Updates on AUD, GBP, EUR

This week we have no seen much news influencing the volatility of the majors pairs (except for JPY).

The Oceania countries posted higher business confidence on Tues causing both NZDUSD & AUDUSD to climb higher. NZDUSD has broke high last seen on 1 Sept 2011 while AUDUSD went to 1.0560 (with China import demand getting higher) before heading down on poor jobs data. The Aussie employment change was -36.1K against -6.7K forecasted and down from 74K previous month. Unemployment rate climb 0.2% from 5.4% to 5.6%.

EURJPY continues to climb to 130.50 level and headed down after failure to break that level. The movement upwards pulled EURUSD up to 1.3120 but failed to sustain afterwhich. GBPUSD continues to climb after hitting previous high support level.

As follows are the updated analysis: (click on them to view) 🙂

EURUSD 11APR13 AUDUSD 11APR13 GBPUSD 11APR13

Updates on AUD, GBP, EUR

This week we have no seen much news influencing the volatility of the majors pairs (except for JPY).

The Oceania countries posted higher business confidence on Tues causing both NZDUSD & AUDUSD to climb higher. NZDUSD has broke high last seen on 1 Sept 2011 while AUDUSD went to 1.0560 (with China import demand getting higher) before heading down on poor jobs data. The Aussie employment change was -36.1K against -6.7K forecasted and down from 74K previous month. Unemployment rate climb 0.2% from 5.4% to 5.6%.

EURJPY continues to climb to 130.50 level and headed down after failure to break that level. The movement upwards pulled EURUSD up to 1.3120 but failed to sustain afterwhich. GBPUSD continues to climb after hitting previous high support level.

As follows are the updated analysis: (click on them to view) 🙂

AUDUSD 11APR13 EURUSD 11APR13 GBPUSD 11APR13

Weekly Update Week 15

Last week the newly appointed BOJ Haruhiko Kuroda unveiled the world most intense burst of monetary easing, an amount comparable to what the Fed has been doing. Given that the Japan economy is only the third largest in the world while the U.S the largest economy in the world, yet the quantitative easing measure by the Bank of Japan shows that they are really damn serious about reviving Japan’s economy by weakening the Japanese yen and try to boost export back to it’s level.  All major yen pairs depreciated by at least 600 pips. As of today, the USDJPY by 6.5%, GBPJPY by 8.08%, EURJPY by 7.83%, AUDJPY by 5.62%.

At the same time, EURUSD and GBPUSD both reversed it trend and seems to be on the retracement movement for now. We have seen one of the worse Non-farm Employment change in the U.S, creating 88 thousands jobs only in the month of March. The last seen poor data was in June 2012.

As a result, previous position all hit SL before taking profits.

As follows are the updates on AUDUSD 9APR EURUSD 9APR13 GBPUSD 9APR13

Poor ISM manufacturing data, RBA holds rate and poor Italy & U.K PMIs

AUDUSD rebounded after hitting near support level (38.2% retracement or near window gap support) and now trading at 1.0450-70 range, probably will be heading up to 1.0500 level if it did not 1.0430 leevel. At 1.0500, we are expecting some resistance and looking out for any breakout of 1.0500 level.

Today  RBA has held interest rate still at 3.00% as aligned with market forecast. As attached is AUDUSD analysis.

AUDUSD 2APR

 

EURUSD traded 1.2825 in 10.30pm (GMT+8) after hitting previous low resistance (1.2880) level and continued downtrend. Italy released manufacturing PMI worse than expected, marking the 20th consecutive pessimistic view on the country’s economy. Similarly, Spain has showed poor manufacturing PMI (a level below 50) for 23 months. Below are the updated analysis on EURUSD. The unemployment rate in EUR remains 12% (revised from 11.9% previously).

EURUSD 2APR13

 

GBPUSD traded at 1.5120 (GMT +8) after hitting previous low resistance (a strong resistance level of 1.5240-60 range) and continued its downtrend. The released of poor U.K manufacturing PMI gave the “bears” taker opportunity to enter their trade. GBPUSD fell from 1.5250 down to 1.5120 after the release of poor than expected PMIs. Therefore, there is still a possibility that the U.K may face triple dip recession.

GBPUSD 2APR13

Looking ahead for EURUSD, GBPUSD, AUDUSD

This coming week we will be expecting low volatility on Monday as most banks will be on holidays. However, we do have China Manufacturing PMI and it is forecast that China PMI to be higher from 50.1 to 51.6. This economic data expecting to influence the movement of AUD.  Later on at night, U.S will be releasing its ISM Manufacturing PMI. (Important to see how U.S is recovering)

Following next is central banks releasing on its monetary policies decision as well as countries PMIs. Of course, most importantly we are awaiting to see U.S. jobless rate and unemployment claims on the first Friday of April.

Week 14 focus will be on the AUD, GBP and EUR pairs.

GBPUSD 31MAR13

EURUSD 31MAR13

AUDUSD 31MAR

Italy President Giorgio Napolitano will be staying till his end of term (expecting to end around 15 May) to make way for new parliamentary elections after the latest Italy election left Italy in a political deadlock.  Currently there is no majority of a party in the parliament which gave more uncertainty in the Eurozone. At the same time, Cyprus has implemented harsh austerity in return for the bailout request to prevent the nation from default. This will be giving more downward pressure on the Eurozone and its neighbour U.K

Source: http://www.reuters.com/article/2013/03/30/us-italy-vote-idUSBRE92R0G820130330