August September 2012 CURRENCY FORECAST
|
|
- Anthony Harmon
- 6 years ago
- Views:
Transcription
1 August September 2012 CURRENCY FORECAST Foreign Exchange & Global Payments
2 MONTHLY CURRENCY FORECAST CHART GBP/USD EXCHANGE RATES JUL Avg Aug, Sep f 2012 Q4 f USD/CAD EUR/USD GBP/USD
3 USD / CAD The USD/CAD essentially range traded in the month of July with an average rate of It finally broke out of its range in the latter half of July on speculation of further quantitative easing from the US Federal Reserve, which put the USD under pressure and made the USD/CAD trend towards the psychological 1 USD = 1 CAD level. In August and September, Bank of Canada s monetary policy and chances of further stimulus from the US Federal Reserve will be the main driving forces for the USD/CAD, in addition to the risk-on and risk-off trade fuelled by news from the Euro zone. US Fed Announcements & QE3 The US Federal Reserve will announce interest rates on September 13th. With virtually all major central banks in neutral or easing mode in response to the global economic slowdown, the USD might not suffer much from further stimulus even if Ben Bernanke does announce a third round of quantitative easing, also dubbed as QE3. In any case, we expect a devaluation of the US Dollar of at most 3% vs. the CAD should QE3 be announced. If QE3 is not announced, the US dollar will still remain under pressure on the mere speculation of further Fed easing throughout August. Bank of Canada & Monetary Policy Even after cutting growth prospects for Canada and much of the world and noting that household debt remained worrisome, as did Europe, Mark Carney remained among the few voices not crying wolf at least not yet. The Bank of Canada governor still expects growth in the domestic economy along with other economies to eventually ramp up, and that the banking and debt problems to be contained in Europe. This rhetoric, which was announced after Bank of Canada released its monetary policy report in July, makes the Bank of Canada one of the most hawkish central banks amongst the G20 nations. This also strengthens the case for CAD strength in the coming months. European Union Problems Although the EUR nose-dived against its major currency counterparts in July, the Canadian dollar surprisingly held on to its gains against a strengthening US Dollar with temporary risk aversion causing loonie weakness during some trading sessions. Overall, the Canadian dollar outperformed compared to its major currency counterparts. We expect this trend to continue in August and September.
4 USD / CAD USD/CAD s Trading Range In August & September In summary, after taking into account US Fed policy, Bank of Canada s policy stance and the EU situation, we expect the USD/CAD to trade between and Sellers of the US Dollar will find it advantageous to sell into US Dollar strength against the CAD each time a risk-off tone grips the markets. USD/CAD TREND SINCE JUL 1, Jul 1, 2012 Jul 8, 2012 Jul 16, 2012 Jul 24, 2012
5 EUR/USD The EUR lost 5% of its value in the early half of July against the US dollar. The only savings grace for the EUR came in the form of new resolve shown by EU policy makers in the latter half of July when European Central Bank President Mario Draghi said that he will do whatever it takes to defend the EUR currency. German Chancellor Angela Merkel and French President Francois Hollande echoed Draghi s remarks and helped boost the EUR by 2% in the latter half of July. Despite these statements, we continue to expect ongoing EUR weakness and suggest selling into EUR strength against the US Dollar in the months of August and September. Here are a few reasons why EUR weakness is expected: Spain s bailout Although the Spanish banking system received a bailout, the fundamental flaw with bailouts remains that adding more debt to those who need to cut debt is simply a band aid solution and does not address the structural faults in EU sovereign nation s balance sheets. The European Financial Stability Funds (EFSF) The European Financial Stability Funds (EFSF) is too underfunded to inspire confidence and it may not be operational until Even if it becomes operational earlier, it s funding and powers are unclear. Greece Even if we assume that Spain and Italian defaults can be prevented, it is unclear how the EUR can avoid continued weakness. Greece, for example, has missed about 70% of the requirements set out in the last bailout and so in theory should not be eligible for any more cash, meaning that it will default in a matter of weeks. In other words, a weak Euro automatically pushes the USD higher. In this environment, we expect the EUR/USD to trade between and
6 EUR/USD EUR/USD TREND SINCE JUL 1, Jul 1, 2012 Jul 8, 2012 Jul 16, 2012 Jul 24, 2012
7 GBP/USD The drop seen in UK gross domestic product in July marked the third straight month of negative economic activity and lended credence to the view that the UK economy is in recession mode. While the United States attempts to stimulate its economy via QE3, policy makers at the Bank of England have used asset-purchase programs to boost their local economy. Asset purchases are another form of quantitative easing. The Bank of England increased its asset-purchase target by 50 billion pounds to 375 billion pounds and kept its key interest rate at 0.5 percent at its previous meeting on July 4-5. In the months of August and September, we expect further increases to the bank s asset purchase program in order to stimulate an ailing UK economy. Although asset purchase programs weaken the British Pound, the US dollar is expected to remain under pressure as well due to rumors of QE3 from the US Federal Reserve. In this environment, we expect the GBP/USD to trade close to its fair valuation price of with an expected trading range of to GBP/USD TREND SINCE JUL 1, Jul 1, 2012 Jul 8, 2012 Jul 16, 2012 Jul 24, 2012
8 th Avenue,Suite 306 Markham, Ontario,L3R 0B6 Quote Line (Tel) (Fax) ( ) info@mtfx.ca This Report is prepared by MTFX Inc. as a resource for the clients of MTFX Inc. and MTFX Global. While the information is from sources believed reliable, neither the information nor the forecast shall be taken as a representation for which MTFX or any of its employees incur any responsibility.
