Guest forexpros Posted October 5, 2010 Report Share Posted October 5, 2010 ForexPros Daily News October 5, 2010 Free webinar on ForexPros - Top 12 Golden Trading Tips: Start Your Day on the Right Side of the Market Expert: Stephanie Radkay When: Mon, Thu, Oct 7, 2010, 11:00 ET Trading can be as risky as flying a plane. Pilots use a checklist to get off the ground and so should traders. Here is your 12 tip checklist to give you the confidence and the best opportunity for success. In this webinar Stephanie Radkay, CME Floor Broker, Screen Trader and Educator, will address personal vs. market risk like you've never seen it before, her Rotating Directional Trading System (RDS) and 10 other golden nuggets that have been used successfully since 1993. Click here to join free --- Forex - USD/JPY erases gains amid Fed stimulus concerns Forex Pros – The U.S. dollar erased gains against the yen on Tuesday, retreating from a 4-day high, amid concerns that the Federal Reserve may implement further quantitative easing in the coming months. USD/JPY retreated from 83.97, the pair’s highest since September 29, to hit 83.33 during European morning trade, shedding 0.02%. The pair was likely to find support at 82.92, the low of September 15 and a 15-year low and resistance at 84.33, the high of September 28. Earlier in the day, the Bank of Japan announced that it had lowered its benchmark interest rate to a range of between 0.0% to 0.1%, the lowest level since 2006. The bank said that, “although Japan's economy still shows signs of a moderate recovery, the pace of recovery is slowing down partly due to the slowdown in overseas economies and the effects of the yen's appreciation on business sentiment”. Meanwhile, the yen was down against the euro, with EUR/JPY gaining 0.64% to hit 114.82. Late Monday, while addressing a forum in Rhode Island, Federal Reserve Chairman Ben Bernanke said that that the central bank’s first round of large-scale asset purchases improved the economy and that further buying will probably help more. --- Daily Forex News Provided By Forexpros --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 6, 2010 Report Share Posted October 6, 2010 ForexPros Daily News October 6, 2010 Free webinar on ForexPros - Top 12 Golden Trading Tips: Start Your Day on the Right Side of the Market Expert: Stephanie Radkay When: Mon, Thu, Oct 7, 2010, 11:00 ET Trading can be as risky as flying a plane. Pilots use a checklist to get off the ground and so should traders. Here is your 12 tip checklist to give you the confidence and the best opportunity for success. In this webinar Stephanie Radkay, CME Floor Broker, Screen Trader and Educator, will address personal vs. market risk like you've never seen it before, her Rotating Directional Trading System (RDS) and 10 other golden nuggets that have been used successfully since 1993. Click here to join free --- Forex - GBP/USD hits fresh 2-month high as dollar slumps Forex Pros – The pound edged higher against the U.S. dollar on Wednesday, rising to a fresh 2-month high as concerns that the Federal Reserve will begin fresh monetary easing to stimulate U.S. growth weighed on the dollar. GBP/USD hit 1.5940 during European morning trade, the pair’s highest since August 9; the pair subsequently consolidated at 1.5990, gaining 0.07%. Cable was likely to find support at 1.5751, Tuesday’s low and resistance at 1.5995, the high of August 9. The Bank of Japan's decision on Tuesday to cut interest rates to near zero and embark on a monetary easing program further added to fears that the Fed would follow suit. On Monday, Fed Chairman Ben Bernanke said that the bank aided the U.S. economy through its USD 1.75 trillion purchases of mortgage debt and Treasuries that ended in March 2010 and that more buying would help further. Meanwhile, the pound was down against the euro, with EUR/GBP gaining 0.10% to hit 0.8717. Later in the day, the U.S. was to release ADP non-farm payrolls data. --- Daily Forex News Provided By Forexpros --- Disclaimer: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 7, 2010 Report Share Posted October 7, 2010 ForexPros Daily News October 7, 2010 Forex - USD/JPY tumbles to new 15-year low as intervention sidelined Forex Pros – The U.S. dollar tumbled to a fresh 15-year low against the yen on Thursday, as the threat of renewed Japanese intervention was sidelined ahead of Friday’s Group of 20 Washington summit. USD/JPY hit 82.25 during European morning trade, the pair’s lowest since May 29, 1995; the pair subsequently consolidated at 82.39, tumbling 0.64%. The pair was likely to find support at 80.75, the low of April 20, 1995 and resistance at 83.26, Wednesday’s high. Japanese intervention ahead of Friday’s meeting of financial ministers and central bankers from the G20 nations would create difficult questions for Japanese authorities, forcing them to explain that they are not just pushing the yen lower to gain a trade advantage against