Richard Adcock News
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The pound’s rally to a four-month high against the dollar is proving too much for currency traders unsure whether Mark Carney will step up stimulus efforts when he takes over as Bank of England governor next month.
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Gold’s recovery to a three-week high last week is over and prices that entered a bear market in April may fall another 5.5 percent to about $1,303 an ounce, according to technical analysis by UBS AG.
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U.K. government bonds rose, with 10- year yields falling the most in a week, before a U.S. report that analysts said will show job growth in the world’s biggest economy slowed last month.
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Switzerland’s economy probably kept growing in the first quarter as domestic demand and the central bank’s currency cap kept at bay the recession afflicting many of its neighbors.
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The yen may weaken through the 100- per-dollar level and another technical area to reach a 4 1/2- year low, according to UBS AG.
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The euro may strengthen against its U.S. counterpart to the highest level in six weeks if it breaks key levels of resistance, according to UBS AG, citing technical indicators.
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The euro may weaken to its lowest level in six weeks versus the dollar after reaching a “new corrective low” today, according to UBS AG, citing technical indicators.
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Gilt futures may decline to the lowest level in 10 months after dropping below so-called support, UBS AG said, citing trading patterns.
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The euro may strengthen 2 percent against the Swiss franc if it rises beyond an area of so-called resistance, UBS AG said, citing trading patterns.
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The Australian dollar may extend this month’s rally to the highest level since March, UBS AG said, citing trading patterns.
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