HK RF@ 23:42 GMT May 2, 2014
OIL
Reply
Common sense suggests that a Russian invasion will secure by the first place, all the gas facilities in Ukraine against local terrorism.
Once in Russian hands, supply safety will be higher than now.
So maybe oil will not rise too much or not at all.
Gold on the other hand is affected by different factors.
HK RF@ 23:13 GMT May 2, 2014
This market is not too fast to bake in early expectations.
Reply
Except gold, seems Mkt. players, want really to see first the gas pipes shut down.
They like first to see a Russian invasion, which now is more probable, as Putin has all the ingredients, including extending Russia patience by going first to the security council.
As usual, important weekend happenings happen during weekend.
Cambridge Joe 22:54 GMT May 2, 2014
Too late for FX decisions now, but the Russian army is expected to move.
RF if it is ' the off', it would appear to have the market blind sided.
ATM oil looks like selling appr 30 mins in to the new session and USDX tho likely to have an early up spike softer til approx London open.....
If it goes, all those tank engines appearing like dozens of fire-flies from satellite thermal imaging.... difficult to hide.
It would almost certainly be on our TV screens, if it goes.
Let us hope not.
HK RF@ 22:26 GMT May 2, 2014
Too late for FX decisions now, but the Russian army is expected to move.
Reply
The first serious offensive by the government in Kiev and the dozens of deaths in Odessa sharply escalated the crisis that has led to the worst tensions between Russia and the West since the Cold war. The Kremlin said the battle for the separatist-held city of Slovyansk effectively destroyed the Geneva pact aimed at cooling the unrest in the deeply divided country.
Cambridge Joe 22:17 GMT May 2, 2014
Parachute ? Eject Eject !
CB my recent re-tuning has sharpened the focus somewhat and SnP sell signals have progressed down from the weekly which was supported by the monthly, to the 4 hour which is about 4 trading days away from being directly supported by the daily chart.
Things could happen quicker tho as sell has ( first phase) happened today on the hourly at 11:00 GMT.
30 min sell tripped in at 18:00 by way of FORCE MAJEURE !
It looks likely that there is to be some northward reverberation in the early stages of the new week.
Longs... kiss your A$$ets good-bye !
IMO ! :-)
GVI Forex john 21:24 GMT May 2, 2014
Calendar -- Daily Forex Data
Reply
May 2, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Monday, May 5.
Updated: Trading News Events Calendar
HIGH IMPACT NEWS RELEASES: JP/GB- Holiday, HSBC PMI, US- Markit/ISM Service
PMI
- Far East: JP- Holiday, HSBC PMI.
- Europe: GB- Holiday, EZ- PPI.
- North America: US- Markit/ISM Service PMIs.
dc CB 20:04 GMT May 2, 2014
Risk On/Off Heat Map
Thina Margrethe Saltvedt and Aurelija Augulyte of Nordea Bank,
Russia as important oil as gas supplier to Europe
Disruptions to Russian oil flows will have huge impact on oil prices
Embittered political climate, oil prices at USD 150/barrel and high financial market uncertainty can tip EU back into recession
Oil price spike and flight to safety a recipe for broad-based USD strengthening and lower global rates: three risk scenarios
US shale oil or SPR release will not prevent oil price spike
Three risk scenarios
GVI Forex john 17:08 GMT May 2, 2014
Risk On/Off Heat Map
Early afternoon Ukraine worries persist 10-yr last 2.597%. U.S. equities are mixed. I heard nothing in the Obama/Merkel presser that is likely to defuse pre-weekend jitters. Recall Tokyo is closed on Monday and Tuesday and London is closed on Monday. Its logical to assume most will not want to run positions over this period.
GVI Forex john 15:55 GMT May 2, 2014
Obama/Merkel Press Conference
Reply
Presser due shortly. Focus of markets will be on any Ukraine comments.
UN Security Council Meeting expected later. Called by Russia.
