Daily Analysis

[andy003]

Forex currency news digest

Hello there all traders
Here's currency news update for the Yen, Aud & the Rupee from Bloomberg
30th March 09,Monday

*Yen*
The yen and the dollar rose against the euro on speculation declines in stocks will prompt investors to reduce holdings of higher-yielding assets.


*Aud & Nzd*
The Australian and New Zealand dollars slid for a second day as regional stocks tumbled on concerns about the depth of the global recession. The currencies weakened after their central banks slashed interest rates even as the industrialized world enters a synchronized recession.

*Indian Rupee*
India’s rupee declined the most in almost a month on concern Asia’s weakening economic data will cause overseas investors to take money out of the region.

The currency is headed for a fifth quarter of declines, the longest run of losses since 2002.It’s the second-worst performer among the 10 most-traded Asian currencies in the past 12 months, declining 22 percent.

 

[FXexpert]

Thanks for this analysis & info!

 

[andy003]

Forex ~ Fx Currency Update

Currencies Update for the Day
6th April,09 Monday


*Yen*
Japan's Yen slid to a five- month low against the dollar and the euro as stocks rallied on speculation the global financial crisis is easing.The increasing sense the global turmoil is easing is improving risk-taking appetite among the investors.

*Aud & Nzd*
The Australian and New Zealand dollars advanced as regional equities gained for a fourth straight day after U.S. stocks posted the longest stretch of weekly gains since 2007.

*Asian Market*
Asian economies are poised to “spring back” from the biggest slowdown in more than a decade as lower interest rates, government stimulus plans and tumbling commodity prices is spurring domestic demand.

According to analysts financial confidence may be gradually returning.

 

[andy003]

Fx- Currency Digest for Yen, Aud, Asian Currencies

Fx- Currency Digest for Yen, Aud, Asian Currencies
8th April 09, Wednesday

*Yen*
The yen and the dollar rose against the euro as Asian stocks extended a worldwide decline, boosting demand for the two currencies as a refuge from financial turmoil.The yen gained against all of the 16 most-active currencies.

*Aud & Nzd*
The Australian dollar slid for a fourth day, heading for its longest losing streak since January, as regional stocks fell, fueling speculation investors will avoid higher-yielding assets. New Zealand’s currency weakened.

*Asian Currencies*
South Korea’s won fell for a second day as a retreat in global stocks prompted investors to favor safer bets than emerging-market assets.South Korea has been Asia’s worst performer this year.

 

[Pinalli]

The AUD/USD dropped almost 80 pips during the overnight session in contrast with the major gains seen in the previous day of trading session. Moreover the good news is that the aussie crossed the highest valuation in the last half year when yesterday it moved very close to the 200-day SMA.

One of the major releases for today is the National Australia Bank business confidence report. It is seen in the report that Business confidence in Australia has improved to -13. It is an improvement of 9 points from last month's reading of -22.

The Yen dropped to 70 pips during the last Asian session, but hit support at the level of 99.40 soon after the European market open. The Japanese yen strengthened overnight as the currency market was driven by risk aversion once again...

Regards

 

[andy003]

According to Forex updates the AUD previously raised to its maximum in more than 6-months vs. the Euro but then drawn back sharply after Asian shares fell down, prompting investors to decrease risky bets which includes the AUD also pushing the JPY broadly higher.

 

[Pinalli]

Aussie has just broken the trend line support. It should ideally hold 0.7100 levels. Only a break below 0.7100 for 2 consecutive sessions would change the outlook neutral.

 

[frankmartin]

Thank you for sharing useful informations.This involves not only a good broker, but it is also necessary to research how the spreads are priced. As the trader pays quite a bit of money over a period of time, it is important to find a good Forex broker. The broker often offers a trader variable and fixed trade spreads, this depends on the trading styles that are individualized most times. The buy and sell price of a currency pair fluctuates in variable spreads and widen in volatile market conditions and is low during market inactivity. Being predetermined, the fixed spread stays constant in trading conditions. A small premium is paid in quiet market conditions when the variable spread is lower with the broker ensuring that the spread will not be widened at any time. As a better strategy, fixed spreads are convenient for the trader unlike the variable that inflates transaction costs for the trader at critical times.

