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31.01.2011
20:24
EGYPT: Egypt's Suleiman said the president Mubarak ordered a dialogue on possible reform and would be getting input from different political forces, as reported on the country's state TV.
19:30
US REALITY CHECK: January consumer spending extended the holiday uptrend at many U.S. shopping centers, but urban malls are still struggling, according to mall managers around the country.
19:12
OIL: NYMEX March light sweet crude has broken above the Jan 3 high of $92.58/bl to post a high of $92.66. The front contract holds currently at $92.55
18:41
Dow +48.97 at 11872.65, Nasdaq +14.80 at 2701.75, S&P +8.98 at 1285.32
Volatility continues to cool since it was stoked in this past Friday's sell-off. In turn, the Volatility Index is down more than 8%. Of course, it still has a long way to go before it can fully offset the 24% spike that it recorded on Friday.
17:37
US OUTLOOK: From UBS: "Despite higher oil prices, we maintain our 3.3% forecast for 2011 real GDP."
They est a sustained $5/barrel oil price rise takes about 0.1 pt away from GDP and say prices are up about $10 over the 2010 avg. Such is minor and "recovering inventory investment can just about offset oil price drag."
17:29
American focus: the dollar is under pressure

The euro climbed against the dollar, extending a monthly gain, as a report showed European inflation accelerated to a two-year high, indicating the European Central Bank may be moving closer to raising interest rates.

The dollar traded near a four-week low versus the yen as a measure of U.S. inflation watched by the Federal Reserve rose at the slowest pace on record. Norway’s krone and Mexico’s peso gained versus the dollar as crude oil increased on escalating protests in Egypt.

“The Fed is more focused on core inflation, and the ECB is more focused on headline inflation,” said Aroop Chatterjee, a currency strategist at Barclays Plc in New York. “That differentiates the potential monetary policy responses between the two. The question is on the European side of things. Does the ECB respond to the elevated inflation numbers?”

The 17-nation currency has gained 2.2 percent against the dollar this month as investors bet the ECB will raise borrowing costs before the Federal Reserve.

The Euribor rate at which European banks say they see each other lending for three months advanced to 1.074 percent, the highest level since July 1, 2009, according to the European Banking Federation.

16:29
Dow +34.33 at 11858.03, Nasdaq +2.81 at 2689.70, S&P +5.93 at 1282.27

The stock market has recovered from its morning stumble so that it now trades at a session high. Natural resource plays continue to provide leadership -- energy stocks are up 1.5% with Exxon Mobil (XOM 79.94, +0.95) in strong shape following its upside earnings surprise and Masey Energy (MEE 63.23, +6.00) up sharply following news of its acquisition by Alpha Natural Resources (ANR 53.89, -3.99). Meanwhile, materials stocks are sporting a collective 1.4% gain with help from U.S. Steel (X 57.44, +1.64), which has rebounded sharply from a precipitous drop this past Friday.

16:04
Option expiries for today's 1500GMT cut:

EUR/USD $1.3700
USD/JPY Y82.00
EUR/JPY Y112.00, Y113.00   
GBP/USD $1.6000
AUD/USD $0.9910, $0.9950
AUD/CAD C$0.9950

15:38
GBP/USD moves above $1.5980

Cable trades above $1.5980, breaking the trend resistance line drawn off recent highs at $1.6060. If rate can build further seen opening a move toward $1.5991 (Jan 27 high), with offers noted from here through to $1.6000. Above the figure and rate can extend toward $1.6020 ahead of $1.6040 and stronger level at $1.6060.

15:15
Dow +9.92 at 11833.06, Nasdaq -4.00 at 2683.11, S&P +2.72 at 1279.09
Broad market trade continues to lack direction. Despite the erratic start, the Volatility Index is down 3%. Intel (INTC 21.49, +0.03) shares have been halted. The company has come out announce that it has identified a chipset design error. The news has sent shares of Advanced Micro Devices (AMD 7.80, +0.31) to a morning high. Advancing Sectors: Materials (+1.0%), Energy (+0.9%), Financials (+0.5%), Industrials (+0.5%), Utilities (+0.4%) Declining Sectors: Telecom (-0.5%), Consumer Staples (-0.5%), Tech (-0.2%), Health Care (-0.1%) Unchanged: Consumer Discretionary
15:04
EUR/USD tries hto hold above $1.3700
Pushing higher through the zone of supply to $1.3725 and finding little resistance, the pair perhaps looking at destinations around last week's high near $1.3760 and the late Nov high at $1.3785. Lift above $1.3720 sufficient to flush tight stops mentioned earlier with offers at $1.3745/60 still intact.
14:56
JPM on PCE: "trajectory into the first quarter looks okay (our forecast calls for real consumption to grow 3.5%aar in 1Q2011)."
14:50
US: Chicago PMI text:
"Following a surprisingly strong December report, the Chicago Business Barometer gained additional ground in January, showing signs of a persistent strength of economic expansion."
14:46
US: Jan Chicago PMI 68.8 vs 66.8

