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2012-08-24 03:51 GMT
Likelihood BOJ forced to ease remains high - Nomura
Following the deterioration in the Japanese trade balance in July, Nomura research team expects that while Japanese exports should recover going forward, the recent export weakness has one direct JPY negative implication. According to the bank, it puts further pressure on the BOJ to ease monetary policy again this year. "While US economic data are now suggesting a better near-term outlook, we think the likelihood of the BOJ being forced to ease remains high for the time being" the team notes.
Again London session ahead will show no EUR macro data related risk events on the agenda, with focus on Greek-EZ leaders meetings going on, today with Greek PM Samaras visiting German PM Merkel, and also on Spain possibly asking for the bailout as soon as mid Sept according to sources, with its risk premium back above the 500bps for German 10y yields. As usually for Fridays, no EZ sovereign debt auctions will take place today.
Read More
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2012-08-24 07:45 GMT
Japan. BoJ's Governor Shirakawa Speech
2012-08-24 08:30 GMT
United Kingdom. Gross Domestic Product (QoQ) (Q2)
2012-08-24 12:30 GMT
United States. Durable Goods Orders (Jul)
2012-08-24 13:00 GMT
Belgium. Leading Indicator (Aug)
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2012-08-24 04:31 GMT
GBP/USD moving sideways around 1.5860
2012-08-24 02:39 GMT
EUR/AUD above 1.20; fresh 1-month highs
2012-08-24 00:50 GMT
RBA has not intervened in the FX market, Stevens says
2012-08-24 00:07 GMT
EUR/USD overbought, due for correction?
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SUMMARY
Up
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TREND
Sideway
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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
EURUSD reached our target at 1.5935 yesterday. The Samaras-Merkel meeting might bring additional volatility to the markets. We expect that EURUSD might decline today however the medium term bias remains positive. For the short oriented market participants we suggest next targets at 1.2533 (S1), 1.2490 (S2) and 1.2445 (S3). Tendency reversal is possible from these levels. Uptrend development is limited by next resistance level at 1.2594 (R1). Brake here is essential for “Bullish” market participants. Suggested targets for today holds at 1.2635 (R2) and 1.2676 (R3)
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SUMMARY
Up
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TREND
Downward penetration
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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
GBPUSD remains to be traded in positive tone on the hourly chart. Next news in focus from UK is the Gross Domestic Product release at 08:30 GMT. Currently market trades below the suggested support level at 1.5874 and forming correction. Our next targets stay at the same levels: 1.5838 (S1) and 1.5805 (S2). If the market gains momentum we suggest last support at 1.5766 (S3). Key resistance level is placed above the fresh high, formed yesterday -1.5912 (R1). Expected targets for long direction are placed at 1.5952 (R2) and 1.5996 (R3).
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SUMMARY
Down
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TREND
Sideway
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MA10
Bullish
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MA20
Bearish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Today we have important news from Japan that might establish trading tone for a today - BoJ's Governor Shirakawa Speech at 07:45 GMT. From the technical side, USDJPY is trading in a range mode at the current moment while medium term bias is negative. Our support and levels remain the same as yesterday - 78.29 (S1), 78.10 (S2) and last one at 77.91(S3). Possibility of the USDJPY strengthening is seen above the resistance at 78.73 (R1), targeting towards to levels at 78.93 (R2) and 79.13 (R3) in potential.
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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
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Forex and CFDs may not be suitable for all investors. Only invest with money you
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investing. Seek independent advice if necessary.
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