Syd 23:13 GMT January 5, 2011
Two-way eurozone split led by Germany could solve 'rolling debt crisis'
Reply
Telegraph columnist Roger Bootle tells Robert Miller why the eurozone faces a 'rolling debt crisis' for years to come and why a break-up is now 'more likely than not'.
LINK
Brazil pledges to stop US 'melting the dollar'
Brazil has sounded a new note of warning in the international "currency war" by pledging not to allow the United States to "melt the dollar".
LINK
History Hints AUD/USD May Have Peaked For Now - ANZ
AUD/USD is on the slide at the start of 2011 notes ANZ with last nights price action suggesting there was a clean-out of the most crowded trades such as long AUD, gold, CHF and copper. Another negative for the rate may come from unwinding of Christmas and New Year yield plays which the bank says historically tend to support AUD from mid-December until mid-January. The timing and length of AUD end-of-year rallies since 2000 suggests that if history repeats itself then AUD/USD may have reached a near-term peak, especially given the early start to the December/January rally.
The EUR/USD is enroute to the 1.2970 area due to stronger USD and data disappointments in the eurozone, say BNP Paribas strategists
The AUD/USD looks set to stay in a vulnerable position targeting 0.9830 and then 0.9755 initially, say BNP Paribas strategists. "We have suggested that a rebound in yields as a result of stronger US data would reduce the attractiveness of commodities, putting commodity currencies at risk."
China is "trying to be nicer to Europe at the moment, partly because they don't want the euro to collapse," Jonathan Fenby, director of China research at Trusted Sources, told CNBC.
China Being 'Nice' to Europe
Lahore FM 22:31 GMT January 5, 2011
Trade Ideas
Buy OTHER
Entry: 0.7576 Target: 0.7700 Stop: 0.7490
long now on kiwi.
Syd 22:14 GMT January 5, 2011
HOME owners are starting to feel the squeeze of successive interest rate rises, and new home develop
Reply
EU plans for bondholder haircuts unsettles debt markets
The European Commission will on Thursday press ahead with plans to spread the burden of EU bank failures to senior bondholders, marking the start of harsher times for Europe’s creditors.
HOME owners are starting to feel the squeeze of successive interest rate rises, and new home development is cooling
It deepened a 2 per cent drop over the three months to November, and sales were down 11 per cent compared with the same period in 2009.
LINK
Flood disaster to cut GDP by $2.5bn
Mr Boak said that economic negatives could include delays to the planned coal-seam gas projects in Queensland.
LINK
China likely to use stronger yuan to curb inflation
A stronger exchange rate is likely to be one of the tools China uses to curb inflation in the first quarter, a government economist said Wednesday, as Beijing tries to stem a flood of liquidity.
LINK
LINK
Lahore FM 22:12 GMT January 5, 2011
Trade Ideas
Buy AUDCAD
Entry: 0.9963 Target: Stop: 0.9880
went long for something above 1.03.
GVI Forex john 22:12 GMT January 5, 2011
GVI Forex Trading Support
Earlier data errors in moving average and pivot points have been corrected.
Lahore FM 22:11 GMT January 5, 2011
Trade Ideas
Sell AUDCAD
Entry: 1.0088 Target: Stop:
closed remainder last potion at current for 138+ in total.
GVI Forex john 21:32 GMT January 5, 2011
GVI Forex Trading Support
GVI CHART POINTS
Entry: Target: Stop:
Trading Resources...
Israel dil 21:30 GMT January 5, 2011
whipsaw
Quito Valdez, thank you for explaining and sharing.
jerusalem kb 21:30 GMT January 5, 2011
sell gbpusd
Reply
Sell GBPUSD
Entry: 1.5510 Target: 1.3355 Stop: 1.5585
sold
GVI Forex john 21:29 GMT January 5, 2011
GVI Forex Trading Support
USD PIVOT POINTS
Entry: Target: Stop:
Pivots EURUSD USDJPY USDCHF GBPUSD USDCAD AUDUSD NZDUSD
Res 3 1.3472 85.28 0.9953 1.5779 1.0101 1.0170 0.7746
Res 2 1.3398 84.33 0.9819 1.5703 1.0061 1.0122 0.7713
Res 1 1.3274 83.80 0.9739 1.5605 1.0012 1.0056 0.7643
Pivot 1.3200 82.85 0.9605 1.5529 0.9972 1.0008 0.7610
Sup 1 1.3076 82.32 0.9525 1.5431 0.9923 0.9942 0.7540
Sup 2 1.3002 81.37 0.9391 1.5355 0.9883 0.9894 0.7507
Sup 3 1.2878 80.84 0.9311 1.5257 0.9834 0.9828 0.7437
GVI Forex john 21:27 GMT January 5, 2011
GVI Forex Trading Support
USD MOVING AVERAGES
Entry: Target: Stop:
Latest EURUSD USDJPY USDCHF GBPUSD USDCAD AUDUSD NZDUSD
Last 1.3149 83.28 0.9660 1.5507 0.9962 0.9989 0.7573
High 1.3325 83.37 0.9684 1.5627 1.0022 1.0075 0.7680
Low 1.3127 81.89 0.9470 1.5453 0.9933 0.9961 0.7577
Change -0.0149 1.27 0.0174 -0.0079 -0.0024 -0.0058 -0.0096
MVA EURUSD USDJPY USDCHF GBPUSD USDCAD AUDUSD NZDUSD
5 day 1.3289 81.94 0.9436 1.5517 0.9967 1.0115 0.7694
10 day 1.3234 82.10 0.9473 1.5474 0.9996 1.0108 0.7639
20 day 1.3219 82.90 0.9559 1.5532 1.0050 1.0020 0.7540
50 day 1.3424 82.80 0.9739 1.5754 1.0091 0.9929 0.7619
100 day 1.3388 83.13 0.9832 1.5713 1.0200 0.9702 0.7475
200 day 1.3086 86.67 1.0355 1.5412 1.0261 0.9274 0.7267
TREND EURUSD USDJPY USDCHF GBPUSD USDCAD AUDUSD NZDUSD
BIAS Up Down Down Down Down Up Up
GVI Forex john 21:25 GMT January 5, 2011
GVI Forex Trading Support
Global-View Chart Gallery updated. A wide selection of updated forex, interest rate and equity charts.
Global-View Market Tracker updated. Twice daily survey and technical studies of a broad range of related markets.
Quito Valdez 21:23 GMT January 5, 2011
whipsaw
Israel dil, in addition to my quick grab every week's Asian open on EUR/CHF, I am encouraged to do this when the pair trends south for an obvious reason, it's hard to lose.
Now, if the pair trends north, I'd reconsider this pat Sunday short position trade entirely and realize that no trend is forever.
