Forex Info Center

Sentiment remains EUR/USD supportive

Sentiment remains EUR/USD supportive, but markets are in a wait-and-see mode ahead of the payrolls On Thursday, European (equity) markets started the trading session on a cautions footing, digesting the strong gains from Wednesday. A similar reaction was visible on the FX markets as EUR/USD fell temporary back below the 1.28 mark. However, the underlying sentiment toward the single currency remained constructive and any dips were still considered a buying opportunity especially as European

Czech bond yields at all time lows

Headlines Currencies: CE currencies eye US payrolls report Fixed Income: Czech bond yields at all time lows Czech Republic The holiday season mood still prevailed in the Czech forex market as the EUR/CZK pair hovered around the 24.75 level yesterday. There were no domestic events, which could bring a stronger price action (driven by domestic impulses). On the other hand, the Czech fixed-income continued to rally as it digested yesterday’s release of the thin issuance calendar for the last

EUR/GBP, USD/CAD, GBP/JPY Technicals

EUR/GBP 3rd September , 2010 Current level - 0.8312 Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area. Intraday: we didn't get the follow through in the breakout we expected to conside a change of direction. Staying bearish unless we see this weeks close above 0.8350 level.

US: Initial claims continued to trend down last week

In the week ended August the 28th, US initial claims dropped by 6 000, from an up-wardly revised 478 000 to 472 000, slightly below the consensus estimate of 475 000. The four-week moving average fell from 488 000 to 485 500. Continuing claims, which are reported with an extra week lag, dropped by 23 000 for an up-wardly revised 4 479 000 to 4 456 000. Although initial claims dropped for the second consecutive month, they are still at relatively high levels and haven’t almost dropped since the

long nzdusd

nzdusd long entry 0.7157 stop loss 0.7060 upside target 0.7230 at least *******************

EUR/USD Strategy: SHORT 1 at 1.3175, Obj: 1.2375, Stop: 1.3015

USD/JPY Strategy: Sell Limit 3 at 84.90, Objs: 83.85/82.27/79.65, Stop: 85.95 USD/JPY remains vulnerable having seen a deep retracement of last week’s potentially bullish lower shadow candlestick as medium-term downward pressure remains. While this week’s recovery high at 85.91 caps the short-term risk is seen to the downside, with risk of losing 83.60 for an attack on the all time low at 79.75 (posted in 1995) over coming weeks as the major downtrend extends. In the meantime, re-capture of

Eurodollar Future – December 2010

Comment: Eurodollar futures are trading roughly fifty basis points over Euribor ones, the widest since January 2009, while the spread between benchmark ten-year TNotes and JGBs at 150 basis points is the narrowest since then; probably another unintended consequence of a zero interest rate policy. Open interest in front Dec and March Eurodollar futures contracts remains high, probably reflecting year-end worries, as prices hover in the middle of ‘broadening top’ formations. Note that moving

Strategy for today: Short USD/JPY and USD/CHF

The trading strategies are based exclusively on technical analysis and are short term with a maximum time horizon of 3 to 5 days. The philosophy behind the Today's Trading Signals (TTS) is to take low risk, high return positions with tight stops. That means Financial Trend Analysis (FTA) focus the most on placing the right stops. Every morning FTA reviews the market and the specific strategy, recalculates the risk/reward and then determines the strategy regardless of previous strategy in the

Traders Await US Jobs Data

Markets remained nervous yesterday before today’s Non-Farm payroll measure of the US jobs market. GBP fell through the 1.20 level against the euro for the first time in 5 weeks while Jean-Claude Trichet was bold enough to raise growth predictions in the Eurozone. The dollar was flighty and traded within predetermined ranges as traders waited for today’s jobs whopper. Against the pound it was strong to 1.5330/50; the area that it has come up against resistance to any moves lower in its past few

The correction yesterday started in the European session

Markets: Fixed Income On Thursday, global bonds continued to correct lower and the curve steep-ened, again led by German bonds. We consider yesterday’s moves, follow through action on the correction that started on Wednesday and in which the surprisingly strong US ISM report played a key role. During the thinly traded Au-gust month, global bonds rallied relentlessly on the view that the US economy was sliding fast, eventually towards a double dip recession, even if that wasn’t already a

Forex Technical Analysis on Majors

EUR/USD Current level - 1.2821 EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206. The bias here is still positive for 1.2920 and the pair is well bid at 1.2780. Only a break below 1.27+ will mark an earlier reversal for the expected sell-off towards 1.2475.

