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2012-08-10 04:48 GMT
RBA outlook for growth continues around trend with inflation on target
The RBA’s quarterly update on financial markets and the economy held few surprises for the market, says NAB economist Robert Henderson.
To summarize the report, Robert reports: "The RBA expects some moderation in growth in the second half the 2012 after strong growth in the first half (at least as measured by GDP) and then the economy growing at trend ahead. At the same time, inflation has bottomed but is expected to travel within the target band out to the end of 2014."
As it has been usual in the recent past, Fridays don't bring any critical EZ sovereign debt auctions to take place, and London session ahead will again be a quiet one in terms of EUR macro data related, despite the bunch of minor figures will be released, starting with German CPI and HCPI at 06:00 GMT, followed 45 minutes later by French industrial,manufacturing production, and Gov budget balance, and Italian CPI at 08:00 GMT. The UK will deliver PPI figures at 08:30 GMT which could bring some volatility to cross EUR/GBP. (fxstreet.com)
Read More
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2012-08-10 06:00 GMT
Germany. Consumer Price Index (YoY) (Jul)
2012-08-10 08:00 GMT
United Kingdom. PPI Core Output (YoY)
2012-08-10 12:30 GMT
Canada. Unemployment Rate (Jul)
2012-08-10 18:00 GMT
United States. Monthly Budget Statement (Jul)
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2012-08-10 04:32 GMT
GBP/USD selling to continue upon break of 1.56
2012-08-10 03:54 GMT
After China trade print, worst still to come - HSBC
2012-08-10 03:12 GMT
Trade Balance figures disappoint in July
2012-08-10 02:36 GMT
AUD/USD to fresh session lows post RBA
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SUMMARY
Down
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TREND
Up
trend
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Yesterday instrument declined below our suggested support level at 1.2325 and formed fresh low at 1.2265 (S1), our next support level. Uptrend on the medium term still in power and we might see appreciation of the instrument later on today. A break above next resistance level at 1.2327 (R1) would suggest next target at 1.2420 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 1.2519 (R3). On the other hand, loss of next support at 1.2265 (S1) might lead to the further correction development with targets at 1.2148 (S2) and 1.2038 (S3) levels.
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SUMMARY
Sideway
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TREND
Sideway
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Overbought
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MARKET ANALYSIS - Intraday Analysis
GBPUSD successfully penetrated below our expected support level at 1.5653 and met our first target at 1.5606. Technically, development of the trend might occur in any direction now. Clearance of next resistance level at 1.5647 (R1) would suggest next targets at 1.5696 (R2) and any further rise will be limited by last resistance at 1.5755 (R3) intraday. From the other side, loss of next support at 1.5605 (S1) might encourage executing of orders and drive market price towards to the next targets at 1.5555 (S2) and 1.5501 (S3) levels.
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SUMMARY
Sideway
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TREND
Upward
penetration
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MA10
Bearish
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MA20
Bullish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
As expected yesterday, USDJPY continued its range trading mode and we are not expecting the sentiment change today. Next support level stays at 78.48 (S1). Brake here would suggest next target at 78.29 (S2), where we can see reversal of the intraday tendency. Any further fall would then be limited by last support at 78.09 (S3). From the upper side, next resistance levels locates at 78.79 (R1) and 79.01 (R2). In current market conditions we suggest to wait for clear signal of market sentiment change.
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MARKET INFORMATION AND OPINIONS: Any information provided by FXCC
on this newsletter, including but not limited to news, research, opinions, analyses
and prices, is provided as commentary on the Forex market generally -- in other
words, it is not, and should not be considered as, investment advice. Consequently,
FXCC shall not be liable for any loss or damage, including but not limited to loss
of profits, which arises directly or indirectly from reliance upon or use of information
contained on this newsletter.
RISK WARNING: Trading in Forex and Contracts for Difference (CFDs) is highly speculative
and involves substantial risk of loss. It is possible to lose all your capital.
Forex and CFDs may not be suitable for all investors. Only invest with money you
can afford to lose. Please ensure you fully understand the risks involved before
investing. Seek independent advice if necessary.
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