1,7038. EUR AUD is in an uptrend supported by 4H exponential moving averages. EUR AUD is in a consolidation after the last bullish movement. EUR AUD is in a range between 1,6940 and 1,7200. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should [...]
0,9122. AUD USD broke 0,9030 resistance. AUD USD moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on AUD USD. The uptrend should continue on 0,9150 resistance. We won’t take a position. The risk/reward [...]
The Dollar rose against a basket of currencies on Monday after a surprise jump in US existing home sales gave optimism over the economic outlook. Stock exchange has been boosted by risk appetite as JPMorgan proposed a fivefold increase offer for Bear Stearns. JP Morgan had upped its offer for Bear Stearns to $10 per [...]
Lack of reasons to sell further has disappointed the market
European releases overnight: Q4 Forecast ActualSwiss Industrial Production (YoY) +8.2% +9.1%
JanuaryItalian Trade Balance – Total EUR -3410mn -4219mnItalian Trade Balance – EU EUR 697.5mn 125.0mn
FebruaryU.K. CPI (MoM) +0.8% +0.7%U.K. CPI (YoY) +2.5% +2.5%U.K. CPI Core (YoY) +1.4% +1.2%U.K. RPI (MoM) +0.8% +0.8%U.K. RPI (YoY) +4.2% +4.1%U.K. RPI [...]
The market takes advantage of some peace before the FOMC
There have been no releases in Europe so far.
The following economic releases are due today:
Q4 Swiss Industrial Production (YoY) +8.2%
JanuaryItalian Trade Balance – Total EUR -3410mnItalian Trade Balance – EU EUR 697.5mn
FebruaryU.K. CPI (MoM) +0.8%U.K. CPI (YoY) +2.5%U.K. CPI Core (YoY) +1.4%U.K. RPI (MoM) +0.8%U.K. RPI (YoY) +4.2%U.K. [...]
Dollar remains nervous in a range ahead of the FOMC meeting
News from Australia:
The RBA still watches the inflationary situation like a hawk (pun intended) but they appear to be prepared to take the foot of the gas having pushed rates higher twice this year. The board considers the tightening to have been substantial since the [...]
Relentless negative sentiment persists
European releases overnight: Q4 Forecast ActualEuro-zone Employment (QoQ) +0.2%Euro-zone Employment (YoY) +1.7%
JanuarySwiss Adjusted Retail Sales (YoY) +2.7% +1.3%
States releases overnight:
Q4 Forecast ActualU.S. Current Account Balance US$ -184.4bn -172.9bn
FebruaryU.S. Industrial Production (MoM) - 0.1% - 0.5%U.S. Capacity Utilization 81.3% 80.9%
MarchU.S. Empire Manufacturing - 6.30 - 22.2U.S. NAHB Housing Market Index 20.0 20.0
The quagmire that was [...]
Early Europe pulls the Dollar back higher to resistance levels
There have been no releases from Europe.
The following economic releases are due today:
Q4Euro-zone Employment (QoQ) Euro-zone Employment (YoY) U.S. Current Account Balance US$ -184.4bn
JanuarySwiss Adjusted Retail Sales (YoY) +2.7%
FebruaryU.S. Industrial Production (MoM) - 0.1%U.S. Capacity Utilization 81.3%
MarchU.S. Empire Manufacturing - 6.30U.S. NAHB Housing Market Index 20.0
Early Europe is finding it [...]
An uneasy calm follows this morning’s storm
News from Japan:
Japan – January Forecast ActualTertiary Industry Index (MoM) +0.7% +0.7%Leading Economic Index (F) 30.0% 36.4%Coincident Index (F) 22.2% 20.0%
Japanese stats were pretty close to forecasts, the Tertiary Index seeing the first rise in 4 months and in line with forecasts. Much of the gain was due [...]
The dollar plummeted significantly again this week under renewed economic concerns. Many forecasters have projected that the US recession… Mar 17 2008 12:53PM GMT
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