Forex Crunch

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Forex Trading is Growing Posted: 22 Jul 2009 02:41 AM PDT

Forex Daily Outlook - July 22nd 2009 Posted: 21 Jul 2009 02:00 PM PDT

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ACM - Séance asiatique /Snap shot (22/07/2009)

Asia Session: China State Construction Engineering Corp Moves Towards IPO

Snap-Shot

22 July 2009 - 11:44 CEST
G10 Advancers and Decliners vs USD SEK 0.56 NZD 0.41 AUD 0.37 CAD 0.14 JPY 0.13 EUR 0.05 DKK 0.05 NOK 0.03 CHF -0.11 GBP -0.37 Global indexes Current level % Change Nikkei 225 Index 9,723.16 + 0.73 Hang Seng Index 19,248.17 - 1.30 Shanghai Index 3,296.62 + 2.59 FTSE 100 Index 4,473.28 - 0.17 DAX Index 5,081.70 - 0.24 SMI Index 5,621.88 - 0.25 DJIA futures 8,824.00 - 0.69 World markets Current level % Change Gold 947.10 - 0.14 Silver 13.47 - 0.55 VIX 23.87 - 2.17 Crude wti 64.83 - 1.18 USD Index 79.00 + 0.21 Todays calender Estimates Previous Country / GMT BoE MPC minutes, vote 9-0 9-0 GBP / 08.30 Industrial orders, % m/m May 1.8 -0.8,-31.9 EUR / 09.00 CBI industrial trends, total orders, net bal Jul -45 -51 GBP / 10.00 CBI quarterly trends, business optimism, net bal Q -- -40 GBP / 10.00 Retail sales less autos, % m/m May -- -0.5 CAD / 12.30 FHFA house price index, % m/m (y/y) May -0.2, -6.6 -0.1, -6.8 USD / 14.00 Fed Chairman Bernanke delivers semi-annual Monetar -- -- USD / 14.00 Trade balance, bn JPY Jun 610 298 JPY / 23.50	Currency Tech AUDUSD R 2: 0.8260 R 1: 0.8235 CURRENT: 0.8133 S 1: 0.7925 S 2: 0.7815 EURJPY R 2: 136.90 R 1: 134.80 CURRENT: 132.45 S 1: 132.28 S 2: 131.60 USDCAD R 2: 1.1350 R 1: 1.1225 CURRENT: 1.1079 S 1: 1.0930 S 2: 1.0785 Market Brief We are seeing a slight pull back in risk correlated trades, after the initial euphoria over China State Construction Engineering Corp moving closer to its much anticipated IPO and equity indexes have made new yearly highs, has worn off. While Asian regional indexes were broadly higher (Shanghai's up 2.59%), European stock markets have failed to follow and US futures are pointing to a lower open. Right now, the momentum in the EURUSD seems to be waning, as the correction from Tuesday's 1.4280 highs continues. We haven't witnessed any real earning surprises to the downside as expected, while Caterpillar tripled earning expectations, which have supported risk appetite. The much hyped Fed Chairman Bernanke's testimony didn't surprise the markets, as he stayed well within the pre-released WSJ article script. Overall, he provided details of the Fed's exit strategy from QE, focused on the fact that unemployment could undermine the US fragile recovery and that the current stimulus measures would stay in place for some time. In Canada, the BoC held rates steady at 0.25% while strengthening the language regarding the recent CAD appreciation. Market reacted by pushing USDCAD off the 1.0965 support to 1.1110. And finally Australian CPI came in lower than expected. However, this has not dampened expectations that the next RBA move will be higher. We expect rate expectations, the global and domestic recovery to support the AUD mid term (risk appetite will be the core determinate near term).
Stratregy Desk +41 (22) 593 62 90 strategy@ac-markets.com Dealing Desk: +41 (22) 319 22 02 dealingdesk@ac-markets.com Sales Desk +41 (22) 593 22 03 sales@ac-markets.com
All ACM staff (except dealing desk staff) are at your disposal to reply from 09:00-19:00 CET only. The telephone dealing desk is reserved for ACM customers only
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance. unsubscribe

ACM - Séance asiatique /Snap shot (22/07/2009)

