Monthly Archives: May 2012

UFXMarkets *Daily Forex Currency Trading News* 31-May-2012

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UFXMarkets *Daily Forex Currency Trading News* 30-May-2012

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Weekly Forex Market Forecast (May 28th – June 1st 2012)

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Key Fundamental Forex Events and Forecasts for the Coming Week

The following table lists the key economic data and other events that are due out during the week of May 28th – June 1st, with release times displayed for the GMT time zone.

The list also includes the current market consensus forecast for each event and indicates what sort of deviation might affect the forex market valuation of the indicated currency positively.

Monday, May 28th

  • 12:10am AUD RBA Governor Stevens speaks (hawkish = good for currency)
  • All Day CHF Bank Holiday
  • All Day EUR French Bank Holiday
  • All Day EUR German Bank Holiday
  • All Day USD Bank Holiday

Tuesday, May 29th

  • 3:00pm USD CB Consumer Confidence (69.6, > good for currency)

Wednesday, May 30th

  • 2:30am AUD Retail Sales (0.2%, > good for currency)
  • Tentative EUR Italian 10-y Bond Auction
  • 3:00pm USD Pending Home Sales (0.0%, > good for currency)

Thursday, May 31st

  • 2:00am NZD NBNZ Business Confidence (35.8, > good for currency)
  • 2:30am AUD Building Approvals (0.7%, > good for currency)
  • 2:30am AUD Private Capital Expenditure (4.1%, > good for currency)
  • 1:15pm USD ADP Non-Farm Employment Change (139K, > good for currency)
  • 1:30pm USD Prelim GDP (1.9%, > good for currency)
  • 1:30pm USD Unemployment Claims (369K, > good for currency)
  • All Day EUR Irish Stability Treaty Vote

Friday, June 1st

  • 2:00am CNY Manufacturing PMI (52.1, > good for currency)
  • 8:15am CHF Retail Sales (3.6%, > good for currency)
  • 9:30am GBP Manufacturing PMI (49.7, > good for currency)
  • 1:30pm CAD GDP (0.3%, > good for currency)
  • 1:30pm USD Non-Farm Employment Change (152K, > good for currency)
  • 1:30pm USD Unemployment Rate (8.1%, > good for currency)
  • 3:00pm USD ISM Manufacturing PMI (54.1, > good for currency)
  • Tentative USD Treasury Currency Report (hawkish = good for currency)

Technical Forecast and Levels to Watch for the Majors This Week

EURUSD: Higher

Resistance:
Initial: 1.2588, 1.2623/65, 1.2857/86, 1.2904, 1.2946/94, 1.3000/55, 1.3133/59, 1.3211/24, 1.3251/92, 1.3321, 1.3376/85, 1.3433 and 1.3485/95.
Above: 1.3546/68, 1.3614, 1.3795/98, 1.3836, 1.3969, 1.4000, 1.4246, 1.4500/17, 1.4695 and 1.4939.

Support:
Initial: 1.2496, 1.2456, 1.2329, 1.1938, 1.1876 and 1.1639.
Below: 1.0762, 1.0206, 0.9599/0.9607, 0.9338, 0.8410, 0.8347 and 0.8225.

USDJPY: Lower

Resistance:
Initial: 79.96/80.22, 80.56/61, 80.82, 81.14/46, 81.76/96, 82.01/22, 82.53, 82.64, 83.01/09, 83.17, 83.37, 83.77 and 83.96.
Above: 84.09/17, 84.51, 84.80, 85.51, 85.92, 87.11/13, 87.95, 93.77 and 94.97.

Support:
Initial: 79.40/52, 79.05, 78.99, 78.66, 78.06/28, 77.00/89, 76.73/83 and 76.02/41.
Below: 75.94/98, 75.70 and 75.56.

GBPUSD: Higher

Resistance:
Initial: 1.5668, 1.5685/91, 1.5717, 1.5732, 1.5781, 1.5804/07, 1.5890, 1.5907, 1.5921/27, 1.5983/90, 1.6035, 1.6061/92, 1.6109 and 1.6182/98.
Above: 1.6297, 1.6301, 1.6452/56, 1.6474, 1.6546, 1.6570, 1.6589/98, 1.6616, 1.6741/45 and 1.6876.

Support:
Initial: 1.5643/47, 1.5637, 1.5624/29, 1.5601, 1.5516/85, 1.5465/99, 1.5422 and 1.5410.
Below: 1.5375, 1.5293, 1.5270/77, 1.5232, 1.5123 and 1.5000. 

