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| Currencies Continue to Consolidate Ahead of G20 (Midday Snapshot)
April 1, 2009 at 11:25 am
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| | The morning data releases are behind us and the market continues to largely consolidate ahead of the much anticipated G20 meeting on Thursday. On the whole,... |
| US Manufacturing Remains in Sharp Contraction
April 1, 2009 at 10:42 am
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| | ISM data for March shows US Manufacturing contracted for a 14th month as recession continues. The Manufacturing index reported higher at 36.3, slightly... |
| Swiss Franc Technical Outlook
April 1, 2009 at 10:42 am
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| | Like the EURUSD, the USDCHF may have resumed its longer term trend towards USD strength. Near term, bulls are in control as long as price is above 1.2222.... |
| Canadian Dollar Technical Outlook
April 1, 2009 at 10:41 am
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| | The short term USDCAD pattern suggests that we should be long, albeit at a better price. There are 5 waves up from 1.22, therefore expect a corrective... |
| Yen Technical Outlook
April 1, 2009 at 10:40 am
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| | The USDJPY is the epitome of frustration. After surging through 99, the pair kissed off of the 200 day SMA and has turned down. The long term wave structure... |
| New Zealand Dollar Technical Outlook
April 1, 2009 at 10:36 am
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| | I wrote last week that "there is a count in the NZDUSD that calls for a wave 2 high to form before .6090. If this is to occur, then a high should form... |
| Australian Dollar Technical Outlook
April 1, 2009 at 10:35 am
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| | "Price action in the AUDUSD since the October 2008 low has carved out what could be a head and shoulders continuation pattern. This is pure speculation... |
| British Pound Technical Outlook
April 1, 2009 at 10:33 am
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| | Price action since 1.35 is a 4th wave that will end as either a triangle or flat. I wrote last week that "since it looks as though the EURUSD long term... |
| Euro Technical Outlook
April 1, 2009 at 10:32 am
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| | My working assumption is that a wave 2 high is in place at 1.3740 (within what will be a 5 wave decline from 1.4723). It is quite possible that 1.3740... |
| Dollar Declines Viewed as Corrective and Should be Bought
April 1, 2009 at 10:17 am
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| | -EURUSD sell zone is 1.3415/50 -AUDUSD topping process -NZDUSD already topped -USDCAD long opportunity |
| USD/JPY Initially Gains on Stronger Than Expected ISM Manufacturing, Pending Home Sales
April 1, 2009 at 10:05 am
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| | US data was broadly better-than-expected this morning, which help to lift USD/JPY from roughly 98.60 up to resistance at 99.06. |
| EUR/USD: Trading the European Central Bank Interest Rate Decision
April 1, 2009 at 9:59 am
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| | The European Central Bank is widely expected to lower the benchmark interest rate by 50bp to a record-low of 1.00% as the outlook for growth and inflation... |
| What Are The Implications Of Quantitative Easing For Currency Markets?
April 1, 2009 at 9:59 am
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| | The G-20 Summit is set to begin on April 2nd and one of the topics of discussion will be the impact of the recent efforts of the major central banks to... |
| FX Focus Shifts to G20 Meeting; Sterling Outperforms (Morning Slices)
April 1, 2009 at 7:14 am
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| | Price action in the majors has been relatively stable overnight with the markets seemingly content on some consolidation ahead of a G20 meeting on Thursday... |
| German Retail Sales Unexpectedly Falls as Labor Market Deteriorates
April 1, 2009 at 7:01 am
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| | Retail spending in German unexpectedly fell 0.2% in February after falling 0.9% in the previous month, which lowered the annualized figure to -5.3%. Meanwhile,... |
| Tech Talk 04.01.2009
April 1, 2009 at 6:15 am
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| Sterling Rises As Manufacturing Activity Jumps, PM Gordon Brown Calls For Urgent Action At G-20
April 1, 2009 at 6:10 am
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| | The Pound would reach an intraweek high of 1.4111 on the back of a better than expected March manufacturing PMI reading that rose to a five month high... |
| Euro-Zone Unemployment Rate Rises to Three-Year High
April 1, 2009 at 5:35 am
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| | Euro-Zone February unemployment jumped to 8.5%. Expectations had been for a reading of 8.3% and with January numbers revised up to 8.3% from 8.2% data... |
| Dollar/Yen Buy Recommendation Issued at 97.75
April 1, 2009 at 5:16 am
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| U.K. Manufacturing PMI Surged to a Five-Month High
April 1, 2009 at 4:51 am
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| | U.K. March manufacturing PMI surged to a 5 month high of 39.1 from 34.9 (revised from 34.7) and well above our market median estimate for 35.1. The index... |
| Euro-Zone Manufacturing PMI Revised Down to 33.9 From 34.0
April 1, 2009 at 4:19 am
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| | Euro-Zone March manufacturing PMI was revised marginally down to 33.9 from 34.0 reported initially. This is still up from 33.5 in February, however. Readings... |
| German Retail Sales Unexpectedly Fall as Unemployment Rises
April 1, 2009 at 2:11 am
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| | German February retail sales dropped 0.2% m/m, after falling 0.9% m/m in January. Sales were down 5.3% y/y, after already declining 1.4% y/y in January.... |
| Post of the Day: Stop Placement
April 1, 2009 at 1:51 am
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| | Student's Question: I couldn't really find any good trades with either MACD or Slow Stochastics so went with a loser to see what you think. Maybe I could... |
| Chart of the Day: USD/CAD
April 1, 2009 at 1:49 am
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| | In keeping with yesterday's theme about potential USD strength, the USD/CAD daily chart seems to be the closest to matching the USD/INX chart shown yesterday. |
| Short-Term Forex Technical Outlook: GBP/JPY
April 1, 2009 at 1:31 am
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| | Fears of a deepening recession in the U.K. paired with a fall in risk appetite led the GBP/JPY to pullback from a three-month high, and the pair is likely... | | |
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