Royal Bank of Scotland - "My base case it that the Fed kicks off with a 10bn taper, 5 each for Tsy and MBS; this firms up the full taper projection. Our economists are calling for a 20bn taper. But our Treasury trader pointed out that this is per quarter. It makes sense that the Fed begins to use its quarterly full forecast/press conference meetings to announce QE taper steps, rather than adjusting every meeting. This gives them decent increments to assess the economic growth outlook between…Continue
Added by Francesc Riverola on September 18, 2013 at 7:49am — No Comments
Added by Jason Sen on September 18, 2013 at 7:05am — No Comments
Added by Jason Sen on September 18, 2013 at 7:02am — No Comments
Immediate signals for sentiment are not entirely clear because this week's early action has seen consolidation rather than trend.
But the last 2 weeks have seen steady demand that has taken sterling to 8 month highs.
The top of weekly Ichimoku Cloud has been broken for the 1st time since January
Both momentum and strength indicators are positive
And prices are ‘hugging’ the top of a bullishly trending daily Keltner channel.
So the tone is clear…Continue
MTG MARKET UPDATE 18.09.13
Today the most important economic news is FOMC meeting at 11pm,a big movement is expected. The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.
Added by Usman Ali on September 18, 2013 at 6:57am — No Comments
Added by Hedgeson on September 18, 2013 at 6:30am — No Comments
Added by Carol Harmer on September 18, 2013 at 5:59am — No Comments
Nothing interesting these days as the market is waiting for the FED decision to tap or not the QE today, so nothing interesting is going to happen until the american session. Yesterday's better than expected ZEW data didn't make the EUR to react too. Today a high volatility will present so place bigger stops or stay away from the market and leave the EUR to determine the direction. Once determined EUR will continue to move in the same direction for the next several days. So you will have…Continue
Added by muthusamy perisamy on September 18, 2013 at 3:00am — No Comments
Added by muthusamy perisamy on September 18, 2013 at 2:59am — No Comments
FOMC to begin tapering and start with more or less USD 11-16 bn. Around USD 5bn would most likely be considered dovish, but the muscle of USD20bn would push bonds higher than the 5bn to push them down. Why? Easy: post-Summers expectations of ongoing FED dovishness.
A dovish taper accompanied by more aggressive forward guidance could, at least at first, weigh on the dollar against the sterling $USDGPB if it erodes the currency's rate advantage.
In other words, it remains to be…Continue
Currently we are at 0.9354 after bouncing on the trend. We are looking for a bullish continuation to the Day chart DOWN trend line area @ 0.9403. Watch for profit taking there. The average daily true range (ATR) for the pair currently is 91 pips.…Continue
Added by Scott Barkley on September 17, 2013 at 1:14pm — No Comments
The Indian rupee has recovered strongly in the last few weeks which has coincided with the arrival of the new governor of the Reserve Bank of India, Dr. Raghuram Rajan (who started his new job on 4th September 2013) and he has been credited with the 8 per cent rally in the Indian currency against the US dollar.
At the end of August, the Indian rupee was perilously close to the 70 level against the US dollar and every one and his dog was saying how bad the Indian…Continue
Added by Ronnie Chopra on September 17, 2013 at 10:39am — No Comments
Recommendations: LONG positions above 1.3325 with 1.3385 & 1.3415 as next targets.
Alternative scenario:The downside breakout of 1.3325 will call for a slide to 1.3285/242 .
Description: The pair trades above its support 1.3325, stability above this level will build a pressure on the 1.3385/1.3415 levels,break of 1.3415 will advance the pair towards the 13451 levels, further upside will aim the 1.3520 levels.On the downside ,…
Gold lost it direction with no clear signal
S3: 1272 S2: 1288 S1: 1301 PP: 1317 R1: 1329 R2: 1346 R3: 1358
Added by Asim Rehman on September 17, 2013 at 8:49am — No Comments
We sent out a forex signal for a potential sell on GBPCAD. We have a confluence of reasons why as we have a triple top formation on the daily timeframe and yesterday’s high test bar gives us a great opportunity to entry this long term move with the benefit of matching RSI convergence.
The 1.6437 level has …Continue
GOLD has turned bearish last week and made a sharp sell-off to 1300 which looks like a wave three of three. As such, current small bounce or sideways price action is most likely wave four within ongoing downtrend in larger degree of a black wave 3 that may reach levels around 1280 in this week. We are bearish as long as 1358 level holds because we know that wave four must not trade into a territory of a wave one. Resistance for current wave (iv) comes in at 1335-1340.
Gold 4h Elliott…Continue
Added by Gregor Horvat on September 17, 2013 at 8:04am — No Comments
The prices of gold and silver started off the week on a positive note as both metals bounced back from last week’s tumble. But this rally might not last long with the FOMC meeting will reveal a change in its monetary policy that includes tapering QE3. The meeting starts today will end tomorrow with a press…Continue
Added by Lior Cohen on September 17, 2013 at 7:46am — No Comments
No extras in the race for FED Chairmanship, according to $WSJ. Yellen, dust yourself off and put on your best suit.
Still here on proud American soil, the CPI inflation is rising 0.2% mom in August, with the core index up 0.1%... Not much of a reason to smile, really.
In Germany, apparently the ZEW indicator is expected to improve from 42 to 49 in September... Autumn bought presents, it seems.
The UK is as boring as ever, with August CPI inflation…Continue
Added by Hedgeson on September 17, 2013 at 7:33am — No Comments