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Forex Forum Archive for 03/10/2014

Pick a date from the header above to view forum postings for that day.
Click here to join the Live Forex Forum.


Syd sf 22:32 GMT March 10, 2014
Asia
Reply   
still looking for one final audyen dip at 92.45-70 area to buy into .... it looks 92.50/93.50 up until the Jobs Numbers - then all bets are off.

eur bid gbp offered aud offered nzd bid $yen neutral ... gold higher than the rebound high yesterday and Oil down over 1 %

does not appear all the ducks are in a row at moment for continuation.

probably the audyen 92.50/93.50 most comfortable playing that till Thursday.

GVI Forex john 19:50 GMT March 10, 2014
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 19:24 GMT March 10, 2014
Chart Points -- Trading Points
Reply   
Pre-Closing Trading Points...
many more chart points
About Moving Averages
About Bollinger Bands


GVI Forex Blog 19:07 GMT March 10, 2014
Bank of Japan Decision Unlikely to Move Markets. Slow Week for Data
Reply   
HIGH IMPACT NEWS ITEMS: JP- Bank of Japan

The data news calendar is relatively light and back-end loaded.this week. That leaves the fate of the markets in the hands of algo systems who will undoubtedly be trading their correlation trades. For what its worth, everything is correlated to everything. We feel that the principal driving force for the markets is equities. Risk-on when equities are rising and risk-off when they are falling.

Bank of Japan Decision Unlikely to Move Markets. Slow Week for Data

GVI Forex Blog 18:53 GMT March 10, 2014
AUD and NZD
Reply   
Markets adopted a slightly pessimistic posture following the weekend's weak China data and continuing tensions in Ukraine. Otherwise there was no fresh news of significance, limiting volatility overnight.

Australia & NZ Morning Thoughts

GVI Forex 18:34 GMT March 10, 2014
Forex News - Green Light from Draghi?
Reply   
The European Central Bank's decision to leave monetary policy unchanged, and its seemingly relaxed attitude to the impact of a strong euro on deflation, may have put the single currency on course to reach its highest levels in nearly three years.

If the euro zone economy shows more signs of recovery in coming months and U.S. data remains patchy, the euro could rise towards $1.45 - a level seen in mid-2011 - before the ECB expresses discomfort with the exchange rate....

Euro heading for 3-year highs as ECB sees muted inflation impact

Livingston nh 17:19 GMT March 10, 2014
ECB

Jay - ahaa , I should know by now to read priors

Paris ib 16:42 GMT March 10, 2014
ECB

The IMF is part of the same fun group.

GVI Forex Jay Meisler 16:08 GMT March 10, 2014
ECB

Here is another one (no reaction)

NEWS: IMF BLANCHARD: EUROZONE DEFLATION RISK IS REAL - PRESS

MNI

kl shawn 16:06 GMT March 10, 2014
buy euro and gbp this week, sell usd
Reply   
golden chance to load euro and gbp long this week on any pullbacks if one believes usd is trending down

jkt abel 16:01 GMT March 10, 2014
ECB

yes Paris ib, they keep singing the boring deflationary song and missing the boat, same with some here and still wonder why reaction is muted?

Paris ib 15:52 GMT March 10, 2014
ECB

The usual little group of propagandists: the Anglo-Saxon press, Ambrose, some weirdo economic think tank no-one has ever heard of.... all pressing for the case of deflation and Japan and let's print some money too, like Japan and the U.S. - good grief these fools never give up. It's not happening. Get used to it.

GVI Forex Jay Meisler 15:50 GMT March 10, 2014
ECB

nh, I posted this earlier and EURUSD came off a few ticks but reaction has been muted

EUR
GVI Forex Jay Meisler 14:30 GMT 03/10/2014 - My Profile
(EU) Leading German Institute calls on ECB to launch full scale QE, suggesting a shift in thinking by German ;policy elites - Telegraph's Ambrose Evans Pritchard

Source: TradetheNews.com

Livingston nh 15:36 GMT March 10, 2014
ECB
Reply   
Some deflation worry but from a German source --
"Marcel Fratzscher, head of the German Institute for Economic Research (DIW) in Berlin, demanded 60bn (50bn) of bond purchases each month to halt the contraction of credit and avert a Japanese-style trap." (AEP in Telegraph)
LINK

GVI Forex john 15:30 GMT March 10, 2014
Fixed Income Snapshot

Late in European trade, a clearer picture of the day has been emerging. Prices in prime fixed income markets are up on n to "risk-off" trading as equity prices have fallen following weaker than expected Chinese trade over the weekend. European equity prices are closing weaker. U.S. shares are down.

