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Technical analysis of forex 06/03/2012

 
USD-CHF For today, in the absence of macroeconomic indicators as part of Switzerland that the U.S. side, it will base the analysis on the results from yesterday, and on technical indicators. Yesterday the U.S., the ISM non-manufacturing expected by analysts at 56.1 was higher by 1.2 points to 57.3. However, the greenback has not benefited. This morning, the USD / CHF opened the day down slightly to 0.9120 against 0.9124 at the close yesterday. The price should find support at 0.8938 and resistance at 0.9148. During the day the USD / CHF should move in a channel between 0.8900 and 0.9170 after a bullish trend.
EUR-USD After having been close to the level of $ 1.35 last week, the euro appears to be stabilizing earlier this week at 1.3200. Retail sales in Europe reached a better than expected at 0.3% of currency traders, which could be interpreted as positive for the currency of 17. Today, we must focus on the release of GDP data (Quarterly) Europe, which analysts predict a growth rate unchanged at -0.3%. In this context, the EUR / USD opened the day at the same level as the day before closing at 1.3217. This currency pair should find support at 1.3160 ​​and resistance at 1.3478. During the day the price should move in a channel between 1.3100 and 1.3500 following a downward trend.
USD-JPY Earlier today, the U.S. dollar is stronger than the Japanese yen. Despite this, the Japanese currency has always favored by traders, especially in the carry trade strategies. In this context, the USD / JPY opened the session up slightly to 81.5600 against 81.5500 at the close yesterday. This currency pair should find support at 80.31 and resistance at 81.86. During the day, the USD / JPY should move in a channel between 80.00 and 82.00 after an uptrend.
EUR-CHF Because the floor price imposed by the Swiss central bank in the EUR / CHF currency pair continues its evolution side without a definite trend for the moment. Today, the EUR / CHF begins the day with slight decline in 1.2059 against 1.2060 at the close yesterday. Given the low volatility, the pair should evolve for today’s sitting in a tight channel, between 1.20 and 1.21.In absence of a trend, it is not advisable to position this pair in the coming days.
GBP -USD In the early morning, the publication of the Halifax house price index was an unpleasant surprise for traders with a fall to -0.5% against an expected rise to 0.3%, which obviously has accentuated the decline of sterling in an already difficult context marked by a resumption of risk aversion. The downward trend of the cross should be confirmed in the day, and could lead the pair to a low of 1.5732. However, we remain optimistic for the coming days because of a technical viewpoint, the rebound is possible.

 

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The EURUSD paused like the CAC 40 index and other European 06/03/2012

The main European stock markets opened Tuesday following the downturn trend began in Asian markets. Investors, as a whole are concerned about the consequences of the economic downturn and Chinese are also expressed fears about the Irish referendum. In this context, the Eurodollar opened down this morning, falling below the level of 1.32.

Focus on the fundamentals of the day EURUSD:

Concerns about a slowing Chinese economy but also concerns about the proposed referendum in Ireland, which has particularly boosted since February 28, the borrowing rate to ten years in Dublin, shake the financial markets.
To this, we also added the message sent by Athens, which was rather coolly received by traders . Greece has indeed expressed its willingness to constrain its private creditors to take losses on Greek debt. Private investors have until Thursday to say whether they intend to or not participate in the exchange of debt that should allow Greece to erase more than 100 billion euros of its debt, as part of its second Rescue 130 billion euros. This move will, which is necessary, is undervalued by investors.

EURUSD scenario of the day:

The trend should continue to be bearish for the pair in the coming hours. It is likely that the cross moves between 1.3176 and 1.3257 with 1.3209 for the main pivot point. This means, in other words, that the Eurodollar should continue to be close to 1.32. The release of GDP Eurozone in the fourth quarter contracted by 0.3% over the third has not changed that. The fact that the euro area has, however, a growth of 1.4% in 2011 (against 1.7% in the U.S.) has certainly limited the decline of the euro.
Note also that the lack of trend on the cross is also the result of the break seen yesterday on equity markets. After significant gains since January, equity markets do not have enough fuel to go beyond. It is also the dominant scenario for the euro. Despite a nagging crisis, the resilience of the currency of 17 is admirable but there is enough good news to consider a new bounce in the immediate future.

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Forex: EUR / USD – Technical Report 19/12/2011

Currency pair EUR / USD experienced one of the worst weeks for the last time, and the deepest recorded weekly losses for the last about three months. The reason for the relatively rapid disenchantment of the exaggerated expectations of the outcome of EU summit. These markets is not satisfied and, moreover, greatly increased concerns about possible reductions in ratings of European countries.

