Press review - page 80

Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-01-27 15:00 GMT (or 16:00 MQ MT5 time) | [ USD - New Home Sales]

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

==========

U.S. New Home Sales Fall Much More Than Expected In December

New home sales in the U.S. fell by much more than anticipated in the month of December, according to a report released by the Commerce Department on Monday, with sales pulling back further off the five-year high set in October.

The report said new home sales tumbled 7.0 percent to an annual rate of 414,000 in December from the revised November rate of 445,000. Economists had expected sales to dip to 455,000 from the 464,000 originally reported for the previous month.

Sergey Golubev
Moderator
113440
Sergey Golubev  

Gold futures pare loss as U.S. equities fall (source - marketwatch.com article)

Prices off lows as U.S. equities trade mostly lower; silver clings to a gain

Traders awaited an upcoming two-day meeting of the Federal Open Market Committee that begins on Tuesday and are looking ahead to the week’s U.S. economic data calendar, which includes durable goods orders and consumer confidence on Tuesday and manufacturing and consumer-sentiment figures on Friday.

Gold for February delivery GCG4 -0.06% fell 30 cents to $1,264 an ounce on the Comex division of the New York Mercantile Exchange after earlier touching lows under $1,260. Last week, prices scored a 1% climb and ended Friday at their highest level since Nov. 19. Over the past five weeks, gold has managed to tack on 5%.

March silver SIH4 +0.30%  hung onto gains, rising 8.5 cents, or 0.4%, to $19.85 an ounce, rebounding from a 2.7% loss last week.

“Gold has seen a substantial rally in recent sessions, breaking through several technical resistance levels, but we expect that the precious metals market will largely tread water until the [Federal Open Market Committee] announcement Wednesday,” said Tyler Richey, an analyst for the 7:00’s Report, which offers daily markets commentary. “That is unless we see emerging-market turmoil in the next 48 hours, which would obviously be bullish for gold.”

Gold futures pare loss as U.S. equities fall Metals Stocks
Gold futures pare loss as U.S. equities fall Metals Stocks
  • www.marketwatch.com
SAN FRANCISCO (MarketWatch) — Gold futures on Monday pared earlier losses as a decidedly lower turn in U.S. equities provided some support for the precious metal. Traders awaited an upcoming two-day meeting of the Federal Open Market Committee that begins on Tuesday and are looking ahead to the week’s U.S. economic data calendar, which...
Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-01-28 00:30 GMT (or 01:30 MQ MT5 time) | [ AUD - NAB Business Confidence]

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

==========

Australia Business Conditions Index Climbs To 4 - NAB

An index measuring business conditions in Australia came in with a score of 4 in December, the latest survey from NAB revealed on Tuesday - touching a two-and-a-half-year high.

The December reading was up sharply from -3 in November,

The index for business confidence came in at 6, which was unchanged from the previous month following an upward revision from 5.

Sergey Golubev
Moderator
113440
Sergey Golubev  

Beijing Loses Grip of the Chinese Financial Market 




The gloomy mood in China's industry dropped at end of the week for the international stock exchanges. With the Communist government seeking to streamline and deregulate the financial sector foreclosure, Beijing is gradually losing the chain of the Chinese Market.

With growing concern for companies and business leaders with regards to the second largest economy in the world, due to the decreasing tension of the economic engine, China is looking forward to the next stage of its strategic reform program. Thus, Beijing is hoping to open the hitherto of the relatively foreclosed Chinese financial sector and internationalize its currency.

Sergey Golubev
Moderator
113440
Sergey Golubev  
Trading the News: U.K. Gross Domestic Product (based on dailyfx article)

The U.K. economy is expected to grow another 0.7% in the fourth-quarter, and a marked pickup in 4Q GDP may spark fresh highs in the British Pound as it puts increased pressure on the Bank of England (BoE) to normalize monetary policy ahead of schedule.

What’s Expected:


Time of release: 01/28/2014 9:30 GMT, 4:30 EST
Primary Pair Impact: GBPUSD
Expected: 0.7%
Previous: 0.8%

Forecast: 0.7% to 1.0%

How To Trade This Event Risk

Bullish GBP Trade: 4Q GDP Climbs 0.7% or Greater

  • Need green, five-minute candle following the GDP print to consider a long British Pound trade
  • If reaction favors a buy trade, long GBPUSD with two separate position
  • Set stop at the near-by swing low/reasonable distance from entry; look for at least 1:1 risk-to-reward
  • Move stop to entry on remaining position once initial target is hit, set reasonable limit
Bearish GBP Trade: U.K. Growth Rate Misses Market Forecast
  • Need red, five-minute candle to favor a short GBPUSD trade
  • Implement same setup as the bullish British Pound trade, just in the opposite direction

Potential Price Targets For The Release


  • Remains Bullish Above 1.6300 (Higher Low); Searching for Higher High
  • Price & Relative Strength Index Retain Bullish Trend From July
  • Interim Resistance: 1.6700 Pivot to 1.6730 (100.0 expansion)
  • Interim Support: 1.6300 Pivot to 1.6310 (50.0 expansion)

3Q A 2013 U.K. Gross Domestic Product :


Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-01-28 13:30 GMT (or 14:30 MQ MT5 time) | [USD - Durable Goods Orders]

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

==========

U.S. Durable Goods Orders Show Unexpected Decrease In December

With orders for transportation equipment showing a substantial decrease, the Commerce Department released a report on Tuesday showing that new orders for U.S. manufactured durable goods unexpectedly dropped in the month of December.

The report said durable goods orders tumbled by 4.3 percent in December following a revised 2.6 percent increase in November.