AUDUSD: Mildly Higher

Resistance:
Initial: 0.9794, 0.9861/63, 0.9900, 0.9925/83, 1.0000/18, 1.0052, 1.0100/16, 1.0216/66, 1.0303/84, 1.0422, 1.0444/51, 1.0474/98, 1.0508, 1.0556, 1.0596, 1.0608, 1.0627/38, 1.0654, 1.0668/70 and 1.0686.
Above: 1.0751/53, 1.0792/98, 1.0842, 1.0854, 1.1010, 1.1064 and 1.1079.

Support:
Initial: 0.9732, 0.9620/89, 0.9536/41, 0.9500 and 0.9486.
Below: 0.9382/86, 0.9341, 0.9329, 0.9221, 0.8915, 0.8734, 0.8578 and 0.8066/81.

USDCAD: Mildly Lower

Resistance:
Initial: 1.0297, 1.0302, 1.0311, 1.0334/37, 1.0415/23, 1.0438, 1.0481 and 1.0500.
Above: 1.0506, 1.0522, 1.0646/56, 1.0669 and 1.0742/85.

Support:
Initial: 1.0262/87, 1.0220/32, 1.0207, 1.0160/99, 1.0105/42, 1.0018/78, 0.9997, 0.9969, 0.9947/54, 0.9924/27, 0.9906, 0.9828/99, 0.9789/99 and 0.9724.
Below: 0.9686, 0.9645, 0.9525, 0.9445 and 0.9405.

NZDUSD: Mildly Higher

Resistance:
Initial: 0.7552/85, 0.7605/76, 0.7723/95, 0.7804/88, 0.7906, 0.7955, 0.7979, 0.7993/96, 0.8057/99, 0.8109/35, 0.8204, 0.8227, 0.8240/62, 0.8279 and 0.8294.
Above: 0.8317/95, 0.8405, 0.8420/27, 0.8504, 0.8571, 0.8764 and 0.8841.

Support:
Initial: 0.7521, 0.7500, 0.7404/67, 0.7369, 0.7342, 0.7321, 0.7189, 0.7115, 0.7099 and 0.7000.
Below: 0.6945/62, 0.6793, 0.6686, 0.6560, 0.5914/28, 0.5012, 0.4890, 0.4485, 0.4451 and 0.3909.

UFXMarkets *Daily Forex Currency Trading News* 29-May-2012

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UFXMarkets *Daily Forex Currency Trading News* 28-May-2012

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For more currency & commodity news & info, visit ufx.co Wall Street closed the trading week negative as the NASDAQ Continue reading →

UFXMarkets *Daily Forex Currency Trading News* 24-May-2012

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For more currency & commodity news & info, visit ufx.co Stocks finished mostly flat on continuing talks calling for a Continue reading →

Weekly Forex Market Forecast (May 21st – May 25th 2012)

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Key Fundamental Forex Events and Forecasts for the Coming Week

The following table lists the key economic data and other events that are due out during the week of May 21st – May 25th, with release times displayed for the GMT time zone.

The list also includes the current market consensus forecast for each event and indicates what sort of deviation might affect the forex market valuation of the indicated currency positively.

Monday, May 21st

  • All Day CAD Bank Holiday

Tuesday, May 22nd

  • 4:00am NZD Inflation Expectations q/q 2.5%
  • 9:30am GBP CPI y/y 3.1% 3.5%
  • 9:30am GBP Public Sector Net Borrowing -5.4B 15.9B
  • Tentative GBP BOE Inflation Letter
  • 3:00pm USD Existing Home Sales 4.64M 4.48M

Wednesday, May 23rd

  • Tentative JPY Monetary Policy Statement
  • Tentative JPY Overnight Call Rate <0.10% <0.10%
  • Tentative JPY BOJ Press Conference
  • 9:30am GBP MPC Meeting Minutes 0-0-9 0-0-9
  • 9:30am GBP Retail Sales m/m -0.7% 1.8%
  • 1:30pm CAD Core Retail Sales m/m 0.6% 0.5%
  • 3:00pm USD New Home Sales 335K 328K

Thursday, May 24th

  • 3:00am NZD Annual Budget Release
  • 3:30am CNY HSBC Flash Manufacturing PMI 49.3
  • 9:00am EUR German Ifo Business Climate 109.5 109.9
  • 9:30am GBP Revised GDP q/q -0.2% -0.2%
  • 1:30pm USD Core Durable Goods Orders m/m 1.2% -0.8%
  • 1:30pm USD Unemployment Claims 374K 370K

Friday, May 25th

  • Tentative USD Treasury Currency Report

Technical Forecast and Levels to Watch for the Majors This Week

EURUSD: Mildly Higher

Resistance:
Initial: 1.2886, 1.2904, 1.2946/94, 1.3000/55, 1.3133/59, 1.3211/24, 1.3251, 1.3269, 1.3284/92, 1.3321, 1.3376/85, 1.3433 and 1.3485/95.
Above: 1.3546/68, 1.3614, 1.3795/98, 1.3836, 1.3969, 1.4000, 1.4246, 1.4500/17, 1.4695 and 1.4939.

