USD Mixed Following Upbeat Data
by Korman Tam
8/25/2008 3:12:00 PM
The greenback was mixed at the start of a holiday-shortened week, with the UK market closed in observance of the summer bank holiday today - relinquishing earlier session gains above the 110-level against the yen and easing from the 1.47-handle versus the euro. The US economic data released this morning saw a higher than expected increase in July existing home sales, which reversed the 2.6% decline in June, increasing by 3.1% to 5.0 million units.
Traders will also digest several key reports slated for release on Tuesday, including the S&P/Case-Shiller home price index, the Conference Board's August consumer confidence survey, July new home sales and the Richmond Fed manufacturing survey. The June Case-Shiller 20mm home price index is seen declining by 0.8% from -0.9%, while the 20-yy is expected to decline by 16.2% from a 15.8% fall previously. The Conference Board's August consumer confidence survey is seen improving to 53.0, up from 51.9 in July. Meanwhile, new home sales for July are expected to remain steady, unchanged from June at 530k units.
Tuesday, August 26, 2008
Friday, August 22, 2008
BUY GBPJPY @ 203.70
GBPJPY
LONG position at 203.70
STOP LOSS below 203..20 (- 50 pips).
THE TARGETS are 204.20 / 204.60 / 205.60
OP, SL & TP at your own risks
LONG position at 203.70
STOP LOSS below 203..20 (- 50 pips).
THE TARGETS are 204.20 / 204.60 / 205.60
OP, SL & TP at your own risks
Forex News
Today the focus will be on Fed Chairman Speach @ 10.00 pm MYT
Traders will be looking at the Fannie & Freddie issue.
Traders will be looking at the Fannie & Freddie issue.
Forex News and Currencies
Forex News - How The Worlds News Effects Currencies
Author: Corbin Newlyn
Either you are simply starting in Forex or have a expertise in it, but it's very important you stay on top with all the Forex news happening in the industry. Staying intact with what happens around the world within your industry can be really addictive at times. Moreover with a globalized world it seems that something happens somewhere every moment of the time.
Financial News
Here we are listing some of latest news that has happened in and around the forex industry and will impact your business as well in some ways. Remember that Foreign exchange currencies are always paired so you will need to receive relevant news about the comparison of two different currencies or commodities. Some examples of relevant news that would have an impact on various currencies around the globe would be;
-A recent story reported that retail traders had just tipped to a net short positioning on the same day that the British pound gained a 200 point plus rally.
-Forex traders watch the U.S. housing slump very carefully, gauging the market for mortgage futures.
-When the U.S. Fed made its recent rate cut, one Forex news service reported that expectations for the U.S. Dollar were "falling like a rock."
-Recession fears in the United States may drive the dollar even lower than it already is. (In Forex trading, the fact that the dollar drops is not considered negative, as long as the trader leverages the drop when trading for higher priced, more valuable currencies around the glove.
Political News
Most people are under the wrong impression that currency and finance news are the only things that interests any forex trade, yet political news is very important as well as they can give you hint of the political movement of different nations and their where their country is headed. You need to make sure that you follow the trend that goes throughout the world.
Currency and financial news are not the only news stories of interest to Forex investors and traders. Forex traders are also interested in political news that can have an impact on a country's currency.
-Tragic events like the assassination of a political leader can affect currency futures in the country where the event occurs and can have a ripple effect in surrounding areas; for example, the assassination of Benazir Bhutto in Pakistan.
-Natural disasters like an earthquake, hurricane, or typhoon can consume a great deal of a country's resources; therefore, Forex traders watch news of such disasters.
-Political events, like the U.S. presidential election cycle, has significant effects on currency valuation; therefore, Forex news contains updates on presidential candidates, primary elections, and general elections.
News Analysis
Forex news services add value to the news stories they provide by analyzing current events and predicting how they will affect the exchange rates of various currencies around the globe.
