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Forex Forum Archive for 11/06/2013

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Brock Thor 22:53 GMT November 6, 2013
GBP/JPY

Took Profit on this one 56.0 pips.
Was up 74.0 at one point ...this stalled out a little I'll TP.
Closed.
good luck

Tallinn viies 22:21 GMT November 6, 2013
Eurusd
Reply   
Keeping my short euro. Only moving stop order lower.
Stop and reverse at 1,3553.
Target at 1,3475. Plan to close short before ECB.

GVI Forex john 22:20 GMT November 6, 2013
Calendar -- Daily Forex Data
Reply   


November 6, 2013 (global-view.com) UPCOMING DATA HIGHLIGHTS for Thursday, Novemeber 7. Updated: Trading Events Calendar

HIGH IMPACT RELEASES: AU- Employment, DE- Industrial Output, GB- BOE, EZ- ECB, US- GDP, Weekly Jobless

  • Far East: AU- Employment, JP- Lead Indicators
  • Europe: DE- Industrial Output, GB- BOE, EZ- ECB.
  • North America: US- GDP, Weekly Jobless, Natural Gas.


Lahore FM 21:53 GMT November 6, 2013
" Trade Ideas "

Buy Gold
Entry: Target: Stop:

Christmas and new year gold 1517 !!

GVI Forex john 20:37 GMT November 6, 2013
Chart Points - Free FX Database
Reply   

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.

GVI Forex john 20:19 GMT November 6, 2013
Chart Points -- Trading Points
Reply   
Pre-Closing Trading Points...
many more chart points
About Moving Averages
About Bollinger Bands


dc CB 20:16 GMT November 6, 2013
Student Loans
Reply   
JPMorgan Chase has sent a memorandum to colleges notifying them that the bank will stop making new student loans in October, according to Reuters.

The official reason is quite bland.
"We just don't see this as a market that we can significantly grow," Thasunda Duckett tells Reuters. Duckett is the chief executive for auto and student loans at Chase, which means she's basically delivering the news that a large part of her business is getting closed down.

The move is eerily reminiscent of the subprime shutdown that happened in 2007. Each time a bank shuttered its subprime unit, the news was presented in much the same way that JPMorgan is spinning the end of its student lending.

The student loan bubble is starting to burst

GVI Forex john 19:39 GMT November 6, 2013
Looking ahead to the ECB and BOE Thursday. U.S. jobless due
Reply   

Spot
20d avg
10-yr
Equities
 EURUSD  1.3515
 1.3638
 U.S. 2.64% +1bp
  North America: Higher
 EURJPY 133.40
 133.90
 Bund 1.75% +1bp
 DE: DAX: Stronger
 GBPUSD 1.6080
 1.6070
 GILT 2.72% +1bp
 GB: FTSE: Lower
 USDJPY 98.69   98.18
  JGB 0.62% +1bp  Asia Close Mixed

HIGH IMPACT ITEMS:AU- Employment, DE- Industrial Output, GB- BOE, EZ- ECB, US- GDP, Weekly Jobless

  • The EURUSD is trading below its 20-day moving average of 1.3675 and pivoting its  psychological tipping point (1.3500).  We feel odds for a December Fed taper remain small. The next probable tightening date is March 2014.

  • Eurozone Services PMIs were revised up modestly from their flash estimates but still below their September readings. See the  FOREX FORUM  for latest key data and charts as they are released.

  • U.K. September production were stronger than expected and has given the GBP a lift.  Pressure is mounting on the Bank of England to take a less accommodative policy posture. The data suggest the U.K. could be back in a recovery phase.
  • Thursday features a European Central Bank meeting.  We see no reason for the ECB to cut its  refi rate as its impact would only be mildly psychological. The preference of the ECB might be for "extraordinary actions" of some type. The ECB faces a real dilemma with the Southern tier of Europe virtually in a depression. Germany has started to slow as well..

  • The  Bank of England and European Central Bank will announce policy decisions on Thursday.  Another major event will be the release of October U.S. Employment data on Friday. Canadian October Employment data are due for release on that session as well.

