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Technical analysis of the GBP/JPY pair on July 19th, 2011
Commentary of the GBP/JPY pair :
The pair GBP/JPY continues slowly its bearish movement and the support at 127 has been shyny broken, giving us a new sell signal.
We maintain to trade only short positions as far as 128 is resistance.
The breakout of 126 will give a new sell signal and open the way towards 125.
However, if 128 is broken, we will be neutral between this level and 128.47.
See the previous analysis of the GBP/JPY pair of July 18th, 2011
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Technical analysis of the NZD/USD pair on July 19th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD continues to move between the support at 0.84 and the resistance at 0.85.
We maintain to trade only long positions as far as 0.84 is support.
The breakout of 0.85 will give a new buy signal and open the way towards 0.8550.
However, if 0.84 is broken, we will be neutral between this level and 0.8350.
See the previous analysis of the NZD/USD pair of July 18th, 2011
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Euro falls broadly; markets on edge over debt crisis
(Reuters) - The euro fell broadly on Monday, with a euro zone sovereign debt crisis that looks to be getting worse pushing nervous investors toward perceived safe-havens such as the Swiss franc and yen.
European bank stress test results released on Friday did little to calm jitters, and attention is shifting to the next emergency meeting of EU leaders scheduled for Thursday, when a second bailout package for Greece will be under discussion.
German Chancellor Angela Merkel called on Sunday for private investors to make a major contribution to bailing out Greece. Officials proposed a range of schemes for the European Financial Stability Facility to finance a buy-back or a swap in which private owners of Greek government bonds would accept cuts in the face value of their holdings.
However, ...
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Technical analysis of the NZD/USD pair on July 18th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD continues to move between the support at 0.84 and the resistance at 0.85.
We maintain to trade only long positions as far as 0.84 is support.
The breakout of 0.85 will give a new buy signal and open the way towards 0.8550.
However, if 0.84 is broken, we will be neutral between this level and 0.8350.
See the previous analysis of the NZD/USD pair of July 15th, 2011
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Weekly Economic and Financial Commentary : 17/07/2011
Weekly Economic and Financial Commentary
U.S. Review
Mixed Economic Data Points to Moderate Growth
Retail sales came in slightly higher than expected in June as higher sales at automobile dealers offset reduced spending at gasoline stations. With household budgets stretched thin, discretionary spending in most major categories remained weak.
Inflation measures over the past week indicated that the pace of inflation is slowing; however, core inflation measures are still picking up.
The trade deficit widened in May as crude oil imports jumped on both higher prices and volumes while exports were pulled down by weak industrial supplies demand.
Mixed Economic Data Points to Moderate Growth
It was a mixed week for economic data, with inflation concerns subsiding somewhat and the ...
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The debt crisis still the focus of another week in Europe with rising contagion risk
The debt crisis still the focus of another week in Europe with rising contagion risk and nearing default
The debt crisis continues to expand and the downside pressures are only mounting, the relief comes to stay briefly and the market then is reminded again with the depth of the crisis and starts the pessimistic cycle all over again and that is exactly what is seen in Europe!
Another week has passed and a new one is upon us and the focus remains on the debt-laden nations and the outlook for Greece and actions by policy markers. Investors are coming in terms with the reality of Greek default, yet they are waiting for the right action to STEM the contagion risk once and for all!
This week, we saw the fear spreading to Italy to be the next brick to fall on rising tension between ...
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Technical analysis of the GBP/USD pair on July 15th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD continues its bullish movement after a pullback on 1.61.
We maintain to trade only long positions as far as 1.6034 is support.
The breakout of 1.6250 will give a new buy signal and open the way towards 1.63.
However, if 1.6034 is broken, we will be neutral between this level and 1.5944.
See the previous analysis of the GBP/USD pair of July 14th, 2011
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Dollar Consolidates Losses After Moody's Puts US Rating on Review
The greenback came off of its lows versus the majors a day after Moody's put the US AAA rating on downgrade for a review. This afternoon a slew of US economic data is due out as is additional testimony by Fed Chairman Ben Bernanke. Given the heightened volatility as seen in the first half of the week, the euro's recent gains may be vulnerable.
The dollar extended its potential QE3 induced loss into early Asian trading after Moody's placed the US Aaa bond rating on review for a possible downgrade. The rating agency cited the possibility the debt limit will not be raised in time to prevent a missed payment on US Treasury Bonds. Most expectations are for Republicans and the President to piece together some sort of settlement in time for the August 2nd deadline. In the European session the ...
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Forex - Moody Announcement Puts the Focus Back on the US
Forex News and Events:
There is currently a dizzying array of risk in the system which is making focus complicated and anything but short term positioning difficult. USD came under heavy fire yesterday as Moody’s placed the US’s cherished AAA rating on review for a possible downgrade. Safe-haven trades and commodity traders were the biggest gainers, with the USDCHF dropping to 0.8183. The rating agency cited that the lack of progress in debt ceiling negotiations as a key rational for the review.
The greenback was already on back footing as Bernanke’s Congressional testimony emphasized the uncertain and cautious path of economic growth and markets took the comment as indication that further quantitative easing was still on the table. While these comments reiterated themes that were ...
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