ANZ - "Foreign direct investment is still a fundamental underpinning to the AUD. This has been related to large-scale LNG projects but is increasingly being seen in real estate as well. This is related to higher yields on Australian residential and commercial properties relative to those in the rest of the developed world. The exchange rate remains subject to reserve diversification out of the euro, yen and US dollar. Japan’s efforts to reflate its economy will heighten the urgency of this…Continue
Added by Francesc Riverola on April 5, 2013 at 5:11pm — No Comments
Westpac - "In the wake of today's weaker than expected US payrolls we have exited our EUR/USD short position at 1.2997. We opened the position on 8 March and added to it on strength for an average entry level of 1.3020. Stronger US data into early March was the main catalyst for the trade. Recent weaker US data is thus reason enough to scratch the trade.
Much has been made of supposedly biased US seasonal adjustment factors that have boosted jobs at the turn of the year in recent years…
Added by Francesc Riverola on April 5, 2013 at 5:05pm — No Comments
On March 27th I dropped here the possibility to work out all together to create the 1st eBook of this community:Continue
I like how this guys writes... makes things seem very simple
Well done Sebastien Galy!
Societé Generale - "This morning, the argument with a manager was that one may be a USD bull, but that we are headed currently for a period of weaker data (exclude this NFP print), leading to some USD underperformance. This suggests a period of consolidation and the usual fun with squeezing over-extended positions. The only risk is that the EM/USD trades turn from a…Continue
Added by Francesc Riverola on April 5, 2013 at 11:27am — No Comments
Fidelity Investments - The Bank of Japan (BoJ) held its first monetary policy meeting under the leadership of the new Governor, Haruhiko Kuroda, on 3-4 April. Amid heightened expectations, the qualitative and quantitative easing measures that it announced were bolder than anticipated and served to highlight a clear change in regime.
· The central bank shifted its policy target from the unsecured overnight call rate to the monetary base, which it committed to doubling within the next…Continue
Added by Francesc Riverola on April 5, 2013 at 10:48am — No Comments
Added by Giriprasad Krishnappa on April 5, 2013 at 10:34am — No Comments
The GBPUSD continued to maintain its bullish momentum the past few days, pressure now will be on the key resistance 1.5245, the GBPUSD will have to hold above the 1.5245 levels on a daily closing basis to push the market for further upside gains, If seen , it will aim 1.5320 where a breach will turn focus on the 1.5500 levels.
On the downside, a failure to hold above the 1.5245 levels, could mean a return to the 1.5033 levels, to reverse risks to the downside , the…Continue
EUR/USD was extremely volatile on Thursday, following the ECB rate announcement and remarks by ECB head Mario Draghi. The euro initially dropped about one cent, but then rebounded strongly to post gains on the day, as the pair closed above the 1.29 level. The ECB maintained interest rates at a record low of 0.75%. In the US, Unemployment Claims were a big disappointment, hitting their highest…Continue
Added by Yohay Elam on April 5, 2013 at 9:48am — No Comments
HSBC - "The JPY is likely to remain on the defensive for now. In the run-up to the meeting, the market had become wary that the BoJ would under-deliver and USD-JPY had weakened from close to 97 in March to 93. The knee-jerk reaction following the BoJ announcement has reversed much of this move, and it is likely that USD-JPY will continue to trade above 95 in the coming weeks. After all, the proposed pace of QE by the BoJ is roughly USD70bn a month, not far shy of the Fed’s USD85bn QE3…Continue
Added by Francesc Riverola on April 5, 2013 at 8:48am — No Comments
Finally the downside which lasted for two months is over, we are back again above the MA200. Mr.Draghi fueled the EUR rocket and now it's flying up with full speed, first restistance to break is 1.2950 then 1.3000 and 1.3030, finally 1.3080. We have support at 1.2910 and 1.2880 where is MA200, now serving as a good support. So my advice is buy above 1.2880 in the area 1.2880-1.2910 with target above 1.3000. Today some important data from Germany and in the beginning of the american session…Continue
Added by Carol Harmer on April 5, 2013 at 4:48am — No Comments
Tomorrow is the first Friday of the month, which usually means non-farm payrolls. The US jobs report for March is due for release at 8:30 a.m. EDT.Continue
Added by Curt Wehrley on April 5, 2013 at 4:37am — No Comments
USD/JPY yesterday formed a daily big white candle has formed. This is a bullish candle as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area (e.g., a moving average, trend line, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white…Continue
Added by Martin Kay on April 5, 2013 at 3:00am — No Comments
Recommendations: LONG positions above 1.2875 with 1.2940 & 1.3000 as next targets.
Alternative scenario: The downside breakout of 1.2875 will call for a rebound to 1.2835/1.2770.
Description: The pair trades above its support at 1.2875, above this level look for further upside gains towards 1.2940/1.3000 levels ahead of 1.3047 levels, an hourly close below 1.2875 will reverse risks to the downside…
National Australia Bank - "In FX markets, the key focus has been the Yen, after the Bank of Japan yesterday over-delivered on easing expectations. The BoJ announced that it would strengthen its quantitative easing program by buying JPY7 trillion of JGB’s per month gross, so the amount of JGB’s outstanding rises by around JPY50 trillion per annum. The BoJ intends to buy longer-dated bonds with maturity up to 40-years and also confirmed that it is aiming to achieve 2% inflation within two…Continue
Added by Francesc Riverola on April 4, 2013 at 8:39pm — No Comments
Societé Generale - "US data is now turning less buoyant and we expect further (temporary) slowing in spring. But the dollar can still do well in Q2 on rising euro area (EA) stress and the divergence of monetary policy expectations. Indeed, the race to the bottom isn’t completely over. The BoJ has delivered bold easing. The European currencies are most exposed, as both the ECB and BoE are mulling further action. In a shakier risk environment in Q2, the high-beta EM FX, like ZAR, should…Continue
Added by Francesc Riverola on April 4, 2013 at 8:33pm — No Comments
A new member of our community really made my day today! :)
You know that when you register here, we make a few questions to know if the new member is a real trader or just a spammer.
We ask: Why do you want to join our community?
Someone answered today: Because "you have the best analysis on the web."
I am really proud of you guys!
The best analysis on the web... Uauuuuu!!! :) :) :)
Marketing girls have put together a very nice Forex Memory game.... Come on and beat my staff. I saw Content Editor Pere Monguió that only took him 29 seconds to do it, while my best score was 43 seconds... and I played 4 times :(
... Let's see how good at pattern recognition you are :)…Continue