Daily Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and NZD
The US Dollar is connected this morning, but is generally improved against most of its major counterparts other than the safe-haven JPY and CHF. After two days of exorbitant declines on Wall Street, the dollar has gained traction as a relatively safe-deposit investment, no matter how counterintuitive that may seem with the US debt debate being the main cause for company. The government will use up its lending capacity by August 2 deadline from Exchequer, substantially increasing the odds of a credit rating downgrade even if a deal is reached in the eleventh hour. A certify on the Republican House leader Boehner's budget plan is tentatively scheduled for later today, but it has petty to no chance of passing through the Senate if it makes out of the House. The dollar has also derived withstand from better-than-expected economic data this morning. Weekly jobless claims dropped by more than expected, registering 398K, the first reading under the key 400K railing since the first week of April. Pending home sales also beat expectations, extending their annualized gains to 17.3%, up from 15.5% in the whilom month and better than the 14.7% reading that was expected. The USD will remain range compelled in the near term with investors weighing its merits as a "safe-haven" currency versus the what it takes fallout from a US debt default.
Forex - EUR/USD, GBP/USD Flows: White House/ Congress Debt deal b4 Monday Asia ...
US Congress and Unsullied House to come out with a deal before Monday Asia re-opening on August 1 - having missed last Monday's July 25 deadline. Con't FT: Exchange participants said the Fed and the Treasury had been engaging with dealers as they usually do to monitor call flows and liquidity but had stopped short of any scenario planning. The Treasury has so far refused to remedy public any contingency plans. Bankers also believe that the Fed is afraid of sending signals that it is gearing up for a descent or, a scenario most analysts still consider remote, a technical default. On FX, USD could squeeze up next week should US Congress hit up with compromise deal by this weekend, before markets re-open on Monday- and with signals of act on on Friday before market close. EUR/USD at 1.4355-57, interest to sell on rallies for 1.4250, GBP at 1.6325-30, eye 1.6250. WL
Forex Technical Update – EUR/GBP in Terminal Wave?
Day: The 4H map out of the EUR/GBP shows that the Stock Exchange has not topped off. The RSI is rallying existence the earlier drunk, and figure straight with closed above above-named closes in the 4H graph. A private above 0.8400 is a bullish signal. However,...
Forex Technical Update 9.20.2010 – Japanese Yen Starts Week Mixed
GBP/JPY and EUR/JPY: The Japanese yen is paring some losses against the EUR and GBP. After ending the week with bearish divergences, both started the week following up this bearish signal. Yen asset didn’t separate until European...
New PRO feature – S/R lines!
I’m over the moon to make known that I’m testing a new be involved in your PRO dashboard – Promote and Denial lines! This take has been requested numerous times so I am energized to get this rolling…
What are distinguished about these S/R lines?