GVI Forex john 15:43 GMT May 2, 2014
Risk On/Off Heat Map
RISK-OFF! Its a strange day when the U.S. comes in with a surprisingly strong jobs report and stock markets sell off and bond yields fall (prices rise).
Note the red in the yields in the prime fixed income markets. We feel for once that fixed income markets are in the lead. European equity markets are ending lower (except FTSE). That suggests "risk-off". The prices for peripheral bond markets are higher (lower yields). Far East equity markets ended mostly up earlier. The U.S. 10-yr was last 2.60%, -1bp.
Note: the color scheme of interest rates has been changed to reflect yields, not bond prices. This aligns all the colors in the chart to reflect risk-on (green) and risk-off (red).
Cambridge Joe 15:35 GMT May 2, 2014
For whot it whorth!!!
LUCKY !!
Cambridge Joe 09:58 GMT 05/02/2014
Looks to me like oil softens 'til around 14:00 GMT......
HK RF@ 15:27 GMT May 2, 2014
The UNO will save.
Reply
The United Nations Security Council will have a formal meeting on Ukraine at 12 pm ET today. - Lauren
HK RF@ 15:19 GMT May 2, 2014
EURO, boring range.
A Friday patient trader will rather wait for 1.3890 to short Euro, to minimize risk significantly.
PAR 15:19 GMT May 2, 2014
Inflation and unemployment figures are rigged
Reply
Labor force participation, measuring the share of the working-age population either employed or seeking a job, declined in April for the first time this year, helping drive the unemployment rate down to 6.3 percent, the lowest level since September 2008. At 62.8 percent, the participation rate matches the lowest level since March 1978 and is down from 63.2 percent in the prior month.
And as every normal person knows inflation figures are calculated by David Copperfield
bali sja 15:10 GMT May 2, 2014
NFP
too many are just trying too hard to justify buying usd, keep it simple approach is better: sell usd on every bounces
PAR, not just in may, it has been many many months like that and I dont see that change anytime soon, keep the same strategy guys if you want to make serious money
london red 15:06 GMT May 2, 2014
Yen
Reply
102.15 now next key level 70 becomes a res. below 15 looks like we revisit 101.20/30 but not likely today so probably expect false break at best.
Others have given euro views inclined to agree on cap.
PAR 15:05 GMT May 2, 2014
US dollar
Real money losing confidence in Us dollar and big players either avoid Us dollar at all or hedge dollar exposure
PAR 14:52 GMT May 2, 2014
US dollar
Reply
Looks like may could be a horrible month for the Us dollar .
HK RF@ 14:49 GMT May 2, 2014
Maybe this will involve Russia openly!
Reply
'Many dead' in Ukraine offensive.
Many pro-Russia rebels have been killed, injured and arrested in the Ukrainian government offensive in the eastern city of Sloviansk, interim president Oleksandr Turchynov has said.
But, in a statement, he said the operation in the rebel-held city was not going as quickly as hoped.
Earlier, rebels shot down two Ukrainian army helicopters, killing a pilot and a serviceman.
Russia has called for an emergency meeting of the UN Security Council.
HK RF@ 14:37 GMT May 2, 2014
EURO, boring range.
Gold warns about an escalation in the Ukr. issue. So Wafq. downside should be regarded seriously.
London Chris 14:31 GMT May 2, 2014
EURO, boring range.
Here we go again!!!!!!!
This is like a bad dream that keeps repeating. RF summed it up.
HK RF@ 14:20 GMT May 2, 2014
EURO, boring range.
Reply
EURO
Locked between a major Res. at 1.3895 and a currently major support at 1.3780, so expect to be cooked at this range for a long time.
Chances of breaking higher than the 1.3895, not looking that good at the moment.
So for those seeking volatility, better pack your things and go home.
Amman wfakhoury 14:14 GMT May 2, 2014
EURUSD 13790 confirmed
Reply
13790 confirmed will be reached.
any rise above 13832 will return to it if 13790 did not reach.
