Tue, 09 Feb 2010 03:32:06 +0000The dollar weakened against the euro Monday, but held firm against other major currencies, as concerns about Greece's fiscal health eased slightly.
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Tue, 09 Feb 2010 03:32:06 +0000Roman Larionov details this simple strategy to enter trades at the right price, which will help you maximize your profits and minimize your losses.
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Tue, 09 Feb 2010 03:32:06 +0000The US dollar rally likely continues this week. The rally may even accelerate, especially against the Canadian dollar.
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Tue, 09 Feb 2010 03:32:06 +0000The Canadian dollar continued to strengthen against the greenback and is the best performing currency on Monday, while the New Zealand dollar extended the decline from the previous week and slipped below the 200-Day SMA to reach a low of 0.6857.
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Tue, 09 Feb 2010 03:32:06 +0000UK Retail Sales fell -0.7% in January after adding 1.1% in the previous month according to the British Retail Consortium. BRC Director General Stephen Robertson called the outcome “an awful start to the year,” adding that the outcome amounted to “the worst January sales growth in the 15 years we’ve been running the survey.” The coldest start to the year since 1987 was cited as the reason for poor performance, with heavy snowfall keeping consumers away from shopping for all but the bare necessities.
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Tue, 09 Feb 2010 03:32:06 +0000Light Crude 02-08 (Daily FX)
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Tue, 09 Feb 2010 03:32:06 +0000Gold 02-08 (Daily FX)
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Tue, 09 Feb 2010 03:32:06 +0000US Dollar / Swiss Franc 02-08 (Daily FX)
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Tue, 09 Feb 2010 03:32:06 +0000NEW YORK----Before long, all Facebook users will be able to easily execute money transfers among each other with a ClickandBuy app and purchase Facebook apps quickly and conveniently.
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Tue, 09 Feb 2010 03:32:06 +0000The rebounding dollar took a break Monday as some investors second guessed of the risk of government defaults in Europe.
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Tue, 09 Feb 2010 03:32:06 +0000STAMFORD, Conn.----Harman International Industries, Incorporated today announced results for the Second Quarter FY 2010 ending December 31, 2009. Net sales for the quarter were $937 million, an increase of 24 percent compared to the same period last year.
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Tue, 09 Feb 2010 03:32:06 +0000REDWOOD CITY, Calif.----Electronic Arts Inc. today announced preliminary financial results for its third quarter ended December 31, 2009.
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Tue, 09 Feb 2010 03:32:06 +0000Prevailing risk aversion has helped pushed the pair lower including a bearish close on the day of suspected intervention. Another down day would make in eight in a row which could open the door for a potential retrace as often occurs following a run of one-way price action.
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Tue, 09 Feb 2010 03:32:06 +0000Oil prices rose toward $72 a barrel Monday on a weaker dollar, recovering from last week's losses.
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Tue, 09 Feb 2010 03:32:06 +0000The EUR/USD has quieted following a bout of volatility, as budget deficit issues in Greece, Portugal and Spain raised broader concerns and sparked a flight to safety. Risky assets traded lower following the Euro’s lead which was already under pressure from the bulging shortfalls of its member nations.
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Tue, 09 Feb 2010 03:32:06 +0000The Australian labor market is expected to improve for the fifth consecutive month in January, with economists forecasting employment to increase 15.0K from the previous month, and the data could drive the exchange rate higher as the isle-nation skirts the global recession.
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Tue, 09 Feb 2010 03:32:06 +0000Students Question: I would enter at 1.3600, place a stop at 1.3400 and sell at 1.4000. Does this seem reasonable?
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Tue, 09 Feb 2010 03:32:06 +0000The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe.
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Tue, 09 Feb 2010 03:32:06 +0000The EURGBP may have topped in a small 4th wave. The Yen crosses may be consolidating before continuing lower.
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Tue, 09 Feb 2010 03:32:06 +0000• Dollar Advances for a Fourth Consecutive Session Despite a Tempered Pace of Risk Aversion • Euro Finds Little Consolation from EU Finance Ministers’ Greek Guarantees at G7 • Japanese Yen: Lending Troubles another Road Sign to the Next ‘Lost Decade’ • Commodity Currency Policymakers Start Rolling Back Emergency Aid
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Tue, 09 Feb 2010 03:02:33 +0000Malaysian Currency Edges Up Against Dollar
RTT News - 29 minutes ago
(RTTNews) - After a brief slide in early Asian deals on Tuesday, the Malaysian ringgit rose against the US dollar. The pair moved from 3.45 to 3.4370 by about 9:40 pm ET. Currently, the dollar ...
