Forex News Blog
Back to The Headlines
Friday October 13, 2006 - 10:09:20 GMT
ACM - www.ac-markets.com
Share This Story:
 |
 |
Email
Dollar inches down on record monthly US trade gap.
| By Jean-Claude Braha - ACM Senior Trader |
Yesterdays News and Events:
 The Dollar showed little reaction to US economic reports Thursday, trading softly lower from previous days but remaining in narrow ranges in North American session. The deficit widened to $69.86B in August from a revised $68B in July, over all expectations fro a narrowing to $66.7B. This fall was the second consecutive record number mostly because of higher oil prices. But analysts already comment expectations for better numbers in September and October hopping for lower oil prices. Similarly, the Dollar showed little reaction to the release of Federal Reserve’s Beige book which indicated that the US economy continued to expand in September. Some analysts said the Dollar could be ready for a trend reversal but it depends on whether the US retail Sales report provides an impulse. Yesterday Canada released an August Trade report showing trade surplus slightly wider than expected. Eurusd recovered from yesterday 1.2519 low to 1.2567 intraday high. UsdJpy went to the lower end 119.26 after 119.68 high. Gbpusd ended around 1.8600 in daily range 1.8537 – 1.8614.  |
Todays Key Issues:
Early this morning, BoJ left monetary policy unchanged and kept the overnight call rate at 0.25%. ECB’s Stark gives speech at European Institute in Dublin at 9:30 GMT. CAD New August Motor Vehicle Sales due at 12:30 GMT is expected 3% unchanged. Are due at 12:30 GMT; US September Retail Sales and Import Price Index respectively expected 0.2% unchanged and 0% vs 0.2%. US October University of Michigan Confidence Survey is due at 13:45 GMT expected 86 vs 85.4.
|
The Risk Today: EURUSD bearish outlook remains intact following last week break down 1.2570. This reinforced the down-trend could expose further downside towards 1.2450. Next supports are standing at 1.2400 and 1.2266 (50% and 61.8% retracements of the 1.1825 to 1.2980). USDCHF couldn’t break 1.2736 (61.8% retracement of the 1.3241 to 1.1919) and eased around 1.2680. Break up of 1.2736 is seen as the trigger for additional upside towards 1.2930 (76.4% retracement). Weakness only appears below 1.2400. GBPUSD is testing 1.8601 key level but couldn’t move clearly away. Maintain a negative tone below Monday's 1.8715 top. USDJPY maintains a bullish outlook over Monday's 118.82. Only a break below is required to end the up-trend and cancel expectation of a test of 120.00 psychological resistance. In the case of further advance, expect potential gains 121.40. |
Resistance and Support: | EURUSD | GBPUSD | USDJPY | USDCHF | | 1.2880 K | 1.9144 T | 121.40 T | 1.2930 S | | 1.2630 P | 1.8901 S | 120.74 M | 1.2800 P | | 1.2570 S | 1.8715 M | 120.00 P | 1.2736 S | | 1.2558 | 1.8614 | 119.18 | 1.2684 | | 1.2450 T | 1.8601 P | 118.83 M | 1.2640 M | | 1.2400 S | 1.8400 T | 118.50 P | 1.2400 K | | 1.2325 S | 1.8090 K | 116.06 T | 1.2287 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
|
|
|
|
|
 |
|
RSS News Feed