Forex Knowledge 2 JUNE 2014 currency Report.
The RBI policy tomorrow to keep the market in a State of anxiety than it would be in the first post of a new relationship between the Government and the RBI. This year, the fastest in the world, the increased Chinese Purchasing Manager's index has kept Asia-Pac atmosphere on the green.
The bullish momentum and the lack of a domestic variety of Dow (16717.17, + 0.11%), in spite of more ups and downs to keep the bulls a little worried. Keep an eye on the downside and 16800 16400-900 explosive breakout of different upside down. Dax (9943.27, 0,04%) is to take a break near the small resistance 9985-10050 but a significant uptrend appears to be strong enough to Push 10300-400.
The Nikkei (14899.91, + 1.83%) is shooting up 15200-300 or even higher, as expected, at the end of a short term correction. Weakness can only restore a break below 14570, looking for a slim chance. Shanghai (2039.21,-0.07%) faced great selling pressure near the 2060-2080-1990 of 65 as expected, but the broader the sideways move may continue for some time a base-building process.
When a freak low on Friday, 7229.95-7118 nifty (0.08%) makes the daily chart ready to bounce the 7310 and the 7360-65. That a low level of qualifications of 7118 remains questionable, but this downtrend all the demonstrations may face selling pressure at higher levels. Keep an eye on the 7200-7190 and 7080 in large supports.
COMMODITIES
Metals are weaker lower US GDP and stronger equities. The oil will remain stable and see some near term correction even if the copper is trying to grow at a slower pace.
(1248.41) in gold and silver (18.789) contracted stable stocks and lower US GDP data, breaking: o, as expected. Gold is likely to see support levels around 1230-1225, if it continues to belong to such a pace. Silver, on the other hand, can test the support of almost 18.5 where it can Bounce back from a 19-19.5. In the short term remains bearish.
Copper (3.1425) saw a slightly better Chinese PMI rise and is likely to rise towards 3.20-3, 25, but with less momentum.
Brent (109.41) during the fall but the repair status to Test support near 109.39. There is a fair chance of 109 108.5 to fall before resuming its ascent towards a 110.5-112.
Nymex WTI (102.71) has come off a bit after testing resistance close to 104.5. Do not break the 104.5 can either see a correction toward the inside of the 98-98 or ranged from 104.5. In the short term, however, the rising, keep our earlier turnover in 105 105.22 upside down.
FOREX
The dollar has been gaining against the yen, and the pound but falling against the euro. Mixed signals. The rupee may be based on speculations in the RBI policy tomorrow.
EUR (1.3628) has tried to make a bullish pattern like the Morning Star, and trying to recover from 1.3700-30. But weakness remains intact beneath the 1.3800 and any bounce is supposed to encounter selling pressure at higher levels.
Dollar-yen (102.05) is close to breaking above 102.15 103.00 102.75 signal rise toward the next resistance, even at 103.50 us. Euro-yen (139.04), has recovered from major support at 138 and can rally 139.40 or even 140, if the Euro continues to strengthen against the dollar. 136-138 (135) below the entrance door opens.
The weakness and the rising pace of pound (1.6744) is pronounced, and now the dip 1.6670-20 cannot be ruled out. But it remains to be seen if the last hope the Bulls 1.66 remains protected or not.
Aussie (0.9263), contrary to expectations, has not been tested 0.94 levels and thus is still stuck in the region now 0.92 0.94. Just break these 0.92 0.94 can produce any meaningful moves.
Dollar-rupee (59.10) is corrected exactly 50% of the entire rally 58.33 59.20 59.20 and now seems ready to grow above 59.50-75.
INTEREST RATES
Much of the Central Bank meetings this week. Two of the most important is an RBI meeting tomorrow (June 3) and the ECB meeting on Thursday, June 5.
The RBI can wait and watch mode, the new Government's first budget is yet to come, and further evidence is needed, that inflation is under control. Maybe we will get more notice on Gold imports. Remember, the RBI has grown over the performance of hedging limit to importers at 25% to 50% in the last week.
Draghi had said that he could do something about the interest/QE at this time. The return is small, very small through the line and threatening to continue. They might also not be. But note the Spain-Germany 10 Yr spread (1.49%) To test the long-term uptrend support line coming in 2007. If the return is to move at all (no one wants to have them), they are now, by the way, we could see a much lower going forward.
The fall in the United States in the 10 Yr (2.47%) less than 2.50% last week was not good news. Despite the hopes of the U.s. gross domestic product will rise again in Q2, it can take a lot of work now in order to strengthen again. Wait for the Japanese 10 Yr (0.58%) a trend towards lower in the coming weeks/months, 0.50%. Now, the potential for growth.