other nations. The yen was also up against the euro, with EUR/JPY shedding 0.24% to hit 115.23. Later in the day, the U.S. was to release key weekly data on initial jobless claims. --- Daily Forex News Provided By Forexpros --- Disclaimer: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 11, 2010 Report Share Posted October 11, 2010 ForexPros Daily News October 11, 2010 Forex - Euro retreats from 1.40 as dollar firms up Forex Pros – The euro was down against the U.S. dollar on Monday, retreating from a daily high, as the dollar stabilized despite expectations of further monetary easing by the Federal Reserve. EUR/USD retreated from 1.4010, the daily high to hit 1.3936 during early European trade, shedding 0.52%. The pair was likely to find support at 1.3832, last Friday’s low and short-term resistance at 1.4028, last Thursday’s high. Data released on Friday showed that U.S. non-farm payrolls fell unexpectedly in September, down for the fourth consecutive month. The weak data reinforced expectations that the Federal Reserve will announce new quantitative easing asset buying in order to boost the flagging U.S. economy. The euro was also down against the pound, with EUR/GBP shedding 0.23% to hit 0.8747. Also Friday, Jean-Claude Juncker, the head of the euro zone’s finance ministers, said that the euro was too strong and the single currency’s strength did not reflect the region's economic fundamentals. --- Daily Forex News Provided By Forexpros Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 12, 2010 Report Share Posted October 12, 2010 ForexPros Daily News October 12, 2010 Forex - USD/JPY resumes slide as Japan poised for intervention Forex Pros – The U.S. dollar was down against the yen on Tuesday, re-approaching Friday’s 15-year low, as Japanese authorities indicated that they were poised to take “bold” action if the yen continued to strengthen. USD/JPY hit 81.81 during European morning trade, a fresh daily low; the pair subsequently consolidated at 81.95, shedding 0.13%. The pair was likely to find support at 81.38, Friday’s low and a 15-year low and resistance at 83.02, the high of October 7. Earlier in the day, Japanese Finance Minister Yoshihiko Noda said his government “will watch currencies with great interest and will take bold action, which includes intervention, if needed.” The message was reiterated by Economy Minister Banri Kaieda who said that an abrupt strengthening of the yen could hurt the nation’s recovery and that there was no change in the government’s stance to take decisive measures when necessary. The yen was also up against the euro, with EUR/JPY falling 0.64% to hit 113.14. Also Tuesday, official data showed that Japanese consumer confidence fell unexpectedly in September, down for the third consecutive month. --- Forex - GBP/USD edges lower ahead of key U.K. inflation data Forex Pros – The pound edged lower against the U.S. dollar on Tuesday, falling to hit a 2-day low, ahead of the release of a key report on U.K. consumer prices. GBP/USD hit 1.5859 during early European trade, the pair’s lowest since October 8; the pair subsequently consolidated at 1.5874, shedding 0.07%. Cable was likely to find support at 1.5751, the low of October 5 and resistance at 1.5964, the high of October 8. Late Monday, industry data from the British Retail Consortium said that retail sales rose at an annualized rate of 0.5% in September, after rising by 1.0% in August. Also Monday, the Royal Institution of Chartered Surveyors said that house prices in the U.K. fell more-than-expected in September as oversupply in the British property market continued to act as a drag on prices. Meanwhile, the pound was up against the euro, with EUR/GBP shedding 0.32% to hit 0.8710. Later in the day, the U.K. was to publish official data on consumer price inflation. This is considered the U.K.'s most important inflation data because it's used as the central bank's inflation target. --- Daily Forex News Provided By Forexpros Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 13, 2010 Report Share Posted October 13, 2010 ForexPros Daily News October 13, 2010 Forex - USD/JPY edges higher as Fed signals move towards easing Forex Pros – The U.S. dollar edged higher against the yen on Wednesday, after minutes of the most recent meeting of Federal Reserve policy makers indicated that many believe fresh economic stimulus measures could become necessary. USD/JPY hit 82.00 during European morning trade, a daily high; the pair subsequently consolidated at 81.89, gaining 0.21%. The pair was likely to find support at 81.37, the low of October 11 and a 15-year low and resistance at 83.02, the high of October 7. On Tuesday, the minutes revealed of the September 21 meeting of Federal Open Market Committee revealed that while officials thought it unlikely the U.S. economy would fall into recession again, several were concerned that growth would not be strong enough to reduce unemployment