EURUSD Technical Analysis (adapted from dailyfx article)
EUR/USD in consolidation mode below key level
USDCAD Technical Analysis (adapted from dailyfx article)
USD/CAD nearing key resistance zone
Dollar Holds Steady against Counterparts as Markets Reopen
The dollar edged higher to its highest level in two weeks against its
peers, including the yen on Tuesday as the markets opened after the long
"The market is making its way back from holiday mode," Sue Trinh, a Hong
Kong-based currency strategist at RBC Capital Markets told Reuters.
The yen was weighed by Monday’s report that indicated that Japan export
orders declined, pressurizing the policymakers to consider rolling out
more economic stimulus.
The dollar index edged up to 79.957, after earlier reaching 79.988, its
strongest point since April 8. The dollar advanced 0.1 percent to 102.66
yen, after earlier touching to a high of 102.73 yen, a two-week high.
The euro, which briefly touched 141.84 yen yesterday, its strongest in
two weeks, was also up 0.1 percent to 141.63 yen.
The U.S. dollar also advanced against the New Zealand dollar, which hovered at a two-and-half week low of $0.8555 yesterday.
The Chinese yuan fell to its lowest level in 14 months against the
greenback at 6.2335 a dollar as the market remained nervous over China’s
economic slowdown and recent interventions by the authorities to
prevent the yuan from strengthening. The People’s Bank of China fixed a
lower border line of the range within which the yuan is permitted to
So far, the yuan has plunged about 2.84 percent versus the dollar since January this year.
The market is also waiting to hear a keynote speech by European
Central Bank’s President Mario Draghi in Amsterdam on Thursday. Draghi
has recently been quoted as saying that monetary easing will be rolled
out if the euro continues to strengthen against its peers, including the
Investors are also awaiting data on China’s manufacturing industry,
inflation figures in Australia and New Zealand’s interest rate review in
the next two days.
2014-04-22 14:00 GMT (or 16:00 MQ MT5 time) | [USD - Existing Home Sale]
if actual > forecast = good for currency (for USD in our case)
U.S. Existing Home Sales Drop To Lowest Level Since July 2012
Existing home sales in the U.S. showed a modest decrease in the
month of March, according to a report released by the National
Association of Realtors on Tuesday, although the annual rate of sales
still came in above economist estimates.
The report said existing
home sales edged down 0.2 percent to a seasonally adjusted annual rate
of 4.59 million in March from 4.60 million in February. Economists had
been expecting existing home sales to drop to an annual rate of 4.56
With the modest decrease, existing home sales fell for
the seventh time in eight months and hit their lowest level since July
NAR also said the rate of existing home sales is now 7.5 percent below the 4.96 million-unit pace in March of 2013.
modest monthly decrease came as increases in existing home sales in the
Northeast and Midwest were offset by declines in sales in the West and
Lawrence Yun, NAR chief economist, noted that current existing home sales activity is underperforming by historical standards.
really should be stronger levels of home sales given our population
growth," Yun said. "In contrast, price growth is rising faster than
historical norms because of inventory shortages."
showed that the median existing home price was $198,500 in March, up 5.4
percent from $188,300 in February and up 7.9 percent from $184,000 in
the same month a year ago.
noted that distressed homes accounted for 14 percent of March sales,
down from 16 percent in February and 21 percent in March of 2013.
"With rising home equity, we expect distressed homes to decline to a single-digit market share later this year," Yun said.
report also showed that there were 1.99 million existing homes
available for sale at the end of March compared to the 1.90 million
available for sale at the end of February.
The March housing inventory represents 5.2 month of supply at the current sales pace, up from 5.0 months in February.
Wednesday morning, the Commerce Department is scheduled to release a separate report on new home sales in the month of March.
expect new home sales to climb to an annual rate of 455,000 in March
after dropping to a rate of 440,000 in February.
2014-04-23 01:30 GMT (or 03:30 MQ MT5 time) | [AUD - CPI]
if actual > forecast = good for currency (for AUD in our case)
Australia CPI Rises 0.6% On Quarter In Q1
Consumer prices in Australia collected 0.6 percent on quarter in the
first quarter of 2014, the Australian Bureau of Statistics said on
That was weaker than forecasts for 0.8 percent, which would have been unchanged from the previous three months.
most significant price rises this quarter were for tobacco (+6.7
percent), automotive fuel (+4.1 percent), secondary education (+6.0
percent), tertiary education (+4.3 percent), medical and hospital
services (+1.9 percent) and pharmaceutical products (+6.1 percent).
rises were partially offset by falls in prices for furniture (-4.3
percent), maintenance and repair of motor vehicles (-3.3 percent),
international holiday travel and accommodation (-2.4 percent) and
domestic holiday travel and accommodation (-2.4 percent).
