Monthly Archives: May 2011

Forex Market Commentary April 27th 2011

Forex Market Commentary—All JPY currency pairs are still on their wave 5 upward, seen best on the 4 hour time frame. EUR/USD and GBP/USD along with most other currency pairs have had a new break out to a wave 5 or wave 1 of a wave 5. USD/CHF and USD/CAD are in opposite correlated positions, but also breaking out. Watch for the completion of the consolidation as the New York Market opens. All currency pairs seem to be in a similar consolidation, but should continue their general trends soon.

Posted in Industry News | Tagged | Comments closed

Gold hits record highs on weak dollar

Five-tael (6.65 ounces or 190 grams) gold bars are seen at a jewellery store in Hong Kong in this April 21, 2011 illustration photo.

Credit: Reuters/Bobby Yip

SINGAPORE | Sun Apr 24, 2011 8:00pm EDT

SINGAPORE – Spot gold rose to a record of $1,513.70 an ounce on Monday, extending the record-breaking rally to the seventh consecutive session, as the dollar languished near its three-year low.

U.S. gold futures also hit a record high, at $1,514.50 an ounce.

Posted in Industry News | Tagged , | Comments closed

Forex Market Commentary April 20th 2011

Forex Market Commentary—Almost all currency pairs are in a wave C of a 4 or a wave 3 of a wave 5 reversal. Even the EUR/USD and the USD/CHF have taken a temporary positive correlation to each other in the same a,b,c or 1,2,3 pattern (their only difference may be that EUR/USD is in a reversal back to the general trend while USD/CHF is in a correction. All JPY pairs are almost identical, but CHF/JPY is lagging behind the others for a change.

Posted in Industry News | Tagged | Comments closed

Dollar, euro hit session lows vs yen on fresh quake

Source: http://www.reuters.com/article/2011/04/11/markets-forex-yen-idUSLDE73A0NK20110411

LONDON, April 11 | Mon Apr 11, 2011 4:29am EDT

LONDON, April 11 – The dollar and the euro hit session lows against the yen on Monday on reports of another strong earthquake hitting the north east of Japan, triggering a tsunami warning.

The dollar JPY= lost around 15 pips to hit a session low around 84.59 yen, while the euro EURJPY=R lost 20 pips to drop to 122.22 yen, according to Reuters data, as investors cut stretched long positions in riskier currencies.

Posted in Industry News | Tagged , | Comments closed

Canadian Dollar Appreciates as Crude Oil Price Increases to 30-Month High

Source: http://www.bloomberg.com/news/2011-04-07/canadian-dollar-strengthens-as-rising-crude-oil-and-gold-fuel-added-demand.html

By Alexandra Harris – Apr 8, 2011 5:07 AM GMT+0800 Thu Apr 07 21:07:16 GMT 2011

Canada’s dollar rose to almost the strongest level in more than three years against the U.S. dollar as crude oil, the nation’s largest export, traded at a 30-month high, adding demand for commodity-linked currencies.

The loonie, as the currency is nicknamed, earlier pared gains against the greenback after reports of an earthquake off Japan’s coast damped risk appetite. Crude oil exceeded $110 a barrel as a fire burned at Libya’s Sarir field, bolstering concern that unrest in North Africa and the Middle East will spread. Canadian building permits rose more than forecast in February before a report tomorrow forecast to show a March gain of 28,000 jobs.

Posted in Industry News | Tagged , | Comments closed

FOREX-Euro slips from recent peaks before ECB, yen off lows

Source: http://www.reuters.com/article/2011/04/07/markets-forex-idUSL3E7F70PV20110407

By Natsuko Waki

TOKYO, April 7 – The euro slipped from an 11-month high against the yen and 14-month peak versus the dollar as investors focused on how much room the European Central Bank has for raising interest rates beyond a widely expected tightening later in the day.

The yen held above a six-month trough against the dollar. The Bank of Japan met market expectations that it would keep monetary policy steady and signal its readiness to ease policy further, bucking a global trend of central banks withdrawing excess liquidity put in place during the financial crisis .

Posted in Industry News | Tagged , , | Comments closed

Forex Market Commentary April 06th 2011

Forex market Commentary—The market appears, generally, that it is still in the B wave of the consolidation spoken of yesterday. ait appears to be continuing with the general trend, but be aware that this continuation may be simply until the conclusion of the B wave, then reversing to complete the C wave of the consolidating correction. Best pairs for trading are those that appear to be in a wave 3 of a 3 of a wave 5 in a continuing up-trend, the GBP/USD, GBP/JPY, USD/JPY, and the USD/CAD is in a B wave of a 4 of a wave 3 in a general down-trend, doing opposite the other pairs along with the USD/CHF which appears to be about to continue short on a wave 3 of a 5 of a wave 3.

Posted in Industry News | Tagged | Comments closed

Yen Falls a Seventh Day Before Reports on U.S. Jobs, French Manufacturing

Source: http://www.bloomberg.com/news/2011-03-31/yen-falls-a-seventh-day-before-reports-on-u-s-jobs-french-manufacturing.html

By Masaki Kondo and Ron Harui – Apr 1, 2011 11:16 AM GMT+0800 Fri Apr 01 03:16:50 GMT 2011

The yen weakened against all its major counterparts before reports that economists said will show U.S. employers added jobs and a gauge of French manufacturing held at the highest level in nine months. Photographer: Tomohiro Ohsumi/Bloomberg

The yen weakened against all its major counterparts before reports that economists said will show U.S. employers added jobs last month and a gauge of French manufacturing held at the highest level in nine months.

Posted in Industry News | Tagged , , | Comments closed

Forex Market Commentary April 01st 2011

Forex Market Commentary—Most currency pairs are in a C wave correction, but with an anticipated reversal with their general trend coming soon.  The GBP/USD may already have begun a five wave sequence down, but we are waiting for confirmation to see if it will remain correlated with the EUR/USD which is still in a general up-trend, now in a wave B of a 4 of a 3 or in the wave 5 of the 3 of a wave 5.  JPY currency pairs continue to break above previous highs, with exceptions of the USD/JPY, GBP/JPY and NZD/JPY, and the AUD/USD and NZD/USD continue their wave 5 of 5 general up-trend.

Posted in Industry News | Tagged | Comments closed

Geithner says exchange rates key to global monetary problems

Source: http://www.reuters.com/article/2011/03/31/g20-geithner-china-idUSBGNVEE70120110331

NANJING, China, March 31 – Inconsistency in exchange rate policies is the most important problem in the international monetary system, with some countries running tightly managed currency regimes that harm the global economy, U.S. Treasury Secretary Timothy Geithner told a G20 meeting on Thursday.

The solution to the problem is not complicated, he said. Rather than a new treaty or new institution, all that is needed is national action, Geithner said.

“We have been engaged in a careful multilateral effort in the G20 to establish stronger norms for exchange rate policy,” he said, according to a prepared text of his remarks.

Posted in Industry News | Tagged , , | Comments closed
Live Chat