Forex

Crude Oil Effect On Forex Market

noreply@blogger.com (Prince_Ali) — Sat, 21 Aug 2010 07:56:00 -0700

Crude Oil All Time High

Global uncertainty has driven crude oil prices to historically high prices in the last few days, hitting the 90$ per barrel psychological barrier. The speculation of a war between the USA and Iran, a possible Turkish confrontation with Iraq are two of the main factors that are helping speculators to drive prices higher.

The most affected currencies for this situation have been the CAD and the JPY. This is mainly because Canada is one of the biggest crude exporters and refiners of the world, making the CAD go strong and higher. On the other hand, Japan is one of the biggest crude importers, so that has affected negatively the JPY.

Keep track of what's really happening around the black gold market. View our Futures Energy section. And if you want to see the effects on the currencies check our Rates and Charts section.

US Energy Information Administration (EIA)
US Department of Energy (DOE)

Today Gold And Silver Rates

noreply@blogger.com (Prince_Ali) — Sat, 21 Aug 2010 07:42:00 -0700

TODAY INTERNATIONAL GOLD AND SILVER RATES:

Gold Rate:
Latest gold rates are

Gold Silver:

Latest Silver rates are

Canadian Dollar Strengthens on Stocks & Oil Prices

noreply@blogger.com (Prince_Ali) — Sat, 21 Aug 2010 06:57:00 -0700

The Canadian dollar strengthened today as the gains of the global stocks and the rising oil prices spurred the demand for the currencies related to the economical growth.

The Standard & Poor’s 500 Index rose 1.6% and The MSCI World Index gained 1.4%. Crude oil, Canada’s key export, jumped as much as 1.9 percent to $76.63 per barrel on the New York Mercantile Exchange. The manufacturing sales grew 0.1% in June, following the 0.5 percent advance in the month earlier. The forecasts predicted the decline by 0.4%.

David Watt, senior currency strategist at the Royal Bank of Canada, described the situation:

We’ve got equities that are up and tensions that have been building through the global financial system have certainly eased. That’s given a fillip to all risk-sensitive securities

USD/CAD slumped from 1.0432 to 1.0315 today as of 16:31 GMT. EUR/USD fell from 1.3379 to 1.3282 after it rose to 1.3423.

10 Myths about Forex

noreply@blogger.com (Prince_Ali) — Sat, 21 Aug 2010 06:53:00 -0700

Forex trading is easy. Many people that want to start Forex trading believe that the Forex trading is easy — you just read a book or two and then you will be able to earn daily profits with just 2-3 hours trading daily. Others people think that they can buy a profitable strategy and it will make them rich in Forex. In reality that’s nothing else then a myth. Succeeding in Forex isn’t easier than mastering any other profession — it takes time, money and a lot of practice and hard work.
"I will make money in Forex, if I can trade stocks successfully." Success in stock market doesn’t imply that you will get success in Forex market too — there are many differences between trading stocks and the spot currencies. Firstly, Forex market requires a lot of hard work and dedication because Forex market is open for 24 hours a day. You cannot just sit in front of your computer for the whole day and night, so the best way is that you should find the most suitable time periods for trading. Secondly, “buy&hold„ strategy simply won’t work in Forex market. Thirdly, you don’t have that much information about currencies as you can get from the companies’ reports and statistics.
"can make profit whenever I want if Forex market is open 24 hours a day."Once again, you won’t be sitting in front of your PC for the whole day and night to be able to trade 24 hours. You’ll have to develop automated trading software to get the advantage of 24 hours a day working schedule.
"I can be a successful Forex trader just following someone else’s signals." Many new and beginning traders get burned by the blind signal-following. That’s like putting away the whole responsibility for your actions to someone else. That may sound cool, but in reality you end up with the huge losses. Learn to rely on your own knowledge and skills. Remember that there were no great signal-followers in any financial market.
No commission is to be paid in Forex market. You only have to pay the spread, but you don’t have to pay the commission. And what’s spread? It is the difference between the buy and sell price of the currency pair at the same moment.
Forex is a scam. Some skeptics, disappointed and non-motivated traders think that Forex is just some new fad to scam people for their hard earned money. Although there are many scams that are hiding behind the "brand" of Forex, that doesn’t mean that the Forex itself is a scam. There are many institutional Forex brokers, regulated Forex account managers and other solid companies in the market to whom you can trust.
"I need to exactly predict the market outcome to be profitable in Forex." There is no scientific method to know something in advance in the market with a 100% certainty. There would be no Forex market if you could know the exact currency rates beforehand. Trading is not the game of certainties; it’s a game of odds. One of the first things that new traders learn is to think in the terms of probabilities and risk-to-reward ratios.
"I need to use a very complex strategy to be successful in Forex." It’s a very popular myth, in which many on-line sellers would want you to believe. The main requirement to be successful in Forex is a self-discipline and money management. There are many traders that make consistent profits with rather simple and old strategies.
"I need to have a lot of starting capital to get profit in Forex." Big capital investment won’t help you in Forex. You don’t need a lot of money to diversify in currencies and you can’t move the currency rates with your trading orders . Actually you can trade with a very a little capital, because Forex trading is almost always leveraged with the broker’s money.
Forex is gambling because it’s completely random. Although there is no certainty in Forex (as in any financial market) it doesn’t mean that it’s completely random. And it’s certainly not a gambling, since your success in this market depends mostly on your skills and experience, not on your luck.

