Monday September 9, 2013 - 03:48:29 GMT
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FX Thoughts for the Day - www.fxthoughts.com
Morning Briefing : 09-Sep-2013 -0346 GMT
Equities are up overall.
The Dow (14922.50, -0.10%) has fallen coming off from the mid term resistance near 15009. While below 15000 the chances of falling towards 14000 still remains.
Nikkei (14132.62, +1.96%) has risen on Yen weakness. Line charts show resistance at current levels which needs to be broken to avoid a decline towards 13600.
Shanghai (2179.52, +1.85%) has broken the resistance near 2150 and continues to rise in an uptrend targeting 2200-2225 in the coming weeks.
Nifty (5680.40) had risen on Friday on Rupee strength. It is trading high for now and needs to break past 5750 to prevent a decline towards 5250.
Gold (1388.10) is up. It has moved up from the support at 1375 .we ca now see it moving upwards to 1400.
Silver (23.72) is up consolidating for now between 23-25.It faces an immediate resistance at 25 which may bring the prices down back to 22-23.
Copper (3.2815) advances for the second day as Chinese exports increased more than expected. Consolidating for now between 3.20-3.30, before moving up to 3.35.
Brent (116.03) is up for a fourth week due to the conflict in Syria. A rise to 118-120 can be seen in the near term.
Nymex WTI (110.22) has moved past 110. It may go up to 112-113 from here.
Euro (1.3175) has risen a bit but is in a danger of a fall towards 1.29 if it does not rise past 1.32 in the near term. Dollar Index (82.209) has dipped a bit but there are chances of moving towards 84 while above 81.00
Pound (1.5643) has moved up a bit. It may be expected to move towards 1.60. Dollar Yen (99.58) has risen a bit still targeting the mid term resistance near 110.
Aussie (0.9203) has strengthened against the Dollar. The chances of a fall towards 0.90 looks bearish.
The R-currencies are mixed. The Ringgitt (3.313) has weakened a bit while the Rand (10.0183) and the Real (2.2978) have strengthened.Dollar Rupee (65.24) closed a bit lower on Friday. It further move is unclear for now.
US 10-Yr (2.95%) is down. We see a long term resistance at 3.00%-3.10%, it may come off from those levels if the resistance holds. US-Japan 10-Yr Spread (2.18%) is up as Dollar Yen rises.
The UK 10-Yr (2.76%) is down. A further fall and it may go below 2.70%.
23:50 GMT or 5:20 IST JP GDP
...Expected 1.00% ... Previous 0.60% ...Actual 0.90%
UK Trade Balance
...Actual -9.85 £ (Bln)...Previous -8.17 £ (Bln)
...Actual 169 % ...Previous 162 %
US Unemployment Rate
...Actual 7.30 % ...Previous 7.40 %
CA Labour Force
...Actual -59.2 K ... Previous -39.40 K
...Actual 51.0 ...Previous 48.40
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