Sep 3, 2011

Forex Crunch Forex Weekly Outlook –September 5-9

Forex Crunch Forex Weekly Outlook –September 5-9

Forex Weekly Outlook –September 5-9

Posted: 03 Sep 2011 01:39 AM PDT

This week’s most important events are the rate decisions in Australia, Japan, Canada, the UK and in the  Euro-Zone and employment data in Australia,  and Canada. Here is an outlook on all the major events awaiting us this week.

Last week the overall picture in the US has worsened after a flat reading of non-farm payrolls indicating no new Jobs were created in August. This is the weakest figure in almost a year, much lower than the 74,000 jobs expected by analysts. However, this reading was affected by the strike at Verizon artificially decreasing 45,000 jobs from the payrolls. Another positive sign is ADP report published two days ago, has shown a gain of 91K. 

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Forex Articles for the Weekend – September 3

Posted: 02 Sep 2011 01:00 PM PDT

The summer ended with a blast: Greece returned to center stage, and the Non-Farm Payrolls kept speculation high for QE3. Before things accelerate in this feared September, the markets are currently closed. For some of you, it’s a long weekend. Here are my weekend reading picks. Enjoy!

The amazing thing with the Greek bailout(s) is that it is a mechanism for securing a crisis every quarter. Each time inspectors come to Athens, they discover that Greece missed its targets and the scrambling resumes.

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EUR/USD Falls to Support on Fresh Debt Crisis Mess

Posted: 02 Sep 2011 06:59 AM PDT

The weak US Non-Farm Payrolls should have helped EUR/USD on hopes of dollar printing. But the meaning of this report for the global economy and the deepening crisis in Europe weigh heavily on euro/dollar, which is struggling at support

Greece is in trouble: it missed its deficit targets once again, and the next tranche of aid is doubted. We’ve been in this movie before. The EU / IMF delegation suspended its inspection in Greece for about two weeks. Do they hope that Greece will take some action in the meantime? Will the bad numbers morph into good ones?

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Gold Emerges as Winner from NFP, Oil is the Loser

Posted: 02 Sep 2011 06:07 AM PDT

The flat Non-Farm Payrolls was very disappointing and sent the dollar down. This was better seen in “safe havens” and less in other currencies. But with gold and oil, the outcomes are very clear.

Gold, that strengthened before the release, accelerated its moves and hit $1880. There’s still room until the all time high. Silver is following the same pattern and it managed to climb above $43.

Read the rest of the article Gold Emerges as Winner from NFP, Oil is the Loser

Non-Farm Payrolls Flat – Dollar Down Against Safe Havens

Posted: 02 Sep 2011 05:32 AM PDT

No jobs jobs were added during August in the US. This is below the 74K that was expected by economists. The unemployment rate remained at 9.1%, as expected. The chances of QE3 or any other special easing tools by the Fed are now higher. The dollar makes initial drops. This can reverse in this event, which is always characterized by high volatility.

EUR/USD began falling after an initial rise up to 1.4270, a bit higher than earlier and under the 1.4282 resistance line, it now reversed and is above the 1.4220 line. It is on the rise again. USD/JPY fell to 76.50 before ticking up, but it is lower. Also USD/CHF is lower.

Read the rest of the article Non-Farm Payrolls Flat – Dollar Down Against Safe Havens
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