Forex Flash: Buy USD/THB targeting 29.70 - ANZ

FXstreet.com (Barcelona) - After the Thai baht outpaced all its competitors in the Asian region year-to-date, in view of Khoon Goh, Senior FX Strategist at ANZ, "the strength goes well beyond fundamentals and is at risk of a corrective move."

Technicals also support this bearish view, Khoon says: "Initial selling to book profits could easily lead to some sharp moves in the currency given its lack of liquidity. Therefore, we recommend buying USD/THB outright at 28.85 targeting 29.70 with a stop-loss at 28.50."

Apr 24, 2013

Forex Flash: Expecting a cut in ECB rates for May/June - RBS

“We did not (and still do not) believe that a cut in the main refinancing rate will do much good, but the tone of commentary by members of the Governing Council since the last meeting has led us to change our call,” analysts Richard Barwell and Xinying Chen at RBS say, adding: “We now think the Council will cut the refi rate and although it is a close call, we think that cut comes in May; failing that it should arrive in June.”

Session Recap: Australia CPI softens; USD unchanged

Not much of a move today in the Asia-Pacific as it has been the norm so far this week, with EUR/USD totally unchanged at 1.2999 last, and more or less the same for USD/JPY at 99.43, while AUD/USD is slightly lower at 1.0248, and GBP/USD slightly higher at 1.5244. USD index remained flat as a result.