Following the U.S. clock changes over the weekend, the time gap between the U.S. has shrunk by an hour for the next three weeks when Europe and U.K. clocks are changed. Peripheral European bond prices are mostly better.


fr 15:18 GMT March 10, 2014
GBPUSD 16611 confirmed

Thanks Sir for your kind details

Amman wfakhoury 15:13 GMT March 10, 2014
GBPUSD 16611 confirmed

fr 14:40 GMT 03/10/2014
Sir,
it will reach to 16611 first or it will rise above 16656 then will reach to 16611???
--------------------------
It should reach 16611..but in case it rises above 16656 ...you
have to look it s reach to 16656..and it will not reach 16611
unless 1 hr bar closed below 16656.
hope that clear.

GVI Forex Blog 15:02 GMT March 10, 2014 Reply   
March 10, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Tuesday, March 11. Updated: Trading Events Calendar HIGH IMPACT NEWS RELEASES: JP- Bank of Japan

GVI Forex Data Outlook for March 11, 2014

GVI Forex john 15:00 GMT March 10, 2014
Calendar -- Daily Forex Data
Reply   


March 10, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Tuesday, March 11. Updated: Trading Events Calendar

HIGH IMPACT NEWS RELEASES: JP- Bank of Japan

  • Far East: JP- Bank of Japan.
  • Europe: DE- Trade, GB- Industrial & Manufacturing Output.
  • North America: US- Wholesale Inventories, 3-yr auction, API Energy.


Johannesburg HvW 14:57 GMT March 10, 2014
GBPJPY

Most excellent, Mr.Wfakhoury.

Indebted to you. Thanks.

GVI Forex Blog 14:43 GMT March 10, 2014
Global Markets News
Reply   
EUR/USD has traded in a tight range, well contained in the upper half of the 1.38 handle. Sterling dropped from 1.6735 as low as 1.6630 as market participants jumped the gun in trying to get in on FX flows in the belief Vodafone would agree to a preliminary 7.0 billion deal to buy Spanish cable company ONO. Reports out this morning suggest the deal will still take a few days to complete.

TradeTheNews.com US Market Update: Markets Weak on China Trade and CPI Data

nw kw 14:41 GMT March 10, 2014
-

Eurgbp would probably be looking at a pretty big intraday

xgbp strength xeur week so give a day

fr 14:40 GMT March 10, 2014
GBPUSD 16611 confirmed

Sir,
it will reach to 16611 first or it will rise above 16656 then will reach to 16611???

nw kw 14:38 GMT March 10, 2014
-

london red gbp what are thy exporting to poss china for thy are in London metals big time

london red 14:32 GMT March 10, 2014
-
Reply   
Euro, below 13866 brings 13852 into taget below there 13835/30 followed by 13810/00 but not sure can see that last level today, but if support broken then you have to consider it. Eurgbp would probably be looking at a pretty big intraday reversal by then.
Looking to buy 13830/35 or lower. Cable around 16605.

nw kw 14:31 GMT March 10, 2014
gbp

gbp what exports/gbp gov. did same that cad gov. did that govs. back housing lending not dumb a-ss banks

Amman wfakhoury 14:29 GMT March 10, 2014
GBPJPY

Amman wfakhoury 07:35 GMT 03/10/2014
Johannesburg HvW 07:21 GMT 03/10/2014
-------------------------
GBPJPY starts its downtrend to 171.70 and the to 169,00 area
unless it breaks up 173.00 again.
-------------------------
171.70 reached