  • For additional key items and more detail (dates, times, data estimates), be sure to reference our Economic Calendar . See the  FOREX FORUM  for latest key data and charts as they are released.

GVI Forex Blog 19:38 GMT November 6, 2013 Reply   
HIGH IMPACT ITEMS:AU- Employment, DE- Industrial Output, GB- BOE, EZ- ECB, US- GDP, Weekly Jobless The EURUSD is trading below its 20-day moving average of 1.3675 and pivoting its psychological tipping point (1.3500). We feel odds for a December Fed taper remain small. The next probable tightening date is March 2014.

Looking ahead to the ECB and BOE Thursday. U.S. jobless due

Sydney ACC 19:21 GMT November 6, 2013
Interest Rates - Unemployment

An entirely sensible quote.
In my opinion some members of the FOMC and district Fed governors have come round to the sense that monetary policy as practised by QE has its limitations. Unfortunately they are constrained by Congress and the Administration from pulling back on the reins.
US fiscal policy over the last three years has been a drag on the US economy. While the Fed has been pumping out money to replace what would have been created had the banking system been working properly fiscal policy as I see it, constrained by the Republicans in general but more specifically the Tea Party has been counter-productive.
There is improvement in the US budget deficit it just is the news has been lost in the rancour between the two parties.
US business has little confidence in the economy to employ significant numbers when every few months the ructions in Congress are exhibited on the front pages.
Sport belongs on the front page not politics.

PAR 18:05 GMT November 6, 2013
Interest Rates - Unemployment
Reply   
There is just no correlation between interest rates ( or QE ) and unemployment . Ok interest rates above 10% may not actually encourage lending to invest but whether rates are 1 or 3 percent is just irrelevant whatever Bernanke may say or think . On the contrary too low price of capital is eliminating labor and hurting the economy . Stock buy backs are good for Wall street but bad for main street.

GVI Forex john 16:20 GMT November 6, 2013
Fixed Income Snapshot

Late in European hours, prices in prime fixed income markets remain mixed ahead of the ECB and BOE decisions on Thursday. Markets today have been reacting to unattributed reports that the ECB will neither cut rates nor increase its LTRO program tomorrow. We have been dismissing the risk of an ECB rate cut for at least a week, but still feel some sort of unconventional easing is possible. Equities have been turning higher. Prices in periphery are mixed.


GVI Forex john 16:03 GMT November 6, 2013
Calendar -- Daily Forex Data
Reply   


November 6, 2013 (global-view.com) UPCOMING DATA HIGHLIGHTS for Thursday, Novemeber 7. Updated: Trading Events Calendar

HIGH IMPACT RELEASES: AU- Employment, DE- Industrial Output, GB- BOE, EZ- ECB, US- GDP, Weekly Jobless

  • Far East: AU- Employment, JP- Lead Indicators
  • Europe: DE- Industrial Output, GB- BOE, EZ- ECB.
  • North America: US- GDP, Weekly Jobless, Natural Gas.


GVI Forex john 15:31 GMT November 6, 2013
Weekly Crude
Reply   
US EIA


ALERT
Crude Oil: +1.600 vs. +2.000 exp vs. +4.800 prev.
Gasoline: -3.750 vs. 0.500 exp vs. -1.700 prev.
Distillates: -4.900 vs.-0.500 exp vs. -1.060 prev.
Cap/Util: 86.8% vs. 87.1%exp vs. 87.30% prev.

TTN: Live News Special Offer


jkt-aye 15:30 GMT November 6, 2013
confused
Reply   
jkt-aye 01:40 GMT November 4, 2013
Eur/Usd : Reply
is it going to 13540 then 13380 or straight away toward 13575/13640 ? have a nice pips.

PAR 15:15 GMT November 6, 2013
EURO
Reply   
FXstreet.com (San Francisco) - The Euro got a push from news in the last minutes as rumors ECB officials sources say a rate cut not likely tomorrow event amid inflation dip.

Against the US Dollar, the Euro has jumped around 45 pips in the latest few minutes from 1.3500 to break above the 1.3530 area and price at 1.3545. Currently the EUR/USD is moving at 1.3540, 0.50% positive on the day.

