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EUR/USD will trade above 1.15 according to Scotiabank.

Scotiabank analysts provided their bullish outlook on EUR/USD. “European data releases came in weaker than expected overall – softer service sector activity (PMI) and weaker than expected retail sales… It appears, once again, as if the EUR/USD rally has stalled above 1.15 – which has been a graveyard for EUR longs over the past year” […]

Scotiabank outlook on EUR/USD.

Scotiabank analysts anticipate a growing pressure on Euro. “The 1.14/1.15 range has been the top for the EUR over the past year and Friday’s close was a poor one for the EUR on the week, suggesting an important top/reversal had formed on the longer-term charts. We see strong resistance at 1.1450/60 now. Weakness below 1.1245/50 […]

ScotiaBank is bearish on GBP/USD.

In its Foreign Exchange Outlook for February 2016, the Scotia Bank made a forecast on GBP. According to the report, the GBP seems to test the 2009 low around 1.3500. The risk lies to the downside given that the analysts consider the erosion in fundamental support and looming Brexit risk. Scotia Bank’s target is 1.35 […]

USD/JPY target of 129 from ScotiaBank.

ScotiaBank reported its estimates for USD/JPY in its February 2016 Foreign Exchange Outlook. According to the report, JPY is starting February below its December close after fully losing its YTD gains driven by BOJ’s surprise interest rate cut decision on January 29. The bank is bullish USD/JPY and forecast a Q2 2016 target of 129.

Scotia Bank – FX Forecasts for 2016 & 2017

Scotia Bank (third largest bank in Canada) just published their currency forecasts for 2016 and 2017. While they predict the EUR/USD to fall in 2016 to 0.95 they do see it rising in 2017 to 1.12. They forecast USDJPY rate at 131.00 at the end of 2016 and USDJPY 137.00 rate at 2017. They also […]