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Archive for July, 2009

Jul-31-2009

Summary 8/3 - 8/7

Monday, Aug 3, 2009
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Tuesday, Aug 4, 2009
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Wednesday, Aug 5, 2008
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Thursday, Aug 6, 2009
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Friday, Aug 7, 2009
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Jul-31-2009

Dollar Index at Key Support

The dollar fell in NY trading Friday as a government report showed the US economy contracted less than expected in Q2 2009. Private inventories declined sharply for a second quarter, making it likely that the Q3 2009 GDP will show a strong economic expansion as the record drawdown of inventories…

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Jul-31-2009

Forex Fundamental Outlook

The common currency has been bid higher from the US$ 1.40 handle since yesterday and finished the month on a strong note, in tandem with strong gains in U.S. equity markets. Data released in the U.S. today saw the June NAPM New York current business conditions index improve to 48.3…

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Jul-31-2009

Market Wire Update: Dollar Review

The markets sold the dollar and bought oil on Friday in a month-end move that ripped into the market as the European session closed. Equity trade did not back things, and that creates a question mark in regard to it’s sustainability. The move is about as parabolic as it gets,…

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Jul-31-2009

The U.S Economy Contracts Less than Expected as the Recession Abides…

Finally, Friday is here, and not just for the weekend, yet, it’s for the lengthily awaited GDP from the world’s largest economy, the figures that were waited strongly in the market to set the records straight, and as they say it, its time to separate the men from the boys!…

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Jul-31-2009

USD/CHF Continues Trade in a Range

The USD/CHF has continued to trade within a very tight price range that has been gradually consolidating. This has formed a consolidating triangle pattern, a technical indicator that can be used to help predict future breakouts. Typical with this type of pattern a trader would look for a breakout near…

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Jul-31-2009

US Economy Shrinks Less than Expected in Q2, but Initial Reaction Doesn’t Celebrate the News

The WSJ led with an article this morning (Bond Worry: Will China Keep Buying) analyzing this week’s treasury auctions and claiming that the relatively poor showing for the 2-year and 5-year auction this week were due to China’s refusal to consider buying US debt of longer than a year in…

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Jul-30-2009

London Session Recap

Risk appetite has failed to sustain upward momentum in European hours, stocks have pushed lower on jitters about the economic outlook ahead of the release of the US Q2 GDP data this afternoon. Overnight in Asia, rallying stock market has lent support to ‘risk’ currencies. EUR/USD hit a high of…

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Jul-30-2009

Forex Technical Update

Euro took daily trendline support at 1.4020 levels twice and moved up coupled by broad dollar weakness against all pairs. It needs a weekly close above 1.4150 to again make the outlook bullish. In Correction mode. (EUR/USD 1.4130)

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Jul-30-2009

Yen Crosses Surge On Revival In Risk Appetite

Risk appetite returned to the market overnight following the release of positive data in Japanese manufacturing. The dollar fell against most majors as investors grew optimistic. The EurUsd gained 36pts after finding support at 1.40, while the UsdJpy gained 60pips to the upper range of 95. The GbpUsd was one…

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