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The NY Opening Forex Commentary. Key levels through the GDP

Written January 28, 2011 at 7:54 AM EST by Greg Michalowski 

In the report, I will outline the key support and resistance levels to eye through the all important US GDP. GDP expected to show a gain of 3.5% vs 2.6% on an annualized basis. Personal Consumption and Exports are expected to buoy the gains.

Archived in Forex News, Forex Trading, Video

US Employment Cost Index & GDP Data due at 8:30AM

Written January 28, 2011 at 7:35 AM EST by Lawrence Fayman 

154153152

Archived in Economic Statistics, Forex News, Forex Trading, FXDD Today

Trichet speaking on Swiss television

Written January 28, 2011 at 5:36 AM EST by John Teister 

  • Euro is “very credible”.
  • Euro creating “confidence”.
  • Euro region recovery has been confirmed.
  • Recovery not creating enough jobs.
  • Important to improve stability pact.
Archived in Forex News, Forex Trading

Swiss KOF barometer 2.10.

Written January 28, 2011 at 5:31 AM EST by John Teister 

Archived in Forex News, Forex Trading

Swiss trading sideways

Written January 28, 2011 at 5:16 AM EST by John Teister 

USD/CHF hasn’t shown much conviction in either direction over the past 24 hours with some support at .94435 (on the move from Jan 24th highs down to the low on the 27th). With the Swiss KOF economic barometer coming up in less thanĀ 15 minutes, we may see a breakout in either direction.

1-28-hourly1

Fist bottom side target is .9399; which has shown some support this week. A move through the 38.2% line may bring us back to the 50%.

1-28-chf-kof

Archived in Forex News, Forex Trading

Euro area M3 growth was 1.7% and private loans grew 1.9%.

Written January 28, 2011 at 4:01 AM EST by John Teister 

Archived in Forex News, Forex Trading

Coming up in 30 minutes…

Written January 28, 2011 at 3:30 AM EST by John Teister 

1-28-eur-m3

1-28-eur-loans

Archived in Forex News, Forex Trading

ECB’s Bini Smaghi Comments on Ireland

Written January 28, 2011 at 3:07 AM EST by John Teister 

  • Doesn’t like the word “bailout” in reference to Ireland.
  • Terms on Ireland are “more or less standard”.
  • “Tried to apply equal treatment for everybody”.
  • It is not in Ireland’s interest to default.
  • It is “inevitable” for Irish taxpayers to address the crisis.
  • A haircut on senior bonds would spark on run on the banks.
  • Irish “drama” is partly due to government delays on a rescue.
  • Markets forced Ireland to accept the rescue package.
Archived in Forex News

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