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  #41  
Old 16-08-2013, 17:07
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USD/CHF bounces from lows and erases losses




FXstreet.com (Córdoba) - The US dollar managed to trim losses versus most competitors after disappointing data sent the greenback to daily lows.

The USD/CHF bounced from a 4-day low of 0.9216, erasing intraday losses and rising back to the 0.9270 zone, where it is virtually unchanged on the day as another week comes to an end in Europe.

USD/CHF technical levels

As for technical levels, immediate resistances could be found at 0.9287 (daily high) and 0.9305 (100-hour SMA), while supports are now seen at 0.9216 (daily low) and 0.9200 (psychological level).



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  #42  
Old 16-08-2013, 17:50
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Flash: USD/JPY eyes upside, 98.67 the figure to break – UBS



FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.

Key quotes

Beginning with the USD/JPY, “Resistance is at 98.67, a close above this would extend the recent strength to 99.95 and then 101.53. Support is at 95.81 ahead of 93.79.

“The strength over the past two days reinforces the bullish theme, opening the way to test the critical resistance at 1.5752. Support is at 1.5496..”

Finally, in terms of the USD/CHF, “Fresh selling pressure materialized after testing the strong resistance at 0.9395. The risk is for a move below support at 0.9175 and test the important support at 0.9130.



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  #43  
Old 19-08-2013, 15:40
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[color=#0000FF]Flash: Technical Update on EUR and other majors – Danske Bank[/color]


FXstreet.com (Barcelona) - Strategist’s at Danske Bank wrote a Technical Update on number of majors.

Key Quotes:

“EUR/USD BUY AT 1.3305 FOR A 1.3456 OBJECTIVE; STOP AT 1.3255”.

“USD/JPY SHORT AT 97.85 FOR A 96.40 OBJECTIVE; STOP AT 98.55”.

“GBP/USD LONG AT 1.5617 FOR A 1.5753 OBJECTIVE; STOP AT 1.5565”.

“USD/CHF LOOK TO SELL”

“AUD/USD LONG AT .9090 FOR .9320, REVISE STOP AT 0.9132”


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  #44  
Old 19-08-2013, 15:49
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NZD/USD retreats from 3-month high


FXstreet.com (Córdoba) - The NZD/USD came under pressure during the European session and has been steadily receding ground ever since weighed by the decline in risk appetite.

NZD/USD dips back below 0.8100

NZD/USD dropped nearly 90 pips from highs, breaking below the 0.8100 mark to bottom out at 0.8076 in recent dealings. At time of writing, NZD/USD is trading at the 0.8080 zone, still 0.4% below its opening price.

NZD/USD technical levels

As for technical levels, immediate supports for NZD/USD could be found at 0.8076 (daily low), 0.8050 (100-hour SMA) and 0.8015 (10-day SMA). On the flip side, resistances are seen at 0.8105 (100-day SMA) and 0.8162 (3-month high scored earlier).


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  #45  
Old 19-08-2013, 16:17
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[color=#0000FF]US sells $25Bn in 6-month bills at 0.075%[/color]


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  #46  
Old 20-08-2013, 13:13
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Canada: Wholesale Sales dropped 2.8% in June


FXstreet.com (Edinburgh) -Canadian Wholesale Sales contracted 2.8% on a monthly basis during June, missing forecasts at -0.7% and down from May’s 2.2% advance (revised).


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  #47  
Old 20-08-2013, 13:26
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USD/CAD reaches 1.0400 on weak Canadian wholesale sales


FXstreet.com (Córdoba) - The USD/CAD extended gains to the 1.0400 area after data showed Canadian Wholesale Sales fell much more than expected in June (-2.8% vs 0.7% exp), weighing on the loonie.

USD/CAD broke above the 1.0375 zone and jumped to a fresh 2-week high of 1.0400 before the psychological level halted the rise. At time of writing, USD/CAD is trading at the 1.0390 zone, where it records a 0.5% gain on the day.

USD/CAD levels to watch

If USD/CAD manages to break above 1.0400, next resistances could be found at 1.0430 (Aug 8 high) and 1.0450 (Jul 11 high). On the other hand, supports are seen at 1.0345 (session low) and 1.0300 (psychological level).


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  #48  
Old 20-08-2013, 13:41
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Flash: CAD, nervous trading environment - TD Securities


FXstreet.com (Barcelona) - The CAD is opening up a little softer overall amid illiquid and somewhat nervous trading, said research teams at TD Securities.