Iit’s better for you to learn distinguishing some stereotypical myths from the real thing. Don’t fall for the promises of getting some easy profits in Forex, but don’t be afraid of the market just because some non-motivated people think it’s not possible to earn there. Be rational — this quality will help you either if you are going to trade in Forex or not.

Today Dollars ($) Rate 20 Aug

noreply@blogger.com (Prince_Ali) — Sat, 21 Aug 2010 06:34:00 -0700

American Dollar USA($)

	USD	USD
Argentine Peso	3.99695	0.250191
Australian Dollar	1.12611	0.888013
Botswana Pula	6.86813	0.1456
Brazilian Real	1.76115	0.567811
British Pound	0.644402	1.55183
Brunei dollar	1.3536	0.738771
Bulgarian Lev	1.53867	0.649912
Canadian Dollar	1.04838	0.953853
Chilean Peso	506.268	0.00197524
Chinese Yuan	6.79018	0.147272
Colombian Peso	1816.61	0.000550476
Croatian Kuna	5.73307	0.174427
Danish Krone	5.86154	0.170604
Estonian Kroon	12.3095	0.0812381
Euro	0.78672	1.2711
Hong Kong Dollar	7.7746	0.128624
Hungarian Forint	219.81	0.00454938
Iceland Krona	120.565	0.00829428
Indian Rupee	46.6525	0.0214351
Israeli New Shekel	3.81125	0.262381
Japanese Yen	85.3906	0.0117109
Kazakhstani Tenge	147.17	0.00679486
Kuwaiti Dinar	0.28795	3.47283
Latvian Lat	0.557234	1.79458
Libyan Dinar	1.9324	0.517491
Lithuanian Litas	2.71639	0.368136
Malaysian Ringgit	3.14208	0.318261
Mauritius Rupee	30.8851	0.0323781
Mexican Peso	12.759	0.078376
Nepalese Rupee	74.5	0.0134228
New Zealand Dollar	1.42208	0.703195
Norwegian Kroner	6.26544	0.159606
Omani Rial	0.3845	2.60078
Pakistan Rupee	85.7143	0.0116667
Qatari Rial	3.64	0.274725
Romanian Leu	3.32547	0.300709
Russian Ruble	30.6191	0.0326594
Saudi Riyal	3.75	0.266667
Singapore Dollar	1.35898	0.735846
South African Rand	7.35772	0.135912
South Korean Won	1183.72	0.000844794
Sri Lanka Rupee	112.299	0.0089048
Swedish Krona	7.45504	0.134137
Swiss Franc	1.03462	0.966538
Taiwan Dollar	31.9537	0.0312953
Thai Baht	31.5231	0.0317228
Trinidad/Tobago Dollar	6.33675	0.15781
Turkish Lira	1.51695	0.659218
Venezuelan Bolivar	4.29448	0.232857

Dollar Edges Up Against EUR, Crude Falls with Stocks

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 22:10:00 -0700

Dollar Edges Up Against EUR, Crude Falls with Stocks

The Dollar took a break from its bearish run versus the EUR yesterday, but the long term trend could continue today. Driving yesterday's reversal were losses in U.S. equities and stronger manufacturing data from the U.S. Today's trading will be highlighted by key data releases from Europe and Britain, perhaps returning the EUR/USD to its bullish streak.

