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Forex Forum Archive for 02/1/2009

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Munich Peter 23:51 GMT February 1, 2009
QIndex Trading System

Thanks Dr.Q. GL GT to you.

Syd 23:42 GMT February 1, 2009
China called for unity
Reply   
China called for unity in its armed forces on Sunday and absolute obedience to the Communist party - Update
- The comments come as Chinese officials are becoming wary of rising unrest as the economy slows.

Mtl JP 23:32 GMT February 1, 2009
Foreign bank withdrawal is the big danger

threat = profit opportunity. what does David Uren, Economics correspondent not get ?

Syd 23:17 GMT February 1, 2009
Foreign bank withdrawal is the big danger
Reply   
THE withdrawal of credit to Australia by foreign banks is the greatest threat facing the economy in the year ahead.
The slide in business lending in December, which the Reserve Bank attributed to lower foreign currency lending, is a harbinger of things to come
LINK

Syd 23:10 GMT February 1, 2009
Australian Planned Capex Slowed Sharply In 4Q - Access
Reply   
Planned business investment in projects in Australia - a major driver of economic growth - slowed sharply in the fourth quarter of 2008, a trend that will continue under the weight of the global economic crisis, according to a report issued Monday. New projects have failed to replenish those being completed and others have been deferred, with a number of major projects also shelved in recent months, according to a quarterly Investment Monitor report by consultancy Access Economics.

"The result is likely to be a sharp fall in business investment over the next two years," it said.

A downturn in investment was on the cards as Australia's rate of business investment relative to output had moved to an unusually high level in recent years, meaning that investment would have had to pull back at some point anyway, Access said. Accelerating that decline is the global economic crisis, which is cutting sharply into capacity utilization and hence the need for more investment, the report said.

"The tide has turned very quickly," it said.

BERLIN (AFP)--As the recession bites, 78% of Germany's small and medium-sized companies said they are in favor of protectionist measures, according to a new study released Sunday.

A year ago the percentage stood at 43%, the global accounting firm Ernst & Young which conducted the study said.

NZ's 4Q wages data, employment indicators clearly show labor market weakening quite significantly, risks around Thursday's 4Q jobs data point to bigger-than-expected unemployment rate, fall in jobs, says Bank of NZ's markets economist Craig Ebert; "all in all it was a very clear sign that things are weakening even through a notoriously slow market to weak which is the labor market." Notes normally labor market data has long lags, so market usually discounts it; "but I think it will be important as it will help gauge just how bad things are actually getting, and the risks for unemployment rate here and overseas to rise quite significantly." Says Keeps RBNZ on easing-path, as points to forward-looking indicators continuing to be soft. "In essence it's really up to how the business sector handles the slowdown. It will be a real challenge for the sector as it's been ages since it's been put to this test."

Mtl JP 23:05 GMT February 1, 2009
fx

Syd ... and so the mono-thinking morons - like Geoffrey Yu - complain that someone dares to think outside their prescribed mono-box... the cheek of it !!

Syd 22:31 GMT February 1, 2009
fx
Reply   
The European Central Bank's cautious policy approach appears increasingly out of line compared with other major central banks. As the ECB keeps interest rates above the lows of the Federal Reserve and Bank of England, currency analysts say the ECB is ignoring reality and makes investors less willing to hold euros. "This creates serious credibility problems," said Geoffrey Yu, a currency strategist at UBS in London. With the ECB's next meeting coming up on Thursday, and so soon after its January meeting, no change is expected in the bank's main lending rate or in its policy statement.

IMF Forecasts Australian Growth Below Zero: Rudd
Australian Treasurer Swan finally concedes what many analysts thought inevitable; Australian budget headed for deficit as company revenues slow, with Swan tipping global financial crisis could wipe A$50 billion from company taxes over four years. Treasurer won't be drawn on likely size of deficit, which would be first since fiscal year ending June 30, 2002, or whether it'll last for several years, saying only that government committed to surpluses on average over economic cycle; will return to surplus "when economic conditions normalize". Also won't say whether Treasury department has revised lower its GDP forecasts, as IMF at weekend tipped Australian GDP will contract 0.2% in 2009 vs previous 2.2% forecast

UK PM Brown: Intervention to support the pound is a 'recipe for failure'

Bilad KaL 21:45 GMT February 1, 2009
QIndex Trading System

Will Long eurusd at 1.2435
TGT
1.3095

Not sure But got this level for next month
1.3898

I think some rallie is on way

Syd 21:42 GMT February 1, 2009
IMF Official: 100-Bp Rate Cut By RBA Would Be Appropriate
Reply   
A cut in Australian interest rates this week of 100 basis points to an unprecedented low of 3.25% would be an "appropriate" response to the global financial crisis, the International Monetary Fund told Australian Broadcasting Corp radio Monday.
Ray Brooks, the IMF's Asia division chief, also said in an interview that allowing the Australian government's budget to move into deficit would be advisable at this point.

With the RBA's policy-making board set to meet Tuesday for the first time since December "they should certainly cut rates further," Brooks said.

The IMF over the weekend slashed Australia's economic growth forecasts to minus 0.2% in 2009, down from an earlier forecast of 2.2%.

