Forex Technical Analysis
Wednesday 25 September 2013
Wednesday 12 December 2012
Daily Morning Report 12/12/2012 | Forex Trading analysis
Following what has been an impressive run this year, the
Australian dollar took a small breather against its U.S. rival in Wednesday’s
Asian session. A weak batch of consumer data appeared to be the
culprit.
In
news published earlier, the Westpac Melbourne Institute Index of Consumer
Sentiment posted a surprise 4.1% month-on-month drop in
December to 100.0 when expectations were for an increase (rose 5.2% in November)
after the RBA cut the cash rate earlier this month. The index is now below the
November 2011 level when the RBA first cut the cash rate in the current easing
cycle with cuts totaling 175 basis points so far. While consumers with mortgages
responded positively to the RBA rate cut (confidence rose 4.4% for this
category), other respondents were quite downbeat.
In other news, the U.S. dollar was modestly higher against some of
its major rivals in Wednesday’s Asian session and fractionally lower against
some of the other majors as traders wait for headlines out of the Federal Open
Market Committee later today.
Later Wednesday, the Federal Reserve concludes its final monetary
policy meeting of the year and with U.S. interest rates at historic lows, there
is little room for the central bank to affect change on that front. However, the
dollar will be in play as traders await the Fed’s sentiment on additional
quantitative easing. Monetary stimulus typically depresses the dollar and drives
riskier assets higher.
Friday 7 December 2012
Daily Morning Report 07/12/2012 | Forex Trading Analysis
The number of Americans applying for first-time claims for
unemployment insurance payments came climbed less than expected. The Labour
Department reported that applications for unemployment benefits rose to 370,000
last week, following an upwardly revision to 395,000 from 393,000 initially
reported the previous week.
The BoE
left its monetary policy unchanged at today’s meeting, maintaining the main interest
rate at 0.5
percent and the asset purchases at £375 billion. Britain’s central bank is
in a difficult position as inflation remains above the target, limiting
the bank’s ability to ease the policy, while the recession calls for more
accommodative measures.
Eurozone GDP showed a third-quarter contraction of 0.1 percent, to
reflect a 0.6 percent drop in annual. German factory orders was the exception to
the overall negative tone with orders rising 3.9 percent in October, to
represent a 2.4 percent contraction in annual terms
Thursday 6 December 2012
Daily Morning Report 06/12/2012 | Forex Trading Analysis
The Aussie Dollar! traded higher as the unemployment rate in
Australia beat expectations edging slightly lower to 5.2 percent in November and
added 13,900 new workers to the labour force. Remarkably, the economy shed 4,200
full-time workers while it seems the gains in November were the result of adding
18,100 new part-time staffers. The participation rate remained unchanged at 65.1
percent
The services industry in the United States is in tune with
consumer spending figures than the ISM manufacturing report released fell to its
lowest level of the year at 49.5 in November continues to grow and at a fast
pace.
Decline came when sales of Spanish 3, 7, and 10-year bonds
disappointed a maximum target of 4.5 billion Euros by only raising 4.25 billion
in the auction. Euro-zone retail sales were reported to have
declined 1.2% in October, the disappointing
number kept EURUSD below 1.3100. Later today the ECB will announce the interest
rate expectations are for the rate to be left at 0.75%. Also, an updated
estimate of the Euro-zone GDP for Q3 will be released the previous estimate saw
a 0.1% decline.
Wednesday 5 December 2012
Slight fall in New Business
The UK service sector registered little change in business activity during November as incoming new work fell slightly for the first time in nearly two years. A tough economic climate was commonly reported to have undermined efforts to secure new business. UK Stock! This also weighed on service sector confidence, with sentiment falling in November to the lowest of 2012 so far. After accounting for seasonal factors, the Business Activity Index recorded 50.2, compared to 50.6 in October.
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