Key Quotes:

“Developing market tensions remain front and centre but, for the most part, pressure on the likes of the INR and IDR have yet to spill more obviously over into the developed market space”.

“Investors are unsettled though as rising US yields imply Fed tapering expectations are setting more firmly into the market psyche.”

“Assets that have broadly benefitted from excess central bank liquidity such as large current account deficit, developing market currencies face a harder time attracting investment inflows and that trend is spilling over into the high beta FX pairs as well to some degree”.

“USD/CAD is firmer but spot may be close to the upper end of the intraday range as we open up out session. We spot short-term resistance in the 1.0375/80 zone, ahead of key resistance on the daily chart at 1.0425/45”.

“The technical picture turners more obviously bullish above here. Key support remains 1.0295/00 (rising trend support off the mid-June low) on the daily chart.”

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  #49  
Old 21-08-2013, 12:27
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GBP/JPY eye's 153.00


FXstreet.com (Barcelona) - GBP/JPY is testing the 153.00 handle ahead of tonight’s main event.

GBP/JPY has been a mixed pair while focus turned from GBP to Yen and back to GBP this week. Yields have been in the limelight with global bond prices looking to the Fed minutes this evening. Gareth Berry at UBS FX strategy had said that the US-Japan bond spread continues to widen in favour of USDJPY upside. “We look for more spread widening over the months ahead, as the Fed begins the process of QE3 tapering while the Bank of Japan continues to lean heavily on the JGB curve” Meanwhile, GBP/USD has been eyeing the 1.5700 psychological handle from the start of the week, but with the anticipation of the FOMC minutes coming up tonight, markets have been cautious around the outcome and trading has got off to a slow pace this week so far. The pair has remained in a tight range between 1.5630 and 1.5700. The calendar is very light this morning and afternoon for the pair, but again, the key focus today will clearly be the minutes from the July 30-31 FOMC as the market looks for signals in timing and scale of the Fed’s plans to taper its current QE policy.

GBP/JPY has a positive bias

GBP/JPY is trading with a positive bias yet again with the 20 DMA at 151.00, the 50 DMA at 150.90 and the 200 DMA is 145.90. RSI (9) prints 56.52. Supports are ascending from 149.80, 150.65, 151.20 and151.70. Spot is currently 152.77 while resistances are 153.10 153.60 154.05 154.65.

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  #50  
Old 21-08-2013, 12:53
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US Dollar Index challenges 81.00


FXstreet.com (Edinburgh) -The greenback, in terms of the US Dollar Index, is reverting the recent 2-day decline so far, hovering over the key support at 81.00 ahead of the FOMC minutes.

DXY under pressure

The USD would be under pressure today, as markets expectations point to a dovish tone from the FOMC minutes. “If USD selling is the result of today’s events, we would view that as a short term selling opportunity in consideration of the bigger picture outlook. The size and path of Fed tapering is not entirely certain, but in all likelihood should commence in the next month. In a broad sense, less accommodation should continue to be positive for yields and USD”, suggested G.Moore and S.Osborne, FX Strategists at TD Securities.

DXY support/resistance levels

At the moment the index is up 0.16% at 81.06 and a surpass of 81.94 (high Aug.15) would bring of 82.50 (high Aug.2) and then 83.12 (high Jul.15). On the downside, the initial support lies at 80.86 (low Aug.8) ahead of 80.75 (low Aug.20) and then 80.50 (low Jun.19).

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  #51  
Old 21-08-2013, 13:01
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USD/JPY still upwards ahead of FOMC release


FXstreet.com (Athens) - USD/JPY is trading higher well above the 97.00 level amidst the fifth consecutive decline of Asian indices.

USD/JPY eyes on FOMC minutes

Investors keep waiting for details of discussions at the Federal Reserve’s last policy meeting to gauge when the central bank might pare its bond purchases, against the backdrop of mounting fears that the outing will confirm the beginning of the “tapering” in September. In another tone, Japan’s raised severity of latest Fukushima leak to level 3 ("serious" radiation "incident") on international scale. Fukushima leak and Asian indices jitters, helped a lot to remain above the 97.00 level, despite extended dollar weakening and volatility, ahead of FOMC today’s meeting. Data-wise, the Japanese currency might also being hurt by dismal supermarket sales reported in July down 0.5%, versus up 2.7%, on a yearly basis.

