Forex
HIGHLIGHTS OF THE WEEK
United States
Eurozone recession drags on for the sixth consecutive quarter as economic output declines 0.2% in 2013Q1. Growth in France and Italy declined by 0.2% and 0.5%, respectively, while the German economy grew ever so slightly, at a 0.1% pace.
First quarter growth accelerated in Japan as the Abenonomics-inspired yen depreciation fueled doubledigit export growth in the first three months of the year.
Fiscal retrenchment in the U.S., along with some transitory factors, has brightened the deficit outlook. Deficit for FY13 was revised down by $203bn, and looks $618bn lighter for the 2014-23 period.
Domestic data releases came in weak for externally-exposed sectors, but remained robust for the more domestically-oriented ones, with calls for exit from QE growing ...
Highlights
FX return analysis
Gold hurtling towards 2013 lows
Fundamental focus: UK and Europe
BOJ to stand pat
Clarity needed from the Fed
FX return analysis
The USD was the star performer last week, gaining against all of its G10 counterparts. The dollar index broke above 84.10 - a key resistance level - to the highest level since mid-2010. Interestingly, the dollar pushed higher even though there were some soft economic data points from the US last week including weaker inflation and initial jobless claims. The key driver of the stronger buck appears to have been some hawkish comments from Fed speakers. San Francisco Fed speaker John Williams and Charles Plosser both said that QE could end by 2014. Although Williams and Plosser are not voting members of the Fed this year, their ...
Gann's pyramid table of the 05/20/2013
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U.S. stocks climbed higher on Friday’s opening till the local stock market closed the week in green, buoyed by a positively over-the-roof increase in consumer sentiment which rose to pre-crisis levels, and an above forecast rise in leading indicators, sending the U.S. dollar to a three-year high, and putting stocks on route for a fourth week in gains.
The Dow Jones Industrial Average climbed 0.80% or 121.18 points to 15354.40 points. The S&P 500 index rose 0.95% to 1666.12 points. The NASDAQ composite index rose 0.97% to 3498.97 points.
The major U.S. indexes have hit new record highs this week, but stocks pulled back Thursday amid a raft of mixed economic reports and as some Fed officials called for an end to monetary stimulus this year.
The University of Michigan said its consumer ...
Throughout the US session today we watch the major pairs narrow trade today as the market is close to close and the week is ending as a result of present technical movements and also the presence of mixed sentiments; fears and hopes, with most of the data this week coming out gloomy or below market forecasts while that today cheerful data was report.
In fact today we saw that the US leading indicators, which is an index designed to forecast economic changes in the upcoming period of time, rose cheerfully in April by 0.6 percent.
While that the University of Michigan Confidence preliminary reading rose cheerfully to 83.7 from 76.4; an indication that confidence regarding personal finances, business conditions and purchasing power gained some strength.
Accordingly the euro is presently ...
Gold so far plunged in New York mainly as many investors lost faith in as a store of value although confidence is spread on the U.S soil with its shares inclining as soon as the local stock market opened as an index released today showed that confidence is strengthening yet gold fell to trade so far around $1364.50 an ounce recording a high of $1393.10 an ounce and a low of $1359.60 an ounce.
In fact today we saw that the US leading indicators, which is an index designed to forecast economic changes in the upcoming period of time, rose cheerfully in April by 0.6 percent.
While that the University of Michigan Confidence preliminary reading rose cheerfully to 83.7 from 76.4; an indication that confidence regarding personal finances, business conditions and purchasing power gained some ...
US dollar is heading higher today, surging on the latest news from the Federal Reserve. Comments about the Fed’s quantitive easing program — and its potential end this year — are lending strength to the greenback.
The President of the San Francisco Federal Reserve, John Williams, made comments indicating that the current quantitative easing program might end this year. The idea that the efforts to keep the dollar weak might be coming to an end is lending strength to the US dollar.
Greenback is also gaining strength as Forex traders compare the economic situation in the United States with other regions. Even with the somewhat disappointing data from earlier this week, the greenback is still in a relatively strong position — especially when compared to the continued problems in the ...
Crude oil futures eased a bit after gaining over 1% to $96.42 a barrel on the back of a stock market rally after a solid rise in U.S. consumer sentiment and leading indicators data.
Light sweet crude oil futures for June delivery was last at $95.25 per ounce, up from an open at $95.17, having earlier hit a high of $96.42, and a low of $94.78 per barrel. As of 11:50 New York Time
The Standard & Poor`s 500 Index was recently up 0.4% at 1657.45, rising after the Conference Board reported its index of leading economic indicators rose twice as much as expected in April.
Oil futures often rise and fall with the stock market, which is often tracked as a barometer of broader economic sentiment and oil demand.
In the U.S., the Thomson Reuters/University of Michigan preliminary index of ...