Forex News Blog
Back to The Headlines
Thursday July 27, 2006 - 09:48:03 GMT
ACM - www.ac-markets.com
Share This Story:
 |
 |
Email
US Economic growth is softening By Marc Spaelti - ACM Senior Trader | Yesterdays News and Events:  Key support levels in EURUSD and GBPUSD held and it seems that the US Currency’ strength is fading after save-heaven buyers last week had been responsible for its rise. Was the outbreak of violence in Lebanon the trigger for those Dollar purchases, follow-on buyers have been missing after it becomes clear that there is no quick fix to the problem. On the economic front, German IFO was down slightly more than expected, but analysts pointed out that the business situation remains at very high levels. In further comments the IFO think-tank commented recent ECB rate hikes positively, adding there was room to do more and it was on the back of hawkish Euro sentiments that EURUSD traded bid all day. By the time the FED released its Beige Book, EURUSD was trading at the 1.27 key resistance and the level was breeched as the report pointed to evidence that US economic growth is slowing, re-enforcing the view that US rates are sufficiently high. USDJPY has also lost 1% from yesterday 117.25 high, with ongoing talk that the Chinese are likely to jack up their currency sometimes within the next few weeks, upside potential in USDJPY seems very limited. For now the Dollars medium-term bullish trend is intact, trend-line at 115.30 should be tested this week, a break is very bearish US Dollar. | Todays Key Issues: US Weekly Jobless Claims at 12.30GMT is due to increase to 313k from last weeks 304k, the 4-week average should stabilize around 315k. June Durable Goods orders due at the same time should fare strongly, they are forecast up 2% after a 0.2% dip in May. Key data will be June New Home Sales at 2pmGMT, they are expected to shed 5% to 1.16m units sold.
| The Risk Today: EURUSD: The 1.2700 key level cleared, we look to push the current ascent to 1.2785 or as high as the 1.2860 July high, in the medium-term we remain firmly bid, expecting to rise to 1.2950 in early August.
1-H GBPUSD: The very steep rise since yesterday has driven the pair to its 1.86 key resistance, an hourly close above is bullish. Short-term trend-line at 1.8580, while in place we look to continue trading higher, next target is 1.8850, minor resistance 1.8660 and 1.8730.
| Resistance and Support: EURUSD | GBPUSD | USDJPY | USDCHF | 1.2820 K | 1.8730 S | 117.15 K | 1.2550 K | 1.2785 S | 1.8660 M | 116.70 S | 1.2440 S | 1.2740 M | 1.8600 K | 116.40 M | 1.2400 M | 1.2730 | 1.8600 | 116.05 | 1.2370 | 1.2715 M | 1.8580 T | 115.95 M | 1.2325 K | 1.2700 K | 1.8530 K | 115.30 K | 1.2260 S | 1.2650 S | 1.8480 S | 114.65 S | 1.2205 S | S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot | | |
Forex Trading News
Forex Research
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
here.
Forex News
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."
|
|
Actionable trading levels delivered to YOUR charts in real-time.
Register To Test Your Amazing Trader
GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium
Mon 23 Apr 2018
A All Day- Flash PMIs
AA 14:00 US- Existing Homes Sales
Tue 24 Apr 2018
AA 01:30 AU- CPI
A 08:00 DE- IFO Survey
A 14:00 US- CB Confidence
A 14:00 US- New Homes Sales
Wed 25 Apr 2018
AA 14:30 US- EIA Crude
Thu 26 Apr 2018
AA 11:45 EZ- ECB Decision
A 12:30 US- Durable Goods
A 12:30 US- Weekly Jobless
Fri 27 Apr 2018
AA 03:00 JP- Bank of Japan
A 08:00 DE- Employment
A 08:30 GB- GDP
A 14:00 US- University of Michigan
John M. Bland, MBA co-founding Partner, Global-View.com
Start trading with forex broker Markets Cube
Max McKegg's Daily Forex Trading Forecasts
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
Request a TRIAL of Max's Forex Service.
|
pic
|
|
|
 |
|