Couple the short trend with common sence that Euro is considered less stable than CHF and that ramifies my confidence yet more.
I take less risk than most traders so my position TPs may be shy of more pops compared to other traders' tactics. I am out for moderate profit but take the "sweet spot" out of a move rather than try to get the whole thing and have profits vanish as the pair blows back on me. There is no "pat" advice I can give you on this either.
GVI Forex john 21:09 GMT January 5, 2011
GVI Forex Trading Support
UPDATED. Global-View Free FX Database. High-Low-Close data for over a dozen currency pairs for well over a decade of data in Excel spreadsheet format.
Lahore FM 21:00 GMT January 5, 2011
Trade Ideas
Buy EURCAD
Entry: 1.3264 Target: Stop: 130 pips
01/04/2011 07:35:26 FM Lahore 42
Buy EURCAD
Entry: 1.3264 Target: 1.35 Stop: 130 pips
bought.
--
it stopped for all of 130 minus.
Lahore FM 20:57 GMT January 5, 2011
Trade Ideas
Buy GBPUSD
Entry: Target: Stop:
something bullish cooking up for gbpusd and some other gbp crosses.i have taken up soem longs on gbpusd and gbpcad
Quito Valdez 20:56 GMT January 5, 2011
whipsaw
The reason I prefer EUR/CHF for my "standard Sunday short" is because invariably this pair will short below opening value around 50 pips or more especially last quarter when the pair shorted as a whole. In that trade I simply can't go wrong and bet rather heavy on those scant 50 pips. Sometimes I keep part of the position going and gain yet more.
As to why I chose that pair over the other swiss pairs is because the other ones don't seem to have the consistence of shorting Monday as does EUR/CHF. What I'm after on that trade is simply a quick grab, aside from anything else I do the rest of the week. I like to start off the week with a heavy win. Then if I have a position blow back on me, I take that out of winnings instead of out of my pervious account but still maintain a positive each week no matter what. If I lose over 20% of my winnings I shut down usually for the rest of the week. The idea is to gain weekly, however much, not lose, so I don't allow losses to eat up wins for the week. I never go negative in any given week using the above tactic especially an initial heavy win with EUR/CHF shorting off Asian open Sunday.
The reason I don't like GBP/CHF as much is because it's randomly up and down and doesn't always short 50 pips off Asian open Monday. There have been times also when EUR/CHF didn't meet 50 pips either but not much and with a south trend it doesn't make any difference, I just keep it in position and no stop and eventually it wins and usually much more than just 50 pips. I don't use stops much. If I am not confident in a trade I don't place it and stops are for trades in whiich confidence is questionable.
At times I used to use stops when I was away from the computer enough not to supervise things and I wasn't sure about the trade. I lost more winnings then, than I lose now and yes I do lose winnings sometimes...but as I said I limit loss to no more than 20% of my week's winnings.
I'm not saying this trading method is for everyone, it's not, it's just what works for me. I don't use tech nor fundamentals much either. You ask, "What in blazes do you use then?" I can't answser that question for I don't know that even myself. I pay attention to Fib and MA somewhat and it helps create my bias...but I don't trade on them exclusively like some do.
Israel dil 20:25 GMT January 5, 2011
whipsaw
Quito Valdez, as usual a good read from your side. if I may ask, why you prefer not to trade GBP/CHF and only USD/CHF & EUR/CHF, thanks in advance for explaining and good trades to you.
Quito Valdez 19:59 GMT January 5, 2011
whipsaw
Reply
The first of year whipsaw John and Jay warned about and that we all see now, keeps me from trading midweek in January other than my standard weekly guaranteed Sunday placed short EUR/CHF for 50p. As positions re-enter and funds are traded to do simple buy-sell business at the year's start as opposed to repatriated funds at year's end, the charts are simply random. Trading would therefore be pure luck and that's not how I trade. Luck is for gamblers, trading is for traders.
February will see me looking for position opportunities, not promising I'll position heavily either.
The reason CHF is taking a beating is franks are being changed to GBP, JPY, USD and EUR for business money transfers and also just simple big player repositioning and the necessity to buy other cncys than CHF.
I will be looking for this first of year "sqirming around" to quit in a week or two and I might buy CHF with EUR and maybe USD, but small positions at first. We'll see. Can't offer a bit of advice for today however other than play conservatively.
lkwd jj 19:44 GMT January 5, 2011
silver
still watching the 20d ma with close below today. 2950
lkwd jj 19:36 GMT January 5, 2011
silver
stopped out in silver @ 29.20.
jerusalem kb 19:17 GMT January 5, 2011
buy pending order on audjpy
RANA since long time and you are commenting and mentioning that audjpy will go down to 72/65 or maybe even 50(by the way you are talking about 3300pips).
i just want to say that i am very happy with the 300pips+i gained from this pair last month and today and now i am running 115pips+ targeting 84.05 and may change my mind for higher price.
i am trading what i see not what i expect.
NGN CFANFX 18:50 GMT January 5, 2011
buy euraud order
Reply
Buy EURAUD
Entry: 1.3150 Target: 1.3325 Stop: 1.3093
I LONG HAAPY TRADE
tokyo rana 18:43 GMT January 5, 2011
buy pending order on audjpy
its hard to explain why not u study ur own...usa housing data will collapse ithink than banks will collapse so jobs problem will come soon markeet will tell u....long term yen chf is buy....aud not trust able currency even usd euro look data....
Tallinn viies 18:41 GMT January 5, 2011
eurusd
Reply
so basically if this hedging is behind it and daily range today 200 then wouldnt be suprised if tommorow daily range 250 ticks
Tallinn viies 18:36 GMT January 5, 2011
eurusd
Reply
ex - 10 am ET-
UK 15:00
London ex 18:32 GMT January 5, 2011
eurusd
What time is NY cut?
tokyo rana 18:30 GMT January 5, 2011
buy pending order on audjpy
yen will gain still alot...yen will go further just wait and see usdjpy soon say hello to 72/65 or maybe even 50....no need to trust me its so easy to know if we go through fundas...iknow why stocks going up and why it will come down...happy day,
tokyo rana 18:25 GMT January 5, 2011
buy pending order on audjpy
jerusalem kb 18:22dear brother,charts is just chart aud is negitive due to many funda it will not break against jpy forget about that iwill go very low......happy day,
Cambridge Joe 18:23 GMT January 5, 2011
1.2777ZEUS
A very nice & happy day Rana.
Well played Sir !
Keep up the good work !
jerusalem kb 18:22 GMT January 5, 2011
buy pending order on audjpy
AUDJPY
Entry: Target: Stop:
POSITION UPDATE:
looks like we have another trade setup where price breaks 100% and it is highly possible to target 161.8.
