Correct Some Of The Yen's

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 ...

Fundamental Analysis EUR "We expect euro-region inflation to normalize in 2013" - Michael Schubert, an economist at Commerzbank AG Inflation in the seventeen nation bloc eased to 2.6 per cent in March from 2.7 per cent the previous month, said the European Union’s statistics office in Luxembourg on Wednesday. USD "Uncertainty about Greece and the effects a potential exit out of the euro would have on Europe, the global economy and the financial system in general is driving investors out of stocks into safe havens" - Markus Huber, head of German sales trading at ETX Capital The Standard & Poor's 500 lost 0.44%, or 5.86 points, to 1,324.80. The Dow Jones Industrial Average declined by 0.26%, or 33.45 points, to 12,598.55. GBP Unemployment figures are a "welcome step in the right ...

Forex News and Events: Expectations are increasing for today’s ECB rate announcement and press conference. It's generally consensus that no major decision on interest rates or change in operations will come out of the ECB's meeting in Barcelona. There is a growing anticipation that Draghi will sound significantly more dovish considering the recent deterioration in Eurozone economic data. Also it has not been disregarded that President Draghi endorsed the theme of encouraging growth within the context of a broader fiscal compact. The market is also buzzing over the change in the meeting's location to in Barcelona this suggested that the ECB want to illustrate the gravity of the facing the EU periphery. FX risk appetite stabilized in the Asian session but only after a very hard day for USD ...

www.sunbirdfx.com The US stock markets continued the bullish rally and the indices looks as if they are one the track back to the annual highs. The investors concentrated on the improving pending home sales data instead of the disappointing continuing jobless claims, as today the focus will be on the annualized GDP. AUD/USD The rising in Wall Street helped weakened the USD against most of the major currencies, although the weakening is not as sharp as the rising of the stocks. The Australian dollar managed to break-through the channel that it has been moving through for several weeks and this might be the opportunity for the AUD to start a strengthening session against the USD. The current resistance is around 1.04 and if the Aussie manages to cross the 50 EMA, it might continue rising ...

The euro gave up its recent gains against the US dollar and Japanese yen yesterday, following a combination of negative euro-zone news which led to an increase in risk aversion. Worse than expected indicators out of both Germany and France, along with political uncertainty following the first round of elections in France was largely to blame for the euro's bearish trend. Today, euro traders will want to pay attention to debt auctions out of Italy and the Netherlands. Positive results from the auctions could help the common currency. Furthermore, the US CB Consumer Confidence and New Home Sales figures are set to generate market volatility when they are released at 14:00 GMT. Economic News USD - Risk Aversion Leads to Bullish Dollar The US dollar saw gains against most of its main ...

Japan's Nikkei share average fell for a third straight session on Friday as investors pocketed gains from the strongest first quarter rally in 24 years, while the market waited on key global events next week for direction. Despite the dip, the Nikkei .N225 ended the quarter up 19.3 percent - its best quarterly performance since the second quarter of 2009 - as robust U.S. economic data and accommodative central bank policies helped drive a global equities rally. Market players said the benchmark had entered a much-needed correction after its surge and was likely to consolidate around current levels ahead of key economic data and events next week. The Nikkei closed down 0.3 percent at 10,083.56, moving further from a one-year closing high of 10,255.15 on Tuesday. "I took some profits on ...

World stocks slipped and core government bonds steadied on Wednesday as investors trimmed positions before the end of a first quarter that has seen abundant central bank liquidity and improving economic data buoy a range of assets. Such shifts were also evident in foreign exchange markets, where the yen's gains against the dollar was accentuated by Japanese exporters' sales of foreign currency before the March 31 end to Japan's fiscal year. While European stocks fought a losing battle to stay in positive territory, futures indicated that U.S. stocks would open higher. With comments this week by Federal Reserve Chairman Ben Bernanke keeping alive speculation about further U.S. monetary stimulus, analysts predicted U.S. data would be a focal point. "The focus remains on growth indicators, ...

A speech by Fed Chairman Ben Bernanke yesterday resulted in the US dollar tumbling throughout the European trading session. The speech, which hinted that the Fed may initiate another round of quantitative easing in the near future, turned the USD bearish against both the euro and Swiss franc. Turning to today, traders will want to pay attention to the US CB Consumer Confidence report, scheduled to be released at 14:00 GMT. A positive figure may help the dollar recoup some of yesterday's losses. Economic News USD - US Consumer Confidence Set to Impact Dollar Signs that the Fed may initiate a new round of quantitative easing sent the dollar tumbling against some of its main currency rivals during yesterday's trading session. Following a speech from Fed Chairman Bernanke, in which he said ...

www.sunbirdfx.com The US stock markets continued the bearish momentum that started on Wednesday and shed 0.7% despite improving unemployment claims. However, the indices reached the break-up levels, which are now supporting the stocks and in order to see additional declines, the S&P will have to break-down the level of 1380 points. USD/JPY The declines in Wall Street and the encouraging economic data supported the USD against the major currencies, except the Japanese Yen. Two weeks ago, we estimated that a strong break-up at 80.0 would take the USD up to 85.0 versus the JPY, and the pair started correcting down after reaching 84.15. The USD might continue rising in the current session but the chances for a bearish correction are getting higher, as stochastic levels indicate for an ...