Prices paid 81.7, New orders 75.7, Employment 64.1, Inventories 54.5, Production 73.7.

14:14
Before the bell:

U.S. stocks were headed for a higher open Monday, with strong earnings from Exxon Mobil outweighing investor worries about growing political unrest in Egypt.


On Friday, stocks logged their biggest drop in months, as mounting political protests and tensions across Egypt sparked caution among investors.
The Dow Jones industrial average lost 166 points, marking a sharp retreat for the index after it flirted with the 12,000 barrier earlier in the week.
Moody's Investors Service downgraded its rating on the nation's debt to "negative" from "stable".
World markets:

Companies: Exxon Mobil (XOM) beat expectations from analysts in a fourth-quarter report issued before the open.
The world's largest publicly traded oil company logged earnings of $9.25 billion, or $1.85 a share, up 46% from $6.05 billion, or $1.27, a year earlier.
Analysts surveyed by Thomson Reuters had expected earnings per share of $1.63. Revenue climbed 17% to $105.2 billion, beating forecasts for sales of $99.1 billion.
Exxon's stock rose 1% in premarket trading.
Over the weekend, Massey Energy (MEE) was acquired by rival Alpha Natural Resources in a $7.1 billion deal. Shares of Massey jumped 13% in pre-market trading Monday.
Oil for March delivery rose 29 cents to $89.63 a barrel.
Gold futures for February delivery fell $9.80 to $1,331.90 an ounce.
The price on the benchmark 10-year U.S. Treasury fell, pushing the yield down to 3.35% from 3.33% late Friday.




14:01
Orders desk:

EUR/USD
Offers: $1.3680, $1.3700, $1.3715/20, $1.3745/60
Bids: $1.3635/30, $1.3600, $1.3550/40, $1.3505/00

13:33
CANADA: Nov GDP +0.4% m/m vs Oct +0.2%
13:15
EUR/JPY retreats a bit

EUR/JPY above Y112.50 again up to a day's high of Y112.64. Some resistance seen just ahead of Y113.00, with a break then targeting Friday's high of Y113.59. Cross currently trading Y112.48.

12:56
AUD/USD rises

AUD/USD backs up with euro support, as Gold recovers from earlier lows of $1325.50. AUD/USDback up into the $0.9940's after bids arround $0.9920 contained the last dip. But the upside still capped by offers ahead of $0.9965/75 and fears of further Chinese tightening. Spot trades $0.9943/45.

12:45
GOLD TECHS:

Gold weakens with potential dead-cross of 21- & 100-DMAs is weighing on sentiment. Resistance line from Jan 3 comes in at $1349.10 and whilst below here downside risks seen persisting to the 200-day moving average at $1286.40. Initial support seen as daily Bollinger band base at $1318.4.

12:30
EU session review: Euro rises as inflation quickens to two-year high; Kiwi slides on permits

Data released:
07:00     Germany     Retail sales (December) real adjusted    -0.3%    2.0%    -2.4%
07:00     Germany     Retail sales (December) real unadjusted Y/Y    -1.3%    -    2.0%
10:00     EU(17)     Harmonized CPI (January) Y/Y preliminary    2.4%    2.5%    2.2%

