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SunBirdFX Daily Market Analysis : 12/09/2011
www.sunbirdfx.com
The ECB reduced the European interest rate as expected and this action reflects the high concerns of the heads of the central bank regarding the economy's ability to overcome the current crisis. The way the currencies reacted to the ECB announcement reminded that trading during important events could be very dangerous. Most of the major currencies were strengthening during the very few moments after the release, but eventually the USD changed its direction and gained points against the other currencies.
S&P 500
These events affected also the US stock markets. Indices rose right after the interest rate announcement, but immediately changed direction and the bears took over. Even the encouraging data of declines in the unemployment claims did not help the stock, and the ...
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SunBirdFX Daily Market Analysis : 12/08/2011
www.sunbirdfx.com
As we estimated on the beginning of the week, the trading days have low volatility, because most of the investors were waiting for the ECB press conference that will take place today. Encouraging forecast in Trichet's speech might launch the financial markets and help the Euro rise.
GBP/USD
The pound's fans have waited for today's announcement of interest rate by the MPC. The rate is expected to remain unchanged at the level of 0.5%, and the MPC statement is the main event that might affect the British pound.
The pair has been moving in a channel in the recent 4-5 trading days, between the resistance of 1.573 and the support of 1.56. Yesterday was a very green day to the pair, which might reflects the investors' expectations regarding the announcement. A strong break- ...
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Dukascopy Morning Forex Overview : 07/12/2011
Fundamental Analysis
EUR
"Systemic stresses in the euro zone have risen in recent weeks"
- Standard & Poor’s
Standard & Poor’s placed ratings of 15 euro zone countries on watch with negative outlook on Monday, hinting that nations’ ratings depend on the outcome of a summit of European Union leaders on December 9.
USD
"With this trip, I think the Secretary will bring the message that time is running out"
- Domenico Lombardi, a former International Monetary Fund board member
U.S. Treasury Secretary Timothy Geithner arrived in Germany on Tuesday to urge euro zone officials to take decisive action to combat debt crisis in the region. This is one of the several trips Geithner has made in recent month as U.S. worries over the crisis in Europe grow.
GBP
"Overall, house prices have remained ...
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Anticipating a Correction in the Global Monetary System Read more: Anticipating a Correction in the
Whoa! The Dow rose almost 500 points yesterday. Whoopee! Hallelujah!
It was like the Second Coming on Wall Street. As if He walked across the East River…and announced it Himself:
“The fix is in.”
But it was not the sacred that spoke yesterday. It was the profane. The world’s central banks, to be precise. They got together. More like a meeting of mobsters than a gathering of the gods. They made it clear.
You want money? You want cash? You want something you can take to the bank? Well, you’ve got it!
“A move by the world’s central banks to lower the cost of borrowing exhilarated investors Wednesday,” the Associated Press reports, “sending the Dow Jones industrial average soaring 490 points and easing fears of a global credit crisis similar to the one that followed the 2008 collapse of ...
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Brent stays above $110, boosted by Mideast tensions
(Reuters) - Brent crude stayed above $110 as Iran's escalating tensions with the West and a pact by euro zone ministers to ramp up the firepower of their bailout fund helped prices to hold on to the previous session's gains.
But the positive outcome of Tuesday's meeting of euro zone ministers was negated by a failure to provide concrete details of how much the bailout fund would be boosted and Europe's likelihood of turning to the IMF for help.
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USD Falls Despite False IMF Aid Story
The USD came off its highs yesterday versus the majors after reports in the Italian press that the International Monetary Fund (IMF) will be providing aid to Italy. These reports subsequently proved to be false. Recent price movements in the FX markets have become more and more driven by the headlines and this should continue as reports come from today's 2-day Eurogroup meeting.
Economic News
USD - USD Down Despite False IMF Aid Story
The USD gave up a portion of last week's gains after reports of an IMF deal for Italy. The story proved false but that did not stop riskier assets from making a comeback at the expense of the USD. Both equities and higher yielding currencies such as the AUD came off of last week's lows.
The main news releases this week will come from the US with today's ...
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Technical analysis of the NZD/USD pair on November 29th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD has continued its bullish movement and is currently testing 0.7571 after a pullback on the upper band of its former falling wedge.
All indicators are bullish.
We are still neutral on the pair between 0.75 and 0.7571.
We advise to wait an exit of this range to take position:
- Long if 0.7571 is broken. The breakout of 0.7633 will give a new buy signal
- Short in case of return below 0.75. The breakout of 0.74 will give a new sell signal.
See the previous analysis of the NZD/USD pair of November 28th, 2011
NZD/USD Analysis
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Technical analysis of the NZD/USD pair on November 28th, 2011
Commentary of the NZD/USD pair :
A big bullish gap occured on the pair NZD/USD who got out above the resistance at 0.75.
All indicators are now bullish.
The pair is currently testing the upper band of its former falling wedge.
We are neutral on the pair between 0.75 and 0.7571.
We advise to wait an exit of this range to take position:
- Long if 0.7571 is broken. The breakout of 0.7633 will give a new buy signal
- Short in case of return below 0.75. The breakout of 0.74 will give a new sell signal.
See the previous analysis of the NZD/USD pair of November 25th, 2011
NZD/USD Analysis
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Asian markets drop for the fourth consecutive weak as European officials fail to reassure investors
Stocks in Asia were dropped today with the MSCI Asia Pacific Index falling 0.9% at 16:00 in Tokyo reaching the lowest on seven weeks and bringing the weekly losses to 4.4%, the most since the week ended on Sept. 23. as cautious is triggering more risk aversion and increasing demand on the safe haven USD.
U.S. markets will resume trading today after the Thanksgiving holiday enjoyed yesterday. However fears over reaching a resolution over the European debt crisis were reignited yesterday after statements by German and French officials failed to reassure investors on how to contain the euro-zone debt crisis.
The German Chancellor, Angela Merkel and the French President, Nicolas Sarkozy met yesterday with the Italian Prime Minister, Mario Monti to discuss the issuance of joint European bonds, ...
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