Forex: EUR/USD hovering over 1.2765/70, Cyprus eyed

FXstreet.com (Barcelona) - The bloc currency remains in the lower end of today’s range as the NA session draws to a close. Market participants keep the focus on Thursday, when the Cypriot banking sector will be put to the test, as local banks will re-open their doors after the long bank holiday. Furthermore, tension amongst investors is expected to rise in light of the implementation of capital controls by the government.

At the moment, EUR/USD is down 0.64% at 1.2772 facing the next support at 1.2730 (low Nov.19) followed by 1.2685 (weekly cloud base) and then 1.2680 (61.8% of 1.2042-1.3711).
On the upside, a breakout of 1.2922 (MA10d) would then target 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).

Mar 27, 2013

Forex Flash: Philippines government bonds to rally following Fitch upgrade – ANZ

According to Strategist Irene Cheung at ANZ, “We expect Philippine government bonds – both local currency and hard currency bonds - to continue to rally. We continue to suggest investors stay long 20y bonds.” The primary beneficiary of the rating upgrade will be the sovereigns’ hard-currency bonds, followed by local currency government bonds.

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Mar 27, 2013

Forex Flash: Cyprus has changed market perception – Deutsche Bank

Regarding continuing fallout from Cyprus, the Cypriot finance minister has warned that uninsured deposits at Laiki could face losses of as much as 80% and that it could take as long as six to seven years before depositors see any of their savings returned. In the more immediate term, he said that the government expects to finalize capital controls by midday today ahead of the reopening of the country's banks tomorrow.

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