82.75 is main support
sl now at 82.45 and target 84.05
Tallinn viies 18:16 GMT January 5, 2011
eurusd
Reply
nyc s-Im not an option expert but most likely writer doesnt have time to defend it, just busy to do delta hedge.
closer to expiry bigger amount delta hedger needs to sell and buy. basically may move markets if pay out 200 mios.
of course mnaybe do not need to delta hedge if hedged otherwise
tokyo rana 18:05 GMT January 5, 2011
1.2777ZEUS
Sell AUDJPY
Entry: soon Target: open Stop: later
eurusd 50pips plus audusd 40pips plus usdjpy 10pips minus closed stocks looks heavy...happy day,
GVI Forex Jay 18:00 GMT January 5, 2011
Tech Talk
High just now was 1.3191 before being beaten back.
GVI Forex Jay 17:48 GMT January 5, 2011
Tech Talk
As posted in GVI Forex
GVI Forex Jay 17:44 GMT January 5, 2011
Tech Talk: Reply
High just now was 1.3186 but still has a bid. Market is not sure what theme to trade on. Typical of week one in a new year.
GVI Forex Jay 16:56 GMT January 5, 2011
Tech Talk: Reply
EUR/USD 1.3168, 83 and 88 block a return to 1.32.
nyc s 17:28 GMT January 5, 2011
eurusd
viies does that mean the writer of the option will look to defend that level???
Tallinn viies 17:21 GMT January 5, 2011
eurusd
Reply
so this structure is still live and kicking :)
they say pay out 15-20 musd.
Hearing that a 1.3125 exotic option, carrying a large payout, rolls off at NY cut tomorrow. The exotic is a "Below" European Digital - owner of the option will receive a payout if spot is below 1.3125 at expiry
nyc ws 17:18 GMT January 5, 2011
What's the buzz?
Maybe the euro is seen as a good candidate for a funding currency even if its rates are higher than say chf and jpy and even the usd as the currency has a bigger downside risk.
GVI Forex Blog 17:09 GMT January 5, 2011
Reply
USD/JPY (a 4-hour chart of which is shown) as of Wednesday (1/05/2011) has risen sharply and substantially to breakout above several different resistance levels, including the key 83.00 level.
USD/JPY Surges to the Upside
jkt-aye 17:06 GMT January 5, 2011
confused
Reply
EURJPY
Entry: Target: Stop:
toward 109.00 ?
GVI Forex Blog 16:48 GMT January 5, 2011
Reply
The greenback has sustained its upward momentum in the US. The USD/JPY led the charge as it tested above the 83 handle, EUR/USD dipped below the 1.32 area while USD/CHF edged back above the 0.96 neighborhood.
TradeTheNews.com US Market Update
GVI Forex Blog 16:48 GMT January 5, 2011
Reply
The greenback has sustained its upward momentum in the US. The USD/JPY led the charge as it tested above the 83 handle, EUR/USD dipped below the 1.32 area while USD/CHF edged back above the 0.96 neighborhood.
TradeTheNews.com US Market Update
GVI Forex john 16:30 GMT January 5, 2011
GVI Forex Trading Support
CALENDAR
Entry: Target: Stop:
January 5 (global-view.com) UPCOMING DATA HIGHLIGHTS for Thursday, January 6:
- Far East: No major releases.
- Europe: Switzerland- CPI, EZ- Retail Sales, GB- ISM Sedrices PMI, DE- Industrial Orders.
- North America: Weekly Jobless Data, Natural Gas. CA- Ivey PMI.
Updated: Trading Events Calendar
GVI Forex Blog 16:15 GMT January 5, 2011
Reply
We are two years on the other side of the near death of modern capitalism…well maybe that is too broad a moniker…the near death of modern finance instead. Yet many are still positioned as if the world will end at any moment,
Q1 Idea...Fade Black Swan Trades (FXA)
kl fs 16:08 GMT January 5, 2011
Usd/Yen looking toppish 83.26
short usdjpy as well with Mailman at 83.29, testing the pattern, next 24 hours will go lower, stop should be above 83.70
London HC 15:58 GMT January 5, 2011
Trade Ideas
eurusd is trailing now and up on most crosses from earlier.
GVI Forex Jay 15:46 GMT January 5, 2011
Trade Ideas
JJ data was released at 15:00 GMT
jerusalem kb 15:43 GMT January 5, 2011
buy pending order on audjpy
closed half with 95pips , don`t know if it can go higher from this level or not .
2nd half 84.55
GVI Forex Jay 15:38 GMT January 5, 2011
SELL BREAK OF 1.3290
kb, nice trade, well presented in a timely manner.
jerusalem kb 15:36 GMT January 5, 2011
SELL BREAK OF 1.3290
closed all with 140pips.
it is nothing but taking profit but more down will come incase you want to hold.
Macau JJ 15:36 GMT January 5, 2011
Trade Ideas
I know, but the data is released at 1100, why the EUR reacted quite late?
Syd 15:33 GMT January 5, 2011
Clock Ticks for New Euro Shocker
Reply
A fresh, grisly decline in the euro is seen as a near-certainty as pressure on the currency builds.
link
Chinese Official Goes to Save Spain, Buys Ham
China will buy $13.5 million of meat products, $9 million of olive oil, $6 million of wine and $260,000 of ham from Spain. According to Chinese media,
LINK
BEIJING (MarketWatch) — The Chinese government may undertake “intensive” tightening in the first quarter in response to inflation pressures, a government economist wrote in a commentary piece in the Economic Information Daily on Wednesday.
GVI Forex Jay 15:31 GMT January 5, 2011
Trade Ideas
JJ There was no reason other than it went in the direction of the trend after the post-ISM rally fizzled.
Note S2 (1.3127) -- low was 1.3125
Kaunas DP 15:28 GMT January 5, 2011
EUR/USD
Reply
Kaunas DP 13:42 GMT January 5, 2011
EUR/USD long: Reply
Kaunas DP 11:33 GMT January 5, 2011
EUR/USD long: Reply
Stooped at BE (1.3140).
Placed order to long at 1.3194 with 1.3162 SL for 1/2 standard pos.
_ _ _ _
ANOTHER 1/2 POS LONGED 1.3172, AVERAGE 1.3183,
SL 1.3133; TP OPEN
_ _ _ _
Stopped out - daily result -34pips... will let it consolidate 1.31-1.315 and then decite what next... GL/GT
Macau JJ 15:26 GMT January 5, 2011
Trade Ideas
May I know why EUR slipped at 1.3162 so quickly?
Richland QC Mailman 15:17 GMT January 5, 2011
Trade Ideas
Good we liquidated at 1.3162. That was close.