EUR/USD technical levels

As for technical levels, the EUR/USD could find immediate resistances at 1.3565 and 1.3590 (Nov 1 high) followed by 1.3635. On the other hand, supports are seen at 1.3466 (daily low) and 1.3442 (Nov 4 low).

GVI Forex john 15:05 GMT November 6, 2013
Canada Ivey PMI



Canadian PMIs (Ivey and RBC-Markit). Hard to take this number (Ivey PMI) seriously.



PAR 15:01 GMT November 6, 2013
ECB Sources
Reply   
No rate cut tomorrow no new LTRO .

GVI Forex john 15:01 GMT November 6, 2013
Canada Ivey PMI
Reply   




ALERT
OCTOBER 2013 Canada Ivey PMI (seasonally-adjusted)
62.8 vs. n/a exp. vs. 51.5 prev.


TTN: Live News Special Offer


Direct links to primary data sources

GVI Forex john 15:00 GMT November 6, 2013
U.S. Leading Indicators
Reply   



ALERT
OCTOBER 2013 U.S. Leading Indicators
+0.70% vs. +0.60% exp. vs. +0.70% prev.


TTN: Live News Special Offer


Direct links to primary data sources

PAR 14:55 GMT November 6, 2013
FITCH
Reply   
FXstreet.com (Barcelona) - In its latest Sustainable Home Price and Economic Risk Factor Report Fitch Ratings agency warned that prices of houses in several big US cities are getting dangerously close to bubble levels.

The majority of US cities where housing prices registered the steepest increases are located in the San Francisco Bay Area. According to Fitch's sustainable housing price model they are more than 20% overvalued.

“San Francisco and San Jose lead the pack, so the Fed's easy money policies may not be entirely to blame,” Jamie Coleman speculates on FXBeat. “Silicon Valley funny money is the more likely cause of the bubble.”

PAR 14:01 GMT November 6, 2013
Bernanke - Reverse Robin Hood
Reply   
Take from poor to give to rich.

Fed Stimulus Boosts Fortunes of Wall Street, Leaves Main Street Behind: Baker


He refers to the Fed's ongoing stimulus efforts as "a massive, $3.7 trillion redistribution of wealth" that has only benefited banks and financial firms, as well as the wealthiest 5% of the country that holds real assets such as stocks and real estate.


PIMCO's Bill Gross, for example, is also making headlines by challenging the fairness of the country's tax system which he says unfairly favors billionaires like himself. In a recent note to clients Gross wrote that the era of taxing 'capital' at lower rates than 'labor' should end. "If you’re in the privileged 1%, you should be paddling right alongside and willing to support higher taxes on carried interest, and certainly capital gains readjusted to existing marginal income tax rates," the California based king of the bond fund wrote.

For Baker, there is no stronger evidence than the correlation seen between the rise of the Fed's QE spending and the S&P 500's four year jaunt to record highs.

"(QE) is not encouraging banks to do more loans, and it's not encouraging people to hire more folks," Baker says. "So it's not helping Main Street," where he points to flat wages and stagnant wealth as the primary indicators of the widening gap between the super-rich and the rest of us.



Livingston nh 13:50 GMT November 6, 2013
eurusd

From these low interest rate levels a cut or no cut by ECB would have little effect on EUR/USD - a hike (i.e., policy change) by any of the majors' CB would, of course, provide a short term adjustment BUT none of them are so inclined given their current membership structure

SO all we have on the Horizon is the QE policy - which CB will adjust and by how much (+ or - ) ?? -- as always that is a political decision

venice kilian 13:37 GMT November 6, 2013
eurusd
Reply   
Buy EURUSD
Entry: 1.3490 Target: 1.42 Stop: 1.3440

