FXstreet.com: Technical: Technical Market View

USD mixed, unemployment rises to 10.2%

info@easy-forex.com (Easy Forex) — Fri, 06 Nov 2009 18:39:33 GMT

USD: Lower, rising US unemployment reduces the odds of a mid-2010 Fed tightening, stocks mixed JPY: Higher, September leading indicator rises, safe haven demand on weak US jobs data EUR: Mixed, German industrial orders rise, ECB signals the start of its exit strategy GBP: Mixed, PPI rises, BOE may be nearing final stages of quantitative ease CAD and AUD: AUD higher & CAD lower, hawkish RBA policy statement, Canada lost jobs in October Overview US October unemployment came in worse than

Fed, BOE and ECB kept rates on hold

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Fri, 06 Nov 2009 15:50:05 GMT

Overview Alternating up and down days this week as many instruments hover at 50-day moving averages and/or longer term trendlines – while waiting for today’s important US Jobs report. Much talk of investors looking to increase holdings of ‘risky’ assets, explaining spot Gold’s rally to a new record $1097.25. Gold, risky? Since 1970’s move to floating exchange rates it has been shown to be the only store of wealth to retain its purchasing power. Equity indices recovered some of last week’s

Chart EUR/USD Update: Resistance at 1.4865/70

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 13:59:44 GMT

Published at 13:46 (GMT) 06 Nov

Technical Major Currencies Midday Report

support@ecpulse.com (ecPulse.com) — Fri, 06 Nov 2009 13:14:25 GMT

EUR/USD The euro versus dollar pair is still suffering from the extreme resistance from 1.4905, which forces it to continue to move bearishly. Through the image above, we see bullish technical pattern forming, while we await the breach of its neckline at 1.4905 to open a way to achieve the expected bullish trend for today. It is important to observe the time U.S. unemployment and wages data will be released, where it is expected at 13:30 GMT, which will always cause mixed volatile trading on

Most commodities have risen a little overnight.

danskeresearch@danskebank.com (Danske Bank A/S) — Fri, 06 Nov 2009 13:12:04 GMT

Commodity news Most commodities have risen a little overnight. Equities performed strongly yesterday on better-than-expected US jobless claims and upbeat earnings reports; EUR/USD little changed this morning. A copy of the IEA’s forthcoming World Energy Outlook leaked to the FT stated that “global gas markets have evolved from a seller’s market, driven by tight supply and demand, to a buyer’s market as demand weakens while new supply comes on stream”. The IEA projection of overcapacity of gas

Chart EUR/CAD Update: Bounce must extend into the close

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 12:53:18 GMT

Published at 12:38 (GMT) 06 Nov

Forex - Major Risk Events Pass And Point To Further USD-Selling Into Year End

support@ac-markets.com (ACM - Advanced Currency Markets) — Fri, 06 Nov 2009 11:42:44 GMT

Forex News and Events: With the major central bank meetings of November out of the way and Q3 corporate earnings on the table, investors have already digested most of the major risk events likely to sculpt FX markets up until year-end. Continued improvement in the economic backdrop coupled with central bank assertions that accommodative policy will remain in place for the time being leaves us in a sweet spot of cheap liquidity and heightened risk sentiment; meaning ample fuel for further asset

London Session

info@forex.com (FOREX.com) — Fri, 06 Nov 2009 11:05:45 GMT

The ability of stocks to edge higher again today suggests that the concerns over a pullback in risk appetite which was evident at the end of last week may have been overdone. Over the past month several US data releases have surprised on the upside. The surge in the employment component of the ISM manufacturing stands out but factory orders, retail sales, industrial production and Q3 GDP all suggest that the world's biggest economy is grinding its way out of recession. This afternoon's

Crude slightly lower

piet.lammens@kbc.be (KBC Bank) — Fri, 06 Nov 2009 10:52:34 GMT

Headlines Crude slightly lower Gold hovers below 1100$/oz level Base metals correct previous gains

Russian Federation FX Flows - The ruble approaches the key 35.300 mark against the basket

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 09:49:57 GMT

Published at 09:29 (GMT) 06 Nov

Forex Trading - Forex Market Awaits Non-Farm Employment Change Figures

info@forexyard.com (ForexYard) — Fri, 06 Nov 2009 09:19:43 GMT

Today, traders should pay close attention to the release of the U.S. Non-Farm Employment Change report. This indicator always produces extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following this vital announcement at 13:30 GMT. Economic News USD - Non-Farm Employment Change on Tap The Dollar was little changed against most of its major counterparts during yesterday's trading session, a day ahead of a key government jobs report

