Forex Info For Your Trading

qcnick90 · #1 (**permalink**) 08-03-2008, 09:50 PM

U.S. Dollar Trading (USD) the much anticipated July Nonfarm Payrolls failed to impact the markets as the data came in mixed. Employment change of -51K was better than the -75K expected but the Unemployment rate notched up to 5.7% from 5.6% in June. Also released the July Manufacturing ISM beating expectations at 50 vs. 49.3 forecast. The USD on the whole was slightly better bid even as stocks weakened and Oil gained. In the U.S. share markets, the NASDAQ was down 14 points (-0.65%) and the Dow Jones was down -51 points (-0.45%). Crude Oil closed up $1.02 ending the New York session at $125.10 per barrel. Looking ahead, June Core PCE m/m expected at 0.2% and June Factory Orders seen at 0.7%.

qcnick90 · #2 (**permalink**) 08-03-2008, 09:51 PM

The Euro (EUR) was initially sold after US Jobs data but recovered as Oil moved higher. Also hurting sentiment was the June German Retail Sales down 1.4% vs. expectations of -0.5%. Overall the EUR/USD traded with a low of 1.5514 and a high of 1.5604 before closing the day at 1.5544 in the New York session. Looking ahead, June PPI forecast at 0.8% m/m and 7.9% y/y.

Euro – 1.5565

Initial support at 1.5515 (Aug 1 low) followed by 1.5493 (June 30 low). Initial resistance is now located 1.5603 (Aug 1 high) at followed by 1.5710 (76.4% retracement of the 1.5303 to 1.6038 advance).

qcnick90 · #3 (**permalink**) 08-03-2008, 09:53 PM

The Japanese Yen (JPY) gained against most currencies as carry trades were unwound with only the USD remaining near opening levels. AUD/JPY and NZD/JPY continued to make new lows. Overall the USDJPY traded with a low of 107.28 and a high of 107.89 before closing the day around 107.69 in the New York session.

Yen – 107.55

Initial support is located at 107.29 (Aug 1 low) followed by 106.58 (July 25 low). Initial resistance is now at 107.91 (Aug 1 high) followed by 108.38 (Jul 31 high).

qcnick90 · #4 (**permalink**) 08-03-2008, 09:54 PM

The Sterling (GBP) was on the back foot as Manufacturing PMI fell to 44.3 in July and the USD was broadly bid. Ongoing concern about the UK economy heading into the MPC meeting weighed. Overall the GBP/USD traded with a low of 1.9729 and a high of 1.9841 before closing the day at 1.9735 in the New York session.

Pound – 1.9745

Initial support at 1.9728 (Aug 1 low) followed by 1.9650 (July 7 low). Initial resistance is now at 1.9842 (Aug 1 high) followed by 1.9929 (July 31 high).

qcnick90 · #5 (**permalink**) 08-03-2008, 09:57 PM

The Australian Dollar (AUD) extended falls as the market speculation of rate cuts hit fever pitch. The RBA meets on Tuesday and is expected to hold rates at 7.25%. Overall the AUD/USD traded with a low 0.9293 and a high of 0.9417 before closing the US session at 0.9296.

Gold – 910

Initial support at 902.5 (Aug 1 low) followed by 894.5 (July 31 low). Initial resistance is now at 925.2 (July 31 high) followed by 935.30 (July 25 high).

qcnick90 · #6 (**permalink**) 08-03-2008, 09:57 PM

Gold (XAU) continued to fall as the USD strengthened, unable to sustain gains on the back of a rally in Oil. Overall trading with a low of USD$902.90 and high of USD$916.90 ending the New York session at USD$910 an ounce.

qcnick90 · #7 (**permalink**) 08-14-2008, 09:26 PM

U.S. Dollar Trading (USD) continued to gain as US CPI surged to 17 Year Highs. July m/m Jumped 0.8% and an 5.6% annual rate. July Core CPI was more moderate at 0.3% slightly higher than the 0.2% expected but adding to arguments for interest rate hikes to control inflation. Weekly Jobless claims remained high at 450K, slightly greater than the 440K forecasted. The Dollar also found strength through another significant fall in commodities and gains in the US share market. In the U.S. share markets, the NASDAQ was up 25 points (1%) and the Dow Jones was up 82 points (0.72%). Crude Oil closed down $0.99 ending the New York session at $115.01 per barrel. Looking ahead, June TIC Net Long-Term Transactions are forecast at $65 Billion. July Capacity Utilization is seen at 79.8% along with Industrial Output at 0.0%. Also released is the Preliminary August Consumer Sentiment expected at 62 up slightly from 61.2 in July.

qcnick90 · #8 (**permalink**) 08-14-2008, 09:30 PM

The Euro (EUR) received a small boost as German Q2 GDP was not as bad as expected at -0.5% vs. -0.8% forecast. July Eurozone Inflation ticked down to 4.0% Y/Y from 4.1%Y/Y in June supporting the view that inflation had topped last month. Q2 Provisional GDP was seen at -0.2% for the Eurozone confirming the weakening growth outlook. Overall the EUR/USD traded with a low of 1.4777 and a high of 1.4936 before closing the day at 1.4780 in the New York session. Looking ahead, Public Holiday in the Eurozone.

qcnick90 · #9 (**permalink**) 08-14-2008, 09:32 PM

The Japanese Yen (JPY) lead by the USD/JPY which regained a lot of the losses seen on Wednesday’s carry trade unwind. AUD/JPY and NZD/JPY had considerable bounces during the European session and Strong US stocks also supported. A slide in commodities towards the end of the day capped further gains in the crosses. Overall the USDJPY traded with a low of 109.03 and a high of 109.99 before closing the day around 109.60 in the New York session.

qcnick90 · #10 (**permalink**) 08-14-2008, 09:33 PM

The Sterling (GBP) managed a slight recovery during the European session after the heavy falls seen yesterday but was unable to sustain the gains as the USD started to appreciate on falling Oil and increasing US rate hike speculation. Support at the 1.8620 held for the time being. Overall the GDP/USD traded with a low of 1.8619 and a high of 1.8788 before closing the day at 1.8680 in the New York session.