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Aud/usdTitle:
Risk Aversion Boosts the USD, JPY
USD trading broadly higher (except against the JPY) as the Greek political impasse is raises concerns and increases risk aversion. The IMF remained firm saying that Greece must deliver necessary economic reforms and that it is not acceptable for the country to seek laxer loan terms. German officials are speaking out as well calling the latest developments ‘very worrying' and saying that Greeks must decide whether or not they want to stay in the euro. It is another light day for economic data in the US with weekly mortgage applications rising by +1.7% and March wholesale inventories due out at 1000ET. UST yields continues their descent across the curve with the 10-year yield falling below the 1.80% level as a result of both increased risk aversion and increased speculation of QE3. The ...
Title:
Greece retains focus; Aussie continues to weaken
Forex Morning Briefing : Greece retains focus; Aussie continues to weaken
What’s new:
Asia: Asian and US equities remain in negative territory
Greece: Still unable to form a coalition government
Spain: Government expected to unveil banks’ plans on Friday
Forex: AUD/USD approaching parity, fresh 2012 lows
Forex: JPY still attracting support as carry trades unwind
Rates in Asia and Indices:
EUR/USD 1.2965 1.3008 -0.15 %
USD/CHF 0.9234 0.9263 -0.15 %
GBP/USD 1.6129 1.6163 -0.13 %
USD/JPY 79.72 79.94 0.10 %
EUR/CHF 1.2010 1.2013 0.00 %
EUR/JPY 103.4 103.94 0.27 %
Dow Jones 12810.39 13000.73 -0.58 %
Nasdaq 2587.53 ...
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YouTradeFX Daily Market Analysis : 09/05/2012
Fundamental News
Today’s highlights:
· 10-Year Note Auction (U.S., 18:00 GMT)
· Wholesale Inventories (MoM) (U.S., 15:00 GMT)
· Crude Oil Inventories (U.S., 15:30 GMT)
· MBA Mortgage Applications (WoW) (U.S., 12:00 GMT)
Bloomberg News reported that, manufacturers in the U.S. became less- optimistic about 2012 sales growth than at the end of last year, while service companies grew more upbeat, according to a survey by the Institute for Supply Management. Purchasing managers at U.S. factories said they anticipate sales will grow 4.5 percent this year, less than a 5.5 percent December prediction, according to the Tempe, Arizona-based group’s semiannual forecast issued yesterday.
Moody’s Investors Service will this month start cutting the credit ratings of ...
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Slow News Day May Lead to Further Euro Losses
The euro remained relatively unchanged vs. its main rivals throughout the European session yesterday, as political uncertainty in the euro-zone kept the currency near its recent lows. After dropping as low as 1.3000 during early morning trading, the EUR/USD spent most of the day trading around 1.3010. Turning to today, a slow news day may lead to low liquidity in the marketplace. Traders will want to note that a low liquidity environment can often lead to unexpected price shifts for seemingly no reason. Given the euro's recent bearish trend, the possibility for further downward movement for the common currency exists.
Economic News
USD - Dollar Remains Bearish vs. JPY
The US dollar remained below the psychologically significant 80.00 level vs. the Japanese yen throughout yesterday's ...
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Forex Technical Analysis : 05/09/2012
- Forex Technical Analysis : 05/09/2012 -
(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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Technical analysis of the AUD/USD parity on May 9th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has validated the breakout of 1.0150 and 1.01, offering both a new sell signal.
The pair is now back into its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positions as far as 1.0150 is resistance.
The breakout of 1.0050 will give a new sell signal and open the way towards 1.0.
In case of return above 1.0150, we will wait the breakout of 1.02 to advise long positons.
See the previous analysis of the AUD/USD parity of May 8th, 2012
AUD/USD Analysis
Title:
Heavy Euro Selling Pressure As Greece Standoff Continues
U.S. Dollar Trading (USD) the mood soured overnight in the US session and into Wednesday’s Asian session as rhetoric of the Greece far left politicians suggested the recent bailouts may be torn up and Greece forced to exit the Eurozone. The EUR/USD has broken below 1.3000 once again and Gold is falling heavily as USD and cash become king. Looking ahead, FOMC Member Pianalto.
The Euro (EUR) focus has swung back to the Europe and the Greece elections continuing to have negative effects on the market. The Greece political stalemate is unlikely to end shortly and the uncertainty will likely lead to more selling. Major support is seen at 1.2950 and we are poised to test this level this session. The Sterling (GBP) The GBP/USD was sold down to the 1.6125 on the risk aversion but EUR/GBP selling ...
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AUD Drops as Trade Balance Deficit Unexpectedly High
The Australian dollar dropped today, trading near this year’s lows, as a government report showed that the nation’s trade balance deficit in March was bigger than estimated by specialists.
Australia’s trade balance registered a deficit of A$1.587 billion in March, compared to experts’ forecast of A$1.380 billion. The February shortage was revised from A$0.480 billion to A$0.754 billion. The poor data made traders afraid that Australia’s economic growth is losing steam.
The Aussie, together with other growth-related currencies, suffers from the ever-growing concern about the future of Europe. Greek parties were unable to reach agreement and for a new government after the weekend’s election. The political turmoil added to worries that the most-indebted country of the European Union may ...
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Asian Market Update : 09/05/2012
Economic Data
(JP) JAPAN APR OFFICIAL RESERVE ASSETS: $1.29T V $1.28T PRIOR (first increase in 3-months)
(UK) UK APR BRC SALES LIKE-FOR-LIKE Y/Y: -3.3% V 0.6%E
(KR) SOUTH KOREA APR BANK LENDING TO HOUSEHOLDS (KRW): 453.6T V 452.3T PRIOR
(KR) SOUTH KOREA MAR MONEY SUPPLY L Y/Y: 1.8% V 0.3% PRIOR; M2 Y/Y: 0.0% V 0.7% PRIOR
(CO) Colombia Apr Producer Price Index M/M: +0.2% v -0.2% prior; Y/Y: +1.6% v +1.6% prior
Markets Snapshot (as of 04:30GMT)
Nikkei225 -1.6%
S&P/ASX -1.1%
Kospi -1.0%
Taiwan Taiex -0.8%
Singapore Straits Times Index -0.7%
Shanghai Composite -1.3%
Hang Seng -1.0%
Jun S&P Futures -0.1% at 1,352
June gold -0.8% at $1,591/oz
June Crude -0.5% at $96.53
Overview/Top Headlines
Concerns over Greece backing out of its bailout package continue to weigh on the ...
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