GVI Forex john 15:11 GMT January 5, 2011
GVI Forex Trading Support
ECONOMIC DATA CHART
Entry: Target: Stop:
U.S. ISM Services PMI much stronger than expected. Note U.S. surging ahead of EZ... Employment sub-component was surprisingly soft.
GVI Forex john 15:00 GMT January 5, 2011
GVI Forex Trading Support
ALERT
Entry: Target: Stop:
-- ALERT --
December ISM Services PMI: 57.1
London SMS 14:59 GMT January 5, 2011
Squared up
Reply
Sell USDCHF
Entry: .9645 Target: Stop:
for +245pips; nealry equals my loss in gold!
---------------
London SMS 13:19 GMT December 30, 2010
..... small Long USD CHF @ 0.94.
GVI Forex Jay 14:57 GMT January 5, 2011
Tech Talk
As noted 1.3127 = S2 (vs, 1.3133 lo
As also noted, key supports are below 1.31
Next up is the ISM Services PMI - watch the employment component
We will be offering two affordable live newswire services - if you are interested in more info, send me an EMAIL
GVI Forex john 14:51 GMT January 5, 2011
GVI Forex Trading Support
EVENT @ 15:00 GMT
IMPACT = HIGH
U.S. Purchasing Managers Index – Service -
Most major economies have purchasing managers indices (PMI) released monthly. They are compiled by various organizations. Some focus on the manufacturing sector while others measure the service sector. They are a very current measure of the economic health of the manufacturing or services sector. The PMI indices are usually based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.
A PMI of greater than 50 represents expansion, compared to the previous month. A reading under 50 represents a contraction, while a reading at 50 indicates no change.
We find the PMI indices to be useful predictors of future economic activity.
lkwd jj 14:49 GMT January 5, 2011
gold
I would be a seller on a break of that level. use a chart and size it up.
HK Kevin 14:47 GMT January 5, 2011
commodities
Caribbean! Rafe... 17:21 GMT January 4, 2011
commodities: Reply
HK Kevin 17:09 GMT January 4, 2011
CHF trend is down but the trick to it is to add to shorts watch 9581 entry for target 9236.
again i am on the sidelines, just watching to see what the model points come out as.
Hi Rafe! USD/CHF above 0.9581 today, much faster than expected and a reversal in the weekly chart. What's your view?
tokyo rana 14:46 GMT January 5, 2011
1.2777ZEUS
Sell EURUSD
Entry: 1.3777 Target: 1.2777/1.7777Zeus Stop: 200pips
leaving orders when ever seen....happy day
tokyo rana 14:44 GMT January 5, 2011
1.2777ZEUS
i canceled all stops...selling usd$ with out stops but very position very small.......
singapore sara 14:43 GMT January 5, 2011
gold
so buy or sell gold?
tokyo rana 14:42 GMT January 5, 2011
1.2777ZEUS
Buy EURUSD
Entry: 1.3145 Target: open Stop: 50pips
long...........short usd$ against euro aud and jpy untill monday..............happy day
lkwd jj 14:36 GMT January 5, 2011
gold
Reply
watch the 1360 level. todays first day its trading below 50 ma in a while and looking weak.
lkwd jj 14:33 GMT January 5, 2011
silver
Reply
shorted silver @ 2940 in am. looking good so far.
Richland QC Mailman 14:32 GMT January 5, 2011
Trade Ideas
Bought 2 lots 1.3140.
lkwd jj 14:29 GMT January 5, 2011
1.2777ZEUS
happy and healthy friend !!!
Lahore FM 14:28 GMT January 5, 2011
Trade Ideas
Buy EURJPY
Entry: Target: Stop:
missed secondary long order eurjpy 108.50 by 2 pips but 109.04 long is okay too.
GVI Forex Jay 14:26 GMT January 5, 2011
Tech Talk
USD/JPY broke its tight daily trendline (82.46). Little on the upside between 83.-84 so focus will be on closes vs
83.03 = 20 day mva (red line)
83.19 = 100 day mva (green line)
High so far 83.23
USA ZEUS 14:24 GMT January 5, 2011
1.2777ZEUS
Thanks guys. Glad to see all the fun happy characters here.
See y'all later when the stupid happy ledge trade hits the undeniable ultra magnetic strange attractor fulcrum at 1.277ZEUS
Happy Trades!
Lahore FM 14:24 GMT January 5, 2011
1.2777ZEUS
happy new year year Zues dear!
Lahore FM 14:22 GMT January 5, 2011
Trade Ideas
Buy EURUSD
Entry: 1.3150 Target: Stop: 1.3090 non rigid tentative only
long now on eurusd.
an interesting day all in all.
Lahore FM 14:21 GMT January 5, 2011
Trade Ideas
Sell AUDCAD
Entry: Target: Stop:
01/04/2011 07:01:36 FM Lahore 33
Sell AUDCAD
Entry: 1.0088 Target: Stop: 1.0110 for 2/3rds
Lahore FM 22:24 GMT January 3, 2011
Trade Ideas: Reply
Sell AUDCAD
Entry: 1.0088 Target: 0,94 Stop: 1.0180
sold.
--
closed 1/3rd at 1.0023.sl lowered for rest 2/3rd.
--
closed 2nd 1/3rd now 0.9950 sl lowered for last 1/3rd portion to 1.0050.
Hong Kong Qindex 14:20 GMT January 5, 2011
Heading Towards 1.3084
Reply
Sell EURUSD
Entry: Target: Stop:
EUR/USD : The market is under pressure when it is trading below 1.3261. It is going to test the supporting strength of 1.3007 - 1.3140.
=============================================
Hong Kong Qindex 02:24 GMT January 1, 2011
EUR/USD and Its Crosses : Reply
Buy EURUSD
Entry: Target: Stop:
EUR/USD : The upside and downside target is 1.4078 and 1.2771 respectively. A resistant point is expected at 1.3751 and a supporting level is located at 1.3751. The odds are in favor of maintaining a long position when the market is trading above 1.3261.
Qindex.com
Lahore FM 14:19 GMT January 5, 2011
Trade Ideas
Buy USDJPY
Entry: 81.65 Target: Stop: 81.50 for 1/2
01/04/2011 07:03:29 FM Lahore 31
Buy USDJPY
Entry: 81.65 Target: Stop: 81.50 for half
Lahore FM 21:06 GMT January 3, 2011
Trade Ideas: Reply
Buy USDJPY
Entry: 81.65 Target: 84.50 Stop: 81.10
placed the orders.
--
closed half at 82.10 now.sl raised.
--
closed rest of it now at 83.21 for + 156.
to dr unken katt 14:16 GMT January 5, 2011
1.2777ZEUS
shouldnt u be somewhere out on the ledge with ur stupid happy trades?
what drux are you on? prozac?
tokyo rana 14:14 GMT January 5, 2011
1.2777ZEUS
welcome back my friend,happy trade 2011....
