KBC Market Research Desk
KBC Bank
Currencies
EUR/USD
EUR/USD is locked in a sideways range. The dollar and the euro are more or less in balance as a delay in the Fed rate hike is counterbalanced by rising chances on more ECB QE. .
EUR/GBP
Sterling remained slightly in the defensive of late. UK eco data are a bit less buoyant. Global uncertainty is pushing BoE rate hike expectations further out in time..
USD/JPY
USD/JPY is holding a very tight sideways range close to the 120 level. Global uncertainty didn’t help the yen much further. Markets are still pondering the chances of more BOJ easing.
EUR/CZK
The Czech koruna settled close to the central bank’s (CNB) floor of EUR/CZK 27. In September, the koruna eased slight as markets didn’t fight the CNB commitment anymore to keep current policy in place at least till H2 2016. .
EUR/PLN
Global uncertainty and higher market volatility weighed on the zloty. Ongoing low inflation suggests the zloty won’t get interest support anytime soon.
EUR/HUF
EUR/HUF found a new equilibrium in the 310/315 area. The forint probably won’t get any interest rate support. The NBH stays in ‘easing modus’
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.