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Forum on trading, automated trading systems and testing trading strategies
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newdigital, 2014.04.15 17:09
2014-04-15 14:00 GMT (or 16:00 MQ MT5 time) | [USD - NAHB Housing Market Index news event ]
if actual > forecast = good for currency (for USD in our case)
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U.S. Homebuilder Confidence Improves Less Than Expected In April
Homebuilder confidence in the U.S. has seen a modest improvement in the month of April, according to a report released by the National Association of Home Builders on Tuesday.
The report showed that the NAHB/Wells Fargo Housing Market Index edged up to 47 in April from a downwardly revised 46 in March.
However, economists had been expecting the index to climb to a reading of 49 from the 47 originally reported for the previous month.
The modest uptick by the index reflected a notable increase by the component measuring expectations for future sales, which jumped to 57 in April from 53 in March.
Meanwhile, the component gauging current sales conditions and the component gauging traffic of prospective buyers were both unchanged from the previous month at 51 and 32, respectively.
"Builder confidence has been in a holding pattern the past three months," said NAHB Chairman Kevin Kelly. "Looking ahead, as the spring home buying season gets into full swing and demand increases, builders are expecting sales prospects to improve in the months ahead."
The NAHB said the housing market index three-month moving averages were down in all four regions of the country.
The West fell nine points to 51 and the Midwest dropped four points to 49, while the Northeast and South both dropped two points to 33 and 47, respectively.
Wednesday morning, the Commerce Department is scheduled to release a separate report on new residential construction in the month of March.
Economists expect housing starts to climb to an annual rate of 973,000 in March from 907,000 in February, while building permits are expected to dip to 1.008 million from 1.018 million.
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EURUSD, M5, 2014.04.15
MetaQuotes Software Corp., MetaTrader 5, Demo
EURUSD M5 : 30 pips price movement by USD - NAHB Housing Market Index news event
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newdigital, 2014.04.15 19:48
EUR/USD rejected by minor retracement
EUR/USD Strategy: Like being square for a few days.
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newdigital, 2014.04.16 11:49
EUR/USD falls to support near 200-period moving average
EUR/USD moved slightly lower but met support near the 200-period moving average, and the 50% retracement level of the 4th-11th Apr. advance.
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newdigital, 2014.04.16 15:46
2014-04-16 13:15 GMT (or 15:15 MQ MT5 time) | [USD - Industrial Production]
if actual > forecast = good for currency (for USD in our case)
==========
U.S. Industrial Production Climbs More Than Expected In March
Industrial production in the U.S. rose by more than expected in the month of March, the Federal Reserve revealed in a report on Wednesday, with the report also showing a notable upward revision to the pace of production growth in the previous month.
The Fed said industrial production increased by 0.7 percent in March after surging up by an upwardly revised 1.2 percent in February.
Economists had been expecting production to rise by about 0.5 percent compared to the 0.6 percent increase originally reported for the previous month.
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EURUSD, M5, 2014.04.16
MetaQuotes Software Corp., MetaTrader 5, Demo
EURUSD M5 : 17 pips price movement by USD - Industrial Production news event
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newdigital, 2014.04.16 22:00
2014-04-16 16:15 GMT (or 18:15 MQ MT5 time) | [USD - Fed Chair Yellen Speech] :
EUR/USD gains on Yellen comments, mixed U.S. data
The euro rose against the dollar on Wednesday after Federal Reserve Chair Janet Yellen said interest rates will remain low for a considerable time, while a mixed bag of U.S. indicators also softened the greenback against the single currency.
In U.S. trading, EUR/USD was up 0.10% at 1.3829, up from a session low of 1.3804 and off a high of 1.3851.
The pair was likely to find support at 1.3791, Tuesday's low, and resistance at 1.3905, Friday's high.
The Federal Reserve will keep benchmark interest rates low even as the economy improves to ensure sustained recovery, Yellen said earlier.
Monetary authorities hope to see the unemployment rate at the end of 2016 reaching 5.2-5.6% and inflation at 1.7-2%, Yellen said.
"If this forecast was to become reality, the economy would be approaching what my colleagues and I view as maximum employment and price stability for the first time in nearly a decade. I find this baseline outlook quite plausible," Yellen said in prepared remarks in a speech she delivered at the Economic Club of New York.
In the meantime, markets should pay close attention to inflation and unemployment rates, as hiccups can serve as weather vanes when it comes to monetary policy and how long interest rates remain low.
"The larger the shortfall of employment or inflation from their respective objectives, and the slower the projected progress toward those objectives, the longer the current target range for the federal funds rate is likely to be maintained," Yellen said.
Elsewhere, U.S. industrial production rose 0.7% in March from February, beating expectations for a 0.5% reading, which supported the dollar earlier, though soft U.S. housing data watered down the greenback.
The Commerce Department reported earlier that housing starts rose 2.8% in March to 946,000, missing analyst forecasts for a 6.4% increase to 973,000 units.
Separately, building permits, an indicator of future demand for housing, fell 2.4% in March to 990,000, defying market expectations for a 0.6% increase.
Meanwhile in the euro zone, data revealed that the annual inflation rate slowed to 0.5% in March from 0.7% the previous month, but in line with expectations
Core inflation, which strips out volatile items like food and energy costs, fell to 0.7% from 1.0% in February, missing expectations for a 0.8% reading.
Euro zone inflation has now been in the European Central Bank's danger zone of below 1% for six straight months, fuelling speculation that policymakers will need to implement fresh stimulus measures to shore up the fragile recovery in the euro area.
The euro was down against the pound, with EUR/GBP down 0.33% to 0.8231, and up against the yen, with EUR/JPY up 0.45% at 141.41.
On Thursday, the U.S. is to publish data on initial jobless claims and a report on manufacturing activity in the Philadelphia region.
The euro zone is to publish data on the current account, while Germany is to produce data on producer price inflation.
hi newdigital
hi newdigital
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Something Interesting in Financial Video April 2014
newdigital, 2014.04.17 09:18
EURUSD and GBPUSD Trade Setups May Need to Wait
Short-term ranges are more appropriate trade opportunities than major breakouts and trend development into the end of the week. Past the half-way point of the week, we have seen the risk aversion momentum from last week stall, most of the major event risk go by and Friday's market holiday liquidity drain move another day closer. Short-term setups with clear technical levels tend to outperform in these circumstances. As for the growing medium-term opportunities in pairs like EURUSD and GBPUSD, we need to prepare for the tech/fundamentals/market conditions stars to align. We discuss both immediate options and bigger setups a little further out in today's Trading Video.
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newdigital, 2014.04.18 10:45
Trading Video: Liquidity Delays EURUSD, GBPJPY, Yen Setups
Great trading opportunity lies ahead, but expectations must be reasonable for when and where we can act. The final trading day of this week will be drained of liquidity due to the observation of a market holiday for many regions, and the subsequent conditions curb the necessary developments we need to instigate the seismic shift that we are inevitably heading towards. In today's trading video, we discuss why short-term trade setups are ill-advised but why medium-term setups for the likes of EURUSD, GBPUSD and others offer considerable opportunity.