Blore RKG 14:13 GMT January 5, 2011
EUR/USD
Reply
Stopped again. Not my day!!! Trying to catch a falling knife i guess!!
Richland QC Mailman 14:13 GMT January 5, 2011
1.2777ZEUS
Welcome back Zeus!
Well, I guess belief in any person/trader here depends on which trading bias one has. There are occasions where majority are behind your take on the market. Of course, the opposite is true too. Whichever is greater in number, I do not have the stats.
But one thing is for sure, your contributions here are valued.
to dr unken katt 14:06 GMT January 5, 2011
eurusd
thats a loser possie from the begginin , gold s down studies are pointin down 3113 is my limit and the TL
USA ZEUS 14:00 GMT January 5, 2011
1.2777ZEUS
tokyo ginko 13:50 GMT January 5, 2011
Thank you ginko. Best success to you in this happy new year.
See you later at EUR/USD 1.277ZEUS. I'm sure few believe me as usual.
Cheers!
tokyo ginko 13:50 GMT January 5, 2011
1.2777ZEUS
welcome back ZEUS
wishing you good trading year 2011!
USA ZEUS 13:47 GMT January 5, 2011
1.2777ZEUS
Reply
Happy New Year folks!
Just a friendly reminder that 1.277ZEUS is coming.
Happy Day!
tallinn viies 13:46 GMT January 5, 2011
eurusd
Reply
buying euros here at 1,3163 stop at 1,3113.
Chicago tt 13:44 GMT January 5, 2011
EUR/USD long
Why look to buy eurusd now? usd should stay bid into US employment on Friday.
Kaunas DP 13:42 GMT January 5, 2011
EUR/USD long
Kaunas DP 11:33 GMT January 5, 2011
EUR/USD long: Reply
Stooped at BE (1.3140).
Placed order to long at 1.3194 with 1.3162 SL for 1/2 standard pos.
_ _ _ _
ANOTHER 1/2 POS LONGED 1.3172, AVERAGE 1.3183,
SL 1.3133; TP OPEN
tokyo rana 13:42 GMT January 5, 2011
jpy
Reply
Sell USDJPY
Entry: 83.05 Target: open Stop: later
sold....happy day,
GVI Forex john 13:23 GMT January 5, 2011
GVI Forex Trading Support
ECONOMIC DATA CHART
Entry: Target: Stop:
ADP data considerably stronger than expected...
Monthly jobs U.S.
Click on chart for more than 10-yr history
GVI Forex john 13:13 GMT January 5, 2011
GVI Forex Trading Support
EVENT @ 13:15 GMT
IMPACT = HIGH
U.S. ADP National Employment Report
The ADP National Private Employment Report is a measure of nonfarm private employment, based on aggregated and anonymous payroll data. The report attempts to provide additional timely and accurate estimates of short-term movements in the national labor markets ADP pays 1-in-6 private sector employees in the United States across a broad range of industries, firm sizes, and geographies.
The data (after revisions) tend to track the government data over time, although on any given month there can be significant discrepancies. The ADP report does not include government employees.
GVI Forex Blog 12:49 GMT January 5, 2011
Reply
What a difference a day makes! At this time yesterday the EUR/USD was running buy stops in a failed attempt to expose 1.35. Today the downside is being tested as the market extends yesterday’s weaker close in a typical start of the year whipsaw.
EUR/USD Tests Downside
to dr unken katt 12:44 GMT January 5, 2011
Gold
ya wohl
there such an enhtusiasm when it comes to indices for 2012
GVI Forex Jay 12:29 GMT January 5, 2011
Tech Talk
12:30 GMT (Global-View.com) January 5 - What a difference a day makes! At this time yesterday the EUR/USD was running buy stops in a failed attempt to expose 1.35. Today the downside is being tested as the market extends yesterday’s weaker close in a typical start of the year whipsaw. The pair has performed technically with the break of 1.3251 (Monday’s low) exposing the pivotal 1.32 level (intra-day low 1.3210). As the accompanying daily chart shows, a close below the 20 day mva (1.3221 = red line) would leave a void until key levels in the 1.30s. In any case, the 1.3200 level is pivotal and limits the downside while intact while the pair trades soft (i.e. negative bias) while below 1.3250, creating the current stalemate. Above 1.3250 would cool the risk.
On the downside:
- 1.3221 = 20 day mva (focus on the close vs. this level)
- 1.3200 = 61.8% of 1.3056-1.3433
- 1.3189 = S1 and 1.3127 = S2 => see FX Chart Points
- 1.3088 = 200 day mva and daily trendline
- 1.3085 = Dec 29 low
- 1.3073 = Dec 27 low
- 1.3056 = key Dec 23 low
Feel free to comment.
Hamburg cc 12:26 GMT January 5, 2011
Gold
I think the game with long Gold is over for the time.
GVI Forex Blog 12:13 GMT January 5, 2011
Reply
The dollar held firm on Wednesday, bolstered by further evidence that the U.S. economic recovery is becoming self-sustaining, though its gains against the euro were slowed by central bank demand for the single currency.
FOREX NEWS - Dollar boosted on data, sovereigns support euro
Richland QC Mailman 12:02 GMT January 5, 2011
Gold
Gold is like a mobile phone now whose battery is running out of power. Will not be surprised if it gets battered again before the week is over.
Blore RKG 11:59 GMT January 5, 2011
Trade Idea
Reply
Buy EURUSD
Entry: 1.3190 (avg) Target: 1.3325 Stop: 1.3155
The move from today's high (1.3325) has overlaps so counts as an diagonal (5-15m charts). A correction should find resistance in the area of the prev 4th - so 1.3325.
Orders start from 1.3210 and upto 1.3180, giving average of 1.3190.
London hmk 11:59 GMT January 5, 2011
Currency Performance
sorry try http://www.censored.com/en/pages/default.aspx
GVI Forex john 11:44 GMT January 5, 2011
GVI Forex Trading Support
Earlier: December EZ Service PMI revised higher, but still down vs. November...
to dr unken katt 11:37 GMT January 5, 2011
.
Reply
support to watch for gold 1360
sofia kaprikorn 11:34 GMT January 5, 2011
Currency Performance
Reply
Hello and Happy New Year to all the GVI members and posters!
...
May I pls ask if someone could suggest a site where I can find quarterly, half year, one year and YTD performance for different currency pairs including exotics like USD/SGD ot USD/ Indonesian Rupiah?
Kaunas DP 11:33 GMT January 5, 2011
EUR/USD long
Stooped at BE (1.3140).
