Forex - Technical research
Forex - Fundamental research
Forex - Trading signals, forecasts and strategy
Forex - Currency reports and news
Saturday,
27 October 2007,
01:40 GMT
Forex - Fundamental research and
GCI Forex Research
by FX Research Desk
Fundamental Outlook
The euro appreciated vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4385 level and was supported around the $1.4315 level. The common currency established a new lifetime high today and traders are eyeing the $1.4400 figure as another upside target. The markets are now fully discounting a 25bps reduction in the federal funds target rate on 31 October and many traders believe the fed funds target rate could end the year at 4.25% or 4.00%. Data released in the U.S. today saw the final October University of Michigan consumer sentiment index print at 80.9, weaker-than-expected and below September’s reading of 82.0. Traders will pay close attention to this weekend’s meeting of the Gulf Cooperation Council for any indication that regional countries may modify or drop their U.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
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Friday,
26 October 2007,
03:04 GMT
Forex - Fundamental research and
GCI Forex Research
by FX Research Desk
Daily Recap and a day ahead
Daily Recap
EUR/USD near new high; FOMC rumours and 50bps expectations weigh on USD
Japan’s MoF declares carry trade positions unwound; equities unrest JPY +ve?
USD/JPY at key 114.60/ 113.80 levels (61.8% and 76.4% of Sept-Oct range)
Surprise gains in U.S. Sept new home sales likely a blip amid ongoing turmoil
U.S. core durables shaky for two consecutive months
German Ifo extends lower streak; German gov’t ups 2007 GDP; lowers 2008
Chinese Q3 and Sept data hot: Q3 GDP +11.5% y/y and Sept CPI +6.2% y/y
A$ at new decades-long high; chartists eye 0.9405 upside target
USD/CAD at new decades long-low; chartists eye 0.
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Friday,
26 October 2007,
00:32 GMT
Forex - Fundamental research and
GCI Forex Research
by FX Research Desk
Fundamental Outlook
The euro appreciated vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4345 level and was supported around the $1.4250 level. The common currency came within a couple of pips of establishing a new lifetime high and was pushed higher following a mixed bag of U.S. data. First, September building permits were upwardly revised to -4.6% but these data still evidence weakness in the U.S. housing sector. Second, September new home sales were up 4.8% to 770,000 annualized units, a rare bit of positive data for the beleaguered U.S. housing sector. Third, September new orders for durable goods were off 1.7%, principally on account of a major pullback in defense spending.
• EUR
• JPY
• GBP
• CHF
• AUD
• CAD
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Thursday,
25 October 2007,
00:25 GMT
Forex - Fundamental research and
GCI Forex Research
by FX Research Desk
Fundamental Outlook
The euro depreciated vis-a-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4190 level and was capped around the $1.4265 level. Technically, today’s intraday high and low were right around the 23.6% and 50% retracement of the move from $1.4015 to $1.4395. The common currency moved lower after U.S. financial giant Merrill Lynch wrote down US$ 7.9 billion from earnings on account of subprime mortgage problems and said the conditions remain “uncertain.” This reflects the troubled liquidity conditions faced by global financial firms this summer and to the extent that other U.S. financial institutions are forced to write down earnings, profits will be reduced in upcoming quarters and that will zap demand for U.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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Wednesday,
24 October 2007,
08:39 GMT
Forex - Fundamental research and
GCI Forex Research
by FX Research Desk
Daily Recap and a day ahead
Daily Recap
Risk appetite returns: N225, Hang Seng, DAX, CAC, FTSE, DJIA higher
USD/CAD at new multi-decade low: traders ignore Dodge’s verbal intervention
EUR/USD holds key 1.4160/ 15 levels and tested key 1.4270 area
A$ held key 0.8745 yesterday and tested key 0.8952 today: 0.8999 target
Paulson ups pressure on CNY; PBOC to gradually pursue convertibility
GBP up despite weak CBI survey and dovish chatter from MPC’s Barker
NZD absorbs 0.7514 resistance; 0.7574/ 93 upside objectives
Day Ahead
Oz Q3 CPI could dictate RBA’s move in Nov; > 2.0% y/y bullish
RBNZ likely to keep rates unchanged; 0.7590/ 95 a big target
ECB’s Gonzalez-Paramo and Draghi to speak; EUR verbal intervention likely
Sept existing home sales could drag USD lower
JPY crosses at key 23.
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Wednesday,
24 October 2007,
05:17 GMT
Forex - Trading signals, forecasts and strategy and
Technical Trading
by Nikolajs Serikovs, Analyst
Forex and Dow Jones recommended levels
October 24, 2007
GMT 05:08
EUR/USD
Today’s support: - 1.4236, 1.4218 and 1.4205 (main), where correction is possible.Break would give 1.4188, where correction also may be. Then 1.4170. Break of the latter would result in 1.4151. If a strong impulse, we would see 1.4118. Continuation will give 1.4086.
Today’s resistance: - 1.4280 and 1.4298(main). Break would give 1.4313, where a correction is possible. Then 1.4331. Break of the latter would result in 1.4352. If a strong impulse, we’d see 1.4374. Continuation will give 1.4400.
USD/JPY
Today’s support: - 114.06 and 113.82(main). Break would bring 113.59, where correction is possible. Then 113.
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Wednesday,
24 October 2007,
00:10 GMT
Forex - Fundamental research and
GCI Forex Research
by FX Research Desk
Fundamental Outlook
The euro reversed course and appreciated vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4280 level and was supported around the $1.4170 level. Technically, today’s intraday low was just above the 23.6% retracement of the move from $1.3360 to $1.4395. The common currency recovered after yesterday’s sharp moves as global appetite for risk returned to the market. The recent sharp sell-off in global equity markets was broken today. Most traders believe the U.S. dollar’s short-term fortunes will be dictated the FOMC’s interest rate decision and statement on 31 August. Traders are also speculating as to how FOMC policy will materialize in December.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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1.4213 / 16
1.7282 / 86