ECB 'll not cut rate and euro 'll jump at least to 1.40 b4 november

London Misha 13:18 GMT November 6, 2013
Observations
Reply   
EURUSD - Continues bouncing up off Lower Tine of SP but now forms possible Bearish Engulfing Pattern on Daily Chart.
USDJPY - Still now follow through to Key Reversal Up on Daily Chart!
GBPUSD - 2nd White Soldier as market continues bounce up off 1.5900 Neckline or Double/Triple Top & possibly forming a Rectangle on Daily Chart.
USDCHF - Bearish Harami followed by almost a Bullish Engulfing Pattern on Daily Chart as market stays above Neckline!
EURGBP - Long Black Marubozo follows Doji on Daily Chart & looks more like a Bearish Flag (0.8350 area target).
AUDUSD - Indecisive Spinning Top on Daily Chart!
USDINR - Bearish Harami on Daily Chart but today market bounces up off broken Uptrend to new recent high!
USDZAR - Market breaches topside resistance at 10.2125 with a Bullish Engulfing Pattern on the Daily Chart.
USDBRL - Long White Marubozo follows an Above Stomach close (possible Bullish Hammer?) on Daily Chart.


GVI Forex john 12:34 GMT November 6, 2013
Challenger Layoff Survey
Reply   




ALERT
OCTOBER 2013 Challenger Planned Layoffs
45.7k vs. n/a exp. vs. 40.3k prev.


TTN: Live News Special Offer

Mtl JP 12:08 GMT November 6, 2013
US Economy
Reply   
when self-accolade stinks:

U.S. Economy Slack Justifies Stimulus, Top Fed Staff Papers Show - bbrg

The Federal Reserve’s policy of seeking to drive down the U.S. unemployment rate is effective, and the level of slack in the economy justifies an accommodative stance, according to two separate papers by top Fed officials. .../..

and no-one pinning blame on the meddling policymakers . duh!

"With the central bank debating the timing of winding down its $85 billion a month in bond purchases, the research provides a window into the views of the senior Fed staff members who write the briefing materials for Federal Open Market Committee meetings and draft the Fed’s policy options. The papers were posted on the International Monetary Fund’s website ahead of a two-day conference starting tomorrow in Washington. " .../..

GVI Forex john 11:58 GMT November 6, 2013
European Economy

ECB single mandate is inflation and Germany is only one of 17 nations in the EZ.

from last week...
EZ flash HICP for October was only 0.7% yy


EZ flash HICP (CPI) declines further. Now well below ECB target of "just below 2.0%". Raising DEFLATION concerns at ECB?



Mtl JP 11:54 GMT November 6, 2013
German Factory Orders

so what is the lesson for Japan:
dlryen UP about 12% ytd - thanks to Abenomics Toyota's profits now bigger than those of GM (for example), but other manufacturers not benefiting - print more, much moRE ?

PAR 11:17 GMT November 6, 2013
European Economy
Reply   
Uk and European countries economic performance much stronger then economists expected . As usual europen commission economic previsions proved wrong .

PAR 11:12 GMT November 6, 2013
German Factory Orders

This is the end of speculation of an ECB rate cut and more ECB QE .Buy Euro . Long 1.3520. Target 1.3720. Stop 1.3435.

GVI Forex john 11:07 GMT November 6, 2013
German Factory Orders

Strong German mfg orders fueled by foreign demand.

GVI Forex john 11:06 GMT November 6, 2013
German Factory Orders
Reply   



ALERT
SEPTEMBER 2013 German Factory Orders
mm +3.30% vs. +0.50% exp. vs. -0.30% prev.
yy +7.90% vs. +5.60% exp. vs. +3.10% prev.


TTN: Live News Special Offer


Direct links to primary data sources

GVI Forex 11:02 GMT November 6, 2013
Global Markets News
Reply   
FX markets were quiet ahead ahead of Thursday's ECB policy meeting and Friday's release of US Oct payroll data. In the session Major PMI Services (France, Germany and Euro Zone) saw slight upward revisions in final readings help to cement the view that Europe was on its way to recovery.

TradeTheNews.com EU Market Update: European data provides mild support for risk appetite

Brock Thor 11:00 GMT November 6, 2013
GBP/JPY

Stop Loss moved to 158.12

GVI Forex john 10:03 GMT November 6, 2013
Eurozone Retail Sales

Eurozone Retail Sales weaker than expected. Not much reaction in EURUSD.