The euro strengthened after a report showed inflation in the region accelerated to a two-year high this month, signaling policy makers may be moving closer to raising interest rates.
The single currency gained for the sixth time in the past seven days against the dollar. Inflation quickened to 2.4% from 2.2% in December, the European Union’s statistics office said today. That’s the fastest since October 2008.
The consumer-price report “underlines the ECB’s concern on inflation and will further contribute to the internal debate about what the appropriate response should be from the central bank,” said Michael Derks, chief strategist at FxPro Financial. Their concerns “are unlikely to go away in the short term, given the most recent performance of commodity prices, so they may well be one of the first major central banks to hike rates.”
New Zealand’s dollar weakened after a report showed home- building approvals fell to a 23-month low in December.
The New Zealand dollar depreciated. Home-building permits declined 19% from November to 1,018, the lowest level since January 2009, Statistics New Zealand said today. Excluding apartments, approvals fell a sixth month, dropping 11%.
The Australian dollar traded near a its lowest in more than eight weeks against the yen as Asian stocks declined on concern the unrest in Egypt will spread, damping demand for higher-yielding assets.
Australia’s currency slipped versus the yen as its central bank said loans provided by the nation’s banks and finance companies rose 0.2% in December from the previous month, compared with the median estimate for a 0.3% gain.
A monthly gauge of Australia’s inflation accelerated in January as floods in the nation’s northeast drove up the cost of fruit, vegetables and utilities, according to an index compiled by TD Securities Ltd. and the Melbourne Institute released today. Consumer prices increased 0.4% after advancing 0.2% in December. They rose 3.4% in January from a year earlier, the fifth consecutive month above the top of the Reserve Bank of Australia’s inflation target band.
“The RBA board tomorrow is expected to discuss and evaluate the outlook for inflation in the wake of widespread flood damage,” Annette Beacher at TD Securities wrote. “We remain of the view that the RBA are on the sidelines for several months, but expect the resumption of tightening from May.”

EUR/USD rose from lows around $1.3570 to $1.3775 after triggering some resistance and stops.

GBP/USD followed euro's rise, recovering from $1.5830 to $1.5913.

USD/JPY printed lows below Y82.00 before it was back to Y82.30 and set stable around there.

US data starts at 1330GMT with Personal Income & Expenditures, PCE data as well as the ISM-NY Business Index. Personal income is expected to increase by 0.4% in December.
US data continues at 1445GMT with the Chicago PMI, which is expected to fall to a reading of 65.0 in January from the revised 66.8 December reading.

12:09
EUR/USD wen through earlier high/resistance at $1.3662 to extend recovery to $1.3677. Next level of offers seen at $1.3680.
11:51
GBP/USD recovers

GBP/USD clears above $1.5885 and makes a show above $1.5900 in late European morning trade, followong euro-dollar's recovery as euro-sterling eased back to stg0.8585 from stg0.8607. Cable offers seen to $1.5911 (61.8% $1.5967/1.5821), a break to open a move toward $1.5933 (76.4%). Support seen back at $1.5885/80.

11:30
EU focus: Investors default to ‘havens’ amid Egypt turmoil

Markets were all about Egypt on Monday with the unrest and resulting uncertainty helping to get the week off to a poor start with oil bulls among the few early – and brief – winners.
While traders waited to see what will happen next in the Middle East linchpin, a shift to old favourite “safe havens” became the market’s default setting.
European stocks moved lower from the open, taking their cue from Asia - but without very strong conviction. London’s FTSE 100 was off 0.4% while the pan-European FTSE Eurofirst 300 down 0.5%.
Moody’s also warned on Monday that European construction companies could be among the most affected should the unrest continue or spread. It singled out Lafarge and Italcementi as those with the biggest exposure to the region.

Economists’ attention soon switched to the eurozone’s “flash” consumer price index estimate for January. Prices rose 2.4% year-on-year - roughly as expected - compared with 2.2% in December but the release doesn’t give any details as to the underlying drivers of this.
The numbers could however make uncomfortable reading for the European Central Bank, which meets to discuss interest rates on Thursday. Jean-Claude Trichet, president, has sounded a relatively hawkish note on inflation but recent remarks from his fellow governing council members have been split between the doves and hawks. This will only add to interest in what Mr Trichet has to say on Thursday.
Later attention will switch to the US, where personal income numbers are due, including the PCE inflation measure.

11:14
OIL:

March crude heads sharply lower after failing to find any real traction above $90.00 and now targets earlier lows of $89.19 after recent dip to $89.23. Support below at $88.14. Oil currently trades $89.28/33.

11:00
Saudi oil minister NAIMI: Confident oil markets are relatively balanced in mediaum term.
  • Saudi spare capacity is 4 mn bpd
  • Febb 22 meet of producers, consumers in Riyadh to take relationship to "a higher level."
  • Saudi realises has important role to play in promoting stability in oil markets.
  • Reecnt prices rises have little to do with supply/demand, more with dollar and traders.
10:53
EGYPT, wires report: Cairo Stock Exchange officials note exchange will be closed Tuesday - a third straight day.
10:32
EUR/JPY holds higher

EUR/JPY prints a day's high of Y112.30 following EMU flash CPI data, after Y111.42 Asian low. Resistance ahead seen at Y112.50 ahead of Y113.58. Cross trades Y112.21/24.

