Forex Blog by Greg Secker

Currency : EUR/USD
News: In December the U.S. Budget Deficit reached USD91.9bil
Daily Forecast: BULLISH
Open: 1.4509
Current Price: 1.4536

Currency :GBP/USD
News:Andrew Sentence States that the MPC might choose to pause its Stimulus program
Daily Forecast:CONSOLIDATING
Open: 1.6276
Current Price: 1.6290

Currency :USD/JPY
News:Japans Core Machinery Orders in November – 11.3 % m/m (expectations + 0.2 %) from – 4.5% the previous month – 20.5 % y/y (expectations – 10.2 %)
Daily Forecast:BULLISH
Open:91.36
Current Price: 91.81

Currency :USD/CAD
News:Gold Price improved, CAD is strongly linked to this commodity
Daily Forecast:BEARISH
Open:1.0307
Current Price: 1.0303

Currency :USD/CHF
News:No significant news as yet
Daily Forecast:BEARISH
Open:1.0181
Current Price: 1.0187

Currency :AUD/USD
News:Australian unemployment rate at 5.5 % in December (expectations 5.8 %) from 5.7 % in November 35,200 jobs added to the Australian workforce in December much higher than expectations of 10,000
Daily Forecast:BULLISH
Open:0.9237
Current Price: 0.9310

Currency :NZD/USD
News:New Zealand Building Consents for November + 1.2 % from + 10.7 % in October
Daily Forecast:BULLISH
Open:0.7402
Current Price: 0.7418

By Ultimate Forex Profits

Currency: GBP/USD
Daily Forecast:Andrew Sentance declares quantitative easing a success. Interest rates may have to rise to hold back prices.
Consolidating
Open: 1.4418
Current Price: 1.6211

Currency:USD/JPY
News:Japanese December Corporate Bankruptcies -16.59 % y/y Consolidating
Open: 90.94
Current Price: 91.40

Currency:USD/CAD
News:In November Canada Trade Deficit reached CAD344mil.
Daily Forecast:Bearish
Open: 1.0386
Current Price: 1.0383

Currency:USD/CHF
News:Yesterday, Global equities and commodity prices fell, good for the CHF.
Daily Forecast:Bearish
Open: 1.0185
Current Price: 1.0208

Currency:AUD/USD
Daily Forecast:China increased reserve requirement, risk aversion then picked up
Daily Forecast:Bullish
Open: 0.9197
Current Price: 0.9242

Currency:NZD/USD
News:New Zealand ANZ Commodity Price Index in December +2.6 %
Daily Forecast:Bullish
Open0.7382
Current Price: 0.7405

Due for release today is the GBP Manufacturing Production m/m, GBP NIESR GDP Estimate, USD Beige Book , NZD Building Consents m/m and USD Beige Book.

By Ultimate Forex Profits

The EUR/USD pair has shown strength this morning up at the 1.4485 level. Today the EUR/USD’s rebound extends further to as high as 1.4532 today and a potentially a further rise could still be seen. This morning Cable has risen to the 1.6097 level. The Morning the USD/JPY pair has shown weakness and is currently down at the 92.43 level.

Due for release today the CHF Retail Sales y/y/, CAD Housing Starts, CAD Building Permits m/m, CAD BOC Business Outlook Survey and the NZD NZIER Business Confidence .

By Ultimate Forex Profits

The EUR/USD pair has shown strength currently up at the 1.4317 level. Today cable, is currently at the 1.5973 level rising a little higher in early European trade. This morning the JPY/USD pair has shown weakness and is currently down at the 93.20 mark. Yesterday, Japans’ new finance minister called for a weaker yen and said he would work with the Bank of Japan to achieve an appropriate level.

Due for release today is the GBP PPI Input m/m, CAD Employment Change, CAD Unemployment Change, USD Non-Farm Employment Change and USD Unemployment Rate.

By Ultimate Forex Profits

Today the EUR/USD pair has shown weakness and is currently down at the 1.4390 level. This morning cable has shown weakness and has currently dropped to the 1.5960 level at the time of writing. U.S. housing starts likely to stabilise, to cease to be drag on GDP. U.S. labour market improving, close to time when employment rate will start falling. Inflation risk for U.S. is not next year, more a 2-5 year horizon. Today, the JPY/USD pair has shown strength and is currently up from its open at the 92.66 level. New Japanese Finance Minister Kan gave a press conference at 06:30 GMT and stated the following: Japan fiscal reform basically depends on boosting demand. Japan should review budget in view of the fact cash reserves in special accounts are limited. Japan must work with BOJ to bring yen to appropriate levels. Japan has barely won market confidence by keeping to 2010/11 new JGB issuance target.

Due for release today is the GBP Halifax HPI m/m, GBP Asset Purchase Facility, MPC Rate Statement, Official Bank Rate, USD Unemployment Claims and CAD Ivey PMI.

By Ultimate Forex Profits

Today, the EUR/USD pair has shown weakness and is currently down at the 1.4354 level. Euro zone December services PMI (final) has been revised downward very fractionally, to 53.6 from flash 53.7 and compared with 53.0 in November.  Still a 25-month high though. This morning, Cable has shown strength and is currently at the 1.6029 mark. The JPY/USD pair has shown strength and is currently up at the 92.26 level. The Nikkei has closed unofficially higher by 0.46% this is the highest the index has closed in 15 months.

Due for release today is the EUR Final Services PMI, EUR Industrial New Orders m/m, USD ADP Non-Farm Employment Change, USD ISM Non-Manufacturing PMI, Crude Oil Inventories, USD FOCOM Meeting Minutes, AUD Retail Sales m/m and AUD Trade Balance.

By Ultimate Forex Profits

This morning the EUR/USD pair has shown strength and is currently up at the 1.4463 level, firmer from a North American close on Monday down around 1.4410.  This morning cable has also shown strength currently up at the 1.6132 mark, against the backdrop of general USD weakness. Resistances now 1.6150/55 and 1.6190/00. This morning the JPY/USD pair has shown weakness and is currently down at the 91.87 level.

Due for release today is the USD Pending Home Sales and the AUD Building Approvals m/m.

By Ultimate Forex Profits

Today, the EUR/USD pair has shown weakness and is currently down at the 1.4315 mark. The market already seems have an eye on the US jobs report due on Friday and also the possibility of more improvement.  This morning cable has shown weakness and is currently down at around the 1.6133 level from its open of 1.6168. Today all data comes at 09:30 GMT, UK mortgage approvals for November expected 57.8k, Net lending sec on dwelling for November expected +£0.9 bln, PMI manufacturing for December expected 52.0 from 51.8, M4 money supply for November (final) and Net consumer credit for November expected -£0.4 bln. The JPY/USD pair has recovered from early losses and is just below it’s open at the 92.94 level.

Due for release today is the GBP Manufacturing PMI and the USD ISM Manufacturing PMI.

By Ultimate Forex Profits