USD/JPY Weekly Forecast May 16-20 2016

Number of FOMC voting members supporting rate hike during June meeting is increasing. After previous weeks statements from Atlanta Chief Lockhart and San Francisco Chief Williams, during last week Boston FED Chief Rosengren and Kansas City Fed George expressed their view in support of further rate increase. Certainly actual employment and inflation figures will be […]

Gold will move down to $1100 according to Goldman Sachs.

Goldman Sachs Group provided its bearish outlook on Gold for an upcoming three months. The analysts believe that a further strengthening of the US labor market will push the Fed to hike, which will negatively affect the gold prices. Goldman Sachs has a target of $1100 in three month horizon. Gold was trading at 1,275.3101 […]

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” […]

Bearish target on AUD/USD from UOB.

UOB analysts provided their bearish outlook on AUD/USD today. “As highlighted last Friday, the recent sharp drop in AUD appears to be running ahead of itself and those who are short should take partial profit at 0.7340 (low has been 0.7338). While further extension to 0.7300 is not ruled out, we are still of the […]

GBP analysis from Morgan Stanley.

Morgan Stanley provided its bearish outlook on GBP yesterday. “We think the GBP rally has run its course for now as we expect risk appetite and commodity related currencies to decline in the coming weeks. In addition, we believe there is very little political risk premium priced into GBP today and so are entering a […]

Bearish targets on NZD/USD from Barclays.

Barclays analysts provided setups for several major currencies. According to them NZD/USD will decline to 0.6545 areas. “We are bearish against the 0.7055 range highs. A break below nearby support in the 0.6805 area would confirm a top under 0.7055 and open targets near initial targets near 0.6760. Measured targets for the top are towards […]

UOB thinks that EUR/USD will decline to 1.1300.

According to the analysts at UOB, EUR/USD will move down to 1.1300 area in a short-term. “We just shifted to a neutral stance last Friday and there is no change to the view. The current movement is viewed as corrective pull-back which has scope to extend lower to 1.1300 but at this stage, a sustained […] USD/JPY Weekly Forecast May 9-13 2016

Surprisingly weak job report data for April posted on Friday are raising a question  among market analysts whether this is first signal of job growth easing in the US? April report shows decrease of 40K of nonfarm payrolls to 160K, significantly lower from 200K where markets were expecting to see the figure. Unemployment rate is […]

Lloyds Bank thinks EUR/USD will climb to 1.23.

Lloyds Bank is bullish on EUR/USD pair, mentioning that it is possible the pair will hit the 1.23 areas. “Aligned with general USD weakness, the EUR has now cleared important technical resistance in the 1.14-1.1465 region. This is a major break, as previously any moves to the 1.14 region have been quickly thwarted. As we […]

Barclays is neutral on GBP/USD.

Analysts at Barclays provided their targets on GBP/USD, stating their neutral outlook. “We are neutral and look for signs of a top near the 1.4670 range highs to prompt us to turn more bearish. A decisive break above 1.4670 however, would force us to assume a stronger than currently expected corrective rally. For now we […]
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