 

[andy003]

On Friday, overall, although durable goods orders and new home sales coming in greater than had been expected, the USD declined in the board market as US equities posted strong gains on the last day of the week in response to higher than expected earnings. Traders’ appetite for risk continue to rise, as stocks continue to increase, hurting the USD because demand for safer assets turndown. According to Forex updates the USD end the day weaker against all the major currencies, excluding the Pound, which lost ground after it was reported the UK economy contracted much more than predicted in the first quarter of 2009. US goods orders fell down by 0.8% while the core number fell down by 0.6%.

 

[andy003]

US Dollar Index: Investors are long but not tremendously long (commercials are short, but not extremely short). This is bullish.

EUR: The 13 week index has turned over from 100, which pointed towards an emotion extreme (hopefulness extreme in this case). This is tremendously bearish for the Euro.

GBP: The 13 week index is at 75 and has not been severe lately, which is neutral. There is no response extreme from which to grasp a contrarian sight.

AUD: The 13 week index has turned over from 100. Clippings arise when the index is at or close to 100, so the chance that a top is in place is high.

NZD: The 13 week index has turned over from 100. Clippings arise when the index is at or close to 100, so the chance that top is in place is soaring.

JPY: The 13 week index is at 0. These shows that commercial were the best ever they had been in 13 weeks and opportunists the shortest they had been in 13 weeks. This is bullish for the Yen.

CAD: The 13 week index is at 100, which shows a sentiment extreme. Trimmings (in the CAD here) come about when the index is at or close to 100, so anticipate the CAD to top (USDCAD bottom).
CHF: The 13 week index is at 0. A turn up from 0 would be bullish. Until that time, a bearish response extreme can remain in place.

 

[Pinalli]

At 11:15PM GMT, the Dollar was up .33% to the Euro to 1.3227, up .97% to the Yen to 98.57, down .3% to the Sterling to 1.4777, down .87% to the Canadian Dollar to 1.1929 and up .3% to the Swiss Franc to 1.1408.

At 11:30PM GMT, the Euro was trading up .6% to the Yen to 130.34, down .5% to the Sterling, down 1.12% to the Canadian Dollar to 1.5783 down .37% to the Australian Dollar to 1.8219 and flat to the Swiss Franc to 1.5091.

 

[andy003]

A researcher at the State Council’s Development Research Centre think-tank, Zhang Liqun said that the April PMI shows that the Chinese economy will keep improving, a development seen in the figures for consumption, investment and export growth in the first quarter.

 

[andy003]

The near the beginning cross moved drop to 94.55 suggest intra-day low is completed, 95.19/22 should upside and yield one more drop but underneath said upward trend needed to make bigger flaw to 94.28/30 before rebound due to defeat of momentum.
EURO completed the high 1.3489 and low 1.3425.The fall is week start counterfeit move. It is predictable to create a novel low under the low momentarily throughout seal of Japanese session and then swing and rise throughout European session to plunge once more towards close of European session to go up during US session on top of high.

 

[Pinalli]

More German data was released today that showed the largest European economy had shrunk at a pace that has been unseen since the 1990 reunification of Germany. Adding oil to the fire for the Euro was a comment by one of the German financial regulators who stated that the toxic assets held by German banks were a ticking time bomb, his exact words were in debate after reports quoted him as saying "it could blow up like a grenade." The drama drove the Euro to a lower session even against the higher yielding currencies as risk appetite improved with the news from the United States.

Behind the Data in Daily FX market

The Federal Statistics Office in Germany announced that GDP had fallen 3.8% in the first 3 months of 2009 and 6.7% year over year from first quarter 2008 to first quarter 2009. The data showed that decreases in exports and foreign investment had been the biggest factor in the sharp decreases

At 11:50PM GMT, the Euro was down .1% to the Japanese Yen to 132.78, down .33% to the British Pound to .8779, down .9% to the Canadian Dollar to 1.5622, down .8% to the Australian Dollar to 1.7772 and down .1% to the Swiss Franc to 1.5162.