Sergey Golubev
Moderator
113440
Sergey Golubev  
Where are the Stops? Tuesday, January 28: Gold and Silver (based on kitco.com artricle)


April GoldBuy StopsSell Stops

$1,261.20 $1,251.90

$1,267.50 $1,247.70

$1,279.80 $1,240.00

$1,295.00 $1,230.80

  
March Silver Buy Stops Sell Stops

$19.84    $19.55   

$20.09    $19.31   

$20.31    $19.00   

$20.50    $18.72   
Where are the Stops? Tuesday, January 28: Gold and Silver | Kitco Commentary
Where are the Stops? Tuesday, January 28: Gold and Silver | Kitco Commentary
  • www.kitco.com
Editor's Note: Professional traders have a very good idea of price levels at which buy and sell stop orders are located on a daily basis. And now you will, too! If pre-placed buy or sell stop order are triggered, bigger price moves can immediately follow. Most stop orders are located and placed based upon key technical support or resistance...
Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-01-28 15:00 GMT (or 16:00 MQ MT5 time) | [USD - Consumer Confidence]

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

==========

U.S. Consumer Confidence Continues To Improve In January

Consumer confidence in the U.S. improved for the second consecutive month in January, according to a report released by the Conference Board on Tuesday, with the consumer confidence index rising by more than expected during the month.

The Conference Board said its consumer confidence index climbed to 80.7 in January from a downwardly revised 77.5 in December.

Economists had expected the consumer confidence index to edge up to 79.0 from the 78.1 originally reported for the previous month.

The report showed that the present situation index rose to 79.1 in January from 75.3 in December, reflecting a continued improvement in consumers' assessment of overall present-day conditions.

Sergey Golubev
Moderator
113440
Sergey Golubev  
Trading the News: Federal Open Market Committee Meeting (based on dailyfx.com article)

The Federal Open Market Committee (FOMC) is widely expected to reduce its asset-purchase by another $10B as the benefits of quantitative easing now outweighs the costs, and the policy outlook may prop up the dollar in February as the central bank moves away from its easing cycle.

What’s Expected:

Time of release: 01/29/2014 19:00 GMT, 14:00 EST
Primary Pair Impact: EURUSD
Expected: $65B
Previous: $75B
Forecast: $65B

Why Is This Event Important:

However, we may see a growing number of Fed officials favor a less-aggressive approach in normalizing monetary policy amid the spillover-effects to the global economy, and a material shift in central bank rhetoric may undermine the bullish sentiment surrounding the dollar if the FOMC implements a dovish twist to its forward-guidance.

How To Trade This Event Risk

Bullish USD Trade: FOMC Delivers Another $10B Taper & Pledges to Stay on Course

  • Need red, five-minute candle following the print to consider a short EURUSD trade
  • If market reaction favors a long dollar trade, short EURUSD with two separate position
  • Place stop at the near-by swing high/reasonable distance from entry; look for at least 1:1 risk-to-reward
  • Move stop to entry on remaining position once initial target is hit, set reasonable limit
Bearish USD Trade: Fed Keeps QE at $75B; Sees Further Delay in Exit Strategy
  • Need green, five-minute candle to favor a long EURUSD trade
  • Implement same setup as the bullish dollar trade, just in opposite direction

==================

  • Downward Trend Taking Shape Amid Failure to Close Above 1.3800
  • Bearish Divergence in Relative Strength Index Favors Downside Targets
  • Interim Resistance: 1.3800 (100.0 expansion) to 1.3830 (61.8 retracement)
  • Interim Support: 1.3490 (50.0% retracement) to 1.3530 (61.8% expansion)
Forex: Bearish Euro & JPY Setup in Focus Ahead of FOMC Meeting
Forex: Bearish Euro & JPY Setup in Focus Ahead of FOMC Meeting
  • David Song
  • www.dailyfx.com
The Federal Open Market Committee (FOMC) is widely expected to reduce its asset-purchase by another $10B as the benefits of quantitative easing now outweighs the costs, and the policy outlook may prop up the dollar in February as the central bank moves away from its easing cycle. However, we may see a growing number of Fed officials favor a...
Sergey Golubev
Moderator
113440
Sergey Golubev  
Trading the News: Reserve Bank of New Zealand Interest Rate Decision (adapted from this article)

The Reserve Bank of New Zealand (RBNZ) is widely expected to keep the benchmark interest rate at 2.50%, but the policy statement may highlight a bullish outlook for the NZDUSD as the central bank is widely expected to normalize monetary policy this year.

What’s Expected:

Time of release: 01/29/2014 20:00 GMT, 15:00 EST
Primary Pair Impact: NZDUSD
Expected: 2.50%
Previous: 2.50%
Forecast: 2.50%

Why Is This Event Important:


Indeed, RBNZ Governor Graeme Wheeler may unveil a more detailed exit strategy this time around amid the growing threat of an asset-bubble, and bets for an imminent rate hike may spur fresh highs in the New Zealand dollar as market participants weigh the prospects for future policy.

How To Trade This Event Risk

Bullish NZD Trade: RBNZ Offers More Detailed Exit Strategy
  • Need green, five-minute candle following a hawkish statement to consider a long NZDUSD trade
  • If market reaction favors a long trade, buy NZDUSD with two separate position
  • Set stop at the near-by swing low/reasonable distance from cost; look for at least 1:1 risk-to-reward
  • Move stop to entry on remaining position once initial target is met, set reasonable limit
Bearish NZD Trade: Wheeler Scales Back Hawkish Tone & Strengthens Verbal Intervention
  • Need red, five-minute candle to favor a short NZDUSD trade
  • Implement same strategy as the bullish New Zealand dollar trade, just in opposite direction