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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: prometheus1976 who wrote (72329)	2/3/2010 10:29:28 AM
From: Haim R. Branisteanu	Respond to of 74559

BULLET: EURO-DOLLAR: Jens Nordvig of Nomura says the firm.... EURO-DOLLAR: Jens Nordvig of Nomura says the firm has revised its euro forecasts versus the dollar and on the crosses. Nomura has a Q2 forecast of $1.40 and a Q4 forecast of $1.45, vs their prior forecasts of $1.55 and $1.60 respectively. In euro-sterling, their forecasts are now Gbp0.85 and Gbp 0.82 (Q2/Q4), vs their prior forecasts of Gbp0.86 and Gbp 0.82. "Un think uncertainty about fiscal plans and/or any support from EU will remain in place, at least until April," Nordvig says. In addition, contagion fears about Portugal and Spain have increased in recent weeks, with the risk of rating downgrades high, which will add to euro bearishness. Nomura has a Q1 forecast of $1.36 in the euro. Nordvig sees the pair recovering later in the year "partly as a function of renewed dollar weakening" and "party as a function of eventual easing of tensions (from extreme levels) in peripheral European bond markets."