Credit Suisse 1/4: Today’s #Forex highlights:
#GBPUSD has pushed to a new high for the year and above trend resistance at 1.3788, which should reinforce the existing major base for a move to 1.4000, ahead of 1.4302/77 and eventually our core objective at 1.49/1.51.
Credit Suisse 2/4: #EURGBP maintains a bearish “outside day” to reinforce its existing large bearish “head & shoulders” top and we stay bearish for .8609.

#USDJPY has seen a decisive rejection as expected from our first objective of the 200-day average at 105.57 and we see scope
Credit Suisse 3/4: for a deeper setback to the near-term uptrend at 104.20.

#EURUSD maintains its recovery after the bullish “reversal day” from our 1.1945/14 target – the 23.6% retracement of entire 2020/2021 rally – & we continue to look for a recovery from here to test 1.2104
Credit Suisse 4/4: #USDCHF continues to sell-off in early trading, but maintains a small “head & shoulders” base, with key resist still seen .9075/95.

#AUDUSD has extended its gains, negating small top to suggest further near-term strength, with key resist seen initially .7782.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Francesc Riverola - FXStreet.com 🎗

Francesc Riverola - FXStreet.com 🎗 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Francesc_Forex

10 Feb
Citibank 1/8: Can US exceptionalism get in the way of the bearish #USD outlook?
US relative growth outperformance versus the rest of the world (US exceptionalism) could see more sustained support for USD. Indeed, Citi analysts find that among their signals,
Citibank 2/8: one of the most reliable indicators to predict USD performance is Citi Data Change Index(DCI) spread between US & weighted average of other #G10 economies that currently favours US economic outperformance. US exceptionalism can get in the way of a dollar sell-off by
Citibank 3/8: (1) weakening the equity side of the argument for a weaker dollar, linked to Value vs Growth outperformance should the global economy stumble to the point where US assets and USD’s role as safe haven kick in again OR (2) from very strong US economic outperformance
Read 8 tweets
10 Feb
ING Bank 1/4: Cautious #Riksbank unlikely to halt krona’s strength in 2021.
Despite a more resilient end to 2020, Sweden's #Riksbank remains cautious about the outlook. A further extension to the quantitative easing programme is possible later in the year,
ING Bank 2/4: particularly if the downside risks surrounding the virus materialise - though a return to negative rates remains unlikely.
While modestly surprising the market, the bias coming from the meeting today is not enough, on its own, to push #EURSEK below the 10.00 level.
ING Bank 3/4: For this to happen, we need to see the 2Q economic recovery in the eurozone and Sweden, which will then benefit cyclical currencies such as SEK. Near-term, we expect #EURSEK to continue hovering around the 10.10 gravity line,
Read 4 tweets
10 Feb
TD Securities 1/4: Details for The Day Ahead:
#USD Oil prices have bounced, and the gasoline component of #CPI likely rose sharply again in January (TD: 0.3% m/m), but we expect another tame reading for the trend-setting core series, even with some tendency for above-trend gains
TD Securities 2/4: in January in recent years. The rise in the core index was probably held down by a fourth consecutive decline in used vehicle prices (after sharp increases) and minimal gains once again in the rental components. Our estimate for the rise in core prices is 0.12%
TD Securities 3/4: before rounding. Our forecast implies 1.4%/1.5% y/y for total/core prices in January, little changed from 1.4%/1.6% y/y in December and down from 2.3%/2.4% y/y in February 2020 (pre-COVID).
Read 4 tweets
10 Feb
KBC Bank 1/4: The economic calendar contains US CPI today. Consensus lies at 1.5% y/y for both headline and core measures. Inflation is gradually becoming a topic in markets thinking with US market-based inflation expectations reaching ever higher levels.
KBC Bank 2/4: For today however, the reading probably won’t have a dramatic impact. We more look forward to US 10-yr bond sale later today. Will the recent rise in long rates suffice to offset the increased inflation (and perhaps sovereign credit) risks markets see to the fiscal
KBC Bank 3/4: and monetary abundancy? A smooth auction would probably ease such fears. This could solidify the 1.2% (10-yr) and 2% (30-yr) technical resistance areas, but only for the short term. It could keep the USD in a less beneficial position as well,
Read 4 tweets
10 Feb
KBC Bank 1/4: The big reflation trade took a moment to catch its breath yesterday. Circumstances were ideal with no important data scheduled to trigger abrupt market moves. Equities finished broadly unchanged after erasing earlier losses, both in the EMU and the US.
KBC Bank 2/4: Core bond yields traded choppy and below recent (recovery) highs. The US kicked off its bond sales with 3yr tenor. The auction went smoothly but didn’t impact markets. US Treasuries edged higher at the long end of the curve, sending rates marginally lower driven by
KBC 3/4: the real yield component. German yields ended a volatile trading day flat. Peripheral yield spreads widened just 1 bps. #USD traded on the back foot even as risk sentiment was fragile. #EURUSD took out intermediate resist around 1.208 to finish session north of 1.21again
Read 4 tweets
9 Feb
Morgan Stanley 1/4: With consensus now on board with our V-shape recovery and cyclical bull market in the context of a new economic cycle, investors should be on the lookout for how we could be surprised. First, while we were early with our V-shape recovery narrative,
Morgan Stanley 2/4: we must admit it's been even stronger than we expected 9 months ago. Much of this has to do with the enormous stimulus provided by the Fed and Congress, which has led to a recovery in retail sales and other forms of consumption.
MS 3/4: 2nd, the advent of a new risk seeking retail investor with easier and cheap access to markets has become the marginal buyer of stocks, which has also added to the market volatility. Finally, development of multiple vaccines faster than most expected has increased investor
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!