The only one in the world who confirms the next level
Livingston nh 13:32 GMT May 2, 2014
Of Crystal Balls and Roses
2nd request ---
Swiss Frank -- coded message for you on political forum
GVI Forex john 13:30 GMT May 2, 2014
Share Your Trading Ideas for Today
Remember the Yellen rate hike six month after tapering comment? She wishes we won't! Her biggest mistake was probably telling the truth.
July 2015 Fed Funds Futures
now implied 0.475%
pre-data 0.440%
when Yellen spoke 0.350%
What this means is that the markets are gradually moving forward the timing of the first rate hike. Over time this could be USD supportive if the tightening timing continues to shorten.
london red 13:16 GMT May 2, 2014
Share Your Trading Ideas for Today
john, dollar should be firmer as headline is a big beat, tho participation and earnings are a drag and thats why it may be struggling for traction. while yen above 10270 then upside, if under i guess it will go much lower.
euro and particularly cable seem bid, the latter down to m&a interest, tho there comes a point of support when broken, flip market psyche other way. with cable i expect its 10 day/200 hour ma area.
tokyo ginko 13:11 GMT May 2, 2014
NFP
still looking at upside break
GVI Forex john 13:10 GMT May 2, 2014
Share Your Trading Ideas for Today
10-yr yield
pre-data 2.62%
Post data 2.68%
last 2.66%
I'm curious about how it ends the day. Perhaps something else at work here?
Im also curious about how EURUSD and USDJPY wind up.
bali sja 13:03 GMT May 2, 2014
NFP
yawn, perfect reentry chance for short usd especially for cable
Livingston nh 12:59 GMT May 2, 2014
Share Your Trading Ideas for Today
stox may have a "sugar rush" reaction as celebration turns to "uh oh" - watching the 2 yr yield 0.45 (.52 last summer taper hi) and em currencies (SGD lead) as a combo of taper midpoint and fear of earlier rate hikes bite // ISM service next wk prices paid +++ // good thing got off the "forward guidance" employment target when it did
GVI Forex john 12:54 GMT May 2, 2014
Share Your Trading Ideas for Today
Nice correlation initially in S&P futures vs.USDJPY. At this point I am seeing divergence with USDJPY relatively higher post initial reaction to data release. This could be a scaling issue?
london red 12:44 GMT May 2, 2014
GBPUSD 16884 wfakhoury DL
200 hour tested in cable. a second test due, direction then set. if down then 16785/55 possible. but if reaction bounce taken in 50'5 then we recover the lot and probably hit new high daft as it sounds
New York USA 12:43 GMT May 2, 2014
EUR/USD Trend For Today: FOREX Signals
Reply
EURUSD
Entry: Target: Stop:
EUR/USD remains in a narrow range below the 78.6% retracement of the March to April decline near 1.3900
Our near-term trend bias higher in the Euro while over 1.3730
A push through 1.3900 is needed to trigger a new leg higher, but traction over 1.3970 is really required to confirm any sort of meaningful strength
A cycle turn window of some importance is seen next week
A move under the 2nd square root relationship of the year�s high at 1.3730 will turn us negative on the Euro
EUR/USD Strategy: Like the long side while 1.3730 holds.
Trading Levels:
Support: 1.3830- 1.3730
Resistance: 1.3900- 1.3970
For Signals Please take a look @ Marketlive365.com
FOREX Signals
Lahore FM 12:40 GMT May 2, 2014
NFP
NFP
Lahore FM 12:24 GMT 05/02/2014 - My Profile
tokyo ginko 11:48 GMT 05/02/2014
good day for 1892 to break out...along with USD ....GT all!
--
Ginko what about 1858 breaking?
Amman wfakhoury 12:36 GMT May 2, 2014
GBPUSD 16884 wfakhoury DL
CT LV 11:17 GMT 05/02/2014
_________________________
we already have 2 confirmed level 13844 and 13830 from yesterday.
if 1 hr closed below 13832 then is coming 13790
london red 12:25 GMT May 2, 2014
Share Your Trading Ideas for Today
well HFE have 186k, they say adp average miss is 36k so that gives us 175/240 range. however only last week city were looking for a consensus towards 300k.
fwiw rare for in increase in adp to be followed by a lower nfp but 193k is still higher.
