CompassFX Webinar with Greg Michalowski Thursday 4:00PM
CompassFX is having a special webinar with Greg Michalowski this Thursday 4:00PM
Bank of England’s Tucker Comments
BOE’s Tucker: “Confidence seems to have stabilized and economic activity improved a bit” – WSJ in update of earlier statements
Bank of Japan’s Shirakawa Comments
BOJ’s Shirakawa: Japan industrial production and GDP to improve in Q2; Will consider revising economic assessment next week
- Weak job market and CAPEX will also impact domestic demand.
- Fiscal policy increasingly meaningful when interest rates are near zero
Fitch on Mexico
Fitch says Mexico will need a “plan B” to avoid downgrade if govt cannot pass a tax reform
Economic Calendar (6/10/2009)
Wednesday, June 10, 2009
Austalian Home Loans
Following a much better month over month Consumer Confidence number and Aussie trading off session highs, the following April releases have not triggered a market reaction:
Home Loans – Survey:1.5% Actual:0.9% Prior:4.9%
Investment Lending – Actual:8.9% Prior:4.7%
Value of Loans (MoM) – Actual:1.9% Prior:7.3%
CompassFX Webinar with Greg Michalowski Thursday 4:00PM
CompassFX is having a special webinar with Greg Michalowski this Thursday 4:00PM
Aussie Consumer Confidence
The Westpac Consumer Confidence figures for June came in at 12.7%, significantly stronger than the April reading of -4.3%. The Aussie and Kiwi moved 20 pips higher on the positive release.
Jpy Core Machinery Orders m/m & CGPI y/y came out worse then expected
Jpy Core Machinery Orders m/m came out -5.4% compare to 0.1% much worse then expected.
Jpy CGPI y/y came out -5.4% worse then expected of -5.1%
New Zealand Terms of Trade Index
The NZ Terms of Trade Index for the 1st quarter expected to be down -3.8%, came in better than expectations at -3.0%, but worse than the prior quarter over quarter reading (-0.9%.) The Card Spending figures for May were also released at 0.9, better than the the prior reading of 0.3. The market has had no reaction to these relatively insignificant releases, as the markets await tomorrows rate decision.
Forex Market Update for June 09 2009 afternoon edition
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FXDD Today and Tomorrow: A recap of today and preview of tomorrow June 10th
FXDD Today and Tomorrow is now available for download. The concise one day report, gives a snap shot of the market near the close of trading. It also gives a picture of the trend of the major economic releases due out over the next 24 hours. To access the report click on the following link:
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Greg Michalowski
Trading forex is risky and should only be done with risk capital that will not change your lifestyle. Traders could lose all of their risk capital trading forex. FXDD does not guarantee any recommendation made within this commentary. Traders should make market assessments and take trading positions based on their own personal market analysis, risk tolerance and financial condition. In addition, care should be made to only use leverage which is congruent with your personal risk tolerance. Although care was taken in creating this report, FXDD does not guarantee the accuracy of the information
Eur/Usd is showing a reversal signal with a shoulder, head, shoulder.
Eur/Usd 4 hourly chart formed a shoulder, head, shoulder which is a reversal signal and gives you a target of 1.3850-80 level. You calculate this target by using the top of the head and the neck-line which is 1.4340 – 1.4110 and minus it from each other which gives you 230 pips, take that number and minus that from the break out point which is 1.4110 and that gives you an area of 1.3850-1.3880. The currency pair pulled back looking to retest the neck-line if the neck-line holds this might signal a trend reversal and might see a stronger dollar in the long run.
Again we see a shoulder, head, shoulder forming on a daily line chart but it is not complete yet. We need to see the second shoulder form to have a confirmation, and from there we should see the Eur/Usd trade a lower, after it breaks through the neck-line.
Break, Break, Break, Break, Break
AUDUSD moves above the resistance levels and is poised to move higher
The AUDUSD broke the trio of resistance levels and looks poised to move higher. The pair moved through the 100 hr moving average, the 50% retracement and the 200 hour moving average. The next target would be the 0.8044
- kenny on EURUSD tests 200 hour MA. Look for support against level
- Greg Michalowski on EURUSD tests 200 hour MA. Look for support against level
- kenny on EURUSD tests 200 hour MA. Look for support against level
- Greg Michalowski on EURUSD tests 200 hour MA. Look for support against level
- kenny on EURUSD tests 200 hour MA. Look for support against level
- Jan SFO
- Wall Street Journal 1-31-12
- CNNMoney 1-30-12
- Reuters 1-24-12
- CNNMoney_Stocks to get boost from China
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Forex Trading
- UK Industrial Production (Dec) 0.5% vs. 0.2% expected (-0.7% prior).
- UK Visible Trade Balance -7111 mln vs. -8600 mln expected.
- UK Manufacturing Production (Dec) 1.0% vs. 0.2% expected.
- Equities higher, Euro following
- Spain’s finance minister says there are no plans for additional tax increases.
Forex News
- China’s January CPI & PPI
- China Sets Yuan Reference Rate @ 6.3009
- Bank of Korea Keeps Interest Rates Unchanged @3.25%
- New Zealand Q4 Employment Report
- South Korean Producer Price Index
Economic Statistics
- China’s January CPI & PPI
- China Sets Yuan Reference Rate @ 6.3009
- Bank of Korea Keeps Interest Rates Unchanged @3.25%
- South Korean Producer Price Index
- Canada Housing Starts Data Due at 8:15AM
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