AUD/USD: Demand is noted at 1.0020. 1.0018 was today's Asian session low.
USD/CAD: Bids are tipped near 0.9835 with sell stops touted below 0.9830 (0.9832 was the Feb 4, 33-month low).
GBP/USD: Buy Stops are tipped above 1.6120/25
EUR/JPY: Bracketed On 113-Handle
EUR/JPY offers remain ahead of 114.00. Stops above. Bids from around 113.00. Some stops mixed in sub-112.90.
USD/JPY: Bids Firm From 83.50-Area, Offers Pre-84.00. The word is that some $2 yards or so of offers… Continue
Added by Adam Horak on February 17, 2011 at 11:52am —
Over night the Green back hit its lowest levels of the year and on to a three month low against most major currencies. As the start of the US session gives way to a better then expected ADP report coming in just ahead of expectations a little life was breathed into the dollar as traders looked for risk aversion into the start of the trading day on a little profit taking for the day.
Added by Adam Horak on February 2, 2011 at 3:13pm —
The Federal Reserve bank of NY purchased 2.2$ billion in Treasure bonds late Thursday morning causing a shift from the early morning slide of both the USD and JPY. Both pairs gained ground on the announcement as traders see this is a pledge to reinves cash from the maturing mortgage backed securities and look to shift capitol back in Bonds in an effort to strengthen the US economic recovery. The auction offered nearly 12 billion in debt maturing between 2021 and 2040.
At this point… Continue
Added by Adam Horak on September 30, 2010 at 12:11pm —
Release Date: March 16, 2010
For immediate release
Information received since the Federal Open Market Committee met in January suggests that economic activity has continued to strengthen and that the labor market is stabilizing. Household spending is expanding at a moderate rate but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software has risen… Continue
Added by Adam Horak on April 6, 2010 at 2:19pm —
Price actions has been mixed today throughout the US session as the FED started its surprise FOMC meeting today at 1530 GMT time. The USD is likely to face increased volatility throughout the first part of the trading week as the FED may look to adjust the discount arte by 25 bps to 0.75% following February’s adjustment. According to the FOMC “these changes are intended as further… Continue
Added by Adam Horak on April 5, 2010 at 2:09pm —
Added by Adam Horak on March 16, 2010 at 2:23pm —
The Japanese economy threaten by the continues deflation risks with a continuing decline in prices which increases the pressure on the BOJ to combat the decline in the inflationary rates which affect negatively on the economic recovery for the second largest global economy.
The Japanese economic has announced today the consumer price index during January which fall by %1.3 compared with the pervious decrease by %1.7 and the expectations was leading to a decrease with %1.4, while the… Continue
Added by Adam Horak on February 26, 2010 at 12:12am —
Money management formula
Account balance times percent of acceptable loss gives you the amount of money you are willing to lose in a trade divided by the numbers of pips in your stop equals the number of lots you can trade.
This is really is a simple calculation, but a few simple rules too follow.
1) Your account balance; account balance multiplied by no more than .05 equals (5)% of your account balance, which is the most I want to have at risk at any one… Continue
Added by Adam Horak on November 9, 2009 at 2:09pm —
Most beginning traders believe that a good entry into the market is the key to success. Unfortunately most are very wrong. Money Management is by far the most important criteria of trading, whether it’s stocks, futures or FOREX. Every successful trader will agree that managing your trades correctly is the #1 key to consistent profits.
Loosing a trade or several trades in a row is just part of trading, period! Having a plan and trading your plan is key to… Continue
Added by Adam Horak on November 9, 2009 at 2:07pm —
In The News:
Traders await tomorrows release of the Economic Sentiment report by The German Zentrum für Europäische Wirtschaftsforschung (ZEW).
The report determines the sentiment of German institutional investors over the past month.
The ZEW report, which is concluded from survey of about 350 German institutional investors and analysts, is considered a leading indicator of business conditions.
A higher than expected reading should be taken as… Continue
Added by Adam Horak on November 9, 2009 at 10:53am —
The Federal Open Market Committee (FOMC) decision on short term interest rate is due out tomorrow (Nov 4).
The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency.
