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Archive for November, 2009

Forex Trading Discussion Points Daily Edition- 20:00 GMT- TRADING SCENARIO: Wednesday proved to be a surprisingly active session despite holidays in the U.S. and Canada. Bond markets were closed with the Fed observing the government holiday. Data from the U.K. were mixed with the latest employment statistics better than expected earlier. The quarterly BOE Inflation report illustrated again… More

(Chart courtesy of FX Solutions’ FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; 50-period simple moving average in light blue.)11/11/2009 USD/CHF Price action on USD/CHF, a daily chart of which is shown, has dropped to within just a few pips shy of the 15-month low (1.0030) that was hit just a couple of weeks ago. This occurs within the context of a clear and continuing accelerated downtrend that has been in place for almost a year now. A strong breakdown below key support at the 15-month low, which is essentially in the region of parity for the pair (1 U.S. dollar to 1 Swiss franc), should lead to further bearishness. Wi

HIGHLIGHTS: Japanese wholesale prices (Corporate Goods Prices) are due early Thursday. BOJ monetary policy remains on hold. Of greater interest may be Australian employment data with the RBA seen on the cusp of hiking rates again in December. The data are seen weaker. In Europe, Eurozone industrial production is seen strong again. In North America, U.S. weekly jobless claims are always closely followed. Weekly crude oil inventories will be released with a one-day delay due to the Veterans Day holiday. Natural gas inventories are due as well. The session will also see a $16bln 30-yr bond auction. Upcoming Top Tier Releases: Friday JA- Industrial Output EZ- GDP US- Trade, X-M Prices, U of Mich CA- Trade Monday EZ- HICP CA- Manufacturing Sales

Forexpros Daily Analysis Nov 11, 2009 Free webinar – An insider’s guide to ForexExpert: Richard ReganWhen: Tue, Nov 17, 2009, 17:00 ESTWatch an in depth presentation on the inner workings of the globalFOREX market. Richard explains what traps to avoid and how to positionyourself to take advantage of the moves in currencies.Click here to join the webinar.—The US Department of Labor will release the weekly Initial Jobless Claims report tomorrow (NOV 12).The report serves as a measure of the number of people who file forunemployment benefits for the first time during the given week, andgives an indication to the health of the job market, as increasesindicates that there are fewer peop

Key News The strength of the New Zealand dollar is not sustainable but at current levels may hinder a further narrowing of the current account deficit and so economic recovery, the central bank said on Wednesday. (Reuters) Geithner Says Strong Dollar Very Important to U.S. (Bloomberg) Editors Note: Yawn King Says BOE Still Has `Open Mind’ on Bond Purchases, Won’t End Stimulus (Bloomberg) Gold – a six thousand year-old bubble (Financial Times) Quotable In a world with multiple fiat moneys, the zero value of money equilibrium lurks for each of the fiat currencies, including gold. Admittedly, as regards gold, so far so good. Gold has positive value. It has had positive value for nigh-on 6000 years. That must ma

The lack of economic reports today is shifting the focus by U.S. equitytraders to the U.S. Dollar. The rise in the stock market

The U.S. Dollar hit a 15-month low against a basket ofcurrencies last night on the prospect the Fed will keep interest rates at lowlevels for a prolonged period of time.Excessive volatility hit the GBP USD early this morningfollowing the release of the Bank of Englands forecast for economic growth a

EURO, JAP YEN and EURO-YEN—————————Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at http://www.kshitij.com/fxthoughts/fxthoughts.shtml#registerOur comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below————————————————————-USD-CHF @ 1.0047/50…May achieve R: 1.0110 / 1.0150-70 / 1.0230 S: 1.00-0.9980 / 0.9888 / 0.9841Swiss has broken on the downside of the range (1.0060-0110) in which it has been trading for sometime as expected and is now moving down towards parity. If the current strength on its downmove continues, we might see a dip towards 0.9900-0.9850 in the coming days/weeks.

Wed Nov 11, 2009 6:28am EST* Dollar index hits 15-mth low, stung by U.S. rate view* Sterling slides after BoE comments on pound weakness* Australian dollar hits 15-mth high vs U.S. dollar(Releads, updates throughout)By Naomi TajitsuLONDON, Nov 11 (Reuters) – The dollar hit a 15-month low against a currency basket on Wednesday after Federal Reserve officials said any recovery in the U.S. economy would be erratic, bolstering the view that interest rates would stay low.Sterling fell broadly, stung after Bank of England Governor Mervyn King said weakness in the currency would help UK exporters, and aiding Britain’s recovery from recession.Despite its gains versus the pound, the dollar index hit 74.774, its lowest since August