for some time. "Several members noted that unless the pace of economic recovery strengthened or underlying inflation moved back toward a level consistent with the [Fed's] mandate, they would consider it appropriate to take action soon," the minutes said. The yen was also down against the euro, with EUR/JPY gaining 0.69% to hit 114.59. Earlier in the day, official data showed that Japanese core machinery orders jumped unexpectedly in August. --- Forex - GBP/USD hits daily high amid stronger Fed easing prospects Forex Pros – The pound was up against the U.S. dollar on Wednesday, rising to a daily high, after minutes of the most recent meeting of Federal Reserve policy makers revealed that many believed fresh economic stimulus would be necessary. GBP/USD hit 1.5869 during early European trade, a daily high; the pair subsequently consolidated at 1.5852, gaining 0.27%. Cable was likely to find support at 1.5753, Tuesday’s low and resistance at 1.6017, the high of October 7. "Several members noted that unless the pace of economic recovery strengthened or underlying inflation moved back toward a level consistent with the [Fed's] mandate, they would consider it appropriate to take action soon," the minutes said. Officials thought it unlikely the U.S. economy would fall into recession again, but several were concerned that growth would not be strong enough to reduce unemployment for some time. Meanwhile, the pound was down against the euro, with EUR/GBP gaining 0.02% to hit 0.8811. Later in the day, the U.K. was to publish official data on claimant count change and the country’s unemployment rate. --- Daily Forex News Provided By Forexpros Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 14, 2010 Report Share Posted October 14, 2010 ForexPros Daily News October 14, 2010 Greenback Tumbles as Dollar Selling Intensifies --- Forex - USD/JPY tumbles to 15-year low amid intervention fears Forex Pros – The U.S. dollar tumbled to a fresh 15-year low against the yen on Thursday, as selling pressure on the dollar intensified following a surprise decision by Singapore’s central bank to tighten monetary policy. USD/JPY hit 81.04 during European morning trade, the pair’s lowest since April 20 1995; the pair subsequently consolidated at 81.12, tumbling 0.83%. The pair was likely to find support at 79.75, the low of April 19, 1995 and the all time low and resistance at 82.34, Wednesday’s high. Earlier Thursday, the Monetary Authority of Singapore tightened policy, broadening the range of the Singapore dollar's trading band. At the same time, the authorities said they were maintaining a policy of "modest and gradual appreciation" of the local dollar. MAS sets policy by managing the Singapore dollar in a secret trade-weighted band against a basket of currencies, instead of setting interest rates. The move increased pressure on the greenback which has already weakened broadly amid expectations that the Federal Reserve will begin to implement further monetary easing in an effort to stimulate growth. Meanwhile, the yen was down against the euro, with EUR/JPY gaining 0.14% to hit 114.35. Earlier in the day, Japanese Finance Minister Yoshihiko Noda refused to comment on the yen's sharp appreciation.On Tuesday, Minister Noda said his government would take "bold action, which includes intervention, if needed.” --- Forex - Euro soars to 10-month high against broadly weaker dollar Forex Pros – The euro surged to a 10-month high against the U.S. dollar on Thursday, after a surprise decision by the Monetary Authority of Singapore to tighten monetary policy intensified selling pressure on the U.S. dollar. EUR/USD hit 1.4101 during late Asian trade, the pair’s highest since January 26; the pair subsequently consolidated at 1.4094, soaring 0.93%. The pair was likely to find support at 1.3911, Wednesday’s low and resistance at 1.4294, the high of January 20. Earlier in the day, Singapore’s central bank tightened policy, broadening the range of the Singapore dollar's trading band. At the same time, the authorities said they were maintaining a policy of "modest and gradual appreciation" of the local dollar. MAS sets policy by managing the Singapore dollar in a secret trade-weighted band against a basket of currencies, instead of setting interest rates. The move increased pressure on the greenback which has already weakened broadly amid expectations that the Federal Reserve will begin to implement further monetary easing in an effort to stimulate growth. The euro was also up against the pound, with EUR/GBP gaining 0.08% to hit 0.8789. Later in the day, the U.S. was to publish official data on initial jobless claims, as well as data on inflation and the country's trade balance. --- Daily Forex News Provided By Forexpros --- Disclaimer: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 20, 2010 Report Share Posted October 20, 2010 ForexPros Daily News October 20, 2010 Forex - USD/JPY moves lower, re-approaching 