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Forex Forum Archive for 05/07/2014

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


GVI Forex 23:28 GMT May 7, 2014
ECB to hold course as euro strength challenges recovery
Reply   
This is a good article - covers the ECB meeting

ECB to hold course as euro strength challenges recovery

Syd 22:28 GMT May 7, 2014
DJ Aussie Dollar Off Ahead of Jobs Data -
Reply   
AUD/USD is a tad lower as investors focus on the Australian employment report with expectations that the unemployment rate will rise, says BNZ strategist Kymberly Martin. "As always, the employment reports are a lot more complex than the unemployment rate, although initially this number grabs attention." Martin adds BNZ's parent bank NAB expects a rise in the unemployment rate to 6%, higher than market consensus for 5.9%. She adds overall this type of outcome "should not be too negative for the AUD." The pair is at 0.9327, from 0.9340 late last session. Martin puts short-term support for the pair at 0.9320 and resistance at 0.9380.

Tallinn viies 21:21 GMT May 7, 2014
eurusd
Reply   
covered short euro at 1.3912.
sq now. plan to buy near 1.3870-75 for final push to break 1.3965-70

GVI Forex john 21:05 GMT May 7, 2014
Calendar -- Daily Forex Data



May 7, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Thursday, May 8. Updated: Trading News Events Calendar

HIGH IMPACT NEWS RELEASES: CN- Trade, AU- Employment, DE- Industrial Output, CH- CPI, BOE Decision, ECB Decision, US- Weekly Jobless, 30-yr Auction.

  • Far East: CN- Trade, AU- Employment.
  • Europe: DE- Industrial Output, CH- CPI, BOE Decision, ECB Decision.
  • North America: US- Weekly Jobless, Natural Gas, 30-yr Auction.


Saar KaL 20:28 GMT May 7, 2014
Day's Trades
Reply   
Short On CADJPY on Menu
CAD/JPY above 93.46
till 94.40

tgt
93.02
to 92.5

Gold Maybe next day
Longs for this range
1,308.56 1,281.80
till 1265


GVI Forex Blog 20:17 GMT May 7, 2014
AUD and NZD
Reply   
Risk appetite improved slightly on Russian diplomacy and Fed comments. President Putin said Russia pulled back its troops from the Ukrainian border, although NATO later disputed that. Fed Chair Yellen's testimony to Congress revealed nothing new but did reiterate that interest rates would remain on hold for some time after tapering ended.

Australia & NZ Morning Thoughts

GVI Forex john 20:08 GMT May 7, 2014
Share Your Trading Ideas for Today

Thursday is a big news day

China: trade data, especially exports are seen as a proxy for economic growth

Australia: Employment data are probably their most important economic metric

Switzerland: The SNB targets inflation and the Swiss economy is mired in disinflation.

Bank of England: No policy changes are expected. Sometime soon the BOE wil start releasing a policy statement with its decisions?

European Central Bank: the ECB has no stomach for QE or an interest rate cut. Expect more dovish statements and little else.

United States: Initial Jobless. - Volatile series. Data should only be viewed in the context of other recent data.

Yellen Testimony to Senate - She is unlikely to say anything new.

30yr auction - strength of long dated auctions always closely scrutinized.

dc CB 20:06 GMT May 7, 2014
Yellen Springs No Surprises Dovish Policy to Persist. Bond Yields Remain Low

As the Senators check their stock accts this evening, nice warmy thoughts about Gammy will fill their noggins.

Expect effusive praise tommorrow.

Livingston nh 19:42 GMT May 7, 2014
EUR
Reply   
the 55 ema on the hourly EUR/USD has been supportive (1.391) but maybe the Draghi risk kicks in on a break

GVI Forex john 19:37 GMT May 7, 2014
Calendar -- Daily Forex Data
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.

eu pat 19:08 GMT May 7, 2014
jpy
Reply   
ok before going to bed..
JPY is unbelieve last weeks...look at these pinbars from both sides)0
I guess that fall down on one day will be huge..

GVI Forex john 19:06 GMT May 7, 2014
Chart Points -- Trading Points
Reply   
Pre-Closing Trading Points...
many more chart points
About Moving Averages
About Bollinger Bands


Livingston nh 19:03 GMT May 7, 2014
Yellen Springs No Surprises Dovish Policy to Persist. Bond Yields Remain Low

Slow Day - the DNA of most CBs was geared to resist inflation - the current crop sees deflation as an enemy instead of an ally // so we have Yellen who today expressed the Unemployment Rate as "if I had to pick one" favorite -- so she thinx inflation is "too low" -- inflation is a process not an event and the great fear is always "expectations" - Yellen (like her predecessor) has never had to deal w/ inflation de facto merely in theory // a couple of points - expectations are driven by "cost of living" which doesn't get measured by the Fed's preferred inflation gauge (so it has a tendency to sneak up on the pointy headed theorists) - ISM services (non-manuf) Prices component has been rising for over 4 1/2 yrs - two items critical to "cost of living" (food and energy) are routinely excluded by pointy heads - BUT two that aren't yet excluded are medical and housing both of which should show more pronounced moves in CPI because owners equiv rent will shadow the big rise in rental costs and health care (18% of GDP but only 6.5% of CPI) will begin to have a larger impact on "cost of living" expectations

The current crop of CB types are "wishing" for inflation to protect their financial clients - be careful what you wish for

US inflation is running at 1.5% to 1.9% -- a 2 yr Treasury is yielding less than 1/3 and you get to pay tax on the interest

Go figure what happens when the market wakes to that

GVI Forex john 18:51 GMT May 7, 2014
Fed Chair Yellen Text

May 8 Testimony--Chair Janet L. Yellen
The Economic Outlook
Before the Committee on the Budget, U.S. Senate
9:30 a.m.