10:17
News reaction:

EUR/USD gets a slight lift after release of EMU flash CPI data, the headline number coming in at 2.4% (no real surprise but seen at topend of a tight 2.3%-2.4% forecast range). Rate pushes on to $1.3658 and remains firm. Next resistance seen at $1.3680.

10:01
EU: Eurozone consumer price inflation hit a 27-month high of +2.4%
09:57
OIL:
March crude rises back through $90.00 after late Asian morning low of $89.19 to a European session high of $90.21, before easing back to $90.08.
09:45
EUR/GBP retreats

EUR/GBP extended recovery to stg0.8601. However, brief pop above the figure fails to build on the initial break with rate trading back around stg0.8592. A break above the figure to open a move toward stg0.8610 ahead of stronger level at stg0.8620.

09:25
GBP/USD rebounds

GBP/USD printed hourly low at $1.5836 (76.4% $1.5821/85) and has recovered in tandem with euro-dollar, as euro-sterling meets resistance between stg0.8595/00. Cable trades around $1.5854. Resistance now seen around $1.5873, a break here to open a push back toward $1.5885.

09:10
Option expiries for today's 1500GMT cut
EUR/USD $1.3600, $1.3675, $1.3700, $1.3840, $1.3850
USD/JPY Y81.20, Y81.50, Y81.70, Y81.85, Y82.00, Y82.75, Y83.00
EUR/JPY Y111.75, Y112.00, Y113.00, Y113.50   
GBP/USD $1.6000
USD/CHF Chf0.9700
AUD/USD $0.9900, $0.9910, $0.9950, $1.0050
AUD/NZD NZ$1.3000
AUD/CAD C$0.9950
08:54
FTSE -43.90 -0.75% 5,837.47, CAC -42.63 -1.07% 3,959.69, Dax -64.92 -0.91% 7,037.88
08:47
Asian session: The yen advanced

Data:
05:00 Japan Construction orders (December) Y/Y +13.1%

The yen traded near a one-week high against the euro on speculation Egypt’s political turmoil will destabilize the Middle East, spurring demand for safer assets.
The yen advanced versus higher-yielding currencies such as the Australian and New Zealand dollars after Egyptian President Hosni Mubarak met with top military commanders yesterday as tens of thousands of protesters defied a curfew in central Cairo. 
The Swiss franc was close to its strongest level in two weeks versus the euro as Asian stocks extended a slump in shares worldwide. The South Korean won declined.
Demand for the euro was tempered on speculation this month’s 1.7 percent advance versus the dollar was excessive.

EUR/USD: pair the beginning week below a mark $1,3600. Become stronger in around $1,3630 later.
GBP/USD: the pair  become stronger in around $1,5880.
USD/JPY: the pair bargained within the limits of Y81,90-Y82,20.

UK data sees just Land Registry House Prices for December at 1100GMT
EMU flash HICP data for January is due at 1000GMT and is expected to 
US data starts at 1330GMT with Personal Income & Expenditures, PCE data as well as the ISM-NY Business Index. Personal income is expected to increase by 0.4% in December. Payroll rose 103,000 in the month, but hourly earnings were up only 0.1% and the workweek was unchanged. PCE is forecast to rise as well with an increase of 0.5% in the month, as 
retail sales rose 0.6% and non-auto sales were up 0.5%. The core PCE price index is expected to grow by 0.1%. US data continues at 1430 with the weekly MNI Capital Goods Index and then at 1445GMT with the Chicago PMI, which is expected to fall to a reading of 65.0 in January from the revised 66.8 December reading. Other regional data already released have 
suggested solid manufacturing sector expansion.
see a further rise in the inflation reading to 2.4% y/y.


