Tag Archives: week
US Weekly Jobless Claims Fall to 472,000
New claims for jobless benefits for the week ending August 28th fell by 6,000 to 472,000 compared to the previous week. Continue reading
The World’s largest economy needs stimulus….Take that bet?
The market is suffering withdrawal symptoms, especially after last Friday’s anemic US employment report. With little data for guidance today, traders will have to go ‘cold turkey’, with no fix, until Bernanke and the boys command center stage tomorrow afternoon Continue reading
Emerging Trends in FX
I’d like to share Abe Cofnas’ outlook for the week ahead in FX. Abe has been trading FX and teaching other how to trade for years and I think you’ll find his insight valuable. The Majors are at the start of the week providing some challenges as some are testing key Resistance and Support levels. Let’s scan the market using basic Resistance and Support. Support and Resistance tell us a lot about the battle between buyers and sellers. Keep in mind that a currency pair, when at a key resistance or support line is there for a “reason”. The currency pair reacts to sentiment about the underlying economy and prospects for growth, or inflation. This means that the day chart points to barriers that are quite important Continue reading
US Jobless Claims Fall by 11,000
The number of new claims for jobless benefits for the week ended July 24th, fell by 11,000 from the week before to 457,000 new claims. Overall however, the number of people receiving unemployment benefits increased raising concerns that job growth in the US is slowing Continue reading
Discipline trading required as the EUR grinds higher
Without the US consumer on board, economic recovery looks vulnerable. Yesterday’s falling consumer confidence print and the growing likelihood of a double-dip in house prices is shaping up for US GDP growth to slow in the second half of this year Continue reading
Holding a EUR position is playing with fire
Is it enough to convince investors? European regulators found that ‘only’ seven banks need to raise a combined EUR3.5b of capital. From all the monies that have been given out and promised by various Governments the sum sounds like pittance. Continue reading
Canada’s June Inflation Rate at 1%
According to Statistics Canada, Canada’s national inflation rate was 1.0 per cent in June. All provinces recorded positive growth, but in several cases, the rate of growth declined from the previous month, reinforcing Bank of Canada Governor Mark Carney’s statements earlier in the week where he predicted Canada’s rate of growth would slow in the second half of the year Continue reading
Investors Having Second Thoughts on Oil
Crude prices were on the decline Friday as investors took a breather on concerns that speculation pushing oil to an 11-week high was too ambitious. Positive earnings news in the US and demand in China has seen oil gain nearly 4 percent this week alone. “We are now at the upper end of the trading range and should come off, unless something unexpected happens,” said Carsten Fritsch, a Commerzbank AG analyst in Frankfurt. Continue reading