Cambridge Joe 18:49 GMT May 7, 2014
Share Your Trading Ideas for Today

Email sent. Did so yday, don't know why it didn't show.. ?

dc CB 18:48 GMT May 7, 2014
Yellen Springs No Surprises Dovish Policy to Persist. Bond Yields Remain Low

RevRepo today ===still in the pump-you-up mode.
$193.706bln

Yellen plays weatherwoman again tom for the Senate. So Gold should get wacked again in her honor.

GVI Forex Blog 18:28 GMT May 7, 2014
Yellen Springs No Surprises Dovish Policy to Persist. Bond Yields Remain Low
Reply   
HIGH IMPACT NEWS ITEMS: CN- Trade, AU- Employment, DE- Industrial Output, CH- CPI, BOE , ECB, US- Weekly Jobs, 30-yr

Fed Chair Yellen took an accomodative posture as expected Wednesday reiterating that a high degree of Monetary policy accommodation is still warranted. She noted that after the harsh winter that indicators point to a rebound in spending and production. She said that labor market conditions continue to improve, but they are still far from satisfactory and that involuntary part-time work and weak wage growth signal "substantial slack". On balance, her comments were dovish as expected.

Yellen Springs No Surprises Dovish Policy to Persist. Bond Yields Remain Low

Cambridge Joe 18:23 GMT May 7, 2014
Share Your Trading Ideas for Today

Asia sells oil approx 20:00 GMT. IMO. GL

Belgrade TD 17:54 GMT May 7, 2014
Daily TA trade

also short Duke Energy (DUK) ~73,5 ... and on FX side, short AUD/USD ~0,934 for ~0,92 or so ... with stop near 0,938/9 ... am out for today ... ;)

nw kw 17:24 GMT May 7, 2014
Daily TA trade

new shift LA usd can export cad heavy oil it has no restrictions new trend starting

nw kw 17:02 GMT May 7, 2014
Daily TA trade

your target is good but hear in cad TSX reports big investments for big bull

Belgrade TD 16:57 GMT May 7, 2014
Daily TA trade



nw kw 16:51 GMT 05/07/2014
and for NatGas am looking for 3,95-4,00 ... IF ...

nw kw 16:51 GMT May 7, 2014
Daily TA trade

NAtgas, ??????? thay got paid and are behind

Belgrade TD 16:46 GMT May 7, 2014
Daily TA trade

nw kw 16:29 GMT 05/07/2014
am expecting a decline of 5-7% in energy sect from Brent to NAtgas, etc ... in a few months or maybe earlier ... same for SPX ... but that's just my perception of future market ... GLGT

nw kw 16:29 GMT May 7, 2014
Daily TA trade

energy sector are defensive but tek bad

Belgrade TD 16:14 GMT May 7, 2014
Daily TA trade

In May:
am selling SP500 and energy stock/futures ... Wednesday, Thursday, and Friday are down days and Monday and Tuesday - up days (short therm cycle) ... anyway, more shares are selling on down days than it buys back on up days so net result has been very clear - Sell sp500 ... and major consequence = decline in energy sector ... will see :)

CT LV 15:46 GMT May 7, 2014
Share Your Trading Ideas for Today

Thanks Joe. Just wanted to make sure I understand you correctly.

GT

Cambridge Joe 15:45 GMT May 7, 2014
Share Your Trading Ideas for Today

LV ** IF** the forecast is correct, (and that is an IF) there very short term while usdx softens, eurusd might well firm, go up. However, my set-up suggests that from around 19:30 GMT we are likely to see usdx firming, which dependant of flow rates, would mean eurusd down..... If this is correct, the effect could well run across a couple of days.... DYOD & Good luck !

GVI Forex john 15:40 GMT May 7, 2014
Risk On/Off Heat Map

European equities are ending mixed to higher, while U,S. shares are trading narrowly mixed. Most major equity markets in the Far East closed sharply lower after holidays. Yields in the prime fixed income markets are mixed to lower. Comments by Fed Chair Yellen have had little impact on the markets. The yields for peripheral bond markets are higher. The U.S. 10-yr was last 2.58%, -2bp.

The heat map color scheme of interest rates reflect yields. This aligns all the colors in the chart to reflect risk-on (green)
and risk-off (red).

CT LV 15:39 GMT May 7, 2014
Share Your Trading Ideas for Today

Cambridge Joe 15:35 GMT 05/07/2014
Looks to me : USDX softer for next few hours. Looking for significant firming of USDX Thursday thru Friday, maybe more.
-----------------------------------------------------------------------------------
Hi Joe

I am not sure what this means.
Does it mean for example EUR/USD up?

Cambridge Joe 15:35 GMT May 7, 2014
Share Your Trading Ideas for Today

Looks to me : USDX softer for next few hours. Looking for significant firming of USDX Thursday thru Friday, maybe more.

