- House Market Index Data Increases to 25, Best Level in Four and Half Years
- EURCHF moves sharply higher but comes off
- IMF aiming ot raise 500 billion
- GBPUSD between the 100 and 200 hour MA. Still looking for the break.
- Industral Production Slides, Capacity Utilization Goes Up, Highest Since June 2008
- Moody’s report Spain, Portugal, Italy and Spain to be in recession in 2012
- US TIC Flows Rise to $59.8B vs $40.0B Survey and Prior of $4.8B
- EURUSD takes out high by a pip and falls from there
- GBPUSD moves above 200 hour MA but lots of resistance above
- PPI lower than expected on headline but Core higher
- December PPI Falls to -0.1%, Core PPI Rises 0.3%
- Bobbys Corner-Open Market-January.18.2012
- EURUSD moves toward key trendline resistance
- Greek official says all options are being explored w/out debt swap talk
- Industrial Production and Capacity Utilization Rate due at 9:15am
Posted: 18 Jan 2012 07:00 AM PST
Posted: 18 Jan 2012 06:42 AM PST
Posted: 18 Jan 2012 06:38 AM PST
Posted: 18 Jan 2012 06:34 AM PST
Posted: 18 Jan 2012 06:15 AM PST
Industrial Production Price Index (MoM): Survey: 0.5% Actual: 0.4% Prior: -0.2% Revised: -0.3%
Capacity Utilization: Survey: 78.1% Actual: 78.1% Prior: 77.8%
Posted: 18 Jan 2012 06:09 AM PST
Posted: 18 Jan 2012 06:01 AM PST
Posted: 18 Jan 2012 05:55 AM PST
It is never good to have a skittish market, take out an extreme by a pip or two and fail. That is what happened with the EURUSD and the price moved from 1.2845 to 1.2803 in around 15-20 minutes. Support comes in at 1.2801 which is the 38.2% of the move up today but in skittish markets – anything can happen. So be aware of the risk from volatility and less liquid markets.
Posted: 18 Jan 2012 05:37 AM PST
The GBPUSD has moved above the 200 hour MA at the 1.5381 level but has run into a lot of resistance at the 1.5398-1.5407 levels. There has been a number of lows/highs at the area over the last few weeks of trading and is also where the 38.2% of the move down from the January 4th high comes in. The first test was quickly rejected with the price moving back toward the 200 hour MA level. The market has a choice to make now. Move lower off the level and break below the 200 hour MA or gather itself for a run up and through (or just stall). Key moment for the pair.
Posted: 18 Jan 2012 05:34 AM PST
The YoY headline PPI came in much lower at 4.8% VS 5.7% last month, but the Core YoY rose to 3% from 2.9%.
PPI has been running higher than the CPI which comes out later this week. The difference presumingly comes out of profits and/or from more efficiency. Some suggest that CPI is understated. In any case the market has continued the trend established in the European session with the EURUSD moving toward the highs.
Posted: 18 Jan 2012 05:32 AM PST
Producer Price Index (MoM): Survey: 0.1% Actual: -0.1% Prior: 0.3%
PPI Ex Food & Energy (MoM): Survey: 0.1% Actual: 0.3% Prior: 0.1%
Producer Price Index (YoY): Survey: 5.1% Actual: 4.8% Prior: 5.7%
PPI Ex Food & Energy (YoY): Survey: 2.8% Actual: 3.0% Prior: 2.9%
Posted: 18 Jan 2012 05:23 AM PST
The FX markets on a wild ride in overnight trading-as the Euro rose during the Asian session-as rumors of a possible deal with Greece led the single currency higher-only to be sold off after Fitch threatened to downgrade Italy by 2 notches. Then the euro picked up again after reports that the IMF may increase their their lending facilities.
The World Bank has slashed it’s global growth forecast. The recession and continued credit crisis in Europe threatens not only the euro region, but will hurt both the emerging markets (India-Mexico), and major markets also.
Oil and Silver are all higher at this time, Gold is flat.
Asian equity markets were higher-Europe is mixed-and US Futures are higher at this time.
HAVE A GREAT DAY & GOOD LUCK
Posted: 18 Jan 2012 05:22 AM PST
The low for 2011 in the EURUSD came in at the 1.2857. The trendline off the December high comes in at 1.2866. The market is moving toward the level as comments from Greece and such keep the shorts on edge. A move toward the level, however, should solicit selling /profit taking on the first test. On a break, however, there should be some stops triggered. Given the substantial trend lower since October, there is room to roam above if the shorts get scared and cover. So far, so good. The bears remain in charge. However, be aware and be prepared.
Posted: 18 Jan 2012 05:17 AM PST
Posted: 18 Jan 2012 05:11 AM PST
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