#EURUSD @ 1.05549 to move lower, USD/JPY risks lean higher – TDS
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Economists at TD Securities discuss the outlook of the EUR/USD, USD/CAD and USD/JPY pairs.
“We have been biased to a tactical move lower in EUR/USD for some time. We continue to view 1.05 as the first major reassessment point for this bias, though we note that the 200-DMA will be rather crucial support. For USD/CAD, this point is 1.37 though we think this may could push higher if stocks fail to hold key supports (we think the key level here will be 3950 in the S&P 500).”
USD/JPY risks lean higher for now; 137 will be next key resistance (200-DMA) and is roughly where relative 1y1y OIS differential pit the pair. Failure to hold this resistance will likely need a break of 1.05 in EUR/USD and a push higher in terminal rate expectations (note that both broad USD variation and US/JP 1y1y OIS are solid drivers for USD/JPY).”
[/s2If]
Join Our Telegram Group
