Euro against major currencies...
EUR/USD 0/- We will prefer to sell rallies to 1.2370 for push back to 1.2280. Stop are above 1.2410.
EUR/JPY EUR vs JPY is natural, We See support at 110.10 holding. Ranging 110.0-111.30. 2010-06-27 20:53:52
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Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co.’s investment bank slashed their compensation in the 4th quarter, responding to political pressure that will probably persist as details of bonuses for their top executives emerge in coming weeks.
The three Wall Street firms set aside $39.9 billion for pay in 2009, below the 2007 record of $44.7 billion. The total fell short of the $46.1 billion five analysts expected this month and is almost $10 billion less than what some analysts estimated in October 2009.
The Bank of Canada left rates unchanged at 0.25% as expected but again commented that repeated CAD strength would act as a “significant further drag on growth. The BOC also revised lower its 2009 and 2010 growth forecasts, but upped its prediction for 2011, and added that rates are expected to be held at 0.25% at least until the end of H1 2010. Net/net seen as a slight negative and helped the USD/CAD rebound.
Economy and Forex Market Major Headlines - Previous Session
- Canada Dec. leading Indicators out at +1.5% m/m vs. +1.0% expected and +1.3% prior
- Canada Bank of Canada leaves interest rates unchanged at 0.25%
- USA Jan. NAHB Housing Index out at 15 vs. 17 expected and 16 prior
- NZ Q4 Consumer Prices out at -0.2% q/q, +2.0% y/y vs. flat/+2.1% expected and 1.3%/1.7% prior resp.
- USA Weekly ABC Consumer Confidence out at -49 vs. -44 expected and -47 prior
- AU Jan. Westpac Consumer Confidence out at 5.6% vs. -3.8% prior
- Japan Nov. Tertiary Industry Index out at -0.2% m/m, as expected, vs. revised +0.4% prior
- AU Jan. DEWR Skilled Vacancies out at +1.1% m/m vs. revised +1.6% prior
- Japan Dec. Final Machine Tool Orders out at 63.4% y/y vs. +62.8% previously
Commodity-bloc currencies also moved lower in tandem with AUD slipping some 1.2% against the greenback. CAD was also in retreat, pressured further by data which showed the trade balance slipping back into deficit in November after a small C$0.5 billion surplus in October. GBP was one of the rare over-performers against the dollar overnight.
Major Economics and Forex Market Headlines - Previous Session
- USA Dec. NFIB Small Business Optimism out at 88.0 vs. 88.3 prior
- Canada Nov. Int’l Merchandise Trade out at –C$0.3 billion vs. +C$0.5 billion expected and revised +C$0.5 billion prior
- Canada Nov. New Housing Price Index out at +0.4% m/m vs. +0.3% expected and +0.3% prior
- USA Nov. Trade Balance out at -$36.4 billion vs. -$34.6 billion expected and revised -$33.2 bln prior
- USA Jan. IBD/TIPP Economic Optimism out at 48.8 vs. 48.5 expected and 46.8 prior
- USA Weekly ABC Consumer Confidence out at -47 vs. -41 prior
- NZ Dec. ANZ Commodity Price out at +2.6% vs. +10.5% prior
- Japan Dec. Bankruptcies out at -16.6% y/y vs. -11.4% prior
- Japan Dec. Machine Tool Orders out at +62.8% y/y vs. -8.4% prior
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Major Currencies Daily Heat Table
Daily Currencies Heat Table Update: Daily GMT +5:00
Daily Gold, Oil and Silver Futures...
Gold is leading again. Buy at the break of 1244.450 targeting 1251. Sell below 1290.
Buy on dips towards 18.66 targeting 18.76.
Sell at the break of 76.03 targeting 75.65.
Monetary Policy Focus
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US Dollar Index Chart
Forex Sentiment Indicator
Central Banks Interest Rates
|EMU / EURO||1%|
G-20 Economy & Updates!
Pakistan Economic Indicators
|Per Cap Income||$1046|
|Monthly|| July |
|Trade Balance||$-1.15 bln|
Weekly August 18, 2009
|Reserves|| $11.846 bln |