News | Forex Optimum



USD/JPY: Outlook predicted to remain fragile – UOB

FXStreet reports that USD/JPY risks further downside and a probable test of the 105.00 region in the next weeks, noted FX Strategists at UOB Group.

Next 1-3 weeks: “Yesterday (15 Sep, spot at 105.70), we indicated that ‘downward momentum has improved considerably and from here, USD is expected to trade with a downward bias towards the next major support at 105.20’. The pace of the decline was more rapid than expected as USD dropped to an overnight low of 105.28. Downward momentum continues to improve and from here, a break of 105.20 would shift the focus to the major support at 105.00. Looking forward, USD has to close below this solid support before further weakness can be expected. All in, USD is expected to remain weak unless it can move above 106.00 (‘strong resistance’ level was at 106.30 yesterday).”

You may also be interested:

18:14 25.09.2020
Goldman Sachs picks EM currencies to back when "the dust settles" - CNBC
CNBC reports that Goldman strategists suggested in their note Thursday that while it may be too early to engage with high-yield emerging market (EM) bets, with risks still prevalent and the dollar on the move, it is not too early to start thinking systematically about opportunities once the crisis subsides. They identified the Mexican peso (MXN) as the most attractive among “high cyclical beta, high carry longs.” It was closely followed by the South African rand (ZAR) and Russian ruble
17:37 25.09.2020
Italy to raise budget deficit target to about 12.8% of GDP from 11.9% in August - Reuters reports, citing sources
To target 2021 budget deficit at 7%To raise debt-to-GDP target to 160% from 157.6% in August; to aim to lower it to 156% in 2021To set 2021 GDP growth target at 6%, up from 4.7% in April
17:22 25.09.2020
U.S. Durable Goods Orders: Core orders point to capex recovery continuing - Wells Fargo
FXStreet notes that the U.S. Durable Goods Orders report released on Friday showed an increase of 0.4%, below expectations. Analysts at Wells Fargo point out the slowdown in core orders was more gradual and shows the capex recovery continues.“Durable goods orders slowed sharply in August, increasing just 0.4% after an upwardly revised gain of 11.7% in July. The downdraft stemmed in part from a 4.0% drop in motor vehicles as pent up demand from shutdowns shows signs of exhaustion.”“The rise in
Bonuses VIP