Placed order to long at 1.3194 with 1.3162 SL for 1/2 standard pos.
Richland QC Mailman 11:25 GMT January 5, 2011
Gold
Hi Revdax. We are setting our sights on 1300-1290.
HK REVDAX 11:17 GMT January 5, 2011
Gold
Mailman//How low do u think gold would go down to? tks
Richland QC Mailman 11:15 GMT January 5, 2011
Gold
Sold it 1379. Stop 1385
Richland QC Mailman 11:11 GMT January 5, 2011
Gold
Just having a casual survey folks. Who among us here believes the rally of gold is finally over and we are seeing the beginning of its correction over the first few months of 2011 - perhaps 1330 at the minimum?
GVI Forex john 11:08 GMT January 5, 2011
GVI Forex Trading Support
Global-View Chart Gallery updated. A wide selection of updated forex, interest rate and equity charts.
Global-View Market Tracker updated. Twice daily survey and technical studies of a broad range of related markets.
HK REVDAX 11:08 GMT January 5, 2011
EURUSD~>1.26~>1.18->1
Time to buy Euro might be tomorrow...together with Aus$
GVI Forex Blog 10:58 GMT January 5, 2011
Reply
11:00 GMT (Global-View.com) January 5- January often is a very difficult month for trading, often, it seems because many players, institutions, etc., square up their positions at the end of the calendar year and then reenter positions simultaneously. With the global markets into new positions more or less simultaneously and roughly the same approximate level, liquidity suffers.
Daily GVI Forex Forex View- Theme: Economic Recovery
van Gecko 10:57 GMT January 5, 2011
EURUSD~>1.26~>1.18->1
EURO+EURGBP+GBP M/T SOB form intact for long distance marchers.. S/T, EURO 1.3250~1.3200 is buy zone for a potential SOB bounce to 1.35 prior to 1.26..
Have'pip New Year..
Blore RKG 10:57 GMT January 5, 2011
EUR/USD
Cut it at 1.3240 and removed the stop.
Will look at the charts afresh.
GVI Forex Blog 10:55 GMT January 5, 2011
Reply
During this session, we will cover a simple set of rules that anyone can use for short and long term trading in the Forex market
Forexpros Daily Analysis - 05/01/2011
Haifa ac 10:50 GMT January 5, 2011
Denis Gartman Closes out his Aud positions
Syd 22:36 GMT January 4, 2011
Denis Gartman Closes out his Aud positions : Reply
Denis Gartman Closes out his Aud positions//
Syd, since you follow Gartman-- he used to think that the secret to the universe is embedded in the GSR (Gold Silver Ratio).
Do you happen to know if he is still an admirer of that ratio?
TIA
London SFH 09:48 GMT January 5, 2011
Gold
Reply
Bulls caught flat-footed, slumping 2.3% yesterday, hurt by USD strength and increased risk appetite....last significant correction occurred from Dec 2009 to Feb 2010, a pullback of 15%.... trades at $1384.10 or (+5.30). Decline has taken out most of last week's gains to probe the 1372.05 region again. A clean loss there exposes 1350.30/1361.35, while back above 1400.35 defers.
Mumbai NS 09:42 GMT January 5, 2011
INR
jkt-aye///tks a lot mate
RKG///Sir have used this facility and u have mail cheers!
jkt-aye 09:36 GMT January 5, 2011
INR
NS...try member directory
Kal...tvm, gtgl
Saar KaL 09:34 GMT January 5, 2011
KaL's Trend and Level
eurchf
i do not like to short until 1.29 ...but seems ok
1.26247 1.21590
Mumbai NS 09:30 GMT January 5, 2011
INR
Jay////Can u please oblige by sharing email id of Blore RKG please as permissioned below or do i need to send mail
Blore RKG 09:27 GMT January 5, 2011
INR
Most glad to share my mail id. Pls ask Jay.
I am sorry i have moved to the west and have misplaced most of my contacts.
Saar KaL 09:23 GMT January 5, 2011
confused
i agree
Longing eurusd
1.35021 1.29864
Mumbai NS 09:22 GMT January 5, 2011
INR
RKG///Sir totally agree with u on inr but i still feel it is a sell near those lvls of 46.20..........Sir can i ask Jay for ur email
Saar KaL 09:21 GMT January 5, 2011
KaL's Trend and Level
usdcad shorts 1.01529 0.98563
eurgbp Longs 0.86879 0.84439
gbpjpy short 130.12686 123.83356
audcad Longs 1.03233 1.00008
Cambridge Joe 09:21 GMT January 5, 2011
KaL's Trend and Level
EXCELLENT !!
Cheers bro.... I look forward !
Kaunas DP 09:19 GMT January 5, 2011
EUR/USD long
Kaunas DP 08:43 GMT January 5, 2011
EUR/USD long: Reply
1.3240 buy; SL 1.3190; TP open
_ _ _ _
1.3272 closed 1/2 for +32
for rest SL at BE
jkt-aye 09:19 GMT January 5, 2011
confused
Reply
eurusd ... unfinished business @ 1.3180 ?
Blore RKG 09:18 GMT January 5, 2011
INR
Reply
Thanks NS & NSJ for the kind sentiments
On INR, looks like a move towards 45.00/45.10 now before a sharp move ina 5th.. wouldnt be surprised if we break 46.20.
Dont trade rupee anymore though!!!! Missing you all!!
Saar KaL 09:16 GMT January 5, 2011
KaL's Trend and Level
Hey Joe
emailed someone about the petrol deal
will let you know as soon as i get a reply bro
tokyo rana 09:10 GMT January 5, 2011
jpy
Reply
Buy AUDUSD
Entry: 1.00 Target: open Stop: 0.9930
ithink eurusd will go to 1.35/1.38 gold 1450/75 audusd 1.02/1.05 than short short short.....but this is just guess...happy day
Cambridge Joe 09:05 GMT January 5, 2011
KaL's Trend and Level
KaL// Happy New year indeed !
glad to see you about.... thought you must still be winning those 'X' factor or battle of the bands !! LOL !
Thnks for the 'Heads-up' !
Saar KaL 09:05 GMT January 5, 2011
KaL's Trend and Level
gold a great Buy
1,437.76826 1,363.32017
===
silver another
32.04516 28.98730
====
dji a buy
11,902.32424 11,482.45686
===
Saar KaL 08:57 GMT January 5, 2011
KaL's Trend and Level
Happy New Year to all
and wishing this year will be a year for politicians to come their scenes and do things in a decent way.
USDCHF short
USDJPY Short
AUDUSD Long
tgt 300 pips each
Mumbai NSJ 08:55 GMT January 5, 2011
EUR/USD
hehe hthanks a lot sir ...welcome back to the blog
Mumbai NS 08:52 GMT January 5, 2011
EUR/USD
Tks Sir ......with loads of respect and regards CHEERS!
