internationallove Posted February 15, 2013 Author Share Posted February 15, 2013 Market Analytics:FBS Markets Inc. EUR/USD: weekly outlook Daily chart: Today EUR/USD rebounded to $1.3390 as German finance minister Weidmann said the ECB won’t cut interest rates to weaken euro. The bearish correction continues. Earlier in the week the pair tried to rebound above $1.3500, but was pushed down to $1.3315 on negative euro zone’s GDP data. The pair took the lead of a “shooting star” candle formed on Wednesday. Chart. Daily EUR/USD Weekly chart EUR/USD remains in the medium-term uptrend at least above $1.3300/3270. The pair holds above the 200-week EMA ($1.3350) and the weekly Ichimoku (upper boundary at $1.3295). The next strong support lies at $1.3150. Long-term inverted “head-and-shoulders” pattern points to a further growth to $1.3830 and $1.4000. Chart. Weekly EUR/USD Fundamental picture Despite the positive techniacal view it is necessary to bear in mind the various political and economic risks, threatening the single currency. Political instability in Spain and Italy keeps raising concerns. Euro zone's Q4 GDP figures revealed that the block's economy is far from recovery (Q4: -0.6% q/q; forecast: -0.4% q/q; Q3: -0.1% q/q). Next Monday euro zone will release current account data. On Tuesday see ZEW economic sentiment indexes for Germany and euro zone. On Wednesday watch the regional PMIs and the Spanish 10-year bond auction. On Friday Germany will release Ifo business climate index. The key risk event - Italian parliamentary election – is scheduled on Sunday. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-15/21552-eurusd-weekly-outlook Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 15, 2013 Author Share Posted February 15, 2013 Market Analytics:FBS Markets Inc. Feb. 15: European session EUR/USD trades at yesterday’s minimums in the $1.3320/40 area after an attempt to recover to $1.3400 earlier today. The main support is at $1.3300. Euro zone’s trade surplus was higher than expected (12.0B vs. forecast of 10.7B). ECB’s Draghi comments: - Exchange rate is not a policy target but is important for growth, price stability. - LTRO repayment shows that confidence in euro area is returning but fragility remains. - Q4 GDP is “worse than expected”. Jens Weidmann, Bundesbank President: - EUR was not seriously overvalued and that the ECB would not change monetary policy to weaken the currency. GBP/USD is testing fresh 6.5-month lows of $1.5460 following poor January retail sales data. Sales contracted by 0.6% m/m and y/y vs. a forecasted expansion of 0.4% and 0.8% respectively. Core retail sales were down by 0.5% m/m and up by 0.2% y/y, (forecast: a 0.4% and 1.4% growth respectively). EUR/GBP rallied to 0.8620. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: www.fbs.com/analytics/2013-02-15/21560-feb-15-european-sessionurl] Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 15, 2013 Author Share Posted February 15, 2013 Market Analytics:FBS Markets Inc. Analysts: outlook for EUR/USD Commerzbank: Key near-term support at $1.3270/55 is likely to hold the initial losses. However, the downside risks have increased. A close below $1.3160 will completely negate the downward move. Danske Bank: The euro will still be the top pick in H1 2013 among the four major currencies. We forecast EUR/USD to peak at $1.3800 in 6 months and then lower to $1.3400 in 12 months. BTMU: EUR/USD will range between $1.3150-1.3550 in the near term. Euro has stablilised over the past week following Draghi's comments, attempterd to dampen the currency. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-15/21558-analysts-outlook-eurusd Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 18, 2013 Author Share Posted February 18, 2013 Market Analytics:FBS Markets Inc. Feb. 18: Asian session The MSCI Asia Pacific Index of shares rose by 0.5%. US markets will be shut today for the Presidents’ Day holiday. AUD/USD opened with a gap down and hit $1.0275 today. NZD/USD slid to $0.8420 from $0.8533, the highest since Sep. 2, 2011. USD/JPY rose to the levels above 94.00 after G20 nations refrained from criticizing Japan for policies driving yen’s decline. EUR/USD is trading on the downside, in the $1.3330 area, ahead of Italy’s general election on Feb. 24. The ECB’s President Mario Draghi will speak at 14:30 GMT. GBP/USD is trading around $1.5470, near 7-month lows, on prospects the Bank of England will tolerate higher inflation. USD/CAD took off with a gap up rising to 1.0080. USD/CHF continues its advance, the pair’s at 0.9252. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-18/21562-feb-18-asian-session Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 18, 2013 Author Share Posted February 18, 2013 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.3000, $1.3375, $1.3400, $1.3500; GBP/USD: $1.5600, $1.5710, $1.5725; USD/JPY: 91.50, 92.00, 92.50-60-90, 93.25, 94.00; AUD/USD: $1.0285, $1.0300, $1.0385; EUR/CHF: 1.2320. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-18/21566-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 18, 2013 Author Share Posted February 18, 2013 Market Analytics:FBS Markets Inc. EUR/USD: news from the battlefield EUR/USD found support at $1.3320 and is up by about 50 pips from that level. There’s still uptrend on the daily chart, yet bulls definitely have reasons to worry. Analysts at BBH think that additional near-term losses in EUR/USD are likely. The 5-day MA went below the 20-day one. One may try small shorts on the pullbacks to $1.3400/15 for $1.3310. It seems that the market players have finally become more concerned with the euro zone’s fundamentals. This week will be full of important releases (German ZEW Economic Sentiment on Tuesday, flash PMIs on Thursday, German Ifo Business Climate on Friday), so EUR/USD will likely be driven by these data. Consensus forecasts show that some improvement’s expected. Yet, no one can easily forget GDP figures released last week, especially contraction in France and Germany. The European Commission will release new forecasts for the euro zone economy – this may be a crucial release (reduction of forecast would trigger a sell-off, while increase will lift up the pair). Resistance: $1.3400, $1.3430/50, $1.3500/20. Support: $1.3300, $1.3250, $1.3150. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-18/21572-eurusd-news-battlefield Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 18, 2013 Author Share Posted February 18, 2013 Market Analytics:FBS Markets Inc. USD/JPY: upside’s favored USD/JPY is consolidating in the 94.00 area, close to the upper edge of the sideways range within which it has been trading for the last couple of weeks. G20 meeting is left behind and the next important thing will be the name of the Bank of Japan’s new Governor. The overall outlook is bullish, though the pair still has to go above 94.45/50 to resume move up and reach 94.99. Our strategy is buying on the pullbacks, around 93.00. Rabobank: Yen will continue to weaken as the government pressures the BOJ. USD/JPY will rise to 95.00 in the coming weeks, though the pace of its advance will gradual and we may see more consolidation on the way. Citi added to USD/JPY long targeting 95.70 and with stop at 92.55. Support: 93.85, 93.65, 93.30, 93.00, 92.20. Resistance: 94.21, 94.75 (100-week EMA), 94.99. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-18/21577-usdjpy-upsides-favored Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 19, 2013 Author Share Posted February 19, 2013 Market Analytics:FBS Markets Inc. Feb. 19: Asian session EUR/USD remains little changed around $1.3350. Traders are looking forward to ZEW economic sentiment index for Germany and the euro area released today at 10:00 GMT. USD/JPY drifted lower to 93.60 after Japanese Finance Minister Taro Aso said the government has no intention of buying foreign bonds through a fund with the Bank of Japan. GBP/USD is up from the 7-month low of $1.5437 hit yesterday on comments of the Bank of England policy maker Martin Weale that sterling’s decline may help bolster exports. NZD/USD almost touched $0.8400 today after reports that China has destroyed some milk powder imported from New Zealand. Then kiwi recovered back to $0.8440 as NZ producer said that none of its products were destroyed in China. AUD/USD rose after the Reserve Bank of Australia said stronger demand from China and an improved global outlook have spurred prices for commodities. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-19/21579-feb-19-asian-session Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 19, 2013 Author Share Posted February 19, 2013 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: EURUSD: $1.3400, $1.3500; USDJPY: 92.00, 92.70, 93.00, 93.50, 94.00, 94.30; AUDUSD: $1.0200, $1.0270; EURGBP: 0.8500; EURCHF: 1.2320, 1.2400. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-19/21582-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 20, 2013 Author Share Posted February 20, 2013 Market Analytics:FBS Markets Inc. Feb. 20: Asian session EUR/USD peaked at $1.3433 in Asia and then drifted a bit lower, though staying above $1.3400. Euro breached consolidation range of the previous couple of days to the upside. Demand for the single currency increased as data today may show that consumer confidence in the currency bloc improved. USD/JPY initially rose to 83.80 as Japan posted the biggest trade deficit since 1947 (1.63 trillion yen ($17.4 billion)), but then slipped to 93.19 on the speculation that the Bank of Japan refrain from adding to monetary stimulus until new leadership takes over. AUD/USD rose to $1.0365. Iron-ore prices rose to 5-week highs and Australian 10-year yield went to the highest level in 9 months. NZD/USD dropped to $0.8393 (200-period MA on H4) before returning slightly above $0.8400. The Reserve Bank of New Zealand’s Governor Graeme Wheeler said the central bank is prepared to intervene to “smooth the peaks” of the currency’s exchange rate. GBP/USD renewed 7-month low yesterday ($1.5414) and is trading not far from that point, below $1.5450. USD/CHF returned to 0.9200 and may be forming a top. USD/CAD is trading below yesterday’s high of 1.0137. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-20/21605-feb-20-asian-session Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 20, 2013 Author Share Posted February 20, 2013 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.3350, $1.3475, $1.3500; GBP/USD: $1.5500, $1.5800; USD/JPY: 92.00, 92.50, 94.50; AUD/USD: $1.0100, $1.0200, $1.0400, $1.0525; EUR/JPY: 123.00. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-20/21617-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 21, 2013 Author Share Posted February 21, 2013 Market Analytics:FBS Markets Inc. Feb. 21: Asian session US dollar strengthened vs. its counterparts as the Fed’s meeting minutes showed that some policymakers thought the Fed may have to slow or stop buying bonds before seeing a pick-up in employment. Later today the United States will release leading indicators and manufacturing PMIs which may show that American economic recovery is gathering pace. EUR/USD fell from Wednesday’s high of $1.3433 to $1.3250. Watch euro zone’s flash PMIs at 8-9:00 GMT and Spanish 10-year debt auction (around 9:30-10:00 GMT). AUD/USD dropped to February lows below $1.0230 as Asian stocks declined reducing demand for higher-yielding assets. NZD/USD is trading on the downside, below $0.8350. USD/JPY is sitting in 93.13/94.20 area. GBP/USD slumped to $1.5130. USD/CHF rose reaching 0.9300. USD/CAD reached new 7-month high at 1.0192. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-21/21627-feb-21-asian-session Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 21, 2013 Author Share Posted February 21, 2013 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.3300, $1.3335, $1.3340/45/50, $1.3475; GBP/USD: $1.5875, $1.6220; USDJPY: 87.50, 88.00, 88.50, 88.75, 90.00, 90.50, 91.00; USDCHF: 0.9150, 0.9450; AUDUSD: $1.0310, $1.0415. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-21/21629-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 21, 2013 Author Share Posted February 21, 2013 Market Analytics:FBS Markets Inc. GBP/USD: an impressive slump GBP/USD hit today fresh 2-½-year minimum at $1.5130. At the moment of writing the pair has manage to recover to $1.5250 on slightly better public sector borrowing data and CBI industrial order expectations figures. Sterling has breached down big triangle support line which has been in place since 2009. In our view, it may recover to $1.5350/60 before resuming decline. Support: $1.5233 (2012 low), $1.5130, $1.5070. Resistance: $1.5270, $1.5300, $1.5350, $1.5400. Bank of America Merrill Lynch: We look for GBP/USD to weaken further in the sessions and weeks to come. Wait for any pause/bounce in that down-move and then go short targeting the multi-decade range lows at $1.4035 and potentially at $1.3504. This forecast will be cancelled only if pound manages to rise above $ 1.5640 and the specialists regard such possibility as slim. Chart. Daily GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-21/21638-gbpusd-impressive-slump Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 22, 2013 Author Share Posted February 22, 2013 Market Analytics:FBS Markets Inc. Feb. 22: Asian session EUR/USD is trading above $1.3200 after hitting 6-week low at $1.3161 yesterday. The market’s waiting for Italy’s parliamentary election this weekend. Opinion polls show that former premier Silvio Berlusconi closing a gap with front-runner Pier Luigi Bersani. In addition, the European Commission will release today its economic forecasts (10:00 GMT). Earlier pay attention for German Ifo business climate. Moreover, data may confirm that Germany, euro zone’s biggest economy, contracted by 0.6% q/q in Q4. Asian shares retraced some of their previous declines as sluggish data released in the US yesterday emphasized the need for the Fed’s continued monetary stimulus. AUD/USD is up by more than 60 pips, above $1.0300, after the Reserve Bank of Australia signaled it will refrain from rapid interest-rate cuts. NZD/USD rose to $0.8390. USD/JPY dipped to 82.80 yesterday, but then recovered to 93.40. Yen strengthened this week as investors are trying to guess who will be the bank of Japan’s next governor. GBP/USD recovered to $1.5320 after hitting 2.5 year low at $1.5130 yesterday. USD/CAD is correcting after reaching yesterday levels above 1.0200. Watch for core CPI and retail sales released in Canada later today. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-22/21641-feb-22-asian-session Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 22, 2013 Author Share Posted February 22, 2013 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.3525; USD/JPY: 91.00, 92.00, 93.00, 93.35, 95.00; AUD/USD: $1.0300; EUR/GBP: 0.8700. