USD, EUR, JPY, GBP, AUD: Forecast for next week - Morgan Stanley

USD: buy on dips. Bullish.

US data were somewhat soft, but data elsewhere even weaker. We also emphasize that the decline in US growth is likely temporary. Moreover, concerns about the extinction risk appetite can also offer support for USD against most currencies except the yen. We like to buy on dips in USD.

EUR: remains bearish. Downtrend.

We remain bearish on the euro. Our economists believe that the tensions surrounding Greece can remain elevated, as we get closer to the due date of the IMF ....

JPY: Support from risk. Uptrend.

We believe that Japan is likely to see support for two reasons. Firstly, we believe that the Bank of Japan is unlikely to ease, and the last round of wage negotiations should lead to an increase. Secondly, risk appetite came under pressure from uncertainty in Greece, political tensions in the Middle East and a pause in US data. the yen should see an offer safe haven.

GBP: Political risks ...

Investors are more concerned about other risks coming from the upcoming elections. We are also concerned about these risks, and see that the uncertainty as to which party can form a government, or whether to be a referendum on the EU affects the GBP negatively. We offer to sell GBPUSD on the selection and look at the different points of view of the Bank of England.

AUD: to go further. Downtrend.

We remain bearish on the AUD. Moreover, iron ore prices continue to fall, which should increase the pressure on the currency. Our team recently predicted decline in iron ore prices, suggesting that it may continue. "

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