Tag Archives: Gold
FX Daily
Today’s ECB meeting will be the main attraction. We expect the ECB to deliver anaggressive easing move by cutting the refi and deposit rates, taking the latter intonegative territory.
Daily Technical Report
EUR/USD failed to break the resistance at1.3650 (27/05/2014 high, see also the decliningtrendline) yesterday, indicating persistent sellingpressures. Supports stand at 1.3586 and 1.3562(12/02/2014 low).
FX Daily
The Spanish and Italian May service PMIs are due for release. The Spanish figureincreased to 56.5 in April, which is the highest print since the beginning of 2007.
Daily Technical Report
EUR/USD remains in a short-term bearishtechnical structure as long as prices stay belowthe resistance at 1.3650 (27/05/2014 high, seealso the declining trendline).
FX Daily
The most interesting data release today is euro-zone inflation in May, which weexpect will decline back to this cycle-low of 0.5% y/y from 0.7% y/y in April.
Daily Technical Report
EUR/USD has broken the key support areabetween 1.3673 and 1.3643. The short-termtechnical structure calls for further weakness aslong as prices remain below the resistance at1.3669 (27/05/2014 high).
FX Daily
Although the market probably has its eyes on Thursday’s ECB meeting and Friday’sUS job report, the first day of the week is loaded with interesting key figure releases.
Weekly Economic & Financial Commentary
U.S. Review Economy Contracts in Q1, Stronger Growth Ahead • Revised Q1 GDP figures showed that the economy contracted 1.0 percent,
Weekly CFTC Trader Positioning Data
Sentiment is shifting back in favour of the USD warning of further near‐term USD gains. Overall market positioning is light; with most currencies held close to flat.
Daily Technical Report
EUR/USD has broken the key support areabetween 1.3673 and 1.3643. The short-termtechnical structure calls for further weakness aslong as prices remain below the resistance at1.3669 (27/05/2014 high).
FX Daily
A bunch of US key figures are on the calendar for today. We expect a slight setbackin personal income and personal spending growth in line with the market’sexpectation and unchanged PCE core inflation.
Daily Technical Report
EUR/USD has moved decisively below the short-term support at 1.3616 (23/05/2014 low), confirming the recent technical deterioration.