GVI Forex john 10:02 GMT November 6, 2013
Eurozone Retail Sales
Reply   




ALERT
SEPTEMBER 2013 Eurozone Real Retail Sales
mm: -0.60 vs. -0.40% exp. vs. +0.70% (r +0.50$ %) prev.
yy: +0.30% vs. +0.60% exp. vs. -0.30% prev. (r -0.20%)


TTN: Live News Special Offer


Direct links to primary data sources

Singapore SGFXTrader 09:47 GMT November 6, 2013
eurusd

I suspect that you will be stopped out fairly soon.
Wrong trade dude.

Tallinn viies 09:41 GMT 11/06/2013
reversed my long euro position at 1,3519. stop at 1,3569
target 1,3425

GVI Forex john 09:44 GMT November 6, 2013
Eurozone Service PMI's up from flash. Positive UK production
Reply   

Spot
20d avg
10-yr
Equities
 EURUSD  1.3505
 1.3637
 U.S. 2.65% -1bp
  North America: Mixed
 EURJPY 133.00
 133.80
 Bund 1.73% -1bp
 DE: DAX: Stronger
 GBPUSD 1.6105
 1.6063
 GILT 2.71% 0bp
 GB: FTSE: Stronger
 USDJPY 98.49   98.11
  JGB 0.61% 0bp  Asia Close Mixed

HIGH IMPACT ITEMS:  US- Weekly Mortgages, CA- Ivey PMI

  • The EURUSD is trading below its 20-day moving average of 1.3675. the psychological tipping point remains 1.3500  We feel odds for a December Fed taper remain small. The next probable tightening date is March 2014.

  • Eurozone Services PMIs were revised up modestly from their flash estimates but still below their September readings. See the  FOREX FORUM  for latest key data and charts as they are released.

  •  U.K. September production were stronger than expected and has given the GBP a lift.  Pressure is mounting on the Bank of England to take a less accommodative policy posture. The data suggest the U.K. could be back in a recovery phase.
  • Thursday features a European Central Bank meeting. It is logical to assume that the EURUSD will be under pressure ahead of the meeting. We see no reason to cut the refi rate as its impact would only be mildly psychological. The preference of the ECB might be for "extraordinary actions" of some type. The ECB faces a real dilemma with the Southern tier of Europe virtually in a depression. Germany has started to slow as well..

  • The  Bank of England and European Central Bank will announce policy decisions on Thursday.  Another major event will be the release of October U.S. Employment data on Friday. Canadian October Employment data are due for release on that session as well.

  • For additional key items and more detail (dates, times, data estimates), be sure to reference our Economic Calendar . See the  FOREX FORUM  for latest key data and charts as they are released.

GVI Forex Blog 09:43 GMT November 6, 2013 Reply   
HIGH IMPACT ITEMS: US- Weekly Mortgages, CA- Ivey PMI The EURUSD is trading below its 20-day moving average of 1.3675. the psychological tipping point remains 1.3500 We feel odds for a December Fed taper remain small. The next probable tightening date is March 2014.

Eurozone Service PMI's up from flash. Positive UK production

Tallinn viies 09:41 GMT November 6, 2013
eurusd
Reply   
reversed my long euro position at 1,3519. stop at 1,3569
target 1,3425

GVI Forex john 09:35 GMT November 6, 2013
United Kingdom Output

UK production was stronger than expected and has given the GBP a lift. Pressure is mounting on the Bank of England to take a less accomodative policy posture.

GVI Forex john 09:31 GMT November 6, 2013
United Kingdom Output
Reply   



-- ALERT --

UK Industrial/Manufacturing Output
SEPTEMBER 2013
Ind mm: +0.9% v +0.6% exp. v -1.1% prev.
Ind yy: +2.2% v +1.8% exp. v -1.5% prev.

Mfg mm: +1.2% v +1.1% exp. v +1.7% prev.
Mfg yy: +0.8% v +0.8% exp. v -0.1% prev.