Blore RKG 08:48 GMT January 5, 2011
EUR/USD
Thanks very much NS. Wish you all the best.
Kaunas DP 08:43 GMT January 5, 2011
EUR/USD long
Reply
1.3240 buy; SL 1.3190; TP open
Mumbai NS 08:43 GMT January 5, 2011
EUR/USD
Sir gr8 to see u back here wish u a Happy New Year
Blore RKG 08:33 GMT January 5, 2011
EUR/USD
Reply
Entry: 1.3250 Target: 1.3350 Stop: 1.3225
Yday's top a 1.3443 looks more like an irregular B rather than a 5th - finding it tough to call it an ending diagonal. so going with a buy plan. Not too confident but have to start somewhere for the year!!!
Mumbai NSJ 08:28 GMT January 5, 2011
EUR looks like a buy here
Reply
Buying EUR here with a stop at 40...hoping a quick 60 pip kind trade
Pinbar on half hour here .....
Lahore FM 08:24 GMT January 5, 2011
Trade Ideas
Buy EURUSD
Entry: Target: Stop:
01/04/2011 17:16:02 FM Lahore 6
Buy EURUSD
Entry: 1.3294 Target: Stop: sl raised to 1.3270
00
stopped on eurusd long for minus 24 though still quite skeptical of any larger selloff.will reentrer a long on rise above 1.3340/50 maybe even sooner.
Lahore FM 08:18 GMT January 5, 2011
Trade Ideas
Buy EURGBP
Entry: 0.8495 Target: Stop: 0.8455
entered a long.
Richmond Hills 08:15 GMT January 5, 2011
GBP
Reply
Any news of GBP again? Suddenly spike up...because of EUR/GBP?
Syd 07:37 GMT January 5, 2011
Vinashin is in such deep trouble that it threatens the country's economy. Moody's, and Standard & Po
Reply
Massively indebted Vietnamese shipbuilder misses payment
International investors are growing concerned about Vietnam's state-owned shipbuilding conglomerate Vinashin, which is on the verge of bankruptcy. Its failure would have dire consequences for one of the most dynamic south-east Asian economies. Vinashin is the flagship for the development model advocated by the current leadership of the Vietnamese Communist party.Vinashin is in such deep trouble that it threatens the country's economy. Moody's, and Standard & Poor's, have already downgraded Vietnam's overall credit rating.
http://www.guardian.co.uk/world/2011/jan/04/vietnam-financial-crisis
Syd 07:28 GMT January 5, 2011
Flood Impact to Weigh on RBA Meeting .
Reply
SYDNEY, Australia—Widespread flooding in the Australian state of Queensland will likely weigh heavily on the thinking of the country's central bank when it decides next month whether to resume interest-rate increases that have helped push the country's currency to record highs, economists said Wednesday. LINK
Hong Kong 06:18 GMT January 5, 2011
EUR/USD Intra-day signal by AceTrader
Reply
EURUSD
Entry: Target: Stop:
INTRA-DAY EUR/USD OUTLOOK
Last Update At 05 Jan 2011 05:27 GMT
Rate : 1.3285
Despite extending the selloff fm y'day's high
of 1.3435 to 1.3264 in Asia, current recovery sug-
gests sideways trading wud be seen until European
opening n abv 1.3298/00 may bring another bounce
twds 1.3325/31 res area b4 down.
Stand aside for now n look to sell on subsequent
recovery as 1.3349/51 wud cap upside.
Range Forecast
1.3264 / 1.3295
Resistance/Support
R: 1.3325/1.3351/1.3396
S: 1.3250/1.3224/1.3200
http://www.acetraderfx.com
NGN CFANFX 05:40 GMT January 5, 2011
buy entry EURUSD
Reply
Buy EURUSD
Entry: 1.3265 Target: 1.3325 Stop: 1.3215
LET HOPE ALL IS WELL
Syd 04:45 GMT January 5, 2011
DJ Australian Central Bank Policy To Be Impacted By Queensland Flooding -Economists
Reply
Australian Central Bank To Hold Rates At 4.75% In February -Survey Paul Bloxham, chief economist with HSBC Holdings Plc in Sydney, said a rate increase by the Reserve Bank of Australia in February was now out of the question after heavy rain in Queensland hit vital export industries like mining and agriculture. "If it was ever a consideration that February was on the table, it is certainly not now," said Bloxham, who most recently headed up the overseas economies and financial conditions sections within the RBA.
BOT May Hike Rate 50 Bps Next Week - Citigroup
The Bank of Thailand may raise its policy rate up to 50 bps next week, says Citigroup, adding higher-than-expected core CPI in December "practically assures another quarter point rate adjustment by the Monetary Policy Committee (MPC) when it meets Jan 12."
Syd 04:07 GMT January 5, 2011
Property tax aims to squeeze real estate bubble
Reply
BEIJING - China may impose a property tax soon, to try and curb soaring property prices, China Business News reported on Tuesday. The newspaper cited an unidentified source who provided detailed information of the property tax.
"The tax will be from 0.8 percent to 20 percent of the market value of properties and be levied on people with multiple homes or oversize houses," the source said.
http://www.chinadaily.com.cn/cndy/2011-01/05/content_11794880.htm
House prices down 'nearly 40%'
House prices have plunged almost 40% since the peak of the boom, two property reports have revealed.
LINK
Ulster house prices ‘will keep falling into 2012’
LINK
MEL NK 03:34 GMT January 5, 2011
ONLINE SHOPPING
Reply
Online retail is the way of the future
In fact, with Australian consumers being able to go online and purchase the same product overseas for anything between 20 and 50 per cent less than they can locally, it's clear that consumers here are much better off buying overseas, even if GST were added to the imported product.
Australian consumers being able to go online and purchase the same product overseas for anything between 20 and 50 per cent less than they can locally, it's clear that consumers here are much better off buying overseas, even if GST were added to the imported product.
There are greater challenges facing Australian retailers, especially smaller retailers, such as escalating rents in shopping centres and the increasing cost of doing business including higher interest rates and electricity costs.
Australian retailers should focus on the considerable value that online retailing has to offer. It allows retailers the ability to move part or all of their business online, thereby freeing themselves from the ever-growing rents charged by shopping centre landlords.
MELBOURNE NK 03:31 GMT January 5, 2011
RENTING
Reply
Australia has some of the highest retail rents in the developed world, with a recent survey revealing that Australian CBD rents are second only to New York.