The Dollar drops as investor view the FED's stimulus to continue well into 2010

support@finotec.com (Finotec Group Inc.) — Fri, 06 Nov 2009 11:16:42 GMT

The greenback traded lower versus the euro before the U.S. payrolls report on speculation the Federal Reserve will trail other major central banks in ending economic stimulus. The U.S. unemployment rate rose to 9.9 percent last month from 9.8 percent in September, according to the median estimate of 81 economists in a Bloomberg survey before tomorrow’s Labor Department report. The S&P advanced 1.5 percent after the U.S. Labor Department announced that initial jobless claims dropped to

Little movement in EUR/USD and USD/JPY

danskeresearch@danskebank.com (Danske Bank A/S) — Fri, 06 Nov 2009 08:24:08 GMT

Key news Equities performed strongly yesterday on stronger jobless claims and upbeat earnings. Asian markets trade higher taking the lead from US markets. Bond yields unchanged overnight awaiting the US non-farm payrolls report today. Little movement in EUR/USD and USD/JPY while SEK has gained on the rise in risk appetite. Extension of US home buyer tax credit approved in the Senate. A more optimistic quarterly report from Reserve Bank of Australia pushed up AUD. Markets Overnight Equity

Technical Major Currencies Morning Report

support@ecpulse.com (ecPulse.com) — Fri, 06 Nov 2009 08:07:07 GMT

EUR/USD The euro versus dollar pair attempted to achieve more bullish movements yesterday evening, where the pair faced resistance levels that could possibly form a resistance line of a bearish channel channel that might prevent it from upside resumption as shown in the image above. On the other hand, we expect to see some fluctuations that could gain enough bullish momentum to support the ascending process and then breach the resistance at 1.4905 and head towards the next target around

US Major Nidal Malik Hasan shoots dead 12 and wounds 31 at largest army base, Texas

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Fri, 06 Nov 2009 07:37:40 GMT

Quote: ‘The Bank of Scotland loan book was awful. It lent to anyone with a glass of whisky in his hand who was wearing a kilt’. Lord James of Blackheath (1937-) The News: US Major Nidal Malik Hasan shoots dead 12 and wounds 31 at largest army base, Texas. The Numbers: Greenwich Mean Time, with expectations and previous figures in brackets. 05:00 JP September Leading Index 86.4, Coincident Index 92.5, versus 83.2 and 91.2 August. 06:45 CH October Jobless 4.1% S/A versus 4.1% September. 09:30 GB

EUR/USD, GBP/USD Flows - Darling:G20 will not remove stimulus too early; PM Hatoyama

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 07:29:48 GMT

Published at 07:13 (GMT) 06 Nov Focus on G20 for any FX comments, given the rising EUR (though off its 14-month highs of 1.5064), now about 2-big figures lower at 1.4865-70. Hearing Sovereign, real money offers at 1.4900/ 1.4920-50 - not surprised to hear Swiss supranational/ ENCBs offers and any complaints from Eurozone on strong EUR. UK Chan Alistair Darling, Host of the G20 meet in St Andrews, says G20 to agree not to remove economic stimulus too early. Global recovery is by no means

Asia Session

info@forex.com (FOREX.com) — Fri, 06 Nov 2009 06:56:11 GMT

It was an uninspiring final day of the Asian trade week as traders sat on the sidelines ahead of US employment data due out later in the day. The non-farm payroll and unemployment data will be a strong indication of the strength of the current recovery in the US. The forecasts show a loss of 173K jobs for last month and an overall unemployment number of 9.9%, up from last month's 9.8%. As could be expected, if the data disappoints the dollar should be the benefactor, and on the other hand, if

Chart EUR/JPY Update: Firmer in range

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 06:39:54 GMT

Published at 05:37 (GMT) 06 Nov

Positive Economic News Bolsters Markets

info@thetechtrader.com (The Technical Trader) — Fri, 06 Nov 2009 05:47:36 GMT

It was a very strong rally from the get-go today. With positive economic news, the market gapped up and ran hard in the morning, and settled into a multi-hour consolidation that lasted for the rest of the session on the Nasdaq 100. But the S&P 500 managed to work its way higher to close at new session and rally highs. Net on the day the Dow was up 203.82 at 10,005.96, closing over 10,000 for the first time in a while. The S&P 500 gained 20.13 at 1066.63, and the Nasdaq 100 was up 40.42

