World / E-commerce
USD/CHF Mid-Day Outlook
14.07.2008 11:21
actionforex.com
USD/CHF's recovery from 1.0136 was limited at 1.0250 and weakens against in early US session. While some consolidation could be seen, outlook remains basically unchanged. Upside should be limited well below 1.0352 resistance and bring fall resumption. As discussed before, prior break of short term rising trend line support with...
World
E-commerce
USD/JPY Mid-Day Outlook
14.07.2008 11:21
actionforex.com
USD/JPY's recovery from 105.64 was limited at 106.80, slightly below 4 hours 55 EMA (now at 106.81) and retreats mildly. While some more consolidation could still be seen, outlook remains basically unchanged. Rebound from 104.98 should have completed at 107.75 already and further decline is now expected to retest this...
World
E-commerce
GBP/JPY Mid-Day Outlook
14.07.2008 11:21
actionforex.com
GBP/JPY recovers mildly today but after all it's still limited below 212.32 resistance. Outlook remains unchanged. Sideway trading from 209.39 should be consolidation to fall from 213.91 only. As mentioned before, failure to sustain above 213.48 key medium term resistance argues that at least a short term top is possibly...
World
E-commerce
USD/CAD Mid-Day Outlook
14.07.2008 11:21
actionforex.com
USD/CAD dives further to as low as 1.0042 today as correction from 1.0322 resumes. Further decline is now in favor to 61.8% retracement of 0.9818 to 1.0322 at 1.0011 or lower. But still, downside is still expected to be contained well above 0.9957 resistance turned support and bring resumption of...
World
E-commerce
Mid-Day Report: Dollar Recovery Short Lived
14.07.2008 11:21
actionforex.com
Dollar was lifted earlier today by US Treasury and Fed's rescue package to save Fannie Mae and Freddie Mac but the boost was mild and rather short lived. The greenback is back under pressure in early US session, in particular, pressing 25 year low against Aussie and dives against Canadian...
World
E-commerce
Quiet Day today: Interest Rate Announcement Tomorrow
14.07.2008 10:13
actionforex.com
We expect that the Bank of Canada will hold the overnight rate steady at 3.00%. The accompanying press release is likely to continue to reiterate concern that the balance of risk on inflation has shifted to the upside, similar to what was stated after the last policy-setting meeting June 10...
World
E-commerce
Daily FX Forecast
14.07.2008 10:13
actionforex.com
EUR/USD has eased down to 1.5850 first Support earlier today as it was suggested No important fundamental news today The uptrend remains intact in mid term for retest of 1.6010-20 record highs region First Resistance comes near 1.5900 now Beyond leads price further to 1.5950 and 1.6020 over the next...
World
E-commerce
GSEs' Impact on Foreign Inflows & Risk Appetite
14.07.2008 10:13
actionforex.com
Almost 4 months to the day after the Fed backed the JP Morgan rescue of Bear Stearns, the Fed and the US Treasury intervene to provide a 3-part rescue plan for US Government Sponsored Enterprises Fannie Mae and Freddie Mac. The US Treasury will increase its existing $2.25 bln lines...
World
E-commerce
Top Currency Trading Ideas for the Week of July 14, 2008
14.07.2008 10:13
actionforex.com
Our USD bearish stance has been proved correct to this point and we think there is a good deal of weakness going forward. The EURUSD is still the best option as the first bullish objective is not until 1.6324. A USDJPY collapse is possible as the pair is quietly making...
World
E-commerce
Technical Analysis Daily: USD/JPY
14.07.2008 08:14
actionforex.com
The US Dollar dropped significantly on Friday against the Japanese Yen from Friday's top 107.30 to the bottom 105.80, which are the first resistance and support levels respectively for the currency couple today, but today the USD/JPY shows a positive sentiment. If the negative trend continues, next support further down...
World
E-commerce
London Session Recap
14.07.2008 08:14
actionforex.com
The buck was mostly bid against the majors in the London session, helped by positive news on the GSE front and some poor Eurozone economic data. Mortgage GSEs rallied ahead of the NY open as Treasury Secretary Paulson asked Congress to give the government the authority to buy unlimited shares...
World
E-commerce
US Economic Indicators Preview
14.07.2008 08:14
actionforex.com
On Wednesday, Federal Reserve Chairman Ben Bernanke will present the semiannual Monetary Policy Report to the Senate Banking Committee. As usual, another appearance is scheduled for the following day at the House Financial Services Committee. Mr. Bernanke can be expected to stick basically to the position outlined in the FOMC...
World
E-commerce
EMU Economic Indicators Preview
14.07.2008 08:14
actionforex.com
In July, the German ZEW economic sentiment will probably have deteriorated for the fourth consecutive time. The US ISM manufacturing index improved slightly, but the correlated ifo indicators plummeted. Moreover, the euro has remained strong and the German yield spread has deteriorated recently, as long-term interest rates have gone down...
World
E-commerce
FX Thoughts for the Day
14.07.2008 08:14
actionforex.com
Aussie tested 0.9719 on Friday after almost 25 years, the last time it traded above 0.9700 was in 1983. However, as earlier thought the break beyond 0.9700 has not bought a huge upside momentum along. It has in fact bought it close to a very important Resistance at 0.9735-48 region...
World
E-commerce
US: Fed and Treasury Take Action on GSEs
14.07.2008 08:14
actionforex.com
Late last night both the Federal Reserve and the Treasury issued statements granting more explicit support for Fannie Mae and Freddie Mac. The initiatives involve extended liquidity provision by the Fed and the Treasury, as well as a temporary authority for the Treasury to inject capital into either of the...
World
E-commerce
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