MTFX ANALYTICS OCTOBER 2012 CURRENCY FORECAST
MTFX ANALYTICS OCTOBER 2012 CURRENCY FORECAST Foreign Exchange & Global Payments MONTHLY CURRENCY FORECAST CHART GBP/USD EXCHANGE RATES SEP Avg OCT f 2012 Q4 f USD/CAD 0.9790 0.9600 1.0200 0.9800 EUR/USD
More informationJune & July 2012 CURRENCY FORECAST
June & July 2012 CURRENCY FORECAST Foreign Exchange & Global Payments CURRENCY FORECAST CHART GBP/USD EXCHANGE RATES MAY Avg. JUNE & JULY f 2012 Q4 f USD/CAD 1.0107 1.0100-1.0600 0.9900 EUR/USD 1.2800
More informationGESTION DE RISQUES FINANCIERS FINANCIAL RISK MANAGEMENT
GESTION DE RISQUES FINANCIERS FINANCIAL RISK MANAGEMENT 2019-03 / Market Commentary Bonjour, Here s our take on currency movements for the coming weeks. Although struggling, the Canadian economy could
More informationRisk Insight. The Central Bank Tightening Party: Who Will Be Next To Join? What are the chances... Volume 8, Issue th July 2017.
Inside this issue Big Picture... 1-2 GBPUSD... 3 GBPEUR... 4 Risk Insight Volume 8, Issue 31 24 th July 2017 EURUSD... 5 USDCAD... 6 Economic Data and Market Indicators... 7 Appendix... 8 The Central Bank
More informationFixed Income Markets: Experiencing Historic Lows
Fixed Income Markets: Experiencing Historic Lows Prepared: June 7, 2012 Overview How low can they go? This seemed to be the question the fixed income markets tried to answer on June 1st. Ten-year yields
More informationTOP ECONOMIC EVENTS OF THE DAY
OCTOBER 4, 2018 TOP ECONOMIC EVENTS OF THE DAY TIME CURRENCY EVENT EXPECTED PREVIOUS CONSENSUS IMPACT 7:00AM UCT+5:30 AUD Balance of Trade AUG A$1.3B A$1.551B A$1.4B NEGATIVE FOR AUD NEGATIVE FOR GOLD
More informationDaily FX Market Commentary
EUR/USD - EUR Underperform Eurozone data printed on the soft side. German inflation was unrevised in the final November reading. French CPI fell 0.3% YoY while Italian industrial production lowered to
More informationGlobal FX 3 Jan 2012
Global FX Jan The euro area s sovereign debt crisis has been dominating trading in financial markets over the past year and the currency market was no exception. The region s debt problems spread from
More informationBeyond The realm Of possibilities
Beyond The realm Of possibilities 2014 2nd Quarter Report 目錄 Table of Contents Market Outlook US Dollar Index. 4 EURUSD... 5 GBPUSD. 6 USDJPY.... 7 Products Performance Review POWERFUND. 9 12 Ayers Alliance
More informationWEEKLY CHANGES AGAINST THE USD MACRO & MARKETS COMMENTARY
July 03, 2017 [ W E E K LY E C O N O M I C C O M M E N TA R Y ] WEEKLY ANALYSIS FOR THE MOST CRITICAL ECONOMIC AND FINANCIAL DEVELOPMENTS MACRO & MARKETS COMMENTARY» Central banker s comments dominated
More informationCURRENT PRICE EXPECTED HIGH EXPECTED LOW PIVOT POINT , , , , AUD/USD SMA 5 SMA 10 SMA 15
DAILY FOREX & COMMODITIES FORECAST 06-08-2012 FOREX FORECAST MAJOR PAIRS OPENING MINDS CREATING FUTURES AUD/USD CURRENT PRICE EXPECTED HIGH EXPECTED LOW PIVOT POINT 1.0557 1.0579, 1.0597, 1.0632 1.0523,
More informationBy John Praveen, Chief Investment Strategist of Prudential International Investments Advisers, LLC.*
By John Praveen, Chief Investment Strategist of Prudential International Investments Advisers, LLC.* Financial Market Outlook: Stocks Supported by Renewed Central Bank Put but Face Headwinds from Continued
More informationRisk Insight. Are the high costs of hedging for euro investors coming to a turning point? What are the chances... Volume 9, Issue th March 2017
Inside this issue Big Picture... 1-2 GBPUSD... 3 GBPEUR... 4 Risk Insight Volume 9, Issue 11 13 th March 2017 Are the high costs of hedging for euro investors coming to a turning point? As far as hedging
More informationRecent developments in the euro money market. Money Market Contact Group Frankfurt, 18 September 2012
Recent developments in the euro money market Money Market Contact Group Frankfurt, 18 September 2012 ECB developments and announcements I 5 July 2012 The ECB reduced by 25 basis points the interest rate
More informationbias for the dollar in the months ahead.