Some popular sources for Forex research and analysis are: Daily FX, Rabobank Technical FX Daily, Scotia FX, TRL, Mizuho Corporate Bank, CIBC World Markets, BHF Bank, and Mellon Foreign Exchange.
Article Source: http://www.articlesbase.com/currency-trading-articles/forex-news-how-the-worlds-news-effects-currencies-418984.html
About the Author:
Listen to Corbin Newlyn as he shares his insights as an expert author and an avid writer in the field of finance and investment. If you would like to learn more go to Forex Signal Software advice and at Real Time Forex Chart tips.
Author: Corbin Newlyn
Either you are simply starting in Forex or have a expertise in it, but it's very important you stay on top with all the Forex news happening in the industry. Staying intact with what happens around the world within your industry can be really addictive at times. Moreover with a globalized world it seems that something happens somewhere every moment of the time.
Financial News
Here we are listing some of latest news that has happened in and around the forex industry and will impact your business as well in some ways. Remember that Foreign exchange currencies are always paired so you will need to receive relevant news about the comparison of two different currencies or commodities. Some examples of relevant news that would have an impact on various currencies around the globe would be;
-A recent story reported that retail traders had just tipped to a net short positioning on the same day that the British pound gained a 200 point plus rally.
-Forex traders watch the U.S. housing slump very carefully, gauging the market for mortgage futures.
-When the U.S. Fed made its recent rate cut, one Forex news service reported that expectations for the U.S. Dollar were "falling like a rock."
-Recession fears in the United States may drive the dollar even lower than it already is. (In Forex trading, the fact that the dollar drops is not considered negative, as long as the trader leverages the drop when trading for higher priced, more valuable currencies around the glove.
Political News
Most people are under the wrong impression that currency and finance news are the only things that interests any forex trade, yet political news is very important as well as they can give you hint of the political movement of different nations and their where their country is headed. You need to make sure that you follow the trend that goes throughout the world.
Currency and financial news are not the only news stories of interest to Forex investors and traders. Forex traders are also interested in political news that can have an impact on a country's currency.
-Tragic events like the assassination of a political leader can affect currency futures in the country where the event occurs and can have a ripple effect in surrounding areas; for example, the assassination of Benazir Bhutto in Pakistan.
-Natural disasters like an earthquake, hurricane, or typhoon can consume a great deal of a country's resources; therefore, Forex traders watch news of such disasters.
-Political events, like the U.S. presidential election cycle, has significant effects on currency valuation; therefore, Forex news contains updates on presidential candidates, primary elections, and general elections.
News Analysis
Forex news services add value to the news stories they provide by analyzing current events and predicting how they will affect the exchange rates of various currencies around the globe.
Some popular sources for Forex research and analysis are: Daily FX, Rabobank Technical FX Daily, Scotia FX, TRL, Mizuho Corporate Bank, CIBC World Markets, BHF Bank, and Mellon Foreign Exchange.
Article Source: http://www.articlesbase.com/currency-trading-articles/forex-news-how-the-worlds-news-effects-currencies-418984.html
About the Author:
Listen to Corbin Newlyn as he shares his insights as an expert author and an avid writer in the field of finance and investment. If you would like to learn more go to Forex Signal Software advice and at Real Time Forex Chart tips.
Bloomberg News
Yen, Swiss Franc Rise as Credit Losses Damp Higher-Yield Demand
Aug. 21 (Bloomberg) -- The yen and the Swiss franc rose against all of the other major currencies on concern credit- market losses will widen, reducing demand for higher-yielding assets funded by loans in Japan and Switzerland.
Aug. 21 (Bloomberg) -- The yen and the Swiss franc rose against all of the other major currencies on concern credit- market losses will widen, reducing demand for higher-yielding assets funded by loans in Japan and Switzerland.
Thursday, August 21, 2008
The Dollar & Freddie Mac
Freddie Mac
The dollar erased its gain versus the yen and pared its advance against the euro after the Wall Street Journal reported that Freddie Mac executives are scheduled to meet with U.S. Treasury Department officials today.