08:39
Forex: Weekly review


On Monday the dollar advanced from a two-month low against the euro before U.S. reports this week forecast to show stronger growth and increasing consumer confidence.
The euro slid versus the dollar on speculation its 5.5 percent gain over the past two weeks may be hard to sustain as bets against the 17-nation currency were reversed. The pound fell before data that may show the U.K.’s growth slowed in the fourth quarter.
Gross domestic product climbed at a 3.5 percent annual pace in the fourth quarter, compared with a 2.6 percent rate in the prior three months, a separate survey showed before the Commerce Department’s report on Jan. 28.
On Tuesday the dollar dropped against the yen as Treasury yields fell on expectations President Barack Obama will propose a five-year freeze on non-security spending.
Obama will outline the freeze in U.S. spending in the State of the Union address tonight in Washington, according to a person familiar with the situation.
Sterling tumbled on Tuesday as a surprise contraction in fourth-quarter UK GDP raised fears over a double-dip recession and doused expectations that the Bank of England would raise interest rates to fight inflationary pressures in the British economy.
Figures showed the UK economy shrunk 0.5% in the last three months of 2010, far worse than expectations for growth of 0.5%.
On Wednesday the dollar touched a two-month low against the currencies of major U.S. trading partners on expectations that the Federal Reserve will reiterate the need to buy $600 billion in Treasuries to support the economy.
Sterling climbed from the lowest level against the dollar in almost two weeks as the Bank of England said two policy makers out of nine voted this month for an interest-rate increase. The euro rose earlier versus the dollar on speculation the currency region’s debt crisis will be contained and after a report showing a gauge of German inflation accelerated.
FOMC leaves all policies unch, affirms QE2 for $600b Tsys thru Q2 subject to review - to adjust as needed. Keeps extended pd, keeps FF target 0 to 1/4%. Vote 11-0 with no dissents. Repeats progress towards dual mandates 'disappointingly slow.' FOMC says econ recov is continuing but at insufficient pace to bring about 'significant' improvement in labor mkt conditions. Employers remain reluctant to add to payrolls. Hsehold spending picked up late 2010 but remains constrained by high unemp, tight credit etc. Although commodity prices have risen, long-term infln expectations remain stable, underlying infln measures trending downward.
On Thursday the yen slid against all of its major counterparts after Japan’s credit rating was lowered for the first time in nine years by Standard & Poor’s.
Japan’s credit rating was lowered to AA- as persistent deflation and political gridlock undermined efforts to reduce a 943 trillion yen ($11 trillion) debt burden.
Om Friday the dollar and Swiss franc advanced against the euro as a day of clashes in Egypt between police and protesters spurred demand for the safety of the currencies.

07:42
Stocks: Weekly review

Asian stocks fell, dragging a regional benchmark index down for the first time this week, as Japanese banks dropped after Standard & Poor’s cut the nation’s credit rating, and commodity shares declined.
Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc., Japan’s two biggest publicly traded banks, sank more than 1.5 percent in Tokyo. BHP Billiton Ltd. declined 1.1 percent in Sydney. Cnooc Ltd., China’s No. 1 offshore oil producer, slumped 7 percent in Hong Kong after forecasting production growth will slow this year. Canon Inc., the world’s biggest camera maker, slid 3.1 percent in Tokyo after reporting lower-than-forecast operating profit.
The MSCI Asia Pacific Index fell 0.6 percent to 137.42 as of 7:26 p.m. in Tokyo, with about three times as many stocks declining as advancing. Eight of 10 industry groups retreated.
The MSCI gauge had its first weekly drop in 1 1/2 months last week amid concern faster-than-expected economic growth in China will add pressure on policy makers to accelerate efforts to tame inflation. The MSCI index is on course for a 0.7 percent gain this week, and a 0.3 percent decrease this year.

European stocks declined, erasing a weekly advance for the Stoxx Europe 600 Index, as protests against Egyptian President Hosni Mubarak’s 30-year rule intensified with clashes erupting in central Cairo.
Stocks with sales in Egypt such as Italcementi SpA and Lafarge SA declined. Sanofi-Aventis tumbled 3.8 percent after saying an experimental drug failed to prolong survival in a key study. Rio Tinto Group led raw-material shares to the biggest drop among 19 industry groups on the Stoxx 600. Fiat SpA sank 4.3 percent as Credit Suisse Group AG cut its recommendation on the carmaker.
The Stoxx 600 slid 0.9 percent to 280.45 at the 4:30 p.m. close in London. The gauge has still advanced 1.7 percent this year amid better-than-forecast economic reports and speculation that European leaders will increase their efforts to contain the region’s sovereign-debt crisis.
Mubarak, in his role as military leader, ordered the army to help police implement a curfew from 6 p.m. to 7 a.m. in the capital, and in Alexandria and Suez, state television said.