The tobacco price increase was caused by the federal excise tax rise that went into effect December 1.
Education prices have risen with the commencement of the new school year, the bureau said.
for medical and hospital services and pharmaceutical products were a
result of the cyclical reduction in the proportion of patients who
qualify for subsidies under the Medicare Benefits Scheme and
Pharmaceutical Benefits Scheme at the start of each calendar year.
a yearly basis, consumer prices gained 2.9 percent - also below
expectations for 3.2 percent after showing 2.6 percent in the three
2014-04-23 01:45 GMT (or 03:45 MQ MT5 time) | [CNY - HSBC Manufacturing PMI]
if actual > forecast = good for currency (for CNY in our case)
factory activity shrank for the fourth straight month in April,
signaling economic weakness into the second quarter, a preliminary
survey showed Wednesday. But the pace of decline eased, helped by policy
steps to arrest the slowdown.
Analysts see initial signs of stabilization in the economy due to the
government's targeted measures to underpin growth, but believe more
policy support may be needed as structural reforms put additional
pressures on activity.
The HSBC/Markit flash Purchasing
Managers Index for April rose to 48.3 from March's final reading of
48.0, still below the 50 line separating expansion from contraction.
"It's generally in line (with expectations), reflecting that the growth momentum is stabilizing," said Zhou Hao, China economist at ANZ in Shanghai, who expected economic growth to pick up slightly to 7.5 percent in the second quarter.
Trading the News: Reserve Bank of New Zealand Interest Rate Decision (based on dailyfx article)
According to a Bloomberg News survey, all of the 15 economists polled
anticipate the Reserve Bank of New Zealand (RBNZ) to deliver another
25bp rate hike in April, but the statement accompanying the rate
decision may have a greater impact on the NZD/USD as market participants
weigh the outlook for monetary policy.
Why Is This Event Important:
Indeed, fresh commentary from RBNZ Governor Graeme Wheeler may keep
the New Zealand dollar afloat as the board retains a hawkish tone for
monetary policy, and NZD/USD may continue to carve higher highs &
higher lows should the central bank continue to deliver a series of rate
hikes in 2014.The RBNZ may lay out a more detailed exit strategy amid the pickup in
global trade along with the ongoing improvement in the labor market, and
a further shift in the policy outlook should prop-up the
higher-yielding currency as the central bank moves away from its easing
cycle.However, the RBNZ may sounds less hawkish this time around as the
cooling housing market reduces the threat of an asset-bubble, and the
New Zealand dollar may face a larger decline in the days ahead should
the central bank soften its approach in normalizing monetary policy.
How To Trade This Event Risk
Bullish NZD Trade: RBNZ Pledges More Rate Hikes for 2014
March 2014 Reserve Bank of New Zealand Interest Rate Decision
NZDUSD M5 : 115 pips price movement by NZD - Interest Rate :
As expected, the RBNZ upped its official cash rate to 2.75% at the March
meeting from 2.50% previously. Although we saw chop at the print, the
NZD/USD rate went as high as 130 pips from the rate at the release. Once
again it is expected that we will see a 25bps hike in rates, although
weaker than expected CPI data for the month of March does pose a risk.
The RBNZ could choose to hold back on a rate hike and let such a failure
to raise rates weaken the Kiwi exchange rate. A surprise of more than
25bps in hikes could help the Kiwi regain strength lost over the past
Basicly this thread is not related to Cryptocurrencies. But as many traders are interesting in it (I see it from big popular thread in russian part of the forum) so it is most recent news related to it. Just one time only ... (other related Cryptocurrencies' news please post in your profile or in future blogs).
Just for information
Cryptocurrency Trading News: Bitcoin, Litecoin, Dogecoin Stumble; Mastercoin Crashes
Last 24 hours were though full of joyous moments, but the cryptocurrency
markets once again fell on a blink of speculations. This time, it is
the much-talked-about Safecoin presale whose uncertainties are seeming
to affect the entire cryptocurrency clan.