Support:
Initial: 1.2857/77, 1.2623/65, 1.2588, 1.2456, 1.2329, 1.1938 and 1.1876.
Below: 1.1639, 1.0762, 1.0206, 0.9599/0.9607, 0.9338, 0.8410, 0.8347 and 0.8225.

USDJPY: Mildly Higher

Resistance:
Initial: 79.05, 79.40/43, 79.52, 79.64, 79.96/80.22, 80.56/61, 80.82, 81.14/46, 81.76/96, 82.01/22, 82.53, 82.64, 83.01/09, 83.17, 83.37, 83.77 and 83.96.
Above: 84.09/17, 84.51, 84.80, 85.51, 85.92, 87.11/13, 87.95, 93.77 and 94.97.

Support:
Initial: 78.99, 78.66, 78.06/28, 77.00/89, 76.73/83 and 76.02/41.
Below: 75.94/98, 75.70 and 75.56.

GBPUSD: Mildly Higher

Resistance:
Initial: 1.5890, 1.5907, 1.5921/27, 1.5983/90, 1.6035, 1.6061/66, 1.6075/80, 1.6092, 1.6109, 1.6182/98, 1.6297, 1.6301, 1.6452/56 and 1.6474.
Above: 1.6546, 1.6570, 1.6589/98, 1.6616, 1.6741/45 and 1.6876.

Support:
Initial: 1.5804/07, 1.5781, 1.5732, 1.5717, 1.5685/91, 1.5668, 1.5643/47, 1.5624/29, 1.5601 and 1.5516/85.
Below: 1.5465/99, 1.5422, 1.5410, 1.5375, 1.5293, 1.5270/77, 1.5232, 1.5123 and 1.5000. 

AUDUSD: Mildly Higher

Resistance:
Initial: 0.9861/63, 0.9900, 0.9925/83, 1.0000/18, 1.0052, 1.0100/16, 1.0216/66, 1.0303/84, 1.0422, 1.0444/51, 1.0474/98, 1.0508, 1.0556, 1.0596, 1.0608, 1.0627/38, 1.0654, 1.0668/70 and 1.0686.
Above: 1.0751/53, 1.0792/98, 1.0842, 1.0854, 1.1010, 1.1064 and 1.1079.

Support:
Initial: 0.9794, 0.9732, 0.9620/89, 0.9536/41, 0.9500 and 0.9486.
Below: 0.9382/86, 0.9341, 0.9329, 0.9221, 0.8915, 0.8734, 0.8578 and 0.8066/81.

USDCAD: Mildly Lower

Resistance:
Initial: 1.0220/32, 1.0262/87, 1.0297, 1.0302 and 1.0334/37.
Above: 1.0415/23, 1.0438, 1.0481, 1.0500, 1.0506, 1.0522, 1.0646/56, 1.0669 and 1.0742/85.

Support:
Initial: 1.0207, 1.0160/99, 1.0105/42, 1.0018/78, 0.9997, 0.9969, 0.9947/54, 0.9924/27, 0.9906, 0.9828/99, 0.9799, 0.9796, 0.9789 and 0.9724.
Below: 0.9686, 0.9645, 0.9525, 0.9445 and 0.9405.

NZDUSD: Mildly Higher

Resistance:
Initial: 0.7568, 0.7605/72, 0.7723/95, 0.7804/88, 0.7906, 0.7955, 0.7979, 0.7993/96, 0.8057/99, 0.8109/35, 0.8204, 0.8227, 0.8240/62, 0.8279 and 0.8294.
Above: 0.8317/95, 0.8405, 0.8420/27, 0.8504, 0.8571, 0.8764 and 0.8841.

Support:
Initial: 0.7552, 0.7521, 0.7500, 0.7404/67, 0.7369, 0.7342, 0.7321, 0.7189, 0.7115, 0.7099 and 0.7000.
Below: 0.6945/62, 0.6793, 0.6686, 0.6560, 0.5914/28, 0.5012, 0.4890, 0.4485, 0.4451 and 0.3909.

UFXMarkets *Daily Forex Currency Trading News* 23-May-2012

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UFXMarkets *Daily Forex Currency Trading News* 22-May-2012

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For more currency & commodity news & info, visit ufx.co The S&P 500 rallied by 1.60%, NASDAQ by 2.46%, and Continue reading →

UFXMarkets *Daily Forex Currency Trading News* 21-May-2012

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Stocks declined after Facebook shares……www.ufxmarkets.com . rose by less than expected and the Euro’s Greek exit question remains open