Oct 27, 2011

Forex Crunch Almost progress for Europe

Forex Crunch Almost progress for Europe

Almost progress for Europe

Posted: 27 Oct 2011 04:56 AM PDT

After an all-nighter in Brussels, European leaders have finally announced a package of measures which they hope will placate the concerns of investors and traders regarding the sovereign debt and banking crisis. The package has three major components – the firepower of the EFSF has allegedly been raised to EUR 1.4trln,

Greek debt-holders have apparently accepted a 50% haircut, and European banks are to be recapitalised. Also announced was a more significant role for the IMF (although exactly what that role will be is not yet clear), and the continued involvement of the ECB with respect to buying the bonds of troubled European sovereigns in the secondary market.

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USD/CHF: Trading the Swiss KOF Economic Barometer

Posted: 27 Oct 2011 02:40 AM PDT

The Swiss KOF Economic Barometer is a leading indicator which measures overall economic activity and is an excellent indicator of the direction of the Swiss economy. The indicator, which is released monthly, has a major effect on USD/CHF.

Here are all the details, and 5 possible outcomes for USD/CHF.

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Forex Daily Outlook – October 27 2011

Posted: 26 Oct 2011 11:48 PM PDT

US GDP and Unemployment claims are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, weekly report to value the unemployment that filed for insurance, is about to rise by 1K up to 404K this week.

Read the rest of the article Forex Daily Outlook – October 27 2011

Serious Progress Made in EU Summit – EUR/USD Flirts with 1.40

Posted: 26 Oct 2011 11:18 PM PDT

The leaders of the European Union had a long night, but it was eventually fruitful. The banks agreed on a 50% haircut on Greek debt. Reaching such an agreement was in the works. Will Portugal also get a haircut now? Bank recapitalization and a €1 trillion EFSF were also agreed, although the details are still to be seen.

EUR-USD is climbing above 1.40 quite slowly. While this round number is watched by many, stronger resistance appears higher.

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EUR/USD Returns to Range on Partial Success (or Partial Failure)

Posted: 26 Oct 2011 12:16 PM PDT

Some details are coming out of the EU Summit. These are good enough to get EUR/USD back to the previous range, but not satisfying for a convincing breakout.

EUR/USD is at 1.3905, back in the 1.39 to 1.3950 range.

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Australian Rate Cut Chances Increase

Posted: 26 Oct 2011 10:44 AM PDT

The chances of rate cut in Australia increased significantly following the weak CPI. AUD/USD already got a blow from the release of the CPI, but a rate cut isn’t fully priced in. More significant falls depend on the actual cut and its size.

Australia publishes official house price figures only once per quarter. During each quarter, there are unofficial releases such as the MI Inflation Gauge that provide some insight. The signs of weaker inflation were seen, but the official release was important, given the surprise.

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EU Summit Headed for Failure – EUR/USD Drops

Posted: 26 Oct 2011 07:24 AM PDT

Among the three main issues on the table, only one is close to being resolved, and not in a convincing way.

EUR/USD which jumped earlier above the range on hopes, now sees the bottom side of the range. Updates.

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USD/JPY: Trading the Pending Home Sales Release

Posted: 26 Oct 2011 05:45 AM PDT

The U.S. Pending Home Sales Report is an important leading economic indicator, considered by analysts as a good measure of consumer demand in the housing sector. A higher reading than forecast points to a growing economy and is bullish for the dollar.

Here are all the details, and 5 possible outcomes for USD/JPY.

Read the rest of the article USD/JPY: Trading the Pending Home Sales Release

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