The RBI policy tomorrow to keep the market in a State of anxiety than it would be in the first post of a new relationship between the Government and the RBI. This year, the fastest in the world, the increased Chinese Purchasing Manager's index has kept Asia-Pac atmosphere on the green.
The bullish momentum and the lack of a domestic variety of Dow (16717.17, + 0.11%), in spite of more ups and downs to keep the bulls a little worried. Keep an eye on the downside and 16800 16400-900 explosive breakout of different upside down. Dax (9943.27, 0,04%) is to take a break near the small resistance 9985-10050 but a significant uptrend appears to be strong enough to Push 10300-400.
The Nikkei (14899.91, + 1.83%) is shooting up 15200-300 or even higher, as expected, at the end of a short term correction. Weakness can only restore a break below 14570, looking for a slim chance. Shanghai (2039.21,-0.07%) faced great selling pressure near the 2060-2080-1990 of 65 as expected, but the broader the sideways move may continue for some time a base-building process.
When a freak low on Friday, 7229.95-7118 nifty (0.08%) makes the daily chart ready to bounce the 7310 and the 7360-65. That a low level of qualifications of 7118 remains questionable, but this downtrend all the demonstrations may face selling pressure at higher levels. Keep an eye on the 7200-7190 and 7080 in large supports.
COMMODITIES
Metals are weaker lower US GDP and stronger equities. The oil will remain stable and see some near term correction even if the copper is trying to grow at a slower pace.
(1248.41) in gold and silver (18.789) contracted stable stocks and lower US GDP data, breaking: o, as expected. Gold is likely to see support levels around 1230-1225, if it continues to belong to such a pace. Silver, on the other hand, can test the support of almost 18.5 where it can Bounce back from a 19-19.5. In the short term remains bearish.
Copper (3.1425) saw a slightly better Chinese PMI rise and is likely to rise towards 3.20-3, 25, but with less momentum.
Brent (109.41) during the fall but the repair status to Test support near 109.39. There is a fair chance of 109 108.5 to fall before resuming its ascent towards a 110.5-112.
Nymex WTI (102.71) has come off a bit after testing resistance close to 104.5. Do not break the 104.5 can either see a correction toward the inside of the 98-98 or ranged from 104.5. In the short term, however, the rising, keep our earlier turnover in 105 105.22 upside down.
FOREX
The dollar has been gaining against the yen, and the pound but falling against the euro. Mixed signals. The rupee may be based on speculations in the RBI policy tomorrow.
EUR (1.3628) has tried to make a bullish pattern like the Morning Star, and trying to recover from 1.3700-30. But weakness remains intact beneath the 1.3800 and any bounce is supposed to encounter selling pressure at higher levels.
Dollar-yen (102.05) is close to breaking above 102.15 103.00 102.75 signal rise toward the next resistance, even at 103.50 us. Euro-yen (139.04), has recovered from major support at 138 and can rally 139.40 or even 140, if the Euro continues to strengthen against the dollar. 136-138 (135) below the entrance door opens.
The weakness and the rising pace of pound (1.6744) is pronounced, and now the dip 1.6670-20 cannot be ruled out. But it remains to be seen if the last hope the Bulls 1.66 remains protected or not.
Aussie (0.9263), contrary to expectations, has not been tested 0.94 levels and thus is still stuck in the region now 0.92 0.94. Just break these 0.92 0.94 can produce any meaningful moves.
Dollar-rupee (59.10) is corrected exactly 50% of the entire rally 58.33 59.20 59.20 and now seems ready to grow above 59.50-75.
INTEREST RATES
Much of the Central Bank meetings this week. Two of the most important is an RBI meeting tomorrow (June 3) and the ECB meeting on Thursday, June 5.
The RBI can wait and watch mode, the new Government's first budget is yet to come, and further evidence is needed, that inflation is under control. Maybe we will get more notice on Gold imports. Remember, the RBI has grown over the performance of hedging limit to importers at 25% to 50% in the last week.
Draghi had said that he could do something about the interest/QE at this time. The return is small, very small through the line and threatening to continue. They might also not be. But note the Spain-Germany 10 Yr spread (1.49%) To test the long-term uptrend support line coming in 2007. If the return is to move at all (no one wants to have them), they are now, by the way, we could see a much lower going forward.
The fall in the United States in the 10 Yr (2.47%) less than 2.50% last week was not good news. Despite the hopes of the U.s. gross domestic product will rise again in Q2, it can take a lot of work now in order to strengthen again. Wait for the Japanese 10 Yr (0.58%) a trend towards lower in the coming weeks/months, 0.50%. Now, the potential for growth.
No comments:
Post a Comment