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Quiet consolidation in Asia

2011-04-04 06:00:40 IMF pushing for Greek debt restructure- weekend press Floods, cyclones to cost AUD$9 billion- Australian Treasurer BOJ- June Tankan to be impacted by earthquake UK finance sector continues to grow Australian inflation rose 0.6% in March: TD-MI private survey Australian job ads rise 1.3% in March. Oil $108.30/bbl Sentiment remains bullish on the JPY crosses but the presence of some sizeable sell orders in EUR/JPY between 120.00/25 helped stall any fresh bullish momentum....

USD/JPY unchanged around 84.00

2011-04-04 04:45:39 Current price is 84.15. Pair bullish trend extend slightly above key 84.50 areas past Friday, yet price did not hold, and pulled back down, holding above 84.00.Technically, "slightly exhausted to the upside according to hourly indicators, 20 SMA holds a bullish slope and acts as dynamic support around mentioned 84.00 level; lose of this last, could send the pair slightly lower, yet deeps now should remain limited, as bigger time...

Gold firm ahead of key US jobs data, safe-haven buying solid

2011-04-01 12:30:40 Gold remained steady on Friday morning, trading below the multi-day peaks of the previous session as investor’s awaited key US non-farm payrolls numbers this afternoon for fresh direction.But lingering macroeconomic and geopolitical considerations kept store-of-value-related trade healthy.Spot gold, which had risen to its highest for almost a week at $1,439.65 on Thursday, held within a tight range and was last at $1,433.40/1,434.20 per ounce, up just 55 ...

GBP/USD steady above 1.6000

2011-04-01 11:23:35 Pound recovery attempt witnessed in Asia has been capped at 1.6085, and the pair gave away gains on London session, weighed by weaker then expected UK manufacturing data returning to 1.6010 low, where the pair found support to bounce up again and reach 1.6070.On the upside, resistance levels remain at 1.6085 (day high/intra-day resistance) and above here, 1.6150 (Mar 31 high) and 1.6200. Support levels are 1.6010/20 (Mar 31 low/day...

Unemployment Rate improves in Feb following last month´s revision

2011-04-01 10:03:31 The EU unemployment rate dipped to 9.9% in Feb, a slight improvement when considering the upwardly revised 10% in Jan. The Unemployment Rate released by the Eurostat is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the European Economy. If the rate is up, it indicates a lack of expansion within the European lobar market. As a result, a rise leads to weaken...

Base continue to fall as macroeconomic, fundamental factors weigh

2011-04-01 08:01:34 Base metals continued to trend to the downside in Friday early morning business, still pressured by concerns over future demand levels and wider macroeconomic and geopolitical strife.Bellwether copper was last trading at $9,359.75 per tone, down $70.25 from the Thursday close, with the red metal retracing amid worries of consumption levels from Asia."It will be interesting to see if China will come back as a buyer during the next quarter,"...

USD/JPY rises to 83.75, pre-quake levels

2011-04-01 07:17:30 Dollar recovery from historic low at 76.25 area extended on Asian session, favoured by overall Yen weakness, to break above 83.30, reaching fresh 7-week highs at 83.75, eroding downtrend resistance from December highs, before pulling back to 83.40.On the upside, above 83.75 (day high) pair might be find resistance at 84.00 (Feb 16 high) and 84.60 (Dec 15 high). On the downside, immediate support lies at...

EUR/JPY steep climbs not ceasing

2011-04-01 06:47:44 Euro upside momentum against the Japanese Yen has extended further along a relatively subdued Asian session. After tailing off at 117.65, the pair has clawed way past 118.00 round number to recently reach the key technical resistance at 118.45, level lining up with the 38.2% fib retrac of 139.30/105.60 fall. Now as the clock keeps ticking and the chart printing, clearance off this latest hurdle will likely see the...

London Session: Irish Stress Tests, Europe Inflation And All Before Tomorrow's Payrolls

2011-03-31 12:35:06 It's a fairly indecisive open to the European market today as investors wait for the results of the Irish bank stress tests later this afternoon and then the week's main event: tomorrow's US labor market report. Stocks are down at the start of the session after Asian equity markets closed slightly higher. European stocks have had a good run in the last two weeks so a pause here prior the start of the Q1...

Crude oil back above $105.00

2011-03-31 11:57:06 A weak greenback coupled with news of a retreat by Libyan rebels from Ras Lanuf has crude oil futures on the rise on Thursday. The most active contract for May delivery is up nearly $1.00 from the day´s opening price, consolidating above $105.00 around mid-day Europe.The US dollar remains noticeable weaker against its principle rivals in Europe, as pressures for an ECB rate hike mount following a...
 
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