A higher than expected rate is positive/bullish… Continue
Added by Adam Horak on November 3, 2009 at 10:32am —
The U.S. Department of Labor will publish the weekly Initial Jobless Claims report tomorrow (Oct 29).
The report is a measure of the number of people who file for unemployment benefits for the first time during the given week. This data is collected by the Department of Labor, and published as a weekly report.
The number of jobless claims is used as a measure of the health of the job market, as a series of increases indicates that there are fewer people being… Continue
Added by Adam Horak on October 28, 2009 at 10:52am —
Tomorrow (Oct 21) The Bank of England's (BOE) Monetary Policy Committee (MPC) will publish its record of the committee's interest rate meeting held two weeks ago.
The meeting gives a picture of economic conditions in the UK, and records the votes of the individual members of the Committee.
If the BOE is hawkish about the inflationary outlook, it should be taken as positive/bullish for the GBP.
The Euro broke the yesterday's resistance… Continue
Added by Adam Horak on October 20, 2009 at 3:12pm —
US employers cut a deeper-than-expected 263,000 jobs in September, lifting the unemployment rate to 9.8 percent, according to a government report on Friday that fueled fears the weak labor market could undermine economic recovery.
The Labor Department said the unemployment rate was the highest since June 1983 and payrolls had now dropped for 21 consecutive months.
As I discused on my daily radio show prior to todays release, I was looking for payrolls to come… Continue
Added by Adam Horak on October 2, 2009 at 8:53am —
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending Sept. 19, the advance figure for seasonally adjusted initial claims was 530,000, a decrease of 21,000 from the previous week's revised figure of 551,000. The 4-week moving average was 553,500, a decrease of 11,000 from the previous week's revised average of 564,500.
The advance seasonally adjusted insured unemployment rate was 4.6 percent for the week ending Sept. 12, a… Continue
Added by Adam Horak on September 24, 2009 at 8:46am —
New statistics released today by the U.S. Bureau of Economic Analysis show that the slowdown in U.S. economic growth was widespread: 60 percent of metropolitan areas saw economic growth slow down or reverse. Real GDP growth slowed in 220 of the nation's 366 metropolitan statistical areas (MSAs) in 2008 with downturns in construction, manufacturing, and finance and insurance restraining growth in many metropolitan areas. Growth in real U.S. GDP by metropolitan area slowed from 2.0 percent in… Continue
Added by Adam Horak on September 24, 2009 at 8:39am —
The U.S. dollar has moved into areas of overbought territory after the recent bout of dollars strength following the FOMC minutes where the FED reiterated its pledge to keep interest rates near all time lows and sounded less hawkish than many economists had expected. The FED appears to be in no hurry to make changes to the current interest rate police or cease current quantitative easing measures. The recent dollar mood remains bearish overall after the bounce from support levels during the… Continue
Added by Adam Horak on September 23, 2009 at 10:20pm —
The dollar continues to look weak across the board, with the dollar index pushing to new yearly lows just ahead of tomorrows FOMC announcement. Any strength for the greenback seems to be brief followed by quick bouts of dollar selling. The US equities markets opened higher, with the DOW back above the 9800 level, following a broad base rally in European equities. Commodities are firm with gold extending its recent push above $1021 and crude oil back above $71.50. It looks like the greenback… Continue
Added by Adam Horak on September 22, 2009 at 11:10am —
U.S. Dollar Trading (USD) the rout continued overnight with USD strength being once again turned around and the market testing multiple levels across the board. The catalyst for today's dollar weakness was surprising weakness in July Trade Balance which fell to -32bn vs. -27bn forecast. Compounding Dollar woes was the extension of Global Stocks which further decreased demand for the Safe Haven. Crude Oil up $0.63 closing at $71.94. In US Stocks, DJIA +80 points closing at 9627, S&P +10… Continue
Added by Adam Horak on September 10, 2009 at 10:39pm —
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending Sept. 5, the advance figure for seasonally adjusted initial claims was 550,000, a decrease of 26,000 from the previous week's revised figure of 576,000. The 4-week moving average was 570,000, a decrease of 2,750 from the previous week's revised average of 572,750.
The advance seasonally adjusted insured unemployment rate was 4.6 percent for the week ending Aug. 29, a decrease… Continue
Added by Adam Horak on September 10, 2009 at 9:09am —