Browsing all articles from July, 2012
Jul
31

EUR/USD; All green for the Dollar

 

The EUR/USD pair erased all its losses yesterday as the markets remained unchanged today. The Asian stocks closed higher as optimism about the FEDs and ECB to announce stimulus soon.  With the US monitory policy decision tomorrow US stocks trimmed its advances. A long list of data released from the states today. Personal Income increased in Jun exceeded expectation to 0.5% from 0.3% where as the market had expected a 0.4% figure. Core Personal Consumption Expenditure – Price Index a leading indicator for inflation was released today for June at 0.2% which was also market expectation to a previous of 0.1%. Core Personal Consumption Expenditure – Prices Index (YOY) remained unchanged at 1.8%. Personal Consumption Expenditure – Price Index (YOY) released by the commerce department also a leading indicator for inflation remained par at 1.5%.Another interesting indicator in today’s list was the S&P/Case-Shiller Home Price Indices (YoY) from May to May was released at -0.7 better than expected at -1.5 but still better than the previous figure of -1.9%. Chicago Purchasing Managers’ Index was released at 53.7 a significantly better than expected data which was expected at 52.4 but in the midst of all the sweet data for the dollar another trigger in the market news was the Consumer Confidence for July. The consumer confidence also showed a improvement from 62.7 to 65.9 where as expectation was at 61.5. Released by the Conference Board it plays a significant role in the deciding the confidence of consumers which has indeed risen after hopes of getting better employment market in the future.

 

Written by Maju

Jul
31

USD/JPY D1 Technical July 31

On daily chart USD/JPY remains on the downside and have support at 77.94, break of support will send the cable to 75.50 support zone. As the pair is trading in bearish channel to we recommend sell deals, break of channel is bullish but will be remain caped till 79.13. CB Consumer Confidence can affect the rate of pair.

Jul
31

USD/CHF D1 Technical July 31

Intraday outlook of  USD/CHF remains neutral. A short term top is at least formed at 0.9971. Below 0.9694 will target 38.2% retracement of 0.8930 to 0.9971 at 0.9573 first. Break will have further bearish implication and target 0.9420 key near term support level. CB Consumer Confidence can affect the rate of pair.

Jul
31

USD/CAD D1 Technical July 31

USD/CAD remains on downside in daily chart and will face resistance at 1.0044 and support at 1.0006, break and closure above the resistance will give some strength to the cable and it should target 1.0200 and 1.0298, closure below the support is strongly bearish. CB Consumer Confidence can affect the rate of pair.

Jul
31

GBP/USD D1 Technical July 31

On daily chart GBP/USD has a support and resistance at 1.5660 and 1.5714 and its outlook according to technical indicators is neutral, break of the resistance will give some bullish strength to the pair and the cable should target 1.5901/6 which is 61.8 % of Fibonacci retracement of the fall from 1.6303-1.5268. CB Consumer Confidence can affect the rate of pair.

Jul
31

EUR/USD D1 Technical July 31

On daily chart EUR/USD has a support and resistance at 1.2243 and 1.2314, if the cable manages to close above the resistance this will indicate considerable bullish strength, the cable is following Line A and Line B, we recommend buy deals as the cable reaches the Line B and sell deals as the cable reaches Line A, closure below the support is bearish. CB Consumer Confidence can affect the rate of pair.

Jul
30

EUR/USD: ECB vs FEDs July 30th

 

The EUR/USD pair has traded lower since the opening of trade. Asian stocks rose 1.1 percent today while the European stocks also remained to the upside.Oil rose as hopes of Europe being saved by policy makers gave a boost to the stocks. However the pair started the week with 1.2300 areas and shortly fell below this mark and remained below this mark in both the Asian and the European trades. Mixed data was seen for the currency in the session as leading indicators crossed the board. The EUR Consumer confidence came at -21.5 to a previous of -19.8 with markets expectation -21.6. The better than previous consumer confidence gave a slight signal of the EU economy recovery but on the other hand a weak Industrial confidence of -15 was recorded to a previous of -12.8 where as the market had expected to see a figure of -14. Economic Sentiment Indicator and Business Climate both also came out weaker than the expectation of the market at 87.9 and -1.27 to a previous of 89.9 and -0.95 respectably. The Italian 10-y Bond Auction decreased to 5.96% from 6.19%.

Other news from the region was the opposition of Germany against the decision of the ECB to buy bond buying measures and the news hitting the wires that the feds maybe considering another round of interest rate cutting after the ECB makes its moves. The pair should remain to the low side as the not much data being released from the US today and the focus of the market remains on the European news and data.

Jul
30

USD/CHF D1 Technical July 30

On daily chart USD/CHF remains on the downside for the moment. A short term top is at least formed at 0.9971. Deeper fall should be seen back to 38.2% retracement of 0.8930 to 0.9971 at 0.9599 first. Break will have further bearish implication and target 0.9420 key near term support level.Macd and Stoch are showing sell signals in 4 hr chart.

Jul
30

USD/JPY D1 Technical July 30

USD/JPY has a support at 78.02 and resistance at 78.53,if the cable manges to break the bearish channel and close above 78.53 the next target will be 79.14 from which the cable will again start its fall. Below 77.94 should send USD/JPY through 77.66 low to 75.56/76.02 support zone.

Jul
30

USD/CAD D1 Technical July 30

On daily chart USD/CAD remain on the downside and will have a support at 1.004 which if breaks confirms that the cable should test 0.9799 low while on the upside break of 1.0231 resistance is needed to indicate near term reversal. Otherwise, outlook will remain mildly bearish.