U.S. stocks fell, putting the Dow Jones Industrial Average’s longest weekly rally since 1995 in jeopardy, as declines by Ford Motor Co. and Amazon.com Inc. and intensifying unrest in Egypt overshadowed an acceleration in American economic growth.
Ford plunged 13 percent as the automaker said profit slid 79 percent. Amazon declined 9 percent after saying earnings may miss analysts’ projections. Microsoft Corp. had the biggest drop in the Dow, retreating 4.2 percent, after a shortfall in Windows revenue raised concerns about future demand. The NYSE Arca Airline Index lost 4.3 percent as oil jumped 4.4 percent.
The Standard & Poor’s 500 Index fell 1.6 percent, the most on a closing basis since August, to 1,279.16 at 12:15 p.m. in New York. The Dow slid 155.72 points, or 1.3 percent, to 11,834.11. The Chicago Board Options Exchange Volatility Index, which measures the cost of insurance against losses in stocks, jumped 22 percent after Egyptian President Hosni Mubarak imposed a nationwide curfew following a day of protests aimed at undermining his 30-year rule.

07:18
Tech on USD/JPY

Resistance 3:Y83,70 (Jan 15 high)
Resistance 2:Y83,10 (resistance line from Jan 7)
Resistance 1:Y82,40 (МА (200) for Н1)
Current price: Y82.02
Support 1:Y81.80 (Jan 19 low)
Support 2:Y81.60 (Jan 4 low)
Support 3:Y81.80 (Jan 19 low)
Comments: the pair bargains in the field of the low reached on Friday. The nearest support - Y81,80. Below losses  are possible to Y81.60. The nearest resistance - Y82,40. Above growth is possible to Y83.10. 


07:14
Tech on USD/CHF

Resistance 3: Chf0.9620 (Jan 24 high)
Resistance 2: Chf0.9520 (Jan 25 high)
Resistance 1: Chf0.9480 (Jan 27 high)
Current price: Chf0.9410
Support 1: Chf0.9390 (Jan 27 low)
Support 2: Chf0.9300 (Dec 31 low)
Support 3: Chf0.9200 (psychological mark)
Comments: essential changes hasn't occured. The nearest support Chf0,9390. Below loss may extend to Chf0.9300. The nearest resistance Chf0,9480. Above is located Chf0.9520. 

07:12
Tech on GBP/USD

 

Resistance 3: $ 1.6060 (Jan 18 high)
Resistance 2: $ 1.5970 (resistance line from Jan 18)
Resistance 1: $ 1.5920 (МА (200) for Н1)
Current price: $1.5880
Support 1 : $1.5820 (session high)
Support 2 : $1.5785 (38,2 % FIBO $1,5340-$ 1,6060)
Support 3 : $1.5750 (Jan 25 low)
 
Comments: the pair  become stronger. The nearest resistance - $1,5920. Above growth is possible to $1,5970. The nearest support - $1,5820. Below  decrease is possible to $1.5750.

 

07:10
Tech on EUR/USD

Resistance 3: $ 1.3790 (Nov 22 high)
Resistance 2: $ 1.3760 (Jan 27 high)
Resistance 1: $ 1.3640 (Jan 26-27 low)
Current price: $1.3614
Support 1 : $1.3570 (Jan 25 low, session low)
Support 2 : $1.3420 (38,2 % FIBO $1.2870-$ 1.3760)
Support 3 : $1.3320 (50.0 % FIBO $1.2870-$ 1.3760)
Comments: the pair bargains in the field of the low reached on Friday. The nearest support - $1,3570. Below  decrease is possible to $1.3420. The nearest resistance - $1,3640. Above growth is possible to $1,3760. 

06:57
Schedule for today, Monday, Jan'31'2011:

05:00 Japan Construction orders (December) Y/Y - -5.3%
07:00 Germany Retail sales (December) real adjusted - -2.4%
07:00 Germany Retail sales (December) real unadjusted Y/Y - 2.0%
10:00 EU(17) Harmonized CPI (January) Y/Y preliminary 2.5% 2.2%
13:30 USA Personal income (December) 0.4% 0.3%
13:30 USA Personal spending (December) 0.5% 0.4%
13:30 USA PCE price index ex food, energy (December) 0.1% 0.1%
13:30 USA PCE price index ex food, energy (December) Y/Y - 0.8%
14:45 USA Chicago PMI (January) 65.0 66.8 

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