GVI Forex Jay Meisler 14:23 GMT March 10, 2014
gbp

As posted on GVIForex

GBP
GVI Forex Jay Meisler 14:16 GMT 03/10/2014
3/10/2014 10:15:28 AM (UK) BoE's Bean: Against BoE getting too hung up on the precise date it expects to start raising rates, unlikely to see rates above 2-3% for some time
- More GBP strength could damage rebalancing process, would hold back exports.
- There are clear signs the UK recovery is underway, to return to pre-crisis productivity growth eventually.
- Business investment to take over from household demand as key driver of recovery.
- Keeping a close watch on housing, low supply and high rate of lending creates risks.

- Follow up: - BOE to sell GILTs only when recovery is assured, BOE may not be able to sell all GILTS it has purchased
- Current natural unemployment rate expected at 6-6.5%
- Past experience argues against benefit of intervening on Sterling, if Sterling appreciates in value, policy would remain lower for a longer period
- May take approx 3 years before the EMU recovery can become stronger

Source TradeTheNews.com

nw kw 13:55 GMT March 10, 2014
cat
Reply   
Multi-unit starts accounted for all of the gains in Canadian housing starts in February, surging 13.3% and breaking a three-month losing streak

nw kw 13:47 GMT March 10, 2014
gbp

nzd to eur,gbp,usd you see how is't going

GVI Forex Jay Meisler 13:35 GMT March 10, 2014
Monday's Trading Outlook
Reply   
As posted earlier on GVI Forex. Contact me if you would like access to my daily trading outlook video updates on a regular basis.



Daily Forex Trading Outlook

Both USD and EUR benefiting from last week's key events. Will Ukraine become a factor?



nw kw 13:35 GMT March 10, 2014
Your Best Trade Today

gbp/chf or Swiss pairs

nw kw 13:31 GMT March 10, 2014
Your Best Trade Today

usd/jpy correlated to us bonds/dax,swis,gbp, ind. down/xagjpy tested support moving up now

Cambridge Joe 13:31 GMT March 10, 2014
USDX
Reply   
IMO USDX softening imminent, continuing for the next few hours.

IMO. GL

HK [email protected] 13:14 GMT March 10, 2014
New world order!
Reply   

Some corporations are bound to lose much if relations with Russia will deteriorate.
Some hope, that by creating a Russian free Ukraine they can get a bigger business advantage.

Clearly a war, or a prolonged conflict may end bad for all sides.

But one thing may arise from that catastrophe: New world order.
You cant create new world order without destroying the old one.

And possibly we are led to war because of that only idea.

And I suspect that Obama and some of his close ones are the anarchists in charge, maybe by using some brainless generals to bully the Russians, or by using any form of instigation.

So watch out that troubles may come unexpectedly, and maybe soon.
So I suggest to be careful for what may happen.

Gold may be a partial answer until things will get clear.

BEWARE OF ANARCHISTS!!!



Mtl JP 12:41 GMT March 10, 2014
Your Best Trade Today

usdyen and gbpusd
-
BIS came out w/piece about "forward guidance"s effectiveness / risks
BoE's Carney is scheduled to yak about inflation tomorrow

HK [email protected] 12:39 GMT March 10, 2014
Buy toilet paper means buy gold:)
Reply   


Mkts.
HK [email protected] 04:58 GMT 03/10/2014


Seems the financial system world wide is not stable any more.

Buy toilet paper or whatever.

GVI Forex john 12:03 GMT March 10, 2014
Your Best Trade Today
Reply   
We are off to a sluggish start today as it appears that markets are looking for something on which to focus. The default trade in situations like this often seems to be risk-on/off driven by equities. The USDJPY to S&P futures (e-mini is by far the most active contract) is trading tightly at the moment.

Its unclear to me at this hour which way this relationship wants to trade. To me, USDJPY is looking bid and the S&P appears to be offered.

Any thoughts?

Amman wfakhoury 11:54 GMT March 10, 2014
GBPUSD 16611 confirmed
Reply   
16611 confirmed will be reached ...any rise above 16656 will return to it.

