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An Exit Of The RangeTitle:
Technical analysis of the USD/JPY pair on May 17th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continued its correction and is currently moving in a neutral zone between 80.95 (level 50%) and 81.50. We advise to wait an exit of this range to take position:
- Long if 81.50 is broken. The breakout of 82.03 (level 38.20%) will give a new buy signal
- Short if 80.95 is broken. The breakout of 80.50 will give a new sell signal.
See the previous analysis of the USD/JPY pair of May 16th, 2011
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Forex - Weekends Headlines Sink EURO
Forex News and Events:
EURUSD was weaker at the start of this trading week, as a slew of negative EU headlines and rumors softened risk appetite. EURUSD dropped all the way to 1.4048 before it rallied back to 1.4150, while spot Gold bounced around $1,490oz to $1,500. Asia’s regional indexes were lower across the board, while stock futures are not providing much relief. The latest CFTC data highlighted an interesting fact that short USD positions were still stretched, despite last week's USD buying. With the markets still USD short and the EM, commodity and stock markets rally being primarily funded by USD, further sell off in the assets should lead to potential rapid USD appreciation, a fact not lost on the market.
The largest overhang for risk sentiment is continued speculation ...
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Technical analysis of the NZD/USD pair on May 16th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD made a false breakout of 0.7947 and then took up its bearish movement. Currently, the pair is testing the support at 0.7842. We are neutral on the pair between this level and 0.79. We advise to wait an exit of this range to take position:
- Long if 0.79 is broken. The breakout of 0.7947 will give a new buy signal
- Short if 0.7842 is broken. The breakout of 0.7750 will give a new sell signal.
See the previous analysis of the NZD/USD pair of May 13th, 2011
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Japanese machinery orders positive signal for the beginning of the recovery
After the devastating Japanese crisis that damaged the nation in March, the machinery order rebounded even after plants shutdown along with power shortages and a shortfall in parts supply.
The Japanese machine orders accelerated 2.9% during March, compared with a previous drop by 2.3% in February, much stronger than the expected drop by 10.0%. On the year, orders rose 6.8% compared with the previous reading 7.6%, while forecasts referred to -8.0%.
Today's report confirms that the Japanese economy (which is the world's third largest economy) is for attempting to steady its first step into the recovery. Japanese companies are planning to increase their expansion and their exports by 3.9% in April, and by 2.7% during May after a record decline in March.
At the meantime, Japan's current ...
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Oil slips more than $1 as dollar index climbs
(Reuters) - U.S. oil futures slipped to as low as $98.35 a barrel on Monday as the dollar index rose to a six-week high on worries that Greece may restructure its sovereign debt.
Brent crude for June fell 58 cents to $113.25 a barrel at 0451 GMT. It settled at $113.83 on Friday, rising 3 percent on the week. U.S. oil traded at $98.41 a barrel, down $1.24, after settling at $99.65 a barrel.
The euro, which also dragged down gold and silver, may test pivotal support areas after IMF chief Dominique Strauss-Kahn was charged with sexual assault, increasing uncertainty on aid for Greece and other indebted euro zone countries.
"The euro is coming down day by day and that is impacting oil prices," said Ken Hasegawa, a commodity derivatives manager at Japan's Newedge brokerage. "After the big ...
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US Dollar Opens with Solid Uptick
The US dollar opened this week moderately stronger versus the euro as traders appear to have continued nursing wounds from last week's dizzying session. The result has been for the EUR/USD to come within reach of 1.4050 as of this morning.
Economic News
USD - US Dollar Opens Week Bullish vs. Euro
The US dollar opened this week moderately stronger versus the euro as traders appear to have continued nursing wounds from last week's dizzying session. The result has been for the EUR/USD to come within reach of 1.4050 as of this morning. Against the pound, the greenback held close to 1.6180 after a short downward slide during the early Asian session, though bullishness in Britain has generated pressure beneath the Cable in anticipation of an uptick.
Last week's market data was enough to ...
Title:
Technical analysis of the EUR/CHF pair on May 13th, 2011
Commentary of the EUR/CHF pair:
The pair EUR/CHF continues to move between the support at 1.26 and the resistance at 1.27. Indicators are mitigated.
We stay neutral between 1.26 and 1.27. We advise to wait an exit of this range to take position:
- Long if 1.27 is broken. The breakout of 1.28 will give a new buy signal
- Short if 1.26 is broken. The breakout of 1.25 will give a new sell signal.
See the previous analysis of the EUR/CHF pair of May 12th, 2011
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Wide array of exit options complicates Fed path
(Reuters) - When the Federal Reserve finally decides to begin draining cash from a flush U.S. banking system, policymakers may find themselves armed with more tools than they know what to do with.
In an effort to ensure its unprecedented monetary stimulus during the financial crisis would not create the risk of future inflation, the Fed has developed a broad range of measures to ensure an orderly retreat.
The Fed's exit toolkit is jam-packed with awkwardly-dubbed concoctions like reverse repurchase agreements and term deposits, along with more straightforward companions like asset sales and conventional interest rate hikes.
Even rate increases are more complex than before, since the Fed now has authority to pay interest on bank reserves parked at the central bank. That rate looks to ...
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Japan's current account surplus narrows in March
A report today showed that Japan's current account surplus narrowed in March, more than expectations as the nation's exports were affected by the devastating earthquake that hit the economy on March 11, causing many companies to shut their plants and suspend production.
Japan's current account total slid to 1679.1 billion yen during the month of March, compared with the previous reading of 1641.0 billion yen in February, while the analysts estimated 1750.0 billion yen.
Moreover, Japanese trade balance index for March came out at 240.3 billion yen comparing with a 723.3 billion yen a month earlier, while the actual reading came lower than expectations of 305.0 billion yen.
As for the massive negative results of the earthquake that hit Japanese economy on March 11, the Japanese wages ...
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