Recent content by Dmitry Shagardin

Analysts forecasts for AUD/USD Analysts at Royal Bank of Scotland expect Australian dollar to gain about 4% by the end of September versus the greenback climbing to $1.10 helped by the surging commodity prices – the Standard & Poor’s GSCI Index of 24 commodities was rising during 3 quarters in...

Yen rose on the Chinese data Japanese yen strengthened today versus all of its main counterparts. The pair USD/JPY continued its way down from the maximum at 85.50 reached on April 6 returning to the upper border of the large “triangle” formation. Currency strategists at Mizuho note that yen...

Societe Generale on ECB, BoE and Fed’s rates Strategists at Societe Generale claim that the ECB rates stayed at the record low during the 2 years. In their view, the time has come for ECB to show that the borrowing costs won’t stay at the emergency level forever. The key question is now the...

BMO Capital advised to sell New Zealand’s dollar New Zealand’s dollar was rising versus the greenback during 3 weeks reaching yesterday the 0.7846 level. The strategists at BMO Capital think, however, that kiwi’s advance has come to an end. Among the factors negative for the NZD there are the...

Nomura: euro risks are still high Analysts at Nomura Securities claim that the single currency has been trading so far as if there was no sovereign debt crisis. The market has ignored the issues in Portugal, Ireland and Greece and the risk premium on euro has been declining since January after...

Ban Bernanke: the Fed is watching inflation The greenback is strengthening versus the single currency during the second day: the pair EUR/USD is moving down to 1.4150. US currency is driven by Ben Bernanke’s comments: the Federal Reserve Chairman claimed that it’s necessary to keep a close eye...

Ministry of Finance revealed the intervention volumes Japan’s Ministry of Finance announced yesterday that it sold 692.5 billion yen ($8.4 billion) during the period from February 25 to March 29 to weaken the yen that hit on March 16 postwar maximum at 76.31 threatening the country’s economic...

Commerzbank: AUD/USD on its way up to 1.0500 Australian dollar rose from the minimums in the 0.9700 area hit in the middle of March to renew the long-term maximums above 1.0300. Technical analysts at Commerzbank expect the pair AUD/USD to continue its advance reaching 1.0375 (78.6% Fibonacci...

Japan’s unemployment rate fell in February Japan’s February data released today was surprisingly good: the unemployment rate dropped from 4.9% in January to 4.6% last month (+370,000 jobs, figures don’t include data from Iwate, Miyagi and ***ushima prefectures). The job-to-applicant ratio rose...

Europe: Portugal’s debt rating reduced, EU summit Standard & Poor’s lowered Portugal’s credit rating by two notches from A- to BBB with the negative forecast 2 days after Fitch Ratings cut Portuguese long-term debt rating from А+ to А-. Analysts at Credit Suisse claim that the country’s...

UBS: G7 intervention will be a success Analysts at UBS expect that the coordinated intervention of G7 nations to weaken Japanese yen’s rate will turn out to be efficient enough and manage to attain its goal. After having analyzed the data for the last 30 years the specialists note that in 4...

Scotia Capital: loonie and Aussie under pressure for now Canadian and Australian dollars have suffered from rising demand for safe-haven currencies, such as Japanese yen, Swiss franc and US dollar after Japan’s earthquake that broke out on March 11. Currency strategists at Scotia Capital note...

SNB won’t raise rates in March Analysts at UBS expect that the Swiss National Bank will keep tomorrow its benchmark interest rate unchanged at the record low of 0.25% to let interest differentials between the euro area and Switzerland widen pushing the pair EUR/CHF up. All 20 economists...

Nomura: USD/JPY may fall to 80.00 Analysts at Nomura Securities claim that the pair USD/JPY is trapped in the 82.30 area as Japanese institutional investors are buying US currency, while exporters are selling. Although the trading has been quite so far, the specialists warn that the greenback...

Bank of America increased forecasts for EUR/USD Analysts at Bank of America Corp. (BAC) increased their first-quarter and long-term forecasts for the single currency versus US dollar. The specialists explained changes in their projections by rising euro and concerns about America’s fiscal...