WHAT ARE THE CHANCES Risk Insight Volume 6, Issue 10-16 March 2015..that EURUSD will touch 1.0 within the next 3 months? 31.0% The Big Picture FOMC meeting shaping the direction of the currency markets
More information6/11/12 Spanish bank rescue announced. 6/6/12 China cuts interest rates, fueling best day for U.S. stocks in 2012
Trade History Tactical Opportunities Portfolio LPL Financial Research MODEL WEALTH PORTFOLIOS December 31, 2012 The LPL Financial Research asset allocation process, coupled with a strong security selection
More informationEuropean Bond Market: What Lies Beyond the Politics?
European Bond Market: What Lies Beyond the Politics? January 20, 2017 by David Zahn of Franklin Templeton Investments Although continued political uncertainty looks set to dominate the investment agenda
More informationEuropean Bond Spreads, Yield Curves And Volatility
European Bond Spreads, Yield Curves And Volatility A client posed the question a few years ago during one of the many rolling sovereign credit crises then roiling the Eurozone as to when the whole thing
More informationThoughts and Concerns: 1) During the July to September quarter the financial turmoil surrounding Greece and Europe increased in its intensity.
Thoughts and Concerns: 1) During the July to September quarter the financial turmoil surrounding Greece and Europe increased in its intensity. In an effort to support the European banking system (and indirectly
More informationGlobal FX 2 Apr 2012
Global FX 2 Apr 2012 Uncertainty reigned in the currency market over the past two weeks, with the dollar fluctuating in rather tight ranges against most other major currencies. The greenback initially
More informationDaily FX Focus 11/7/2017
Important Risk Disclosure Daily FX Focus 11/7/217 Investment involves risk. It is important to note that the capital value of investments and the income from them may go down as well as up and may become
More informationOctober Trade Ideas: Further along the road to normalization
October Trade Ideas: Further along the road to normalization Author: Nick Korzhenevsky, analyst with AMarkets Company. The anchorman of a TV program Economics. Day rates Summary: Central banks assets will
More informationECB ready to begin government bond purchases
Produced by the Economic Research Unit January 2015 A monthly analysis of Global and Irish developments ECB ready to begin government bond purchases Euro area inflation falls into negative territory Increased
More informationINDEX. Forex market outlook Donald Trump s rise and impact on the US dollar. Fed s policy and their hawkish stance
FOREX MARKET OUTLOOK 2018 1 INDEX Forex market outlook 2018 Donald Trump s rise and impact on the US dollar Fed s policy and their hawkish stance EUR/USD s recovery and Euro zone s political challenges
More informationTOP ECONOMIC EVENTS OF THE DAY
OCTOBER 10, 2018 TOP ECONOMIC EVENTS OF THE DAY TIME CURRENCY EVENT EXPECTED PREVIOUS CONSENSUS IMPACT 1:15AM USD FED WILLIAMS SPEECH - - - - 08:30AM GBP Balance of Trade AUG -1.8B -0.111B - POSITIVE FOR
More informationPRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook
PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook September 2013 Financial Market Outlook: Stocks likely to Remain in Modest Uptrend with Low Rates & Plentiful Liquidity, Improving
More informationFree Friday s Forex By Rita Lasker
Free Friday s Forex By Rita Lasker November, 4-11 Do you happen to know that the euro gained as Italy, the region s third - largest economy, sold 5 billion euros ($6.8 billion) of bills? Yes, Forex market
More informationMONTHLY MARKET INSIGHTS AUGUST EDITION 2017
AUGUST EDITION 2017 USD The U.S. dollar index tumbled to its lowest level in 13-months in July and is down nearly 10% since the start of 2017. The dollar s trade-weighted average is down over two and a