Current price of EUR / USD is: 1.3023

The EUR / USD remains strong downward trend with a slight correction above 1.3000 level and it seems as if the buyers disappeared. In order to correct for significant levels of 1.3150 and 1.3200, it is necessary to overcome resistance in the zone nearest 1.3065 to 1.3075. At the bottom of the short-term support level at 1.2940 / 50, which is the minimum price from last week. Another objective is then an annual minimum 1.2875.

Support levels: 1.2980, 1.2950, ​​1.2880
Resistance levels: 1.3070, 1.3150, 1.3200

A week before Christmas is too interesting not offer the macroeconomic indicators. The euro is worth mentioning the German Ifo index, which will be published on Tuesday and the United States, then we will see some of the data of the local real estate market.

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EURUSD – intraday update: The course remains in the downward trend

Currency pair is in a slightly downward trend, moving below the pivot intradenního 1305 and EURUSD is currently trading at 1.3014 EURUSD. 20hodinové Bollingerovo band relative strength or oscillator RSI provides no clear signal to enter the position. Preferred intraday scenario allows for the weakening of the euro to the level of 1295 EURUSD. Current value: 1.3014 pivotal level: 1.305 Preferred scenario: SHORT positions. If the currency pair keep below the pivot intradenního in 1305, then the target level of 1.295 and 1.288. Alternative scenario: Long position. If the currency pair breaks through the surface intradenního pivot upward course has room to grow to 1.31 and 1.316. intraday trend may change during the day, watch the updated several times daily EURUSD technical analysis  HERE . Key technical levels: 1.316 1.31 1.305 a , 3014 (last price) 1.295 1.288 1.2855 Comments: Fitch on Friday gave rating 6 euro area countries negative outlook and warned against the increasing risk of recession in Europe. The euro is again under pressure, and today you could be attributed to additional losses. Preferred intraday scenario allows for the weakening of the euro to the level of 1295 EURUSD.

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Technical analysis of forex 19/12/2011

 

 
USD-CHF  This season is very positive for the dollar, which appreciated to 0.9235 to 0.9548 during the previous week. We gave a channel fluctuation between 0.90-0.95 and it was temporarily broken by the top before taking a strong return of the Swiss franc after the meeting of the NBS, however, clearly shows that its objectives of reducing the strength of the franc. For this new week, we give the channel of 0.91-0.95.
EUR-USD The EUR / USD broke for the second time in 2011 the threshold of 1.3000, approaching the lowest January 10 (1.2867). Indeed, parity was down 1.3386 to 1.2946, in a market made nervous with decreasing liquidity in the approach of the festive season. The situation will get worse it in the days to come? We believe that the negative elements are now incorporated into the price and we can find a support near the 1.3000 mark. We give for the upcoming sessions of the range 1.28-1.33.
USD-JPY The USD / JPY again behaves like a fixed exchange rate fluctuations … minimum is again on the parity, from 77.56 to 78.17 for the past week. For cons, the EUR / JPY cross is still suffering the weakness of the euro, falling to 101.05 from 103.98. The yen is likely to remain a reference currency for this season and the beginning of next year and only the Bank of Japan will keep its assessment. Channel fluctuation for the week of 77.00-78.50 and 100-104.
EUR-CHF The SNB are not going to drop his bones … At the last meeting of our national monetary institute, it reiterated its determination to weaken the Swiss franc to help the Swiss economy, which currently suffers from the value of its currency. The cross remained in the channel of 1.2184-1.2397 during the past week and now we are in the 1.20-1.25 channel since September 6. This fluctuation is expected to continue for a few weeks.
GBP -USD With the refusal of the United Kingdom to join the EU project, the pound has appreciated against the euro, from 0.8554 to 0.8373, approaching the lowest in 2011. For Cable, the fluctuations were as follows: 1.5409-1.5662.We are left with a negative notice for the United Kingdom, but the United States and Europe are in the same case. So we rely on a status quo of current between 0.83 and 0.85 and 1.53-1.57.

 

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Focus on Forexclusivity

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A TOP 10 Books Forex crosses the 10 books on forex the most widely read and ordered on the famous online bookstore Amazon. A summary of the works and the back cover.

A Top 10 iPhone Applications Forex lists all the applications most critical to traders on the currency market and CFD’s. A detail of the application and screenshots will help you make a crazy idea very simply the quality of applications and tested for you.

The Top 10 RSS and Forex Signals is a digest of the best RSS and economic and financial signals Forexclusivity.com tested, accessible in one click and allows investors as well as options Forex Binary to keep abreast of real-time market developments in order to react in time and adapt its positions.

