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SunBirdFX Daily Market Analysis : 05/22/2012
www.sunbirdfx.com
Wall Street opened the trading week with the expected short-squeeze that launched NASDAQ 2.4%, mainly because of Apple. The short-positions holders decided to realize their investments and take profits, as the buyers took advantage of that for gaining profits by opening long positions. This momentum might continue in the next few days, and in this point, it is important to remember that the previous bearish session ended with a sharp bullish day, and this might be the signal for this possible turnover. However, it is too soon to know whether the stocks have stopped falling or not and we need to wait few more days.
AUD/USD
The recovery of the US stock markets weakened the USD against most of the currencies, which might start a correcting session against the USD. The ...
Title:
Euro rebound stalls, focus shifts to EU summit
(Reuters) - The euro's rebound from four-month lows stalled on Tuesday, failing to break above technical resistance, though traders said selling could be limited at least until an informal meeting of European leaders this week.
Traders have been reducing their massive bets against the common currency in the past couple of days, taking note of prospects - however slender - that EU leaders may agree measures to bolster investor confidence in the euro zone on Wednesday.
With speculators' short positions on the euro at a record high, traders were wary of the potential for short-squeeze, despite worries about stability of the banking system in Spain and political gridlock in Greece.
"If someone is selling the euro now, I would rather use that as a chance to take profits (from euro short ...
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SunBirdFX Daily Market Analysis : 05/17/2012
www.sunbirdfx.com
The US stock markets opened yesterday's trading session with a strong push by the bulls but the concerns regarding Greece pulled the markets to the red zone eventually. The main indices erased 40%-50% of what they gained from the beginning of the year, and things are looking more and more bearish as the days pass by.
AUD/JPY
The Australian dollar keeps falling against the USD and it slid under the psychological support at 1.0. The weakening of the stocks supports the USD and that is why we see it strengthening against most of the major currencies, including the JPY, which is a strong currency these days. The Yen is clearly stronger than the AUD, as it well shown in the daily chart of the pair, which is getting support at 79.50. If the AUD crosses above the 2-days ...
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U.S. stocks rise on data, euro turns on Greek hope
The euro pared losses and bond prices slid on Wednesday after comments by German Chancellor Angela Merkel bolstered hopes that Greece would remain in the euro zone, while U.S. stocks rose on encouraging U.S. economic data.
U.S. industrial production posted its fastest growth in over a year in April and a rebound in groundbreaking for new U.S. homes last month suggested a recovery in U.S. housing was gaining some traction, bolstering U.S. investor sentiment that has been heavily hit by news about Greece.
Industrial output grew 1.1 percent, the most since December 2010 and nearly twice the pace expected by analysts polled by Reuters. Housing starts increased 2.6 percent to a seasonally adjusted annual rate of 717,000 units, while March's starts were revised upward.
"Nice to see some ...
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Wall Street down for 4th day of five, breaks support
Stocks fell on Monday as investors dealt with the one-two punch of worsening political upheaval in the euro zone and the possibility that China's economy may be softening more than previously thought.
The S&P 500 finished lower for the fourth day of five to close at its lowest level since February, adding fuel to worries of a coming market correction.
Economically sensitive shares, including banks and energy companies, paced the decline. Exxon Mobil Corp (XOM.N) lost 1.2 percent to $82.12. The NYSEArca oil index .XOI fell 1.8 percent.
State television in Greece reported the president of the fiscally beleaguered country will continue talks on forming a coalition government, although Socialist leader Evangelos Venizelos said on Monday he was not optimistic that a government could be ...
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Dukascopy Morning Forex Overview : 11/05/2012
Fundamental Analysis
EUR
"The overall manufacturing trend remains weak."
- Pierre-Olivier Beffy, chief economist at Exane BNP Paribas
French industrial production fell in March, said the national statistics office Insee on Thursday. Output contracted 0.9 per cent from February, when it gained 0.2 per cent.
USD
"It’s hard to get nervous that imports are rising."
- Dean Maki, chief U.S. economist at Barclays Capital Inc.
The number of Americans claiming for unemployment benefits fell to 367,000 in the week ended May 5 from 368,000 the week before, said the Department of Labor on Thursday.
GBP
"Our forecast is that they are done with QE, but you can’t rule out more later this year."
- Ross Walker, an economist at Royal Bank of Scotland Group Plc
The Bank of England kept rates on hold ...
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US Dollar Pulls Back as Risk Appetite Makes an Appearance
After a few days of gloom over Europe, risk appetite is making an appearance in the financial markets. US dollar is pulling back from recent highs against the euro and the pound, and heading lower as Forex traders look for a little extra yield, and as a degree of optimism is seen as moves are made to shore up Spain.
US dollar was headed higher today, moving up as news about Great Britain’s economy disappointed. However, the Bank of England put quantitative easing on hold, and it appears that the body is prepared to maintain that position. So, even with the British economy in recession, the pound is getting a slight boost against the US dollar.
Against the euro, greenback reached a three-month high. Uncertainty about Greece continues, and worries about the relationship between France and ...
Title:
Dukascopy Morning Forex Overview : 09/05/2012
Fundamental Analysis
EUR
"The debt crisis damps demand for German products in Europe but Russia, China, India, Brazil and South Africa should generally be able to compensate declining sales."
- Gerd Hassel, an economist at BHF Bank AG
German industrial production unexpectedly soared in March, adding to signs the euro zone’s largest economy is weathering debt crisis. Production jumped 2.8 per cent from February, when it declined 0.2 per cent, said the Economy Ministry on Tuesday.
USD
"People are preparing for a shock that may or may not occur."
- Michael Holland, chairman and founder of New York-based Holland & Co.
U.S. stocks fell on Tuesday as Greece’s bailout pledge came into question.
GBP
"The health of the housing market is a reverberation of consumer confidence and credit ...
Title:
SunBirdFX Daily Market Analysis : 05/07/2012
www.sunbirdfx.com
Wall Street closed the trading week with sharp declines on the background of disappointing Non-farm payroll change, as we estimated after the release of the prior data by the ADP last Wednesday. About 80% of the large 500 companies reported better than expected results for the first quarter of 2012, but the negative atmosphere took over Wall Street on the second part of last week. The investors also ignored the improving unemployment rate that went down from 8.2% to 8.1%.
On the technical aspect, things look less dramatic for the US indices. Dow Jones reached new highs during last week as NASDAQ and S&P 500 did not make any significant change during the recent four weeks, in spite of the high volatility. We mentioned that the S&P 500 had to successfully break-through ...
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