JULY 31ST 2008 FXDD FOREX VIDEO REPORT – NON FARM PAYROLLS – LAST DAY OF TRADING!

Written July 31, 2008 at 9:51 PM EST by  

JULY 31ST 2008 FXDD FOREX VIDEO REPORT – NON FARM PAYROLLS – LAST DAY OF TRADING!

Watch for high volatility around the US non-farm payrolls release.  Trade accordingly.

Archived in Misc, Video

Forex News AUD TD Securities Inflation MoM Out at +4.6%

Written July 31, 2008 at 8:43 PM EST by  

Prior Number +4.8%

Actual +4.6%

This index is released from Toronto Domino Securities Melbourne Institute and measures the rate of inflation experienced by consumers when purchasing goods and services.  This is more reflective of inflation since it is released monthly, and not quarterly like the official CPI numbers.

Archived in Forex News

Forex News AUD AIG Performance of Manufacturing Index Out at -46.9

Written July 31, 2008 at 7:31 PM EST by  

Prior -47.0

Actual -46.9

Number hovering around expectations. 

This is a seasonally adjusted composite index based on the indexes for production, new orders, deliveries, inventories and employment.  A reading above 50 indicates that manufacturing is generally expanding, and below declining.  A wider gap in the number from 50 is indicative of how strong the expansion or decline is.  This is the second straight number below 50 since May 2008.

Archived in Forex News, Misc

Forex Trading USDJPY Short Term MA Crossover Through Long Term on Daily

Written July 31, 2008 at 6:32 PM EST by  

USDJPY has been steadily climbing since it’s breakout (see earlier post).  The 10 and 21 Day MA have crossed through the 200 day MA and trendline resistance which in this humble analyst’s opinion is a confirmation of reversal on the long downtrend.  With negative USD weakness we could see a dip back to previous levels (see post).  Otherwise look for new high s on the daily chart.

Archived in Forex Trading, Misc

Forex News Preview: Asian Session- July 31st

Written July 31, 2008 at 4:13 PM EST by  

Prioir Manufacturing PMI at +47

Prior TDMI Inflation at +0.5%

The Manufacturing Purchasing Manager’s Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion. A rising trend has a positive effect on the nation’s currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
 
The TD Securities Melbourne Institute (TDMI) Inflation Gauge measures the rate of inflation experienced by consumers when purchasing goods and services. The Melbourne Institute, in conjunction with TD Securities, releases this indicator monthly. This is a much more timely indicator then the official quarterly CPI.
Archived in Forex News, Misc

Forex trading – Weak GDP will not be balanced by better Chi PMI

Written July 31, 2008 at 10:07 AM EST by  

GDP  2q +1.9% vs expected 2.3%
CHI PMI 50.8 vs 49.0
CHI PMI – prices paid the highest  since 1980 at 90.7

Archived in Forex Trading, Misc

Bobby’s Corner Market Open 7.31.2008

Written July 31, 2008 at 8:17 AM EST by  

Good Morning:

 

The dollar was a touch softer, as high inflation in the Eurozone added to speculation that the ECB may need to consider raising interest rates again this year.

  World Equity Markets were mostly higher, as are US Futures ahead of the US GDP data this morning.

 Oil: $125.78                                                    Gold: $908.00
 

Today we have data on:

 

GDP:                                          Exp: 2.3%                             Prior: 1.00%

Personal Consumption:                Exp: 1.8%                             Prior: 1.1%

Jobless Claims:                            Exp: 395K                            Prior: 406K

Chi PMI:                                     Exp: 49.0                              Prior: 49.6

NAPM- Milw                             Exp: 43.5                              Prior: 39

 Have a GREAT DAY and GOOD LUCK

Archived in Bobbys Corner, Misc

Forex Trading – USD/JPY Reviewing The Hourly vs. The Daily Retracement Levels

Written July 31, 2008 at 6:46 AM EST by  

In reviewing the hourly and daily US Dollar Yen charts we notice some themes and familiar levels as we watch the USD gain some momentum with July coming to a close. Notice below on the hourly chart the 100 day moving average support the pair, similarly the 50 day moving average has been providing support on the daily chart. In addittion the hourly retracement to 61.8% and the daily retracement to 38.2% have common support between the 106.38 and 106.56 range. (Click to view both)

Archived in Forex Trading, Misc

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