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2013-12-31 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - Private Sector Credit]
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Australia November Private Sector Credit +0.3%
Overall private sector credit in Australia was up a seasonally adjusted 0.3 percent in November compared to the previous month, the Reserve Bank of Australia said on Tuesday.
EUR/USD steady in thin year-end trade
EUR/USD hit 1.3729 during late Asian trade, the session low; the pair subsequently consolidated at 1.3794, easing 0.04%.
The pair was likely to find support at 1.3729, Monday's low and resistance at 1.3894, the high of December 27 and a 26-month high.
The dollar remained supported amid expectations for further stimulus tapering by the Federal Reserve. The U.S. central bank will start reducing its bond-buying stimulus program by USD10 billion a month in January, amid indications of an improving U.S. economy.
The single currency had gained some ground on Friday, after European Central Bank Governing Council member Jens Weidmann said keeping interest rates low may endanger political reforms.
EUR/USD edges lower ahead of PMI data
EUR/USD hit 1.3741 during late Asian trade, the session low; the pair subsequently consolidated at 1.3748, edging down 0.07%.
The pair was likely to find support at 1.3693, the low of December 27 and resistance at 1.3813, the high of December 31.
The greenback remained supported after the Conference Board on Tuesday said that its index of U.S. consumer confidence improved to 78.1 in December from 72.0 in November. Analysts had expected the index to rise to 76.0 this month.
AUD/USD down in Asian trading hours
Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.36% to hit 1.5472 and AUD/JPY falling 0.28% to hit 93.67.
EURUSD Technical Analysis (adapted from dailyfx article)
'Dr. Doom' Makes Sunnier Prognosis For 2014
Nouriel Roubini, labeled "Dr. Doom" when he correctly predicted a housing collapse would lead to the market crash in 2007, is out this week with a relatively optimistic forecast for global economic growth in 2014.
"After a year of subpar 2.9 percent global growth, what does 2014 hold in store for the world economy?" Roubini writes in an opinion piece on the Project Syndicate website. "The good news is that economic performance will pick up modestly in both advanced economies and emerging markets."
Roubini, who recently told Bloomberg News that he prefers to be called "Dr. Realist" rather than "Dr. Doom," says headwinds to global economic growth are easing:
"The threat, for example, of a eurozone implosion, another government shutdown or debt-ceiling fight in the United States, a hard landing in China, or a war between Israel and Iran over nuclear proliferation, will be far more subdued."
Led by the U.S., Roubini predicts that advanced economies will grow at an annual pace near 1.9 percent, after growing only 1 percent in 2013.
The U.S., which saw its economic recover pick up in the fourth quarter, can expect to benefit from the shale-energy revolution, improvement in the labor and housing markets, and the "reshoring" of manufacturing.
Outside the U.S., growth will remain anemic in most advanced economies, particularly in the European Union, where fundamental problems like public debt and high unemployment remain unresolved.
Meanwhile, emerging economies will grow faster in 2014 thanks to strong exports and a robust Chinese economy. He sees 5 percent growth across emerging economies, beating the 4.8 percent below-trend growth seen last year.
2014-01-03 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Construction PMI]
if actual > forecast = good for currency (for GBP in our case)
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UK PMI - Construction better than expected 62.1
UK PMI - Construction released at 62.1 better than expected. The potential for this event to affect exchange rates is High. Market impact primarily affects GBP currency pairs although currency correlations may impact other currencies as well.
http://ebm.email.efinancialcareers.com/c/tag/hBSxpg3B7XGXtB83eVLNtM0lBz-/doc.html?t_params=EMAIL%3Drosiman74%2540gmail.com
Intraday Technical Analysis For EURUSD (based on this article)
EURUSD is moving down in third leg of decline, labeled as wave C/3 that should be made by five waves. We see current sideways price action as fourth wave so be aware of more downside as long as 1.3740 holds.
Passive vs. Active Investing (adapted from forexminute article)
With so many different instruments to wager with, what is a poor boy to do?
One solution to this question as the year begins with a bang in Gold is to specify whether you are a passive or active trader. The king of passive investing is John Bogle who created funds thatimitated the large stock indexes with the observation that the marketalways outperforms the majority of professionals. As a Forex and CFD trader, you can apply this approach by buying theSP500 & DAX with us when weakness occurs with very minimal money down.
Or take the principle that currencies don’t tend to display oversold/overbought conditions a couple times of year which can be considered the currency equivalent of an investment. To use this, simply use a Bollinger Band, RSI, Stochastic.