The forecast revision has swept away any lingering hope that Australia would ride out the worst of the crisis. Treasurer Wayne Swan is expected to announce a second fiscal stimulus package this week to help cushion the downturn.

LA Paoy 21:28 GMT February 1, 2009
GBP
Reply   

someone calls a bottom?

GVI Forex Jay 16:40 GMT February 1, 2009
Feedback Request
Reply   
We are looking to expand discussions by subject and would like your assistance.

Please send me the names of any subject threads you think would be of interest and that you might be willing to support.These can be for any of our forums but specifically the forex or help forums and on any topic.

Send me your feedback by EMAIL

Hong Kong Qindex 15:21 GMT February 1, 2009
QIndex Trading System

Sell EUR/USD
Entry: Target: Stop:

EUR/USD : The market may vibrate around 1.2878 with an expected magnitude of 1.2700 - 1.3055. Eventually it will tackle 1.2523. If the downward trending momentum is strong enough to penetrate through 1.2167, the projected chart point at 1.1812 is going to be challenged.

Hong Kong Qindex 15:06 GMT February 1, 2009
QIndex Trading System

Munich peter 12:51 GMT - EUR/USD : It will test the supporting strength of 1.2614.

Munich peter 12:51 GMT February 1, 2009
QIndex Trading System

Dr.Q., would you like to share your opinion on eurusd for the upcoming week? Many thanks IA.

Hong Kong Qindex 08:32 GMT February 1, 2009
QIndex Trading System

Sell S&P 500
Entry: Target: Stop:

S&P-500 (March) : Downside Targeting Point 410.8


The trading reference indicates that the market has a tendency to consolidate further within 735.7 - 865.7. If the downward trending momentum is strong enough to penetrate through 735.7, the odds are good that the market will tackle the lower barrier at 573.2 // 605.7*. The market is negative when it is trading below 540.8 and a critical supporting point is positioning at 410.8.


S&P 500 : Trading Reference :

... 410.8 - 475.8* - 540.8 - 573.2 // 605.7* - 638.2 - 670.7 - 703.2 - 735.7* - 768.2 - [800.7] - 833.2 - 865.7* - 898.1 - 930.6 - 963.1 - 995.6* // 1028.1 - 1060.6 - 1125.6* - 1190.5 ...

Mtl JP 04:25 GMT February 1, 2009
Australia in recession: IMF

SYD the clueless morons are / will be all sinking together: They do not GET it: the quicker and deeper the burn, the faster a solid foundation would be reached from which to start rebuilding. But noooo... they' ll resist with more moRE:

January 30, 2009 - OTTAWA - Canada's recession is spreading from the car factories to the coffee shops, reinforcing the case for Finance Minister Jim Flaherty's $40-billion stimulus program and adding to the risk that he may have to do more.

Hong Kong Qindex 03:06 GMT February 1, 2009
QIndex Trading System

Sell S&P 500
Entry: Target: Stop:

S&P-500 (March) : Heading Towards 783.8


As shown in the distribution profile of the monthly cycle probability chart the market is pulling towards the projected chart point at 783.8. The market is under pressure when it is below the monthly cycle pivot center at 807.6. The weekly cycle pivot centers are located at 762.6 - 819.1 - 871.5. If the downward trending momentum is strong enough to penetrate through 762.6, the supporting range at 687.6 - 689.0 is likely to be challenged.

Hong Kong Qindex 03:03 GMT February 1, 2009
QIndex Trading System

Sell S&P 500
Entry: Target: Stop:

S&P-500 (March) : Heading Towards 783.8


As shown in the distribution profile of the monthly cycle probability chart the market is upping towards the projected chart point at 783.8. The market is under pressure when it is below the monthly cycle pivot center at 807.6. The weekly cycle pivot centers are located at 762.6 - 819.1 - 871.5. If the downward trending momentum is strong enough to penetrate through 762.6, the supporting range at 687.6 - 689.0 is likely to be challenged.

Syd 02:12 GMT February 1, 2009
Australia in recession: IMF
Reply   
THE global financial crisis has dragged Australia into recession with its economy forecast to contract by 0.2pc this year, according to the International Monetary Fund.

The unpublished IMF forecasts for Australia suggest that the recession will be drawn out, with economic growth predicted to recover by a weak 1.75 pc in 2010.

The Autralian revealed last week that the IMF was due to revise down its 1.8 pc forecast for Australian gross domestic product growth in 2009 to close to zero.

Confirmation that the economy will go backwards this year suggests unemployment could rise steeply.

It will put pressure on the Reserve Bank to cut official interest rates by another 100 basis points on Tuesday.

Australia has been one of the last developed countries to slip into recession, in part because of the lingering boost from China's boom.


http://www.theaustralian.
news.com.au/story/0,25197,24989652-601,00.html

HK [email protected] 02:09 GMT February 1, 2009
DA COCONUT
Reply   
madrid 20:28 GMT January 31, 2009
Of confidence and coconut trees: Reply
- Of confidence and coconut trees


You tell Mr. Montek Singh:

"That you don't hold conferences under a coconut tree".

Maybe one nut has hit already his head, and that is the reason such a "smart" sentence came out of him.

Coconut trees are not falling that fast, even during strong storms, known also as the Tree Of Life, Mr. Singh example is not too wise.

 




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