Syd 03:21 GMT January 5, 2011
Australian new home sales Report shows detached house sales fell by 1.1 per cent
Reply
HIA chief economist Harley Dale said new home building conditions weakened considerably over the second half of 2010 and the November rate rise added ‘‘further salt to the wound’’. ‘‘New home building activity looks set to decline across all states and territories in 2011,’’ Dr Dale said.
‘‘The risk of a sharp contraction in new home building in 2011 is exacerbated by the negative impact on households and small businesses of increases in borrowing costs and by the persistent lack of available credit for small and medium-sized new home projects.’’
AAP
Hong Kong Qindex 03:10 GMT January 5, 2011
Gold : Critical Support 1372.4
Reply
Gold
Entry: Target: Stop:
Gold : Critical Support 1372.4
The market is going to challenge the supporting strength of the weekly cycle normal limits which are positioning at 1286.2 - 1333.3 and 1372.4.
Qindex.com
=============================================
Hong Kong Qindex 15:22 GMT January 4, 2011
Gold : Critical Support 1380.6 : Reply
Gold
Entry: Target: Stop:
Hong Kong Qindex 07:23 GMT January 2, 2011
Gold : Critical Level 1400.6 : Reply
Gold
Entry: Target: Stop:
Gold : Critical Level 1400.6
Weekly Cycle Directional Indicator : 1380.6 - 1396.9 - 1400.6* - 1406.6 - 1414.4 - 1415.8 - 1423.9* - 1426.4 - 1427.1* - 1427.6 - 1427.9* - 1481.8
Significant Levels : (1400.6 - 1423.9 - 1427.1 - 1427.9)
Remarks : The market is under pressure when it is below 1400.6* and speculative selling pressure will increase when the market is trading below 1380.6.
Qindex.com
Syd 03:08 GMT January 5, 2011
Anxious times for Queensland agriculture
Reply
Anxious times for Queensland agriculture
Some of Queenslands largest meatworks may face big challenges re-opening this New Year.
http://www.abc.net.au/rural/news/content/201101
/s3106790.htm
Syd 02:41 GMT January 5, 2011
Deep Gold Correction Not Ruled Out - Triland
Reply
Spot gold is at $1,379/oz, down $2.30 after slumping 2.3% Tuesday, hurt by the USD's strength and increased risk appetite attracting money to equity markets. The last time gold saw a significant correction was the December 2009 to February 2010 peak-to-trough pullback of 15%. However, that does not rule out the possibility (of more downside), says Triland. "The surprise move would be for this downward move to continue another $100 or $200. Surprise moves often happen." Gold corrected 34% from March to October 2008 and 25% from May to June 2006, without derailing the bull market that is now stretching into its eleventh year
Hong Kong 01:59 GMT January 5, 2011
AUD/USD Intra-day signal by AceTrader
Reply
AUDUSD
Entry: Target: Stop:
INTRADAY TRADING SIGNAL BY ACETRADER.COM: AUD/USD
AUD/USD : 1.0036
Last Update At 05 Jan 2011 01:21 GMT
Despite aud's recovery after y'day's selloff to
1.0028, as price has retreated again after meeting
renewed selling at 1.0076, suggesting consolidation
with downside bias remains for fall fm 1.0257 to
extend weakness to 1.0010 but 0.9987 shud hold.
Sell again on pullback with stop as indicated,
break wud prolong choppy trading n risk 1.0106.
Range Forecast
1.0010 / 1.0050
Resistance/Support
R: 1.0076/1.0106/1.0123
S: 1.0010/0.9987/0.9950
http://www.acetraderfx.com
Syd 00:50 GMT January 5, 2011
AUD a Sell
Reply
Australia’s wheat and coal industries are being hurt “by the Old Testament-like floods,” and investors should sell the Australian dollar against the euro, Suffolk, Virginia-based economist Dennis Gartman said in his daily newsletter yesterday.
http://www.bloomberg.com/news/2011-01-04/rba-s-mcgauchie-says-queensland-flooding-may-seriously-impact-on-economy.html
Syd 00:46 GMT January 5, 2011
RBA’s McGauchie Says Flood Impact May Be Significant
Reply
The worst flooding in half a century in Australia’s northern state of Queensland may have a “significant impact” on the nation’s economy as exports are interrupted, said central bank board member Donald McGauchie.
http://www.businessweek.com/news/2011-01-04/rba-s-mcgauchie-says-flood-impact-may-be-significant.html
Hong Kong 00:44 GMT January 5, 2011
Daily FX Market Outlook by AceTrader-5-1-2011
Reply
Market Review - 04/01/2011 21:21 GMT
Dollar rises on upbeat US economic data
The dollar recovered from 3-week low against euro on Tuesday as robust U.S. economic data suggested the U.S. economy was gaining strength and bolstered the greenback's appeal. US factory orders unexpectedly rose by 0.7% in November versus the forecast of decrease of 0.1%. Durable goods excluding transportation also recorded their largest gain in eight months and came in at 3.6%.
The greenback rose sharply against the Japanese yen from Tokyo low of 81.61 to 82.28 in early European trading on heavy unwinding of recent long yen positions. Although the pair stage a pullback to around 81.68 in NY session, the pair rebounded and edged up in late NY trade.
In other news, FOMC meeting minutes showed Fed officials still expected gradual pickup in economic growth and slow job gains. While outlook was seen improving, it was not enough to warrant adjustments to $ 600 billion bond buying program. FOMC participants also anticipated inflation would remain below levels consistent with mandate for some time. Prices of some commodities and goods have risen but businesses mostly were unable to pass such increases on to customers. Fed staff revised up near term GDP increase but medium term outlook was little changed.
The single currency weakened to 1.3324 ahead of European opening on talk of euro-selling in related to German and Austrian bond redemptions/coupon, however, euro staged an intra-day rally to a 3-week high 1.3435 on buying by Asian central banks. The single currency later retreated sharply from there and tumbled to 1.3292 in NY session after the release of a series of upbeat U.S. economic indicators.
On economic front, German unemployment in December unexpectedly rose for the 1st time since June 09' (actual unemployment change was +3k vs forecast of -15k) as the coldest weather in more than 40 years led companies to lay off staff.
Despite sideways movement in Asia, the British pound jumped in London trading on early buying by Asian central bank near 1.5480/90, such action triggered intra-day short-covering and sent cable sharply higher and the release of stronger-than-expected U.K. Dec Manufacturing PMI (actual 58.3 vs forecast of 57.0), the highest index in 16 years, pushed the pound to as high as 1.5646 before easing.
Economic indicators to be released on Wednesday include:
Germany Services PMI, EU Service PMI and PPI and Industrial orders, U.K. Construction PMI, U.S. ADP employment and ISM Non-manufacturing.
Market would focus on Portugal's sales of 6-month Treasury bills on Wednesday.
http://www.acetraderfx.com
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