Press review - page 68

Sergey Golubev
Moderator
113440
Sergey Golubev  

2014-01-06 09:28 GMT (or 10:28 MQ MT5 time) | [GBP - Services PMI]

if actual > forecast = good for currency (for GBP in our case)

==========

U.K. Service Sector Growth At 6-Month Low; Bright Outlook For 2014

U.K.'s service sector growth unexpectedly eased in December to the lowest level in six months amid weaker increase in new orders, but the rate of expansion remained robust, suggesting that economic growth has likely accelerated in the fourth quarter.

Nevertheless, optimism among service providers regarding activity over the next 12 months climbed in December to the highest level in nearly four years.

Results of the latest purchasing managers' survey conducted by Markit Economics and the Chartered Institute of Purchasing and Supply (CIPS) showed that the activity indicator for the service sector dropped to 58.8 in December from 60 in November, marking the weakest improvement in operating conditions since June.

Sergey Golubev
Moderator
113440
Sergey Golubev  

2014-01-06 15:00 GMT (or 16:00 MQ MT5 time) | [USD - ISM Non-Manufacturing PMI]

if actual > forecast = good for currency (for USD in our case)

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U.S. Service Sector Unexpectedly Expands At Slower Rate In December

Activity in the U.S. service sector unexpectedly grew at a slower rate in the month of December, according to a report released by the Institute for Supply Management on Monday.

The ISM said its non-manufacturing index edged down to 53.0 in December from 53.9 in November, although a reading above 50 still indicates growth in the service sector. With the drop, the index fell to its lowest level since hitting 52.8 in June.

Sergey Golubev
Moderator
113440
Sergey Golubev  
What is the Pip Cost for Gold and Silver?


  1. Gold: Symbol XAU/USD
    The pip cost for 1 ounce of Gold (minimum trade size) is $0.01 per pip.
  2. Silver: Symbol XAG/USD
    The pip cost for 50 ounces of Silver (minimum trade size) is $0.50 per pip
Gold and Silver vs. Forex Trading
Gold and Silver vs. Forex Trading
  • FXCM Micro Support
  • www.dailyfx.com
What is the Pip Cost for Gold and Silver? Gold: Symbol XAU/USD The pip cost for 1 ounce of Gold (minimum trade size) is $0.01 per pip. Silver: Symbol XAG/USD The pip cost for 50 ounces of Silver (minimum trade size) is $0.50 per pip...
Sergey Golubev
Moderator
113440
Sergey Golubev  

Yellow Currency This Year

Despite gold biting the dust last year, some analysts are the most bullish in a year on speculation that investors are reducing near-record bearish bets after the biggest plunge in prices since 1981. It is to be noted that gold suffered one of the worst performances in 2013 and fell to the levels that was seen only three decades ago.

According to a survey investors and some analysts are willing to take risk as they believe that gold will rise this week despite the fact that gold retreated for the first time in 13 years in 2013. This is happening as an improving economy spurring speculation the Federal Reserve would curb stimulus.

China is one of the largest consumers of gold and according to analysts purchases may rise before China’s Lunar New Year festival on Jan. 31. India which is the largest importer of gold could not import it more as the government imposed heavy duty on the imports, as it was causing huge drainage on the Forex reserves.

The poor demand from India was though compensated by Chinese demand for the yellow metal; it was not enough to boost the prices. However, this year, some analysts believe that Chinese demand will help boost prices to a great extent.

Gold Analysts and Investors Bullish About the Yellow Currency This Year - Forex Minute - Financial News | Stock Market | Trading Commodities | Binary Options Updates - Forex Minute Portal
Gold Analysts and Investors Bullish About the Yellow Currency This Year - Forex Minute - Financial News | Stock Market | Trading Commodities | Binary Options Updates - Forex Minute Portal
  • View all of Jonathan Millet's Articles »
  • www.forexminute.com
Despite gold biting the dust last year, some analysts are the most bullish in a year on speculation that investors are reducing near-record bearish bets after the biggest plunge in prices since 1981. It is to be noted that gold suffered one of the worst performances in 2013 and fell to the levels that was seen only three decades ago. According...
Sergey Golubev
Moderator
113440
Sergey Golubev  

AUDUSD Technical Analysis (based on dailyfx article)



  • Prices are starting to rise as expected after showing a Morning Star candle pattern
  • Resistance is at 0.9041 (23.6% Fib); above that targets 0.9178 (38.2% Fib)
  • Near-term support is at 0.8920, marked by trend line resistance-turned-support
Sergey Golubev
Moderator
113440
Sergey Golubev  

2014-01-07 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - Trade Balance]

  • past data is -0.36B
  • forecast data is -0.30B
  • actual data is -0.12B according to the latest press release

if actual > forecast = good for currency (for AUD in our case)

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Australia's Trade Deficit Narrows As Imports Fall

Australia's external trade in goods and services resulted in a smaller-than-expected deficit in November amid a decline in imports, a report from the Australian Bureau of Statistics revealed Tuesday.

The country's trade in goods and services showed a deficit of A$118 million in November, less than a revised A$358 million deficit in October and A$300 million shortfall expected. The deficit has now fallen for four consecutive months.

The value of imports dropped 1 percent month-on-month in seasonally adjusted terms to A$27.49 billion in November. Exports remained almost steady at A$27.38 billion.

The currency backdrop has been a clear tailwind to export revenues in the second half of 2013 relative to the first half, with exchange rate having fallen close to 15 percent between April and November, Ben Jarman, an economist with J.P. Morgan Australia, said.