The dollar erased its gain versus the yen and pared its advance against the euro after the Wall Street Journal reported that Freddie Mac executives are scheduled to meet with U.S. Treasury Department officials today.
Wednesday, August 20, 2008
Yen Advances as Credit Losses Damp Demand for Higher Yields
Aug. 19 (Bloomberg) -- The yen increased to a three-month high against the euro on speculation financial firms will report more losses, reducing demand for higher-yielding assets funded by loans in Japan.
GBPJPY
GBPJPY
LONG position at 204.70
STOP LOSS below 204.20 (- 50 pips).
THE TARGETS are 205.26 / 205.80
OP, SL & TP at your own risks
LONG position at 204.70
STOP LOSS below 204.20 (- 50 pips).
THE TARGETS are 205.26 / 205.80
OP, SL & TP at your own risks
Tuesday, August 19, 2008
News : Housing Starts
Housing Starts July Report
Relevance: Tends to move markets on release
Release schedule : 8:30 AM (EST); monthly, two or three weeks after the reporting month
Source of report : U.S. Census Bureau
Web Address : www.census.gov
Address of release : www.census.gov/const/www/newresconstindex.html
News: Housing Starts
Definition
Gauges the change in the number of new houses built in the United States. Housing Starts are one of the earliest indicators of the housing market, only trailing Building Permits in timeliness.
Because high outlays are needed to start construction projects, an increase in Housing Starts implies an increase in investment and business optimism. Finally, the Housing Starts figure gives insight into consumer activity, since new home purchases typically require a large investment for consumers. Given such connections to consumer and corporate sentiment, real estate generally leads economic developments. A sharp drop in new home construction is a warning signal of economic slowdown. Conversely, a rebound in the Housing Starts paves the way for economic recovery.
Housing Starts data is differentiated by building types (single family houses, 2 to 4 residence units and 5 or more residence units). The single family housing starts is a more reliable economic indicator than multi family housing starts, as single family house building is driven by demand and consumer confidence, whereas multi family house building is more often motivated by speculative real estate investors. The report headline is expressed in volume of houses built. The figures are in the thousands of units.
Relevance: Tends to move markets on release
Release schedule : 8:30 AM (EST); monthly, two or three weeks after the reporting month
Source of report : U.S. Census Bureau
Web Address : www.census.gov
Address of release : www.census.gov/const/www/newresconstindex.html
Gauges the change in the number of new houses built in the United States. Housing Starts are one of the earliest indicators of the housing market, only trailing Building Permits in timeliness.
Because high outlays are needed to start construction projects, an increase in Housing Starts implies an increase in investment and business optimism. Finally, the Housing Starts figure gives insight into consumer activity, since new home purchases typically require a large investment for consumers. Given such connections to consumer and corporate sentiment, real estate generally leads economic developments. A sharp drop in new home construction is a warning signal of economic slowdown. Conversely, a rebound in the Housing Starts paves the way for economic recovery.
Housing Starts data is differentiated by building types (single family houses, 2 to 4 residence units and 5 or more residence units). The single family housing starts is a more reliable economic indicator than multi family housing starts, as single family house building is driven by demand and consumer confidence, whereas multi family house building is more often motivated by speculative real estate investors. The report headline is expressed in volume of houses built. The figures are in the thousands of units.
Relevance: Tends to move markets on release
Release schedule : 8:30 AM (EST); monthly, two or three weeks after the reporting month
Source of report : U.S. Census Bureau
Web Address : www.census.gov
Address of release : www.census.gov/const/www/newresconstindex.html
Saturday, August 16, 2008
Forex Trading Previews & Forex Classes
Soon at Tanjung Malim
Contact us :
Che Mat : 016 6819106
YM : myforexwatch
Contact us :
Che Mat : 016 6819106
YM : myforexwatch
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