Archive for October 22nd, 2009

 

GBP/USD Mid-Day Outlook

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

GBP/USD’s sharp fall and break of 1.6484 minor support indicates that a short term top is in place, with bearish divergence conditions in 4 hours MACD and RSI. Intraday bias is turned neutral for the moment. Note that while the rebound from 1.5706 was strong, it was still limited below…

Mid-Day Report: Sterling Pounded by GDP Shock

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

Sterling reverses recent gains and falls sharply after the release of much worse than expected Q3 GDP report. The UK economy unexpectedly shrank -0.4% qoq in Q3 versus expectation of 0.2% growth. Year-over-year rate also disappointed by contracting at -5.2%. The data marked the sixth consecutive quarters of decline in…

Eurozone: Manufacturing and Services Booms, Adding to Recovery Signs

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

Following bleak data released last week, the euro zone released today important economic data showing that the economy is on the right track towards recovery. At the moment, there are more talks that the economy will grow in the third quarter after the decline in contraction in the second quarter…

Eurozone: Manufacturing and Services Booms, Adding to Recovery Signs

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

Following bleak data released last week, the euro zone released today important economic data showing that the economy is on the right track towards recovery. At the moment, there are more talks that the economy will grow in the third quarter after the decline in contraction in the second quarter…

FX Thoughts for the Day

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

Cable crashed post dismal GDP data release. The free fall from 1.6793 can possibly be contained near 1.6318-6290. This week, it has risen on the Support of the 8-week MA at 1.6221, that might be tested on a break of the above Support. Rather stay from the pair for a…

GBP Sharply Lower Pressured by Decline in UK GDP

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

The USD is trading mixed to higher with GBP sharply lower pressured by report of a surprise decline in UK Q3 GDP, EUR rises to new high for 2009 supported by gains in cross trade to GBP and in reaction to EU flash manufacturing PMI which rose to a 22…

GBP Sharply Lower Pressured by Decline in UK GDP

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

The USD is trading mixed to higher with GBP sharply lower pressured by report of a surprise decline in UK Q3 GDP, EUR rises to new high for 2009 supported by gains in cross trade to GBP and in reaction to EU flash manufacturing PMI which rose to a 22…

Forex Economic Calendar

Oct 22, 2009 in Grow Financially, Opportunities

Date Time* Source Description Forecast Previous
10/23/2009 00:30 AUS Import Price Index (QoQ) -2.8% -6.4%
10/23/2009 07:30 GE PMI Manufacturing 50.1 49.6
10/23/2009 08:00 GE IFO Surveys n/a n/a
10/23/2009 08:30 UK GDP (YoY) -4.6% -5.5%
10/23/2009 09:00 EU Industrial New Orders SA (YoY) -22.5% -24.3%
10/23/2009 14:00 US Existing Home Sales 5.40M 5.10M
10/26/2009 00:01 UK Hometrack Housing Survey (YoY) n/a -5.6%
10/26/2009 00:30 AUS PPI (YoY) n/a 2.1%
10/26/2009 07:00 GE GfK Consumer Confidence Survey n/a 4.3
10/26/2009 12:30 US Chicago Fed Nat Activity Index n/a -0.90
10/26/2009 14:30 US Dallas Fed Manf. Activity n/a -6.4%
10/27/2009 09:00 EU Euro-Zone M3 s.a. (YoY) n/a 2.5%
10/27/2009 11:00 UK U.K. CBI October Distributive Trades n/a n/a
10/27/2009 13:00 US S&P/CS Composite-20 YoY -11.30% -13.30%
10/27/2009 14:00 US Consumer Confidence 54.4 53.1
10/27/2009 21:00 US ABC Consumer Confidence n/a n/a
10/27/2009 23:50 JPN Retail Trade YoY n/a -1.8%
10/28/2009 00:30 AUS Consumer Prices (YoY) n/a n/a
10/28/2009 01:00 AUS DEWR Skilled Vacancies MoM n/a 1.2%
10/28/2009 02:00 NZ NBNZ Business Confidence n/a 49.1
10/28/2009 12:30 US Durable Goods Orders 0.5% -2.4%
10/28/2009 14:00 US New Home Sales 440K 429K
10/28/2009 20:00 NZ RBNZ Official Cash Rate 2.50% 2.50%
10/28/2009 21:45 NZ Trade Balance n/a -725M
10/28/2009 23:50 JPN Industrial Production YoY% n/a -19.0%
10/29/2009 00:00 AUS Conference Board Leading Index n/a 0.7%
10/29/2009 01:00 AUS HIA New Home Sales (MoM) n/a 11.4%
10/29/2009 02:00 NZ Money Supply M3 YoY n/a 3.5%
10/29/2009 04:00 JPN Vehicle Production (YoY) n/a -25.9%
10/29/2009 08:55 GE Unemployment Change (000′s) n/a -12K
10/29/2009 09:30 UK M4 Money Supply (YoY) n/a n/a
10/29/2009 10:00 EU Business Climate Indicator n/a -2.07
10/29/2009 12:30 CA Industrial Product Price MoM n/a 0.5%
10/29/2009 12:30 US Initial Jobless Claims n/a n/a
10/29/2009 12:30 US Continuing Claims n/a n/a
10/29/2009 21:45 NZ Building Permits MoM n/a 1.7%
10/29/2009 23:50 JPN Natl CPI YoY n/a -2.2%
10/30/2009 00:00 JPN BoJ Target Rate n/a 0.10%
10/30/2009 00:01 UK GfK Consumer Confidence Survey n/a -16
10/30/2009 00:30 AUS Private Sector Credit YoY% n/a 2.5%
10/30/2009 05:00 JPN Housing Starts (YoY) n/a -38.3%
10/30/2009 10:00 EU Euro-Zone Unemployment Rate n/a 9.6%
10/30/2009 12:30 CA GDP MoM n/a 0.0%
10/30/2009 12:30 US PCE Core (YoY) 1.3% 1.3%
10/30/2009 13:45 US Chicago Purchasing Manager 48.3 46.1
10/30/2009 14:00 US U. of Michigan Confidence 72.2 69.4
10/30/2009 20:15 US Bloomberg FCI Monthly n/a n/a

* Times listed are GMT

Currency Technical Report

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

Our lower targets were achieved during yesterday?s highs, but retracements remained weak, indicating that buyers still dominate. Important resistance emerges at 1,5100 area, which is the most possible target. As you can see in the daily chart two different channels are met at these levels and these levels should not…

EURJPY: On The Verge Of Breaking Triangle Pattern

Oct 22, 2009 in Grow Financially, Investment Protection, Opportunities

With our previous and recent calls for a trade towards and an eventual break of its symmetrical triangle top at 138.02, that level is currently under attack as the time of this analysis. On a decisive break of there, risk will turn to the 138.71 level where its Aug 07?09…