Forex Knowledge 13 JUNE 2014 currency Report.
The BOJ has kept interest rates unchanged and the size of the u.s. market will be a correction, which spreads to global markets. It is time to keep an eye on the commodities, especially oil.
The Dow (16734.19,-0.65%) has already lost almost all of the previous week's gains, but in the month of January, we do not have two consecutive down week so far. So the bulls would have to worry about until the 16600-300 breaks and next week turns out to be another down for the week. Dax (9938.70,-0.11%) correct too, but immediately the trendline support 9850 can come in aid of the Bulls. The second raise 10300-400 still on the cards, as long as it remains above the 9800-700.
The Nikkei (14878.00,-0.64%) and repair, the repair is extended to 14850 could go on for a while already significant support coming to the 14,700-650. Shanghai (2058.31, + 0.32%) has been trying to emerge as a weak way past 3 sessions, but it has to get before highs 2055-61.2055-61 range must be hard out to signal a good rally.
Nifty (7649.90, + 0.30%) and major uptrend is already partially discounted improved the consumer price index was released today after market hours. Now the big transfer will only break 7580 7700 differently. Keep an eye on 7580 7580 as now just a break below may signal a deeper correction.
COMMODITIES
Gold (1272.96) has risen since the last 6 sessions for the almost immediate protest near 1278 1280, while Silver (19.55) is also heading towards the importance of 19.66. You need to look at where the metals can break those levels or gets pushed back to the previous level. The overall long-term trend is down.
Nymex WTI (107.29) have increased in the next few weeks, breaking above 102.25 violence in Iraq gives a bullish sign threatens oil supplies. It will now target the 110 level in the short term.
Brent (112.81) has also risen quite to our desires. As I said, the prices of the contraction seems to have finally ended, and this can start a fresh bulls targeting the 115-117 in the near future. Overall, the oil market is bullish.
Copper (3.0255) has fallen targeting 3 2.90 in the coming weeks. 2.90-3.05 region in the region can still sometimes we choose it. Overall, the long-term trend is down.
FOREX
The dollar has faced some of the large companies, in particular, the attack on the pound. Perhaps now is the status of the risk-and thus confirms the major currencies.
EUR (1.3558) trying to find the strength to support the region, once again, that the 1.3500-3475 bullish reversal confirmed only above 1.3630, then 1.3680. The Bias is neutral.
Dollar-yen (101.78) is trading below 101.95-85 support area and will now be able to test the 101.40-20 support area before running the buying. 9 weeks long range 101-103 may continue for another few days. That
Euro-yen (137.99) trying to recover on the back of a somewhat tighter Euro but there is clearly a risk of testing the levels of 137.
Pound (1.6945) broke out in a very sharply above 1.6850 Markit reported faster growth in manufacturing in the UK in April and the BOE, the Director-General said that the interest rate hike may come faster than expected. This rise can achieve the 1.70-71 very soon.
Aussie (0.9412) has broken down before the last swing high, strengthen 0.9410 uptrend and a near 7-month high of testing and 0.9461 now. The Weekly close above 0.9409 would add to the bullish feeling.
No cue is from anywhere to any decisive move in the dollar-rupee (59.25), which uses another sideways session uptrend fully intact. We are still waiting for the next stage of the rally and 59.45 above confirms the significant support is still a 59.00
INTEREST RATES
US 5 (v) (1.70%), 10 (v) (2.60%) and a 30 Yr (3.41) have fallen. United States 10-5 Yr yield spread (0.90%) to extend its fall and can either stay ranged from 1.0 to 0.9 in the region or come off more of 0.87 in the next week.
German-US 2 Yr difference (-0.43%) has dropped even further, and may target-0.50% on a weekly basis from which it can recover. EUR (1.35570) grow to support close to the 1.3520 keeps well. The Euro may strengthen towards 1.36, which can increase the return on the price differences. German 10 Yr (1.39%) has fallen strangely but may move once again towards the 1.40% 1.3%.
The United States and Japan, 10 Yr yield differential (2.00%) came off of 2.0% as the dollar-yen (101.77) fell off sharply. The Japanese 10-5 Yr yield spread (0.43%) is dropped from the resistance, as expected, Japan 10 Yr (0.60%) remained stable.
10 Yr India (8.53%) declined slightly and may test of 8.5% before rising from there. A break below the 8.50% may push the 8.30-8.28% in the medium term.