Technical outlook on USD/JPY

At the time of writing, USD/JPY is trading at 97.50, up 0.24%.The FXstreet.com Trend Index shows the pair to be slightly bearish. Investors should bear in mind that Nikkei Index down 0.79% as USDJ/PY is up 0.18%. Correlation between the two has risen from 0.41 for the past year to 0.65 for the past week. Daily pivot point support can be found at 97.00, 96.82, 96.57 and resistance at 98.09, 98.17 and 98.33, respectively.

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  #52  
Old 22-08-2013, 15:15
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USD/JPY still upwards ahead of FOMC release


FXstreet.com (Athens): EUR/GBP is well supported over 0.8520 area, on better than expected Euro land PMI.

European growth prospects as well as no significant UK data, ‘uplift ‘the pair.

Despite, sterling’s post FOMC move has largely been in line with the wider American dollar, sterling lost ground against the single currency. Signs of a stabilizing China and improvement in European growth prospects have helped cushion what has been deteriorating risk appetite this week. Mainly, global concerns have been manifested in the form of collapsing emerging markets, which has boosted those currencies with ‘risk-appetite’, growth momentum, like the single currency. Therefore, signs that the Euro-Zone may stay out of recession in the third quarter of 2013 produced a stronger Euro. What’s more, UK data is very light today, therefore the trend is set to continue.

Technical outlook on EUR/GBP

Jynske Bank Team suggest that ‘We recommend that investors place a sell order at 86.20 to catch EURGBP before the next weakening phase begins. In the short term, EURGBP trades in oversold territory, and therefore we expect that in the short term EURGBP will trade back towards the 86.30-86.90 range. No important fundamentals will be announced in the UK this week. We still expect that GBP will strengthen over the coming 3, 6 and 12 months’. The FXstreet.com Trend Index shows the pair to be slightly bullish.. Daily pivot point support can be found at 0.8520, 0.8500, 0.8484 and resistance at 0.8600, 0.8622, 0.8698, respectively.

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  #53  
Old 22-08-2013, 15:36
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Flash: USD/JPY fortified by strong support – UBS


FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.

Key quotes

Beginning with the USD/JPY, “Resistance is at 98.67, a close above this would be positive, extending the strength to 99.95 and then 101.53. Strong support is at 96.91 ahead of 95.81, indicating a neutral outlook.”

Regarding the GBP/USD, “The pair is under correction within what is an ongoing bullish trend. Support is at 1.5536 ahead of 1.5423. Resistance is at 1.5752 ahead of 1.5879, suggesting a bullish outlook”

Finally, in terms of the USD/CHF, “As bearish conditions persist, there is scope for further weakness to test important support at 0.9130. A move below which would expose 0.9022. Resistance is at 0.9301 ahead of 0.9396.”

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  #54  
Old 23-08-2013, 14:01
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Canada: CPI grows 0.1% in July, 1.3% YoY


FXstreet.com (Córdoba) - The Canadian consumer price index grew 0.1% in July accumulating 1.3% year-over-year, a tad above the previous month's 0.0% and 1.2% readings. Market expectations were for a 0.2% rise MoM and 1.4% YoY in July.

The core rate, which excludes volatile components such as some food and energy, stood unchanged compared to the previous month but rose 1.4% over the year, which came in line with market expectations.

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  #55  
Old 23-08-2013, 14:22
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US New Home Sales decline 13.4% to 394M annual rate in July



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  #56  
Old 23-08-2013, 14:37
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EUR/USD jumps after EMU, US data



FXstreet.com (Córdoba) - The EUR/USD jumped to fresh daily highs after the latest string of data showed Eurozone consumer confidence rose to a 2-year high in August, while US new home sales dropped sharply in July.

Data lifts EUR/USD to 2-day high

EUR/USD broke above the 1.3370/75 area, which had been capping the upside over the last 2 days, and printed a high of 1.3387 so far. At time of writing, EUR/USD is trading at the 1.3380 zone, where it records a 0.2% gain on the day.

EUR/USD technical levels

If EUR/USD manages to clear the 1.3385 zone, next resistances could be found at 1.3400 (psychological level) and 1.3426 (Aug 21 high). On the flip side, supports are seen at 1.3330 (10-day SMA) and the 1.3297/1.3300 area (Aug 22 low/psychological level).



