Dec 30, 2009

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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EUR/GBP extends rally

Posted:

EUR/GBP is extending its rally, presently at .9038. Talk has it that European sovereign has been in doing usual month-end purchases (related to UK payments to European Community.)

Euro zone M3 money supply weaker than expected

Posted:

Euro zone M3 money supply 3-month  moving average September-November has come in at +0.6%, down from previous +1.6% for August-October period and below median forecast of +0.8%.  Annual growth has come in at -0.2%, weaker than the median forecast of +0.3%.  Data will serve to increase fears of a possible credit crunch. EUR/USD sits at 1.4347 ...

Cable steady in slow trade

Posted:

Cable at 1.5895 is effectively unchanged on the day.  Supports 1.5880, 1.5867 and 1.5850, resistance at 1.5915/20.  Talk of stops on move through 1.5850.

EUR/GBP touch firmer; sell orders, stops noted

Posted:

EUR/GBP is very marginally firmer on the day, presently at .9027 from an early .9015. Technical resistance next at .9045/50.  Talk of sell orders up at .9040/50, with stops seen gathered just above there.  Support down at .8990/00.

EUR/USD narrow rangebound as rally fizzles out

Posted:

The fledgling EUR/USD rally just didn't have the momentum to get through resistance up at 1.4360/65 and we're back at 1.4345. 1.4350 option expiry noted at todays New York cut. Support 1.4300/05.  Stops touted just below there.

French housing starts down 14.7% end-November

Posted:

Meanwhile French debt rises to 1,457.4 bln euros or 75.8% of GDP at the end of the Q3. EUR/USD sits at 1.4345, the market at virtual standstill.  Next euro zone data up at 09:00 GMT. The release of M3 money supply is expected to show the 3-month average coming in at +0.8%, down from previous +1.6%.

Britain’s debt now a “riskier proposition” than Italy’s

Posted:

Investors now view Britain as a riskier lending proposition than Italy. Edmund Conway in The Telegraph.

EUR/USD opens effectively unchanged

Posted:

EUR/USD sits  at 1.4345, pretty much where it  closed out Tuesday in North American. The market will have noted the European Commission's warning that half of its 16 nations have public debt approaching unsustainable levels. The plight of countries like Greece and Spain is still very much in focus and will be ...

Asian Forex Wrap – US dollar continues to rise

Posted:

Japan December PMI rises to 53.8. JAL shares smashed, down over 30% on the back of bankruptcy worries. Speculation that countries sharing the european currency may be downgraded. S&P says Japan rating could be cut if it fails to stabilize huge debt. Japan government aims for an average of over 2% GDP growth over the next ...

Japan aims for over 2% growth in next decade

Posted:

Japan's government release a long term strategy today aiming for real GDP growth averaging over 2% in the next decade. This will be done by creating new sectors such as the environment, health and tourism.

S&P says Japan rating could be cut if it fails to stabilize its debt levels

Posted:

S&P has said that Japan's AA rating could be jeopardised if policy steps fail to stabilize and reduce the country's huge debt. USDJPY jumps 10 pips.

countries sharing european currency may be downgraded

Posted:

Their is speculation that some countries sharing the European currency will have their credit ratings downgraded, the Wall St Journal reported. The report said that half of the 16 European nations have debts approaching dangerous levels. EUR continues to be pressured holding just above 1.4300 for now. Looks like Europe may ...

AUD lower with EUR as US dollar rises

Posted:

The AUD has also slipped thru critical support at 8930 to trade back towards 89c as broad USD strength is seen across the FX market. Weak longs have trimmed positions and stops under 89c are eyed. Look for 8930-40 to cap now for a move lower to 8780 into this afternoon if USD ...

EUR slips under 1.4320

Posted:

EUR has slipped thru support at 1.4330 triggering stops sub 1.4320 as USD starts to advance. USDJPY has traded up to 92.18, needing just a little more momentum to break thru the sellers at 92.20. Technically EUR is now on its way back to 1.4200-10.

JAL shares smashed, down 25%

Posted:

Japan Airline shares have hit a record low today, down 25% on the back of bankruptcy worries.

USDJPY sellers restrict up move

Posted:

Once again USDJPY sellers lined up between 92.00 - 20 have stopped any further advance in Asia so far today. It seems Europe and the US take it higher but Asia finds it hard to move up. Exporter sell orders are scattered all the way up towards 93.00, but we ...

Nikkei opens up 0.65%

Posted:

The Nikkei has opened up 0.65%. It is currently trading at 10700. It hit a 4 month high with exporters supported via a weaker Yen. Elsewhere in the region, the ASX200 is flat as investors ready themselves for more festivities. The Kospi has opened up 0.14%.

Japan December PMI rises to 53.8

Posted:

Japanese manufacturing activity rose to 53.8 in December from 52.3 in November, the first up move in 3 months. December PMI new export orders rose to 54.7. This is the highest reading since July 2004. December PMI output rose to 57.7 from 54.4 in November. USDJPY 6 pips lower.

EUR: Bearish chart formation

Posted:

Overnight saw a bearish outside day formation on the EUR, with technical traders now looking at a move to the low 1.42's(200 day MA). Imediate support seen at 1.4330, under that opens the door for a move down. Short term resistance at 1.4370 on the day. I'll be looking to ...

AUD spikes back above neckline

Posted:

Morning all, Model funds were seen buying both AUDUSD and AUDJPY overnight leading to a spike back above 8945 to trade up towards 90c. The move caught shorts off guard, including myself, as stops were triggered leading into year end. On the day look for support at 8930-40 area and resistance at ...
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