Looking more positive from around 19:30 GMT

IMO. GL

GVI Forex Blog 15:31 GMT May 7, 2014 Reply   
US equity markets are recovering from steep losses this morning, with the S&P500 and DJIA back to positive territory. However, the Nasdaq is still deep in the red, as various tech firms see very steep losses

TradeTheNews.com US Market Update: Nasdaq and Tech See Steep Losses, Easing of Tensions in Ukraine

GVI Forex john 15:17 GMT May 7, 2014
Fed Chair Yellen Text

Current July 2015 Fed Funds futures implied monthly average is 0.45% -1.5bp today. Before the Yellen 6-mo comment (and April jobs) it was 0.380%. that works out to an 80% chance of one 25bp rate hike by that month.

Johannesburg HvW 15:08 GMT May 7, 2014
View of G/J plse

Most excellent Mr.Wfakhoury.

Thank you again for your assistance today.

Best regards,

GVI Forex Blog 14:56 GMT May 7, 2014 Reply   
May 7, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Thursday, May 8. Updated: Trading News Events Calendar HIGH IMPACT NEWS RELEASES: CN- Trade, AU- Employment, DE- Industrial Output, CH- CPI, BOE Decision, ECB Decision, US- Weekly Jobless, 30-yr Auction.

GVI Forex Data Outlook for May 8, 2014

GVI Forex john 14:54 GMT May 7, 2014
Calendar -- Daily Forex Data
Reply   


May 7, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Thursday, May 8. Updated: Trading News Events Calendar

HIGH IMPACT NEWS RELEASES: CN- Trade, AU- Employment, DE- Industrial Output, CH- CPI, BOE Decision, ECB Decision, US- Weekly Jobless, 30-yr Auction.

  • Far East: CN- Trade, AU- Employment.
  • Europe: DE- Industrial Output, CH- CPI, BOE Decision, ECB Decision.
  • North America: US- Weekly Jobless, Natural Gas, 30-yr Auction.


NY JM 14:51 GMT May 7, 2014
Fed Chair Yellen

Soon focus will shift to the ECB and do you want to be long when Draghi reiterates his fx comments?

At a minimum this suggests a limit on the EURUSD upside (i.e. below 1.3950) ahead of the meeting, test comes afterwards.

GVI Forex john 14:47 GMT May 7, 2014
Fed Chair Yellen Text

Yellen refusing to be pinned down about when rates will be "normalized". The "six month" forecast is out the window. This does not mean the Fed might not tighten six months after asset purchases end. It only means It will not be be providing any kind of time line at the present time.

london red 14:46 GMT May 7, 2014
Fed Chair Yellen

yellen seems intent on saying nothing new

Livingston nh 14:46 GMT May 7, 2014
Fed Chair Yellen

Markets always test new Fed Chair - Yellen is the second consecutive theorist - she believes in Phillips curve (and its evil spawn NAIRU) -- so her test will probably be inflation related (challenging her employment slack thesis) // Congressional questions may mark a beginning of test

GVI Forex john 14:31 GMT May 7, 2014
US EIA Weekly Inventories
Reply   



NEWS ALERT
Crude Oil: -1.800 vs. +1.000 exp vs. +1.70 prev.
Gasoline: -1.610 vs. -0.500 exp vs. +2.000 prev.
Distillates: -0.450 vs. +1.500 exp vs. +1.940 prev.
Cap/Util: 90.20% vs. n/a exp vs. 91.00% prev.
Weekly Petroleum Status Report




TTN: Live News Special Offer

eu pat 14:28 GMT May 7, 2014
Share Your Trading Ideas for Today

my trade is short eur/jpy ( before Y)...I count usd stronger eur/usd down and stocks down (usd/jpy flat or down next)...my target is 140.940...or BE (this time I will not close earlier)))

Amman wfakhoury 14:27 GMT May 7, 2014
EURUSD 13919

Amman wfakhoury 12:15 GMT 05/07/2014
prague mark 11:59 GMT 05/07/2014
_____________________
consolidates at 13919..any rise above 13919 will return to it.
we have confirmed level 13902 and 13832 still active
_________________________________
13919 reached again as 13902 did not reach

GVI Forex john 14:25 GMT May 7, 2014
Fed Chair Yellen
Reply   
Live Webcast of Yellen Testimony

U.S. Economic Outlook

Amman wfakhoury 14:25 GMT May 7, 2014
View of G/J plse

Amman wfakhoury 11:44 GMT 05/07/2014
if 1 hr bar closed below 172.60 we are heading again to 172.35
___________________________________
172.85 and 172.35 reached according yesterday and today signal


Paris ib 14:25 GMT May 7, 2014
Fed Chair Yellen Text

No sign that the taper will not continue.

GVI Forex 14:21 GMT May 7, 2014
Share Your Trading Ideas for Today

Stocks turning down, bond yields lower, JPY (reversing higher) following, nothing to do with what Yellen said.

GVI Forex john 14:20 GMT May 7, 2014
Share Your Trading Ideas for Today

10-yr 2.591%

GVI Forex john 14:18 GMT May 7, 2014
Fed Chair Yellen Text

The surprise would have been if she weren't dovish. Focus for the markets seems to be on the timing of the first Fed tightening. The real issue will be the pace of Fed tightening when it starts. At this juncture that looks to be very slow.

london red 14:11 GMT May 7, 2014
Fed Chair Yellen Text

dont think anyone surprised by dovishness. yen pair dragged back down by s&p. res at 102.15/20 for further gains. euro major fib at 13958, possibly can break but maybe not hold ahead of ecb

GVI Forex JM 14:06 GMT May 7, 2014
Fed Chair Yellen Text

No surprise in prepared text.