15-year low Forex Pros – The U.S. dollar was down against the yen on Wednesday, re-approaching a 15-year low as market focus returned to the prospect of further monetary easing by the Federal Reserve. USD/JPY hit 81.20 during European morning trade, a daily low; the pair subsequently consolidated at 81.26, shedding 0.39%. The pair was likely to find support at 80.87, last Friday’s low and a 15-year low and resistance at 82.55, the high of October 8. Earlier in the day, Bank of Japan deputy governor Kiyohiko Nishimura said the strong yen could erode corporate sentiment and lower consumer prices, exacerbating deflation and restricting economic growth. “The fact that the recent appreciation of the yen is deteriorating business sentiment” is a “big factor in putting downward pressure on economic activity,” Nishimura said. He added that the bank will continue to pursue “strong” monetary policy measures and stands ready to take appropriate monetary action. Meanwhile, the yen was down against the euro, with EUR/JPY gaining 0.17% to hit 112.17. Later in the day, the Federal Reserve was to release its Beige Book, a summary of the data the bank examines before setting the benchmark interest rate. --- Forex - EUR/USD rebounds from 11-day low as focus returns to Fed Forex Pros – The euro was up against the U.S. dollar on Wednesday, rebounding from an 11-day low as focus turned back onto the prospect of further monetary easing by the Federal Reserve. EUR/USD hit 1.3801 during late Asian trade, a daily high; the pair subsequently consolidated at 1.3792, gaining 0.46%. The pair was likely to find support at 1.3636, the low of October 5 and resistance at 1.4155, last Friday’s high and a 10-month high. On Tuesday, three regional Fed presidents reinforced that the central bank will begin a second round of asset purchases with two saying asset purchases must be big enough to aid the economy. Chicago Fed president Charles Evans said the bank would need to buy securities on a large scale several times in order to temporarily to raise inflation. Meanwhile, Atlanta Fed president Denis Lockhart said that a rate of USD 100 billion of purchases per month is “in the range of numbers one might consider.” The euro was also up against the pound, with EUR/GBP gaining 0.38% to hit 0.8775. Later in the day, the Federal Reserve was to release its Beige Book, a summary of the data the bank examines before setting the benchmark interest rate. --- Daily Forex News Provided By Forexpros --- Disclaimer: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 21, 2010 Report Share Posted October 21, 2010 ForexPros Daily News October 21, 2010 Forex - EUR/USD edges higher after Geithner remarks Forex Pros – The euro edged higher against the U.S. dollar on Thursday, erasing early losses, following remarks by U.S. Treasury Secretary Timothy Geithner. EUR/USD hit 1.3975 during late Asian trade, a daily high, the pair subsequently consolidated at 1.3973, gaining 0.07%. The pair was likely to find support at 1.3636, the low of October 5 and resistance at 1.4155, last Friday’s high and a 10-month high. In an interview with the Wall Street Journal Geithner said he believes major currencies are "roughly in alignment now," suggesting he sees no need for further dollar falls against the euro and yen. He also called on G20 finance leaders to agree to "norms" on exchange rate policy ahead of the weekend G20 meetings and said he would seek out targets for "sustainable" trade surpluses and deficits as a way to help rebalance the global economy. The euro was also up against the pound, with EUR/GBP gaining 0.50% to hit 0.8856. On Tuesday, the Federal Reserve’s Beige Book reported that "national economic activity continued to rise, albeit at a modest pace" from September through early October. This was in contrast with the previous beige book, released in early September, which reported "widespread signs of deceleration compared with previous periods." --- Forex - USD/JPY erases gains, re-approaching 15-year low Forex Pros – The U.S. dollar erased gains against the yen on Thursday, falling to a fresh daily low, following remarks by Japan’s Chief Cabinet Secretary. USD/JPY retreated from 81.81, the pair’s highest since Tuesday, to hit 80.97 during European morning trade, shedding 0.12%. The pair was likely to find short-term support at 80.87, the low of October 15 and a 15-year low and resistance at 82.34, the high of October 12. Earlier in the day, Japan’s Chief Cabinet Secretary Yoshito Sengoku said Japan hadn’t set a line to defend its currency at 82 yen per dollar after the country’s prime minister and finance minister held a meeting to discuss the yen’s gains. “It wasn’t about whether 82 yen was the line, but that the Finance Ministry will monitor the currency markets and we’ll take decisive measures appropriately at an appropriate timing,” Sengoku said. Meanwhile, the yen was down against the euro, with EUR/JPY gaining 0.07% to