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Tue, 09 Feb 2010 02:57:06 +0000Kyodo economic news summary -1-
istockAnalyst.com - 35 minutes ago
Toyota to file recall of iconic Prius over brake problems TOKYO - Toyota Motor Corp. (NYSE:TM) will officially file Tuesday for a recall in Japan of over 170,000 vehicles of the latest model of ...
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Tue, 09 Feb 2010 01:40:49 +0000Three Cheers For The US Dollar
Inside Futures - 1 hour ago
by Gary Kamen of Pricecharts.com Last week the March 2010 US dollar index had a weekly open at 7961 and closed the week at 8059½. Early in the week, the dollar did have some down days but got some ...
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Tue, 09 Feb 2010 00:29:47 +0000AUD Still Heading For USD Parity, Says NAB
FN Arena News - 3 hours ago
By Chris Shaw In October of last year National Australia Bank began forecasting parity for the Australian dollar against the US dollar by the end of the March quarter. With the Reserve Bank of ...
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Tue, 09 Feb 2010 00:28:43 +0000China's exchange rate policy promotes recovery of world economy
People's Daily Online - 3 hours ago
By January 2010, RMB had appreciated by 21.2 percent against the US dollar and 4.6 percent against the euro, compared to July 21, 2005 when the RMB exchange rate formation mechanism reform was ...
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Mon, 08 Feb 2010 23:57:29 +0000Rupee crosses Rs87 to a dollar in open market
The News International - 3 hours ago
By By our correspondent KARACHI: The rupee crossed the Rs87 mark against the US dollar in the open market on Monday as people started hoarding the foreign currency in the wake of State Bank's ...
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Mon, 08 Feb 2010 23:20:22 +0000Gains for the US Dollar in the Near Term?
FXstreet.com The Forex Market - 4 hours ago
by Northern Trust Economic Research Department The Financial Times reports today, "Speculators make €8bn bet against euro" that markets are testing the euro with a nearly €8 billion bet against it ...
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Mon, 08 Feb 2010 23:00:49 +0000Hard Assets For The Road Ahead
Forbes - 4 hours ago
For most of the past decade, and particularly since 2002, the value of the US dollar has been trending lower against major world currencies, and against gold and baskets of many commodities. Even ...
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Mon, 08 Feb 2010 21:59:21 +0000Mexico's Stocks Eke Out Gains, But Peso Closes Weaker
Wall Street Journal - 5 hours ago
By Anthony Harrup Of DOW JONES NEWSWIRES MEXICO CITY (Dow Jones)--Mexican stocks held up Monday despite losses by US equities and closed modestly higher, while the peso weakened against the US ...
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Mon, 08 Feb 2010 21:44:50 +0000FOREX: CREDIT DEFAULT SPREADS AND EUR/USD
NASDAQ - 5 hours ago
It is an extremely quiet day in the foreign exchange markets with most of major currencies ending the NY trading session unchanged against the US dollar. With no US economic data on the calendar ...
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Mon, 08 Feb 2010 09:09:42 +0000Although the British pound fell marginally to 1.5535 (Fridays low was 1.5559) earlier today in Asia, lack of follow through selling and the recovery from there suggest consolidation would take place and retracement to 1.5700 is likely, however, renewed selling should emerge around the Kijun-Sen (now at 1.5803) and bring...
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Mon, 08 Feb 2010 09:08:10 +0000As the greenback has retreated after faltering below resistance at 1.0800 (Fridays high), suggesting further consolidation below there would be seen and pullback to the Kijun-Sen (now at 1.0647) is likely, however, dollar should find decent demand around 1.0580/85 (approx. 38.2% Fibonacci retracement of 1.0227 to 1.0800) and the Ichimoku...