Paris ib 14:06 GMT May 7, 2014
U.S. Cost of Funding Keeps Rising
Reply   
All this good news and all the sensible talk from Putin is only pushing the U.S. cost of funding up. Yields are rising across the curve. But the USD is not seeing any material benefit. The USD and the U.S. economy can't catch a break.

I guess that's what happens when you shoot yourself in the foot. Threaten sanctions, allow the fear of having funds frozen for whatever reason and you undermine your own international reserve status.

Jim Rogers

GVI Forex john 14:05 GMT May 7, 2014
Fed Chair Yellen Text
Reply   
- High Degree of Monetary Policy Accommodation Still Warranted
- Recent Flattening in Housing Activity May Prove More Protracted
- Fed Cognizant of Low Inflation Risks, Monitoring Closely
- Involuntary Part-Time Work, Weak Wage Growth Signal "Substantial Slack"
- Labor Market Conditions Continue to Improve, Still Far From Satisfactory
- Readings on Housing Activity Have Remained Disappointing, Bear Watching
- After Harsh Winter, Indicators Point to Rebound in Spending, Production

NY JM 13:54 GMT May 7, 2014
Share Your Trading Ideas for Today

Pre-Yellen focus is on easing tensions in Ukraine.

EUR getting cross flows but EURUSD still below 1.3950.

london red 13:52 GMT May 7, 2014
Share Your Trading Ideas for Today

actually most are looking for more dovishness from what i am reading, so surprise may be to other side

eu pat 13:47 GMT May 7, 2014
Share Your Trading Ideas for Today

market is set before Y for stronger USD..I do not know but carefully...can be move to both side...first usd down then up...

london red 13:47 GMT May 7, 2014
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usd up vs yen on higher wage costs plus putin backtrack. jpy has been beneficiary from savehaven flows so when putin seen to play ball, bound to give up some gains, but also today saw us productivity drop and wages much higher than expected. usdjpy is sensitive to changes/potential changes in us yields

GVI Forex john 13:44 GMT May 7, 2014
Share Your Trading Ideas for Today

Also 10-yr back to 2.60% area.

GVI Forex john 13:43 GMT May 7, 2014
Share Your Trading Ideas for Today

fwiw S&P and USDJPY are not correlating well today S&P heavy but USDJPY has not been going along for the lower ride.

prague mark 13:26 GMT May 7, 2014
Share Your Trading Ideas for Today

per my view there are plenty offers ahead of yeaterdays 1.3951, starting 1.3940... and 1.3947 should hold... otherwise it might be viewed as tight stop/price I am willing to pay for testing the waters :)

GVI Forex 13:26 GMT May 7, 2014
Global Markets News

Putin calling on separatists to postpone referendums in the South and Eastern Ukraine.

GVI Forex 13:23 GMT May 7, 2014
Global Markets News

5/7/2014 9:20:21 AM
(RU) Russia Pres Putin: Ukraine crisis developing along unfavorable scenario; Callls for Ukraine to stop military operation
- All parties are interested in coming to a resolution on the crisis
- Russian and OSCE approaches to the Ukraine coincide
- Source TradeTheNews.com

HK [email protected] 13:18 GMT May 7, 2014
FWIW
Reply   


HONG KONG — Tensions in the South China Sea intensified Wednesday as Vietnamese naval vessels confronted Chinese ships that were working to place an oil rig off Vietnam’s coast, and Vietnamese officials claimed that their ships had been rammed by the Chinese vessels.

Vietnam said the Chinese ships also fired water cannons at its naval flotilla in the encounter, injuring Vietnamese sailors, although Chinese officials did not confirm the incident. The skirmishing highlighted the hair-trigger tensions in the region as Asian nations try to contain China’s more aggressive posture in pursuing maritime claims in the South China Sea.

GVI Forex Jay Meisler 13:16 GMT May 7, 2014
Share Your Trading Ideas for Today

Mark, may I ask how you arrived at that stop? Is it based on pips as the key level is yesterday's 1.3951 high.

prague mark 13:11 GMT May 7, 2014
Share Your Trading Ideas for Today

Sell EURUSD
Entry: 1.3907 Target: 1.3867 Stop: 1.3947

ENTRY=SELL STOP

GVI Forex Jay Meisler 13:04 GMT May 7, 2014
Share Your Trading Ideas for Today

During this lull waiting for Yellen, feel free to pose some trading scenarios for her testimony.

GVI Forex Jay Meisler 12:45 GMT May 7, 2014
Global Markets News

This news seems to have given risk on a lift (note JPY) but actions speak louder than words

GVI Forex 12:11 GMT 05/07/2014

GVI Forex john 12:38 GMT May 7, 2014
Share Your Trading Ideas for Today

S&P futures up 4.8
10-yr now 2.611%

GVI Forex john 12:31 GMT May 7, 2014
1Q14 U.S. Productivity
Reply   



ALERT
-1.70% vs. -0.60% exp. vs. +1.80% (r +2.30%) prev.