GVI Forex Blog 10:21 GMT March 10, 2014
Global Markets News
Reply   
Risk aversion was on the front burner after an unexpected drop in Chinese exports and weaker than expected GDP data in Japan. ; Chinese officials blamed seasonal distortions around the Lunar New Year holiday for the trade deficit.

TradeTheNews.com EU Market Update: Feb China data dominates the markets; Chiquita and Fyffes to merge

london red 10:02 GMT March 10, 2014
eur
Reply   
this intraday bout of eurgbp strength looks like coming to an end in the short term at least, suggests a lower eurusd over the next couple of hours, support at 13835/30 then 13800/10.

GVI Forex john 09:21 GMT March 10, 2014
Fixed Income Snapshot
Reply   
Early in European trading hours, financial markets are generally steady into open the new week. There is not a lot to go on initially other that what appears to have been a weak Chinese trade report ovr the weekend. The March data will be an important piece of the picture. Prices in prime fixed income markets are narrowly mixed.

European equities are mixed. Far East equates ended sharply lower. U.s. S&P futures are steady at this hour. The peripheral European bond prices are mixed.

london red 08:14 GMT March 10, 2014
gbp

re eurgbp, to be clear, any move to 8275/80 seen as correctional with a stronger weekly close expected following last weeks bullish breakout. only below 8250 picture changes to bearish and a retest of 8167 support.

london red 08:07 GMT March 10, 2014
gbp
Reply   
bit of support for cable at 16688 a past fib. further at 16640 and then 16605. eurgbp has started firm so looks like we are going up before we fill in last weeks range. approaching res at 8330 so have morning cable short at first support mentioned.
eurgbp expected to see 8275/80 this week, if not then a move through 8350 almost certain by end of week.

PAR 07:50 GMT March 10, 2014
UKRAINE

I .e . 150.000 a week !

Johannesburg HvW 07:48 GMT March 10, 2014
GBPJPY

Much appreciated Mr. Wfakhoury.
Thanks.

PAR 07:48 GMT March 10, 2014
UKRAINE
Reply   
If you hear that some Ukraine oligarchs pay more than
150.000 just to rent a chalet in the luxurious French
ski resort of Courchevel you wonder why so much European
taxpayers money goes in that direction , no strings attached . Poor european taxpayers financing rich Ukrainians who pay no taxes .

Amman wfakhoury 07:35 GMT March 10, 2014
GBPJPY
Reply   
Johannesburg HvW 07:21 GMT 03/10/2014
-------------------------
GBPJPY starts its downtrend to 171.70 and the to 169,00 area
unless it breaks up 173.00 again.

Johannesburg HvW 07:21 GMT March 10, 2014
EURUSD 14300

I made a mistake, should have read GBP/JPY. Sorry.

makassar alimin 07:20 GMT March 10, 2014
swissie
Reply   
got some 0.8768, gl gt

jkt abel 07:17 GMT March 10, 2014
EURUSD 14300

with Dr Qindex, bali sja and amman wfakhoury go in tandem wow euro will just go up, no doubt! thanks gentlemen!
Dil, FM and Zeus can go hibernating :) j/k no offense

Johannesburg HvW 07:11 GMT March 10, 2014
EURUSD 14300

Mr. Wfakhoury, any information on GBP/USD plse?
Continued success to you.

bali sja 07:11 GMT March 10, 2014
EURUSD 14300

cheers Amman wfakhoury, i see it at 1.42, close to your 1.43
let's hit it together, none can beat us ;)
keep buying euro on any dips

nw kw 07:05 GMT March 10, 2014
Mkts.

cad week now see if it runs/gbp/cad

Amman wfakhoury 07:04 GMT March 10, 2014
EURUSD 14300
Reply   


Amman wfakhoury 18:24 GMT December 11, 2013
EURUSD 14300: Reply
we want someone to sit on the top of 13840 to prevent breaking it..and keeps above it otherwise 14300 is coming.
________________________________
Just to remind you with my Long term signal during Dec. for the breaking level 13840.at that time breaking level 13840 did not occur ...but now we are above it.

nw kw 07:02 GMT March 10, 2014
Mkts.

