- 
- 
- 
Welcome,
Guest!
Fundamental
Currency Trading Summary
0
votes
U.S. Dollar Trading (USD) had its largest rally in two months as risk aversion spiked higher after weak US jobs data put the recovery story in doubt. Oil slipped over 4% as less jobs indicates consumer demand should remain weak. June Non Farm Payrolls at -467k (F.-360k) and Unemployment Rate at 9.5% vs. 9.6% forecast. Crude Oil closes down $2.58 to close the day at $66.73. In US share markets, the Nasdaq was down 49 points or -2.67% and the Dow Jones was down -223 points or -2.63%. Looking ahead, July 4th Holidays.
The Euro (EUR) found support at 1.4000 although heavy selling finally pushed the pair through the major pivot level. ECB held at 1.0% but Trichet stressed they could still go lower if confidence falters. EU Unemployment jumped to 9.5% vs. 9.2% previously. Overall the EUR/USD traded with a low of 1.3926 and a high of 1.4150 before closing at 1.3940. Looking ahead, May retail Sales forecast at -0.1% vs. 0.2% previously. The Japanese Yen (JPY) was the strongest currency as traders dumped there long AUD/JPY and EUR/JPY and GBP/JPY post US Jobs Data. USD/JPY was dragged down to the 96 Yen level but found support on dips below. Risk sentiment and stocks moves will direct the next move. Overall the USDJPY traded with a low of 95.68 and a high of 96.91 before closing the day around 95.90 in the New York session. The Sterling (GBP) was pushed under support at 1.6400 to find decent buying ahead of the key 1.6330 support level. EUR/GBP buying and GBP/JPY selling added to the pressure as did weak construction PMI at 44.5 vs. 46.1 forecast. Overall the GBP/USD traded with a low of 1.6321 and a high of 1.6503 before closing the day at 1.6360 in the New York session. Looking ahead, PMI services forecast at 52 vs. 51.7 previously. The Australian Dollar (AUD) broke through 0.8000 after the US jobs data and tested support at 0.7930. Heavy AUD/JPY selling was offset slight by AUD/NZD support but the risk averse currency will struggle if stocks continue to be sold. Weak Gold and Oil added to the bearish picture but a break of the 0.7800 – 0.8250 range is need to deliver more substantial selling. May’s Trade Balance shocked the market at -0.56B vs. -0.1Bn forecast. Overall the AUD/USD traded with a low of 0.7900 and a high of 0.8097 before closing the US session at 0.7940. Gold (XAU) fell from the $940 levels as USD strength outpaced safe haven demand for gold. Weaker commodities in general are hurting the outlook. Overall trading with a low of USD$926 and high of USD$941 before ending the New York session at USD$932 an ounce. Next Analysis:
Content Provided by:
Easy Forex
Easy-Forex™ Trading Platform, founded by a group of bankers, Forex and Internet experts, offers Forex traders direct access to the global currency markets. Easy-Forex™ revolutionary Online FX trading platform is the first online FX trading system allowing clients to deal Forex as a ...
Disclaimer:
The information and data entailed in this website or otherwise made accessible to you on this website are provided to Easy-Forex™ by a third party provider. Such information and/or data are made accessible for informative purposes only and they can under no circumstances be considered as a recommendation to you by Easy-Forex™ or any Easy-Forex™ personnel to engage in any trade. Hence, neither Easy-Forex™ nor any of its personnel can under any circumstances be held responsible for any outcome of trading decisions or trades in regard to any of such information and/or data. You hereby acknowledge that accessing and reviewing any of such information and/or data and/or using any of the information entailed in this website or otherwise made accessible to you on this website is your sole responsibility and at your own risk and you will have no claims with regards to any such information and/or data against Easy-Forex™ or any of its personnel. If you are unable to agree to this, you should not access and/or make use of any such information and/or data. Easy-Forex™ endorses responsible and moderate trading. Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone and we would like to recommend you not to risk any money, you cannot afford to lose. The transaction of such financial instruments known as Forex, fx, or currency, and dealt on a valued basis known as 'spot' or 'forward', 'day trading' and 'option', can contain a substantial degree of risk. Before deciding to undertake such transactions with Easy-Forex™, and indeed, any other firm offering similar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Trading foreign exchange may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user. Easy-Forex™ strongly recommends that a user, who is considering trading foreign exchange products, read through all the main topics contained in the Easy-Forex™ website so that he/she may obtain a clear and accurate understanding of the risks inherent to ‘forex’ trading. Opinions and analysis on potential expected market movements contained within the Easy-Forex™ website are not to be considered necessarily precise or timely, and due to the public nature of the Internet, Easy-Forex™ cannot at any time guarantee the accuracy of such information. Information provided on this website is intended solely for informational purposes and is obtained from sources believed to be reliable and accurate. Information is in no way guaranteed. Easy-Forex™ and the Easy-Forex™ logo are trademarks and/or registered trademarks of Easy-Forex™ in the United States and/or other countries.  Related Products  Price: $ 49.95 Overview Adaptation is the name of the game in long term trading success. Join Fernando Gonzalez ...
 Price: $ 49.95 Overview This course is more than simple rules, this class explores and shows you how to ...
|
|
||
 |
||
How often do you use the economic calendar? |
||
|
||
|