TTN: Live News Special Offer


Direct links to primary data sources

GVI Forex Jay Meisler 12:30 GMT May 7, 2014
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Weaker JPY giving EURUSD a bid but still below 1.3950 and USDJPY 102 and EURJPY 142.

Price action confirms USDJPY 101.30 as key support (not tested).

Thin pre-Yellen market...

Saar KaL 12:23 GMT May 7, 2014
Day's Trades

you should really look into (For a month)
EUR/USD Sell
XAU/USD Sell
GBP/USD Sell
USD/JPY Buy
NZD/USD Sell
USD/CAD Buy

Amman wfakhoury 12:15 GMT May 7, 2014
EURUSD 13919
Reply   
prague mark 11:59 GMT 05/07/2014
_____________________
consolidates at 13919..any rise above 13919 will return to it.
we have confirmed level 1902 and 13832 still active

GVI Forex Jay Meisler 12:13 GMT May 7, 2014
Global Markets News

nw kw 10:29 GMT 05/07/2014 - can you explain what you are asking

GVI Forex 12:11 GMT May 7, 2014
Global Markets News

5/7/2014 8:03:42 AM - Source TradeTheNews.com
(UR) Russia President Putin: Ready to discuss ways to resolve the Ukraine crisis**Note that yesterday, the chairman of the OSCE has called for a ceasefire in Ukraine in the runup to a planned presidential election on May 25.
- On May 1st, Russia Foreign Min Lavrov called for "dialogue" between Ukraine and its opponents under aegis of OSCE

- Source TradeTheNews.com

prague mark 11:59 GMT May 7, 2014
View of G/J plse

Amman wfakhoury

what eur/usd level we are aiming today on the downside ? 1.3832 ? TIA

Johannesburg HvW 11:47 GMT May 7, 2014
View of G/J plse

Thanking you most sincerely Mr.Wfakhoury.

Continued success to you.

Amman wfakhoury 11:44 GMT May 7, 2014
View of G/J plse

if 1 hr bar closed below 172.60 we are heading again to 172.35

Amman wfakhoury 11:41 GMT May 7, 2014
View of G/J plse

yesterday signal and levels still active.

Belgrade TD 11:39 GMT May 7, 2014
Daily TA trade

Buy USDCHF
Entry: ~0.875 Target: 0.883+ Stop: ~0.87

Long here ... during May ...

Johannesburg HvW 11:35 GMT May 7, 2014
View of G/J plse
Reply   
Mr.Wfakhoury if you are available, would you mind sharing your view on G/J plse?

My TP @ 172,656 for now.

Thanks for replying and when you have a minute to spare.

GVI Forex Jay Meisler 11:23 GMT May 7, 2014
Trading Strategies You Can Use When Prices Do Not Move Much
Reply   
Are you frustrated by tight ranges and getting chopped up when currency rates do not move much? Are you frustrated by the lack of trends? Are you looking for trading strategies you can use in the current environment. Here are 9 things you can do to help you trade in this low volatility market.... click to read

Trading Strategies You Can Use When Prices Do Not Move Much

GVI Forex john 11:12 GMT May 7, 2014
U.S. Weekly Mortgage Applications
Reply   
Big rebound in weekly mortgage applications. Note purchase index up +8.9%. Housing data in the States has been lagging.

eu pat 11:00 GMT May 7, 2014
eur/jpy

Thanks kw...I will look at this.

nw kw 10:44 GMT May 7, 2014
eur/jpy

eu pat 10:28 GMT 05/07/2014

hid this pat

http://www.usagold.com/gold-price-forex.html

nw kw 10:40 GMT May 7, 2014
eur/jpy

xaujpy drifting up might be a short if gets legs but the fed???????

GVI Forex john 10:40 GMT May 7, 2014
Share Your Trading Ideas for Today
Reply   
I wonder if the risk-off posture of the market will fade fairly soon today? NY equity markets generally do not like to follow the lead of markets overseas.

As for Yellem today. Keep in mind she is not an objective economist, part of her job is to foster confidence in the economy. Thus I expect her to say the economy has been improving but to indicate that the Fed will be doing al it can to promote growth. Also, consider that a weaker USD is supportive of growth so she is unlikely to have anything to say in support of a stronger USD.

nw kw 10:29 GMT May 7, 2014
Global Markets News

GVI Forex Jay Meisler you need a place that we can save info for one can save it in this place

eu pat 10:28 GMT May 7, 2014
eur/jpy

out from long + 9 pips))) only scalp...
sry...but it not looks for action from this short term setup...Its against current trend... I see Ukraine...

GVI Forex Blog 10:05 GMT May 7, 2014
Global Markets News
Reply   
US bond yields have been driving the greenback lower in recent sessions (defying the recent spat of 'better economic US releases). Dealers also noting that Chinese reserve reallocation from trying to weaken its CNY currency also behind the lower US bond yields. The overall FX price action was steady in the session

TradeTheNews.com EU Market Update: Euro and sterling await rate decisions; EU banks report mixed results

GVI Forex Blog 09:29 GMT May 7, 2014
Yellen Mid-Morning Economic Testimony the Focus. Markets in Risk-Off Posture
Reply   
HIGH IMPACT NEWS ITEMS: US- Productivity, Yellen testimony, 10-yr Auction

Today at 14:00 GMT Federal Reserve Chair Yellen will testify before the Congressional Joint Economic Committee on the economic outlook. It would be reasonable to expect a mildly optimistic but cautious view n growth. Its unlikely that she would have something NEW to disclose about future policy so soon after an FOMC meeting.

