Forex News Blog
Back to The Headlines
Friday September 29, 2006 - 10:04:42 GMT
Share This Story
ACM - www.ac-markets.com
Euro was firm after hawkish ECB comments.
By Jean-Claude Braha - ACM Senior Trader
Yesterdays News and Events:
EurJpy hit one-week highs after hawkish comments from ECB policymakers confirmed expectations of two more euro zone interest rate increases this year. It hit a one-week high of 149.82 before trimming gains to 149.31. Eurusd was up 0.15 at 1.2717 and UsdJpy was up 0.25% at 117.95. The ECB has lifted rates; now at 3%, four times since last December and investors expect another 0.25% hike at its October policy meeting. That sentiment boosted the euro against the low-yielding JPY which remains vulnerable to â€ścarry tradesâ€ť as investors borrow JPY cheaply and selling them against higher-yielding currencies. Dollar dipped a little after a weaker than expected final reading of second quarter US economic growth. But trade was choppy between 1.2679 â€“ 1.2715 range.
Todays Key Issues:
GB BoE August Consumer Credit due at 08:30 GMT expected ÂŁ0.3B to $1.2B vs 1.1B. Are due at 9:00 GMT: Eurozone September CPI expected 1.9% vs 2.3% and Eurozone September Industry Confidence expected 1 vs 2. GB September GfK consumer Confidence due at 9:00 GMT expected from -9 to -4 vs -8 August. Are due at 12:30 GMT: US August Personal Income expected 0.3% vs 0.5% and US Core PCE price index expected 0.2% vs 0.1% MoM and 3.2% vs 3.4%. US September Chicago Purchasing managers due at 14:00 GMT expected 57 vs 57.1.
The Risk Today:
EURUSD maintains a slightly bearish tone as long as 1.2834 holds, we continue to favor a move to and break of 1.2630 low. This would open the gateway to 1.2560. USDCHF has defined a floor at 1.2291, just above support at 1.2287 (76.4% retracement of the 1.2183 to 1.2625). While this level remains intact, we look for extended gains targeting 1.2545 (76.4% retracement of the 1.2625 to 1.2291), and targeting 1.2625 thereafter. Intraday support cuts in at 1.2370. GBPUSD having returned 1.8920 exposes 1.8713 (76.4% retracement of the 1.8601 to 1.9076) and may pave the way to 1.8601. Maintain a near-term bearish bias below 1.8962. USDJPY remains choppy in a smaller range, with Key levels define at 116.06 low and 118.30 high - a break of either extreme is needed to initiate the next strong directional trend. Note too the fact that a key multi-year trendline / triangle resistance is located at 118.50.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2880 K ||1.9220 T ||119.20 S ||1.2800 P |
|1.2834 S ||1.8920 S ||118.50 P ||1.2625 S |
|1.2763 M ||1.8860 M ||118.30 T ||1.2545 T |
|1.2680 ||1.8720 ||118.06 ||1.2530 |
|1.2680 S ||1.8713 S ||116.06 T ||1.2497 M |
|1.2630 K ||1.8663 M ||115.56 S ||1.2370 M |
|1.2560 M ||1.8601 K ||115.20 K ||1.2287 S |
|S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot |
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 18 December 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
- POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
- POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
- POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
- POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude
co-founding Partner, Global-View.com
EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
TRADER ADVOCACY ARTICLES
Trader's Advocate Articles..