More informationGlobal Economic Perspective: August
In this Issue: Global Economic Perspective: August August 22, 2018 by Fixed Income Group of Franklin Templeton Investments Strong US Economy Showing Few Signs of Trade Concerns The US economy has continued
More informationJune 19, 2012 OUTLOOK
OUTLOOK June 19, 2012 The poor May U.S. jobs report helped crystallize the slowdown in the global economy in the second quarter. Global manufacturing slowed in May, led by weakness in the eurozone. Helpfully,
More informationCURRENCY CURRENTS A free global-macro & market newsletter
Tuesday 27 June 2017 CURRENCY CURRENTS A free global-macro & market newsletter Quotable I sneezed and lost sight of the skylark. --Yayu (taken from Zen in the Markets) Commentary & Analysis US dollar getting
More informationCurrency Weekly A C o m p r e h e n s i v e R e p o r t
Global economic review Economic performance: The last week we saw the European soverign feras coming back to haunt the markets. The Equity as well as the currency markets tumbled led by the European region.
More informationReview of Pension Plans Performance (Period ending December 31 st, 2013)
Review of Pension Plans Performance (Period ending December 31 st, 2013) prepared for Investment Subcommittee (Note all returns and values are expressed in Canadian Dollars- CAD s) 1 Canadian Equity The
More informationForeign Exchange Outlook. Making Progress
2013-14 Foreign Exchange Outlook Making Progress Camilla Sutton Chief Currency Strategist 2012 Forecast vs Performance SCOTIABANK FORECASTS VS ACTUAL RETURNS (2012) 8 4 % return 0 JPY CAD GBP AUD EUR -4-8
More informationFOREX. made easy. UNDERSTANDING THE BASICS. An educational tool by Blackwell Global.
FOREX made easy UNDERSTANDING THE BASICS. An educational tool by Blackwell Global. Risk Warning: Forex and CFDs are leveraged products and you may lose your initial deposit as well as substantial amounts
More informationJanuary market performance. Equity Markets Price Indices Index
Global Central Banks continue to lower interest rates. The RBA cuts the cash rate by 25bp to 2.25% (February 2015). The ECB finally announces Quantitative Easing 60b per month. Oil prices declined again
More informationXavier Student Bond Investment Fund. Supplemental Economic Report 10/10/11-10/14/11 10/10/11. Sarkozy and Merkel Meet
Xavier Student Bond Investment Fund Supplemental Economic Report 10/10/11-10/14/11 10/10/11 Sarkozy and Merkel Meet French President Nicolas Sarkozy and German Chancellor Angela Merkel wound up their weekend
More informationDaily FX Focus 1/12/2017
Important Risk Disclosure Daily FX Focus 1/12/217 Investment involves risk. It is important to note that the capital value of investments and the income from them may go down as well as up and may become
More informationItaly s Eurozone Trap
Italy s Eurozone Trap Ashoka Mody Based on EuroTragedy: A Drama in Nine Acts, New York: Oxford University Press, June 2018. Italy needed and needs the crutch of a depreciating currency to offset its abysmal
More informationGlobal FX 10 May 2010
Global FX 1 May 1 Fear gripped financial markets in the past week as market feared that Europe s inability to resolve its sovereign credit crisis will turn into a global financial crisis. Despite the fact
More informationTOP ECONOMIC EVENTS OF THE DAY
November 14 th 2018 TOP ECONOMIC EVENTS OF THE DAY TIME CURRENCY EVENT EXPECTED PREVIO US CONSENSUS IMPACT 12:30AM AUD Wage Price Index QoQ Q3 0.6%(Actual) 0.6% 0.65 NEGATIVE FOR AUD 09:30AM GBP Inflation
More informationwithin the longer term downward trend that began almost a year ago. In our opinion, it s the latter that continues to look the most likely scenario.
