Posted by admin on June 30, 2010 under Uncategorized | 
USD Dollar (USD) – The Dollar advanced against the other majors in Forex trading after confidence among U.S. consumers sank in June more than forecast and Stocks plunged as the confidence data combined with conference board figures showing China’s economic outlook improved less than previously estimated, added to concern the global economy is slowing, leading the investors to sell risky assets. NASDAQ and Dow Jones fell by 3.85% and 2.65% respectively. Crude oil fell by -3.0% closing at 75.94$ a barrel, Gold (XAU) rose by 0.3% closing at 1242.4$ an ounce. Today, ADP Non-Farm Employment Change is expected to rise from 55k to 59K.
Euro (EUR) – The Euro tumbled to a 2-week low against the Dollar, amid market concerns ahead of Thursday’s expiration of a Euro zone refinancing program. The main support on the daily chart of the EUR/USD is located at 1.2120 levels, if it breaks this level the Euro is likely to decline sharply. Overall, EUR/USD traded with a low of 1.2151 and with a high of 1.2291. Today, German Unemployment Change is expected at -23k vs. -45k prior, CPI Flash Estimate is expected at 1.5% vs. 1.6% prior, ECB President Trichet Speaks. EUR/USD – Last: 1.2209
British Pound (GBP) – The Pound declined against the Dollar and extended its gains versus the Euro as fears that the global economic recovery is faltering continued. Mortgage Approvals came out worse than expected, leading the investors to sell the Pound versus the Dollar and the Yen. As long as the GBP/USD trades above 1.5000 the momentum is still bullish, the RSI and 10 moving average support an increased trend as well. GfK Consumer Confidence came out at -19 vs. -20 forecast. Overall, GBP/USD traded with a low of 1.5011 and with a high of 1.5119. Today, Nationwide HPI is expected at 0.3% versus 0.5% prior. GBP/USD – Last: 1.5060
Japanese Yen (JPY) –The Yen strengthened against all majors on speculation the global economic recovery will slow .The main resistance of the USD/JPY is at 89.50 and as long as it’s trading below this level a short position is preferred, the next support is located at 88.00 level. Overall, USD/JPY traded with a low of 88.28 and with a high of 89.41. Today, Tankan Manufacturing Index is expected with -3 versus -14. USD/JPY-Last: 88.54
Canadian dollar (CAD) – The Canadian Dollar weakened to the lowest level in 3 weeks versus the Dollar as concern over Europe’s fiscal woes and signs of a global slowdown drove investors away from higher yielding assets like stocks and commodities. As long as the USD/CAD remains above 1.0500 a long position is preferred. Overall, USD/CAD traded with a low of 1.0342 and with a high of 1.0577. Today, GDP is expected at 0.2% vs. 0.6% prior. USD/CAD-Last: 1.0538
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Posted by admin on June 29, 2010 under Uncategorized |
USD Dollar (USD) – The Dollar was mixed against other major currencies after official data showed that U.S. consumer spending rose at a faster rate than expected in May. Moreover, the leaders of the world’s biggest economies agreed on a timetable for halving their budget deficits within three years at the Group of 20 summits in Canada. NASDAQ and Dow Jones weakened by -0.05% and -0.13% respectively. Crude Oil declined by -0.9% closing at 78.25$ a barrel, Gold (XAU) fell by -1.4% closing at 1237.80$ an ounce. Today, CB Consumer Confidence is expected to weaken from 63.3 to 62.8.
