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#1 13-02-2017 11:41:58

johnedward
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From: Paris - France
Registered: 21-12-2009
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USD: BNP Paribas thinks there's room for the USD to resume its climb

USD: BNP Paribas thinks there's room for the USD to resume its climb


http://www.forex-central.net/forum/userimages/BNP-Paribas-Logo.jpg


BNP Paribas believes that a recovery of the USD on the forex is possible following hawkish comments by Yellen this week:

"In our opinion, short USD positioning and recent price movements offer a good entry point for USD buyers. BNP Paribas's positioning analysis indicates that the market is a net seller of USD, with a score of -10 (on our scale of +50 to -50) leaving room for a rebuilding of long USD positions. In addition, Fed chairman Janet Yellen will have to speak twice this week. The market only sees a 30% chance of an increase at the March FOMC meeting and two rate hikes in 2017, compared to the three indicated by the Fed minutes projections. Therefore, it is possible that the USD will climb after these hawkish comments. In addition, the US CPI report on Wednesday is likely to show that inflation has continued to rise, we expect a 2.4% year-on-year increase for January."


"Anything worth having is worth going for - all the way." - J.R. Ewing

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