Yellen Mid-Morning Economic Testimony the Focus. Markets in Risk-Off Posture

eu pat 09:23 GMT May 7, 2014
eur/jpy
Reply   
bought at 141.30 sl 25 pips
loks too early buy eur, gbp, aud, nzd etc against usd..I will wait little be longer to finish corrections and find levels for enter new positions...

GVI Forex john 09:08 GMT May 7, 2014
Risk On/Off Heat Map
Reply   
Look at all the red. Markets are clearly in a "risk-off" posture at this hour. Early in Europe, yields in prime fixed income markets are mostly lower, but only slightly so. Equities are mostly lower following the weakness late Tuesday in the U.S. Far East markets ended weaker. U.S. S&P futures are up slightly. The peripheral European bond yields are lower. The U.S. 10-yr is 2.58% +2bp.

The heat map color scheme of interest rates reflect yields. This aligns all the colors in the chart to reflect risk-on (green)
and risk-off (red).

Saar KaL 08:56 GMT May 7, 2014
Day's Trades

NDX A Buy here till 3620

out of cable shorts will short 1.7030 and above
out EURUSD Shorts

Longing only NDX NZDCAD and USDJPY
USDJPY tgt 102.2
NZDCAD 96

Syd 08:37 GMT May 7, 2014
New Zealand Dollar Falls After Central Bank Talk of Intervention
Reply   


WELLINGTON, New Zealand--The New Zealand dollar fell Wednesday after the country's central bank said it may intervene to weaken it, but the bank's plan to continue raising interest rates will make engineering a decline in the currency a challenge over the long term.

Reserve Bank of New Zealand Governor Graeme Wheeler said the central bank may need to take action to weaken the currency, among the world's best-performing major currencies this year, to prevent its strength from choking off exports ranging from fruit to wine.

"If the currency remains high in the face of worsening fundamentals, such as a continued weakening in export prices, it would become more opportune for the Reserve Bank to intervene in the currency market to sell New Zealand dollars," he told a conference of dairy farmers.

The New Zealand dollar, known as the kiwi, dropped nearly half a cent against the U.S. dollar following his comments, to US$0.8702.

Keith Poore, head of investment strategy for AMP Capital New Zealand, which has more than 18.0 billion New Zealand dollars (US$15.6 billion) under management in the country, said Mr. Wheeler's comments added to rising risks facing the kiwi in the near term. Those risks include falling prices of milk, New Zealand's biggest export.

"At the current level there is definitely reason for the kiwi to move lower," said Mr. Poore, who has been a seller of the currency for the past month.

Still, the kiwi remains up nearly 4% this year against a basket of currencies that includes the U.S. dollar and British pound, partly due to record-high terms of trade as the New Zealand's agriculture-rich economy feeds Asia's growing appetite for dairy products. New Zealand's central bank has called it unsustainably high at current levels.

The New Zealand dollar has risen 1.0% over the same period against its counterpart in Australia, which was New Zealand's main trading partner until it was recently overtaken by China.

Further fueling the recent rally was the central bank's interest-rate increases in March and April, which were intended to tame inflation and cool a real-estate market at risk of overheating. The benchmark interest rate now stands at 3.0%, much higher than in other developed economies.

The interest-rate differential with neighboring Australia is particularly seen as bullish for the kiwi. On Tuesday, Australia's central bank held its policy rate at a record-low 2.5% for the eighth meeting in a row and signaled it would keep it at that level for some time to stoke an economy struggling with a fading mining boom.

New Zealand's central bank, meanwhile, has said it plans to raise interest rates by around two percentage points in the current tightening cycle, which it expects to last at least two years. Given that plan, any attempts at intervening to weaken the kiwi will have limited success, said ASB Economist Nick Tuffley.

Fergus McDonald, head of bonds and currencies for Tyndall Investment Management New Zealand LTD, which has around NZ$3.5 billion under management in New Zealand, also expects the kiwi to remain firm.

"If the RBNZ sticks to its guns and puts up interest rates and the rest of the world doesn't, it will continue to support the kiwi," he said.

New Zealand policy makers have acted to weaken the currency previously. In late 2012 and early 2013 the central bank sold the currency for the first time in nearly four years. The amount, however, was limited and prompted criticism that the central bank had misled markets over the extent of the intervention in an effort to "talk" the currency lower.

The central bank's latest talk of intervention also may reflect frustration at the currency's continued strength in the face of falling prices of dairy products, which account for around a third of exports. Milk prices fell a further 1.1% in the GlobalDairyTrade Auction overnight on Tuesday, bringing the total decline since mid-February to 23%.

In any case, David Croy, ANZ Bank's head of global markets research for New Zealand, said the central bank was unlikely to intervene quickly because there is no guarantee such a move would weaken the kiwi significantly.

Instead, Mr. Croy interpreted Mr. Wheeler's comments as a warning. They are a "reminder that the economy will start to come under pressure if commodity prices weaken further and the New Zealand dollar doesn't respond," he said.

