Thursday January 13, 2005 - 20:40:28 GMT
Share This Story
Forex.com - www.forex.com
Dollar Puts on the Breaks
U.S jobless Claims rose 10k in the week ending last Friday from a revised 357k. In addition, Advanced Retail Sales came in slightly better +1.2% vs. expectations of +1.1%, and ex autos printed slightly worse +.3% vs. expectations of +.4%. This morning also saw the release of the ECB rates decision, which was left unchanged (2.0%) as expected. The reaction was rather muted in the majors. EUR/USD popped from the 1.3230 level up to 1.3250 and immediately came off and traded down to the figure. It then briefly traded with a 1.31 handle before rebounding. This afternoon it has traded range bound between the 1.32 figure and 1.3220. Cable has grinded lower since the London session. We saw a high print just under 1.8930 as it grinded down to 1.8800 where is has managed to hold. USD/JPY has managed to rebound after the beating it took over the last couple of days. It has been struggling to get through 102.50 and many feel a break below 102.30 will attract in additional model selling.
Technically Speaking: EUR/USD is just off its lows on the day where it has managed to essentially hold. The slow stochastic is at a 23 reading and the MACD has just crossed on a 60 minute chart.
GAIN an Edge: We look to get long EUR/USD here as we expect an additional run at 1.33. We will look to take profit at 1.3296 and leave a stop at 1.3172
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."