Daily Financial News & Fundamental Analysis

[Coleen]

Roller Coaster Ride for US Dollar

The U.S. Dollar Index had initially moved higher after the report of better than expected jobless claims but then toppled from a high of 81.943 .DXY to 81.170 .DXY. At one point in Asia, the EUR/USD pair traded at $1.3205, close to a 2-week peak for the Euro, before surging to $1.3363 and has since settled down at $1.3347. Meanwhile the USD/JPY pair was trading at 98.64 Yen and then reversed to 97.00 Yen before edging to 97.24 Yen. Analysts believe that the Federal Reserve’s ambiguity as to the timing of its quantitative easing scheme is exacerbating investors’ uncertainty.

 

[Coleen]

Roller Coaster Ride for US Dollar

The U.S. Dollar Index had initially moved higher after the report of better than expected jobless claims but then toppled from a high of 81.943 .DXY to 81.170 .DXY. At one point in Asia, the EUR/USD pair traded at $1.3205, close to a 2-week peak for the Euro, before surging to $1.3363 and has since settled down at $1.3347. Meanwhile the USD/JPY pair was trading at 98.64 Yen and then reversed to 97.00 Yen before edging to 97.24 Yen. Analysts believe that the Federal Reserve’s ambiguity as to the timing of its quantitative easing scheme is exacerbating investors’ uncertainty.

 

[Coleen]

EUR/GBP rebounds after rough week
The EUR/GBP moved higher in Friday’s European session after failing to register a bid over the previous 5 days. The common currency was simply outpaced this week by the British pound, which enjoyed a bullish run on the back of positive economic data. The euro zone also produced positive figures this week, including several GDP reports that showed the currency bloc finally returned to growth in the second quarter. This however wasn’t enough to secure a gain on its British peer, which advanced on retail sales and jobs data.

 

[Coleen]

Dollar Steady on US Treasuries Yield
The U.S. Dollar Index traded at 81.333 .DXY, a gain of 0.1% and holding steady above August’s low price of 80.868 .DXY. The USD/JPY pair traded at 97.76 Yen, a gain of 0.2% while the EUR/USD pair steadied at $1.3328, pulling back from the Friday’s high of $1.3380. Analysts say that while the Euro had received support from improved economic data their expectations are that the 3rd quarter’s GDP figures are likely to worsen with demand for the Euro eroding.

 

[Coleen]

The USD/JPY pair traded at 98.96 Yen, a gain of 0.3%, adding to Thursday’s 1% rise. The EUR/USD pair eased back to $1.3345, a loss of 0.1%, while the EUR/JPY traded 0.1% higher to 132.04 Yen adding to the better than 1% gain from yesterday. The U.S. Dollar Index traded at a session high of 81.719 .DXY and was recently 0.3% higher at 81.449 .DXY; investors use the U.S. Dollar Index to gauge the greenback’s strength relative to major peers which include among others the Euro and the Yen.

 

[Coleen]

The Japanese Yen had a mediocre week, only finding solace in the fact that emerging markets were in mini-meltdown mode and therefore its role as a safe haven was revived.
The CHFJPY and EURJPY lead the way, adding +1.69% and +1.63% respectively, as the Euro finally started to respond to some of the improved data over recent weeks, while emerging market capital outflows could be finding home in the Switzerland as a haven as well. Profit taking in the GBPJPY saw the pair give back its gains to +0.83% for the week, while the USDJPY hit a three-week high above ¥99.00, before closing up by +1.22% and a hair under 98.70.

 

[newmillionaire]

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[Coleen]

US DOLLAR TECHNICAL ANALYSIS – Prices put in a Spinning Top candlestick below resistance at 10760. Range support is at 10646, with a break below that targeting the bottom of a falling channel set from early July (now at 10581). A reversal above 10760 aims for the channel top at 10804.

 

[Coleen]

EURUSD:
If start bullish movement take profit will be at the level 1.3410 and stop loss at the level 1.3315. In case of bearish movement take profit at the level 1.3257 and stop loss 1.3394.

 

[Coleen]

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[Coleen]

GOLD ANALYSIS – Prices overturned bearish reversal cues noted last week, pushing higher to challenge resistance at the 76.4% Fibonacci expansion (1400.72). A break this barrier targets a rising channel top at 1423.17, followed by the 100% level at 1440.23. Near-term support is at 1376.28, the intersection of the channel bottom and the 61.8% Fib.

 

[Coleen]

USDJPY:
Strategy of trading:

If there is bullish movement than target of buying will be 101.11 otherwise take profit of selling will be 97.981.

 

[Coleen]

Results of trading on
2013.08.19 11:36
sell 0.10 gbpusd
started point: 1.56428
closed at: 2013.08.23 20:01
closed point:1.55766
swap: -1.68
Results: 66.20

 

[Coleen]

GBPUSD:
If the price begins uprend than take profit will be at the level 1.5620 and stop loss at the level 1.5506. In case of bearish movement take profit at the level 1.5457 and stop loss 1.5625.