TTN: Live News Special Offer


Direct links to primary data sources

Tallinn viies 09:23 GMT November 6, 2013
eurusd
Reply   
from Reuters
BUZZ-Euro is not a reason for the ECB to cut
06-Nov-2013 11:16



Much has been made of the stronger euro and its impact on ECB thinking. But the
euro basket is near its 2006-2013 range (circa 96-124, now 109). EUR/USD at
1.3500 is almost dead centre of the range since 2009. Euro vols are not low by
accident. What's more, speculation about rate cuts has seen the euro drop 400
points from its high. The job has been done without ECB action. If the euro is a
factor for the ECB, its current level won't justify a cut. There is good cause
to fear a squeeze of those who are betting the ECB will give them an easy profit
on euro shorts.

GVI Forex john 09:14 GMT November 6, 2013
Fixed Income Snapshot
Reply   
Early in European trading hours, prices in prime fixed income markets are mostly higher on the day. Equities are trading mixed. Peripheral bond prices are stronger.


GVI Forex john 09:10 GMT November 6, 2013
Eurozone Services PMIs



EZ, German and French final Services PMI. France and Germany revised higher..

GVI Forex john 09:07 GMT November 6, 2013
Eurozone Services PMIs



EZ, final Services PMI revised slightly higher, but still down from September.

GVI Forex john 08:58 GMT November 6, 2013
Eurozone Services PMIs
Reply   




ALERT <
OCTOBER 2013 EZ Final Service PMI
Svc: 51.6 vs. 50.9 (flash) exp. vs. 50.9 prev.
France: 50.9 vs. 50.2 (flash) exp. vs. 50.2
Germany 52.9 vs. 52.3 (flash) exp. vs. 52.3



TTN: Live News Special Offer

Direct links to primary data sources

Syd 07:38 GMT November 6, 2013
cnbc
Reply   
Alstom CEO tells CNBC after announcing 1,300 job cuts: we need to work on costs, there is no fairy tale

GVI Forex Blog 05:45 GMT November 6, 2013 Reply   
Tesla shares crash by over 10% in extended session as Q3 shipments of 5.5K and Q4 forecast for under 6K disappoint lofty valuation. >- Shares of Toyota bouncing back in afternoon session ahead of the

TradeTheNews.com Asian Market Update: Australia trade deficit lower than expected, but China exports struggle; Toyota expected to boost guidance - Source TradeTheNews.com

HK [email protected] 05:16 GMT November 6, 2013
Always Backup: A type of malware called CryptoLocker is locking people’s data and threatening to des
Reply   


Malicious “Ransomware” Can Hold Computer Files Hostage.

See LINK

LINK

GVI Forex Blog 04:50 GMT November 6, 2013 Reply   
Gold (1311.30, +3.20) is steady near the 100-Day and the 21-Day MA

Kshitij.com-Morning Briefing 6 Nov 2013

Hong Kong AceTrader 04:28 GMT November 6, 2013
AceTrader Nov 6 : Daily Outlook on Asian Exotic USD/IDR
Reply   
USD/IDR DAILY OUTLOOK - 11410
06 Nov 2013 01:21GMT

Usd's rebound fm Oct's low at 10935 suggests cor
rection fm Sep's 11660 high has formed a temporary
low there n retrace. to 11455, then 11520 is seen.

Trade fm long side with stop as indicated n only
below 11305 aborts n risks weakness to 11270.

STRATEGY : Long at 11330

POSITION : Long at 11330

OBJECTIVE : 11430

STOP-LOSS : 11360

RES : 11455/11520/11660

SUP : 11305/11270/11000

bali sja 04:12 GMT November 6, 2013
anti usd trade

Sell USDCAD
Entry: Target: Stop:

even with oil tanking like this we still have usdcad hovering in 1.04 region, looks a sell to me if it doesnt go beyond recent high soon

bali sja 03:43 GMT November 6, 2013
anti usd trade
Reply   
gbp and aud remain my favourite anti-usd pair to trade IMHO!!

dc CB 03:17 GMT November 6, 2013
Fight at a foodstamp office.

Two years after $1.6 billion vanished from their accounts, MF Global’s customers are now all but assured to collect every last penny.

A federal bankruptcy court judge approved a plan on Tuesday that would close the remaining shortfall for some 20,000 customers, many whose lives were derailed when their money disappeared in the firm’s final days.

