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Parity The Parity JustTitle:
FOMC Minutes and US Labour Market in Focus
The Week Ahead
Highlights
FOMC minutes and US labour market in focus
More QE for the UK
Spain and other sovereign concerns
RBA to hold for now
Market Moves
FOMC minutes and US labour market in focus
The past week has seen a multitude of Fed speakers express their views on the economic outlook and monetary policy. Voting members Bernanke, Lacker, Lockhart, Duke, and Dudley all delivered speeches as well as non-voters Plosser, Fisher, and Rosengren. The main focus was on Chairman Bernanke who reiterated his concern that the economic recovery is "slower than we would have hoped" and that "the job market remains far from normal". The Fed Chairman noted the benefits of continued accommodation and kept open the option for further easing. Markets will look to the release ...
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Growth Concerns in Focus – ECOFIN and US data to give more guidance today
What’s new:
Asia: Mixed figures from Japan took the JPY higher. Core CPI and employment slightly higher, but industrial production fell.
Europe: EUR fell in the London session on weak sentiment figures.
US: USD slightly lower on dovish Bernanke and in-line Q4 growth
Rates in Asia and Indices:
EURUSD: 1.3294 – 1.3376.
USDCHF: 0.9009 – 0.9067.
GBPUSD: 1.5947 - 1.6032.
EURJPY: 109.03 – 109.88.
USDJPY: 81.83– 82.50.
Dow Jones: 13’145.82 +0.15%
NASDAQ: 3'095.36 -0.31%
S & P 500: 1'403.28 -0.49%
Nikkei: 10’083.56 -0.31%
Shanghai: 2'253.19 +0.04%
Gold: $ 1'661.30
Crude Oil: $ 103.32
Comments:
After US growth figures came in line with expectations at 3.0% QoQ, the USD gained initially, but a dovish Bernanke and some rebound in a falling equity market late in the session made the Greenbank ...
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Technical analysis of the AUD/USD parity on March 30th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has tested yesterday the support at 1.03 and just made a pullback on the resistance at 1.04.
Indicators stay globaly bearish.
The pair is still moving into a bearish channel (purple lines).
We continue to advise short positions as far as 1.05 is resistance.
The breakout of 1.03 will give a new sell signal and open the way towards 1.02.
In case of return above 1.05, we will be neutral between this level and 1.0550.
The breakout of 1.0550 will give a buy signal.
See the previous analysis of the AUD/USD parity of March 29th, 2012
AUD/USD Analysis
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Technical analysis of the AUD/USD parity on March 29th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has continued its bearish movement yesterday and the breakout of 1.04 just gave us a new sell signal.
All indicators are bearish.
The pair is still moving into a bearish channel (purple lines).
We continue to advise short positions as far as 1.05 is resistance.
The breakout of 1.04 will give a new sell signal and open the way towards 1.03.
In case of return above 1.05, we will be neutral between this level and 1.0550.
The breakout of 1.0550 will give a buy signal.
See the previous analysis of the AUD/USD parity of March 28th, 2012
AUD/USD Analysis
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Canada’s Dollar Falls for Third Week
The Canadian dollar posted a weekly loss, falling for the third week against its US counterpart, as signs of economic slowdown across the world damped investors’ demand for riskier assets tied to economic growth.
This week wasn’t pretty for the Canadian currency (often nicknamed “loonie”). It’s no surprise, really, considering almost total absence of good news from Canada. Wholesale sales unexpectedly dropped, retail sales came out worse than predicted. To be fair, there were some good reports: leading indicators were somewhat better than expected and inflation data wasn’t bad, but anything good that came from Canada was mitigated by bad data from abroad.
Economic reports from China and Europe didn’t added confidence to Forex traders and subdued their willingness to buy higher-yielding ...
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YouTradeFX Daily Market Analysis : 23/03/2012
Fundamental News:
Today’s highlights:
Core CPI (CAD, 12:00 GMT)
New Home Sales (U.S, 15:00 GMT)
The EUR/USD is currently trading at 1.3179 down from a high of 1.3254. The USD has picked up strength all day. As investors once again started to worry about EU debt problems coming from Spain and Italy moved back to safety in the USD, along with an above forecast unemployment report, the USD was able to gain most of the afternoon. The Chinese economic slow continues to become more evident.
China manufacturing activity fell sharply in March as the rate of booking new orders fell to a four-month low at factories, leading to weaker generation of jobs, according to an initial reading of findings in an HSBC survey released today.
The News the markets have been waiting for and hoping ...
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Technical analysis of the AUD/USD parity on March 23th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has validated yesterday the breakout of 1.04, offering a new sell signal.
The pair is currently moving into a bearish channel (purple lines) and just rebounded on the lower band.
AUD/USD is trying to make a return above 1.04.
All indicators are bearish.
We continue to advise short positions as far as 1.05 is resistance.
The breakout of 1.03 will give a new sell signal and open the way towards 1.02.
In case of return above 1.05, we will wait the breakout of 1.0550 to advise long positions.
See the previous analysis of the AUD/USD parity of March 22th, 2012
AUD/USD Analysis
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Loonie Lower on Greenback Strength
Canadian dollar is weaker today, heading lower as the US dollar shows strength, and as commodities fall back. Today, it’s not a lot about economic data — including trade data — and more about larger trends for the future. With expectations of a US economic recovery picking up the pace, the greenback is gaining the upper hand.
Loonie is lower against the greenback today, due mostly to the fact that the US dollar is strengthening across the board on an upbeat economic forecast from the Federal Reserve. Recently, the Bank of Canada left rates unchanged, and there are hopes that the United States might be done with quantitative easing — and may even raise its own rates ahead of time.
Also weighing on the Canadian dollar today are commodity prices. Loonie is linked to commodity performances, ...
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Dollar rallies broadly, up over 1 pct vs. euro
(Reuters) - The dollar rallied broadly on Friday as strong payrolls data highlighted a growing disparity with struggling economies in other regions of the world.
The euro hit a session low of $1.3131 and last traded at $1.3142, down 1 percent on the day, according to Reuters data.
The dollar hit a new 9-1/2 month high against the yen after data showed employment in February grew solidly for a third straight month, a sign the economic recovery was broadening and in less need of further monetary stimulus from the Federal Reserve.
The dollar hit a high of 82.36, its highest since last May, and last traded at 82.32, up 0.9 percent on the day, according to Reuters data.
"The dollar is doing well across the board and surprisingly well against some of the commodity-based currencies. What we' ...
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