While we see a steady improvement in the home sales data; it is important to keep a close eye on the credit side of this sector as well. Trouble in this area could have far more dire consequences for the broader financial markets – much less housing. Another interesting, but under-the-radar, report to keep an eye on is building discussion about State bankruptcies. This would be similar in nature to EU members going bankrupt. Looking ahead to next week, both risk appetite and the dollar are prone to seeing dramatic developments in trend.
Saturday, January 22, 2011
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In the meantime, fundamental offerings on the US docket Friday were not immediately market-moving. The 4Q earnings season found a big boost from a range of important reports. GE and Google carried the upper end of the spectrum; but systemically important Bank of America reported a miss. What’s more, with the New York Fed trying to force the company to take back 10’s of billions of dollars worth of bad mortgages, its five-fold increase in loan loss provisions to $4.1 billion means this is a serious concern on both sides.
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It is in itself remarkable that this pair was the one to make significant progress (bearish progress at that) given its liquidity and fundamental anchor. At the same time, the absence of an aggressive move in underlying themes means the dollar will remain wide open to a dramatic shift particularly a plunge in risk appetite.Forex trading is not so simple but it is very efficient and now a days many businesses is related with forex
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It wasn’t an encouraging level to end the week. The US dollar managed to hold its bearings against the commodity currencies; but it stumbled when measured against the other majors. Notably, GBPUSD fully retraced the bearish progress traced out following its nine-consecutive day advance; while both USDJPY and USDCHF gave up more than half their gains from Thursday. However, the worst of the damage was assessed with EURUSD. Looking to end the week with little question about its bearings, the benchmark currency pair surged for the third time this week to easily clear the 1.3450 to 1.2900 congestion pattern that has restrained price action for nearly two months.
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The euro experienced a staggering slide in 2010, but it wasn’t as impressive as many pessimistic forecasts would let us believe. Still, the debt problems in the European Union persist and the crisis is spreading, therefore 2011 doesn’t look like a very good year for the shared European currency.The US dollar was weakening in 2010 amid the concerns about the US economy and as the quantitative easing damped the appeal of the currency. On the other hand, the dollar managed to rise somewhat recently. What the future holds for the US currency this year
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The Swiss franc was little changed after it dropped yesterday as the rally of stocks caused investors to turn their attention from the safe currencies to the The Swiss franc extended its gains today as concerns that the European banks would struggle to raise funds after their ratings were downgraded by the rating agencies increased the demand for the Swiss currency as the safe haven.
higher-yielding ones.The Swiss franc rallied today versus the US dollar on the speculation that the declining house prices would prompt the Federal Reserve to keep the interest rates near zero.
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The Swiss franc weakened versus the euro as the efforts of the European and Asian governments to contain the European debt crisis and the advance of commodities and stocks decreased demand for the currency as a safe haven.The Swiss franc rose for the third consecutive day versus the euro and strengthened against the US dollar today as the concerns about the financial problems of the Eurozone countries drive the investors to the safety of the Swiss
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The Swiss franc rose against all other major currencies except euro today, as the traders reacted on increased M3 money supply as a sign of a probability for a stricter monetary policy in the future, despite the commentaries by the central bank president.The Swiss franc continued to fall against the euro today, as the country’s economy minister voiced a concern over the franc’s current strength.The Swiss franc rallied today against the US dollar, heading to the record, as the leading economic indicators showed the sustainable economic growth.
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The unmistakeable homes sales and manufacturing figures from the U.S. last week helped raise jeopardy thirst resulted in the Dollar plunging significantly against the EUR. The bullish disinterestedness markets also continued to spunk the greenback lower last Friday. The EUR/USD mate was trading as height as the 1.4374 flat on Friday, and now trades at 1.4330. The GBP/USD vexed began Friday’s trading at 1.6442, and now stands at the 1.6535 knock down. This in itself indicates the very elaborate volatility that the forex shop has been universal through in fresh weeks.
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As far as the US is concerned, the Federal Reserve will announce its latest interest rate decision on Wednesday and most attention will be on the statement given that rates are likely to be left on hold.The latest US GDP report will also be watched closely on Friday to assess whether the economy was building momentum at the end of last year and yields will push higher if the growth rate is above 4.0%.