Chart EUR/JPY Update : Firmer in range

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 05:48:38 GMT

Published at 05:37 (GMT) 06 Nov

Pause Before Next Upmove for Oil

info@advicetrade.com (MPTrader.com) — Fri, 06 Nov 2009 05:42:56 GMT

If a new, powerful upleg in the US Oil Fund ETF (NYSE: USO) started at the 9/25 low at 33.45, the pattern carved out since exhibits a structure that is incomplete to the upside. Although the major upside thrust occurred into the Oct 21 high at 41.92, the 9-trading session pullback into Tuesday’s pivot low at 39.13 represents the conclusion of a correction within the larger incomplete upleg that projects to 43.00-44.00 in the upcoming hours/days. The rally from Tuesday’s low at 39.13 to

US Dollar Steadies before Friday's NFPs but should we Expect Breakouts?

research@dailyfx.com (DailyFX) — Fri, 06 Nov 2009 05:40:57 GMT

British Pound Holds up Despite an Expansion of the BoE’s Bond Purchase Program Euro Shows Limited Response to ECB’s Slow, Hawkish Policy Turn Canadian Dollar not to be Overshadowed Friday with its Own Employment Data US Dollar Steadies before Friday’s NFPs but should we Expect Breakouts? The combination of tepid economic event risk and the looming presence of a key event indicator yet to come worked to stabilize the dollar through Thursday’s session. In contrast to the significant rally and

Flows - USD/IDR bears stalls; cigarette taxes in the pipeline?

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 03:32:38 GMT

Published at 03:12 (GMT) 06 Nov USD/IDR has stuck in relatively tight range, without headway below 9450 and also while remaining relatively soft below 9480. Ahead of NFP markets are not seen wagering on any big moves. More consolidation into the day is expected with traders likely to be watching risk appetite and macro FX cues. The government may be looking to impose cigarette taxes of >5% effective Jan 2010. This should be a positive for the bond markets given positive implications for the

Market Morning Briefing

info@kshitij.com (Kshitij Consultancy Service ) — Fri, 06 Nov 2009 03:37:32 GMT

Morning Briefing : 06-Nov-2009 - 0330 GMT GOOD MORNING! EQUITIES The US equities surged yesterday after better jobless claims numbers made investors optimistic a day ahead of the US Non Farm Payrolls data release. The Dow closed above 10000 surging over 2% and Nasdaq surged nearly 2.5% led by better forecats by Cisco. Technically, the Dow has found some solid Support at 9650 this week and this Support shall have to continue holding, if the rally is to continue. The Asian indices are rejoicing

Chart USD/TWD Update: Leaning towards lower end of 1-week plus consolidation

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 02:55:35 GMT

Published at 01:11 (GMT) 06 Nov Prices are trading towards the lower end of 1-week plus consolidation at 32.440 and need a sustained move below latter to expose the daily support line at 32.390. Break of the latter will trigger a stronger sell-off. On the upside, good resistance seen at consolidative high of 32.630 and lift above to revive broader upmove from 31.995 low. R5: 32.760

US Unemployment Data Looming

info@easy-forex.com (Easy Forex) — Fri, 06 Nov 2009 01:39:20 GMT

US Unemployment Data Looming U.S. Dollar Trading (USD) with stocks rallying for a 4th day the market went back into 'risk on' mode and the USD was on the back foot. Weekly Jobless claims were 512k vs. 530k previously. Q3 Productivity at 9.5% was very strong vs. 6.5% forecast. In US Stocks, DJIA +203 points closing at 10005, S&P +20 points closing at 1066 and NASDAQ +49 points closing at 2105. Looking ahead, October Non Farm Payrolls forecast at -175k vs. -263k previously. The October

Chart USD/JPY Update : Stays in range

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 01:17:10 GMT

Published at 00:30 (GMT) 06 Nov

Daily Market Outlook

cs@acetrader.com (AceTrader) — Fri, 06 Nov 2009 00:31:38 GMT

Market Review - 05/11/2009 21:57 All times in GMT Dollar ends little changed ahead of U.S. job data The dollar ended mixed against major currencies on Thursday as investors closed positions and stayed on the sidelines a day before release of the key U.S. jobs data. The Labour Department reported that U.S. weekly jobless claims fell to a 10-month low of 512,000, well below the economists' forecast of 523,000 and revised 532,000 for the previous week. The greenback rebounded

SGD, THB, KRW, TWD, IDR, PHP FX Chart Roadmap ; Daily Technical Summary

analysis@fxmarketalerts.com (FXMarketAlerts) — Fri, 06 Nov 2009 00:16:29 GMT

Published at 23:02 (GMT) 05 Nov

New York Session

info@forex.com (FOREX.com) — Fri, 06 Nov 2009 00:08:33 GMT

Upbeat economic data helped stocks extend gains but the US dollar remained relatively flat on the day. Initial jobless claims in the US fell to 512K from 532K and the market rejoiced. Nobody bothered to report that the true continuing claims number (state and federal programs), however, remains near a whopping 9 million and has shown no improvement in recent weeks. This suggests it is still very difficult for folks who lost a job to find a new one. Equities closed up 2% on the day nonetheless