As MF Global fought for survival in 2011, it improperly transferred customer money to its banks and clearinghouses, violating a cardinal rule of the financial industry.

The authorities came to believe that an employee in MF Global’s Chicago office transferred the customer money, perhaps inadvertently, to banks like JPMorgan Chase.

MF Global Customers Will Recover All They Lost

Hong Kong AceTrader 01:41 GMT November 6, 2013
AceTrader Nov 6 : Euro falls ahead of ECB meeting
Reply   
Market Review - 05/11/2013 22:13GMT

Euro falls ahead of ECB meeting

The single currency met selling interest at 1.3522 in Asian trading and then dropped to 1.3478 in European morning before rebounding to 1.3511 partly due to EU commission's forecast on euro zone GDP growth. However, euro weakened again on growing speculation that the European Central Bank may signal easier monetary policy or even cut interest rates at its policy meeting on Thursday.

Euro fell to an intra-day low of 1.3449 in New York morning on strong U.S. October's ISM non-manufacturing index, which came in at 55.4, stronger than the economists' forecast of 54.0.

EU commission forecasted euro zone GDP growth at -0.4% for 2013, +1.1% for 2014, +1.7% in 2015 and EU GDP growth at 0.0% for 2013, +1.4% for 2014, +1.9% in 2015.

Versus Japanese yen, the greenback met selling interest at 98.68 and fell to 98.24 in Asian trading on Tuesday. Dollar fell to an intra-day low at 98.16 in European morning and then rebounded to 98.64 in New York session.

The British pound traded narrowly in Asian trading and retreated to 1.5949 in European morning, however, buying interest quickly emerged in Europe after the release of stronger-than-expected U.K. service PMI, which came in at 62.5 for October, better the forecast of 59.8. It was also the sharpest rise in activity since May 1997. Later, cable jumped to a session high at 1.6063 in New York morning b4 retreating.

In other news, Federal Reserve Bank of Boston President Eric Rosengren says 'expects Fed funds rate quite low for quite some time; expects better economic data, U.S. GDP growth closer to 3% early next year.'

ECB's President Mario Draghi says 'we are gradually recovering from the financial crisis; overall economic situation has slightly improved.'

Data to be released on Wednesday:

New Zealand unemployment rate, employment change, Australia trade balance, U.K. BRC shop price index, industrial production, manufacturing production, Italy service PMI, France service PMI, Germany service PMI, factory orders, EU service PMI, retail sales, Canada building permits, Ivey PMI and U.S. leading indicators.

Lahore FM 01:30 GMT November 6, 2013
" Trade Ideas "

Sell OTHER
Entry: 94.14 Target: 85 Stop: 94.95

sold cadjpy.

Lahore FM 01:28 GMT November 6, 2013
" Trade Ideas "

on 4 hour charts nzdusd still a sell despite the robust employment numbers...

Lahore FM 01:27 GMT November 6, 2013
" Trade Ideas "

USDJPY
Entry: Target: Stop:

below 98.05 opens way to 90 imho!

Lahore FM 01:25 GMT November 6, 2013
" Trade Ideas "

Sell EURUSD
Entry: 1.3803 Target: Stop:

1.3380 later today perhaps imho !

Brock Thor 00:24 GMT November 6, 2013
GBP/JPY
Reply   
GBPJPY
Entry: Target: 162.85 Stop: 155.95

Bought

 




Actionable trading levels delivered LIVE to YOUR charts

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 27 May 2019
AAGB/US- Holiday
Tue 28 May 2019
A 14:00 US- Consumer Confidence
C 13:00 US- Case-Shiller
Wed 29 May 2019
A 08:55 DE- Employment
AA 18:00 US- BOC Decision
A 18:30 US- EIA Crude
Thu 30 Mar 2019
AAEZ/CH- Holiday
A 12:30 US- Weekly Jobless
Fri 31 Mar 2019
AA 10:00 EZ- Flash HICP
A 12:30 US- Personal Income, Spending, Deflator
AA 14:00 US- Final Univ of Michigan


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We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

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