WHAT ARE THE CHANCES Risk Insight Volume 6, Issue 12-30 March 2015..that EURUSD will touch 1.15 within the next month? 11.0% The Big Picture Is the euro primed for another leg lower? fter reaching a 12
More informationBANK OF RUSSIA FOREIGN EXCHANGE AND GOLD ASSET MANAGEMENT REPORT MOSCOW
3 2017 BANK OF RUSSIA FOREIGN EXCHANGE AND GOLD ASSET MANAGEMENT REPORT MOSCOW Bank of Russia Foreign Exchange and Gold Asset Management Report 3 (43) 2017 The reference to the Central Bank of the Russian
More informationMarket Insight Economy and Asset Classes December Oil Prices Downtrending: The Real Global Economic Stimulus
Market Insight Economy and Asset Classes December 2014 Oil Prices Downtrending: The Real Global Economic Stimulus 2 Equities Markets Feature In Citi analysts view, the expansion phase the US are enjoying
More informationCurrencies Daily Report
Currencies Daily Report Powered by Karvy Forex & Currencies Pvt. Ltd. www.karvyforex.com Tuesday 19 Sep 2017 Market Overview Dow Jones closed at record highs for 5th consecutive day whereas as S&P500 closed
More informationBANK OF RUSSIA FOREIGN EXCHANGE AND GOLD ASSET MANAGEMENT REPORT MOSCOW
1 2018 BANK OF RUSSIA FOREIGN EXCHANGE AND GOLD ASSET MANAGEMENT REPORT MOSCOW Bank of Russia foreign exchange and gold asset management report 1 (45) 2018 TThe reference to the Central Bank of the Russian
More informationIFA GLOBAL SPECIAL REPORT Dated- 10 th May, 2017
Risk Rally: Ahead of fundamentals, Short of a Bubble With several risk events behind us; and several queued up immediately ahead, it is the right time to take fresh guard. Following are the key takeaways
More informationEndowment Funds Performance (Year ending June 30 th, 2014)
Endowment Funds Performance (Year ending June 30 th, 2014) prepared for Investment Subcommittee (Note: all returns and values are expressed in Canadian Dollars- CAD s) 1 Quarterly Market Overview Equity
More informationCurrency Market Outlook EMPRES-7173
Currency Market Outlook 1 Currency Markets Outlook certainly one lesson is that we should get used to periods of higher volatility Mario Draghi President of the European Central Bank ECB Press Conference
More informationCMS Prime DAILY MARKET REPORT
CMS Prime DAILY MARKET REPORT May 09, 2018 EURUSD BEARISH BIAS short position at 1.1855 with SL : 1.1900 and with targets at 1.1835 and 1.1800 long position at 1.1900 with SL : 1.1835 and with targets
More informationGlobal Economic Outlook 2014 Year Ahead Outlook January 2014
PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Economic Outlook 2014 Year Ahead Outlook January 2014 2014 Year Ahead - Global Economic Outlook Global Growth Strengthens as U.S. & U.K. GDP Growth
More informationINVESTMENT OUTLOOK. August 2017
INVESTMENT OUTLOOK August 2017 INVESTMENT OUTLOOK AUGUST 2017 MACRO-ECONOMICS AND CURRENCIES Developed and Emerging Markets A series of comments from major central banks during the month, reminded investors
More information1 World Economy. Value of Finnish Forest Industry Exports Fell by Almost a Quarter in 2009
1 World Economy The recovery in the world economy that began during 2009 has started to slow since spring 2010 as stocks are replenished and government stimulus packages are gradually brought to an end.
More informationWhat is Monetary Policy?