Chart USD/JPY Update: Less trend, more range at this time

analysis@fxmarketalerts.com (FXMarketAlerts) — Thu, 05 Nov 2009 22:32:06 GMT

Published at 17:45 (GMT) 05 Nov

Chart EUR/CZK, EUR/HUF, EUR/PLN, USD/TRY, USD/ZAR Updates

analysis@fxmarketalerts.com (FXMarketAlerts) — Thu, 05 Nov 2009 22:29:11 GMT

Published at 16:35 (GMT) 05 Nov

Chart EUR/CAD Update: Bounce moving slowly

analysis@fxmarketalerts.com (FXMarketAlerts) — Thu, 05 Nov 2009 22:26:22 GMT

Published at 16:35 (GMT) 05 Nov

Mexico Flows - Back to underperform in the region. Carstens comments on the obvious

analysis@fxmarketalerts.com (FXMarketAlerts) — Thu, 05 Nov 2009 22:24:18 GMT

Published at 16:17 (GMT) 05 Nov MXN is underperforming the region again with large banks selling the peso to balance positions. While it may look like a coincidence, Fin Min Carstens declarations on the fiscal reform should not be the cause for the sell off as it is saying what the market already knew. That Mexico was hit by more factors than the global recession, including the fall in oil production. The estimate on tax revenues gains as more than 1% of the GDP is optimistic but just

U.S. Forex Market Commentary

info@gcitrading.com (GCI) — Thu, 05 Nov 2009 22:16:07 GMT

EURO The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4810 level and was capped around the $1.4915 level. Data released in the U.S. today saw Q3 non-farm productivity increase to 9.5% from the revised prior reading of 6.9% while Q3 unit labour costs were off 5.2%, up from a revised -6.1%. Also, weekly initial jobless claims continued to move lower, printing at +512,000, down from a revised 532,000 with continuing jobless

USD mixed, jobless claims fall more than expected

info@easy-forex.com (Easy Forex) — Thu, 05 Nov 2009 18:20:32 GMT

USD : Lower, jobless claims fall, productivity soars, unit labor costs decline, stocks surge JPY: Lower, supported by a dip in risk appetite as equities decline in Asia EUR: Higher, ECB leaves interest rates unchanged, Trichet sees pick up in economic activity GBP: Higher, BOE expands its asset purchase plan by £25 bln, industrial and manufacturing output rise CAD and AUD: AAUD higher & CAD lower, hawkish comments from RBA Governor Stevens, deficit widens Overview USD traded mixed to lower

U.S. Update: After BOE and ECB

analyst@fxstreet.com (FXstreet.com Independent Analyst Team) — Thu, 05 Nov 2009 15:51:07 GMT

What happened After the so long awaited data, and usual spikes, both Euro and Gbp are barely above pre data levels against dollar, as any of both Central Bank had shock markets, keeping rates and policy accordingly to expectations. First, BOE said Thursday that the world economy has shown signs of recovery, with a number of emerging markets economies experiencing a strong rebound, but that financial conditions remain fragile. They kept rates unchanged and slowed the pace of bond purchases,

5/11/2009 - The Current Market Sentiment

mail@fx-recommends.com (FX Recommends) — Thu, 05 Nov 2009 14:26:12 GMT

The Fed has decided yesterday that in spite of the recent improvement of the economic conditions and the better than expected growth rate of the third quarter, the economy is still in need of all of its easing stimulating policy steps further for storing confidence and improving the labor market conditions which can suffer further next year expecting the unemployment rate to get over 10%. The Fed's worries about the employment and this halting recovery were widely expected and there was no a

Technical Major Currencies Midday Report

support@ecpulse.com (ecPulse.com) — Thu, 05 Nov 2009 14:06:27 GMT

EUR/USD The euro versus dollar pair managed to build its base on the support level mentioned this morning at 1.4815 and head to the upside, according to expectations. We maintain our morning expectations, where we await an expected bullish trend for the remainder of trades today, while paying attention to ECB interest rate decision at 12:45 GMT, which had caused volatile fluctuations on the pair. The trading range for today is among the key support at 1.4600 and the key resistance at 1.5065.

EUR/USD Flows - turning over

analysis@fxmarketalerts.com (FXMarketAlerts) — Thu, 05 Nov 2009 14:02:52 GMT

Published at 13:53 (GMT) 05 Nov After breaking the overnight high EUR/USD has again displayed signs of vertigo over 1.4900. The S&Ps are turning over, we expect this can dip further. PB