Weekly review and outlook on the forex market available in ActionForex.com http://www.actionforex.com Tue, 09 Feb 2010 14:54:22 +0100 FeedCreator 1.7.2 http://www.actionforex.com/images/M_images/aflogo.jpg http://www.actionforex.com Weekly review and outlook on the forex market available in ActionForex.com http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/the-education-of-the-ecb-20100208106273/ The euro is just over a decade old. In its short existence it has been embraced by every level of the international currency markets. Central banks, national treasuries, sovereign funds and multi-national corporations store their wealth and trust its central bank custodians to maintain value. Institutional and retails traders have... Mon, 08 Feb 2010 08:57:09 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/weekly-technical-commentary-20100208106259/ Slow work, but perhaps understandable as we hover not that far above key ultra-long term support between 87.00 and 85.00. We have retraced half of the year-end rally and are hovering at the bottom edge of a decent-sized flat-bottomed daily Ichimoku 'cloud'. Fibonacci retracement support at the 61% level will... Mon, 08 Feb 2010 06:08:46 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/us-economic-indicators-preview-20100208106258/ After having increased by a total of 3% in October and November, retail sales dropped by 0.3% mom in December, as car sales fell slightly despite industry reports of another rise. However, in January, the announced drop in domestic vehicle sales could actually translate into higher car sales in the... Mon, 08 Feb 2010 05:57:57 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/weekly-forex-signals%3a-gbpusd-20100208106245/ The U.K. currency might start to rebound after a strong bearish movement based on technical analysis. Indicators gives us a bullish signal for a correction reason like RSI, which bounces on 30% line upwards, MACD crosses the signal upwards on hourly chart, and Bollinger gives us a bullish signal by... Mon, 08 Feb 2010 04:09:30 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/imm-positioning-%11-short-eur-positions-at-record-level-20100208106244/ A broad-based flight from the riskier currencies coupled with Euro-zone sovereign debt fears have seen non-commercial investors add to their net long USD positions, which have now reached the highest levels since March last year. Mon, 08 Feb 2010 03:58:18 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/boe-mpc-to-provide-further-detail-behind-decision-to-halt-qe-20100208106239/ Following on from last week's decision by the MPC to halt its programme of quantitative easing, attention will shift to the detail of its quarterly Inflation Report (published on Wednesday), which would have been a key input into the MPC's deliberations. Key themes arising from the statement accompanying the policy... Mon, 08 Feb 2010 03:03:27 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/eurusd%3a-on-the-tear-for-the-13422-level-20100207106194/ With a clean violation of its July 08’09 low at 1.3831 and the 1.3747/33 levels, its Jun 16’09 low/.50 retracement(1.2328-1.5143 rally) established, risk of further weakness has scope towards the 1.3422 level, its .61 Fib retracement/May 18’09 low at 1.3422/09. However, our bearish view on EUR may be tempered with... Sun, 07 Feb 2010 10:58:35 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/gbpusd%3a-sideways-range-break-out-highlights-prospect-for-the-1.5276-level-20100207106193/ Having finally pushed through its Oct 13’09 low/range lows at 1.5706 the past week, we are now looking for further downside weakness towards its major support at the 1.5276 level, its .50 Fib Ret(1.3501-1.7041 rally). Before here lies a minor support at the 1.5351 level, its May 12’09 high. With... Sun, 07 Feb 2010 10:57:17 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/emu-economic-indicators-preview-20100206106191/ On 12 February, Destatis (the German Federal Statistical Office) is publishing its “flash release” on German Q4 GDP; a detailed breakdown of the components will follow on 24 February. As already suggested by Destatis, German GDP growth will probably have remained unchanged quarter-on-quarter in Q4 2009. Italian GDP could have... Sat, 06 Feb 2010 12:41:14 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/weekly-economic-and-financial-commentary-20100206106189/ Only in our foggy memories do past economic recoveries appear clear and obvious to the trained mind. Since our minds are still in training