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2012-09-28 01:29 GMT
First Spanish banks stress test leaks
According to James Glynn, Senior Economics Reporter Dow Jones/Wall Street Journal, "6 Spanish banks have been found to hold sufficient capital levels, while the remaining 8 that were stress tested will need more." Majors are unchanged 90m into the Japan open, with HK opening now, which should bring some wider moves.
Friday's London session will see Spanish current account being published, along with French GDP final at 05:30 GMT, followed by German retail sales 30 minutes later, French consumer spending and PPI 45 minutes after, Spanish CPI at 07:00 GMT, Italian PPI 1 hour later, EU and Italy CPI at 09:00 GMT, and ECB governing council member Asmussen to give a speech in Berlin at 11:00 GMT.
Read More
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2012-09-28 07:00 GMT
Switzerland. KOF Leading Indicator
2012-09-28 12:30 GMT
Canada. Gross Domestic Product
2012-09-28 12:30 GMT
United States. Core Personal Consumption Expenditure - Prices Index
2012-09-28 13:55 GMT
United States. Reuters/Michigan Consumer Sentiment Index
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2012-09-28 04:39 GMT
EUR/USD above 1.29 ahead of Spanish banking sector stress test results
2012-09-28 03:55 GMT
NZD/USD triggers stops above 0.8350
2012-09-28 02:35 GMT
USD selling off across the board
2012-09-28 01:54 GMT
USD/JPY on a dovish gradient - OCBC
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SUMMARY
Down
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TREND
Upward
penetration
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: It seems that gradual decline from the major upside move expressed in correction formation comes to the end soon. Our next resistance level is the key point for the further uptrend development, if the market failed to break it today we expect to see decline below the suggested support level.Main scenario: Appreciation above the next resistance level at 1.2944 (R1) would suggest next targets at 1.2969 (R2) and 1.2995 (R3) for today and determine medium term bias.
Alternative scenario: Bearish penetration below the support at 1.2907 (S1) would then targeting 1.2884 (S2) and 1.2858 (S3) intraday.
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SUMMARY
Down
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TREND
Upward
penetration
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Overbought
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: Yesterday positive tendency remains in power with the significant strengthening for the morning hours today. In near future we expect to see some consolidation and possibly pull back. However if it manage to stabilize above the next resistance level, market sentiment would be clearly bullish.
Main scenario: Potential is seen for break above the 1.6269 level (R1) and open initial targets at 1.6281 (R2) and 1.6294 (R3) levels.
Alternative scenario: Downside development remains for now limited by next support level at 1.6243 (S1), with only clear break here would be a signal of market weakening with next targets at 1.6231 (S2) and 1.6217(S3).
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SUMMARY
Sideway
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TREND
Downward
penetration
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: USDJPY almost reached our target at 77.45 and we expect further decline today as main scenario. It is clearly seen that pair broke sideways channel and volatility start gaining momentum on the hourly chart. Stochastic Oscillator is oversold and this is a good signal for the bearish market participants under the trend market conditions.
Main scenario: Our next support locates at yesterday target – 77.45 (S1). Break here would open route towards to our next targets at 77.31 (S2) and 77.17 (S3).
Alternative scenario: Appreciation above the next resistance level at 77.63 (R1) would suggest next targets at 77.76 (R2) and 77.89 (R3) on the upside part.
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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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