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  #57  
Old 26-08-2013, 09:35
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AUD/USD eases from peaks



FXstreet.com (Edinburgh) -After climbing to levels beyond 0.9040, the AUD/USD is now back around 0.9030 as investors’ preference for safer assets is weighing on the Aussie dollar.

AUD/USD bearish outlook remains

It seems the Aussie dollar is trying to stabilize around the 0.9000 handle, although domestic pressure for a weaker currency and the recent USD strength would be plotting against the current resilience of the AUD. “A weaker currency is a necessary condition for full economic rebalancing in Australia. It will likely happen one way or the other – ideally without another rate cut, but if a cut is needed the RBA will not be found wanting… In anticipation of the Fed announcing the beginning of QE3 tapering at the Sept 17-18 FOMC, we lower both our 1m and 3m AUDUSD forecasts to 0.88 (from 0.90)”, assessed G.Yu and G.Berry at UBS.

AUD/USD significant levels

The pair is now losing 0.09% at 0.9028 with the next support at 0.8970 (low Aug.23) followed by 0.8959 (23.6% of 0.9320-0.8848) and finally 0.8932 (low Aug.22). On the flip side, a break above 0.9050 (high Aug.23) would expose 0.9068 (high Aug.21) and then 0.9083 (Tenkan line).



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  #58  
Old 26-08-2013, 09:49
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Flash: GBP/USD apprehensive ahead of Carney - OCBC Bank



Emmanuel Ng of OCBC Bank notes that after a choppy session, GBP/USD ended slightly lower on the day despite supportive data readings.

Key Quotes

“Markets may remain apprehensive going into BOE Carney’s appearance on Wednesday amid background fears that the governor may express some discomfort with firmer interest rates.”

“On the CFTC front, net speculative GBP shorts were reduced in the latest week but the pair may hesitate on approach of the 1.5750/60 neighborhood on the top side while the 200-day MA (1.5516) may provide initial s support on dips.”



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  #59  
Old 26-08-2013, 10:02
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Commodities rising on DXY drop



FXstreet.com (Athens) - Commodities rose on Friday, as the drop in U.S. new home sales, renewed hopes that the Federal Reserve will maintain its bond-buying economic stimulus.

Will commodities go further this week?

A rise in gasoline futures helped oil prices pull higher on Friday following news of a unit shutdown at a Canadian East Coast refinery. Brent crude raised $1.14 to settle at $111.04 a barrel, off earlier highs of $111.23 a barrel. U.S. crude raised $1.39 to $106.42 a barrel, off a session peak of $106.94 and narrowing the contract's discount to Brent to $4.62 a barrel.


Gold rose almost 2 percent on Friday, hitting its highest price in more than two months near $1,400 an ounce, as a big drop in U.S. new home sales renewed hopes that the Federal Reserve will maintain its bond-buying economic stimulus. To elaborate on, the previous week, gold gained 1.6 percent for its third consecutive weekly rise. It has climbed in six out of the past seven weeks since gold fell to a three-year low at $1.180 an ounce on June 28. Last but not least, silver rose 4 percent to $24.04 an ounce, having hit a high of $24.08, which marked the highest since May 9.



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  #60  
Old 27-08-2013, 14:38
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Flash: EUR/USD and stocks higher on US data disappointment - Danske Bank


FXstreet.com (Barcelona) - Danske bank analysts note that yesterday’s disappointing durable goods orders out of the US sent rates lower and EUR/USD and equities higher (reversed later) as markets continue to discount the Fed tapering process.

Key Quotes

“Notably worrying was the capex trend suggesting that businesses started Q3 on a weak footing and unless July proves an outlier,this could imply downside risks to our H2 forecast that US growth will pick up.”

“Regarding the global economic outlook, we highlight that growth in developed markets is finally taking off in H2 due to the end of fiscal tightening, a turn in US housing and reduced global uncertainty.”

“Rising exports to US and Europe should also help to eventually lift emerging markets (EM) in 2014.”



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  #61  
Old 27-08-2013, 14:59
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Flash: EUR/USD maintains bullishness despite earlier stumble – UBS





FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses.

Key quotes

“Initial resistance for the EUR/USD is at 1.3452, a break above which would open 1.3520 ahead of 1.3711. Support is at 1.3298 ahead of 1.3206, suggesting a bullish outlook.”