What is Monetary Policy? Monetary stability means stable prices and confidence in the currency. Stable prices are defined by the Government's inflation target, which the Bank seeks to meet through the
More informationForex trading. Forex Trading
Forex trading Development of Forex Advantages / disadvantages of Forex P/L Calculation Margin Trading sessions Operation structure Interest rate Trading styles Economic indicators Types of brokerages Tricky
More informationFX Trading Strategies for August 7, 2018
FX Trading Strategies for August 7, 2018 (Based on closing prices for August 6, 2018) FX Pair 1 Volatility 2 Skew 3 Correlation 4 Trades Best Trade Today oqti oqvi oqsi oqti vs. oqvi AUD/USD.73840 33 Bear
More informationTrend 1 Volatility 2 Skew 3 Correlation 4. Trades. AUD/USD Bear 46 Fair 2 Puts! Sell Short Call Spread
FX Trading Strategies for August 16, 2018 (based on closing prices for August 15, 2018) FX Pair 1 Volatility 2 Skew 3 Correlation 4 Trades Best Trade Today oqti oqvi oqsi oqti vs. oqvi AUD/USD.72310 29
More informationTrend 1 Volatility 2 Skew 3 Correlation 4. Trades. AUD/USD Bear 34 Cheap 8 Puts! Sell Long Put Spread
FX Trading Strategies for August 23, 2018 (based on closing prices for August 22, 2018) FX Pair 1 Volatility 2 Skew 3 Correlation 4 Trades Best Trade Today oqti oqvi oqsi oqti vs. oqvi AUD/USD.73490 30
More informationArticles of WYOM 2011
Articles of WYOM 2011 Article Year End Letter Using your RRSPs to fund your Mortgage A Crisis of Confidence - Market Research Volatility Sucks To Refinance or not to Refinance Your Mortgage Mutual Funds
More informationIn v estm en t Views. July 2017
In v estm en t Views July 2017 Global strategy Central bankers rise again It was supposed to be the year interest rate differentials between the US and other developed nations grew and rising US interest
More informationCAD OUTLOOK A BALANCED PERSPECTIVE CAMILLA SUTTON l CHIEF FX STRATEGIST l l
CONFERENCE CALL Dial in: 905 694 9451 (local to Toronto) Passcode: 549 537 728# CONFERENCE CALL COMMANDS Press 1 to skip backwards 5 seconds; press 3 skip forward 5 seconds Press 4 to skip backwards 5
More informationFX Trading Strategies for August 9, 2018
FX Trading Strategies for August 9, 2018 (Based on closing prices for August 8, 2018) FX Pair 1 Volatility 2 Skew 3 Correlation 4 Trades Best Trade Today oqti oqvi oqsi oqti vs. oqvi AUD/USD.74310 66 Bull
More informationTrend 1 Volatility 2 Skew 3 Correlation 4. Trades. AUD/USD Bull 7 Cheap! 15 Puts Buy Long Call
FX Trading Strategies for August 9, 2018 (based on closing prices for August 8, 2018) FX Pair 1 Volatility 2 Skew 3 Correlation 4 Trades Best Trade Today oqti oqvi oqsi oqti vs. oqvi AUD/USD.74310 66 Bull
More informationGreek Debts Updates After Referendum
Market Insights Greek Debts Updates After Referendum 07/2015 What happened? Greece voted against yielding to further austerity, as demanded by creditors with 61% of voters backing up Prime Minister Alexis
More informationAUD-EUR OUTLOOK Risk Appetite is the Key Wednesday, 25 January 2012 The Australian dollar has recently soared to record highs against the euro, reflecting heightened concerns about European sovereign risk,
More informationCYGNUS CURRENCY RESEARCH REPORT. Major Crosses. EUR/USD Duration Bid Ask. Dollar Index Month
WEEKLY CURRENCY REPORT MONDAY, 25 -JULY-2016 CYGNUS CURRENCY RESEARCH REPORT SPOT RATE RBI REF RATE Major Crosses USDINR - Forward Rates (In Paise) EUR/USD 1.0975 Duration Bid Ask PAIR 7/22/2016 %Change
More informationEconomic and financial outlook
Economic and financial outlook SEPTEMBER 2014 LAZARD FRÈRES GESTION SAS 25, rue de Courcelles 75008 Paris Sales department: +33 (0)1 44 13 01 94 - www.lazardfreresgestion.es ECONOMIC OUTLOOK 3 10 19 23
More informationExplore the themes and thinking behind our decisions.
ASSET ALLOCATION COMMITTEE VIEWPOINTS Fourth Quarter 2016 These views are informed by a subjective assessment of the relative attractiveness of asset classes and subclasses over a 6- to 18-month horizon.
More informationCMS Prime DAILY MARKET REPORT
CMS Prime DAILY MARKET REPORT May 1,5 2018 EURUSD BEARISH BIAS short position at 1.1935 with SL : 1.1960 and with targets at 1.1910 and 1.1890 long position at 1.1960 with SL : 1.1910 and with targets
More informationRes Ipsa Loquitur (The Thing Speaks for Itself) What Happens to Stocks and Bonds When the Fed Raises Rates?
Infomail January 19, 2015 Res Ipsa Loquitur (The Thing Speaks for Itself) What Happens to Stocks and Bonds When the Fed Raises Rates? We always overestimate the change that will occur in the next two years
More informationExplore the themes and thinking behind our decisions.
ASSET ALLOCATION COMMITTEE VIEWPOINTS Third Quarter 2017 These views are informed by a subjective assessment of the relative attractiveness of asset classes and subclasses over a 6- to 18-month horizon.
