Tankan Manufacturing Index could take USD/JPY Over 100
The Tankan Manufacturing Index is major economic indicator in Japan. USD/JPY is climbing slowly to the magical 100 mark. Will this release push it over the top? USD/JPY is trading sideways for a few weeks. On March 4th, USD/JPY reached the peak of 99.65. It was very close to adding a digit, but this psychological resistance [...]
Canadian GDP Could Surprise
GDP is expected soon in Canada, and it’s expected to show a contraction of 0.6%. There are three reasons why it could surprise to the upside. Here’s why. Canada publishes its GDP on monthly basis. This is unique. While the consensus is for a contraction of 0.6%, some conditions have improved lately, and could indicate [...]
Forex Daily Outlook – March 31st 2009
There are lots of economic indicators today, from all over the globe. The main events are the European CPI Flash Estimate, Canadian GDP and the American CB Consumer Confidence . The leaks from the G20 summit will continue to move the dollar also today. British GfK Consumer Confidence was a positive surprise despite being negative: it printed -30 [...]
Yen Dollar Correlation – Upside Story
The US dollar and the Yen continue to work in correlation, and today, the dollar made gains – the Yen extended them. I’ve written in the past about the Dollar Yen Correlation. In previous events, such as the FOMC Trillion dollar printing statement, the dollar weakened, and then the Yen weakened even more. Today, it [...]
What Is Your Preferred Leverage?
What leverage do you use for forex trading? Play safe or use the maximum leverage? Here’s a poll for you. Leverage is common in forex trading. Traders can leverage tiny pips into huge profits – or huge losses. Following a post in the forex blog, I was wondering how traders split: lean for safe play or for [...]
AUD/USD New Resistance Line Formed
AUD/USD fails to extend its gains despite good economic indicators and strong momentum. A new resistance line has been formed, and might be tested later this week. Last week, the Aussie settled above the 0.70 line. There was no technical resistance there – just psychological. After a short struggle, AUD/USD traded nicely above this line, [...]
Forex Daily Outlook – March 30th 2009
The forex market will be moved mostly by speeches around the globe. Important figures include Japanese Prelim Industrial Production and European Consumer Confidence. Let’s see what’s on the menu… New Zealand starts the forex week very early, with the monthly Building Consents. They previously fell by 13.1% – very bad. A further decline could stop the [...]
EUR/GBP Locked Between Uptrend Support and Strong Resistance
EUR/GBP found strong resistance at the magical 0.95 line, and slipped downwards. It doesn’t have much room to move due to uptrend support. This week’s high volatility should push it over the top – breaking resistance on the road to parity. EUR/GBP traded this week in a 250 pips range, from 0.9420 to 0.9170. In [...]
Forex Weekly Outlook – March 30 – April 3 2009
Big week ahead in the forex market. Non Farm Payrolls, ECB rate decision and the G20 summit talks will be the highlights of the week. There are lots of other major indicators this week, that begins with important indicators on Sunday night! Here’s what’s cooking for us this week: Sunday, March 29th: There are important [...]
G20 Summit – To Spend Or Not To Spend?
The G20 summit is due on Thursday. The US and the UK tend to call for a global stimulus plan while Germany wants to slow down. Will money be spent? Who will spend? And how will the forex market move? Heads of state from the top 20 industrialized nations are getting together in London, on [...]
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