hit 113.33. The dollar’s earlier gains came after U.S. Treasury Secretary Timothy Geithner said he believed major currencies are "roughly in alignment now," suggesting he sees no need for further dollar falls against the euro and yen. --- Daily Forex News Provided By Forexpros --- Disclaimer: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 25, 2010 Report Share Posted October 25, 2010 ForexPros Daily Analysis October 25, 2010 Free webinar on ForexPros - Forex Fundamentals Expert: Curt Wehrley When: Tuesday, Oct 26, 2010, 10:00 ET A review of the top fundamental news events over the prior month, and a look ahead and the news that could influence the foreign exchange market over the coming weeks. Click here to join free --- Forex Analysis For GBP/USD and GBP/JPY 1) Forex Trading Signal For GBPJPY Forex Trend Analysis The overall trend for this currency pair is DOWN for the week Forex Technical Analysis Weekly Chart Similar to the movement last week, the GBPJPY pair continues to move within the trend channel and in fact testing the 127.616 previous swing low. 4 Hourly Chart On the 4 hourly chart, you will also see a trend channel in action. At the time of writing this analysis, the price has fell to test the support trend line of the trend channel. Overall Forex Analysis I will go SHORT for this pair but I have to make sure that the price successfully broken the trend channel before considering any SHORT trade. Important Levels of Support To Note • 127.077 • 126.735 --- 2) Forex Trading Signal For GBPUSD Forex Trend Analysis From the trend analysis that I have done on several time frames, the trend for this pair is DOWN for the week. Forex Technical Analysis 4 Hourly Chart The GBPUSD on this time frame is trying to break above the resistance trend line which is at the same level as the Fibonacci 0.500. At the time of writing, the price has failed to break above and instead is being repelled by the resistance trend line. Hourly Chart After testing the M4 Daily pivot for 4 times consecutively, the price has fallen sharply showing the strength of that resistance level. In fact, at that level, there is also a 0.500 Fibonacci resistance which adds on to the power of that level. Overall Forex Analysis I will go SHORT for this pair and the best will be after it broke below the strong support at 1.56573. Important Levels of Support To Note • 1.56573 --- Forex trading analysis written by Kelvin Lee for Forexpros. --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 26, 2010 Report Share Posted October 26, 2010 ForexPros Daily News October 26, 2010 Forex - GBP/USD soars to 4-day high after upbeat U.K. GDP data Forex Pros – The pound was up against the U.S. dollar on Tuesday, soaring to a 4-day high after the release of significantly better-than-expected U.K. third quarter GDP data. GBP/USD hit 1.5869 during European morning trade, the pair’s highest since October 20; the pair subsequently consolidated at 1.5859, soaring 0.87%. Cable was likely to find support at 1.5663, Monday’s low and resistance at 1.6002, the high of October 18. Earlier in the day, the U.K. Office for National Statistics said that GDP increased by a seasonally adjusted 0.8% in the third quarter, after rising by a revised 1.2% in the preceding quarter. Analysts had expected GDP to rise 0.4% in the third quarter. The report said that the increase was due to strong growth in the services, production and construction sectors. Total services output rose 0.6% in the third quarter while total production output also rose 0.6% and construction output rose 4.0%. The pound was also up against the euro, with EUR/GBP tumbling 0.89% to hit 0.8802. Later in the day, the U.S. was to release industry data on consumer confidence and house prices as well as official data on manufacturing. --- Forex - EUR/USD turns lower as dollar sentiment firms up Forex Pros – The euro edged lower against the U.S. dollar on Tuesday, falling to a 2-day low, as the dollar firmed up on the sense that expectations for further monetary easing by the Federal Reserve were already priced into the market. EUR/USD hit 1.3907 during early European trade, the pair’s lowest since October 22; the pair subsequently consolidated at 1.3949, shedding 0.10%. The pair was likely to find support at 1.3857, Friday’s low and resistance at 1.4157, the high of October 15 and an 8-month high. Earlier in the day, data showed that Germany’s Gfk consumer climate outlook for November remained unchanged at 4.9, after rising for in the four preceding months. Analysts had expected the outlook for November to rise to 5.2. The economic expectation indicator rose by 2.5 points in October to 56, up for the fifth consecutive month. The report said that consumers expect that the German economy will continue to recover based on positive trends in the labor market. Also Tuesday, official data showed that German import prices rose more-than-expected in September. Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.40% to hit 0.8846. Later in the day, the U.S. was to release industry data on consumer confidence and house prices as well as official data on manufacturing. --- Daily Forex News Provided By Forexpros --- Disclaimer: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 27, 2010 Report Share Posted October 27, 2010 ForexPros Daily News October 27, 2010 Forex – EUR/USD tumbles to 5-day low on Fed easing doubts Forex Pros – The euro was down against the U.S. dollar on Wednesday, tumbling to a 5-day low after signs emerged that the second round of quantitative easing by the Federal Reserve may not be as large as anticipated. EUR/USD hit 1.3772 during late Asian trade, the pair’s lowest since October 20; the pair subsequently consolidated at 1.3774, shedding 0.61%. The pair was likely to find short-term support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday’s high. Late Tuesday, a report in the Wall Street Journal said that the Fed is likely to unveil a program of U.S. Treasury bond purchases worth a few hundred billion dollars over several months. The report was contrary to rising market expectations of purchases in excess of USD 1 trillion. The report said that the bank favored an approach that allowed them to adjust policy as the economic recovery unfolded, with the ability to make more purchases in the future if necessary. The euro was also down against the pound, with EUR/GBP shedding 0.06% to hit 0.8741. Later in the day, the U.S. was to publish data on durable goods orders and new home sales. --- Forex - AUD/USD down on economic data The Australian Dollar was lower against the U.S. Dollar on Wednesday after the release of Australian data on CPI. AUD/USD was trading at 0.9744, down 1.11% at time of writing. The pair was likely to find support at 0.9720, today’s low, and resistance at 0.9974, Monday’s high. Earlier in the day, official data showed that Australian consumer price inflation rose less-than-expected to a seasonally adjusted 0.70% in the last quarter from 0.60% in the preceding quarter. Analysts had expected CPI to rise 0.80% in the last quarter. Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.82% to hit 1.4182 and AUD/JPY falling 0.71% to hit 79.68. --- Daily Forex News Provided By Forexpros --- Disclaimer: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Link to comment Share on other sites More sharing options...
Guest forexpros Posted October 28, 2010 Report Share Posted October 28, 2010 ForexPros Daily News October 28, 2010 Forex - EUR/USD hits daily high as dollar reverses uptrend Forex Pros – The euro was up against the U.S. dollar on Thursday, rising to hit a daily high as the dollar reversed its recent uptrend. EUR/USD hit 1.3853 during late Asian trade, a daily high; the pair subsequently consolidated at 1.3812, gaining 0.32%. The pair was likely to find support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday’s high. Earlier in the week, the dollar had been boosted by a report that the U.S. Federal Reserve was likely to unveil a program of U.S. Treasury bond purchases worth a few hundred billion dollars over several months. The report was contrary to rising market expectations of purchases in excess of USD 1 trillion. The euro was also up against the pound, with EUR/GBP gaining 0.41% to hit 0.8767. Later in the day, the U.S. was to release key weekly data on initial jobless claims. --- Forex - USD/JPY hits 2-day low as BOJ hold steady on policy Forex Pros – The U.S. dollar fell to a to a 2-day low against the yen on Thursday, after the Bank of Japan held its benchmark interest rate steady but moved the date of its next policy meeting up to just after the next meeting of Federal Reserve policy makers. USD/JPY hit 81.23 during European morning trade, the pair’s lowest since October 26; the pair subsequently consolidated at 81.35, shedding 0.51%. The pair was likely to find support at 80.61, the low of October 26 and resistance at 81.97, Wednesday’s high. Earlier in the day, the Bank of Japan kept its benchmark interest rate unchanged in a range of 0.0% to 0.1%, in line with expectations. The bank said it moved its meeting to November 4-5 from mid-November to speed up the roll-out of a JPY 5-trillion asset buying plan, which the bank unveiled early this month. The BOJ made no mention of the Federal Reserve November 2-3 rate review but the move sparked speculation that the BOJ wanted to be able to act quickly in the event of further yen gains. The yen was also up against the euro, with EUR/JPY shedding 0.23% to hit 112.32. Also Thursday, official data showed that Japanese retail sales rose significantly less-than-expected in September, rising at the slowest pace this year. --- Daily Forex News Provided By Forexpros --- Disclaimer: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Link to comment Share on other sites More sharing options...
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