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Against The Strengthening Of The YenTitle:
SunBirdFX Daily Market Analysis : 05/21/2012
www.sunbirdfx.com
The bearish momentum in Wall Street continued last week as indices shed 4%-5% during the week. The sharp declines were expected from the technical analysis point of view, since the main indices broke significant support in their daily charts, which we have analyzed and marked as key levels. The S&P 500 broke the support at 1350 points and reached the target we set at 1300 points, mainly because of the collapse of the financial sector. The volumes are increasing, which means that the sellers are gaining power, in spite improving economic data and the optimism that spread with Facebook trading on Friday. The three main indices are close to the annual opening levels as NASDAQ's next support is at 2400 points.
EUR/USD
We have been mentioning the support at 1.30 as a ...
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SunBirdFX Daily Market Analysis : 05/17/2012
www.sunbirdfx.com
The US stock markets opened yesterday's trading session with a strong push by the bulls but the concerns regarding Greece pulled the markets to the red zone eventually. The main indices erased 40%-50% of what they gained from the beginning of the year, and things are looking more and more bearish as the days pass by.
AUD/JPY
The Australian dollar keeps falling against the USD and it slid under the psychological support at 1.0. The weakening of the stocks supports the USD and that is why we see it strengthening against most of the major currencies, including the JPY, which is a strong currency these days. The Yen is clearly stronger than the AUD, as it well shown in the daily chart of the pair, which is getting support at 79.50. If the AUD crosses above the 2-days ...
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Japan’s economy expand more than expected in first quarter
Japanese economy grew more than expected during the first quarter, where Japan’s GDP showed unexpected growth supported by the reconstruction from last year’s earthquake that boosted public investment as well as consumer spending.
Japan’s GDP grew more than expected during the first quarter of year, where it recorded actual of 1.0% compared with a previous of -0.2% revised to 0.0%, while the expectations were 0.9%.
While annualized GDP in first quarter inclined actual of 4.1% compared with a previous of -0.7% revised to 0.1%, while expectations were 3.5%.
The strength of Japanese yen against the dollar since March may increase pressure on monetary policy makers of the Bank of Japan to add stimulus especially after the unexpected growth that the nation is witnessing.
Yesterday, Japan’s ...
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SunBirdFX Daily Market Analysis : 05/16/2012
www.sunbirdfx.com
Another day of uncertainty went through Wall Street, as the investors were disappointed by the core retail sales, but encouraged by the Empire State Manufacturing Index. Today they will focus on the FOMC meeting minutes and building permits, as bad news might cause sharper declines. We keep seeing bullish reversals during the trading session, which means that there are buyers who want to take advantage of the recent declines, which might cause a bullish reversal eventually. However, it seems that a break-down of the current week's low will make everybody believe that a downtrend movement has begun.
USD/JPY
The USD reached the support at 79.50 against the JPY, which was a former break-up area. The Yen has failed to break-down this support for several days and ...
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Dukascopy Morning Forex Overview : 08/05/2012
Fundamental Analysis
EUR
" show that despite the crisis in the euro area, Germany is growing and benefiting from a revival in international trade."
- Klaus Baader, senior economist at Societe Generale SA
German factory orders rose by more than forecast in March, a sign Europe’s largest economy is weathering the debt crisis.
USD
"From where we sit right now, we think the economy looks fundamentally stronger."
- Marisa Di Natale, an economist at Moody’s Analytics in West Chester
U.S. stocks closed mixed on Monday after Francois Hollande was elected as a French president and Greek voters turned to antibailout parties.
GBP
"… the challenging economic backdrop suggests that a significant acceleration in prices or activity is unlikely in the near term."
- Robert Gardner, Nationwide’s ...
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SunBirdFX Daily Market Analysis : 05/07/2012
www.sunbirdfx.com
Wall Street closed the trading week with sharp declines on the background of disappointing Non-farm payroll change, as we estimated after the release of the prior data by the ADP last Wednesday. About 80% of the large 500 companies reported better than expected results for the first quarter of 2012, but the negative atmosphere took over Wall Street on the second part of last week. The investors also ignored the improving unemployment rate that went down from 8.2% to 8.1%.
On the technical aspect, things look less dramatic for the US indices. Dow Jones reached new highs during last week as NASDAQ and S&P 500 did not make any significant change during the recent four weeks, in spite of the high volatility. We mentioned that the S&P 500 had to successfully break-through ...
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SunBirdFX Daily Market Analysis : 05/02/2012
www.sunbirdfx.com
The US stock markets closed yesterday on the green territory as the investors were encouraged by the better-than expected ISM manufacturing data. Dow Jones crossed above the annual highs, but eventually closed under 13300 points after weak finish by NASDAQ that pulled the markets lower.
NZD/USD
The Kiwi has been moving in a triangle against the USD and its looks like it is about to chose the direction soon. Two weeks ago, the NZD broke through the upper hedge, in what looked like the final battle between the buyers and the sellers. However, it ended as a false-break and the pair resumed trading between the triangle's boundaries. However, the angle of this pattern is getting sharper, which means that the pressure of the buyers will soon meet with the pressure of the ...
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Dukascopy Morning Forex Overview : 02/05/2012
Fundamental Analysis
EUR
"The likelihood of inflation falling below 2 percent in the short run remains low, putting the ECB in a difficult situation."
- Peter Vanden Houte, an economist at ING
Inflation in the euro zone rose by more than expected in April, mounting pressure on the European Central Bank to take action against price pressures.
USD
"Manufacturing is still in pretty good shape."
- Scott Brown, chief economist at Raymond James & Associates Inc.
Manufacturing in the U.S. expanded in April at the fastest pace in 10 months, showed Institute for Supply Management data on Tuesday.
GBP
"The good news is that manufacturing clocked up a fifth straight rise, whilst cost pressures have eased a little and some firms are still recruiting."
- Lee Hopley, chief economist at EEF
U.K. ...
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Asian Market Update : 02/05/2012
China PMI supports soft landing, USD stronger against the yen and euro
Economic Data
(CN) CHINA APR HSBC MANUFACTURING PMI: 49.3 V 48.3 PRIOR (6th month of contraction)
(JP) JAPAN MAR LABOR CASH EARNINGS Y/Y: 1.3% V 0.2%E (highest since Jul 2010)
(NZ) NEW ZEALAND APR ANZ COMMODITY PRICE: -4.5% V -1.7% PRIOR
(KR) SOUTH KOREA APR HSBC MANUFACTURING PMI: 51.9 V 52.0 PRIOR
(JP) JAPAN APR MONETARY BASE Y/Y: -0.3% V -0.2% PRIOR (2nd consecutive y/y decline)
(TH) THAILAND APR CONSUMER CONFIDENCE ECONOMIC: 67.5 V 66.5 PRIOR
(TW) TAIWAN APR HSBC MANUFACTURING PMI: 51.2 V 54.1 PRIOR
(RU) RUSSIA APR MANUFACTURING PMI: 52.9 V 50.8 PRIOR
(IN) INDIA APR MARKIT MANUFACTURING PMI: 54.9 V 54.7 PRIOR
Markets Snapshot (as of 04:30GMT)
Nikkei225 +0.4%
S&P/ASX +0.2%
Kospi +0.8%
Taiwan Taiex +2.0%
Singapore ...
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