Forex

EUR/USD trades within the key moving averages as the economic data awaited

Greg Michalowski — Fri, 29 Aug 2008 08:24:54 -0400

The EURUSD is trading between the key 100 and 200 hour moving average as the pair continues to consolidate. Overnight the Eurozone CPI Flash estimate came in at 3.8%. This was lower than forecast and below the 4.0% rate from last month. The rate of 3.8% implies an unchanged reading on the MoM inflation rate for the Eurozone for August Also overnight, the Unemployment remained at 7.3%. Although down, the rate remains the highest of the major global economies. Finally confidence measure for business and consumers came out mixed versus expectations.

Forex News Preview:USD/CAD RMPI and IPPI due out at 8:30 AM EDT

Greg Michalowski — Fri, 29 Aug 2008 07:44:35 -0400

Forex Trading: The US dollar is starting to trade a little firmer

Greg Michalowski — Mon, 25 Aug 2008 13:36:53 -0400

There is no real catalyst. The Dow is down 200 points. Oil is unchanged - maybe a little lower. Nevertheless, the USDJPY moved back above the 109.21 level after stalling at the 109.01 level - 6 pips before the 61.8% support level of 108.95 (see earlier post).

EURUSD is down on the day now (closed at 1.4773 on Friday) after moving higher on the day for most of the NY session. The pair is now below the 100 and 200 hour moving averages at the 1.4783-1.4785 area.

Forex News: Markets are getting quieter and quieter.

Greg Michalowski — Mon, 25 Aug 2008 11:45:47 -0400

The holiday in Europe has taken a lot of the liquidity out of the market. The technical picture remains largely neutral. USDJPY has recently moved below the 100 hour moving average at 109.51. Support comes in at 109.21 (see chart below). Market turns neutral again above 109.54.

The EURUSD price is virtually on top of the key moving averages. GBPUSD is at the high of the day but is listless

Forex Week in Review: A look at the key releases and events that will shape forex trading

Greg Michalowski — Fri, 22 Aug 2008 20:25:13 -0400

To access the weeks Economic Report in PDF format click HERE

To all FXDD Customers,

Next week will be full of key economic releases that will shape the direction of currency trading.

In the US, the key housing statistics will be released with Exisiting Home Sales due on Monday and New Home Sales scheduled for Tuesday. The US will also have the release of Durable Goods Orders and 2nd quarter GDP revisions.

The Eurozone has German IFO data, Consumer Confidence measures and the Flash Estimate for the all important CPI on Friday.

Forex News Preview: Preview of the Key Economic Releases and Event for the week of July 20th

Greg Michalowski — Fri, 18 Jul 2008 15:26:13 -0400

Next week is a relatively quiet week with regard to economic releases and events. However, in the US the key home sales data will be released, in the UK the minutes to the MPC meeting will be released along with Retail Sales and GDP. Finally, in New Zealand they will have an interest rate meeting which could result in a surprise move.

To preview the key releases and events click on the following link

CLICK HERE TO ACCESS THE PDF REPORT

Thank you for your continued business and have a great weekend.

Greg Michalowski

Forex Trading: Oil down $4.00 and commodity sell off is helping stocks and the dollar

Greg Michalowski — Thu, 17 Jul 2008 13:49:51 -0400

Dow up 185.

Oil at 130.76. $130 support holding so far. As a guide for inflation watching, the front Crude Oil contract closed the month of June at around the $140 level. At $130, it would finally represent a break in the energy inflation that has been persistently leading to oversized gains in the CPI adn PPI inflation indicators. Is it too late, however.

EURUSD testing 1.5823 level which is the 50% retracement level of the last move higher. Watching this level. See chart below.

Forex News: Weekend Press from some global newspapers

Greg Michalowski — Sun, 13 Jul 2008 10:30:24 -0400

NY Times: "Fannie and Freddie Grew, Protected by Washington "

WSJ:"Fannie Mae Ugly"
"Crisis Deepens as Big Bank Fails"

Forex News Preview: NAB Business Confidence due out at 9:30 PM EDT

Greg Michalowski — Mon, 07 Jul 2008 17:52:57 -0400

The National Australia Bank Business Confidence will be released at 9:30 PM EDT. Last month the index came in at -4. This was the 5th month in a row that the index has been negative but the level was higher than the recent lows of -8.0. A negative number means those business seeing a weaker economy outnumber those expecting a growing one.

There is no estimate for todays figures. However, the recent change in Job Advertisements and Construction PMI came in weak yesterday.

Forex Weekly: A Look at Next Weeks Key Releases and Events for the Forex Market

Greg Michalowski — Fri, 04 Jul 2008 17:43:39 -0400

The weekly report of the key economic news and events for the week of July 7th to July 11th can be found by clicking on the following link.

CLICK HERE FOR THE WEEKLY REPORT IN PDF FORMAT

Thank you for your continued business, have a wonderful and safe weekend and a profitable week trading.

Greg Michalowski
Chief Foreign Exchange and Economic Analyst

* NOTE: The report was updated with the more recent UK Manufacturing Production chart on Sautrday at 1:00 PM