Major Bank Daily Position
AUD/USD - UOB -
LONG Limit Order - Filled - Entry: 0.7690 - Target: 0.7790, Stop: 0.7630 (S/T)
EUR/NZD - Nomura -
LONG Limit Order - Filled - Entry: 1.5570 - Target: 1.6190, Stop: 1.5250 (L/T)
GBP/JPY - Morgan
Stanley - LONG Position - From 142.20 - Closed at market at 146.48 (TOTW-L/T) +428
pips
Morgan Stanley
EUR/USD long limit order @1.12 , Our expected EUR rally has
come early inspired by ECb Draghi’s changing his tone on inflation and pushing
European rates higher. We see EUR/USD trading towards 1.157 before retracing to
1.12, providing the opportunity to buy again.
EUR/GBP long limit order @0.852 We like to buy EUR/GBP on
dips, waiting for the pair to hit the middle of the trading channel.
CACIB
Hawkish overtones from ECB, BOE, BOC have served as a wake
up call, highlighting risk that removal of stimulus before long.
USD was the biggest victim as a result not withstanding the
Fed’s steadfast hawkishness of late. Lingering political deadlock in Washington
DC and underwhelming US data leads to USD headwinds.
Next week RBA might also send a hawkish signal, we stick
with our AUD/NZD long.
BofAML
BofAML expects no big changes next week and sees little risk
if hawk surprise.
BofAML maintains its view that AUD/USD will eventually
revert towards lower end of its trading range of the past year but argues that
we need clearer slowdown in external demand before this is tradeable.
SocGen
The signal from BoC is very clear, rate hike if not in July
then September. Our technical strategist has pointed to USD/CAD 1.25 as the
target once support 1.3 is broken, as is likely in coming weeks.
Perhaps more interesting from a relative viewpoint is to go
short NZD/CAD following its failure to break through 0.98 earlier this month. A
decline to NZD/CAD 0.92 by year end seems to be in the cards now.
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