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28-May-2018
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International Forex
International Forex
INTERNATIONAL CURRENCY BUZZ
Forex - Dollar Flirts With Six-Month Highs as Euro Sees Red
Forex - EU may not enforce its rules on Italy, but financial markets will
Forex - GBP/USD hangs near yearly lows post-US data, Carney/Powell up next
GBP/USD
The GBP/USD pair held on to its weaker tone, albeit managed to rebound around 15-20 pips from lows following
the release of US durable goods orders data. The pair ticked higher after the latest report, released by the US
Census Bureau this Friday, showed new orders for manufactured durable goods contracted 1.7% in April, worse
than a decline of 1.4% anticipated. The negative reading, to some extent, was negated by better-than-expected
growth in orders excluding transportations, which recorded a growth of 0.9% and remained supportive of the strong
bid tone surrounding the US Dollar. Currently holding with losses below mid-1.3300s, closer to yearly lows set on
Wednesday, investors' now look forward to scheduled speeches by the BoE Governor Mark Carney and the Fed
Chair Jerome Powell for some meaningful impetus.
EUR/USD
EU officials will probably not do much to enforce their borrowing rules on Italy's new government, but they are
hoping they won't have to because financial markets will do the job for them. A new government is expected to
take office in Italy next week, a coalition of the anti-establishment 5-Star Movement and far-right League, who have
jointly promised a bonanza of tax cuts and spending increases that would burst through the EU's limits on
borrowing by member states. Slovak Finance Minister Peter Kazimir on Thursday called the policy mix a "suicide
mission". Markets have already responded: yields of the benchmark 10-year Italian bonds have jumped 0.7
percentage point since the start of May to 14-month highs above 2.46 percent. Morgan Stanley (NYSE:MS) warned
this week that sustained yields that high could spark contagion by hitting the profits of banks which hold a big
chunk of their assets in government debt. Shares in Italian banks hit 11-month lows on Friday, having fallen almost
14 percent so far this month.
International Forex
DAILY ECONOMIC DATA
International Forex
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.3313
Resistance: 1.3457
RECOMMENDATION:
BUY GBPUSD ABOVE 1.3360 TGT 1.3380 1.3410 SL 1.3330
SELL GBPUSD BELOW 1.3300 TGT 1.3280 1.3250 SL 1.3330
International Forex
EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1662
Resistance: 1.1780
RECOMMENDATION:
BUY EURUSD ABOVE 1.1690 TGT 1.1710 1.1740 SL 1.1660
SELL EURUSD BELOW 1.1640 TGT 1.1620 1.1590 SL 1.1670
Epic Research is one of India’s largest Financial Advisory house. Epic Research is amongst leading and most valuable financial
advisory provider companies in the private sector.
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liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present
the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for
personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment
decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate
particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any
transaction conducted based on the information given in this report. The share price projections shown are not necessarily indicative of future price
performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research
might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does
not read any views ex-pressed as a recommendation for which either the site or its owners or anyone can be held responsible. Any surfing and reading of
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vouch for the accuracy or the completeness thereof. We are not responsible for any loss incurred whatsoever for any financial profits or loss which may
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International Forex

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Daily i forex-report-28-may-2018-by-epic-research

  • 1. 28-May-2018 For More Information Please visit www.epicresearch.co or contact info@epicresearch.co Please refer to disclaimer at the end of the report. International Forex
  • 2. International Forex INTERNATIONAL CURRENCY BUZZ Forex - Dollar Flirts With Six-Month Highs as Euro Sees Red Forex - EU may not enforce its rules on Italy, but financial markets will Forex - GBP/USD hangs near yearly lows post-US data, Carney/Powell up next GBP/USD The GBP/USD pair held on to its weaker tone, albeit managed to rebound around 15-20 pips from lows following the release of US durable goods orders data. The pair ticked higher after the latest report, released by the US Census Bureau this Friday, showed new orders for manufactured durable goods contracted 1.7% in April, worse than a decline of 1.4% anticipated. The negative reading, to some extent, was negated by better-than-expected growth in orders excluding transportations, which recorded a growth of 0.9% and remained supportive of the strong bid tone surrounding the US Dollar. Currently holding with losses below mid-1.3300s, closer to yearly lows set on Wednesday, investors' now look forward to scheduled speeches by the BoE Governor Mark Carney and the Fed Chair Jerome Powell for some meaningful impetus. EUR/USD EU officials will probably not do much to enforce their borrowing rules on Italy's new government, but they are hoping they won't have to because financial markets will do the job for them. A new government is expected to take office in Italy next week, a coalition of the anti-establishment 5-Star Movement and far-right League, who have jointly promised a bonanza of tax cuts and spending increases that would burst through the EU's limits on borrowing by member states. Slovak Finance Minister Peter Kazimir on Thursday called the policy mix a "suicide mission". Markets have already responded: yields of the benchmark 10-year Italian bonds have jumped 0.7 percentage point since the start of May to 14-month highs above 2.46 percent. Morgan Stanley (NYSE:MS) warned this week that sustained yields that high could spark contagion by hitting the profits of banks which hold a big chunk of their assets in government debt. Shares in Italian banks hit 11-month lows on Friday, having fallen almost 14 percent so far this month.
  • 4. International Forex EPIC'S ANALYST SPEAKS GBP/USD Daily Chart INTRADAY OUTLOOK Support: 1.3313 Resistance: 1.3457 RECOMMENDATION: BUY GBPUSD ABOVE 1.3360 TGT 1.3380 1.3410 SL 1.3330 SELL GBPUSD BELOW 1.3300 TGT 1.3280 1.3250 SL 1.3330
  • 5. International Forex EPIC'S ANALYST SPEAKS EUR/USD Daily Chart INTRADAY OUTLOOK Support: 1.1662 Resistance: 1.1780 RECOMMENDATION: BUY EURUSD ABOVE 1.1690 TGT 1.1710 1.1740 SL 1.1660 SELL EURUSD BELOW 1.1640 TGT 1.1620 1.1590 SL 1.1670
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