The 10 TOP Forex Brokers is a comprehensive comparison of the 10 brokers Forex hottest and access appropriate to exclusive bonuses. The characteristics tested are the age of the broker market, the type of regulation, the minimum deposit, the maximum leverage and obviously the number of currencies that can be trader, broker parameters vary greatly by broker .

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The Technical Analysis of Binary Options (introduction)

General Description of Technical Analysis

Technical analysis is the study of the value of financial assets in order to determine market trends, the latter being the basis of trading binary options. Professional traders making use of technical analysis believe that most of the available information to predict the evolution of a financial instrument is contained in the value of the asset itself.

Thus, the analysis of the value of a financial product, without reference to any outside agency, will enable analysts to determine what will be the future movements of the asset.

If it is often used indiscriminately, the term “Technical Analysis” covers a really broad range of techniques to determine the evolution of asset prices. Different techniques have elements of both objective and subjective, which can be confusing, which is why the sport is considered controversial.

Mastery of technical analysis is in any case be very useful to investors who wish to subscribe to a binary option or a position in forex to get out of a position, or to manage the level of risk their investments.

In this article into 5 parts, we will move forward to define and illustrate the main principles governing the analysis techniques.

1 / The study of market trends.

2 / The MACD (Moving Average Convergence Divergence).

3 / recognition scheme.

4 / The Theory of the Back to the Standard.

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Binaries: The Reasons for Boom!

 Why trading binary options it has grown exponentially?

Binary options are a relatively new type of financial instrument that quickly gained popularity in recent months. Indeed, binary options give investors an opportunity to make a strong return on investment by focusing on values ​​such as commodities, currency pairs, stocks, bonds and indices without having to expose themselves a heavy administration and especially to huge financial risks associated with live trading.

History Binaries

For many years, binary options were employed in the financial markets but it is only recently that they have gained recognition among the general public, through the development of suitable platforms fun. Previously, binary options were called “Vanilla Options” or “Exotic Options” and were negotiated by a handful of traders in the private financial exchanges. Before the democratization of the model, it was necessary to use a private broker which was very expensive, and which contained a large element of risk. Today, market access is direct, and everyone can become an investor and trader of Binary Options from his personal computer and even from his mobile phone with applications available to you by some brokers.

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Glossary of Binary Options

Active

An asset is an expectation value on the market. There are a large number of assets, including currency pairs, stocks, bonds, commodities or indices.

Underlying asset

The Underlying Asset is the product used for indexing a given binary option contract. He is the one whose value will be assessed at the time of expiration to determine whether the achievement of winning.

Broker (also called Broker)

The broker is the American call from the French word broker. It is a central player in the market of the assets exchanged as part of Forex trading or binary options. In general it is a company that mediates its customers so that they can exchange financial assets on the financial markets. The broker is one who buys and sells options or physically active instead of the trader.

Call (Call Option Type or High)

Model that the basic option trader, who subscribes to this option, set the increase in value of assets indexed to a specified future time.

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In the currency

When the value of the underlying asset is consistent with the condition signed by the trader, is said to be ‘in the money’, he wins so the sum.

Apart from the currency

When the value of the underlying asset does not support the condition signed by the trader, is said to be out of money ‘, he loses, therefore, the amount invested less than benefit, as c’ is sometimes the case, a loss of functionality of return, allowing a partial refund of the amount invested (usually 15%).

Low (Low Option type or put)

This option works exactly the same way as the call type option, but unlike the latter, this is a bet on the decline in value of assets indexed to a future time determined.

Time of expiry

This is the time preset in the binary option contract which will decide if the condition option has been achieved or not and therefore if the predetermined gain is due to the trader. This may be one day or preset a specific time, which may occur within minutes after endorsing a binary option contract.

Amount Invested

Amount allocated by the trader to subscribe to a specific option. It is this amount that is calculated performance of the binary option at the time of its completion in the event gain.

Binary Option

The binary option is actually an agreement, a contract that is linked to an asset called “the underlying asset”, it can be any type of asset swap, a currency pair, a stock, bond , a lot of raw materials or index. The contract provides that a predetermined future time x, the value of the underlying asset or not trigger payment of a predetermined gain, too. The three types of contracts are the standard call option or high (up), Low or Put Option (downward), the Zone or Range option (price range outline), and Option One Touch / No Touch (target price).

One Touch / No Touch (type Option)

Binary option contract determining the achievement of a given value or not suffering from a value given by the underlying asset at expiration as a condition of realization of the gain.