Lahore FM 12:24 GMT May 2, 2014
NFP
tokyo ginko 11:48 GMT 05/02/2014
good day for 1892 to break out...along with USD ....GT all!
Saar KaL 12:12 GMT May 2, 2014
Point of no return
GBPNZD...Lower end possible
1.9440
I really doubt will go less then that
tgt 1.98
GVI Forex john 12:11 GMT May 2, 2014
Share Your Trading Ideas for Today
IMHO a 10-yr at 2.62% heading into NFP would seem to be inconsistent with a strong report?
I'm starting my pre-data watch for unusual price moves now on the off chance that the data is leaked. But we know that never happens!!
nw kw 12:08 GMT May 2, 2014
Point of no return
Russell 200 not in good shape at best just save the day
Saar KaL 12:00 GMT May 2, 2014
Point of no return
GBPCHF long with 10 pip drops for 1.49
up till 1.4745
tokyo ginko 11:48 GMT May 2, 2014
NFP
good day for 1892 to break out...along with USD ....GT all!
london red 11:36 GMT May 2, 2014
NFP
re q's 200/250, i think wage inflation needs to be considered as 250 wont give dollar much bang unless wages pick up/ barclays have 250 and so do a couple of thers think bar is quite high today. but if you see wages pick up, dollar will jump but also close stronger.
GVI Forex john 11:36 GMT May 2, 2014
Share Your Trading Ideas for Today
This is why I feel a NFP in excess of +250K would have a profound impact on the markets. I don't care what some say the market expects. Its my observation over the time that traders tend towards the status quo. Markets react to new developments. Just my opinion. Blue line is the six-month moving average.
GVI Forex Jay Meisler 11:21 GMT May 2, 2014
Share Your Trading Ideas for Today
EURUSD 100 and 200- hour mva lie just below, currently at
1.3851 (100 hour)
1.3837 (200 hour)
Same for GBPUSD
1.6850 (100 hour)
1.6825 (200 hour)
Saar KaL 11:17 GMT May 2, 2014
Point of no return
Gold wants 1320
Point of no return is
below 1283
maybe 1277 revisits could be as low as maybe 1270 to 1265
GVI Forex Jay Meisler 11:13 GMT May 2, 2014
NFP
Reply
This is the same question I asked on GVI Forex
What sees a bigger reaction, NFP
below 200K
above 250K
Feel free to comment
Saar KaL 11:10 GMT May 2, 2014
Point of no return
AUDNZD...done with drops...day's low should be it
want 1.09 area
Saar KaL 11:07 GMT May 2, 2014
Point of no return
Reply
EURUSD 1.3940 - 1.3960
Cable 1.6950 -1.6970
the drop will happen from there
london red 10:53 GMT May 2, 2014
GBPUSD 16884 wfakhoury DL
a good to strong nfp presents opportunity in cable. after lower than consensus construction, market itching to hammer cable, the direction of least resistance given marketing positioning. a good nfp should see cable head lower to 200 hour ma once thru 16850, with 16785/90 possible if 200 hour taken.
a weaker nfp may see usdjpy show the most movement with a move to 102.15. euro seems unable to break trend and may well be capped at 13885/139 leaving little opportunity to chase after the number.
GVI Forex Jay Meisler 10:41 GMT May 2, 2014
Beware of thinning liquidity
Reply
As John pointed out on GVIForex, Monday holidays in the London and Tokyo could see dealer participation wane early today once NFP data have been digested.
Johannesburg HvW 10:05 GMT May 2, 2014
GBPJPY 17300
Most excellent Mr.Wfakhoury.
Continued success to you.
Amman wfakhoury 10:02 GMT May 2, 2014
GBPUSD 16884 wfakhoury DL
16856 confirmed and will be reached.
any rise above 16884 will return to it if 16856 did not reach.
