Forex News Blog
Back to The Headlines
Monday October 9, 2006 - 07:21:56 GMT
Share This Story
ACM - www.ac-markets.com
Dollar rose after sharp upward US jobs growth revision.
By Jean-Claude Braha - ACM Senior Trader
Yesterdays News and Events:
The Dollar hit six-month highs against the Yen on Friday after a report showed sharp upward revisions to US jobs growth, despite a surprisingly weak reading for September, erasing some fears about a weakening economy. The Dollar initially slipped after the report, which showed the US created just 51k new jobs in September, well below consensus forecasts for 125K. Eurusd reached a 10-week low after the US Labor Dept. said it had sharply undercounted job growth in the year end march. The Dollar also rose to a seven-month high against the Yen, helped by media report that North Korea may test a nuclear weapon this week. The UsdJpy was up more than 1% at 119.93 and made Friday its biggest daily rise in around 21 months. It earlier hit a peak of about 119.30, the highest since March 2006. The Yen was under pressure across the board, also taking losses against GBP and EUR.
Todays Key Issues:
US Columbus Day (Bonds & Fed Closed, Equities & Futures Open). JPN Sports Day (Japanese Markets Closed). CAD Thanksgiving Day (Canadian Markets Closed). Are due at 8:30 GMT; GB September PPI expected respectively -1% vs -1.2% MoM and 6.7% vs 7.6% YoY. German Industrial Production due at 10:00 GMT is expected 6% vs 4.7%.
The Risk Today:
EURUSD found a temporary support at 1.2570 (76.4% retracement of the 1.2456 to 1.2941 advance on Friday), but with the break of 1.2630 intensifying downward pressure, it could extended down trend beyond 1.2570 driving the way to 1.2456. USDCHF remains in a bull trend, having tested the peak at 1.2625 on Friday. We could see further upside towards 1.2736 (61.8% retracement of the 1.3241 to 1.1919 decline). Thereafter market is spotting 1.2930 (76.4% retracement). Near-term support resides at Friday's 1.2490 low, but the up-trend remains dominant above 1.2400. GBPUSD is heavy short-term below 1.8901, and approximate 61.8% retracement of the 1.8633 to 1.9076 advance, but extended downside under 1.8601 is needed to signal a move outside the current range. USDJPY targets 119.40 and could reach very soon the psychological 120.00 level. It has a strong bullish tone after having break-up multi-year trend-line resistance at 118.50 originating from 1998.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2880 K ||1.9144 T ||121.40 T ||1.2800 P |
|1.2670 S ||1.9075 M ||120.74 M ||1.2736 S |
|1.2630 M ||1.8901 S ||119.40 S ||1.2625 M |
|1.2596 ||1.8702 ||118.00 ||1.2604 |
|1.2570 S ||1.8663 M ||118.50 P ||1.2490 M |
|1.2560 K ||1.8601 K ||117.32 M ||1.2370 M |
|1.2450 T ||1.8400 T ||116.06 T ||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 23 October 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.
- POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.
- POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.
- POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.
- POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.
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..