USD - USD Profits as Stocks Sell Off

The U.S. Dollar held small gains late Thursday as pessimism about the strength of the economic outlook put selling pressure on stocks and higher-yielding currencies. The currency had been lower earlier with stocks rising after the Federal Reserve Bank of Philadelphia's index on manufacturing jumped far more than forecast this month.

The U.S Dollar also traded higher against the Yen at 91.21, up from 90.84 yen Wednesday. The Dollar sank to a seven-month low against the Japanese currency on Wednesday. The Dollar's slide against the yen picked up pace after Japan's Finance Minister Hirohisa Fujii said a strong yen had advantages for the nation's economy.

The Dollar has been on the ropes in recent weeks, with the Dollar index losing 2.41% this month. Pressure has been tied in part to rising risk appetite, which has seen investors shun the greenback's safe-haven status in favor of equities and other assets.

Still analysts expect the U.S Dollar to resume its more traditional relationship with economic data, rising with positive economic news and falling when the outlook for the U.S. turns gloomier.

EUR - Euro Hit 1-year Peak vs. the U.S Dollar

The European currency held onto gains to hover near a 1-year highs against the U.S. Dollar on Friday, as equities and commodities advanced on expectations of economic recovery, putting pressure on the greenback. It advanced a 3rd day to $1.4716 and yesterday reached $1.4737, the strongest level since last September. The EUR has gained more than 2.5% this month, riding improved investor confidence and expectations that U.S. rates are likely to stay at rock bottom for some time.

The EUR also traded near a 4 month high versus the Pound before a German report today that may show the pace of decline in producer prices slowed, providing more evidence the 16-nation region's economy is emerging from the recession. The pound traded near its lowest since May as a report yesterday showed the jobless rate in the U.K. rose to the highest since 1995.

The 16-nation currency rose above 98 pence for the first time on Dec. 30. It advanced a third day to $1.4716 and yesterday reached $1.4737, the strongest level since Sept. 25, 2008. The Sterling is likely to weaken in the coming months as the government needs to rein in spending and its central bank is likely to retain an expansionary monetary policy, analysts said.

JPY - Yen Gains after BOJ's Shirakawa Comments

The Japanese yen had gained after Japan's new finance minister said currencies were not moving rapidly and that he opposed currency intervention as long as market moves were moderate. The Yen rose to the day's high against the Dollar pushing the U.S. currency down more than 0.2% on the day to around 90.60 yen. The pair traded around 90.90 yen before the comments.

The yen also got a boost after Bank of Japan (BOJ) Governor Masaaki Shirakawa said a stronger yen would push down prices in the near term but might support the economy in the longer run. The Japanese currency jumped versus the EUR, which trimmed earlier gains and slid to the day's trough of 133.54 yen, down slightly on the day.

OIL - Crude Oil Trades Lower as USD Firms

Crude Oil finished slightly lower after a volatile session Thursday, as the U.S Dollar firmed and traders digested upbeat economic news and a bigger-than-expected drop in U.S. stockpiles in the previous session. Crude earlier rose to a high of $73.16 a barrel and fell to a low of $70.40 a barrel.

On Wednesday, Oil rose more than 2% after the Energy Department reported a bigger-than-expected drop of 4.7 million barrels in U.S. stockpiles of the commodity in the week ended Sept. 11. Oil remains unable to top the upper end of its trading range at $73 a barrel without a new trigger, analysts said.

Oil has tracked equities markets closely in recent months as dealers look to stocks as a leading indicator of an economic recovery that could boost ailing energy demand. What happens to the Dollar, stock market and Gold are now driving the Oil market on a daily basis. A weaker Dollar can fuel purchases of Oil and other Dollar-denominated commodities, as they become relatively less expensive to non-Dollar holding investors.

Article Source - Dollar Edges Up Against EUR, Crude Falls with Stocks

US Dollar Rises on Safety Demand

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 22:09:00 -0700

US Dollar Rises on Safety Demand as Stocks Retreat in Asian Trading (Euro Open)

The US Dollar gained as stocks sold off in Asian trading on news that Japan’s third-largest consumer lender will suspend debt payments to its creditors, boosting demand for the safety-linked currency. German PPI, Euro Zone Current Account, and UK Public Borrowing figures are on tap ahead.

Key Overnight Developments

• Japan’s Third-Largest Consumer Lender to Suspend Debt Payments
• Hong Kong Monetary Authority Deputy Chief Says Mortgage Rates Too Low
• Euro, British Pound Decline as Stock Losses Boost the US Dollar

Critical Levels

The Euro lost as much as -0.4% against the US Dollar, testing below the 1.47 level in overnight trading. The British Pound was weaker still, slipping as much as -0.6% against the greenback.

