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.
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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