Israel to keep rates unchanged – BBH

FXStreet (Edinburgh) – In the opinion of the research team at BBH, the Israeli central bank would keep its benchmark rates at 0.10%.

Key Quotes

Israel central bank meets later today and is expected to keep rates steady at 0.10%”.

“However, the market is split. Of the 21 analysts polled by Bloomberg, 15 see no change and 6 see a 10 bp cut to 0%”.

“With rates nearing the zero bound, the central bank will have to resort for unconventional measures if more stimulus is needed”.

“For now, the weak shekel will be relied upon as the main source of stimulus”.
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USD/CHF revisits Friday’s highs

FXStreet (Córdoba) – Despite low liquidity and non existent interest, USD/CHF managed to push a tad higher and is retesting daily highs at the 0.9450 zone.

USD/CHF bounced off a daily low of 0.9403 at the beginning of the European session and managed to rise about 50 pips throughout the day. The dollar is consolidating Friday’s gains underpinned by solid US CPI figures and Yellen’s speech. At time of writing, the pair is trading at 0.9354, recording a 0.24% gain on the day.

USD/CHF technical levels

In terms of technical levels, a decisive break above 0.9455 would pave the way toward 0.9489 (100-day SMA) and then 0.9510 (200-day SMA). On the other hand, supports are seen at 0.9403 (daily low), 0.9320 (21-day SMA) and 0.9300 (psychological level).
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Outlook for AUD and crosses – ANZ

FXStreet (Barcelona) – The Research Team at ANZ shares the outlook and expected ranges for AUD/USD and crosses.

Key Quotes

AUD/USD: The USD found solid demand after core CPI strengthened and markets looked through the -0.2% y/y headline print. Today is expected to be very quiet.

Expected range: 0.7740 – 0.7910”

AUD/NZD: With AUD/NZD closing close to the 200dma, direction is all about technical indicators today. However, this week direction is in the hands of NZD developments with Fonterra’s opening milk price due later in the week. We were stopped out of our long AUD/NZD at 1.0699 in choppy price action with a 4.6% gain. We still like the cross and await opportunity to re-enter.

Expected range: 1.0660 – 1.0770”

AUD/EUR: EUR/USD closed below important levels on Friday, despite better German IFO confidence relative to expectations. ECB policy and Greek issues are weighing on EUR and the market remains in favour of short EUR positions.

Expected range: 0.7060 – 0.7200”

AUD/JPY: The BoJ held policy unchanged as expected on Friday, leaving this cross to find direction from AUD and USD moves.

Expected range: 94.10 – 96.10”

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