The only one in the world who confirms the next level
Cambridge Joe 09:58 GMT May 2, 2014
For whot it whorth!!!
Looks to me like oil softens 'til around 14:00 GMT...... ImO
Cambridge Joe 09:56 GMT May 2, 2014
For whot it whorth!!!
JP 17 Bn. not chicken feed... !
Yday on the radio, a report of how fraud in the UK, phising emails and scam phone calls to dupe old persons into revealing their bank details is worth some GBP Bn. 50 per year.
$Bn. 17..... Pah ! Chicken feed !
Amman wfakhoury 09:34 GMT May 2, 2014
GBPUSD 16884 wfakhoury DL
Reply
Mil 08:25 GMT 05/02/2014
_____________________________
16884 wfakhoury directional level.
It consolidates around since the last 2 days.
ready to move 100 pips or more.
no confirmed level yet..but we can use 16884 for the coming
direction.
the close of 1 hr bar above 16912 means we are heading up.
the close below 16856 means we are down.
we can use also 16884 as directional level after consolidation around it.
GVI Forex john 08:57 GMT May 2, 2014
Final EZ Manufacturing PMI's Mixed U.S. Employment Awaited
Coming into this week, street estimated were for a NFP increase of 210K. Undoubtedly forecasts have increased over the period to around 225K. I've been hearing talk (hope?) for a gain of 250K. Personally I have no basis for making a forecast as ADP data tend to be very unreliable as a NFP indicator.
Mil 08:25 GMT May 2, 2014
GBPJPY 17300
Thank you Mr Amman.
Would you like to inform us please the next confirmed levels for gbpusd and eurgbp.
GVI Forex john 08:20 GMT May 2, 2014
Risk On/Off Heat Map
Reply
Markets are back today after the May Day holiday yesterday, but many dealers are being cautious ahead of U.S. NFP data later this morning. Furthermore, many are still trying to figure out what drove the yield on the U.S. 10-yr Note to below 2.60% at one point Thursday afternoon in NYC. There is no clear risk-on or -off posture at the moment but the bias might be to the risk-on side. Early in European trading hours, yields in some prime fixed income markets are slightly higher ahead of the U.S. markets. In Europe, equities are higher. Far East markets ended up. U.S. S&P futures are up. The peripheral European bond yields are lower. The U.S. 10-yr is 2.63% +2bp.
Note: the color scheme of interest rates has been changed to reflect yields, not bond prices. This aligns all the colors in the chart to reflect risk-on (green) and risk-off (red).
GVI Forex john 08:06 GMT May 2, 2014
April 2014 EZ- Final MFG PMI
EZ final Mfg PMI. Flash estimate revised slightly lower...
EZ, GE and FR final Mfg PMI. Germany revised down. France up from flash estimates...
Amman wfakhoury 08:04 GMT May 2, 2014
GBPJPY 17300
Reply
Amman wfakhoury 07:31 GMT April 30, 2014
GBPJPY 17300: Reply
Amman wfakhoury 11:06 GMT 04/29/2014
17300 confirmed and will be reached.
___________________________
17300 reached
The only one in the world who confirms the next level
nw kw 07:29 GMT May 2, 2014
For whot it whorth!!!
hkd/jpy open interest spikes be big yen move and u/j correlated 90% but xaujpy pulling up most for now //looks to up side for a so so nfp// xaucad pulling down = cat strength//see if I got nfp pegged
Hong Kong AceTrader 07:24 GMT May 2, 2014
AceTrader May 2: Intra-Day Market Moving News and Views GBP/USD
Reply
Intra-Day Market Moving News and Views GBP/USD
02 May 2014 06:45GMT
GBP/USD - 1.6887.. Another piece of breaking news which may 'trigger' another bout of st speculative buying of cable.
U.K. drug maker AstraZeneca says board will review Pfizer offer. A spokeswoman for the company said today AstraZeneca board will be reviewing a sweetened takeover offer fm Pfizer but the company has no further comment at this stage.