The sale guidelines released by MaidSafe said “the sale event will run
until ten percent of all Safecoin (429,496,729) are sold or 30 days have
passed, which ever happens first”. The company had promised to offer
attractive leverages on both Bitcoin and Mastercoin for Maidsafecoin,
but soon after the presale, the company dumped Mastercoin from the sale,
leaving its market value in havoc.
While Bitcoin was able to sustain its value throughout yesterday, owing
to US-based private equity firm NEA’s decision to invest a huge capital
in Bitcoin companies, its altcoins including Litecoin, Dogecoin and
others were not so fortunate. Here is how the market is looking for now:
The BTC/USD is on a downtrend since Monday, after reaching to its peak
at around $501.525. The pair gradually faced a series of pushes and
pullbacks in last 24 hours, meanwhile finding resistance at $494 and
support at $491. Right before entering today’s trading hours, the pair’s
value once though fell slightly below the $490 mark, but recovered in
the following hours.
At this time of writing, the BTC/USD pair is trading at around $490, falling 0.5% since 0000 UTC today.
Litecoin, Dogecoin also stumbles
Similar dips were seen in the altcoins as well. The LTC/USD once again
slipped 1.55%, reaching $12.05 in the last 24 hours after touching the
peak value of $12.35 yesterday. The downtrend is similar to the one of
Bitcoin, for obvious reasons.
The DOGE/USD meanwhile fell a little too much within last 24 hours. The
pair is currently trading around $0.00055, while at yesterday’s close it
was trading at $0.00058.
Mastercoin Falls Ominously
As MaidSafe withdrew Mastercoin from its Safecoin presale, the MSC/USD
fell massively around 50%, taking its value from the week’s peak $87 to
as low as $50. The scandalized crash was never even reported by MaidSafe
which further sent negative shivers throughout the cryptocurrency
Trading the News: U.S. Durable Goods Orders (based on dailyfx article)
Another 2.0% rise in orders for U.S. Durable Goods may generate a
bullish reaction in the dollar as it raises the outlook for growth and
Why Is This Event Important:
Data prints pointing to a stronger recovery may put increased pressure
on the Federal Open Market Committee (FOMC) to normalize policy sooner
rather than later, and we may see Fed Chair Janet Yellen soften her
dovish tone for monetary policy as a growing number of central bank turn
increasingly upbeat towards the economy.The expansion in private sector credit along with the ongoing
improvement in household sentiment may highlight increased demand for
large-ticket items, and a positive development may foster a bullish
outlook for the greenback as growth prospects improve.However, subdued wage growth paired with the persistent slack in the
real economy may continue to drag on private consumption, and a dismal
Durable Goods report may heighten the bearish sentiment surrounding the
greenback as it drags on interest rate expectations.
How To Trade This Event Risk
Bullish USD Trade: Orders Climb 2.0% or Greater
February 2014 U.S. Durable Goods Orders :
With volatility at lows not seen since just before the financial crisis
in the EUR/USD pair, it is no surprise that the last Durable Goods
orders figure did not move markets substantially. The release came in at
2.2%, above market expectations calling for a 0.8% increase. In the
context of yesterday’s disappointing housing print, we may see greater
follow through if we do see the print diverge from market expectations
of 2.0% for March.
EURUSD Tec hnical Analysis (based on dailyfx article)
The EUR/USD fell briefly below 1.3800 following mixed US data but quickly bounced to trade nearly flat on the day.The
EUR/USD fell to a low of 1.3790 but found support and managed to regain
the 1.3800 mark. At time of writing, the EUR/USD is trading at 1.3815,
little changed since opening. From a wider perspective however, the
EUR/USD continues to trade within this week's range lacking
follow-through either side of the board. In the macroeconomic domain, US
durable goods orders came in above expectations while Draghi sounded
quite dovish earlier today. EUR/USD levels to watchIn
terms of technical levels, next supports are seen at 1.3790 (Apr 24
low), 1.3736 (Apr 8 low) and 1.3700 (psychological level). On the flip
side, resistances are seen at 1.3842 (Apr 24 high), 1.3854 (Apr 23
high), 1.3864 (Apr 17 high) and 1.3880 (Apr 11 closing price).