posted by Admin on Feb 17
The Euro registered its biggest single day move to the upside since July 2009 as concerns about euro zone debt subsided. The rebound for the Euro signals that traders think the sell-off may have been overdone, with the number of Euro short positions being reduced as risk appetite softens.
Market News
The UK’s CPI came in as forecast at 3.5%, well above the government’s target of 3.5%
Unemployment levels in the UK rose by 23,500 in January to its highest level since April 1997
The Bank of England minutes were released showing that members voted 9-0 to pause the asset purchasing scheme
The minutes from the last FOMC meeting are scheduled to be released at 1900 GMT
Major Economic News
TIME MARKET DATA
1330 US HOUSING STARTS AND PERMITS
posted by Admin on Feb 11
The Euro rose once again as we edged closer to the EU summit. Leaders are scheduled to meet today, and traders will be looking for details on how the other European nations plan to help debt-stricken Greece. The Euro is now at three-week highs against Sterling, breaking through the 200 day moving average.
Market News
Civil Servants went on a 24 hour strike in Greece yesterday to show their frustration with government spending cuts
Australian jobs data rose once again for the fifth straight month, with unemployment now at 11 month lows
Ben Bernanke stated yesterday that he may raise the borrowing rate to banks as the initial step in his exit plan from the current monetary policy
Mervyn King left the door open for the Bank of England to re-start their quantative easing programme in the future.
Major Economic News
TIME MARKET DATA
DELAYED DUE TO HEAVY SNOWFALL IN US
posted by Admin on Feb 8
This was one of the most volatile weeks the markets have had in quite some time. The markets began the week attempting to bounce from near term oversold conditions and rallying to the prior weeks highs. However, they gave way to steep declines on Thursday and most of Friday on a large increase in volume. By mid-day Friday, it seemed like the indexes would finish off the week at their lows but in the afternoon the bulls mounted a strong assault on the bears, firmly reversing the intraday trend. All the indexes finished with slight gains on huge volume, while trading well off their intraday lows and forming a candle pattern commonly referred to as a hammer.
posted by Admin on Nov 6
With US payrolls released later on in the trading session, the Asian markets were relatively quiet overnight. Non farms, plus the G20 this weekend, meant Asian traders stayed on the sidelines. RBA increasing their growth forecasts from 0.5% to 1.75% and saying rates will rise steadily. Equities also higher with Nikkei + 0.8%, Shanghai +0.6% and Sydney + 1.7%. Markets could stay in tight ranges into the data today.
Market News
AUDUSD range 0.9092-0.9139. Even with RBA comments AUDUSD hasn’t really motored but rather a steady rise from sub 0.9100. Resistance topside at 0.9150/0.9180/0.9200. AUDJPY also bid with positive stocks helped and AUDUSD will find support 0.9085/0.9050.
USDJPY range 90.57/90.86. Still stuck in its range. Helped by higher Cross/JPY but very quiet. Support 90.30/50 resistance 91.00/91.20.
EURUSD range 1.4854-1.4881. As with other pairs seems everybody waiting for US data before we break one way or another. Topside resistance at 1.4900/45/65 with 1.4840 first support
Major Economic News
TIME MARKET DATA
1330 Non Farm Payroll figures
