Forex News Blog
Back to The Headlines
Thursday September 27, 2007 - 11:53:24 GMT
Share This Story
ACM - www.ac-markets.com
US Durable Goods Orders worse than expected; dollar unchanged
By James Brandt - ACM Advanced Currency Markets, Geneva, Switzerland
News and Events:
US Durable Goods Orders for August fell by 4.9% versus an expected drop of 3.5% and a 5.9% increase in July. Durables excluding transportation fell by 1.8% versus an expected drop of 0.8% and an increase of 3.7% in July. The US equity market however opened strong following news of General Motors and the United Auto Workers union reaching an agreement to end the worker strike. The US dollar resisted the weaker news, finishing unchanged against the Euro and slightly stronger against the Pound. On the flip side, investors remain tentative as worries persist of a recession in the US and higher probabilities of further rate cuts from the FOMC.
The British Pound has been under pressure as the Bank of England released its credit conditions survey yesterday which pointed towards tightening in the corporate sector credit markets in the near term.
Swedish manufacturing numbers and consumer confidence came out weaker than expected, which mirrors sentiment during the market's turmoil in recent weeks. Investors have lowered their GDP estimates in line with slower economic growth to come.
Today's Key Issues (time in GMT):
07:55 GE Unemployment Change (000's) SEP -20K vs -15K
07:55 GE Unemployment Rate (s.a) SEP 8.90% vs 9.00%
08:00 EC Euro-Zone M3 s.a. (YoY) AUG 11.70% vs 11.70%
08:00 EC Bloomberg Eurozone Retail PMI SEP
08:00 GE Bloomberg Germany Retail PMI SEP
08:00 IT Trade Balance Non-Eu (Euros) AUG
08:00 IT Bloomberg Italy Retail PMI SEP
08:00 FR Bloomberg France Retail PMI SEP
08:00 EC Euro-Zone M3 s.a. 3 mth ave. AUG 11.50% vs 11.10%
08:30 UK Index of Services (3mth/3mth) JUL 0.80% vs 0.80%
08:30 UK BBA Loans for House Purchase AUG
10:00 UK U.K. CBI September Distributive Trades Report
12:30 US GDP Annualized 2Q F 3.90% vs 4.00%
12:30 US Personal Consumption 2Q F 1.40% vs 1.40%
12:30 US GDP Price Index 2Q F 2.70% vs 2.70%
12:30 US Core PCE QoQ 2Q F 1.30% vs 1.30%
12:30 US Initial Jobless Claims Sep-22 317K vs 311K
12:30 US Continuing Claims Sep-15 2555K vs 2544K
14:00 US New Home Sales AUG 828K vs 870K
14:00 US New Home Sales MoM AUG -4.90% vs 2.80%
14:00 US Help Wanted Index AUG 24 vs 25
17:00 FR Unemployment Rate AUG 8.00% vs 8.00%
17:00 FR Unemployment Change (000s) AUG -10K vs 0K
The Risk Today:
EurUsd up trend holding strong after hitting 1.4163 earlier today. The trend remains intact above 1.4043, which holds as the first (minor) support down to 1.4000.
GbpUsd still in a short term range between 1.9873 and 2.0373. First support holds at 2.0081, while a break out of 2.0321 up to 2.0373 will open the door back to 2.0654.
UsdJpy key levels to focus on are support at 113.99 and resistance at 116.38. Follow the breakout.
UsdChf downtrend still intact as ADX(14) continues to rise on a daily look. Initial resistance holding at 1.1772 and support at 1.1638.
Resistance and Support:
|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..