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The statement will describe economic conditions and any change in language used will be important in assessing whether the Fed members are thinking about any changes to the second quantitative easing programme. As it’s the first meeting of the year, there will also be the usual switch around in voting members and Hoenig who consistently dissented during 2010 will not be a voting member this time around. The dollar will need some evidence of a policy shift to make much headway
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24 hours previously, the UK GDP data for the fourth quarter and the latest government borrowing data will be released. Weaker than expected growth and worse than expected borrowing data would be a setback for Sterling, but the main action should be on Wednesday. Bank Governor King is due to speak on Wednesday and if the bank’s thinking has changed since the January meeting, then he is likely to signal this in the speech.As far as the US is concerned, the Federal Reserve will announce its latest interest rate decision on Wednesday and most attention will be on the statement given that rates are likely to be left on hold.
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The Bank of England minutes from January’s MPC meeting will be released on Wednesday. So far, we only know the bare bones of the decision – no change. The minutes will show the voting breakdown and the discussions that took place. It is certain that member Sentence will have again voted for a rate hike and the minutes will show whether there were other votes for an increase and whether members were moving closer to action.
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The EUR/USD dress down reached as drugged as 1.4374 last week, and it now stands at 1.4330. This has get about as the U.S. thriftiness and other peerless pandemic economies, such as Germany and France extend to mount out of the decline. On the other leg up, the British thriftiness hasn’t been fairing well as of up to the minute, as the EUR/GBP reprove opened at 0.8608 last Thursday. However, it now stands at 0.8680, which signals a failure in faith in the GBP since the outset of Thursday’s trading.
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The key congress in the latter part of last week in Jackson Hut, Wyoming, is conceivable to place a key r in USD trading for today and this week. Traders should go after news still saggy from the developments from this conclave that was attended by inside bankers and key fiscal experts. What's more, forex traders prerequisite to pay secure prominence to remunerative news that will draw near out of Britain and the Euro-Zone, as news from these 2 regions will plagiarize substantiate the greenback’s predominance against its major currency pairs today.
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The unmistakeable homes sales and manufacturing figures from the U.S. last week helped raise jeopardy thirst resulted in the Dollar plunging significantly against the EUR. The bullish disinterestedness markets also continued to spunk the greenback lower last Friday. The EUR/USD mate was trading as height as the 1.4374 flat on Friday, and now trades at 1.4330. The GBP/USD vexed began Friday’s trading at 1.6442, and now stands at the 1.6535 knock down. This in itself indicates the very elaborate volatility that the forex shop has been universal through in fresh weeks.
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One might regard forex as being somewhat simple: you just need to know which pair to trade, when to get in, and when to get out. (An exception to this is with carry trading, where you also need to pay attention to a few other factors). Here we discuss some of the major signals for knowing when to exit a trade. The basic set of tools, provided for free by most forex brokers, are almost identical to the entry signals. With entry, you look for a trend and jump in just before it starts. With exits, you simply look for the end of a trend or the beginning of a new one, and jump out before it’s too late. The big difference is that you are not usually looking for a new trend. By the time you can identify that a new trend has begun and is measurably significant
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Great Britain: Approved requests for mortgage decreased to 40 thousand in December. It became known today that a number of approved mortgage requests in Great Britain decreased to 40 thousand in December against the level of 45 thousand in November.On the other hand, the currency managed to rise against the Japanese yen today. The Forex traders reacted to the falling crude oil prices, while the dovish expectations for the Canadian interest rates continued to press on the currency. Oil (Brent), which is a major part of the Canada�s exports, fell from $97.79 to $96.34 on the spot market today.
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An early rally in the US indices and ongoing profit taking in FX triggered another massive slide on the dollar against the European and the commodity currencies, and a dollar/yen rally. Once the Fed met the market expectations and cut rates by 50 bps to 1%, stocks fell. The pattern seen during the past two days is in its final stages, so today the market should be even choppier than usual.
Euro/dollar.Above 1.3200, resistance is now seen at 1.3260. Distant resistance is at 1.3570 would signal a sustained recovery of euro/dollar.
Euro/dollar.Above 1.3200, resistance is now seen at 1.3260. Distant resistance is at 1.3570 would signal a sustained recovery of euro/dollar.
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