New York USA 08:37 GMT May 7, 2014
EUR/USD Trend For Today
Reply   
EUR/USD surged on Tuesday, violating the hurdle of 1.3900 and reaching 1.3950. In my view, the violation of the 1.3900 barrier changes the short-term outlook from neutral to positive and I would expect buyers to challenge the 13th of March highs at 1.3965 (R1). A decisive break above that resistance may see the 1.4000 (R2) critical bar. Nonetheless, considering that the RSI exited its overbought zone I would expect some further consolidation or a pullback before the development of further advance.
• Support: 1.3900-1.3815-1.3790
• Resistance: 1.3965-1.4000-1.4100

dc CB 08:34 GMT May 7, 2014
Hillary going to be in a bit of strife running for office ahahaha

Just in time to diverge the attention away from

Bill and his Banker buddies who Bent over the entire Middle Class to "enjoy" a right good reaming and not in the mouth

Ya it's all on the Monica BJ....Hillary cause of her "pain" should be the Next Prestitute.

dc CB 08:12 GMT May 7, 2014
Oh Noooooooo
Reply   


Bacon
Pigs are almost Human

Now they cost more?

that BLT and more OMG

Saar KaL 08:11 GMT May 7, 2014
Day's Trades

Recommended Longs today USDJPY and NZDCAD

Hong Kong AceTrader 07:44 GMT May 7, 2014
AceTrader May 7: Daily Outlook on Asian Exotic USD/IDR
Reply   
USD/IDR DAILY OUTLOOK - 11560
07 May 2014 07:01GMT

Dlr's intra-day strg rebound signals 1st leg of
decline fm Apr's 11665 top has ended y'day at 11500
n 'choppy' sideways trading is in store.

Abv 11585 wud bring further gain to 11615/25 n
only below 11500 extend decline twd 114600 next wk.

STRATEGY : Stand aside

RES : 11585/11625/11665

SUP : 11500/11460/11410

Syd 07:10 GMT May 7, 2014
JPY Gains As Nikkei Tumbles, Intervention Talk Hits NZD - -- Market Talk
Reply   
The USD stabilized against the majors overnight after Tuesday's trouncing, although there were a couple of standout currency moves. Kiwi took a hit after RBNZ Governor threatened intervention if it remained strong, while JPY pushed higher as the Nikkei sank nearly 3% and the US 10-year yield eased further. Up ahead Fed Chair Janet Yellen speaks before Congress (1400 GMT) with a Q&A session afterwards. Europe is devoid of data, already out German March factory orders fell 2.8% on the month against an expected 0.2% rise, EUR/USD slipped to a fresh day low of 1.3915 shortly afterwards. French March industrial production came in at -0.7% against +0.3% expected

HK [email protected] 06:40 GMT May 7, 2014
AN EYE FOR AN EYE!!!
Reply   


Russia demands $3.8bn security deposit from Visa and Mastercard

Kremlin imposes unprecedented requirements on global payment systems operating in Russia in response to US sanctions

The law, signed by Vladimir Putin, was spurred by Visa and Mastercard’s decision on 21 March to stop servicing payments for clients of Rossiya Bank. Photograph: Ria Novosti/Reuters


International credit card companies face a "severe impact" on their operations in Russia following a strict new law Moscow has adopted in response to Visa and Mastercard freezing service to banks under US sanctions.

Visa described the regulations as "unprecedented" and Mastercard said it could experience difficulties, the Russian magazine Snob reported, after Vladimir Putin signed a law on Monday to create a rival national payment system.

The law stipulates the creation of a homegrown system to facilitate cashless transactions by 1 July, but also imposes stiff new requirements on international payment systems operating in Russia

MORE

Saar KaL 06:34 GMT May 7, 2014
Day's Trades

this EURUSD 1.3810 Might be bullish
till US 1.3950 area

Saar KaL 06:32 GMT May 7, 2014
Day's Trades

Out of GBPNZD Longs
Out of EURUSD Shorts

will shorts Later

Saar KaL 05:38 GMT May 7, 2014
Day's Trades

still shorting Eurusd
1.3929
will hold
into US Session
1.3858 tgt seem ok

GVI Forex Blog 04:01 GMT May 7, 2014 Reply   
(CN) CHINA SERVICES APR PMI SERVICES: 51.4 V 51.9 PRIOR; COMPOSITE PMI: 49.5 (3rd consecutive contraction) V 49.3 PRIOR - (AU) AUSTRALIA MAR RETAIL SALES M/M: 0.1% V 0.4%E (8-month low), Q1 RETAIL SAL

TradeTheNews.com Asian Market Update: RBNZ Gov Wheeler talks down NZD; Australia retail sales growth slows; Alibaba files IPO - Source TradeTheNews.com

Syd 03:52 GMT May 7, 2014
Hillary going to be in a bit of strife running for office ahahaha
Reply   
Monica Lewinsky Writes About Her Affair with President Clinton

My fellow Americans, I'm afraid I have not been completely honest with you. I did gigoogity that girl. I gashmogidied her gaphlamities with my googus. And I am sorry. 
http://www.youtube.com/watch?v=KiIP_KDQmXs

Link

GVI Forex Blog 03:31 GMT May 7, 2014 Reply   
A stronger Yen and a sharp fall in the tech stocks in US has unnerved the Asian markets this

Morning Briefing : 07-May-2014 -0330 GMT

Hong Kong AceTrader 03:03 GMT May 7, 2014
Acetraderfx May 7: Daily Recommendations on Major USD/JPY
Reply   
DAILY OUTLOOK ON USD/JPY - 101.75

Update Time: 07 May 2014 00:02 GMT

Yesterday's sell off below Monday's low at 101.86 to 101. 50 suggests erratic decline from Apr's high at 104.13 has possibly resumed n a re-test of Apr's low at 101.32 is envisaged.

