Top Forex Reviews

USDCAD Analysis. USDCAD stays in a falling price channel on 4-hour chart, and remains in downtrend from 0.9777, and the fall extended to as low as 0.9406. Resistance is at the upper border of the price channel, as long as the channel resistance holds, downtrend could be expected to continue, and next target would be at 0.9300. Only a clear break above the channel resistance will suggest that a cycle bottom is being formed, then consolidation of downtrend could be seen to follow.

USDCHF Analysis. USDCHF remains in downtrend from 0.8276.

Full post…

What happens when bad politics get in the way of good economics? Well quite simply you get what we’ve seen transpire over the course of the last 18/24 months. The Global Financial Crisis (GFC) gave the world the perfect opportunity to conduct the most comprehensive purge of poor economic practices and leave the world a cleaner place poised for staggered, slow and yet constructive economic progression for the foreseeable future. However, one rather important thing got in the way of what should have been a golden age for the global economy, politicians…

Let me explain. We’

Full post…

Although the U.S. government has never officially defaulted on its debt, it missed payments on some Treasury Bills in 1979. Then as now, Congress was playing a game of chicken with Republicans and Democrats bumping heads on raising the debt ceiling. The debt limit was a fraction of its current levels and at the time, the dollar only fell briefly. The 0.6 percent drop in the Dollar Index was so small that it was barely left an imprint. However less than a month later, double digit inflation and concerns about the outlook for the U.S. economy along with the security of the U.S.

Full post…

USDCAD Analysis. USDCAD remains in downtrend from 0.9777, the rise from 0.9423 is treated as consolidation of downtrend. Further fall to 0.9300 could be seen after consolidation, and a breakdown below 0.9423 could signal resumption of downtrend.

USDCHF Analysis. USDCHF broke below 0.8082 support and continued its downward move. Further fall could be seen in a couple of days, and next target would be at 0.7800 area. Resistance levels are at 0.8070 and 0.8100, as long as these levels hold, downtrend will continue.

USDJPY Analysis. USDJPY’s fall from 81.47 extended to as low as 77.89. R

Full post…

***Economic Data***

– (IN) India Central Bank (RBI) raises Repo and Reverse repo Rates by 50bps to 8.00% and 7.00% respectively; More than the 25bps expected; Maintain the Cash Reserve Ratio (CRR) at 6.00% (as expected)
– (GE) Germany Aug GfK Consumer Confidence Survey: 5.4 v 5.6e
– (FI) Finland Jun Unemployment Rate: 8.4% v 9.8% prior
– (SZ) Swiss Jun UBS Consumption Indicator: 1.48 v 1.88 prior
– (FR) France July Consumer Confidence Indicator: 86 v 82e
– (HU) Hungary May Retail Trade Y/Y: +0.7% v -0.4%e
– (SA) South Africa May Leading Indicator: 131.5 v 133.8 prior
– (SW) Sweden Jun PPI M/M: 0.1% v 0.2%e; Y/Y: -0.2% v -0.1%e
– (PD) Poland Jun Retail Sales M/M: 1.4% v 2.2%e; Y/Y: 10.9% v 11.8%e
– (PD) Poland Jun Unemployment Rate: 11.8% v 11.8%e
– (UK) Q2 Advanced GDP Q/Q: 0.2% v 0.2%e; Y/Y: 0.7% v 0.8%e
– (UK) May Index of Services M/M: 1.6% v 0.8%e; 3M/3M: 1.2% v 0.9%e

Fixed Income
– (NV) Netherlands Debt Agency (DSTA) sold total €2.75B vs. € Full post…

Moody’s downgraded Greece to Ca from Caa1 and there is only 1 more notch to go before the rating hits the rock bottom. This has coincided with a statement from the Institute of International Finance over the weekend which implied that they see the probability of a Greek default at virtually 100%. This follows last week’s announcement from the EU of a second package of assistance for Greece which, upon reflection over the weekend, doesn’t appear to have any substance in the markets.

The Euro closed the week on the front foot and with the talks in the US on raising the debt-ceiling breaking up on Friday with no agreement, the scene was set for a strong week for the Euro. Moody

Full post…

• Marketmoving items may include: GB GDP, US New Homes Sales, Conference Board Confidence, 2yr Auction..

• Financial markets remain focused on the political debate in the U.S. between the administration and the House Republicans. House Republicans are using debt limit debate to force politicians to address longterm budget deficits, while the administration wants to defer budget discussions  until after the next election. Th

Full post…

The Australian dollar has broken higher from the recent consolidation range and the coming week’s data could determine whether this will be a longer term trend resumption move or not.  Inflation data, which is due this week, could influence the next rate decision for the Australian Dollar.
Recent RBA meeting minutes are giving mixed signals. The RBA is in “wait and see” mode and their next decision could determine whether the all time highs on AUD/USD are surpassed. This week’s CPI data is seen as key regarding any future interest rate decision and shows changes in the cost of goods and services as purchased by consumers; this data is released quarterly. Full post…

This week saw a string of good earnings releases from particularly technology companies such as IBM, Intel and Apple delivering strong performance. Not all technology companies however shined with Nokia continuing its decline with its first quarterly loss in more than six quarters. Meanwhile, financial companies’ earnings have been mixed with Goldman Sachs missing estimates as the investment bank had a bad trading quarter, contrary to its rival Morgan Stanley which posted better than estimated earnings, making it the only major investment bank to show growth in trading revenue this quarter. Full post…

ECONOMIC < ?xml:namespace prefix = st1 ns = "urn:schemasmicrosoftcom:office:smarttags" />DATA ANALYSIS< ?xml:namespace prefix = o ns = "urn:schemasmicrosoftcom:office:office" />

ONE DOWN, ONE TO GO

• Relief rally following EU Summit measures unified political will trumps outstanding questions for now.

• US debt ceiling issue remains unresolved, despite signs of progress. Preli

Full post…