Action Forex |
- Daily technical outlook
- 25 of 27 EU countries approve the Fiscal Compact; Merkel delays greek deal
- AUDUSD pulled back from 1.0687
- Atypical Weather Trims Consumer Spending and GDP in 2011:Q4
- 25 of 27 EU countries approve the Fiscal Compact; Merkel delays greek deal
- AUDUSD pulled back from 1.0687
- New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
- Daily technical outlook
- European markets fall ahead of summit; Italy 10-year yields drop to 6.8% at debt sale
- AUDUSD pulled back from 1.0687
| Posted: 30 Jan 2012 02:54 PM PST The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region's debt crisis and sign off a permanent rescue fund for the eurozone. Here's a couple of charts to start the week with: USD Index Former support around 79.50 is now providing the first resistance level, so it's a good idea to keep an eye |
| 25 of 27 EU countries approve the Fiscal Compact; Merkel delays greek deal Posted: 30 Jan 2012 02:45 PM PST The Fiscal Compact has been ratified by 25 of 27 countries across the European Union in the first economic summit of the year Monday in Brussels. The United Kingdom and the Czech Republic haven ratified the agreement according to sources. “25 member states join and will sign the fiscal compact treaty,” said Herman Van Rompuy, President of the European Council in his Twitter account. The fiscal treaty |
| AUDUSD pulled back from 1.0687 Posted: 30 Jan 2012 02:42 PM PST Being contained by the upper line of the price channel on 4-hour chart, AUDUSD pulled back from 1.0687, suggesting that a cycle top is being formed. Deeper decline towards the lower line of the channel would likely be seen in a couple of days. As long as the channel support holds, the fall could be treated as consolidation of uptrend from 0.9861, another rise towards 1.0900 is still possible after consolidation, a |
| Atypical Weather Trims Consumer Spending and GDP in 2011:Q4 Posted: 30 Jan 2012 02:15 PM PST Real consumer spending slipped 0.1% in December after postings in October and November. All major components – durable goods (-0.1%), nondurables (-0.1%) and services (-0.1%) – fell in December and trimmed the pace of consumer spending in the fourth quarter. The weakness in consumer outlays on services stands out in the fourth quarter (see Chart 2). Service outlays rose only at an annual rate of 0.2%, while th |
| 25 of 27 EU countries approve the Fiscal Compact; Merkel delays greek deal Posted: 30 Jan 2012 01:46 PM PST The Fiscal Compact has been ratified by 25 of 27 countries across the European Union in the first economic summit of the year Monday in Brussels. The United Kingdom and the Czech Republic haven ratified the agreement according to sources. “25 member states join and will sign the fiscal compact treaty,” said Herman Van Rompuy, President of the European Council in his Twitter account. The fiscal treaty |
| AUDUSD pulled back from 1.0687 Posted: 30 Jan 2012 01:39 PM PST Being contained by the upper line of the price channel on 4-hour chart, AUDUSD pulled back from 1.0687, suggesting that a cycle top is being formed. Deeper decline towards the lower line of the channel would likely be seen in a couple of days. As long as the channel support holds, the fall could be treated as consolidation of uptrend from 0.9861, another rise towards 1.0900 is still possible after consolidation, a |
| New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 30 Jan 2012 01:15 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve |
| Posted: 30 Jan 2012 12:54 PM PST The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region's debt crisis and sign off a permanent rescue fund for the eurozone. Here's a couple of charts to start the week with: USD Index Former support around 79.50 is now providing the first resistance level, so it's a good idea to keep an eye |
| European markets fall ahead of summit; Italy 10-year yields drop to 6.8% at debt sale Posted: 30 Jan 2012 12:46 PM PST As EU leaders are arriving in Brussels for the first economic summit of the year, European stocks extend losses due to uncertainties whether the meeting will bring viable solutions to the debt crisis in the area. The talks will center on the situation in Greece, where a PSI deal is expected to be finalized in the upcoming days. The next tranche of aid for the country cannot be released until an agreement in |
| AUDUSD pulled back from 1.0687 Posted: 30 Jan 2012 12:41 PM PST Being contained by the upper line of the price channel on 4-hour chart, AUDUSD pulled back from 1.0687, suggesting that a cycle top is being formed. Deeper decline towards the lower line of the channel would likely be seen in a couple of days. As long as the channel support holds, the fall could be treated as consolidation of uptrend from 0.9861, another rise towards 1.0900 is still possible after consolidation, a |
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