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ParityTitle:
Technical analysis of the AUD/USD parity on March 6th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has validated yesterday the breakout of 1.07, offering a sell signal.
The pair is now going to test the next support at 1.06.
Indicators are globaly bearish.
We now advise to trade the pair according to key level at 1.07:
- Long above 1.07. The breakout of 1.08 will give a new buy signal
- Short below 1.07. The breakout of 1.06 will give a new sell signal.
See the previous analysis of the AUD/USD parity of March 5th, 2012
AUD/USD Analysis
Title:
Service sector expands at fastest pace in year
(Reuters) - The U.S. services sector expanded at its fastest pace in a year in February, helped by a gain in new orders and as the housing market shows signs of stabilizing.
The Institute for Supply Management said its services index rose to 57.3 in February last month from 56.8 in January, in sharp contrast to economists' expectations for a drop to 56.1.
It was the index's highest level since February 2011. The services sector accounts for about two-thirds of U.S. economic activity. A reading above 50 indicates expansion.
Tom Porcelli, chief U.S. economist at RBC Capital Markets in New York, highlighted the gain in the forward-looking new orders component.
"At this level of ISM, this is not really changing our view that you're still looking at around a 2.0 percent year in terms of GDP ...
Title:
Gold slips below $1,700/oz as dollar firms
(Reuters) - Gold prices slid below $1,700 an ounce in Europe on Monday as weaker-than-expected euro zone economic data lifted the dollar versus the euro, and as appetite for assets seen as higher risk, like stocks and commodities, suffered after China set its lowest annual growth target in eight years.
Spot gold hit a low of $1,693.99 an ounce and was down 0.9 percent at $1,697.09 an ounce at 1037 GMT, while U.S. gold futures for April delivery were down $11.20 an ounce at $1,698.60.
Spot prices fell 3.9 percent last week, their worst weekly performance since mid-December, after Federal Reserve chairman Ben Bernanke gave no further hints, in a key speech, of a third round of quantitative easing in the United States.
"Markets had really hoped for QE3, and that did create a plunge for ...
Title:
Technical analysis of the AUD/USD parity on March 5th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD is falling since friday.
The pair is currently testing the breakout of 1.07 that will offer a new sell signal.
Indicators are globaly bearish.
We now advise to trade the pair according to key level at 1.07:
- Long above 1.07. The breakout of 1.08 will give a new buy signal
- Short below 1.07. The breakout of 1.06 will give a new sell signal.
See the previous analysis of the AUD/USD parity of March 2nd, 2012
AUD/USD Analysis
Title:
Gold inches up as buyers trickle back after selloff
Gold edged higher on Friday as buyers slowly returned to the market, lured by Wednesday's plunge of 5 percent, although bullion is still looking at its worst week since December.
U.S. Federal Reserve Chairman Ben Bernanke's lack of a reference to further quantitative easing at congressional testimony on Wednesday sparked a heavy sell-off in bullion, sending the metal to a one-month low short of $1,700.
Gold's fall to the lower end of its previous range showed the lack of conviction required to push prices above $1,800 or higher, but analysts and traders saw Wednesday's plunge as a healthy correction rather than the end of the bull run.
"The broader macro backdrop remains gold-favorable, given the negative interest rate environment, longer-term inflationary concerns and lingering ...
Title:
Technical analysis of the AUD/USD parity on March 2nd, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has faked again the breakout of 1.08.
The pair continues to move around the lower band of its former rising wedge.
Indicators are globaly bullish.
We continue to advise long positions as far as 1.0725 is support.
A return above 1.08 will comfort our bullish feeling.
The breakout of 1.0850 will give a new buy signal and open the way towards 1.09.
In case of return below 1.0725, we will wait the breakout of 1.07 to advise short positions.
See the previous analysis of the AUD/USD parity of March 1st, 2012
AUD/USD Analysis
Title:
PRECIOUS-Gold inches up as buyers trickle back after selloff
(Reuters) - Gold edged higher on Friday as buyers slowly returned to the market, lured by Wednesday's plunge of 5 percent, although bullion is still looking at its worst week since December.
U.S. Federal Reserve Chairman Ben Bernanke's lack of a reference to further quantitative easing at congressional testimony on Wednesday sparked a heavy sell-off in bullion, sending the metal to a one-month low short of $1,700.
Gold's fall to the lower end of its previous range showed the lack of conviction required to push prices above $1,800 or higher, but analysts and traders saw Wednesday's plunge as a healthy correction rather than the end of the bull run.
"The broader macro backdrop remains gold-favorable, given the negative interest rate environment, longer-term inflationary concerns and ...
Title:
Technical analysis of the AUD/USD parity on March 1st, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has faked yesterday the breakout of 1.08 and reached in extension 1.0850.
The pair continues to move around the lower band of its former rising wedge.
Indicators are mitigated.
We continue to advise long positions as far as 1.0725 is support.
The breakout of 1.0850 will give a new buy signal and open the way towards 1.09.
In case of return below 1.0725, we will wait the breakout of 1.07 to advise short positions.
See the previous analysis of the AUD/USD parity of February 29th, 2012
AUD/USD Analysis
Title:
Dollar jumps vs yen, euro after Bernanke speaks
The dollar leaped against the euro and yen on Wednesday as a confluence of factors, ranging from a European Central Bank cash infusion to diminished expectations of another asset-buying binge by the Federal Reserve, raised its appeal.
An array of positive U.S. data, which typically increases risk appetite, favored the greenback against the euro as it highlighted a growing disparity between the economies on both sides of the Atlantic.
The euro accelerated losses against the dollar to hit a near one-week low and the greenback rose sharply against the yen after Fed Chairman Ben Bernanke told a congressional panel the country's unemployment rate had fallen faster than expected.
Bernanke offered a tempered view of the U.S. economy and stopped short of signaling further Fed bond purchases, ...
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