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YouTradeFX Daily Market Analysis : 29/01/2013


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#1 ⇑ Haut ⇑ 29-01-2013 13:33:42

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YouTradeFX Daily Market Analysis : 29/01/2013

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Today’s highlights:

·         GfK German Consumer Climate (Ger, 07:00 GMT)
·         CB Consumer Confidence (U.S, 15:00 GMT)

Orders for durable goods in the U.S. rose in December for an unprecedented fourth consecutive month, indicating manufacturing will keep improving in 2013. Bookings for goods meant to last at least three years advanced 4.6 percent, exceeding the highest forecast of economists surveyed by Bloomberg, after a 0.7 percent gain in November, a Commerce Department report showed today in Washington. On the other hand, Sales of existing homes unexpectedly dropped in December, restrained by the lowest supply of properties in more than a decade, the Realtors group reported last week. Purchases fell 1 percent to a 4.94 million annual rate last month.

An article publish by Bloomberg News stated that European Central Bank policy makers rejected an Irish government plan designed to fund the rescue of the former Anglo Irish Bank Corp. for at least 15 years, according to three people with knowledge of the discussions. Under the proposal, the Irish central bank would have signed a contract guaranteeing to hold for at least a decade and a half a long-term bond issued to replace about 30 billion euros ($40.4 billion) of so-called promissory notes used to rescue the lender in 2010, according to the people, who declined to be identified because the talks are private. The Irish government is trying to refinance the rescue of Anglo Irish to ease funding pressure on the state over the next decade. Policy makers prefer the government to take another loan from the European Stability Mechanism or raise the money in financial markets, two of the people said.


EUR/USD
EUR/USD: The EUR/USD was trading flat at 1.34507 at the time of writing as market participants jumped on the sidelines ahead of the GfK German Consumer Climate and the CB Consumer Confidence in the U.S.  The GfK SE (GFK) due today may indicate a rebound in confidence about the euro area’s biggest economy. The market research company’s consumer-sentiment index will probably climb to 5.7 in February, economists polled by Bloomberg said, after it dropped to 5.6 this month. While, a report today forecast to show confidence among U.S. consumers sentiment fell to 64 from a 65.1 reading in December, according to the median forecast of economists surveyed by Bloomberg News. Market sentiments remain fragile and mixed on the pair ahead of the Federal Reserve's Wednesday decision on interest rates and monetary policy as investors pared bets the Federal Reserve will signal a change to its asset-buying program at the end of a two-day meeting tomorrow. While the Euro-area jobless data this week will expose the social cost of last year’s debt crisis and recession on southern European economies as unemployment across the region probably rose to a record in December. Investors should remain cautious and adopt a wait and see strategy on the pair. The resistance level is at 1.34830 and the support level is at 1.33866.

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AUD/USD
AUD/USD: The AUD/USD was trading higher at 1.04502 at the time of writing after Australia’s bonds fell, boosting the benchmark 10-year yield to the highest level since August, after data showed the nation’s business confidence for December rebounded by the most in more than a decade. Market sentiment remains slightly bullish on the pair today ahead of the GfK German Consumer Climate and the CB Consumer Confidence in the U.S. The GfK SE (GFK) due today may indicate a rebound in confidence about the euro area’s biggest economy, while the U.S. consumers sentiment may fall to 64 from a 65.1 reading in December, according to the median forecast of economists surveyed by Bloomberg News. Investors should be very prudent on the pair. On Wednesday, the Federal Reserve will announce its decision on interest rates and monetary policy. The resistance level is at 1.04669 and the support level is at 1.04025.

http://www.forex-tribe.com/img_vrac_en4/12975c810f3991672558d321bc0b93da.jpg


OIL
OIL: Gold was trading higher at 1661.42 at the time of writing pair ahead of the Federal Reserve's Wednesday decision on interest rates and monetary policy. Events likely to bring some fluctuations on the commodity are the GfK German Consumer Climate and the CB Consumer Confidence in the U.S.  The GfK SE (GFK) due today may indicate a rebound in confidence about the euro area’s biggest economy. The market research company’s consumer-sentiment index will probably climb to 5.7 in February, economists polled by Bloomberg said, after it dropped to 5.6 this month. While, a report today forecast to show confidence among U.S. consumers sentiment fell to 64 from a 65.1 reading in December, according to the median forecast of economists surveyed by Bloomberg News. A wait and see approach will be good strategy on the yellow metal. The resistance level is at 1671.98 and the support level is at 1651.62.

http://www.forex-tribe.com/img_vrac_en4/b9d9ec8d32e994a2d6d992d57648c875.jpg




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