Back to square one in FX market
Mar 19, 2015 22:34 pm UTC| Commentary
After yesterdays eye-watering moves post-FOMC, markets have spent the last 24 hours retracing the moves. In FX market, we are back to pre-FOMC levels - EUR/USD is at 1.0660, USD/JPY just below 121, USD/CAD at 1.2720,...
Eurozone March PMIs to confirm an ongoing economic recovery
Mar 19, 2015 18:50 pm UTC| Commentary
The eurozone PMIs should post the fourth consecutive increase in March, confirming that the economic recovery in the euro area is regaining traction.An increase in the PMI is also expected in Germany and France. Ifo...
Eurozone equities to deliver a strong performance in the next 3 years
Mar 19, 2015 18:40 pm UTC| Commentary
2015 should be a vintage year for European equities. The Eurostoxx index should deliver a strong performance (above 20%), driven by monetary policy change, investment plans, weaker currency and better domestic news...
Rise in US crude stockpiles preventing the Brent - WTI spread gap from closing further
Mar 19, 2015 18:07 pm UTC| Commentary
The Brent - WTI spread has surged to its widest level since early 2014 over the first few months of this year.The main driver of this has been the surge in stocks of crude oil in the US, which has held down the price of...
Outlook for Gold: BofA Merrill Lynch
Mar 19, 2015 17:25 pm UTC| Commentary
BofA Merrill Lynch notes .... Evidence for a bullish turn in gold continues to build. Yesterdays Bullish Engulfing Candle and impulsive break of 1175 (Mar-09 high) points to a near term base and turn higher. Now, watch...
Gains in ESH5 to continue near-term: BofA Merrill Lynch
Mar 19, 2015 17:24 pm UTC| Commentary
BofA Merrill Lynch notes .... While ESH5 has reached its Double Bottom target at 2100, evidence says that these gains can continue. Yesterdays break of 2082.50 on strong breadth and volume completed a small Head and...
Bullish DXY & bearish EUR/USD: BofA Merrill Lynch
Mar 19, 2015 17:22 pm UTC| Commentary
BofA Merrill Lynch notes .... While yesterdays moves in foreign exchange were extreme (indeed, yesterdays EUR/USD move was the largest since March-18 2009), they failed to damage the larger US $ Index bull trend and...
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