Sterling was the 'star currency' in y'day's holiday-thinned trading. Despite initial quiet start due to closure of many major centres for Labour Day holiday, the pound sprang to life at European open n jumped to a near 5-year peak of 1.6921 after U.K. Apr manufacturing PMI beat forecast, however, the bullish euphoria quickly faded when long liquidation emerged, knocking the pound to 1.6876 in NY morning.
Cable has moved narrowly with a soft bias as Asian traders are on the sideline ahead of a slew of eco. data in Europe. We have several eurozone manufacturing PMIs ahead of the release of U.K. Apr construction PMI at 08:30GMT (street forecast is calling for 62.5 vs prev. reading at 62.5) n not to mention the world's most important data, the U.S. non-farm payrolls data at 12:30GMT. Initial bids are noted at 1.6870-60 with some stops touted below 1.6850, on the upside, offers are reported at 1.6910/20 n more abv, suggesting near term range trading wud continue but buying cable on dips is till the preferred strategy after clocking up 6 consecutive days of winning streak on Thur.
Sydney ACC 05:42 GMT May 2, 2014
Volatility
Reply
G's Chris Weston comments on the lack of volatility in markets:
This week, EUR/USD for example has traded in a 114 pip range, which is a slight expansion from last week�s 70 pips range, which in itself was the narrowest weekly range since the inception of the EUR in 1999. Last week USD/JPY had its narrowest range since January 2012, while GBP/USD since 1988. The US 10-year treasury has traded in a 23 basis point range since the start of January � the tightest range over the time frame since 1978, while the S&P 500 can�t shake its 1840 to 1880 range.
Read more: http://www.smh.com.au/business/markets-live/markets-live-twe-high-on-pernod-20140502-37lig.html#ixzz30XAk4jgR
bali sja 05:21 GMT May 2, 2014
For whot it whorth!!!
no censored is worth it in Ukraine news until nuke is used, get over it
Syd 04:48 GMT May 2, 2014
There is speculation that China may be hiding $700B of holdings of US bonds Source TradeTheNews.com-
Reply
(CN) There is speculation that China may be hiding $700B of holdings of US bonds - financial press- CBRC chairperson Liu Minkang noting China may hold $2T worth of US bonds in foreign reserves by end of Feb in a speech delivered in Washington DC vs $1.3T figure from US Treasury. - Speculation that China may hold US bonds anonymously or under other account names; Other speculated China may access through European bond settlement system in Belgium. **Note: In terms of Belgium's Treasury holdings, in Feb the figure rose by approx $31B to approx $341B, making the country the third largest holder of such bonds; According to some, the Treasury buying is being driven by countries which use Brussels as a financial center. - According to the US Treasury's Feb TIC flows report, China's holdings of Treasuries totaled about $1.273T. - In 2011, there was speculation among analysts that China's US debt holdings could be higher than the reported figures. The report suggested that China could be purchasing Treasuries through Hong Kong and UK. According to the report, a Standard Chartered analyst said that China's holdings of US debt could total about $2T. - Source TradeTheNews.com
HK 04:21 GMT May 2, 2014
For whot it whorth!!!
SLOVYANSK, Ukraine (AP) � Gunfire and blasts have been heard around an eastern city in Ukraine that has become the focus of an armed pro-Russian insurgency.
An emergency siren sounded in Slovyansk at dawn Friday in a further indication government troops assayed a military assault.
Vyacheslav Ponomarev, the insurgency-appointed mayor of Slovyansk, said self-defense forces had shot down two helicopters and taken one pilot hostage. He said no Ukrainian troops could be seen in the city. Details could not be independently confirmed.
An APTN cameraman reported seeing black plumes of smoke on the edge of the city.
The armed element of the insurgency is focused on Slovyansk, a city 160 kilometers (100 miles) west of Russia in which seven European observers from the Organization for Security and Cooperation in Europe remain held by pro-Russia gunmen.
HK RF@ 03:47 GMT May 2, 2014
For whot it whorth!!!
