Apr 28, 2013

Forex Crunch GBP Outlook April 29 – May 3

Forex Crunch GBP Outlook April 29 – May 3

GBP Outlook April 29 – May 3

Posted: 28 Apr 2013 03:37 AM PDT

GBP/USD shot higher late last in the week, as the pound gained about 250 points against the US dollar. The pair closed the week at 1.5473. This week's highlights are PMI releases. Here is an outlook of the events and an updated technical analysis for GBP/USD.

The pound  had a quiet week until Thursday, when the UK released a better than expected GDP f0r Q1. This enabled the pound to post a rally late in the week. The markets were pleased as the key release climbed 0.3%, beating the estimate of 0.1%. As well, GDP rebounded nicely from Q4, which declined by 0.3%.

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AUD/USD Forecast April 29 – May 3

Posted: 28 Apr 2013 02:27 AM PDT

The Australian dollar was almost unchanged at the end of the week, closing at 1.0264. AUD/USD did break above the 1.03 line, but was unable to sustain that move. This week’s highlights include Building Approvals and PPI. Here is an outlook of the events and an updated technical analysis for AUD/USD.

AUD/USD showed little change as both the US and Australia posted some weak key numbers. Australian CPI missed the estimate, while the US continued to release disappointing numbers, notably GDP, which fell well short of expectations.

Read the rest of the article AUD/USD Forecast April 29 – May 3

USD/JPY Outlook Apr 29-May 3

Posted: 28 Apr 2013 02:07 AM PDT

USD/JPY made another failed attempt to break the 100 line, and eventually fell down. Household Spending, Retail Sales, and Prelim Industrial Production  are the major events this week. Here's an outlook for the Japanese events and an updated technical analysis for USD/JPY.

Last week the Bank of Japan refrained from further policy initiatives following the April 4 policy meeting and was divided over whether the central bank can meet its inflation target in two years. Economists believe it would be difficult to achieve the 2.0% target rate with monetary easing alone. In the US, GDP disappointed and this sent USD/JPY tumbling down. Where will the pair go now?

Read the rest of the article USD/JPY Outlook Apr 29-May 3

Government formed in Italy – EUR/USD could gap higher

Posted: 27 Apr 2013 12:17 PM PDT

Italy will probably have a new government on Monday, April 29th, more than two months after the elections. Enrico Letta will lead a government which will also include people from Berlusconi’s party, as well as non politicians.

This news will probably boost the euro in the new trading week. However, this government may have a short life, and so could a euro rally: the ECB convenes on Thursday and could cut the rates.

Read the rest of the article Government formed in Italy – EUR/USD could gap higher

USD/CAD Outlook Apr 29 – May 3

Posted: 27 Apr 2013 09:15 AM PDT

The Canadian dollar enjoyed the rising prices of oil and the weakness of the US dollar to recover. GDP and the trade balance are the major events this week. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.

The Canadian dollar enjoyed the lower than expected GDP figure in the US. Last week, Canadian retail sales increased more than expected, rising by 0.8% to $39.5 billion in February, marking the second consecutive monthly rise. Meanwhile Core sales also surprised with a 0.7% gain in February from a gain of  0.4% in the preceding month.  However, in volume terms, retail sales were flat, suggesting Tuesday’s GDP may be weak.

Read the rest of the article USD/CAD Outlook Apr 29 – May 3

EUR/USD Forecast Apr 29-May 3

Posted: 27 Apr 2013 06:00 AM PDT

EUR/USD weakened for a second week in a row, as speculation of a rate cut grew, but nothing is certain. Rate cut or no rate cut? This is the question and we will get answer this week in one of the more important ECB decisions. In addition, German inflation, employment and retail data, Manufacturing PMIs are additional highlights of a very busy week.  Here is an outlook on the main market-movers awaiting us and an updated technical analysis for EUR/USD.

After getting a rate cut hint from the hawkish Bundesbank, other officials and analysts shook the markets with speculation. The same Bundesbank reportedly returned to its roots by not backing the OMT backstop. However, not only peripheral countries are struggling Spain (Spanish updated unemployment rate: 27.2%) - German PMIs looked bad and the Eurozone continued to stagnate in April, raising concerns for a further economic downturn in the Euro-zone. Also the US isn’t doing well, as the strong start to the year wasn’t that strong: GDP rose by only 2.5% on an annual basis.

Read the rest of the article EUR/USD Forecast Apr 29-May 3
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