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Trade Long PositionsTitle:
Lack of Greek Deal Sends EUR Tumbling
The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt. Losses were seen against most of its main currency rivals, including the US dollar, Japanese yen and British pound. Today, in addition to any euro-zone developments that may occur, traders will want to pay attention to a speech from the US Fed Chairman at 15:00 GMT. Any positive statements could help the USD extend its recent bullish trend.
Economic News
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Title:
Dukascopy Morning Forex Overview : 06/02/2012
Fundamental Analysis
EUR
"The decline in euro-area December retail sales confirms our view that private consumption is likely to have fallen in the fourth quarter"
- James Ashley, senior European economist at RBC Capital Markets
Euro zone retail sales declined unexpectedly in December, said the European Union's statistics office Eurostat on Friday. Retail sales fell 0.4 per cent from November after declining by the same amount in October.
USD
"The report was much better than expected in ...
Title:
Positive Jobs Report Boosts USD
The USD saw gains across the board on Friday, following a significantly better than expected US Non-Farm Payrolls figure that helped boost confidence in the US economic recovery. Perhaps most significantly, the USD/JPY came off its recent three-month low. The news calmed fears that the Bank of Japan would soon intervene to limit yen growth. This week, Greece is likely to be back in the headlines as investors eagerly await news of a possible debt-swap deal. Any positive developments are likely ...
Title:
Technical analysis of the GBP/JPY pair on February 6th, 2012
Commentary of the GBP/JPY pair :
The pair GBP/JPY is currently testing the resistance at 121 and is moving above a bullish slant (purple line).
All indicators are bullish.
The resistance at 121 is a very strong zone of resistance on the medium term.
We continue to advise short positions as far as 121 is resistance.
The breakout of 120.50 (and so of the bullish slant) will give a new sell signal and open the way towards 120.
In case of return above 121, a buy signal will be given.
We will then ...
Title:
Yen intervention risks mount before U.S. jobs data
The dollar teetered near three-month lows versus the yen on Friday, as risks for a move towards record lows mounted before U.S. jobs data, keeping alive the threat of official intervention to weaken the Japanese currency.
Japanese Finance Minister Jun Azumi said on Friday speculative yen buying had gathered pace since last week and repeated that he was ready to act decisively to counter "one-sided" moves.
The euro and the Australian dollar struggled to make much headway as a dip in Chinese non- ...
Title:
US Non-Farm Payrolls Set to Generate Heavy Volatility
Today's US Non-Farm Payrolls figure, widely considered the most significant economic indicator on the forex calendar, is set to generate heavy trading today. At the moment, analysts are predicting that the US added somewhere around 150K jobs in January. Should the final result come in below expectations the USD may come under renewed pressure to close out the week.
Economic News
USD - Negative Euro-Zone News Gives USD Temporary Boost
Fresh concerns regarding Greece's debt negotiations sent ...
Title:
Euro weighed by uncertainty over Greece
What’s new:
Forex: Euro headed for weekly decline against majors; Aussie struggles on Chinese data
Forex: Dollar close to record low versus yen
Global Markets: Markets muted ahead of US jobs data
Japan: Finance minister Azumi warns on ‘one-sided’ moves in USD/JPY, traders wary of possible intervention
Euro zone: Spain and France attract solid demand at bond auctions
China: Non-manufacturing PMI declines sharply in January, hurts riskier currencies
United States: US jobs report scheduled for 14: ...
Title:
Risk currencies struggle on China data; U.S. jobs eyed
The euro and the Australian dollar struggled to make much headway in Asia on Friday as a dip in Chinese non-manufacturing data weighed on sentiment ahead of a key jobs report in the United States.
China's non-manufacturing purchasing managers index fell to 52.9 in January from 56 the month before, prompting traders to lighten positions in risk currencies. That sent the euro to an intraday low of $1.3114, while the Aussie nudged down 0.2 percent to $1.0692.
They recouped most of the losses ...
Title:
SunBirdFX Daily Market Analysis : 02/02/2012
www.sunbirdfx.com
The US stock market soared yesterday in spite of mix economic data. The ADP Non-Farm Employment Change data showed that the US economy created 170K new jobs in the previous month, comparing to 292K in the month before. Analysts expectations were a growth of 189K new jobs and this disappointing number might indicate for the official release on Friday. The ISM manufacturing PMI was also under the predictions, which is a negative signal for the activity of the manufacturing ...
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