Kneejerk sell-off in USD on big Fed cut. Will the sell-off last?
AUD buyers in a tizzy over Australian inflation data and renewed equity strength - but new market theme suggests big risk for the Aussie eventually. MAJOR HEADLINES ? PREVIOUS SESSION Overnight developments: Asian markets recouped much of the previous day’s losses in their Wednesday session overnight. Australia Q4 Consumer Prices rose 0.9% QoQ vs. 1.0% expected, but core prices rose at 1.0% rate vs. 0.9% expected. France Dec. Consumer Spending rose 2.0% vs. 0.8% expected Sweden Dec. Consumer
NZDUSD Channel The Currency Market’s Top Range
We recommended the NZDUSD?s rising trend channel as a range trade on Wednesday; and the strategy proved profitable today as we were entered and hit our first target before our second lot was stopped out at breakeven. Looking at the technicals after this trade, the setup for a range looks better today than it had two days ago. Our dominate technical formation remains the rising trend channel that found its start at the end of September. Trading Tip ? We recommended the NZDUSD?s rising trend
Bernanke Endorses “Quickly” Implemented Fiscal Stimulus Package
Bernanke Endorses ?Quickly? Implemented Fiscal Stimulus Package In NY trading Thursday, the dollar was higher against most key currencies but lower versus the yen and sterling. The dollar approached a 2 1/2-year-low against the yen. Sterling made modest gains following a hawkish speech by BOE Deputy Governor Sir John Gieve. The Canadian dollar fell to a 4-month low on concern that slower US growth will weigh on the Canadian economy. The Australian dollar earlier strengthened on the lower
G10 FX moves relatively subdued considering global equity panic
JPY surprisingly quiet overnight - is it a sign of weakness, or just a little calm before the storm? MAJOR HEADLINES ? PREVIOUS SESSION Overnight developments: Asian equity markets continued to nosedive, with the Hang Seng closing down -8%. Bank of Japan kept ratees unchanged at 0.50% as expected. THEMES TO WATCH ? UPCOMING SESSION Key event risks today (all times GMT): Switzerland Nov. Adjusted Retail Sales (0815) UK CBI Industrial Trends (1100) US Secretary of Treasury Paulson to speak
EURUSD: The 1.4751/52 Zone To Give Way Before Further Upside Incursions
EURUSD - Although the recovery off the 1.4364 low posted on the Jan 22?08 has seen EUR break and close above its key resistance at the 1.4751/52 zone, its Nov 09?07/Dec 11?07 on Thursday, holding above that area is now needed to increase further strength towards its Mid- Jan?07 high at 1.4921.A turn above there will set the stage for an acceleration towards its 2007 high at 1.4967 ahead of the 1.5000 level, marking its psycho level. The daily studies remain in alignment with the above scenario
EURUSD: Breaks Back Above Rising Trendline, Opens Up Risk Towards The 1.4751/52 Zone
EURUSD - While holding below the 1.4921,its Jan 15?08 high and the 1.4751/52 zone, its Nov 09?07/Dec 11?07 suggests continued pressure on the downside, the sharp reversal off the 1.4364 low on Tuesday pushing the pair back above its broken rising trendline and the formation of bullish engulfing candle pattern has opened upside risk towards the earlier mentioned resistance levels(1.4921 and 1.4751/52).Above there should trigger further acceleration towards its 2007 peak at 1.4967 with a break
EURUSD: Tumbles Through The 1.4823 and 1.4751/52 Levels
EURUSD - The rally off the 1.4310 low printed in Dec 20?07 suffered a set back on Wednesday after a follow-through to the upside was halted turning the pair lower for the second day in a row. It was seen weakening further in early morning trading today below the 1.4600 level. Although the 1.4310 level, which is the location of its Dec 20?07 low is yet to be reached, that level now serves as a trigger for EUR?s potential double top formed in late Nov?07(first top at 1.4967) and
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