Asia Session Highlights

Currency markets took their cues from stock exchanges in overnight trading, with the safety-linked US Dollar rising by as much as 0.3% on average against its major counterparts as stock exchanges in overnight trading. US equity index futures are trading firmly in negative territory ahead of the opening bell in Europe, suggesting risk-taking is likely to remain subdued and hinting at further gains for the greenback.

Asian exchanges declined on reports that Aiful Corp, Japan’s third-largest consumer lender, was going to suspend debt payments to its creditors citing fund-raising problems. Most worryingly, this may be a part of a larger problem: Japan’s government has capped the interest rates that consumer lenders can charge borrowers and mandated reimbursements of overcharged interest, meaning other major firms may follow Aiful’s lead.

Separately, Hong Kong Monetary Authority Deputy Chief Executive Y.K. Choi said that the city’s banks have lowered mortgage rates “to such an extent that they might not have given due regard to the reputation risk, interest rate risk and liquidity risk potentially associated with their pricing,” stoking fears that policymakers will push for higher borrowing costs and take the steam out of the rebound in asset prices.

Euro Session: What to Expect

German Producer Prices are set to show that the pace of contraction in wholesale prices slowed for the first time in 13 months in August, rising to -7.2% from a record-low -7.8% recorded in the previous month. The uptick likely reflects the recent rebound in energy prices – an index tracking energy costs from Bloomberg and UBS has rebounded over 54% since bottoming in February. While this foreshadows some moderation in deflationary pressure on consumer prices (the benchmark gauge of the price level) in the months ahead, the strength and durability of any rebound remains uncertain. Although economic growth has started to stabilize on the back of broad-based fiscal stimulus, low interest rates, and the inventory restocking cycle, unemployment rates have continued to press higher and will surely lead to anemic private demand once expansionary policy runs its course. Indeed, the International Energy Agency has forecast that global oil demand will remain firmly below its 2004-2008 average through the end of next year, working against sustainable gains in PPI growth.

The Euro Zone Current Account may post a surplus in six months in July following yesterday’s better-than-expected Trade Balance result for the same period as exports surged by 4.1%. The capital side of the equation also looks supportive: Euro area stock markets gained 9.8% while the currency advanced 0.1% on average against its major counterparts. Most interestingly, any improvement over June’s -0.3 billion euro outcome will amount to a break out of the downward trajectory that has guided the metric lower since the peak in June 2007. While it is early to be certain at the moment, this could be hinting at the formation of long-term fundamental support for a stronger Euro if it marks a sustained trend change in the regional bloc’s external position.

In the UK, the Public Sector Net Borrowing report is expected to show that the government deficit expanded by a whopping 17.6 billion pounds in August, the most since May. Public debt has swelled by a whopping 73.1 billion points so far this year and is expected to average 13% of the economy’s total output, the most among the G10 nations. To that effect, the data’s release may prove to weigh on the British Pound, stoking fears that Europe’s third-largest economy could face a cut of its sovereign credit rating.

Written by Ilya Spivak, Currency Analyst
Article Source - US Dollar Rises on Safety Demand as Stocks Retreat in Asian Trading (Euro Open)

US Dollar Forecast to Lose Further on Sentiment Extremes

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 10:41:00 -0700

US Dollar Forecast to Lose Further on Sentiment Extremes

FRIDAY, 18 SEPTEMBER 2009

EURUSD – Euro Forecast Remains Bullish on Sentiment Extremes
GBPUSD – British Pound Forecast to Lose Further
USDJPY – Japanese Yen Predicted to Rally vs US Dollar
USDCHF – Swiss Franc Trading Bias Strongly Bullish on Sentiment
USDCAD – Canadian Dollar Forecast to Gain Further

While the SSI is available once a week on DailyFX.com, you can receive SSI readings twice a day in DailyFX Plus Forex Intraday Trading Signals

Forex trading crowds remain very aggressively long US Dollars against most major counterparts, giving us contrarian signal to sell into US Dollar weakness. Indeed, an incredible 84% of traders are long the US currency versus the Swiss Franc, while a similarly substantial 74% have bought the Greenback against the Japanese Yen. Market sentiment very clearly remains at extremes, and we see few signs that the US Dollar will reverse through upcoming trade. Indeed, we will wait for signs of trading crowd capitulation before calling for a US dollar reversal.