QE and commodities will keep fx funded/faster it drops wold can grows stronger from god inflation ,but not in aud,cad,/thay are to be strong mid summer to late fall and oil in the fall on pipeline approval late fall

HK [email protected] 06:50 GMT March 10, 2014
Asia



Probably too many expected a strong USD for Ret. Let's see

bali sja 06:41 GMT March 10, 2014
Asia

Syd sf, if it does not go down, it will go up instead...

Syd sf 06:20 GMT March 10, 2014
Asia

yeah I posted that last week

I guess my point was more the market really hasn't reacted at these levels .. it's just sitting here - which I find curious.

Syd sf 06:19 GMT March 10, 2014
Australian Dollar Down As China Trade Data Damps Confidence

japanese data today pretty much leaves it up to the BOJ to save the day ... going to be an increase in Yen Buying from Tokyo to cover the imports that keep rising.

Syd 06:03 GMT March 10, 2014
Australian Dollar Down As China Trade Data Damps Confidence
Reply   
SYDNEY--The Australian dollar was weaker Monday amid rising concerns about the strength of the Chinese economy and its financial system, while strong U.S. employment data Friday gave the U.S. dollar a boost in Asia.

At 0530 GMT, the Australian dollar was trading at US$0.9040 compared with US$0.9085 Friday.

The risk-off mood gathered momentum as Asian stocks weakened. Shanghai and Hong Kong led the fall, as weak trade data from China over the weekend weighed on regional sentiment.

Chinese exports sank 18.1% from a year earlier in February, much weaker than the 5% increase that was expected by economists, and following a healthy 10.6% expansion in January. Although the sharp drop raised concerns over Asia's largest economy, distortions due to the long Lunar New Year holidays could have contributed to the surprise fall.

"A modest risk-off tone dominated to start the week in response to the softer Chinese data released over the weekend. In particular, it was the unexpected swing into a trade deficit which drove risk assets lower," said Sue Trinh, currency strategist at RBC Capital Markets.

"The Lunar New Year holidays may have distorted the data, but it is hard to know to what degree," Ms. Trinh added.

Weakness in Chinese metals markets also eroded support for the Australian dollar.

Greg Gibbs, currency strategist at RBS, based in Singapore, said the slide in metal prices reflected ongoing concerns about China's financial system.

"The market will turn its attention to copper and iron ore prices this week that fell sharply and suddenly on Friday," Mr. Gibbs said.

"Sharp weakness in Chinese metals markets has thrown a spanner into the works of an otherwise risk positive environment," Mr. Gibbs added.

Better-than-expected U.S. employment data for February on Friday also reinforced views that the U.S. Federal Reserve will continue to taper its monthly bond buying program.

U.S. non-farm payrolls rose by 175,000 in February, beating expectations for a 150,000 increase. The news helped push the Dow Jones Industrial Average higher.

"Continued improvements to economic data out of the world's largest economy and pro-taper talk from Fed officials set to speak this week may help the greenback to recover some of its ground lost over the past month," said David de Ferranti, market analyst at FXCM.

The Aussie dollar remains vulnerable to any further escalation of tension between Russia and the Ukraine over the disputed Crimea region. DJ

HK [email protected] 06:03 GMT March 10, 2014
Anarchists in action.
Reply   


Ukraine: US Sends Fighter Jets to Poland, Baltic States in Response to Russian War Games.

LINK

Syd 06:00 GMT March 10, 2014
Aussie Miners Slide Over Concern About Metal Prices
Reply   
[Dow Jones] Australian miners suffered sharp falls Monday amid concerns about the outlook on iron ore and copper prices. BHP (BHP.AU), Rio Tinto (RIO.AU) and Fortescue (FMG.AU) fell between 4.1%-9.4%. Copper miner, OZ Minerals (OZL.AU) dived 7.9%. China's disappointing trade data over the weekend added to the sell-off triggered by Friday's tumble in iron ore and copper prices following a small default in China's corporate bond market. Steel rebar futures are down 4% and spot iron ore futures are 4.1% lower in Asian trading. Spot iron ore fell 2.3% on Friday and LME copper dived 3.8%. Along with the recent divergence between the Australian materials sector and the spot iron ore price, traders are also highlighting the divergence between iron ore and steel pries. "Steel prices are at the lowest point since 2009, and China's iron-ore inventory is at a record high," says IG chief market strategist, Chris Weston. "It's hard to see much upside potential for iron ore." China's iron-ore ports inventory hit a record 105 million tons last week

