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Showing posts with label Forex Updates News. Show all posts
Showing posts with label Forex Updates News. Show all posts
US Dollar on the Brink of a Trend Defining Plunge Ahead of 2Q GDP
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Short-term Technical Analysis
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Cross Spot level Previous day move (in pips) Supp. Res. Daily target
USD/CHF 1.0729 0.0080 1.0715 1.0780
Daily chart 1.0655 1.0800
Short-term chart 1.0620 1.0860
Comments
As expected, yesterday proved to be a day of range trading on the dollar. The USD/CHF edged up to 1.0769 before US figures were published and then dipped back down to its support zone at 1.0634. Market activity is likely to be stable as we head into the weekend. We remain neutral on the pair and expect to be trading in a range between 1.0600 and 1.0750.
http://friendfinder.com/go/g1361203
EUR/USD 1.4175 -0.0061 1.4115 1.4215
Daily chart 1.4095 1.4265
Short-term chart 1.4050 1.4290
Comments
Yesterday’s trading saw the EUR/USD seesaw between a low of 1.4120 and a high of 1.4292. The publication today of Germany’s IFO business climate index and of a revised Michigan Sentiment reading in the US is unlikely to disrupt the summer tranquillity on the markets. We will be continuing to play a range between 1.4100 and 1.4250 on the EUR/USD.
http://friendfinder.com/go/g1361203
USD/JPY 94.81 0.63 94.55 95.40
Daily chart 94.10 95.70
Short-term chart 93.90 95.85
Comments
The EUR/CHF cross rose back above the 1.5200 mark yesterday, on the back of significant acquisitions by Swiss companies. Volatility was considerably higher during the session, with the trading range between a low at 1.5160 and a high at 1.5244. We are expecting to close this week in a range between 1.5175 and 1.5225. We are awaiting publication this morning of the German IFO index.
http://friendfinder.com/go/g1361203
EUR/CHF 1.5208 0.0045 1.5180 1.5255
Daily chart 1.5150 1.5280
Short-term chart 1.5135 1.5325
Comments
Boosted by the uptick on equity markets, a weakened dollar and strong retail sales growth in the UK, sterling continued its advance against the greenback, breaking past the 1.6500 barrier to reach a high of 1.6585. The top of our range is still 1.6600, and another positive day for equity markets should take us there. Today sees publication of the University of Michigan consumer confidence reading for July.
http://friendfinder.com/go/g1361203
GBP/USD 1.6502 0.0022 1.6455 1.6535
Daily chart 1.6430 1.6560
Short-term chart 1.6390 1.6605
Comments
Boosted by the uptick on equity markets, a weakened dollar and strong retail sales growth in the UK, sterling continued its advance against the greenback, breaking past the 1.6500 barrier to reach a high of 1.6585. The top of our range is still 1.6600, and another positive day for equity markets should take us there. Today sees publication of the University of Michigan consumer confidence reading for July.
http://friendfinder.com/go/g1361203
Cross Spot level Previous day move (in pips) Supp. Res. Daily target
USD/CHF 1.0729 0.0080 1.0715 1.0780
Daily chart 1.0655 1.0800
Short-term chart 1.0620 1.0860
Comments
As expected, yesterday proved to be a day of range trading on the dollar. The USD/CHF edged up to 1.0769 before US figures were published and then dipped back down to its support zone at 1.0634. Market activity is likely to be stable as we head into the weekend. We remain neutral on the pair and expect to be trading in a range between 1.0600 and 1.0750.
http://friendfinder.com/go/g1361203
EUR/USD 1.4175 -0.0061 1.4115 1.4215
Daily chart 1.4095 1.4265
Short-term chart 1.4050 1.4290
Comments
Yesterday’s trading saw the EUR/USD seesaw between a low of 1.4120 and a high of 1.4292. The publication today of Germany’s IFO business climate index and of a revised Michigan Sentiment reading in the US is unlikely to disrupt the summer tranquillity on the markets. We will be continuing to play a range between 1.4100 and 1.4250 on the EUR/USD.