Historical Charts of Speculative Forex Trading Positioning

EURUSD - The ratio of long to short positions in the EURUSD stands at -2.30 as nearly 70% of traders are short. Yesterday, the ratio was at -2.65 as 73% of open positions were short. In detail, long positions are 6.9% higher than yesterday and 13.7% stronger since last week. Short positions are 7.2% lower than yesterday and 4.0% stronger since last week. Open interest is 3.3% weaker than yesterday and 9.8% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.

GBPUSD - The ratio of long to short positions in the GBPUSD stands at 1.52 as nearly 60% of traders are long. Yesterday, the ratio was at 1.34 as 57% of open positions were long. In detail, long positions are 13.3% higher than yesterday and 47.3% stronger since last week. Short positions are 0.2% lower than yesterday and 38.5% weaker since last week. Open interest is 7.5% stronger than yesterday and 5.2% above its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.

USDJPY - The ratio of long to short positions in the USDJPY stands at 2.83 as nearly 74% of traders are long. Yesterday, the ratio was at 3.08 as 75% of open positions were long. In detail, long positions are 4.4% lower than yesterday and 16.8% weaker since last week. Short positions are 3.9% higher than yesterday and 29.9% stronger since last week. Open interest is 2.4% weaker than yesterday and 10.8% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

USDCHF - The ratio of long to short positions in the USDCHF stands at 5.39 as nearly 84% of traders are long. Yesterday, the ratio was at 4.93 as 83% of open positions were long. In detail, long positions are 6.5% lower than yesterday and 16.7% stronger since last week. Short positions are 14.4% lower than yesterday and 16.2% stronger since last week. Open interest is 7.8% weaker than yesterday and 27.9% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses.

USDCAD - The ratio of long to short positions in the USDCAD stands at 2.92 as nearly 74% of traders are long. Yesterday, the ratio was at 3.53 as 78% of open positions were long. In detail, long positions are 19.8% lower than yesterday and 5.1% stronger since last week. Short positions are 3.1% lower than yesterday and 4.0% weaker since last week. Open interest is 16.1% weaker than yesterday and 1.9% above its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.

GBPJPY - The ratio of long to short positions in the GBPJPY stands at 2.90 as nearly 74% of traders are long. Yesterday, the ratio was at 2.88 as 74% of open positions were long. In detail, long positions are 3.2% higher than yesterday and 19.4% stronger since last week. Short positions are 2.4% higher than yesterday and 15.0% weaker since last week. Open interest is 3.0% stronger than yesterday and 5.7% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.

Forex: EUR/USD: Euro stalls right above 1.4700

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 10:31:00 -0700

FXstreet.com (Barcelona) - The Euro is hovering at levels right above 1.4700, as rebound from intra-day low at 1.4647 has stalled at 1.4715, and according to Mohammed Isah, technical analyst at FXTechstrategy, corrective pullbacks are starting to shape up.

Isah observes the Euro heavily overbought on daily charts: "Its daily studies which are deeply overbought add to this view and if that plays out, declines could be seen towards the 1.4634 level, its Sept 11’09 high at first with a break and hold below there creating scope for further declines towards the 1.4446 level, its Aug 09 high."

On the upside, Isah points out to 1.4719 resistance area to open the path to 1.4875: "EUR must break and close above the 1.4719 level with a hold above there triggering further upside gains towards the 1.4875 level, its Sept 21’09 high ahead of the 1.5000 level, its psycho level and then the 1.5082 level, its Aug 10’08 high.

