Forex Trades & Talk
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A look at current Events and Issues
Yesterdays News and Events:
The US Leading indicators was down 0.2% in August, less then expected and the market took it as a sign to buy back into the Dollar, especially Cable had a swift move falling through strong support at 1.8000. Weekly Jobless claims were up at 437k, while it was up less than expected, the previous week was revised up strongly to 424k. Again the market took this on the positive side, hoping that coming weeks will see a strong slowdown of these figures.
FED Governor Olson yesterday gave another hawkish speech, saying that funding and balance sheet management of banks hurt by Katrina was not causing any problems.
Todays Key Issues:
Its a day without any major economic data release, the market is likely to focus on two issues: Hurricane Rita and the USs way of reacting to yet another harmful storm. So far it looks like evacuations are running smoothly, main concern is how bad the oil industry will be impacted.
G7 meeting is starting in Washington today. Topics will include worries of climbing Oil prices, Forex traders will be interested how G7 finance ministers comment Chinas recent currency revaluation, which is really seen as a first small step only, a bigger adjustment is expected in years to come in order to even out global trade imbalances.
The Risk Today:
EURUSD traded at 1.2115 this morning, making for a triple-bottom this week. It is very seldom that the market does not break on the third try, so our expectations this morning are for further Dollar strength, 1.2065 could easily be reached, target is the 1.2000 area, minor resistance 1.2135 and key at 1.2070.
Daily GBPUSD chart: Having traded at 1.7845 this morning, we are near a major target. Intraday we may advance to 1.7820 or as low as 1.7775, but it needs a weekly close below 1.7850 for a direct continuation towards 1.73. If not, we should first see a pullback to old 1.8000 key for a better sell. -
Also fxdirekt das es vielleicht ein Terroranschlag in Manchester den Ausschlag in EUR/USD bis 2170 gegeben hat.
fxdirekt.de/6.2.kolumnen.htm
Merkwürdige Nachrichten-Daten hat fxdirekt
Das mit den Chinesen müssten die doch auch wissen?
Gruss -
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Vielleicht hilft ja ein kleiner Chat gegen das Einschlafen:
freejavachat.com/chat.php?chan=CandleFxTraders
Gruß
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