the current recovery appears uneven, unbalanced and uncertain. The theme of the Gross Domestic Product (GDP) report and recent data is one of uneven recovery. We... Sat, 06 Feb 2010 12:30:35 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/the-weekly-bottom-line-20100206106187/ This week could be summed up in one word - jobs. Jobs and how to create them were a focus of President Obama's budget released on Monday and stayed in the limelight through Friday with the release of the January jobs report. While there have been a number of hopeful... Sat, 06 Feb 2010 09:12:35 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/sterling-falls-sharply-despite-pause-in-qe-20100206106186/ Sterling suffered from heavy selling pressure all week, despite the BoE announcing a pause in quantitative easing. Sterling lost ground against all G-10 currencies and broke below key support versus the USD (1.57008). Risk aversion trades continued with equity markets falling for the third consecutive week while sovereign CDS spreads... Sat, 06 Feb 2010 05:14:27 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/the-week-ahead-20100206106174/ As we suggested in last week's report, risky assets swooned further this past week, with stocks, commodities, gold, oil and carry trades (JPY-crosses like AUD/JPY, EUR/JPY, and CAD/JPY) all seeing steep losses, while the USD surged higher as traders sought refuge. But a sharp rebound on Friday in those markets... Sat, 06 Feb 2010 00:24:29 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/weekly-market-wrap-20100206106173/ FX markets also remained fixated on the peripheral members of the European Union as concerns grew over possible spillover effects from Greek debt problems. Various European officials expressed optimism that member states would be able to tame burgeoning budget deficits over the medium term and reiterated that EU spending rules... Sat, 06 Feb 2010 00:18:40 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/weekly-technical-update%3a-risk-aversion-boosts-usd-and-jpy-20100206106172/ Risk aversion took over and the USD and JPY benefited. This week's action is significant as it reflects breakouts and adjustments to previous outlooks. Let's take a step back an take a look a the big picture for the currency markets. Sat, 06 Feb 2010 00:14:55 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/fx-briefing-%11-retreat-from-risk%3a-usd-continues-to-strengthen-20100205106163/ In the first half of the week, EUR-USD strengthened initially, rising about 1 US cent to just over 1.40. From Wednesday afternoon on, however, the euro began to tumble again. Towards the end of the week, it dropped to around 1.37. Debt problems in Greece and some other eurozone member... Fri, 05 Feb 2010 10:07:37 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/weekly-focus%3a-fear-is-back-20100205106161/ This week Greece announced austerity measures backed by the EU to prevent a public budget meltdown. We welcome this news and hope it will help calm tensions in Club Med sovereign debt markets. However, the markets remain shaky and this morning spreads shot out again. Can the Greeks deliver? And... Fri, 05 Feb 2010 09:58:56 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/weekly-market-commentary-20100205106158/ Stock markets will probably gather downside momentum, particularly if this week's potential 'shooting star' candles hold. This will exacerbate worries surrounding the financial system generally, and the banking system in particular. Expect more sheltering in top quality Treasuries, with yield curves flattening as short dates move towards zero. While we... Fri, 05 Feb 2010 09:36:59 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/greece-and-europe-20100201105753/ “We are cooperating with those who have more serious problems”, Joaquin Almunia European Union Economic and Monetary Affairs Commissioner said on Friday “We are all in the same boat”. Truer words were never spoken. Sovereign debt is not a Greek problem, (though it is the Greek problem); it is not... Mon, 01 Feb 2010 09:43:56 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/imm-positioning-%11-speculative-investors-turn-net-long-the-dollar-20100201105723/ Coinciding with the past week's strong dollar performance, non-commercial investors have once again turned net long the dollar. Long dollar positions against the euro were built further to reach 21 percent of open interest – not far from the level of short EUR positions in place at the height of... Mon, 01 Feb 2010 04:42:09 +0100