In terms of the EUR/CHF, “Support is at 1.2268, a break below which would expose 1.2219. Resistance is at 1.2378 ahead of 1.2434.”

Moving to the EUR/GBP, “The cross has been consolidating over the past few sessions and any further recovery should find resistance at 0.8606. Support is at 0.8505 ahead of 0.8398, suggesting a bearish outlook.”




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  #62  
Old 27-08-2013, 15:12
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Gold capped at 1420 resistance, break of which could target 1480





FXstreet.com (New York) - Precious metals surged again Tuesday, helped by mounting fears of US intervention in Syria.

Gold eyes upside

Gold extended the short-term bullish move, and approached the full upside target at 1420.00, and key resistance level, where we prefer to move to the sidelines and monitor how price reacts to this pivotal level, as a continuation of the move above 1420.00 may confirm a move towards 1480.00-1485.00. At the time of writing, gold prices are trading at USD $1419.49 per oz. Tuesday.

Silver bullishness intact

Silver maintained the bullish bias, trading in minor consolidation this morning, accordingly, our earlier scenario remains valid and favored. However, it is advices to execute cautiousness as price approaches the 24.80 resistance level. The price of silver has now moved to USD $24.49 per oz. during US trading.




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  #63  
Old 28-08-2013, 12:52
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Flash: GBP/USD fails to break 200W MA ahead of Carney - BTMU





FXstreet.com (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the pound continues to weaken modestly in the near-term after EUR/GBP failed to break below key support from its 200-week moving average which came in at just below the 0.8500-level, and GBP/USD failed to break above key resistance from its 200-week moving average which came in at around the 1.5750-level.

Key Quotes

“The pound is trading on weaker footing heading into today’s speech from BoE Governor Carney.”

“It is his first significant speech since he took over as Governor, and will provide the first opportunity to comment on developments since the BoE introduced forward rate guidance on the 8th August.”

“It is unlikely that Governor Carney will have been pleased that forward rate guidance, a form of easing, unintentionally prompted a tightening in overall monetary conditions in the UK with short rates rising and the pound strengthening, even accounting for the further pick up in cyclical economic momentum in the UK.”

“As a result it would be surprising if Governor Carney did not attempt to push back against those market expectations for earlier BoE tightening, to reinforce the potential effectiveness of the guidance.”




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  #64  
Old 28-08-2013, 13:01
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USD/CHF above 0.9200, on USD strengthening across the board





FXstreet.com (Athens): The USD/CHF has been trading upwards on European trading session all time long, but it took several hours to break above the 0.9200 area.

USD/CHF breaks the barrier of 0.9200 on Syria conflict fears

The USD/CHF fell apart on Tuesday, as it broke the crucial resistance of the 0.9200 area. While the pair had been trading on the upper level since the opening of the European trading session, it failed to break the resistance zone of 0.9200 area. Finally, due to the geopolitical tensions, the American dollar got a solid boost across the board, i.e. USD/CHF managed to spike on 0.9211 and still sitting well above 0.9200 level. Juckes from Societe Generale, says that ‘The blood-letting won't really end until the Fed finally moves from taper-talk to actually cutting back bond purchases though on a positive note, we may then see a decent bounce in EM in particular and in ‘risk' overall. But for now, the risk of US/European intervention in Syria is the focus’.

Technical outlook on USD/CHF

At the time of writing, the pair is trading at 0.9204, up 0.28 BBH Global Currency Strategy Team suggest that ‘USD/CHF is gradually moving towards the June low near 0.9100, not too far from the year’s low around 0.9020. Also, the geopolitical tensions have contributed to the partial reversal of the higher trend in US Treasury yields. For example, 10-year yields are back to 2.74%, off 16 basis points from their recent highs from the middle of last week. The trend higher in gold prices which started in early July has also seems to have been reinforced, rising 4.5% since the middle of last week’. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 0.9107, 0.9085, 0.9062 and resistance at 0.9260 0.9286 and 0.9308, respectively.




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  #65  
Old 28-08-2013, 13:11
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GBP/USD soars on Carney dovish comments





FXstreet.com (Athens) - The GBP/USD gains more than 50 pips, while Carney comments ‘rates will be on hold until jobs rise in a sustainable fashion’.

