Daily Recap
- EUR/USD near new high; FOMC rumours and 50bps expectations weigh on USD
- Japan’s MoF declares carry trade positions unwound; equities unrest JPY +ve?
- USD/JPY at key 114.60/ 113.80 levels (61.8% and 76.4% of Sept-Oct range)
- Surprise gains in U.S. Sept new home sales likely a blip amid ongoing turmoil
- U.S. core durables shaky for two consecutive months
- German Ifo extends lower streak; German gov’t ups 2007 GDP; lowers 2008
- Chinese Q3 and Sept data hot: Q3 GDP +11.5% y/y and Sept CPI +6.2% y/y
- A$ at new decades-long high; chartists eye 0.9405 upside target
- USD/CAD at new decades long-low; chartists eye 0.9230 downside objective
Day Ahead
- Japanese CPI data due; a positive core CPI reading could see JPY carry unwinds
- German GfK likely to track Ifo lower; EMU-13 M3 may keep ECB hawkish
- Intraday kiwi support at 0.7515 opens up 0.7625/ 85 resistance
- EUR/GBP draws support at 0.6955; 0.6995 upside target
- CH Sept inflation to lend clues on Dec SNB move
- Final Oct U of Mich sentiment could add support to FOMC rate cut views
Chart to Watch
|
|
CHF/JPY Today’s high tested key 23.6% retracement (1) of 92.14-99.96 range and 61.8% retracement of broader 101.84-92.14 range. Move higher opens up 98.20/ 98.61/ 99.13/ 99.55 resistance.
|
|
|
|
|
|
GMT:
13:44 |
London:
13:44 |
Tokyo:
21:44 |
Sydney:
22:44 |
New York:
08:44
|
|
Recent articles:
|
in GCI Forex Research
|
Wednesday,
19 November 2008,
04:01 GMT
Research
>
Forex - Fundamental research
Fundamental Outlook
The euro moved marginally lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2570 level and was capped around the $1.2685 level. Traders are closely watching congressional testimony from Federal Reserve Chairman Bernanke and Treasury Secretary Paulson today.
|
Monday,
17 November 2008,
01:19 GMT
Research
>
Forex - Technical research
Weekly market recap
The euro depreciated vis-à-vis the U.S. dollar last week as the single currency tested bids around the $1.2385 level and was capped around the $1.2925 level. The pair lost about 115 pips last week. The U.
|
Sunday,
16 November 2008,
00:56 GMT
Research
>
Forex - Fundamental research
Fundamental Outlook
The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2705 level and was capped around the $1.2825 level. Traders are wondering what news may emerge at this weekend’s Group of Twenty meeting in Washington, D.
|
Thursday,
13 November 2008,
01:24 GMT
Research
>
Forex - Fundamental research
Fundamental Outlook
The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2605 level and was supported around the $1.2475 level. The U.S. dollar went on a tear yesterday after NYMEX crude oil futures for December delivery fell below the $60 level per barrel.
|
Wednesday,
12 November 2008,
01:34 GMT
Research
>
Forex - Fundamental research
Fundamental Outlook
The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2675 level and was capped around the $1.2800 figure. Traders are deliberating the likelihood of additional monetary easing from both the European Central Bank and Federal Reserve before the end of the year and again in Q1 2009.
|
Monday,
10 November 2008,
02:28 GMT
Research
>
Forex - Technical research
Weekly market recap
The euro appreciated vis-à-vis the U.S. dollar last week as the single currency tested offers around the $1.3115 level and was supported around the $1.2525 level. The pair gained about 15 pips last week.
|
|
in other categories
|
Tuesday,
18 November 2008,
06:29 GMT
Research
>
Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
Technical Trading
November 18, 2008
GMT 06:07
EUR/USD
Today’s support: - 1.2577, 1.2532, 1.2490 and 1.2476(main), where correction is possible. Break would give 1.2453, where correction also may be.
|
Monday,
17 November 2008,
08:12 GMT
Research
>
Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
Technical Trading
November 17, 2008
GMT 08:03
EUR/USD
Today’s support: - 1.2490 and 1.2476(main), where correction is possible. Break would give 1.2453, where correction also may be. Then follows 1.
|
Friday,
14 November 2008,
05:04 GMT
Research
>
Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
Technical Trading
November 14, 2008
GMT 04:56
EUR/USD
Today’s support: - 1.2679 and 1.2642(main), where correction is possible. Break would give 1.2624, where correction also may be. Then follows 1.
|
Thursday,
13 November 2008,
16:26 GMT
Press Releases
Learn To Trade Currencies This Fall
FXCM news
FXCM (http://www.fxcm.com?CMP=PR-TradeCurrencies)
joins CNBC.com for the second time as the exclusive currency trading sponsor in
the CNBC.com Million Dollar Portfolio Challenge.
|
Thursday,
13 November 2008,
06:27 GMT
Research
>
Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
Technical Trading
November 13, 2008
GMT 06:20
EUR/USD
Today’s support: - 1.2418(main), where correction is possible. Break would give 1.2394, where correction also may be. Then follows 1.2380.
|
Wednesday,
12 November 2008,
07:25 GMT
Research
>
Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
Technical Trading
November 12, 2008
GMT 07:21
EUR/USD
Today’s support: - 1.2540 and 1.2463 (main), where correction is possible. Break would give 1.2421, where correction also may be. Then follows 1.
|
|
1.2638 / 41
0.8403 / 07