The BOJ has kept interest rates unchanged and the size of the u.s. market will be a correction, which spreads to global markets. It is time to keep an eye on the commodities, especially oil.
The Dow (16734.19,-0.65%) has already lost almost all of the previous week's gains, but in the month of January, we do not have two consecutive down week so far. So the bulls would have to worry about until the 16600-300 breaks and next week turns out to be another down for the week. Dax (9938.70,-0.11%) correct too, but immediately the trendline support 9850 can come in aid of the Bulls. The second raise 10300-400 still on the cards, as long as it remains above the 9800-700.
The Nikkei (14878.00,-0.64%) and repair, the repair is extended to 14850 could go on for a while already significant support coming to the 14,700-650. Shanghai (2058.31, + 0.32%) has been trying to emerge as a weak way past 3 sessions, but it has to get before highs 2055-61.2055-61 range must be hard out to signal a good rally.
Nifty (7649.90, + 0.30%) and major uptrend is already partially discounted improved the consumer price index was released today after market hours. Now the big transfer will only break 7580 7700 differently. Keep an eye on 7580 7580 as now just a break below may signal a deeper correction.
COMMODITIES
Gold (1272.96) has risen since the last 6 sessions for the almost immediate protest near 1278 1280, while Silver (19.55) is also heading towards the importance of 19.66. You need to look at where the metals can break those levels or gets pushed back to the previous level. The overall long-term trend is down.
Nymex WTI (107.29) have increased in the next few weeks, breaking above 102.25 violence in Iraq gives a bullish sign threatens oil supplies. It will now target the 110 level in the short term.
Brent (112.81) has also risen quite to our desires. As I said, the prices of the contraction seems to have finally ended, and this can start a fresh bulls targeting the 115-117 in the near future. Overall, the oil market is bullish.
Copper (3.0255) has fallen targeting 3 2.90 in the coming weeks. 2.90-3.05 region in the region can still sometimes we choose it. Overall, the long-term trend is down.
FOREX
The dollar has faced some of the large companies, in particular, the attack on the pound. Perhaps now is the status of the risk-and thus confirms the major currencies.
EUR (1.3558) trying to find the strength to support the region, once again, that the 1.3500-3475 bullish reversal confirmed only above 1.3630, then 1.3680. The Bias is neutral.
Dollar-yen (101.78) is trading below 101.95-85 support area and will now be able to test the 101.40-20 support area before running the buying. 9 weeks long range 101-103 may continue for another few days. That
Euro-yen (137.99) trying to recover on the back of a somewhat tighter Euro but there is clearly a risk of testing the levels of 137.
Pound (1.6945) broke out in a very sharply above 1.6850 Markit reported faster growth in manufacturing in the UK in April and the BOE, the Director-General said that the interest rate hike may come faster than expected. This rise can achieve the 1.70-71 very soon.
Aussie (0.9412) has broken down before the last swing high, strengthen 0.9410 uptrend and a near 7-month high of testing and 0.9461 now. The Weekly close above 0.9409 would add to the bullish feeling.
No cue is from anywhere to any decisive move in the dollar-rupee (59.25), which uses another sideways session uptrend fully intact. We are still waiting for the next stage of the rally and 59.45 above confirms the significant support is still a 59.00
INTEREST RATES
US 5 (v) (1.70%), 10 (v) (2.60%) and a 30 Yr (3.41) have fallen. United States 10-5 Yr yield spread (0.90%) to extend its fall and can either stay ranged from 1.0 to 0.9 in the region or come off more of 0.87 in the next week.
German-US 2 Yr difference (-0.43%) has dropped even further, and may target-0.50% on a weekly basis from which it can recover. EUR (1.35570) grow to support close to the 1.3520 keeps well. The Euro may strengthen towards 1.36, which can increase the return on the price differences. German 10 Yr (1.39%) has fallen strangely but may move once again towards the 1.40% 1.3%.
The United States and Japan, 10 Yr yield differential (2.00%) came off of 2.0% as the dollar-yen (101.77) fell off sharply. The Japanese 10-5 Yr yield spread (0.43%) is dropped from the resistance, as expected, Japan 10 Yr (0.60%) remained stable.
10 Yr India (8.53%) declined slightly and may test of 8.5% before rising from there. A break below the 8.50% may push the 8.30-8.28% in the medium term.
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