FBS_analytics
FBS Representative
- Messages
- 0
18/06/10
18/06/10
Ueda Harlow: pound may rise to 137 yen
Analysts at Ueda Harlow Ltd. claim that British pound may rise to one-month maximum at 137 yen representing the bottom line of the ichimoku cloud if it overcomes the key 136.40 yen level.
The specialists note that there are growth signals on the ichimoku chart such as short-term conversion line at 133.20 yen crossing a longer-term baseline at 131.60.
Sterling can possibly strengthen getting above the neckline to 139 yen level, but it may have difficulties as the economic fundamentals will create downward pressure on the pair in the long-term period.
ANZ National Bank: AUD and NZD gain
Australian and New Zealand’s currencies approached today maximal levels versus the greenback as investor’s sentiment about the situation in Europe improved.
Economists at ANZ National Bank Ltd. in Wellington note that the strong positive driver was provided by the decision of European authorities to release the information about banking system’s conditions announcing banks stress tests’ results.
Strategists at National Australia Bank Ltd. in Sydney claim that Australian dollar needs increases in copper prices and US stocks to rise above key resistance at 87.25 cents.
This week Aussie gained 2.1% against US dollar, while kiwi managed to add 2%.
Commerzbank: euro may reverse at1.2445/1.2570 area
European currency went up from June 7 minimum rising above 1.2410.
Technical analysts at Commerzbank believe that euro is likely to reverse at 1.2445/1.2570 zone and restart moving down. The specialists place intraday support at 1.2210 and 1.2145.
If the single currency strengthens, the pair EUR/USD may climb above 1.2900 retracing to the 1.2951.
Standard Bank: gold may rise to $1,300 an ounce
Analysts at Standard Bank Plc expect gold to rise in 2010 to the record maximum at $1,300 an ounce.
According to the specialists, investor’s demand for euro and dollar will decline as developed economies may show worse growth pace than the emerging ones such as China. Standard Bank economists believe that the United States will never regain its dominance in the world economy, while billionaire investor George Soros foresees severe recession in Europe.
As a result, due to the absence of immediate replacement for the greenback and the single currency market players are likely to turn to gold. Concerns over the value of American and European currencies may induce Russian, Chinese and Indian central banks to add gold to their reserves.
BNP Paribas: euro may show the maximal weekly growth in 2010
The single currency is likely to show the maximal weekly growth versus the greenback in a year. It happened as the concerns about low economic growth of the euro region declined due to the stock markets’ positive dynamics.
Analysts at Standard Bank Plc in London think that investors will try to preserve the gains of the single currency. Currency strategists at BNP Paribas in London note that Spanish bond auction turned out to be more successful than it was expected. As a result, risk appetite went up and the pair EUR/USD managed to overcome resistance at $1.2350 level.
Credit Agricole: yen's gaining versus US dollar
Japanese yen will show the second consecutive weekly advance versus the greenback.
Yen is gaining as Japanese Prime Minister Naoto Kan promised to reduce country’s public debt that is the second biggest in the world. The Prime Minister representing Democratic Party of Japan also increased the general optimism claiming that he will consider opposition party’s idea of consumption tax increase. In order to end stagnation period country’s 40.7% corporate tax will be diminished and the government will promote environment and healthcare industries.
Analysts at Credit Agricole Corporate and Investment Bank in Tokyo believe that the main objective of Japanese structural reforms will be in securing funding sources and the national currency is likely to benefit in this situation.
On-line analytics from FBS always is available on: http://www.fbs.com/analytics/news_markets
18/06/10
Ueda Harlow: pound may rise to 137 yen
Analysts at Ueda Harlow Ltd. claim that British pound may rise to one-month maximum at 137 yen representing the bottom line of the ichimoku cloud if it overcomes the key 136.40 yen level.
The specialists note that there are growth signals on the ichimoku chart such as short-term conversion line at 133.20 yen crossing a longer-term baseline at 131.60.
Sterling can possibly strengthen getting above the neckline to 139 yen level, but it may have difficulties as the economic fundamentals will create downward pressure on the pair in the long-term period.
ANZ National Bank: AUD and NZD gain
Australian and New Zealand’s currencies approached today maximal levels versus the greenback as investor’s sentiment about the situation in Europe improved.
Economists at ANZ National Bank Ltd. in Wellington note that the strong positive driver was provided by the decision of European authorities to release the information about banking system’s conditions announcing banks stress tests’ results.
Strategists at National Australia Bank Ltd. in Sydney claim that Australian dollar needs increases in copper prices and US stocks to rise above key resistance at 87.25 cents.
This week Aussie gained 2.1% against US dollar, while kiwi managed to add 2%.
Commerzbank: euro may reverse at1.2445/1.2570 area
European currency went up from June 7 minimum rising above 1.2410.
Technical analysts at Commerzbank believe that euro is likely to reverse at 1.2445/1.2570 zone and restart moving down. The specialists place intraday support at 1.2210 and 1.2145.
If the single currency strengthens, the pair EUR/USD may climb above 1.2900 retracing to the 1.2951.
Standard Bank: gold may rise to $1,300 an ounce
Analysts at Standard Bank Plc expect gold to rise in 2010 to the record maximum at $1,300 an ounce.
According to the specialists, investor’s demand for euro and dollar will decline as developed economies may show worse growth pace than the emerging ones such as China. Standard Bank economists believe that the United States will never regain its dominance in the world economy, while billionaire investor George Soros foresees severe recession in Europe.
As a result, due to the absence of immediate replacement for the greenback and the single currency market players are likely to turn to gold. Concerns over the value of American and European currencies may induce Russian, Chinese and Indian central banks to add gold to their reserves.
BNP Paribas: euro may show the maximal weekly growth in 2010
The single currency is likely to show the maximal weekly growth versus the greenback in a year. It happened as the concerns about low economic growth of the euro region declined due to the stock markets’ positive dynamics.
Analysts at Standard Bank Plc in London think that investors will try to preserve the gains of the single currency. Currency strategists at BNP Paribas in London note that Spanish bond auction turned out to be more successful than it was expected. As a result, risk appetite went up and the pair EUR/USD managed to overcome resistance at $1.2350 level.
Credit Agricole: yen's gaining versus US dollar
Japanese yen will show the second consecutive weekly advance versus the greenback.
Yen is gaining as Japanese Prime Minister Naoto Kan promised to reduce country’s public debt that is the second biggest in the world. The Prime Minister representing Democratic Party of Japan also increased the general optimism claiming that he will consider opposition party’s idea of consumption tax increase. In order to end stagnation period country’s 40.7% corporate tax will be diminished and the government will promote environment and healthcare industries.
Analysts at Credit Agricole Corporate and Investment Bank in Tokyo believe that the main objective of Japanese structural reforms will be in securing funding sources and the national currency is likely to benefit in this situation.
On-line analytics from FBS always is available on: http://www.fbs.com/analytics/news_markets