Sep 1, 2011

Forex Crunch GBP/USD Bounces Off Support Despite Weak Manufacturing PMI

Forex Crunch GBP/USD Bounces Off Support Despite Weak Manufacturing PMI

GBP/USD Bounces Off Support Despite Weak Manufacturing PMI

Posted: 01 Sep 2011 01:33 AM PDT

GBP/USD bounces off support as another month of contraction was reported in the manufacturing sector, but it wasn’t terrible. The purchasing managers index dropped to 49 points, within the low expectations of 48.9 points. 

Pound/dollar dipped to the 1.62 line prior to the release, on fear of a weaker figure, and is now back in the previous range.

Read the rest of the article GBP/USD Bounces Off Support Despite Weak Manufacturing PMI

A real about turn

Posted: 01 Sep 2011 12:42 AM PDT

Brazil's surprise half-point rate cut overnight comes as a surprising about turn from the tightening cycle that has characterised the past five meetings, which took rates up to 12.5%.  Furthermore, CPI is rising and at a 6yr high at 6.9%.  Nevertheless, the way was paved for a move on Monday by the government's decision to curb spending for the remainder of the year, hinting that this would pave the way for interest rate cuts if needed. 

Emerging markets weathered the credit crisis fairly well and in the subsequent period, whilst G7 output is still 1% below the pre-crisis peak, the BRICs have expanded a further 24%.  Still, it's a risky move given the current inflation dynamics and Brazil appears to have taken the view that it's a risk worth taking to given the Brazilian economy some room to cope with a slowdown in the advanced economies.  It's also in stark contrast to what we are seeing in China, where the authorities remain focused on containing inflation.

Read the rest of the article A real about turn

Forex Crunch Key Metrics August 2011

Posted: 01 Sep 2011 12:26 AM PDT

August is usually a month of vacation for many people and a slowdown in the markets. This August was quite crazy, and this is reflected in the site stats.

The beginning of the month saw a new daily record, around the credit rating downgrade of the US. Things eased towards the end of the month.

Read the rest of the article Forex Crunch Key Metrics August 2011

EUR/USD Sep. 1 – Falls to Support As Greek Situation Gets Complicated

Posted: 01 Sep 2011 12:01 AM PDT

Euro dollar remains pressured to the downside and falls to support in the wake of the new month. Finland insists on receiving collateral and this may delay the next package of aid for Greece or trigger a default. And in Greece, one bank was forced to request emergency aid. Today we get more hints towards the all important Non-Farm Payrolls in the US.

Here's a quick update on technicals, fundamentals and what's going on in the markets.

Read the rest of the article EUR/USD Sep. 1 – Falls to Support As Greek Situation Gets Complicated

AUD/USD Breaks Resistance on Positive Figures

Posted: 31 Aug 2011 11:39 PM PDT

The Australian dollar is riding higher on good data at home and in China. The impressive recovery is now moving through resistance. Will this break be confirmed?

AUD/USD is trying to break above 1.0720, a line that is struggling with in recent days. The third attempt might succeed, as the pair drifts higher.

Read the rest of the article AUD/USD Breaks Resistance on Positive Figures

Forex Daily Outlook – September 1 2011

Posted: 31 Aug 2011 02:00 PM PDT

ISM Manufacturing PMI in the UK and Nationwide HPI in the UK are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, weekly report for the number of unemployment that filed for insurance on the past week, reduce from 417K on July to 409K this week is expected.

Read the rest of the article Forex Daily Outlook – September 1 2011

Non-Farm Payrolls Critical For QE3 Decision – Preview

Posted: 31 Aug 2011 12:18 PM PDT

We again reach the monthly circus: Non-Farm Payrolls. And in this publication, it is of high importance due to the critical impact on the upcoming lengthened FOMC meeting due later in the month. NFP Preview.

Last month’s Non-Farm Payrolls report was finally good: not extraordinary, but a gain of 117K still points to growth, and not recession. That release, although being important as always, was overshadowed by Trichet’s initial refusal to help Spain and Italy, and later by the credit rating downgrade of the US. This release has all the stage to itself:

Read the rest of the article Non-Farm Payrolls Critical For QE3 Decision – Preview

USD/JPY Weakens, USD/CAD Bearish Threat

Posted: 31 Aug 2011 11:18 AM PDT

USDJPY: Weakens, Closing In On The 75.92 Level.

USDJPY:  With continued bearish threats seen, further weakness is expected to shape up towards its 2011 low at 75.92.

Read the rest of the article USD/JPY Weakens, USD/CAD Bearish Threat

EUR/USD Falls to Support on Positive US Figures, Greek Weakness

Posted: 31 Aug 2011 07:27 AM PDT

After very choppy and uninteresting trade earlier, euro/dollar dropped to support. A bulk of positive, or “not disastrous” US figures send the pair lower. Will we see a breakout?

ADP Non-Farm Payrolls were OK: not outstanding, but within expectations, and showed a gain of 91K jobs in August which ends now.

Read the rest of the article EUR/USD Falls to Support on Positive US Figures, Greek Weakness

ADP Shows Gain of 91K Private Sector Jobs in August

Posted: 31 Aug 2011 05:20 AM PDT

The ADP Non-Farm Payrolls indicator has shown a gain of 91K jobs in August, only marginally lower than a rise of about 100K that was expected, but a good result all in all. Currencies don’t see big changes following this release. EUR/USD is somewhat weaker, but still in range.

Last month’s gain of was revised from 114K to 109K, also a very marginal change. A similar rise in the officials Non-Farm Payrolls is expected on Friday.

Read the rest of the article ADP Shows Gain of 91K Private Sector Jobs in August
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)