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Current Price

Price said the current ‘is the latest real-time quotes of the underlying asset.

Price expiry

This is the value of the underlying asset at the end as it was determined when subscribing to the option. This award will allow us to know whether the condition has been fulfilled or not, if we are ‘in the money’ or ‘to’ out of the money ‘and therefore if we won or lost.

Return loss

This is a feature offered by some brokers, and allows a partial refund of the amount invested by the investor on a binary option contract for non completion of the option.

On the currency

Uses the term “the currency” to describe the situation when the time of expiration is reached, the value of assets equals the value of the asset when the investor subscribes to the contract an option. In this case, investments are fully returned to the trader.

Rate of Return

The rate of return of an option is defined in advance in the binary option contract when the purchase takes place, it is calculated as a percentage of the investment. This is the benefit to be allocated to the investor in case of realization of the option.

Payment

The payment is the amount of money paid to the investor when the condition of realization of the option is realized. The sum is calculated from the rate of return of the amount invested by the trader of a binary option contract.

Zone (Zone Option type or Range)

Model option that the investor will have to determine whether the value of the underlying asset will fall in “in” or outside “out” a range of pre-determined price at the time of the under the contract expiration of binary option.

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How to choose a binary options broker

Introduction to binary options brokers

Binary options are a relatively new financial instrument on the currency market, most brokers having specialized in this type of trading for many have not been able to prove their reliability.However, the market is booming and competition is fierce, the primary beneficiary is the trader because brokers are increasing their tempting offers and guarantees to ensure a share of this market. This is reflected among other things, more flexible contract terms, a major effort in the quality of service and location of the trading platforms.

Despite this apparent consistency between different brokers, it is possible, when we are notified to differentiate brokers from each other by analyzing certain key factors.

Analyze the Terms and brokers offer all binary options

The most important aspect when asked about the choice of broker is undoubtedly the analysis of its proposed terms and conditions. Indeed, the basis of binary options trading is based on the principle of “all or nothing”, it is important to check the smallest detail that you get the best conditions. For example, brokers Binaries are remunerated by charging a fixed percentage of your winnings, usually equivalent to 30% of your winnings. So check in the contract or in the general conditions that the broker does not levy a higher percentage, and if so, it is advisable to go to find out from the competition.

Other contractual provisions relating to the commercial offer can also be taken into account in selecting the broker binary options. Take for example the famous offer to pay a small part of the investment in case of loss, that all brokers do not offer, or the variety of trading in financial assets, consider again the example of the time expiry offered (longer or shorter depending on the broker).

Invest safely in Binaries

After a comparative view of the above tips, you will know if a broker is right for you and if you want to invest through its platforms, or whether to go your way. Moreover, and regardless of the service provided by brokers, it is essential to check the credibility of the broker binary options. The market is still in its infancy, it is difficult to distinguish a serious broker to broker an amateur and once again it will do a search before you start, the best advice is to make a round of forums in order to make an idea. Unfortunately there are bad payers, and if you have suspicions about a broker, please continue your search.

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The evolution of binary options trader in three steps

The novice trader

The beginner trader’s primary goal is to learn the basics of binary options trading: It is essential to master the technical terms specific to this type of investment, detailed in our glossary.

The second step is to analyze the different types of options available in the industry, the options are the traditional option Up / Down, Touch / No-Touch Zone / Off-Zone.

Finally, it is essential from the start to the trader who engages in the binary options trading to know the different types of assets it is possible to trade: Currency Pairs, stocks, bonds, indices, commodities …

The intermediate trader

After being hand and recorded his first success, the trader will want to sharpen their trading techniques, analyzing the various trading strategies, exchanging advice forums with other traders, by the use of advanced resources such as books for binary options, signals etc. professionals.

The advanced trader

Once it has completed basic training and he mastered the instruments and tools needed to binary options trading, the trader must develop and, as professional traders in financial markets, help the market analysis by making use of fundamental analysis and technical analysis.

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Cover positions thanks to Forex Binary Options

The binary option as a hedging instrument forex position.

In addition to providing a novice traders simplified investment experience in the financial markets, binary options are a particularly useful tool for traders confirmed as part of a hedging positions taken on Forex platforms or directly the stock market.

Indeed, the percentage of high cost of binary options (up to 360% on certain types of positions in some brokers) and the low cost of initial investment makes it ideal cover for traders.

Why cover its positions through the use of Forex Binary Options?

First, binary options are indexed to the underlying assets to financial assets similar trades on the forex platforms, it is possible to cover almost any type of position.