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Mon, 08 Feb 2010 08:51:26 +0000Although the single currency recovered after holding above Fridays low at 1.3585 and further consolidation would be seen, upside should be limited to 1.3750/60 and renewed selling interest should emerge around the Kijun-Sen (now at 1.3806), bring another decline later. Break of said support would extend recent decline towards 1.3495/00,...
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Mon, 08 Feb 2010 08:49:52 +0000Although the greenback has continued to trade in narrow range and further consolidation above last weeks low at 88.55 would be seen, dollars upside should be limited to the Kijun-Sen (now at 89.92) and renewed selling interest should emerge below the Ichimoku cloud bottom (now at 90.27) and bring another...
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Mon, 08 Feb 2010 07:52:59 +0000No change in USD/JPY's outlook. More consolidations could still be seen above 88.57 but upside is expected to be limited below 91.26 resistance and bring fall resumption. Below 88.57 will target 87.36 support first. Break will confirm that whole rise from 84.10 has completed with three waves up to 93.74...
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Mon, 08 Feb 2010 07:50:12 +0000With 4 hours MACD crossed below signal line, an intraday top is possibly in place at 1.0793 already. Bias turned neutral and more consolidations could be seen. But still, downside is expected to be contained above 1.0497 support and bring rally resumption. Above 1.0793 will target medium term trend line...
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Mon, 08 Feb 2010 07:46:55 +0000Intraday bias in GBP/USD remains on the downside with 1.5737 minor resistance intact. Current fall from 1.6456 is expected to continue towards 100% projection of 1.6875 to 1.5829 from 1.6456 at 1.5410 next. On the upside, above 1.5737 minor resistance will turn intraday bias neutral and bring consolidations. But upside...
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Mon, 08 Feb 2010 07:37:54 +0000With 4 hours MACD crossed above signal line, an intraday low might be in place at 1.3585 and bias is turned neutral. Some more consolidations could be seen, but upside should be limited by 1.3852 support turned resistance and bring fall resumption. Below 1.3585 should target 61.8% retracement of 1.2329...
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Mon, 08 Feb 2010 07:36:08 +0000Markets are generally in tight range today with dollar a bit softer. The pull back in dollar is so far mild while the recovery in crude oil and gold lack follow through buying. It looks as if risk aversion flows in the markets pull back from last week's climax and...
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Mon, 08 Feb 2010 04:44:35 +0000Although the greenback moved higher in early part of the week to as high as 91.28 (we entered long once at 90.00 and was exited at 90.22), the currency pair tumbled from there towards latter part of the week on massive risk aversion and our long position entered at 90.10...
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Mon, 08 Feb 2010 03:27:05 +0000Although the single currency rebounded after Friday's selloff to 120.70, a firm breach above resistance at 123.33 (Friday's high) is needed to signal the wave v of the c leg from 134.37 has possibly ended there and bring correction of recent decline towards 124.45 (wave iii trough), otherwise, retest of...
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Mon, 08 Feb 2010 03:25:29 +0000Despite falling to 0.8578 last Friday, the rebound from there suggests the minor wave iii of recent C leg decline from 0.9331 has possibly ended there and consolidation would take place in wave iv and recovery towards 0.8846 (38.2% Fibonacci retracement of wave iii from 0.9280 to 0.8578) would be...
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Mon, 08 Feb 2010 03:17:47 +0000The single currency extended recent decline as suggested in our previous update, reinforcing our bearish count that wave v, wave (c) of wave C as well as larger degree wave (B) has ended at 1.5145 and our indicated downside target at 1.3747-48 (previous support and 61.8% Fibonacci retracement of 1.2885...
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Mon, 08 Feb 2010 03:16:03 +0000The greenback met renewed selling interest at 91.28 and extended the b leg of wave (2) from 93.78 towards our indicated downside target at 88.24-32 (61.8% Fibonacci retracement and previous support), however, reckon chart level at 87.36 would contain weakness and bring c leg of wave (2) later.
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Mon, 08 Feb 2010 02:47:29 +0000The single currency extended recent decline from 1.5145 as expected in our previous update and easily met our indicated downside targets at 1.3801 (50% Fibonacci retracement of 1.2457-1.5145) and 1.3739-47 (previous resistance turned support). Although further weakness towards 1.3500 is likely, oversold condition should prevent sharp fall below there and...