Below would extend weakness to 101.00 but key daily sup at 100.76 (Feb) would hold.

Sell on pull back with stop as indicated and only above yesterday's 102.19 high would risk gain to 102.56.

Syd 02:49 GMT May 7, 2014
Household debt the big threat to Australian economy
Reply   
Household debt dwarfs government debt

One economist who is prepared to say whether that is sustainable is Steve Keen.

He says rising private debt is a much bigger problem than yearly government deficits and overall government debt.

"Government debt is trivial in this country. It's of the order of 12 to 14 per cent of GDP in net terms, whereas household debt is of the order of 100 per cent of GDP," he observed.

"Now that interest rates have been dropped as low as they have by the RBA (Reserve Bank of Australia), household speculators are diving into the mortgage market once more and driving up household debt levels

Risky home lending on the rise Consumer group Choice says the slow growth in total lending seems to be driving financial institutions into riskier lending practices. In particular, Choice is warning consumers to be wary of three particular practices it says are on the rise: low-deposit loans, family guarantees and 40-year loans.

Syd 02:46 GMT May 7, 2014
Australian household debt hits 25-year high
Reply   


The debate around the proposed deficit levy has so far focussed on economic impact of the Government's debt burden. But economists are warning there is a bigger threat to the country's future: the unrelenting growth in household debt. Figures realsed today show Australians owe $1.8 trillion to banks and other lenders. Adjusted for inflation, that is the highest level in 25 years and the equivalent of almost $79,000 per person.

Link

Syd 02:36 GMT May 7, 2014
Australian March Retail Sales Miss Consensus
Reply   
SYDNEY--Australian retail sales were weaker than expected in March, dealing a blow to the central bank's hopes that nonmining sectors would respond to record-low interest rates and lead an economic revival.

Retail sales rose 0.1% in March from a month earlier, the Australian Bureau of Statistics said Wednesday, compared with a 0.4% rise expected by economists. Sales for February were upwardly revised to 0.3% from 0.2% when the figures were first released.

Retail sales for the March quarter rose 1.2% versus an expected 1.5% rise.

Australia's central bank has held interest rates at 2.5%--lower even than in the depths of the global financial crisis--since last August, seeking to stoke domestic sectors of the economy such as retail sales as a mining boom that has powered growth for over a decade slows.

But so far the recovery has been patchy, led by a surge in house prices, while businesses and consumers remain reluctant to spend.

GVI Forex 01:52 GMT May 7, 2014
Australia
Reply   
NEWS: AUSTRALIA MAR RETAIL SALES +0.1% M/M; MNI MEDIAN +0.3% AUSTRALIA Q1 RETAIL SALES VOLUME +1.2% Q/Q; MNI MEDIAN +1.6%

GVI Forex 01:51 GMT May 7, 2014
China PMI
Reply   
NEWS: CHINA APRIL HSBC SERVICE PMI 51.4 VS 51.9 MARCH

Hong Kong AceTrader 01:38 GMT May 7, 2014
Acetraderfx May 7: Intra-Day Market Moving News and Views USD/JPY
Reply   
[B]Intra-Day Market Moving News and Views [/B]

[B]06 May 2014[/B] [I]23:54GMT[/I]

[B]USD/JPY[/B] - 101.71
Bank of Japan April 7-8 minutes stated that "most members agreed BOJ should continue with QE as long as necessary to meet 2% price target; one member said BOJ's easing should be restricted to about 2 years; one member said speculation about protracted QE could lead to economic instability in the medium to long term; one member said corprate profits, employment and income are improving significantly.
Members agreed that consumer spending is resilient, even though there are some fluctuations due to sale tax hike; one member said front-loaded demand before sales tax hike in April was greater than last sales tax hike in 1997; one member said consumer confidence could pick up if exports increase and companies bring forward CAPEX plans; many members said price gains are seen across a wide range of items and not just energy-related goods; one member expressed concern that foreign exchange moves are having more influence on consumer prices; one member said inflation could quicken from April as firms use sales tax hike as opportunity to pass on rising costs."

GVI Forex Blog 01:36 GMT May 7, 2014
Forex News
Reply   
* NZD falls from highs after RBNZ intervention warning * USD breaks decisively lower after weeks of range trading * China services report, Aussie retail sales in focus

FOREX-Kiwi recoils on NZ central bank warning, dollar nurses losses

Syd 01:18 GMT May 7, 2014
ANZ Recommends Buying Kiwi Put Option -
Reply   
The outlook for the New Zealand domestic economy remains extremely solid and shows no signs of slowing, ANZ says. But growth expectations look mature and it is hard to envisage further domestic improvements, the bank says. ANZ also notes markets have remained remarkably complacent about global risks--such as the Chinese economic rebalancing, policy event risks such as the ECB embarking on quantitative easing and European political elections, and global flash points such as events in the Ukraine. ANZ thinks it is prudent to buy protection when others see no need for it. The bank recommends buying a 0.87 strike NZD/USD 3-month at-the-money put option. dj

 




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