US Regional and State Unemployment Rates for Aug-STATS

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 10:30:00 -0700

US Regional and State Unemployment Rates for Aug-STATS

    WASHINGTON, (Dow Jones)--        Following are U.S. seasonally adjusted regional and state  unemployment rates:    p = preliminary; 1/ Metropolitan division. 2/ Metropolitan  statistical area.                              Aug     Jul     Jun     May     Apr     Mar     Aug  Region/State            2009    2009    2009    2009    2009    2009    2008  Alabama                 10.4    10.2    10.1    9.8     9.0     9.0     5.2  Alaska                  8.3     8.2     8.3     8.3     7.9     8.4     6.7  Arizona                 9.1     9.2     8.7     8.2     7.7     7.8     5.9  Arkansas                7.1     7.4     7.2     7.0     6.5     6.5     5.1  California              12.2    11.9    11.6    11.6    11.1    11.2    7.6  Los Angeles-Long  Beach-Glendale 1        12.3    11.9    11.2    11.6    10.9    11.3    8.0  Colorado                7.3     7.8     7.6     7.6     7.4     7.5     4.9  Connecticut             8.1     7.8     7.9     8.0     7.9     7.5     6.1  Delaware                8.1     8.1     8.4     8.1     7.4     7.6     5.1  District of Columbia    11.1    10.6    10.9    10.7    9.9     9.7     7.2  Florida                 10.7    10.8    10.7    10.3    9.7     9.8     6.5  Miami-Miami  Beach-Kendall 1/        10.8    11.2    10.7    9.9     8.2     8.1     6.0    Georgia                 10.2    10.3    10.1    9.6     9.2     9.2     6.4  Hawaii                  7.2     7.0     7.3     7.4     6.9     7.1     4.2  Idaho                   8.9     8.8     8.4     7.8     7.0     7.0     5.2  Illinois                10.0    10.4    10.3    10.1    9.4     9.0     6.7  Chicago-Naperville-  Joliet 1/               9.8     10.5    10.5    10.5    9.7     9.1     6.5  Indiana                 9.9     10.6    10.7    10.6    9.9     10.0    6.0  Iowa                    6.8     6.5     6.2     5.7     5.1     5.2     4.2  Kansas                  7.1     7.5     7.0     7.0     6.5     6.1     4.4  Kentucky                11.1    11.1    10.9    10.7    9.9     9.8     6.7  Louisiana               7.8     7.4     6.8     6.6     6.2     5.8     4.8  Maine                   8.6     8.5     8.6     8.3     7.9     8.1     5.4    Maryland                7.2     7.2     7.2     7.2     6.8     6.9     4.5  Massachusetts           9.1     8.8     8.6     8.2     8.0     7.7     5.4  Michigan                15.2    15.0    15.2    14.1    12.9    12.6    8.6  Detroit-Warren-  Livonia 2/              17.3    16.4    16.3    15.3    14.4    13.3    8.8  Minnesota               8.0     8.1     8.4     8.1     8.0     8.2     5.4  Mississippi             9.5     9.7     9.1     9.7     9.1     9.4     7.3  Missouri                9.5     9.3     9.3     9.0     8.1     8.7     6.2  Montana                 6.6     6.7     6.4     6.3     6.0     6.1     4.6  Nebraska                5.0     5.0     5.0     4.8     4.5     4.7     3.3  Nevada                  13.2    12.5    11.9    11.2    10.6    10.4    7.0  New Hampshire           6.9     6.8     6.8     6.5     6.3     6.2     3.9    New Jersey              9.7     9.3     9.2     8.8     8.4     8.3     5.7  New Mexico              7.5     7.0     6.8     6.5     5.8     5.9     4.3  New York                9.0     8.6     8.7     8.2     7.7     7.8     5.7  New York City           10.3    9.5     9.4     8.9     8.0     8.1     5.9  North Carolina          10.8    10.9    11.0    11.1    10.7    10.8    6.6  North Dakota            4.3     4.2     4.2     4.3     4.1     4.2     3.3  Ohio                    10.8    11.2    11.1    10.8    10.2    9.7     6.7  Cleveland-Elyria-  Mentor 2/               9.2     9.3     9.5     10.1    9.2     8.4     6.6  Oklahoma                6.8     6.6     6.4     6.4     6.2     5.9     3.9  Oregon                  12.2    11.8    12.0    12.2    11.8    11.9    6.5  Pennsylvania            8.6     8.5     8.4     8.3     7.8     7.8     5.5  Rhode Island            12.8    12.7    12.4    12.1    11.1    10.6    8.3    South Carolina          11.5    11.7    12.1    12.0    11.4    11.4    7.3  South Dakota            4.9     4.9     5.0     5.0     4.8     4.9     3.1  Tennessee               10.8    10.7    10.8    10.7    9.9     9.6     6.6  Texas                   8.0     7.9     7.5     7.1     6.6     6.7     5.0  Utah                    6.0     6.0     5.7     5.4     5.2     5.2     3.4  Vermont                 6.8     6.8     7.3     7.4     7.3     7.2     4.7  Virginia                6.5     6.9     7.1     7.1     6.8     6.8     4.1  Washington              9.2     8.9     9.2     9.1     9.0     9.1     5.4  Seattle-Bellevue-  Everett 1/              9.0     8.8     8.8     8.1     7.8     8.0     4.7  West Virginia           9.0     8.9     9.1     8.4     7.7     6.8     4.2  Wisconsin               8.8     9.0     9.0     8.9     8.6     8.5     4.7  Wyoming                 6.6     6.5     5.9     5.0     4.5     4.5     3.4    Puerto Rico             15.1    15.5    14.5    14.4    15.4    15.0    12.0    NOTE:  Data refer to place of residence.  Data for Puerto Rico are  derived from a monthly household survey similar to the Current Population  Survey. Area definitions are based on Office of Management and Budget  Bulletin No. 06-01, dated December 5, 2005, and are available at  http://www.bls.gov/lau/lausmsa.htm  and in the May issue of Employment  and Earnings. Estimates for the current year are subject to revision  early in the following calendar year.  Data have been revised to incorporate new estimation methods and updated  Census-2000 population controls.