http://friendfinder.com/go/g1361203
USD/JPY 94.81 0.63 94.55 95.40
Daily chart 94.10 95.70
Short-term chart 93.90 95.85
Comments
The EUR/CHF cross rose back above the 1.5200 mark yesterday, on the back of significant acquisitions by Swiss companies. Volatility was considerably higher during the session, with the trading range between a low at 1.5160 and a high at 1.5244. We are expecting to close this week in a range between 1.5175 and 1.5225. We are awaiting publication this morning of the German IFO index.
http://friendfinder.com/go/g1361203
EUR/CHF 1.5208 0.0045 1.5180 1.5255
Daily chart 1.5150 1.5280
Short-term chart 1.5135 1.5325
Comments
Boosted by the uptick on equity markets, a weakened dollar and strong retail sales growth in the UK, sterling continued its advance against the greenback, breaking past the 1.6500 barrier to reach a high of 1.6585. The top of our range is still 1.6600, and another positive day for equity markets should take us there. Today sees publication of the University of Michigan consumer confidence reading for July.
http://friendfinder.com/go/g1361203
GBP/USD 1.6502 0.0022 1.6455 1.6535
Daily chart 1.6430 1.6560
Short-term chart 1.6390 1.6605
Comments
Boosted by the uptick on equity markets, a weakened dollar and strong retail sales growth in the UK, sterling continued its advance against the greenback, breaking past the 1.6500 barrier to reach a high of 1.6585. The top of our range is still 1.6600, and another positive day for equity markets should take us there. Today sees publication of the University of Michigan consumer confidence reading for July.
http://friendfinder.com/go/g1361203
UPDATE:Argentina Min: 'Creativity' Needed To Access Credit Mkts
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UPDATE:Argentina Min: 'Creativity' Needed To Access Credit Mkts (UPDATES to include comnents on Indec.) BUENOS AIRES (Dow Jones)--The Argentine government will need a lot of "creativity" to access global credit markets, Economy Minister Amado Boudou said Friday. "We'll need to look for alternatives," Boudou, who replaced former economy minister Carlos Fernandez last week, said in a radio interview. "We have to look at what the best measures are to access the markets. We shouldn't stick with what's traditional." Boudou, who came to the Economy Ministry after heading the social security agency, Anses, said Argentina will maintain its fiscal surplus in 2009. "We're going to take all the measures needed to protect it," he said. Even so, Boudou said nobody should expect the government to "adjust" policies in a way that implies cutting programs or benefits. "That has to be totally discarded," he said. Boudoue also said he planned to "do something" about the national statistics agency, Indec, though he didn't say specifically what he will do. Economists say the agency has been manipulating data - a charge government officials deny. "Indec is part of the president's agenda," he said. "It's part of my agenda, part of the community's agenda." Boudou indicated he will pursue the same kind of policies that have characterized Argentina's government in recent years. "We need to redouble our effort to maintain this course and continue improving the situation," he said. -By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=OgBNNDYHfkY7HuExqLXI%2FA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires
http://friendfinder.com/go/g1361203
UPDATE:Argentina Min: 'Creativity' Needed To Access Credit Mkts (UPDATES to include comnents on Indec.) BUENOS AIRES (Dow Jones)--The Argentine government will need a lot of "creativity" to access global credit markets, Economy Minister Amado Boudou said Friday. "We'll need to look for alternatives," Boudou, who replaced former economy minister Carlos Fernandez last week, said in a radio interview. "We have to look at what the best measures are to access the markets. We shouldn't stick with what's traditional." Boudou, who came to the Economy Ministry after heading the social security agency, Anses, said Argentina will maintain its fiscal surplus in 2009. "We're going to take all the measures needed to protect it," he said. Even so, Boudou said nobody should expect the government to "adjust" policies in a way that implies cutting programs or benefits. "That has to be totally discarded," he said. Boudoue also said he planned to "do something" about the national statistics agency, Indec, though he didn't say specifically what he will do. Economists say the agency has been manipulating data - a charge government officials deny. "Indec is part of the president's agenda," he said. "It's part of my agenda, part of the community's agenda." Boudou indicated he will pursue the same kind of policies that have characterized Argentina's government in recent years. "We need to redouble our effort to maintain this course and continue improving the situation," he said. -By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=OgBNNDYHfkY7HuExqLXI%2FA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires
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