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Aud/usdTitle:
Political Disruptions Weigh on Risk Sentiment
USD is trading firmly against the majors (except the JPY) with the Dollar Index advancing to approach the pivotal 80.00 level. With little economic data due out today, the market's focus remains on political developments in Europe and the elevated uncertainty is seeing traders shift away from risky assets and into safe havens. US Treasury yields are lower with the 10-year yield currently around 1.84% and US equities are lower with the DJIA and S&P 500 currently down by -0.60% and -0.68% respectively. The dollar is strongest against the commodity currencies (AUD, NZD, CAD) amid growth concerns and significant technical declines in commodities. Gold (XAU/USD) is currently trading below a long term trendline support which began at the lows in Oct. 2008 and crude oil is currently below its 200- ...
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SunBirdFX Daily Market Analysis : 05/08/2012
www.sunbirdfx.com
Wall Street opened the trading week on mixed territory as Dow closed negative NASDAQ and S&P closed positive. On the beginning of the day it looked like the indices were about to continue the bearish momentum from Friday after sharp declines in Europe and Asia. Eventually, the indices managed to rise and close around Friday's closing levels. The S&P 500 opened the trading session around 1360 points, which is the lower boundary of the channel it is moving through and as we mentioned yesterday, the index might continue stamping between 1360 points and 1400 points for a while.
AUD/USD
The crash of the US futures and the European & Asian markets during yesterday morning caused large gaps in most of the currencies pairs, as the USD strengthened due to these declines. Later, ...
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Technical analysis of the AUD/USD parity on May 8th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has faked yesterday a return above 1.02.
The pair is currently falling on the upper band of its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positions as far as 1.0250 is resistance.
The breakout of 1.0150 will give a new sell signal and open the way towards 1.01.
In case of return above 1.0250, we will wait the breakout of 1.03 to advise long positons.
See the previous analysis of the AUD/USD parity of May 7th, 2012
AUD/USD Analysis
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Greek Elections Lead to Significant Euro Losses
The results of Greek parliamentary elections held over the weekend kept the euro low against virtually all of its main rivals throughout yesterday's trading session. Investor concerns about Greece's new government and how it will act toward tough austerity measures imposed on the country brought the euro down to a 3 ½ year low against the British pound and a three-month low against the US dollar. Turning to today, euro-zone news is once again forecasted to impact the markets. The German Industrial Production figure and a speech from the ECB President have the potential to create significant volatility.
Economic News
USD - USD Takes Slight Losses against Main Currency Rivals
After seeing significant gains when markets opened for the week, the US dollar staged a minor downward correction ...
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Forex Technical Analysis : 05/08/2012
- Forex Technical Analysis : 05/08/2012 -
(Timeframes: 30 minutes)
USD/CAD Technical Analysis
AUD/USD Technical Analysis
NZD/USD Technical Analysis
GBP/USD Technical Analysis
EUR/USD Technical Analysis
GBP/JPY Technical Analysis
EUR/CHF Technical Analysis
EUR/JPY Technical Analysis
EUR/GBP Technical Analysis
USD/CHF Technical Analysis
USD/JPY Technical Analysis
XAU/USD (Gold) Technical Analysis
XAG/USD (Silver) Technical Analysis
Crude Oil Technical Analysis
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Dollar regains its power against major currencies
Today the USD began to incline against major currencies to regain its power after yesterday’s instability when majors inclined to cover the price gap against the dollar, which helped the dollar against majors today.
From another side, the Australian trade balance deficit widens in March for the third consecutive month, negatively affecting its price, especially against the American dollar to be near the lowest in 2012.
AUD/USD pair is being traded near the lowest at 1.0166 from 1.0212 with a high of 1.0215 and currently at 1.0182.
New Zealand’s dollar fell against the American dollar recording a low of 0.7921 from 0.7968 with a high of 0.7968 and currently ia trading at 0.7930.
Japanese yen inclined for the second straight day this week where the pair USD/JPY recorded a high of 80.06 ...
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AUD-USD: After recording a 2012 low, eyes on the trade balance today!
After the AUD/USD pair recorded its lowest level in 2012 at 1.0195, today we are waiting for the trade balance data from the Australian economy during the month of March, which is expected to see a trade deficit of A $ 1300 million, compare to the previous reading which showed a deficit of A $ 480 million.
The trade deficit in Australia has started since January with the start of the year, when the economic indicators started to show a sluggish performance affected by the slowdown of the European region, in addition to the attempts from the Chinese government to cool down the growth pressure in China, which considered number one trade partner of Australia.
There are great opportunities to see an expansion of trade deficit in Australia today, and we are trying to take advantage of this ...
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Daily Forex Spot Contest : 05/08/2012
Winners of the Daily Forex Spot Contest - May 8th, 2012 :
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Aussie Sees Some Improvement
After an interesting weekend, the Aussie is seeing some improvement today as the Down Under currency is seen as a safer bet than European currencies right now. After the elections in France and Greece, many are wondering what’s next for the eurozone, and that is giving the Australian dollar a bit of a boost today.
Aussie is even higher against the US dollar — and there is some risk aversion in the markets as traders wonder what to do next. In Europe, Francois Hollande won the French election, beating out incumbent Nicolas Sarkozy. In Greece, an anti-austerity party did quite well, and it looks as though the new government may not stick to the austerity measures required by the recent bailout. Once again, rumors that Greece could exit the eurozone are circulating.
Interestingly, this is ...
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