Nov 7
FXDD Today: A Review of the day and preview of tomorrows key economic releases and events (PDF)
FXDD Today: A Review of the day and preview of tomorrows key economic releases and events (PDF)
FXDD Today is a daily recap of today’s forex activity and review of tomorrow. It is intended to give the retail forex trader a roadmap of the key economic releases on tap along with a graphical representation of the trend for those releases. In additon, the concise one page report will recap the movements of todays key currency pairs along with information on key Market Data that effect currency movements.
Today’s report can be accessed by clicking on the following link. Thank you for choosing FXDD.
Forex Trading: GBPUSD makes new lows
The GBPUSD has moved to new lows on the day - moving below the low reached after the surprise cut of 150 basis points (low was at the 1.5719 level). The pair is now targeting the low level for the week at the 1.5603 level (from Wednesday). The selling has extended to the GBPJPY which is down by 285 pips currently on the day. The GBPCHF remains slightly positive while EURGBP is down even though the UK cut by 100 basis point more than the ECB. However, it has recovered from even lower levels (the pair tested the 100 hour moving average and bounced - see chart below).
Understanding the trends of Forex market Posted By : Maco
For more information about forex signal, forex, currency trading, forex trading strategy, forex trading system visit: www.connection2forex.com. Forex is actually the foreign exchange and deals in the goods, services and currency trading. Forex trading has gained prominence with the passage of time and more and more people have started chasing the trend.
Forex News: Commercial Paper outstanding rises by 50.5 billion
The amount of CP outstanding rose for the second week in a row by 50.5 billion. Last week, outstandings increased by 100.6 billion.
The rise is in reaction to the Feds initiation of the the Commercial Paper Funding Facility which went into effect on October 27th. Under the relief plan, the Fed would buy CP due in 90 days directly from the issuing companies. The rate on CP has dropped 1 percent following the initiation.
The decline in CP rates and LIBOR rates are helping the corporate community. However, mortgage rates remain well above 6% (last week the average 30 year reate was 6.46%). Housing is being helped by lower prices, but that does not help the wealth effect and consumer confidence.
If mortgage rates came down:
Is Forex Better Than Stocks? 3 Reasons Why It Is
Want to know why traders love the Forex? Read on to find out!
Forex News Preview: The October US Employment Report. A detailed look (PDF Format)
The US Unemployment report is due out tomorrow at 8:30 AM. The expectation is for the largest job decline in the 10 months since NFP has started to decline. In addition, the possibility exists that the unemployment rate will rise more than expected.
To find out the details by looking at the sectors that make up this most important US economic release, click on the following link
CLICK HERE FOR A PREVIEW OF THE US UNEMPLOYMENT REPORT
Greg Michalowski
Vice President
Chief Currency Analyst
Learn to be a Day Trader Not a Daily Trader Posted By : Leroy Rushing
Theres a huge difference between a day trader and a daily trader. It has to do with get-rich-quick schemes vs. learning how to trade. Which one are you?
Forex Trading: EUR/USD Bounces Off Trendline > Heading Lower with Equities
Looking at this three touch hourly downward trendline on the EUR/USD pair, which has been trading down with equity prices, we see some short-term resistance developing. If the wedge displayed below holds, we could see some consolidation for the pair, along with equity markets following the release of the Non-Farm Payroll number during the NY morning. (to be released at 8:30 am est.)