Asia Session: China State Construction Engineering Corp Moves Towards IPO

Snap-Shot

22 July 2009 - 11:44 CEST
G10 Advancers and Decliners vs USD SEK 0.56 NZD 0.41 AUD 0.37 CAD 0.14 JPY 0.13 EUR 0.05 DKK 0.05 NOK 0.03 CHF -0.11 GBP -0.37 Global indexes Current level % Change Nikkei 225 Index 9,723.16 + 0.73 Hang Seng Index 19,248.17 - 1.30 Shanghai Index 3,296.62 + 2.59 FTSE 100 Index 4,473.28 - 0.17 DAX Index 5,081.70 - 0.24 SMI Index 5,621.88 - 0.25 DJIA futures 8,824.00 - 0.69 World markets Current level % Change Gold 947.10 - 0.14 Silver 13.47 - 0.55 VIX 23.87 - 2.17 Crude wti 64.83 - 1.18 USD Index 79.00 + 0.21 Todays calender Estimates Previous Country / GMT BoE MPC minutes, vote 9-0 9-0 GBP / 08.30 Industrial orders, % m/m May 1.8 -0.8,-31.9 EUR / 09.00 CBI industrial trends, total orders, net bal Jul -45 -51 GBP / 10.00 CBI quarterly trends, business optimism, net bal Q -- -40 GBP / 10.00 Retail sales less autos, % m/m May -- -0.5 CAD / 12.30 FHFA house price index, % m/m (y/y) May -0.2, -6.6 -0.1, -6.8 USD / 14.00 Fed Chairman Bernanke delivers semi-annual Monetar -- -- USD / 14.00 Trade balance, bn JPY Jun 610 298 JPY / 23.50	Currency Tech AUDUSD R 2: 0.8260 R 1: 0.8235 CURRENT: 0.8133 S 1: 0.7925 S 2: 0.7815 EURJPY R 2: 136.90 R 1: 134.80 CURRENT: 132.45 S 1: 132.28 S 2: 131.60 USDCAD R 2: 1.1350 R 1: 1.1225 CURRENT: 1.1079 S 1: 1.0930 S 2: 1.0785 Market Brief We are seeing a slight pull back in risk correlated trades, after the initial euphoria over China State Construction Engineering Corp moving closer to its much anticipated IPO and equity indexes have made new yearly highs, has worn off. While Asian regional indexes were broadly higher (Shanghai's up 2.59%), European stock markets have failed to follow and US futures are pointing to a lower open. Right now, the momentum in the EURUSD seems to be waning, as the correction from Tuesday's 1.4280 highs continues. We haven't witnessed any real earning surprises to the downside as expected, while Caterpillar tripled earning expectations, which have supported risk appetite. The much hyped Fed Chairman Bernanke's testimony didn't surprise the markets, as he stayed well within the pre-released WSJ article script. Overall, he provided details of the Fed's exit strategy from QE, focused on the fact that unemployment could undermine the US fragile recovery and that the current stimulus measures would stay in place for some time. In Canada, the BoC held rates steady at 0.25% while strengthening the language regarding the recent CAD appreciation. Market reacted by pushing USDCAD off the 1.0965 support to 1.1110. And finally Australian CPI came in lower than expected. However, this has not dampened expectations that the next RBA move will be higher. We expect rate expectations, the global and domestic recovery to support the AUD mid term (risk appetite will be the core determinate near term).
Stratregy Desk +41 (22) 593 62 90 strategy@ac-markets.com Dealing Desk: +41 (22) 319 22 02 dealingdesk@ac-markets.com Sales Desk +41 (22) 593 22 03 sales@ac-markets.com
All ACM staff (except dealing desk staff) are at your disposal to reply from 09:00-19:00 CET only. The telephone dealing desk is reserved for ACM customers only
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance. unsubscribe

ACM / Economic calendar and daily foreign exchange news & analysis

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Demo|Live|Free Practice  Daily Newsletter: 21/07/2009  By Peter Rosenstreich - ACM Advanced Currency Markets, Geneva, Switzerland Today's Economic Calendar:  TIME (GMT)    EVENT  VALUE NAME   CONS.   11:45    US:ICSC-Goldman Store Sales Store Sales - W/W change 0%       Store Sales - Y/Y 0%   12:55    US:Redbook Store Sales Y/Y change 0%   13:00    CA:Bank of Canada Announcement Change 0bp       Level 0.25%   Full week Economic Calendar         Bernanke Goes To Congress News and Events: With a light calendar today and low volumes, price action is still defined by choppy trading and lack of direction. In Australia, the RBA released the July Board Meeting minutes, where the central bank held rates at 3.00%. Leading up to Bernanke's congressional testimony, the Chairman penned an article for the WSJ. In this morning article, he made it clear it was highly unlikely that tightening would occur for a while, given the uncertain economic conditions. In Canada , the BoC will meet today and is universally expected to keep rates at hold at 0.25%. Read Today's Key Issues and The Risk Today         Resistance and Support: EURUSD GBPUSD USDJPY USDCHF 1.4350 1.6620 96.80 1.0875 1.4280 1.6590 96.25 1.0764 1.4250 1.6550 94.60 1.0707 1.4211 1.6429 94.16 1.0695 1.4150 1.6381 93.86 1.0654 1.4055 1.6270 93.20 1.0590 1.3920 1.6145 92.60 1.0550 S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot Quick access to our 5 previous newsletters:  Bernanke's Semi-Annual Monetary Policy Testimony & Corporate...  Dollar pares gains ahead of BofA and CITI Q2 results  Q2 Earnings season spurs risk appetite  Strong Corporate Earnings Give Risk Correlated Assets a Boost  Waiting for Corporate Earnings and US Retail Sales This e-mail is intended solely for the indicated recipient(s). It may contain privileged and/or confidential information. If you are not one of the intended recipients, please notify the sender immediately and destroy this e-mail; you must not copy, distribute or take any action in reliance on the information contained within. Whilst all efforts are made to safeguard inbound and outbound e-mails, ACM SA cannot guarantee that attachments are virus free or compatible with your software and declines any liability in respect to viruses or computer problems experienced. Any views expressed in this message are those of the individual sender, except where specifically stated to be the view of ACM SA, its subsidiaries or associates. Additionally ACM SA declines any liability connected with losses incurred on transactions based on any market information and/or opinions contained within this e-mail. This message has been checked for all known viruses by McAfee Virus scan. DIRECT LINKS:   Forex Trading   New To Forex   Forex Quotes   Charts   White Labels   Asset Managers   Introducing Brokers     unsubscribe