Forex Flash: GBP/USD may rebound to 1.5575 today - Commerzbank

Commerzbank analysts are targeting 1.5271/35 (2012 low) this week, after having sold off and broken below the 1.5642 2009-2013 uptrend. "This is also the 50% retracement of the move since 2009 located here. This will be a key magnet for price and we would expect it to hold the initial test", wrote analyst Karen Jones, pointing out that only above 1.5728 would the pair alleviate immediate downside pressure for recovery towards the 200 day ma at 1.5865. "For today we would allow for a tiny rebound, and look for this to terminate circa 1.5575", Jones added.

Feb 18, 2013

Forex Flash: Asia Carry and spread Z-score - Nomura

Nomura FX Strategists Wee Choon Teo and Craig Chan note that the meeting of G20 finance ministers and central bankers concluded over the weekend with a pledge to refrain from competitive devaluation but avoided a specific mention of the recent JPY depreciation.

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Feb 18, 2013

European markets down in slow day after G20 weekend

The German DAX 30 (+0.17%) but is alone in its quest to the upside. European markets are down in the G-20 hangover: the French CAC 40 (-0.23%), the Italian FTSE MIB (-0.77%), the Spanish IBEX 35 (0.86%). Ahead is ECB Draghi's speech at 14:30 GMT. Investors don't expect much of the rest of the day, with an empty economic calendar and US and Canada markets out of the picture, on holidays. Futures for the American S&P 500, Nasdaq 100 and Dow Jones are trading flat.

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