Previous Analysis Of The Nzd/usd
Fundamental Analysis
EUR
"The report suggests that, having eased in the first quarter of the year, the euro zone’s economic downturn is likely to have gathered momentum again in the second quarter."
- Chris Williamson, Chief Economist at Markit
Retail sales in the Euro area fell in March in line with economists’ expectations, adding to signs that consumer demand is still weak, which is hampering recovery in the currency’s bloc economy.
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Technical Analysis
EUR/USD
"The market may have taken that as a little bit of a stronger chance that could cut rates even further, into negative territory."
- TD Securities (based on MarketWatch)
Upward impetus the currency pair has received from the 200-day SMA was insufficient to throw EUR/USD over the ...
Fundamental Analysis
EUR
"As long as this mechanism is not working, a rate cut would simply go up in smoke and could soon look like a last act of desperation."
- Carsten Brzeski, senior economist at ING Bank
During its Thursday policy meeting the European Central Bank is likely to cut its benchmark interest rate as latest inflation and unemployment data suggest the region economy is not on the path of recovery yet.
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Technical Analysis
EUR/USD
"The shared currency reversed losses because the market is optimistic the ECB will do something beyond the rate cut."
- Citygroup Inc. (based on Bloomberg)
The common European currency is traded in a narrow range between the Bollinger band at 1.3192 and the weekly R2 at 1.3168. The pair does not ...
Fundamental Analysis
EUR
"If it weren’t for the ECB’s usual reluctance to make large changes, there would be a strong case to cut by 50 basis points, and I think the likelihood is perhaps higher than the market expects."
- Frederik Ducrozet, an economist at Credit Agricole SA
Heavily-indebted Spain recorded another contraction in the first quarter of this year, adding to concerns that the economy is far away from the recovery.
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Technical Analysis
EUR/USD
"The shared currency reversed losses because the market is optimistic the ECB will do something beyond the rate cut. The more the market anticipates additional stimulus through credit channels and so on, the stronger the euro will trade."
- Citygroup Inc. (based on Bloomberg)
The major ...
Fundamental Analysis
EUR
"We are reaching a trough and the market is betting on the ECB cutting rates to lift the economy."
- Steen Jakobsen, chief economist at Saxo Bank
Confidence among Eurozone businesses weakened further in April, strengthening the case for a rate cut this week by the European Central Bank.
Technical Analysis
EUR/USD
"The dollar is being sold with weakening U.S. economic indicators and talk of prolonged quantitative easing."
- Sumitomo Mitsui Trust Bank Ltd. (based on Bloomberg)
As expected, the 200-day SMA was unable to stop the currency pair from advancing forward, since recently it has lost its topicality. Accordingly, there is scope for movement up to 1.3168/46, but we also look for higher levels, such as 1.3280/77 in the medium term.
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Fundamental Analysis
EUR
"We expect a gradual recovery in the euro area economic activity for the second half of this year, but this scenario is subject to downside risks."
- Mario Draghi
The current account of the 17-nation economy widened more than preliminary was estimated, due to an increase in trade, the European Central Bank said Friday.
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Technical Analysis
EUR/USD
"Looking at the real economic indicators, it seems that German industry has not yet completely overcome a weak phase."
- Finance Ministry (based on CNBC)
Despite the proximity of supposed demand area, created by a combination of the 200-day SMA with the monthly R1, the currency pair remains largely unchanged, having trouble recovering the lost in the beginning of February ...
Fundamental Analysis
EUR
"When we did our last rating action we said we do attach quite a high likelihood for Spain’s having to ask for an ESM precautionary credit line."
- Kathrin Muehlbronner, an analyst at Moody’s
Spain is widely expected to miss its public deficit target this year, leaving its sovereign rating at risk of slipping below investment grade, credit agency Moody's said on Tuesday.
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Technical Analysis
EUR/USD
"That seems quite consistent with the strong performance by European bond markets in the aftermath of the Bank of Japan policy announcement last week."
- BNP Paribas SA (based on MarketWatch)
EUR/USD finished an impulse to the 55-day SMA at 1.3079, since yesterday it even surpassed an interception point of the Bollinger ...
Fundamental Analysis
EUR
"After a period of deflating in the second half of last year, German industry has stabilized again."
- Carsten Brzeski, senior economist at ING Belgium SA
The industrial output in Europe’s largest economy improved moderately in February, raising hopes that German economy is stabilizing after a contraction in the fourth quarter. According to the Economy Ministry, German production rose 0.5% from January, when it contracted 0.6%, beating analysts’ expectations, which called for a 0.3% gain.
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Technical Analysis
EUR/USD
"We’re seeing broad-based dollar weakness based on Bernanke’s comments."
- Commonealth Bank of Australia (based on MarketWatch)
The major currency pair is under heavy bullish pressure, as the price ...
Fundamental Analysis
EUR
"The data indicate that the Eurozone economy has remained stuck in recession in the first quarter."
- Martin Van Vliet, senior euro-area economist at ING Groep NV
Activity at manufacturing and services sectors in the Eurozone deteriorated further in March, as the downturn intensified. According to the Markit Economics, a gauge of manufacturing activity across the 17-nation bloc dropped to 46.6 this month, down from 47.9 a month earlier.
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Technical Analysis
EUR/USD
"The downward pressure on the pair is likely to increase as we head into the weekend and the 1.2850 support line may tested."
- BK Asset Management (based on MarketWatch)
It is almost certain now that EUR/USD will be unable to close the bearish gap this ...
Fundamental Analysis
EUR
"It is obvious that some people want me to be the scapegoat"
- Greece former finance minister George Papaconstantinou
The Greek parliament voted on Friday to investigate former finance minister George Papaconstantinou for allegedly interfering with a tax evasion probe. He is suspected of tampering with a confidential document as more than 2,000 Greeks were avoiding taxes by using their secret accounts in Swiss banks.
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Technical Analysis
EUR/USD
"The real hard economic data are still very negative. There are improvements, but it still doesn't look that bright"
- Conference Board (based on Reuters)
Demand failed to overthrow supply at 1.3395/73, implying that the pair currently lacks bullish momentum in order to ...
Fundamental Analysis
EUR
"Forceful structural reforms and broad-based domestic support will be needed to meet challenges, alongside long-term support from Greece's European partners."
- Christine Lagarde, the head of the International Monetary Fund
The International Monetary Fund approved another tranche to Greece, saying nation’s bailout programme is moving in the right direction.
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Technical Analysis
EUR/USD
"We’re in a real grinding risk-on environment. The tail risks in the euro zone seem to be mitigated because bond sales are doing well for them. There’s more confidence in the market."
- Faros Trading LLC (based on Bloomberg)
The major currency pair continues a bullish movement and is already breaching the latest high at 1.3393. ...