View Single Post
Old 31-03-2014, 12:44
FBS's Avatar
FBS FBS is offline
Level IV Lasers Member
Join Date: Jul 2013
Posts: 120
Default Re: Market news and trade recommendations by FBS

Mar. 31: Asian session

Asian shares rose. The MSCI Asia Pacific Index climbed 0.5%. Japanese Nikkei rose by 0.65%.

USD/JPY opened with a small gap up at 102.94, but then edged a bit down. Japanese preliminary industrial production fell by 2.3%. US dollar strengthened a bit before Federal Reserve Chair Janet Yellen speaks and ahead of figures tomorrow that may show US manufacturing strengthened this month.

Commodity currencies are retracing from the Friday’s highs in Asia. AUD/USD extends the correction from the recent peak of $0.9300. Aussie found support at $0.9220 as of writing. Aussie is seen under pressure ahead of the tomorrow RBA meeting (no policy changes expected). NZD/USD follows the Australian counterpart, weakening from the Friday’s high of $0.8695 to $0.8660. NZ business confidence came below the forecast in March (67.3 vs. previous 70.8). Gold has slightly recovered from the Friday’s low of 1285.

EUR/USD is trading in the $1.3750 area after opening with a gap up at $1.3762. On Friday the single currency dipped to $1.3700 and formed a “hammer”. Euro’s under pressure ahead of the central bank’s meeting this week. GBP/USD opened with a gap up at $1.6654, but then slid down by 20 pips.

CFTC: EUR net longs down

Here are the essentials of the latest Commitments of Traders (COT) report, released on March 28 by the Commodity Futures Trading Commission (CFTC) for a week ended on March 25.

According to the report, net long EUR positions fell from the last week's 5-month high of 52K to almost 40K contracts. Canadian dollar was the biggest mover of the week: net short contracts fell from 70K to 33K this week.







Reply With Quote