CompassFX Webinar with Greg Michalowski Thursday 4:00PM
CompassFX is having a special webinar with Greg Michalowski this Thursday 4:00PM
US Mortgage Applications fall by 0.4% in current week
The US Mortgage Applications fell by -0.4% for the current week with purchases falling by -4.4% while refinancings increased 1.3%. The rate on 30 year mortgages fell to 4.54% while the rate on a 15 year mortgage fell to 3.67%. Versus a year ago, the 30 Year mortgage rate is doen from 4.81% and the 15 year rate is down from 4.26%.
ECB’s Draghi shares the view that a stable USD against major floating currencies is in the interest of the US and the global economy.
USD/CHF possible resistance @ .83765
The pair has been in a tight range this session after testing the 100 hour moving average at the end of yesterday’s trading day. Since then the pair has not been able to trade higher through the 23.6% line; additional resistance added by the 100 hour moving average which also comes in at this .83765 level. A push higher could see trading back towards the .8400 handle, but if resistance holds we look to .83257 as the bottomside target.
German April Industrial Production falls 0.6% from prior month
A rise of 0.1% was expected. Eur/Usd sold off 10 points to 1.4660 on news.
CompassFX Webinar with Greg Michalowski Thursday 4:00PM
CompassFX is having a special webinar with Greg Michalowski this Thursday 4:00PM
Eurozone GDP (q/q) 0.8% as expected.
Euro a bit firmer following the release.
Sterling weaker following UK rating news
Following the Moody’s comment, the GBP weakened against all of the major currencies. In the case of the GBP/USD, the pair made a new low of 1.63537; testing the 61.8% and beginning to develop a possible hourly trendline.
Moody’s says UK may lose AAA rating on weak growth
This according to analyst Sarah Carlson during interview with MarketNews.
French trade balance (m/m) -7144M vs. -5950M expected.
IMF on Japan’s economy, shrink by 0.7% in 2011, grow 2.9% in 2012
* Japan needs more ambitious mid-term fiscal policy
* more BoJ asset buys could ease inflation, boost growth
* budget could benefit from sales tax hike
* economy still facing headwind from earthquake
* economy expected to bounce back in summer; though downside risk unusually large
* economy to shrink 0.7% in 2011, grow 2.9% 2012
* delayed recovery could raise credit costs for banks
German trade balance 12.0B; worse than expected.
Swiss unemployment rate came in at 2.9%.
The market had a limited reaction to the release.
Japans economy watchers sentiment 36.0; better than expected.
- 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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- China Sets Yuan Reference Rate @ 6.3009
- Bank of Korea Keeps Interest Rates Unchanged @3.25%
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