More informationCurrencies Daily Report
Currencies Daily Report Powered by Karvy Forex & Currencies Pvt. Ltd. www.karvyforex.com Wednesday 26 Jul 2017 Market Overview The Fed is widely expected to keep interest rates unchanged. Signs from the
More informationDaily FX Focus 14-Jan-2014
Currency This Week 12 MONTHS Comment AUD/USD NEUTRAL BEARISH EUR/USD NEUTRAL BEARISH GBP/USD BULLISH BEARISH NZD/USD BULLISH BULLISH USD/RMB BEARISH NEUTRAL USD/CAD NEUTRAL BULLISH USD/JPY BULLISH BEARISH
More informationCAD: THE STORY FROM WORST TO BEST CAMILLA SUTTON l CHIEF FX STRATEGIST l l July 2014
CAD: THE STORY FROM WORST TO BEST CAMILLA SUTTON l CHIEF FX STRATEGIST l416 866 5470 l CAMILLA.SUTTON@SCOTIABANK.COM July 2014 SCOTIABANK: FORECAST FX USD a mixed path REAL GDP US outperforms Canada 2012
More informationCommentary from New Century Advisors - February 2019
NCA Market Notes Is NOW the Time to Buy Value? US Inflation Core Remains Firm Australia Is the RBA Going ZIRP? Is NOW the Time to Buy Value? Value investing has been out of favor for so long, market pundits
More informationFOREX WEEKLY. Weekly information issued by the FOREX Advisory Team. Trader view in 2 snapshots. 13 October Global Forex Sentiment
FOREX WEEKLY 13 October 2017 Weekly information issued by the FOREX Advisory Team Global Forex Sentiment The Spanish government has decided yesterday after an extraordinary meeting to ask to the President
More informationQUANTITATIVE EASING. 1. Point of departure 2. More on the US 3. Secular Stagnation 4. More on the Euro Area 5. Helicopter money 6.
1 Arne Jon Isachsen BI Norwegian Business School QUANTITATIVE EASING 1. Point of departure 2. More on the US 3. Secular Stagnation 4. More on the Euro Area 5. Helicopter money 6. Summing up 1. Point of
More informationEUR-USD USD-JPY AUD-USD USD-SGD. Spot Support
FX STRATEGY 4 May 0 The comments represented in this publication are made on the basis of a 4 week outlook Contents EUR USD Pg USD JPY Pg AUD USD Pg 4 USD SGD Pg 5 GBP USD Pg 6 Interest rate differentials
More informationGlobal Macroeconomic Monthly Review
Global Macroeconomic Monthly Review April 2019 Dr. Gil Michael Bufman, Chief Economist Arie Tal, Research Economist Economics Department, Capital Markets Division 1 Please see disclaimer on the last page
More informationInternational Financial Market Report
Financial and Banking Operations Department - International Reserves Management Division - International Financial Market Report (23 27 April 2018) Podgorica, 4 May 2018 FX NEWS EUR/USD The EUR/USD exchange
More informationGlobal Macroeconomic Monthly Review
Global Macroeconomic Monthly Review August 14 th, 2018 Arie Tal, Research Economist Capital Markets Division, Economics Department 1 Please see disclaimer on the last page of this report Key Issues Global
More informationQuarterly Currency Outlook
Mature Economies Quarterly Currency Outlook MarketQuant Research Writing completed on July 12, 2017 Content 1. Key elements of background for mature market currencies... 4 2. Detailed Currency Outlook...
More informationMarket Outlook 20 July 24 July 2015
Highlight Treasury Division TMU 01 :(66) 2021 1111 TMU 02 :(66) 2021 1222 TMU 03 :(66) 2021 1333 Market Outlook 20 July 24 July 2015 Last Week: Last week, the Thai baht dramatically continually depreciated
More informationTHE ECONOMIC OUTLOOK RECESSION AND RECOVERY. Paul Darby Executive Director & Deuty Chief Economist Twitter hashtag: #psforum
THE ECONOMIC OUTLOOK RECESSION AND RECOVERY Paul Darby Executive Director & Deuty Chief Economist Darby@conferenceboard.ca US OUTLOOK US recession is coming to an end Q3 likely to be positive due to inventory
More informationEUR Rates & FX QE perspectives on what s priced in. Martin Enlund, Chief Analyst FX Alexander Wojt, Analyst Fixed Income
EUR Rates & FX QE perspectives on what s priced in Martin Enlund, Chief Analyst FX Alexander Wojt, Analyst Fixed Income Summary: surprisingly little QE priced in Most analysts have over the past months
More informationThe Prospects Service
The Prospects Service LEADING ECONOMIC ANALYSIS, FORECASTS AND DATA Global Prospects, January 2017 Toplines The world economy remains in a stage of heightened uncertainty, with ongoing Brexit negotiations,
More informationEXCHANGE RATE FORECASTS
April 2014 EXCHANGE RATE FORECASTS MODEST ROOM FOR A STRONGER U.S. DOLLAR IN 2014-2015 AFTER 2013 S LARGE GAINS U.S. Dollar: The dollar index has inched higher in 2014 as the dollar strengthened against
More informationLKP SECURITIES LIMITED 13th Floor Raheja Center, Free Press Marg, Nariman Point, Mumbai
Free Press Marg, Nariman Point, Mumbai-400021 Item Open High Low Close % Cng Net Cng Trend Market Update Gold $ Silver $ LME Alum. LME Copper LME Lead LME Nickel LME Zinc Crude $ Nat. Gas $ Precious Metals
More informationEUR-USD USD-JPY AUD-USD. We turn bullish on AUD-USD (from neutral earlier). A decisive break above has reversed the earlier downtrend.