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-22/21644-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 22, 2013 Author Share Posted February 22, 2013 Market Analytics:FBS Markets Inc. Feb. 22: European session German Ifo Business Climate rose to 107.4 in Feb., compared with the forecast of 104.9 and 104.3 in Jan. Investors were ready to good numbers, so the rally was limited. EUR/USD spiked to $1.3250 and slid to $1.3200. The European Commission revised down 2013 economic growth forecast for the euro zone from 0.1% to -0.3%. German GDP growth forecast for 2013 was reduced from 2% to 0.5% and French – from 1.2% to 0.1%. The ECB will announce the repayment details for the second LTRO at 11:00 GMT – the euro bulls are waiting for the news. Elsewhere USD/JPY is on the upside as before Japan’s Prime Minister Shinzo Abe meets US President Barack Obama today in Washington. GBP/USD slid to $1.5260 after spiking to $1.5320. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-22/21651-feb-22-european-session Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 22, 2013 Author Share Posted February 22, 2013 Market Analytics:FBS Markets Inc. EUR/USD: watch the week’s closing level Technical analysts at Commerzbank claim that if EUR/USD closes the week below the 7-month uptrend at $1.3202, the declines will continue. Downside target lies at $1.2679/61 (61.8% retracement of the move up from July 2012 and the November 2012 low). Initial support lies at $1.3075/3 (38.2% retracement of the same move). Specialists at UBS say that if EUR/USD closes below $1.3187, it will drop to $1.3063 and $1.2998. Resistance is at $1.3291 and $1.3434. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-22/21655-eurusd-watch-weeks-closing-level Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 25, 2013 Author Share Posted February 25, 2013 Market Analytics:FBS Markets Inc. Feb. 25: Asian session USD/JPY opened with a gap up and is trading close to the 3-year highs around 94.30. Prime Minister Shinzo Abe was said to be very likely to nominate Haruhiko Kuroda as the Bank of Japan Governor – this candidate is expected to favor aggressive policy easing. Abe is also likely to tap Kikuo Iwata and Hiroshi Nakaso as deputy governors, reports Bloomberg. Chief Cabinet Secretary Yoshihide Suga said today Abe will present the nominees to parliament this week, though a final decision hasn’t been made. AUD/USD is on the downside, below $1.0300 after opening with a gap down. Aussie fell after a gauge of Chinese manufacturing came in below economists’ estimates. NZD/USD rose by about 20 pips to $0.8375. GBP/USD opened with a gap down and hit $1.4998, the lowest level since July 2010. Moody’s Investors Service lowered UK credit rating of from the top rating of Aaa to Aa1 citing the nation’s weak growth outlook and and challenges to the government’s fiscal consolidation program. EUR/USD is little changed during the Asian session trading just below $1.3200. Italian election is still underway until the afternoon when first results will be known. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-25/21657-feb-25-asian-session Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 25, 2013 Author Share Posted February 25, 2013 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.3130, $1.3200, $1.3250, $1.3300, $1.3400, $1.3450; AUD/USD: $1.0250, $1.0300; USD/JPY: 92.00, 93.00, 93.50, 94.00; EUR/JPY: 125.00; EUR/GBP: 0.8450, 0.8600. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-25/21669-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 25, 2013 Author Share Posted February 25, 2013 Market Analytics:FBS Markets Inc. GBP/USD: tips from the analysts GBP/USD has managed to regain some strength: the pair returned above $1.5100 after testing levels below $1.5000 earlier today. Support lies at $1.5075 and $1.5000 (psychological level). Commerzbank: GBP/USD may recover to $1.5375 and possibly to $1.5525 ahead of further weakness to $1.5000 and $1.4853 (61.8% retracement of the 2009 move). RBS: If GBP/USD stays today below the previous support region $1.5230/1.5350, pound will be vulnerable for further declined to with little support until $1.4780. Westpac: GBP/USD looks like it may target levels below $1.50. However, pound has already lost 7% vs. the greenback. It doesn’t look like the start of the long-term downtrend. Sterling’s cheap and one might consider the idea of buying it.” BBH: GBP/USD may decline to $1.50/$1.48 and possibly even back down to the $1.35 area in the somewhat longer term. If GBP/USD regains the $1.57/$1.56 area, it would negate this view. Chart. H4 GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-25/21673-gbpusd-tips-analysts Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 25, 2013 Author Share Posted February 25, 2013 Market Analytics:FBS Markets Inc. USD/CAD: Canada’s unsteady on its feet Canadian retail sales survived in Dec. the biggest drop since June 2010 low, while the nation’s inflation rate reached 3-year minimum. So, Canadian dollar dropped and USD/CAD reached an 