Bank of America Merrill Lynch - "The Australia trade-weighted index (A$TWI) reached the highest level in over 28 years this week at 79.9. This came as other currencies continue to depreciate or remain at relatively low levels against both the US$ and A$. Chief among these has been the Japanese yen, which has depreciated around 28% against the A$ since October last year. But this also includes A$ appreciation against the euro, the Korean won and US dollar over recent months.
Added by Francesc Riverola on April 12, 2013 at 6:30pm — No Comments
Gold and silver changed course again this time slightly rose after they have tumbled down a day earlier. Major “risk related currencies” such as the Euro and Canadian dollar also rallied against the USD. Yesterday, it was reported that number of jobless claims declined by 42k to reach 388k. This news, however,…Continue
Added by Lior Cohen on April 12, 2013 at 3:39pm — No Comments
ING Bank - "In terms of the USD, we are comfortable being trapped in the narrative of a cyclically bullish dollar story. As Rob Carnell highlights, the US economy went into government sequestration on a strong footing. We doubt the US soft patch will weigh too heavily on the dollar (given the weak external environment) and a return to 3% growth in 2H13 can see the market credibly start to question the longevity of the Fed’s QE programme. That should move yield spreads move markedly in favour…Continue
Added by Francesc Riverola on April 12, 2013 at 2:04pm — No Comments
Goldman Sachs - "We forecast annualized returns ranging from 9% for the US to 21% for Asia ex-Japan.
(...) Our returns are mainly driven by earnings growth. (...) We expect annualized earnings growth ranging from 8% in the US to 21% in Japan. The strong earnings growth outside the US reflects a rebound from cyclically weak margins. We forecast P/E multiples to fall 1% annualized in Japan and rise elsewhere between 1% in the US and 4% in Asia ex-Japan.
(...) Our forecasts are based on…
Added by Francesc Riverola on April 12, 2013 at 1:31pm — No Comments
TD Securities - "In our April Global Markets published last week, we re- affirmed our forecast for a mid-year peak of USD1.05 for the AUD/USD, before gently sliding to USD1.03 by year-end, and further towards parity by mid-2014. The rationale is that although the AUD continues to be supported by positive structural factors, including global central bank diversification, its yield advantage is soon to be eroded as the Fed positions for a gradual withdrawal of QE by the end of this year.…
Added by Francesc Riverola on April 12, 2013 at 1:30pm — No Comments
EURGBP- The cross is currently seeing a third – day of declines, halting its correction recovery and turning focus to the 0.8462 level. This leaves the risk of further downside on the cards. In such a case, further weakness could be seen towards the 0.8350 level. Further down, support comes in at the 0.8300 level. Its daily RSI is bearish and poining lower suggesting further downside. The alternative scenario will be for EURGBP to continue its recovery and return to the 0.8520 level where a…Continue
Added by fxtech on April 12, 2013 at 12:27pm — No Comments
The current economic crisis in Europe has lead to a lot of problems for financial markets around the world. Although it has affected the stock market, bond markets and commodities, it has also had a profound effect on currency trading. This situation has lead to both good and bad things for the participants in the market.
Affecting Euro Pairs
The euro is half of many of the currency pairs in the market. The situation in the market has driven down the value…Continue
Yens kept their Bullish outlook but are losing momentum as corrective move remains pending. At current price JPY pairs are expected to go for correction. For Intraday traders keep your Shorts Short .
Detailed technical outlook on Eur/Jpy shown in the chart below.
AUD/USD yesterday closes with a daily white body.
A Daily spinning top has formed (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action as defined by the difference between the open and the close. During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.Three Daily white candles has formed during the last…Continue
Added by Martin Kay on April 12, 2013 at 8:31am — No Comments
Bank of Tokyo-Mitsubishi - "Euro-zone finance ministers are meeting in Dublin today and a final agreement on the bailout from Cyprus is likely to be agreed. However, this may be complicated by the reports that Cyprus’ bailout is already about EUR 6bn short. With Ireland holding the presidency there are also likely to be attempts to make some progress on ESM direct recapitalisation of banks, which both Ireland and Spain are pushing for but Germany is resisting. Ireland and Portugal are also…Continue
Added by Francesc Riverola on April 12, 2013 at 8:20am — No Comments
Majors has been trending as USD remain weak. Currently testing trendlines and Support and resistance zone. Expect Corrective moves in most pairs.
Outlook - USD Neutral to Strong…Continue
Added by Sardar Uddin on April 12, 2013 at 6:11am — No Comments
Added by Jyotiprakash Pal on April 12, 2013 at 6:00am — No Comments
Looking for a retracement on cable to 1.5360 try anpther long. 1.5400 is becoming the first resistanceContinue
Added by HectorFXtrader on April 12, 2013 at 5:41am — No Comments
EUR has made another upside attempt yesterday it was unsuccessful though we have a new maximum at 1.3737, then a pullback to 1.3086 support zone and finally bounced back above 1.3100. This morning EUR is calm with bullish mood and ready to make another upside test. If we are unable to record a new maximum with the beginning of the american session, the pair is very likely to suffer profit taking and to turn south unhappily. Today we have also the european finance ministers' summit and some…Continue
Added by Carol Harmer on April 12, 2013 at 4:21am — No Comments
Please have a look at this blown up chart. My focus is on the large blue candle marked with a yellow arrow. As you can see price action in the subsequent 14 candles has been contained between its high and low (indicated by yellow horizontal lines). Or to put it in another way, the bulls have not let go of their control.
I am therefore bullish on this pair and do not see any resistance before the 0.8800 area.
I look forward to your thoughts.…Continue
Added by Oasis on April 11, 2013 at 10:37pm — No Comments
GOLD: GOLD remains lower as it continues to look weak and vulnerable to the downside. This development leaves the commodity targeting further downside towards the 1,540 level where a violation will pave the way for a run at the 1,530.00 level. Further down, support comes in at the 1,500.00 level, its psycho level. We expect a price hesitation to occur here if tested but if broken we could see further decline towards the 1,478.05 level. Its daily RSI is bearish and pointing lower supporting…Continue
Added by fxtech on April 11, 2013 at 9:36pm — No Comments
Added by Francesc Riverola on April 11, 2013 at 5:30pm — No Comments
Official denials that Slovenia will need a bailout: Prime Minister Bratusek, Central Bank Governor Kranjec, EU Commission President Barroso, OECD Deputy Secretary-General Leterme.
EMU bailout denial record: 0 for 5