GBP/USD spikes above 1.5500 level on Carney mania across the board

The cable jumped more than 50 pips, after the Canadian governor of BoE said that ‘guidance does not prevent the central bank from adding to stimulus and ‘rates will be on hold until jobs rise in a sustainable fashion’. While, just before Carney’s lunchtime talking, the cable being caught under severe pressure, Carney’s comments made cable to jump over 1.5500 area. The BoE governor also said that ‘7% unemployment rate is not a trigger, but a threshold’, boosting sharply the demand for the sterling.

Technical outlook on GBP/USD

At the time of writing, GBP/USD is trading at 1.5521, down 0.15%, after having reached a daily high of 1.5532 The FXstreet.com Trend Index shows the pair to be neutral. Daily pivot point support and resistance can be found at S3: 1.5480 S2: 1.5425 S1: 1.5400 R1:1.5614 R2:1.5643 R3:1.5682





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  #66  
Old 29-08-2013, 12:03
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Session Recap: USD firms ahead of GDP figures




FXstreet.com (Córdoba) - Even though reduced tension regarding Syria gave high yielding currencies and stocks some relief, the USD extended gains on Thursday as month-end buying kicked in.

EUR/USD finally broke below 1.3300, which had contained the pair over the last 2 weeks, and accelerated toward the 1.3240 area. GBP/USD has managed to hold above the 1.5500 mark and trades little changed around 1.5515.

Meanwhile, the USD strengthened sharply versus the JPY and the CHF, with USD/CHF reaching a 2-week high just ahead of the 0.9300 level. Currencies linked to commodities are a tad lower with USD/CAD hovering around 1.0500 and AUD/USD around 0.8930.

Investors will now be watching for the second reading of US gross domestic product for the second quarter as markets continue to look US data closely ahead of the Fed’s meeting next month.

Main Headlines in Europe:

Commodities soar on Syria’s threat

France: Business Climate up to 98 in August

Spain: Q2 GDP contracted 1.6% YoY

Switzerland: Employment Level at 4.166 M QoQ in Q2

Germany: Unemployment Change up 7K in August

Bourses in Euroland revert losses, EUR plummets

Flash: What’s the sentiment around the EUR/USD? – Commerzbank and ANZ




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  #67  
Old 30-08-2013, 12:47
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Flash: USD/JPY rebound expected to fail at downtrend - Commerzbank



FXstreet.com (Barcelona) - Axel Rudolph, Senior Technical Analyst at Commerzbank notes that USD/JPY continues to see a rebound from the 96.64 2 month support line.

Key Quotes

“While it is possible that we will see the market rebound towards the 99.30 3 month downtrend, we look for this to contain the topside. We are negative short term below here.”

“Below the 96.64 support line targets the five month support line at 95.02. Over the coming weeks we allow for losses back to the 94.45/93.75 support area. This is where the 200 day moving average, Fibonacci retracement and the June low are to be found.”






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  #68  
Old 30-08-2013, 13:12
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GBP/USD under pressure on weaker USD spending data



FXstreet.com (Athens) - The GBP/USD is well capped by 1.5500 key area, on global turmoil and weaker than expected data from US.

Weaker US Consumer data putting again riddles on ‘tapering’ to traders; GBP/USD below 1.5500

The weaker than expected US data did not assist investors to comprehend if the ‘tapering’ will be ‘sooner’ rather than ‘later’. The US data were mixed, but the most crucial ones, such consumer spending, personal income, as well as personal spending let down investors all over the globe. On the other hand, the sterling is underperforming today due to a general corrective pullback. What’s more, traders should bear in mind that the last week (global turmoil, rumors for US military forces invading Syria), was not generally a pretty go of things for risk-seeking investors. Last but not least, next week might probably be the crucial one for Fed’s tapering decision.

Technical Outlook on GBP/USD

At the time of writing, the cable is trading at 1.5488, down 0.11%. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support and resistance can be found at S3: 1.5417 S2: 1.5420 S1: 1.5356 R1:1.5527 R2:1.5565 R3:1.5604






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  #69  
Old 30-08-2013, 13:25
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Canada: GDP contracted 0.5% MoM in June




FXstreet.com (Edinburgh) -The Canadian economic activity contracted 0.5% on a monthly basis during June, matching expectations and down from May’s 0.2% advance. On an annualized basis, the GDP expanded 1.7% QoQ during the second quarter, surpassing estimates at 1.5%.






