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Eur/jpyTitle:
Low US growth pushes for QE3, but what about inflation?
Forex Morning Briefing : Low US growth pushes for QE3, but what about inflation?
What’s new:
Asia: Outlook for lower rates in Australia takes risk higher across the board.
Europe: Good Italian bond auction calmed markets post Spanish downgrades.
US: Q1 GDP missed expectations, but stocks closed the week on a positive note.
Rates in Asia and Indices:
EUR/USD 1.3229 1.3268 -0.02 %
USD/CHF 0.9056 0.9079 -0.02 %
GBP/USD 1.6264 1.6297 0.11 %
USD/JPY 80.08 80.39 0.16 %
EUR/CHF 1.2000 1.2052 0.01 %
EUR/JPY 106.05 106.44 0.19 %
Dow Jones 13192.21 13266.68 0.17 %
Nasdaq 2723.16 2750.5 0.59 %
S&P 500 1397.31 1406.64 0.24 %
Nikkei 225 9463.6 9691.7 -0.42 %
Shanghai 2393.867 2408. ...
Title:
Dollar Tumbles Following Disappointing GDP Figure
A worse than expected Advance GDP figure sent the dollar tumbling to multi-week lows against several of its main currency rivals on Friday. The EUR/USD closed out the week at 1.3249, up close to 100 pips for the day. Against the JPY, the greenback was down 115 pips to finish the day at 80.27. Turning to this week, the US Non-Farm Payrolls figure should be closely watched when it is released on Friday. In addition, Tuesday's US ISM Manufacturing PMI and Wednesday's ADP Non-Farm Employment Change may lead to significant activity in the marketplace. The dollar may extend its losses should any of the indicators come in below expectations.
Economic News
USD - Dollar Volatility Expected Ahead of Non-Farm Report
A disappointing US GDP figure resulted in heavy losses for the dollar to close out ...
Title:
Forex Technical Analysis : 04/30/2012
- Forex Technical Analysis : 04/30/2012 -
(Timeframes: 30 minutes)
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Title:
Technical analysis of the EUR/JPY pair on April 30th, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY found resistance last friday on the fibonacci retracement 38.20% at 107.12.
The pair is currently testing the fibonacci retracement 23.60% at 106.17.
Indicators are globaly bearish.
We are neutral on the pair between 106 and 107.
We advise to wait an exit of this range to take position:
- Long above 107. The breakout of 107.50 and 108 will both give a new buy signal
- Short below 106. The breakout of 105.50 and 105 will both gvie a new sell signal.
See the previous analysis of the EUR/JPY pair of April 26th, 2012
EUR/JPY Analysis
Title:
Asian Market Update : 30/04/2012
Yen at 2-month highs in the wake of disappointing BOJ and sluggish US GDP
Economic Data
(AU) AUSTRALIA MAR PRIVATE SECTOR CREDIT M/M: 0.4% V 0.3%E; Y/Y: 3.4% V 3.2%E
(AU) AUSTRALIA MAR HIA NEW HOME SALES M/M: -9.4% V +3.0% PRIOR (multi-year low)
(AU) AUSTRALIA APR TD SECURITIES INFLATION M/M: 0.3% V 0.5% PRIOR; Y/Y: 1.9% V 1.8% PRIOR
(NZ) NEW ZEALAND MAR BUILDING PERMITS M/M: 19.8% V 6.0%E
(NZ) NEW ZEALAND APR NBNZ ACTIVITY OUTLOOK: 36.1 V 38.8 PRIOR; BUSINESS CONFIDENCE: 35.8 V 33.8 PRIOR (8-month high)
(NZ) NEW ZEALAND MAR TRADE BALANCE (NZ$) 134M V 417ME
(KR) SOUTH KOREA MAR INDUSTRIAL PRODUCTION M/M: -3.1% V +0.2%E; Y/Y: 0.2% V 2.2%E
(KR) SOUTH KOREA MAY BUSINESS SURVEY MANUFACTURING: 90 V 85 PRIOR; NON MANUFACTURING: 85 V 82 PRIOR
(SI) SINGAPORE Q1 UNEMPLOYMENT RATE PRELIM: 2.1% V 2. ...
Title:
EUR/JPY - Technical Analysis - April 29, 2012
As we can see EUR/JPY has made a 50% retracement before. After that found support 106.1x area and right now it is between 23.6% - 50% range. On the other hand EJ has made lower high and lower low in past week. RSI is showing downwards momentum.
http://i.imgur.com/0bMeJ.png
Also this week few important newses are going to get released, so there is a very good chance that EJ will break downside.
Title:
Bank of Japan Not Able to Spoil Good Week for Yen
The Japanese yen gained this week against other major currencies and headed to the biggest monthly gain since June against the US dollar on fears of the crisis in Europe and concerns that the health of the US economy is not as good as was previously considered.
The yen behaved in similar pattern against different currencies. It was rising on Monday, fell and erased most of its gains in the next two days, but surged in the last two days of the week.
The major threat for the yen was the expansion of the asset purchase program by the Bank of Japan. Yet the expansion was smaller than market participants expected and its impact quickly waned. Demand for the safety of Japan’s currency was simply too high. And why not? The downgrade of Spain’s credit rating, the slowing economic growth of the ...
Title:
Weekly Forex Spot Contests - 04/30/2012 to 05/04/2012
Winners of the Weekly Forex Spot Contest - 04/30/2012 to 05/04/2012 :
Title:
Dukascopy Afternoon Forex Overview : 27/04/2012
Fundamental Analysis
EUR
Spain's credit rating was lowered by Standard & Poor's for a second time in 2012 on enduring worries the nation will have to apply additional fiscal backing to lenders as the economy shrinks. S&P cut its long term grade for Spain from A to BBB+ adding a negative outlook. Country's short term rating was lowered from A-1 to A-2, S&P agency reported on Thursday.
USD
Crude oil price declined from almost 4-week high in New York trade after S&P ratings agency cut Spain's sovereign credit rating, boosting concerns that further recession in Europe may halt demand for crude. Oil to be delivered in June lost USD 0.61, reaching USD 103.94 a barrel. June Brent oil gave up USD 0.49 and traded at USD 119.43 a barrel.
GBP
Today the Great Britain Pound extended its gains ...
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