HK [email protected] 05:58 GMT March 10, 2014
Wait like a gold vulture.
Reply   


For those losers who use gold as collateral to cover their recent losses in the S.Mkts. and the shadow banking system funds in China.

GVI Forex Blog 05:55 GMT March 10, 2014 Reply   
- (CN) CHINA FEB TRADE BALANCE: -$23.0B V +$14.5BE (first trade deficit in 11 months; largest deficit in 2 years; 2nd largest deficit on record) >- (CN) CHINA FEB CONSUMER PRICE INDEX (CPI) Y/Y: 2.0%

TradeTheNews.com Asian Market Update: Soft China CPI and surprise trade deficit weigh on sentiment - Source TradeTheNews.com

HK [email protected] 05:48 GMT March 10, 2014
Mkts.



Probably with some 100% corrections, of total bail-ins of some customers bank accounts. hehehe

bali sja 05:14 GMT March 10, 2014
Mkts.

dont worry, some 20% correction all is needed, then everything will be rosy again

HK [email protected] 05:08 GMT March 10, 2014
Mkts.



See the situation in China Japan US... With a worldwide banking system with 100 trillions$ debts .

One cant predict for long time where things will go.

bali sja 05:03 GMT March 10, 2014
Mkts.

what do you mean not stable?

HK [email protected] 04:58 GMT March 10, 2014
Mkts.
Reply   


Seems the financial system world wide is not stable any more.

Buy toilet paper or whatever.

bali sja 03:32 GMT March 10, 2014
buy euro, sell usd
Reply   
for those who followed my call for euro 1.42 from 1.35, we are halfway there, so you can take some profit here to enjoy and leave the rest run for the said target, stop should be comfortably moved now below 1.3750, good luck good trades

GVI Forex Blog 03:29 GMT March 10, 2014 Reply   
A weaker than expected Chinese export and inflations data

Morning Briefing : 10-Mar-2014 -0327 GMT

Hong Kong AceTrader 03:27 GMT March 10, 2014
AceTrader Mar 10: Daily Market Outlook on Major - EUR/USD
Reply   
DAILY MARKET OUTLOOK EUR/USD - 1.3887
Update Time: 10 Mar 2014 01:05 GMT

Although price has rebounded after sharp retreat from last Friday's fresh 2-year peak at 1.3915 to 1.3853 and minor consolidation would be seen in Asia today, as aforesaid move signals a temporary top has been made there, outlook remains mildly bearish for a stronger retracement to 1.3795/00. However, sharp fall below there is unlikely to be seen and support at 1.3776 would hold and yield strong recovery later.

On the upside, only a daily close above 1.3915 would revive bullishness for further gain to 1.3939, then 1.3950/55 before prospect of a correction.

Mtl JP 02:51 GMT March 10, 2014
Asia

sf apparently European banks - who according to the Bank for International Settlements (BIS) hold more than $23 billion in outstanding loans - could lose big in Ukraine. Italian banks, for instance, have loaned nearly $6 billion. - according to piece in atimes
-
I d have thought 200+ billion would start to qualify as "big". Is 23bn really "big" ?

Syd sf 02:13 GMT March 10, 2014
Asia
Reply   
I think Gold dropping $10 had an effect on the early morning dealing till now

but if that recovers then probably most else will too.

$yen I don't feel bearish on it - but I do think it's going to fall into a Range - so you can't chase it higher at the moment.

the eurusd - I don't agree the number friday was all that good - in that it would cause a trend change -- but probably with as many people looking at 1.40/1.42 now -- > it can probably go sideways for a few days first... which is healthy.

this whole Russia/Ukraine Story - I can't wrap my head around it too well -- I'm sure it should be having a greater effect than its currently having -- but maybe that comes when some shooting starts.