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  #70  
Old 03-09-2013, 13:56
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US: Markit manufacturing PMI at 53.1 in August

FXstreet.com (Edinburgh) -The US manufacturing PMI sponsored by Markit dropped to 53.1 during August from 53.7 in the previous month. The release also missed the median at 54.0.






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  #71  
Old 03-09-2013, 14:45
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US: Construction Spending grows more than expected in July

FXstreet.com (Barcelona) - US Construction Spending rose 0.6% in July, after remaining flat the previous month, according to data released by the the US Census Bureau. This result is above consensus of +0.3%.







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  #72  
Old 03-09-2013, 15:00
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GBP/USD testing support 1.5535



FXstreet.com (London) - GBP/USD had been well supported in Europe with the UK construction PMI surprising to the upside.

This data reinforced the trend of strong UK releases lately. The BoE on Thursday is going to b main UK event for the week, where there is still the risk that the Bank attempts to push back on market expectations for the timing of an eventual rate hike. Then the US payrolls will be in focus and will be make or break for September tapering, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities. “…with 100k being the key threshold.”

GBP/USD eyes June highs

Karen Jones, chief strategist at Commerzbank said that GBP/USD is attempting to hold over the 1.5460 2 month up channel. “Intraday rebounds are expected to struggle circa 1.5605 (April high). While capped here the market remains directly offered and the uptrend at 1.5460 exposed. Above 1.5605 will force us to the sidelines as this will suggest a retest of the 1.5716/52 – the recent high and the high made in June”. The 20 DMA is 1.5544, the 50 DMA is 1.5543 and the 200 DMA is 1.5504. RSI (14) reads 42.18. Supports are ascending from 1.5373, 1.5427, 1.545,8 1.5507. Spot is 1.5535 while resistances are 1.5607, 1.5612, 1.5638 and 1.5677.







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  #73  
Old 04-09-2013, 17:28
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EUR/USD eyes 1.3220 as recovery intensifies




FXstreet.com (Edinburgh) -The bid tone continues to prop up the upside of the shared currency on Wednesday, pushing the EUR/USD to challenge the region around 1.3220.

EUR/USD rebounds sharply

The pair bounced markedly from the area of 1.3170 to print fresh intraday highs in the boundaries of 1.3220 as the USD surrenders recent gains and the sentiment favouring riskier assets is quickly spreading across the markets. “The recent selloff in EUR/USD has stabilized overnight after reaching support provided by the 100-, and 200-day moving averages late yesterday (currently 1.3135/45). Upward EZ PMI revisions added to the recent positive data trend in the region, although all eyes are on the ECB tomorrow. Our bias is for higher yields in aftermath which could help lift EUR/USD, at least on a short term basis. More broadly we remain bearish on the pair however”, suggested S.Osborne and G.Moore, FX Strategists at TD Securities.

EUR/USD support/resistance levels

As of writing the pair is gaining 0.29% at 1.3209 and a surpass of 1.3219 (low Aug.29) would target 1.3237 (high Sep.2) en route to 1.3255 (high Aug.30). On the flip side, the initial support aligns at 1.3157 (low Sep.4) followed by 1.3145 (MA200d) and finally 1.3138 (low Sep.3).






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  #74  
Old 04-09-2013, 17:38
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EUR/JPY on meteoric rise for 10-day highs at 131.84




FXstreet.com (Chicago) - EUR/JPY extends bullish momentum after the completion of an upward flag. The pair broke through 131.50 resistance zone to spike and target 132.00 zone in the afternoon of the American trading session.

European data

Earlier in Europe, the region’s GDP results matched 0.3% expectations (QoQ). Annual GDP was -0.5% vs. prior -1.1% and estimates at -0.7%. Retail sales failed to meet estimates with monthly results at 0.1% vs. 0.4% projections and prior -0.7% (MoM). Yearly results were -1.3% vs. estimates at -0.4%. Despite results, the euro maintained 0.52% gains to eventually be pushed up by bullish pressure. In Japan, the yen weakened after the cooling down of the Syrian conflict (less risk-averse behavior) along the announcement that the sales tax hike will be determined within one month and not until Spring 2014 as planned. Markets closed with gains in both regions with the FTSE 100 up 0.10%, the DAX up 0.19% and the CAC 40 up 0.16%. The Nikkei 225 registered 0.54% gains.