Technical Summary for Majors

EUR/USD Recovery off 1.25861.2625, 24/31 Aug lows has reached 1.2855, just below off 1.2870, 38.2% retracement of 1.3332/.2586. To resume recovery, break above 1.2931 is required, while loss of 1.2740 would signal bear resumption. Res: 1.2855, 1.2870, 1.2903, 1.2931 Sup: 1.2775, 1.2741, 1.2725, 1.2693 GBP/USD The recent recovery from the 1.5325, 31 Aug low has tested the 23.6% retracement of the 1.5997/1.5325 downleg, at 1.5483. Although a further recovery phase may be possible a lower high

Market Comment

Daily Forex Overview

Previous session overview The dollar rose slightly against the yen in Asia Friday as stable Japanese share prices prompted hedge funds to try to trigger automated stop-loss buying orders. The U.S. unit stood at JPY84.29 as of 0450 GMT from JPY84.21 in New York Thursday as Asian hedge funds were modestly buying the dollar in the thinly traded market. The dollar index (DXY), a measure of the U.S. unit against a basket of currencies, fell to 82.384 from 82.401 late Thursday. The euro was at

USDJPY low trading range continues

AUDUSD - It looks like bulls have issues to continue climbing towards new highs. Look for selling options below support level. EURUSD - Bulls looking forward to extend their previous rally, however neutral situation is still valid. EURGBP - Bulls showed recently very strong power, however, bears trying to decline the price now. Buying options are still on a table. NZDUSD - Bulls recovering easily back to resistance, if bulls won't manage to breakout at resistance look for a rebound back to

The overall employment rate increased over the spring

Today’s Comment As usual, the US job report to be published today is the most important economic indicator of the week and the month, and after the slightly disappointing signals from the ADP employment figures on Wednesday, today’s figure will not attract less attention. The overall employment rate increased over the spring as more temporary workers were included in the counts, but when these were laid off at the end of June, we expect a slight decrease in the overall employment figure.

Forex - Flows - USD/TWD slipped; CBC denied contruction loans rates reports

Published at 06:51 (GMT) 03 Sep Prices continue to trade with a heavy bias into afternoon trades with the Taiex closing at +1.42% on US recovery hopes after last night's data though US Non-farm Payrolls should be the focus now. USD/TWD slipped to around the 31.950-mark at last indication; some focus on the news about rates for construction loans seen adding pressure: CBC has denied earlier reports in local newspaper that it is tightening construction loans financing - after it has asked for

Buckle up! It’s non-farm payroll day

Most currencies take a breather beforehand MAJOR HEADLINES – PREVIOUS SESSION US Q2 Final Non-farm Productivity out at -1.8% vs. -1.9% expected and -0.9% prior US Initial Jobless Claims out at 472k vs. 475k expected and revised 478k prior US Continuing Jobless Claims out at 4456k vs. 4450k expected and revised 4479k prior US Jul. Factory Orders out at +0.1% m/m vs. 0.2% expected and revised -0.6% prior US Jul. Pending Home sales out at +5.2% m/m, -20.1% y/y vs. -1.0% expected and revised

Forex - Chart EUR/NOK Update: Lower start

Published at 06:48 (GMT) 03 Sep 03 Sep EUR/NOK Daily 07:40 - The EUR's still drifting : now not far off the Jul-Aug bracketlow, but with 7.80 to look at as well if that fails. Early positioning is weak but tight - there's no immediate pressure to extend lower this am. A bounce will stall at 7.92, on the1st push at least. [NR] R5: 8.05~ * fr 1-Jul range high volm R4: 8.0445 31-Aug high R3: 7.95~ fr May range mid. R2: 7.935 30-Aug low R1: 7.915 * fr 12-Aug high volume S1: 7.849 * 2-Aug low S2:

Daily Forex Technical Commentary

GBP/USD Very little change here. We did try to test the 15334 level, and bounced smartly from 15346. Since then we’ve been drifting higher but have not yet reached our first resistance at 15451. The bulls have established a clear support zone from the 15323 low extending up to 15346, but ultimately they still have everything to prove, and the bias remains bearish. We’re making 15491 a bold level today because it was where the sharp rally failed on Wednesday, and it did lead