World / E-commerce
USD/CHF Mid-Day Outlook
10.07.2008 11:19
actionforex.com
USD/CHF weakens sharply today but after all it's still staying above mentioned 1.0217 minor support, outlook is unchanged. While further rise cannot be ruled out, upside of the rebound from 1.0111 is still expected to be limited by mentioned 61.8% of 1.0539 to 1.0111 at 1.0376. Meanwhile, on the downside,...
World
E-commerce
GBP/USD Mid-Day Outlook
10.07.2008 11:19
actionforex.com
Cable's retreat from 1.9837, though deep, is still contained above 1.9671 minor support. Outlook is unchanged. fall from 2.0006 could have completed at 1.9647 already. Further rise is in favor to retest 2.0006 high. Break will indicate that rise from 1.9408 has resumed. As discussed before, rise from 1.9363 represents...
World
E-commerce
EUR/USD Mid-Day Outlook
10.07.2008 11:19
actionforex.com
EUR/USD's break of 1.5754 resistance reaffirms the case that fall from 1.5908 has completed at 1.5611 already. Further rally is now expected to test this high. Break will confirm that rise from 1.5302 has resumed for retesting 1.6019 record high first. On the downside, though, below 1.5691 will firstly indicates...
World
E-commerce
Bank of England Remains in Wait-and-See Mode
10.07.2008 11:19
actionforex.com
The Bank of England (BoE) left interest rates unchanged today at 5.00%. The decision was widely expected as rate cuts in February and April have been followed by rising uncertainty over the prospects for inflation. In their June meeting, one Monetary Policy Committee (MPC) member dissented and voted for an...
World
E-commerce
Testimony Disappoints the Dollar!
10.07.2008 11:19
actionforex.com
The session's highlight was upon Bernanke's testimony before the House Financial Services Committee. Fears have been rising lately and pressuring U.S equity markets as Fannie Mae and Freddie Mac might extend their problems tied to the U.S mortgage crisis and the Federal backed lenders might be facing capital crisis still.
World
E-commerce
Forex Fundamental Outlook
10.07.2008 11:18
actionforex.com
Data released in the U.S. today saw weekly initial jobless claims fall 58,000 to 346,000 while continuing jobless claims rose 91,000 to 3.202 million - the highest level since December 2003. Euro bids are cited around the $1.5645/ $1.5230 levels.
World
E-commerce
Chart Of The Day: EUR/JPY
10.07.2008 11:18
actionforex.com
Price action on the EUR/JPY 4-Hour chart, as shown, has formed a clear symmetrical triangle. Price has been steadily approaching the apex of this triangle over the past couple of weeks as its volatility has progressively diminished. Considering that this pair has recently been entrenched in a marked uptrend, as...
World
E-commerce
Mid-Day Report: Dollar Breaks Out
10.07.2008 11:18
actionforex.com
Dollar weakens sharply versus Euro and Aussie in US session after Bernanke offers nothing new in his testimony. Bernanke urged consolidated supervision of investment banks. On the other hand, Treasury Paulson said financial firms must be allowed to fail. Dollar shrugged off much better than expected jobless claims today which...
World
E-commerce
(FED) Ben S. Bernanke - Regulatory Restructuring
10.07.2008 11:18
actionforex.com
The financial turmoil that began last summer has impeded the ability of the financial system to perform its normal functions and adversely affected the broader economy. This experience indicates a clear need for careful attention to financial regulation and financial stability by the Congress and other policymakers.
World
E-commerce
DailyFX Trade Calls: Canadian Dollar
10.07.2008 10:15
actionforex.com
The Canadian dollar is like an uncertain teenager trying to figure out what matters most in life - oil, US growth or the health of their own economy. Tomorrow - Canadian employment numbers are due for release and that will provide alot more information on whether the slowdown in the...
World
E-commerce
Will A Worsening Employment Picture Sink The Loonie?
10.07.2008 10:15
actionforex.com
The Canadian labor market is expected to have continued its downward trend in June with job creation declining for the third time in four months. Economist are expecting a gain of 6,500 jobs in June down from 8,400 the month prior and a significant drop from the 40,000+ gains that...
World
E-commerce
Euro Risk For Short Term Bulls at 1.5611
10.07.2008 10:15
actionforex.com
Risk on EURUSD longs can be moved to 1.5611 (for short term traders) and 1.9648 on GBPUSD. The AUDUSD has rallied as expected and risk there can be moved to .9475 (roughly breakeven). We've altered the count slightly but the implications are the same. We are treating the consolidation from...
World
E-commerce
London Session Recap
10.07.2008 08:18
actionforex.com
The US dollar gained some modest ground against the majors in the London session on the back of weak economic data in Europe. In the Eurozone, the highlight was French industrial production for May and it plunged much more than expected at -2.6% for the month after a +1.5% result...
World
E-commerce
Daily Technical Strategist
10.07.2008 08:18
actionforex.com
While prices remain consolidative with its daily 50 ema/LT rising trendline presently at 1.5630/1.5547 still holding, EUR looks to head higher aiming at the 1.5817/42 zone, its May 27'08/Jun 09'08 at first and later the 1.5895/1.5912 area, its Mar 31'08/July 03'08/April 10'08 followed by its YTD high at 1.6018.Daily momentum...
World
E-commerce
BoE Leaves Benchmark Rate Unchanged, As Housing Market Deteriorates Further
10.07.2008 08:18
actionforex.com
The BoE left their benchmark interest rate unchanged at 5.00% as expected. The housing market continues to deteriorate as HBOS reported prices fell another 2% in June. The housing slump and tight credit markets are dragging the country toward recession, making it prohibitive for the MPC to raise rates to...
World
E-commerce
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