FX STRATEGY 3 September 03 This commentary reflects the views of the Wealth Management Group The views expressed in this publication are made on the basis of a -4 week outlook and may differ from our longer
More informationGreece Macroeconomic outlook & prospects
Greece Macroeconomic outlook & prospects Dr. Platon Monokroussos Group Chief Economist of Eurobank & Chairman of the Scientific Council of the Hellenic Bank Association 2013 Q1 2013 Q2 2013 Q3 2013 Q4
More informationInternational Environment Economics for Business (IEEB)
International Environment Economics for Business (IEEB) Sergio Vergalli sergio.vergalli@unibs.it Vergalli - Lezione 1 The European Currency Crisis (1992-1993) Presented By: Garvey Ngo Nancy Ramirez Background
More informationDaily FX Focus 28-Jan-2014
Currency This Week 12 MONTHS Comment AUD/USD NEUTRAL BEARISH EUR/USD NEUTRAL BEARISH GBP/USD NEUTRAL BEARISH NZD/USD BULLISH BULLISH USD/RMB BEARISH NEUTRAL USD/CAD BULLISH NEUTRAL USD/JPY NEUTRAL BEARISH
More informationForex and Interest Rate Outlook AIB Treasury Economic Research Unit
Forex and Interest Rate Outlook 30th April 2018 Global economy losses some momentum in recent months, while inflation remains subdued Fed sticks to its steady rate tightening path, but other central banks
More informationPIMCO Cyclical Outlook for Europe: Near-Term Recovery, Long-Term Risks
PIMCO Cyclical Outlook for Europe: Near-Term Recovery, Long-Term Risks September 26, 2013 by Andrew Balls of PIMCO In the following interview, Andrew Balls, managing director and head of European portfolio
More informationDAILY TECHNICAL REPORT MA S-TERM. 16 December, 2011 L-TERM MULTI-WEEK OBJECTIVES/COMMENTS ENTRY LEVEL STRATEGY/ POSITION
MA S-TERM MULTI-DAY Please note: None of the strategies below represent trading advice or trading recommendations of any kind. Please refer to our full disclaimer. L-TERM MULTI-WEEK STRATEGY/ POSITION
More informationInvestment Market Performance
Investment Markets in December, Review of 2014 and Outlook for 2015 Markets weakened in local currency terms in December but US and Japanese markets gained in Euro terms as the Euro weakened further. Equity
More informationNegative Yields in the Eurozone: Rationale and Repercussions
The Invesco White Paper Series Invesco Fixed Income Negative Yields in the Eurozone: Rationale and Repercussions When in 1 the European Central Bank (ECB) introduced a negative deposit rate, this was not
More informationRisk Insight. Does a flattening yield curve signal pain for the dollar? What are the chances... Volume 9, Issue 10 6 th March 2017.
Inside this issue Big Picture... 1-2 GBPUSD... 3 GBPEUR... 4 Risk Insight Volume 9, Issue 10 6 th March 2017 EURUSD... 5 USDCAD... 6 Economic Data and Market Indicators... 7 Appendix... 8 Does a flattening
More informationSep-14. Dec-14. Jun-15. Mar-15
SEB FX Ringside 18 August 2015 China devaluation what s next? Latest developments China devalued the daily fixing by a total of 4.6% last week. 1-2% daily devalue may seem tiny to euro investors who see
More informationAustralian Dollar Outlook
Friday, 28 July 2017 Australian Dollar Outlook Turning Points and Policy Shifts The Australian dollar recently broke out of its narrow trading band where it has been stuck for nearly two years. This month,
More information