Sergey Golubev
Moderator
113440
Sergey Golubev  

Dollar, Equities Little Moved by Yellen Nomination for Fed Chair (adapted from dailyfx article)

he US Senate confirmed Janet Yellen’s nomination to lead the Federal Reserve when Chairman Bernanke’s term ends on January 31…but should that comfort over-exposed investors? Even those that are skeptical of the direct relationship between loose monetary policy and the robust optimism in US and global capital markets these past years cannot discount that the external support has buoyed risk trades to some degree. What happens when the recognition of that backstop’s limitations becomes the consensus? We may soon find out.

The more dramatic possibility from this change in tack is a cascading deleverage of low-yield-but-high-cost risk positions – distinctly dollar bullish. Yet, that would be a systemic change in the market’s belief system and thereby more difficult to reverse. That being said, the greenback’s safe haven appeal isn’t the only means of taking advantage. US Treasury yields and forwards rates are rising. The dollar’s ‘return’ appeal is rising at the same time the ECB and BoE outlook is growing cloudy.

  1. The first drop for the Nikkei 225 in 10 active trading days – also the biggest decline since October 25 – strong armed a uniform drop from the yen crosses Monday.
  2. Europe’s economic docket was light through the opening 24 hours of the trading week, but it grows materially more incendiary in the coming session. Monday’s calendar offered a near-three year high in Eurozone investor sentiment and update to service sector activity measures.
  3. UK data is starting to falter. For the British pound – riding high on booming interest expectations – this is a concern.
  4. New Zealand Dollar. Carry demand is not as easy to measure as some suppose. A rising yield can draw capital only so long as the acceptance of its commensurate risk keeps pace. Point in case is the New Zealand dollar. The 12-month rate forecast for the RBNZ (according to overnight swaps) is at a three-year high 126 bps. That said, the New Zealand dollar has yet to clear a rally versus the US dollar, Euro and pound
  5. The Canadian dollar was the worst performer of the majors to open the week. Despite that performance, the docket was relatively clear. Policy officials were there to talk the currency down though.
  6. US oil prices dropped for a fifth consecutive trading session. In the past 18 months, there have been four other bear waves of equal consistency; but no larger moves since May 2012.
  7. Gold traders felt a shiver of panic Monday. At 15:13 GMT, the precious metal 2.6 percent in less than a minute. CME circuit breakers kicked in to help prevent a panic selloff, but the exchange verified all the trades would stand – meaning this was no technical error. This may turn into one of those ‘flash crash’ rumor-based stories; but it is unlikely to carry forward much lasting influence on the metal.
Forex: Dollar, Equities Little Moved by Yellen Nomination for Fed Chair
Forex: Dollar, Equities Little Moved by Yellen Nomination for Fed Chair
  • John Kicklighter
  • www.dailyfx.com
when Chairman Bernanke’s term ends on January 31…but should that comfort over-exposed investors? Even those that are skeptical of the direct relationship between loose monetary policy and the robust optimism in US and global capital markets these past years cannot discount that the external support has buoyed risk trades to some degree. What...
Ronnie Mansolillo
6217
Ronnie Mansolillo  
Bitcoin bounces back in China to top $1,000 - FT.com
Bitcoin bounces back in China to top $1,000 - FT.com
  • www.ft.com
Bitcoin has bounced back in China, helping to push the virtual currency back above $1,000 a unit, as exchanges devise workaround solutions to the regulatory crackdown last month. When Chinese regulators banned financial institutions from doing
Sergey Golubev
Moderator
113440
Sergey Golubev  

EUR/USD dips after upbeat U.S. trade data

But the euro struggled to build on gains after data on Tuesday showed that the annual rate of inflation in the euro zone slowed to 0.8% in December from 0.9% the previous month, fuelling fresh concerns over the threat of deflation in the currency bloc.

Elsewhere, data showed that the number of people out of work in Germany fell by 15,000 in December to 2.96 million, better than expectations for a decline of 1,000.

The country’s unemployment rate remained steady at 6.9%.

A separate report showed that German retail sales rose 1.5% in November, more than double expectations for an increase of 0.6%.

Forex - EUR/USD dips after upbeat U.S. trade data
Forex - EUR/USD dips after upbeat U.S. trade data
  • Investing.com
  • www.investing.com
Investing.com - The euro edged lower against the dollar on Tuesday after data showed that the U.S. trade deficit shrank to the lowest level in four years in November. EUR/USD pulled away from session highs of 1.3656, and was last down 0.06% to 1.3620. The pair was likely to find support at 1.3580, Friday’s low and an almost four week low and...
Sergey Golubev
Moderator
113440
Sergey Golubev  

AUDUSD Waiting For Bearish Confirmation


AUDUSD has turned south during Asian session despite better than expected Trade Balance numbers; -0.12B vs -0.30B. But notice that number is negative which means that more goods were important than exported, so demand for AUD was not high which is reason for lower reaction on AUDUSD.

From a technical perspective we expect weaker AUD against the buck, but price is still above that 0.8882 key level that needs to be broken for a bearish case. If we get a daily close beneath that swing that we may look for possible shorts in this week.


AUDUSD Waiting For Bearish Confirmation - Action Forex
  • www.actionforex.com
AUDUSD Waiting For Bearish Confirmation AUDUSD has turned south during Asian session despite better than expected Trade Balance numbers; -0.12B vs -0.30B. But notice that number is negative which means that more goods were important than exported, so demand for AUD was not high which is reason for lower reaction on AUDUSD.Forex, Forex Portal, Forex Trading. Forex Trading Recommendation, Forecast, Trading Signal, Forex Training Course, Education, Tutorial, FX Book, Forex ebooks, Learn to Trade Forex, FX Guide, Currency Rates, Forex Secret, Forex Brokers, Currency Trading System, FX Chart, Free Forex Demo, FX Directory, Forex Tutorial, Currency Report, FX Newsletter, Pivot Points, Forex Portal, RSS EUR/USD GBP/USD USD/CHF USD/JPY