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Will ISM Manufacturing take the EUR/USD to 1.36?

Posted by forex in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

How Will The Markets React?

Next week, the US economic calendar will be exceptionally busy and US manufacturing ISM is the first of many key pieces of data due for release. Regional indexes have been strong.  Both the Empire State and Philadelphia Fed surveys jumped in the month of June.  The Empire State survey reached a 1 year high while the Philly Fed survey hit the highest level since March 2006.  Even though Chicago PMI fell in the month of June, it still remains above 60, which is well into expansionary territory.

Overall, the regional indexes suggest that the national index will be strong but when it comes to the ISM, there is always more than meets the eye.  With US growth and inflation being the market’s top focus, the employment and prices paid components will be closely scrutinized.  The employment component is a leading indicator for non-farm payrolls while prices paid will shed some light on how concerned the Federal Reserve should be about inflation.  The prices paid component of the regional indices all dropped, so even if the headline number increases, the reaction in the US dollar could be tempered by any downward surprises in the inflation component.  Going into the number, the bond and currency markets are not expecting a stronger release.  Yields are down sharply while the dollar has sold off.  The rebound in the stock market entails a bit optimism, but overall the financial markets are not expecting a strong number.  Having already sold off significantly, bonds will probably see a limited reaction to a weak number.  The bigger move will be in the EUR/USD and the stock market.  In the event that the headline does overshadow prices paid, then we could see a bigger move in yields, stocks and USD/JPY, which has the advantage of carry.

Will ISM Manufacturing take the EUR/USD to 1.36?

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Dollar In Retreat As Weak Consumer Data Adds To Soft Inflation

Posted by forex in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

Today’s economic calendar was a good follow up to the Fed’s decision to leave rates unchanged at the end of its two day meeting yesterday. The central bank’s favored inflation gauge cooled to a new multi-year low, while weak consumer spending numbers added another facet to the concerns for the economy.

The dollar’s tumble was clearly seen in the EURUSD’s take off. The pair made one more test of1.3430 support before taking off on a gradual 110-point climb to 1.3540. USDCHF threw the market off after its push through resistance yesterday evolved into a false break and then sharp sell off this morning. After 120 point drop for the greenback, USDCHF was trading near 1.2215 support with few technical levels in the vicinity. Interestingly enough, the usually active British pound was conservative in its advance against the dollar as the pair rose only 65 points from overnight lows before finding a weak ceiling at 2.0075. Finally, it was a battle of the weakest for USDJPY as the pair spent most of the day in a 30 point range below 123.55.

Dollar In Retreat As Weak Consumer Data Adds To Soft Inflation

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Change in position

Posted by Bjorn Bos in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

Just sold my long position GBP/USD @ 1.9990 and went short. This is a very short term trade. I expect it to go down once more to around 1.9960 and then I will go long again. Also changed my EUR/USD position @ 1.3464 from long to short (same strategy as GBP/USD).

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2 Moves made this morning

Posted by Bjorn Bos in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

First of all, my long on the USD/CAD from yesterday seems to work out fine, currently up 20 pips. I am holding this position as I expect it will move to around 1.0730 later today. I just added a long on GBP/USD @ 1.9999. It is finally breaking the 2.0000 level and it looks like this [...]

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EUR/USD Weekend Review

Posted by Bjorn Bos in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

EUR/USD has not been able to break 3500 this week, but has gained around 80 pips. It will be very interesting to see if it can break this psychologically important level this week. Although Euro data was not very good this week, comments from ECB President Trichet about higher rates coming soon moved up the [...]

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USD/CAD Weekend review

Posted by Bjorn Bos in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

Hi there, Sorry for being away for a while, but I will try to update my blog everyday from now on. If we compare the opening and closing data of USD/CAD for last week we see a very small change in price. Difference between weekly high and low is about 150 pips so it hasn’t moved a [...]

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Investment returns an absolute washout?

Posted by ~ in Advice and Tools, Automated Trading, Blogs, Expert Advisors, FX Industry News, Financial News, Forex, Forex Analysis, Forex Brokers, Forex Feeds, Forex Forecasts, Forex Indicators, Forex News, Forex Signals, Forex Strategies, Forex Technical Analysis, Forex Trading Times, Forex Update, Forex Video News, Fundamental Analysis Reports, General News, KDB, Managed Accounts, Reviews, Times to Trade Forex, Trading Forex, Trading Systems, businessNews

Standard & Poor's Funds Services, the qualitative fund management ratings provider, has revealed that none of the funds in its current survey of the absolute funds sector, met their own investment

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Meet the Roth 401(k)

Posted by SmartMoney TV in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

For many workers, it's the best way to save for retirement.

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Posted by FRB: DDP: Aggregate Reserves (H.3) in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

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Posted by SmartMoney TV in FX Industry News, Financial News, Forex, Forex Feeds, Forex News, Forex Update

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