Hong Kong AceTrader 01:30 GMT March 10, 2014
AceTrader March 10: U.S. dollar rises on robust U.S. jobs report
Reply   
Market Review - 07/03/2014 20:34GMT

U.S. dollar rises on robust U.S. jobs report

U.S. dollar strengthened against major currencies after the release of higher-than-expected U.S. non-farms payrolls data. Employers added 175,000 jobs to their payrolls last month after creating 129,000 (upwardly revised) new positions in January. However, the unemployment rate rose to 6.7% from a five-year low of 6.6% as Americans flooded into the labor market to search for work. The data added speculations that the Federal Reserve will continue to reduce its monetary stimulus despite the icy weather that gripped much of the nation.

The single currency rose to a fresh 2-1/2 year peak at 1.3915 on signs that the European Central Bank's balance sheet was shrinking. On the data front, German Jan industrial production came in at 0.8% m/m n 5.0% y/y, vs the forecast of 0.8% n 3.9%, previous reading is revised to 0.1% n 3.4% respectively, however, euro pared all the gains after the release of robust U.S. jobs report. The pair retreated to 1.3853 before trading sideways in New York session.

U.S. dollar rallied to as high as 103.76 against the Japanese yen after the release of robust U.S. jobs report, however, profit-taking knocked price lower to 103.12 before trading sideways in New York session on mounting tensions over Ukraine led stocks in Europe and elsewhere to retreat, while U.S. shares traded near flat. The British pound strengthened briefly to 1.6787 on Friday before retreating to 1.6706 in New York afternoon.

In other news, former Federal Reserve Chairman Ben Bernanke said on Friday that the U.S. boom in onshore natural gas production has cut power prices and appears to be contributing to the "reshoring" of manufacturing jobs from overseas. "It's a terrific development. I don't want to overstate it but it's one of the bright spots in the economy," Bernanke said at the IHS CERAWeek energy conference in Houston.

Bernanke said "the jobs number we got this morning was consistent with a recovering economy; signs of less wrangling in Congress over the debt limit and the budget should help alleviate worries among investors." However, Bernanke added more needs to be done on "too big to fail" rules that would limit the risks financial institutions can take. He added that he feels relatively optimistic about the global economy.

Data to be released next week:

Japan trade balance, GDP, Eco watchers survey, France industrial production, manufacturing production, Swiss retail sales, Italy Industrial production, U.K. Lloyds employment confidence, EU Sentix investor confidence, Canada housing starts on Monday.

Australia NAB business confidence, NAB business conditions, Japan rate decision, U.K. sales like-for-like, industrial production, manufacturing production, Germany trade balance, exports, imports, current account, Italy GDP, U.S. wholesale inventories and wholesale trade sales on Tuesday.

Australia consumer confidence, home loans, Japan tertiary industry index, BSI large all industry, BSI large manufacturing domestic CGPI, consumer confidence, U.K. trade balance, EU industrial production, U.S. monthly budget statement on Wednesday

New Zealand rate decision, Australia employment change, unemployment rate, Japan machine orders, China fixed assets exclude rural, retail sales, industrial production, U.K. RICS house price balance, France HICP, CPI, Italy HICP, Canada capacity utilization rate, new housing price index, U.S. retail sales, initial jobless claims, import price index, business inventories on Thursday.

New Zealand manufacturing PMI, Japan industrial production, capacity utilization, Germany CPI, HICP, U.S. PPI, university of Michigan consumer confidence on Friday.

Sydney ACC 00:21 GMT March 10, 2014
Major Australian Miners
Reply   
Australian mining costs taking a pasting this morning at 11:20 am AEST:

Atlas -7.73%
Arrium -7.64%
BHP -3.09%
Fortescue -9.02%
Newcrest -4.00%
Rio -4.59%

jkt abel 00:12 GMT March 10, 2014
Forex News

yen up broadly? wtf??? up like what, a few pips?

 




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Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

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Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

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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