EUR/GBP establishes intraday high at 0.9039

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 10:30:00 -0700

FXstreet.com (Barcelona) - EUR has gained over 50 pips against GBP, recording intra day high at 0.9039. RSI on the 60 minutes chart rings an alarm bell of overbought condition as that could be a first sign of reversal.

Support are seem at 0.9000 ,0.8970 and 0.8935, while resistances are seen at 0.9055, 0.9080 and 0.9010.

GBP/USD keeps sliding in the early N.Y session, establishing intra day low at 1.6262. RSI on the 60 minutes char moves down into the oversold condition.

FILL FILL Brazil's Central Bank Buys Dollars At BRL1.8042

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 10:29:00 -0700

FILL FILL Brazil's Central Bank Buys Dollars At BRL1.8042

RIO DE JANEIRO (Dow Jones)--The Brazilian Central Bank bought U.S. dollars at a snap auction Friday for 1.8042 reals to the dollar, the bank said.

The bank did not reveal the volume of dollars purchased.

The central bank has intervened in currency markets in recent days to prop up the dollar and limit a recent surge in the real amid heavy foreign-investment inflows.

-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085; jeff.fick@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=w3NyrswbqdXv4L0EZl0jcg%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

U.S. markets rise at the opening, Dollar trims gains

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 10:27:00 -0700

U.S. markets rise at the opening, Dollar trims gains

Fri, Sep 18 2009, 13:45 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - U.S. markets are going through gains on early Friday's session in absence of key macroeconomic data. Euro and Pound are picking up further, trimming losses from early European session.

Dow Jones Industrials Index rises 0.40%, while the Nasdaq Index adds 0.42% and the S&P Index trades 0.% above its opening level in the first minutes of trading.

Palm shares dropped 0.5% after it was known that the launch of the company's latest device will not put the company into gains for the recent quarter. Competitors, such as Apple and Research In Motion went up. Unifi climbed 7% after the company revised higher its quarterly earnings expectations.

Dollar trims Gains

EUR/USD rebound on intra-day low at 1.4647 has extended on early U.S. session to levels above 1.4700 as the Euro has reached European session high at 1.4730 and trades at short distance to September 17 high at 1.4767.

GBP/USD decline from Sept 17 high at 1.6565 has reached support at 1.6300 during European session, and the Pound has bounced to levels around 1.6375, although, at the moment of writing, the Pound trades below 1.6350.

USD/JPY bounced from 91.00 support level on early European session but momentum was not strong enough to break above 1.4740 and the pair has stalled in am area from 91.20 to 91.40.

EUR/USD (Sep 18 at 17:23 GMT)

1.4716/17 (-0.19%)

H 1.4744 L 1.4645

S3	S2	S1	R1	R2	R3
1.4633	1.4670	1.4706	1.4720	1.4757	1.4794

[?]Trend Index	[?]OB/OS Index
Neutral	Neutral
Data updated on Sep 18 at 17:20 (15-minute timeframe)

Forex: EUR/USD: Euro dips below 1.4700 as U.S. markets dip

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 10:26:00 -0700

Forex: EUR/USD: Euro dips below 1.4700 as U.S. markets dip

Fri, Sep 18 2009, 14:32 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - The Euro has weakened somewhat on early U.S session, as U.S. stocks approach negative levels, and the pair has breached 1.4700 level to hit 1.4680.

