Forex Market Updates & Commentary |  |
- USDCHF breaks above the 100 hour MA and tests 38.2% retracement
- EURUSD finds support at 1.4100.
- French regulator says French banks are adequately regulated
- Trade Balance -53.1 GDP weaker as a result. Initial Claims 395K
- Report of a ban on short selling of European stocks
- The US Initial Claims due at 8:30 AM ET
- US Trade Balance due at 8:30 AM ET
- UK CB leading index 0.0%
- Japan finance minister Noda declines to comment on either the intervention or rate check.
- Sell off in JPY
- SNB does not have a lot of room to act according to the former chief economist of the central bank.
- German wholesale price index (m/m) -0.6% as expected.
- SNB’s Jordan; measures need not include f/x intervention
- 8-11 Calender
- Aud unemployment rate comes in at 5.1%
| USDCHF breaks above the 100 hour MA and tests 38.2% retracement Posted: 11 Aug 2011 05:52 AM PDT  The USDCHF has continued it’s surge higher, breaking through the 100 hour MA, trendline resistance but found a wall agains the 38.2% retracement of the move down from the July 19th high to the low reached 2 trading days ago. Look for support buyers now against the trendline and the 100 hour MA at the 0.7478 and 0.7435 levels respectively. The 200 hour mA (green line at 0.7590 is the next target.
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| EURUSD finds support at 1.4100. Posted: 11 Aug 2011 05:51 AM PDT
The low from earlier today came in at the 1.4123 area. The 38.2% of the last leg down come in at 1.41458. The quick rejection of the new low and perhaps the article on a ban of short selling, may give traders reason for pause. |
| French regulator says French banks are adequately regulated Posted: 11 Aug 2011 05:40 AM PDT The EURUSD is still unimpressed as it makes new lows for the day. |
| Trade Balance -53.1 GDP weaker as a result. Initial Claims 395K Posted: 11 Aug 2011 05:31 AM PDT The Initial claims were better than expected and the lowest since early April. The Trade Balance was worse than expected and will lower GDP estimates in the process. |
| Report of a ban on short selling of European stocks Posted: 11 Aug 2011 05:24 AM PDT The New York Times is reporting. In other news overnight, the margin requirements on Gold are being increased in order to stem the tide of speculative buying. This in effect requires leveraged accounts to put up more cash per contract. |
| The US Initial Claims due at 8:30 AM ET Posted: 11 Aug 2011 05:02 AM PDT
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| US Trade Balance due at 8:30 AM ET Posted: 11 Aug 2011 04:58 AM PDT
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| Posted: 11 Aug 2011 02:05 AM PDT |
| Japan finance minister Noda declines to comment on either the intervention or rate check. Posted: 11 Aug 2011 01:37 AM PDT |
| Posted: 11 Aug 2011 12:32 AM PDT We saw a quick sell of in the Yen after USD/JPY re-tested the 79.28 low, but it is being reported that it was not invertention- the BOJ was conducting a rate check. |
| SNB does not have a lot of room to act according to the former chief economist of the central bank. Posted: 10 Aug 2011 11:25 PM PDT |
| German wholesale price index (m/m) -0.6% as expected. Posted: 10 Aug 2011 11:08 PM PDT |
| SNB’s Jordan; measures need not include f/x intervention Posted: 10 Aug 2011 09:13 PM PDT The SNB can expand monetary policy further to try and weaken the massively overvalued franc, according to Jordan. Measures could be looked upon as a “kind of QE”, says Jordan. The SNB can raise liquidity even further. |
| Posted: 10 Aug 2011 09:13 PM PDT
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| Aud unemployment rate comes in at 5.1% Posted: 10 Aug 2011 07:05 PM PDT Aud Employment change comes in at -0.1 expected 10.2k and unemployment rate comes in at 5.1% expected at 4.9% Aud/Usd fell down to 1.0115 from 1.0200 after that number now trading at 1.0184 |
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