Tuesday, July 11, 2017

Forex Insider Daily Update 12 July 2017

Major Bank Daily Position

USD/CAD - Deutsche Bank - LONG Position - Opened - Entry: 1.2910, Target: 1.3200, Stop: 1.2810 (S/T)
GBP/USD - BNP Paribas - SHORT Position - Opened - Entry: 1.2890, Target: 1.2500, Stop: 1.3060 (M/T)
GBP/USD - Citi - SHORT Limit Order - Placed - Entry: 1.2912, Target: 1.2550, Stop: 1.3075 (M/T)
AUD/USD - Morgan Stanley - SHORT Limit Order - Filled - Entry: 0.7650 - Target: 0.7200, Stop: 0.7740 (S/T)
NZD/USD - UOB - SHORT Limit Order - Placed - Entry: 0.7240, Target: 0.7150, Stop: 0.7280 (S/T)
EUR/USD - UOB - LONG Limit Order - Placed - Entry: 1.1470, Target: 1.1615, Stop: 1.1410 (S/T)
NZD/USD - UOB - SHORT Limit Order - Filled - Entry: 0.7240 - Target: 0.7150, Stop: 0.7280 (S/T)

Barclays

Yellen will be testifying in front of the House Financial Services Committee on Wednesday and Senate Banking Committee on Thursday.
Barclays expects her to maintain that a modest removal of policy accommodation remains appropriate and signals that the FOMC intends to start reducing balance sheet before year end.

BofAML

BofAML thinks Yellen will strike a similar tone as she did in June press conference and BofAML looking for 3 things:
1.       Does she emphasize financial conditions have continues to ease despite the Fed’s steps to further tighten monetary policy?
2.       How does Tellen Talk about progress toward the dual mandate?
3.       Does Yellen provide any new additional details about balance sheet policy?
BofAML expects BOC to hike 25bp on 12 July, with neutral statement. We still see CAD overvalued especially in light of recent oil moves and expects a higher USD/CAD at the end of year to 1.35

Nordea

When GBP squeezed higher in March this year, it was ripe for a pause after a move of similar magnitude. Finally the skew in USD/CAD options lowest since 2010, this implies that buying protection against a dovish hike on July 12 might be a good idea.
“If we do get CAD setback, we think long term players should add their CAD longs.

SocGen


EUR/USD looks stuck in 1.13 – 1.146 range. We will mess around here until positioning lightens up before we can break 1.146 and head for 2015 high just above 1.17. EUR/GBP will be equally frustrating but we have slightly more hope of a gradual climb in EUR/JPY.

1 comment:

  1. Thanks for the great job done here. I am on sell order of NZD/USD @ 0.7259 with tight stop loss of 0.7262 and take profit of 0.7159.

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