Reply
A full-scale sweep operation is underway in the eastern Ukrainian city of Slavyansk, armored vehicles are on the outskirts of the city, a spokesman for the Slavyansk militia said Friday.
The Ukrainian authorities have used helicopters against civilians, he said.
Is that what Putin waits for??? Let's see.
dc CB 03:12 GMT May 2, 2014
Shoot thy legs.
Say Whot...OMG
get the guns grammy get the guns
Whot??? we can't got to MARS...goddam F**&n Ruskies
I dreamed that I'd get to Mars, I dreamed You'd get to Mars
God Damed Ruskies!!!!!!
HK RF@ 02:56 GMT May 2, 2014
Shoot thy legs.
Reply
Pentagon says it cannot replace imported Russian rocket engines.
The Pentagon cannot find a replacement for the Russian rocket engines it buys anytime soon, a senior official has revealed. The import of the engines has for now been banned via a court order lobbied by SpaceX and based on sanctions against Russia.
Washington may soon find it problematic to continue launching its military satellites, as a long-time supply connection between Russian and US defense companies has been halted and is being reviewed � all because of sanctions against Moscow in connection with the Ukrainian crisis.
Earlier ordered by US Defense Secretary Chuck Hagel, the review of US Air Force dependence on the Russian-made RD-180 engine, used in American Atlas V rockets, has not yielded any solutions.
�We don�t have a great solution. We haven�t made any decisions yet,� Frank Kendall, the US undersecretary of defense for acquisition, was quoted as saying by Bloomberg in a Thursday article.
Syd 02:26 GMT May 2, 2014
aud
Reply
The prospect of increased income tax in the Australian Federal Budget on May 13 is "just another reason to maintain a tactically bearish stance" on Australian equities, according to Charlie Aitken, Bell Potter's managing director. "Let's hope I am reading this political risk wrongly, but be very assured if the 'debt levy' becomes reality in the upcoming Federal Budget it clearly has the potential to trigger a correction in Australian equities," he says. "Even the thought of it has triggered a mini-correction in banks and retailers." It has been suggested that a levy will be introduced on high-income earners to speed the process of reducing Australia's budget deficit. Australia's benchmark S&P/ASX 200 is flat at 5445.0 but has fallen as much as 2.2% after hitting a six-year high on Tuesday
Hong Kong AceTrader 02:14 GMT May 2, 2014
AceTrader May 2: Daily Outlook on Major USD/JPY
Reply
DAILY MARKET OUTLOOK USD/JPY - 102.28
Update Time: 02 May 2014 00:13 GMT
The greenback traded narrowly on Thursday after Wednesday's strong retreat from 102.67 to 102.03, however, as aforesaid sell off suggests recent up move from April's low at 101.32 has formed a temporary top at 102.79 on Tuesday 102.79, choppy consolidation with downside bias would be seen and weakness towards 101.96 support (last Friday's low) is likely, below would bring stronger pullback to 101.60/70, however, as broad outlook remains consolidative, April's low at 101.32 should hold from here and yield further choppy gyrations.
On the upside, only a breach of 102.67 would turn outlook bullish for another corrective rise to 103.06, being 61.8% retracement of 104.13-101.32, however, reckon upside would be limited to 103.30/40.
dc CB 01:22 GMT May 2, 2014
Cmon ECB, Send Us a Signal?
Don't you get it...Gammy and Mario Hug Every Night...Abe too
They want to keep it close.
This is a MeatGrinder Trade.
GVI Forex Jay Meisler 01:10 GMT May 2, 2014
Cmon ECB, Send Us a Signal?
Reply
Thoughts from the Trading Trenches
In our May newsletter
C�mon ECB, Send Us a Signal?
There was a trader on the GVI Forex forum who often used the term, �bid in an offered market� to describe when a currency trades better bid when it is actually better offered. I would like to think this is the case with the EURUSD, which has confounded most forecasts by holding firm through the first four months although as of this writing it is barely up on the year (+0.6%)....Read More
C�mon ECB, Send Us a Signal?
We are starting an affiliate program to market some of our products.