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Mon, 08 Feb 2010 02:46:15 +0000The greenback moved in line with our expectation, met renewed selling at 91.28 (we suggested that Kijun-Sen at 91.30 would limit upside) and fell again towards our indicated downside target at 88.32 (last week's low was 88.55), however, as this move from 93.78 is still viewed as a strong correction...
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Mon, 08 Feb 2010 01:50:30 +0000EUR/GBP's recovery from 0.8601 resumes and reaches as high as 0.8785 so far. While more rise could still be still, we'd continue to expect strong resistance at 0.8792 to limit the recovery and bring fall resumption. Below 0.8686 minor support will flip intraday bias back to the downside and break...
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Mon, 08 Feb 2010 01:45:53 +0000Intraday bias in EUR/CHF remains neutral for the moment and more sideway trading should be seen above 1.4557 in near term. Stronger recovery cannot be ruled out, and EUR/CHF might climb to above 1.4820. But after all, we'd expect strong resistance ahead of 1.5 psychological level to limit any rebound...
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Mon, 08 Feb 2010 01:34:06 +0000Intraday bias in USD/CAD remains neutral for the moment and consolidations from 1.0779 continues. Deeper retreat to 4 hours 55 EMA (now at 1.0631) might be seen. But still, downside is expected to be contained by 1.0544 support and bring rally resumption. Above 1.0779 will bring retest of 1.0851 resistance...
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Mon, 08 Feb 2010 01:23:05 +0000With 4 hours MACD crossed above signal line, an intraday low is likely in place at 0.8577 after drawing support from 23.6% retracement of 0.6008 to 0.9404 at 0.8603. Bias is turned neutral and some consolidations could be seen first. However, recovery should be limited by 38.2% retracement of 0.9327...
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Mon, 08 Feb 2010 00:00:00 +0000Market Overview
The euro fell against the dollar and the yen in Asia on Monday as European authorities at the weekend meeting of financial heads from the Group of Seven failed to offer realistic plans to help Greece out of its debt woes.
European Central Bank President Jean-Claude Trichet said Saturday in Iqaluit, Canada, where the G-7 meeting was held, the ECB expects "the Greek government will take all necessary decisions" to cut its debt burden, while the ECB "will continue to monitor closely" these steps.
Last week, Greece told the European Commission it would decrease its debt to 3% of gross domestic product from 13% currently. But market participants don't believe the plan is realistic, continuing to exert downward pressure on the European common currency, dealers said.
The euro sank Friday as sovereign debt weighed heavily on markets, with investors focused on fiscal issues in deficit-laden Greece spreading to Portugal and other euro-zone economies.
The Pound tumbled against the US dollar on the US jobs data and Euro zone sovereign debt problems. UK’s own debt problems and uncertainty ahead of an election in June continued to pressure the sterling lower. The Bank of England left rates unchanged yesterday and suspended its “quantitative easing” program.
The Australian dollar ended little changed in Asia and government bonds ended mixed as regional markets bided their time looking for fresh leads from U.S. and European markets later today.
Market expectation
The pound, euro and dollar are a bit lower against the yen on Monday as some investors outside Japan sought some risk protection on residual worry about the euro zone and prospects for weaker stock markets.
Traders said in the absence of surprises from the weekend meeting of the Group of Seven nations in Canada, the focus will remain on fiscal issues bedeviling some of the European nations.
For EURUSD traders says that he has seen no sign of the major Asian sovereign buying but suggests they may emerge below the figure, noting option barrier levels at USD1.3575, USD1.3550 and larger at USD1.3500. Rate currently trades around USD1.3635. Light data calendar for the day so attention on any euro zone developments. Bids remain USD1.3620/00, more toward USD1.3580. Offers seen placed at USD1.3645/50, more toward USD1.3660.
For Pound support now seen placed at USD1.5550, with further interest said to remain around USD1.5535/30 ahead of stronger interest between USD1.5515/00 and ahead of USD1.5450. Resistance now seen placed at USD1.5585 ahead of USD1.5600 and stronger interest at USD1.5620/2.
While further gains in the yen are expected, investors should be cautious about the Japanese authorities acting to keep the dollar from falling below JPY87, said analysts.
European stocks are expected to open higher Monday, taking their cue from a late rally on Wall Street Friday.
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