EUR/JPY Technical Levels

Technically speaking, the pair rose after the completion of a flag that originated last September 1st around 130.00 zone. After trading sideways for a few hours, the pair handled to break through strong resistance. At 131.77, the pair oscillates between supports at 131.52 (August 4th highs), 131.14 (August 20th highs) ahead of 130.73 (September 2nd lows) and resistances at 131.93 (August 24th highs), 132.33 (August 22nd highs) followed by 132.72 (July 23rd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe and is offered above the EMA20.






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Old 05-09-2013, 14:19
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Flash: USD/JPY pointed higher – TD Securities




FXstreet.com (Lisbon) - The USD/JPY has whipsawed overnight in the aftermath of the BoJ statement where they offered a modestly improved outlook on the Japanese economy, notes the TD Securities Team.

Key quotes

“The USD/JPY refused to stabilize even with the much talked about sales tax increase planned by the Abe government. There was nothing unexpected from the BoJ meeting which leaves USD/JPY and the other JPY crosses at the whim of other global events for now (ECB and US jobs numbers in particular).”

“Overall, the balance of risks suggest the prevailing trend lower in the JPY should extend in the short-term.”






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Old 05-09-2013, 14:50
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US: Factory Orders drop by 2.4% in July




FXstreet.com (Barcelona)
- US Factory Orders fell 2.4% in July, compared with the the 1.6% rise in June, the US Census Bureau reported today. Market consensus pointed to a steeper decline of 3.3%.






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  #77  
Old 05-09-2013, 15:26
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[color=#0000FF]

USD/JPY climbs back above 100.00[/color]



FXstreet.com (Córdoba) - The USD/JPY extended gains above the 100.00 hurdle Thursday and printed a fresh 6-week high in a day loaded of data.

USD/JPY hits fresh 6-week high

With US 10-year yields reaching the highest since July 2011, USD/JPY stretched to a peak of 100.17 after the ISM services PMI came in stronger than expected for August, which gave the greenback another boost across the board. At time of writing, USD/JPY is trading around 100.10, 0.4% above its opening price.

USD/JPY maintains the positive tone

From a technical perspective, the USD/JPY maintains the positive tone, says Valeria Bednarik, chief analyst at FXstreet.com. However, the analyst notes that range trading is likely to persist until next Friday’s US employment figures.






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Old 06-09-2013, 13:30
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US: Nonfarm payrolls up 169K in August




FXstreet.com (Barcelona) - US NFP grew by 169K in August, following the July increase revised down to 104K, according to data released today by the US Department of Labor. This result is below market consensus of 180K.

The Unemployment Rate dropped to 7.3% from 7.4%, against forecasts of remaining unchanged.






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Old 06-09-2013, 13:49
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USD/CHF briefly drops below 0.9400 after NFP




FXstreet.com (Córdoba) - The USD plummeted across the board after data showed US economy added fewer jobs than expected in August, while previous month figures were downwardly revised, rising doubts whether the Fed is ready to begin tapering its bond purchases later this month.

USD/CHF falls below 0.9400

USD/CHF came under strong pressure and retreated from 7-week highs as knee-jerk reaction to the data, although it managed to bounce and recover some ground afterward. At time of writing, USD/CHF is trading at the 0.9425 zone, having bottomed out at 0.9384.

USD/CHF technical levels

In terms of technical levels, on the downside supports for USD/CHF are seen at 0.9384 (daily low) and 0.9351 (Sep 5 low), while on the upside, resistances could be found at 0.9455 (daily high) and 0.9496 (Jul 16 high).



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Old 06-09-2013, 14:20
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Gold prices approach 1400 on weak NFP, Russian bravado in Syria




FXstreet.com (Lisbon) - Precious metals continued finally experienced a move higher Friday, after back-to-back days of weakness.

Gold targets jump over 1400

Gold prices surged Friday, helping alleviate a multi-day easing that has since relinquished the recent rally in the yellow metal. With the sour results of NFP in the US, gold price look to target 1400.00, a break of which could lead to 1417.00 and 1433.00. At the time of writing, gold prices are trading at USD $1386.92 per oz. Friday.

Silver eyes downside

Silver remained under pressure Friday, helped only by the recent advent of weak US data, given the approach of the 23.05 support level earlier today. Despite the rise, this region remains in focus, a break below this support should clear the way for further downside. The bearish scenario remains favored, so long as below 23.60-23.65, a break back above 23.65 will reverse the bias to bullish. The price of silver has now moved to USD $23.81 per oz. during US trading.



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