Eur/usd - page 555
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EUR/USD rallied towards 1.1260 inthe Asian session, but bulls felt exhaustion and retreated to currently trade around 1.1250.
On yesterday session, the EURUSD rose with a wide range and closed near the high of the day, in addition the currency pair managed to close above Tuesday’s high, which suggests a strong bullish momentum.
The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a Fibonacci extension at 1.1291, a daily resistance at 1.1237, the 10-day moving average at 1.1197 (support), a daily support at 1.1097, previous wing high at 1.1021 (support) and a key level at 1.0970 (support).
The EUR/USD was flat lined in the early trading hours, around 1.1215. Awaiting NFP release to set more clear direction.
On yesterday session, the EURUSD fell with a narrow range and closed near the low of the day, however managed to close within Wednesday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a Fibonacci extension at 1.1291, a daily resistance at 1.1237, the 10-day moving average at 1.1199 (support), a daily support at 1.1097, previous wing high at 1.1021 (support) and a key level at 1.0970 (support).
On the last Friday’s session the EURUSD rallied with a wide range and closed near the high of the day, in addition the currency pair managed to close above Thursday’s high, which suggests a strong bullish momentum.
The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a Fibonacci extension at 1.1291, a daily support at 1.1237, the 10-day moving average at 1.1203 (support), a daily support at 1.1097, previous wing high at 1.1021 (support) and a key level at 1.0970 (support).
The EUR/USD pair is holding neutral to bullish stance. A break above the important 1.13 level will confirm a new leg to above.
On yesterday session, the EURUSD fell with a narrow range and found some buying pressure near 1.1237 a daily support to trim some of its losses and in the middle of the daily range, plus the currency pair closed within Friday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a Fibonacci extension at 1.1291, a daily support at 1.1237, the 10-day moving average at 1.1217 (support), a daily support at 1.1097, previous wing high at 1.1021 (support) and a key level at 1.0970 (support).
Markets 101: What economic data moves markets the most?
Business & Finance
August 4, 2009
By: Jennifer Shotts
Several government agencies track these important data releases each month that give market participants a clue as to the economic health of the country. Some data points will be more heavily weighted depending on the state of the economy at the time of its release, and may create more market volatility if the expectations of the release are not met. Here are the top market moving data releases:
1. Non Farm Payrolls. Released every first Friday of the month by the Bureau of Labor Statistics, the Non-Farm Payrolls release includes the change in number of employed people during the previous month excluding the farming industry, the unemployment rate, and the average of hourly earnings. This lagging indicator is highly regarded as an important signal for overall economic health since consumer spending is highly correlated with labor conditions.
2. GDP. Gross domestic product is the broadest measure of economic activity and the primary gauge of a nation's economic health. It measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. GDP is reported in three ways: advance, preliminary, and final. Since the Advance GDP is released first, it tends to have the most impact on the markets. It is released by the Bureau of Economic Analysis.
3. Fed funds rate/FOMC statement. Released by the Federal Reserve eight times per year, it is the interest rate at which banks lend balances held at the Fed Reserve to other banks overnight, and the paramount factor in currency valuation. Often the rate decision is priced into the market so it tends to be overshadowed by the accompanying FOMC statement which focuses on the future.
4. Retail sales. This is the broadest and earliest look at vital consumer spending data, which accounts for a majority of overall economic activity. The Census Bureau releases this monthly.
5. CPI/PPI. Consumer price index and the producer price index are considered leading indicators of consumer inflation. Both are released by the Department of Labor.
6. ISM non manufacturing/ISM manufacturing. These indexes are leading indicators of the health of the economy too, measuring a survey of 400 businesses each month, a value above 50 indicates industry expansion, below 50 indicates contraction. Released by the Institute for Supply Management.
7. Pending home sales/new home sales/existing home sales. The National Association of Realtors release the data about the U.S. housing market each month. Both new homes sales and existing homes sales can be leading indicators about economic health because a sale triggers a wide-reaching ripple effect.
8. Trade Balance. The Bureau of Economic Analysis releases this data, the difference in value between exported goods and imported goods. A positive number indicates that more goods and services were exported than imported.
9. Long term purchases (TIC). This data released by the Department of the Treasury each month represents the balance of domestic and foreign investment. Demand for domestic securities and currency demand are directly linked because foreigners must buy the domestic currency to purchase the nation's securities, thus it can be a market mover in the US dollar, for example.
Euro and GBP interest rate decisions are missing off the list and should possibly be in at around No4
Thanks for this comment. It helpfull for me.