8-month high of 1.0255 on Friday. Last week USD/CAD closed above the weekly Ichimoku cloud (1.0190). The next important level to watch is the 200-day EMA (1.0270). This line has been successfully capping the pair’s attempts to recover since Sept. 2009, so it may represent a strong obstacle for the bulls now. Brown Brothers Harriman, however, expects USD/CAD to rise towards 1.0450/0500. USD is overbought at D1 and H4 and there’s a divergence at the latter – sings of potential correction – watch for support at 1.0200, 1.0160 and 1.0200. Resistance is at 1.0256 (Friday’s high), 1.0270 and 1.0300. Pay attention to today’s Bank of Canada’s Governor Carney speech at 17:15 GMT. This month we’ve already seen weak data from Canada: employment unexpectedly fell in Jan. for the first time in six months and manufacturing sales dropped in Dec. Canadian economy is clearly in worse shape than it used to be, so Carney may sound more dovish (CAD-negative). On Friday Canada will release 4Q/December GDP figures. Chart. Weekly USD/CAD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-25/21675-usdcad-canadas-unsteady-its-feet Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 25, 2013 Author Share Posted February 25, 2013 Market Analytics:FBS Markets Inc. USD/CAD: Canada’s unsteady on its feet Canadian retail sales survived in Dec. the biggest drop since June 2010 low, while the nation’s inflation rate reached 3-year minimum. So, Canadian dollar dropped and USD/CAD reached an 8-month high of 1.0255 on Friday. Last week USD/CAD closed above the weekly Ichimoku cloud (1.0190). The next important level to watch is the 200-day EMA (1.0270). This line has been successfully capping the pair’s attempts to recover since Sept. 2009, so it may represent a strong obstacle for the bulls now. Brown Brothers Harriman, however, expects USD/CAD to rise towards 1.0450/0500. USD is overbought at D1 and H4 and there’s a divergence at the latter – sings of potential correction – watch for support at 1.0200, 1.0160 and 1.0200. Resistance is at 1.0256 (Friday’s high), 1.0270 and 1.0300. Pay attention to today’s Bank of Canada’s Governor Carney speech at 17:15 GMT. This month we’ve already seen weak data from Canada: employment unexpectedly fell in Jan. for the first time in six months and manufacturing sales dropped in Dec. Canadian economy is clearly in worse shape than it used to be, so Carney may sound more dovish (CAD-negative). On Friday Canada will release 4Q/December GDP figures. Chart. Weekly USD/CAD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-25/21675-usdcad-canadas-unsteady-its-feet Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 26, 2013 Author Share Posted February 26, 2013 Market Analytics:FBS Markets Inc. Feb. 26: Asian session EUR/USD slipped to $1.3040. Italian election results point at the hung parliament, so the nation may need another vote. Forecasts by state broadcaster RAI showed Bersani winning the lower chamber and former Prime Minister Silvio Berlusconi with a blocking minority in the Senate. USD/JPY is just below 92.00 after yesterday touching the lowest level since Jan. 31 at 90.87. Yen was bought as a safe haven from the European woes. GBP/USD rose to $1.5200. The Bank of England Governor Mervyn King will speak in Tokyo at 06:00 GMT. AUD/USD is trading on the upside within this week’s range of $1.0250/0315 as advances in metal prices supported demand for the currency. NZD/USD is 20 pips up from $0.8320. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-26/21680-feb-26-asian-session Quote Link to comment Share on other sites More sharing options...
internationallove Posted February 26, 2013 Author Share Posted February 26, 2013 Market Analytics:FBS Markets Inc. Italy: old-new reason for concerns Italy has got into a very difficult political situation. Although Pier Luigi Bersani’s centre-left coalition will control the lower house of Italian parliament, it doesn’t have a decisive majority in Senate, so the future government won’t be able to work efficiently and rely on key laws being passed. As a result, there’s no certainty now that Italy will stick to austerity measures undertaken under Monti’s technocrat government. The election has clearly shown an anti-austerity feeling which is gaining strength in Europe. Analysts are now speaking about the grand coalition government of left and right-wing powers – some think that it would be a temporary solution until modifying Italy’s electoral law and another vote before summer, some claim that it will actually work out for longer. No matter what exactly happens, the market’s confidence in EUR seems to evaporate. Italian economy is much bigger than the Greek one, so political instability here might have a stronger negative effect on the single currency. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-02-26/21692-italy-old-new-reason-concerns Quote Link to comment Share on other sites More sharing options...
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