Initial support, below 1.4700, remains at 1.4640 (Sept 16 low) and below here, 1.4625. and 1.4560 (Sept 3 low). On the upside, resistance levels, above 1.4700, lie at 1.4770 /Sept 17 high) and above here, 1.4800 and 1.4825 (Sept 23'08 high).

On the downside, Mohammed Isah, technical analyst at FXTechstrategy, warns about corrective pullbacks to 1.4634: "Corrective pullbacks could be shaping up. Its daily studies which are deeply overbought add to this view and if that plays out, declines could be seen towards the 1.4634 level, its Sept 11’09 high at first with a break and hold below there creating scope for further declines towards the 1.4446 level, its Aug 09 high."

EUR/USD

EUR/USD (Sep 18 at 17:23 GMT)

1.4716/17 (-0.19%)

H 1.4744 L 1.4645

S3	S2	S1	R1	R2	R3
1.4633	1.4670	1.4706	1.4720	1.4757	1.4794

[?]Trend Index	[?]OB/OS Index
Neutral	Neutral
Data updated on Sep 18 at 17:20 (15-minute timeframe)

EURO: SETTING THE LONG TERM TREND?

noreply@blogger.com (Prince_Ali) — Fri, 18 Sep 2009 09:30:00 -0700

EURO: SETTING THE LONG TERM TREND?

EURO: Setting The Long Term Trend?

by Angelo Airaghi [Guest Analyst]

9/15/2009

As the European economy is moving out of recession, the Euro currency is at key levels against the U.S. dollar. A movement above the next resistance could set the trend for the next weeks/months.

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U.S.: consumer spending to increase?

More time is needed to see some tangible results, but the economy is on the move again in the United States. Last week, the Beige Book confirmed that the economic activity is stabilizing, as the job market and the manufacturing sectors are registering some minor upticks. In reality, the average duration of unemployment is at historical highs and jobless rate for young people is almost 26%. Public offices are laying-off employees, since some states are registering declines in tax revenues. Initial jobless claims fell to 550,000 in the week of September 5th, versus the expected down move of 570,000. Nevertheless, they remain near the high of the year. Housing, at the contrary, appears to be finally out the woods. Inventories are declining, while building permits are increasing.

As a result, prices should start to climb again over the medium term, as well as new investments, since consumer spending is expected to improve. In July, the U.S. trade balance widened to USD -32 billion from USD 27.5 billion, supported by the strong move of imports, which rose 4.7%, while exports increased 2.2%. All major categories reported some gains, except food and beverages, probably anticipating consumer spending to return positive in the near future. In effect, retail sales were well supported in August. Nonetheless, gains might have been inspired by the cash-for-clunkers program. Automakers are meeting strong requests and the industrial production can rise shortly.

Europe: domestic demand improving

Good domestic and foreign demands are helping the German economy out of recession. In July, exports rose 2.3% month-on-month after having increased 6.10% in June, while imports remained flat compared to the rise of almost 6.0% registered the previous month. The trade surplus is now at Euro 13.9 billion from Euro 12.1 billion. Both manufacturing and services are beginning the trend again. For the fifth straight month, German factory orders rose 3.5% (2.50% expected) in July from June’s 3.8%. Nevertheless, orders are still 19.8% below the level of one year ago, but domestic demand increased 10.3% in July. In its most recent monthly bulletin, the European Central Bank (ECB) confirmed that growth should stabilize in the third quarter, although it could be uneven among the European states. The ECB is expected to keep rates steady for the near future, as inflation remains near the lows and the economic growth is just beginning the resume its uptrend. In fact, industrial production remains weak, albeit improving. In July, it fell 0.3% month-on-month and is down almost 16.0% on an annual basis.

EUR/USD: Resistance holding for now.

EUR/USD: The euro is still testing key levels against the U.S. dollar. A move above 1.4715 would target 1.48, 1.50. A breakout failure would take the price back to 1.45, 1.44.

GBP/USD: The market rebounded from the lower Bollinger bands and is finding resistance at 1.67. It corresponds to the higher Bollinger bands. A move above 1.6840 would target 1.69/1.70. A breakout failure would take the price again to 1.65, 1.64.

USD/JPY: The market is meeting a good support at current levels. Nevertheless, a move below 89.70 would target 89.00. A swing above 92.10 would target 93.00.

USD/CAD: The market has found a strong resistance at 1.11. It could correct to 1.0830, eventually 1.0630, if it moves below 1.0695. A breakout failure would take the price to 1.0940.

Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media.