EURO (EUR) – The Euro fell against almost all of the majors, dropping the most in 3 weeks versus the Dollar after U.S. data showed inflation remains muted and Group of 20 leaders agreed on a target for cutting budget deficits. The main support on the daily chart of the EUR/USD is located at 1.2200 levels, if it breaks this level the Euro probably will decrease. Overall, EUR/USD traded with a low of 1.2265 and with a high of 1.2397. No economic data expected today. EUR/USD – Last: 1.2266
British Pound (GBP) – The Pound rose to its highest level against the Dollar in 7 weeks as Group of 20 leaders endorsed budget-deficit targets, said they’ll focus on nurturing growth and avoided taxing banks in England. As long as the GBP/USD trades above 1.5000 the momentum is likely to remain bullish, the RSI and 10 period daily moving averages support an upward trend as well. Overall, GBP/USD traded with a low of 1.5016 and with a high of 1.5129. No major economic data expected Today. GBP/USD – Last: 1.5100
Japanese Yen (JPY) –The Yen gained slightly versus the Dollar as more signs the global economic recovery is slowing raised risk aversion and demand for the safety of the Yen. Japan’s retail sales rose at the slowest pace since January, coming out at 2.8% vs. 4.7% forecast, a sign that the Japanese economic has not recovered yet. Prelim Industrial Production came out at -0.1% vs. 0.1% forecast and the Unemployment Rate at 5.2% vs. 5.0% forecast .The main resistance of the USD/JPY is 90.0 level as long it’s trading below this level a short position is preferred, the next support is located at 89.00 level. Overall, USD/JPY traded with a low of 89.06 and with a high of 89.46. No economic data expected today. USD/JPY-Last: 89.09
Canadian dollar (CAD) – The Canadian Dollar swung between gains and losses in Forex Trading, as stocks fell and Crude Oil declined, damping demand for riskier assets. As long the USD/CAD below 1.0400 levels a short position is preferred. Overall, USD/CAD traded with a low of 1.0320 and with a high of 1.0372. No major economic data expected Today. USD/CAD-Last: 1.0358
Posted by admin on June 28, 2010 under Uncategorized |
US Dollar (USD) – The Dollar weakened against most major currencies after Friday’s Q1 U.S GDP revision was lower than expected at 2.7%, instead of 3.0%, indicating slower growth and decreasing the currency’s stability. NASDAQ strengthened by 0.3% on Friday and Dow Jones weakened by -0.1% and S&P rose by 0.25%, concluding a negative week in U.S markets. Crude Oil rose by 3.1% to 78.86$ a barrel and Gold prices closed at 1256.2 per ounce (+0.85). G20 meetings took place in Canada over the weekend. In those meetings, finance ministers and bankers from 20 industrialized nations are meeting to decide on general policies regarding the global economy. Official press releases can impact the currency markets. Conclusions are planned to be published at the beginning of the week. Today, Personal Spending (0.1% forecast) and Personal Income (0.5% forecast) data is due to be released.
Euro (EUR) – In Forex Trading, the Euro strengthened on Friday against the USD for the 3rd day in a row, as the German Import Prices came out higher than expected, rising for the 8th consecutive month (0.6% VS 0.1% forecast). The EUR/USD has been recovering the past couple of weeks, with a weekly high of 1.2467, also being a resistance for the uptrend. Breaking this level upwards will reinsure the pair’s movement towards a recovery in the short term. The main support remains at around 1.1876, the monthly low. On Friday, EUR/USD traded between 1.2253 and 1.2395, closing at 1.2375. No major economic data expected today. EUR/USD – Last: 1.2379
British Pound (GBP) – The Pound strengthened against most major currencies on Friday, alongside the Euro’s recovery for the past week. The GBP/USD closed at 1.5060, after trading between 1.4855 and 1.5077. The next foreseen resistance on the daily chart is located in the 1.53 area, and the main support levels remain at 1.4450. The overall trend for the past weeks is upwards. No major economic data expected today. GBP/USD – Last: 1.5059
Japanese Yen (JPY) – The Yen has been strengthening against major currencies for the past week, with the USD/JPY closing around the low of the day at 89.20 on Friday. Tokyo Core CPI was released on Friday showing a slower pace of declining consumer prices, indicating a moderating deflation. Japanese Retail Sales came out with 2.8% worse than 4.7% expected. The USD/JPY has been trading on Friday between 89.16 and 89.77. The main support on the daily chart is around 88.95, and the resistance remains above 91.5. Today, Household Spending is expected with 0.4% versus -0.7% prior. Prelim Industrial Production is expected with 0.1% versus 1.3% prior. USD/JPY – Last: 89.37
Canadian Dollar (CAD) – The Canadian Dollar strengthened against the Dollar on Friday as Crude Oil, Canada’s largest export, prices rose by 3.1%. On the daily chart, USD/CAD has encountered a downtrend trend line from previous highs, and has a resistance at 1.0470. The support is at 1.0140 levels, and if the pair breaks it, the downtrend is likely to continue. On Friday, the pair was trading between 1.0340 and 1.0442. No major economic data expected today. USD/CAD – Last: 1.0342
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