In forex , traders have a very important leverage of up to 500:1, which sometimes makes trading extremely volatile even if it increases the profit, it also increases the risk of their positions.Therefore it may be necessary on some risky positions, to “cover the risk” by taking an opposite position.

For example, in a rising speculation of a value on a platform with Forex leverage, if the position is volatile because of the leverage too high, or an unexpected economic announcements likely to result in a reversal, it is worth investing a lesser amount of a binary option-type LOW indexed on the same asset, in order to partially offset the losses due to declining asset values.

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The use of a hedging strategy is of great importance in that it reduces the risk of loss but can also in some cases have the advantage of producing very serious profits.

Obviously, it is up to each trader to develop its own strategy and the best way to do this is to test this strategy using a demo account available on request by most forex platform, and if one insists a recently also by the binary options brokers (who often do not take the risk of losing a customer for that reason alone).

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What are binary options trading

What is binary options trading?

Trading binary options trading is a way of simplified, halfway between the classical trading on financial markets and the bet.

Explanation: The classic trading is to buy a financial asset that can be a stock of listed companies, bond, foreign currency, or a lot of raw materials like gold or oil, and speculate on the rise, hoping the sell at lower prices and make a profit. The method is proven, but the gains are generally mild and may take months or years to make big gains, as most traditional financial assets have stable prices. For example, gold has had a rate of change of 12.71% for the year 2011, which is considered a major change!

In contrast, the bet, the casino is to bet an amount on an event on which we have no control in general (a bet on an odd or even number in roulette). However, the gains are then 100% of the amount invested and involved in just seconds!

Binary options are located halfway between the two, since when buying a binary option, we will actually bet on the movement of the value of a financial asset in the short term, all in three easy steps to understand , described below.

Practical example of a binary option trading.

Reading the news online, I read a news and headlines – “AFP: A famous rating agency has downgraded Societe Generale.” So I decided to log on the trading platform of my favorite broker to take advantage of this information and realize a gain on the likely devaluation of the Societe Generale shares.

The binary options trading simply requires achieving the following three steps:

1. I choose a financial asset (eg a share of the Société Générale).

2. I bet on a type of movement (eg, “the value of the Societe Generale shares will decline over the next half hour”), this type of movement is called “binary option”.

3. I put an amount on this binary option (I decide to bet $ 2000 because I am on my shot).

If within half an hour after setting the value of the option Societe Generale fell, I earn a fixed amount set in advance (usually 85%) of the amount wagered, in this case $ 1.700! All in half an hour.

Unlike conventional trading, so I can gain a much higher and much faster, and unlike the game of chance, I have control over my decision since I stay current with economic information an immediate impact on the price of financial assets, all of which are analyzed to know.

If you’re new binary options, you will find our site many articles and general articles about the advanced strategies of binary options trading.

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The economic news of December 14, 2011

The SECO forecasts for the Swiss economy were published yesterday.
In France, consumer prices rose 0.3% over the month in November, bringing the annual increase to 2.5%. Last October, the price increase was 0.2% over the month. Note that in Greece, a two-day meeting bringing together the Greek authorities and private creditors in terms of debt swap ended yesterday without agreement. However, the consultations should continue.

Finally, the International Energy Agency (IEA) revised sharply downward its forecast for global oil demand this year and next year because of the difficult international economic environment and high prices. According to the monthly report of the IEA, oil consumption is expected to be 160,000 barrels per day less than expected earlier in 2011, and 200,000 barrels per day less than expected in 2012, consumption of 90.3 million barrels per day (bpd).

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Technical analysis of forex 12/12/2011

 
USD-CHF  The trade balance in the United States recorded a deficit of -43.5 billion dollars for the month of October and the confidence index from the University of Michigan appreciated sharply, to 67.7. Of all the past week, the channel of the USD / CHD has shown once again very small, between 0.9166 and 0.9296. Will we see a “rally” season on the dollar, with a return on the highest levels in 2011? Everything seems possible … We provide a channel fluctuation 0.90-0.95 for the new week.
EUR-USD In the storm of European sovereign debt crisis, the EUR / USD stabilized on levels that we had given earlier in the week, with a range of 1.3200-1.3600.The maximum fluctuations were as follows: 1.3283-1.3487. Decisions fell at the summit of the Union will allow the euro area to breathe a little and put in place the necessary measures to stabilize the sovereign deficits. We give the same channel, ie 1.3200-1.3600, for this week.
USD-JPY The USD / JPY has once again displayed an exemplary stability during the past week, with extremes between 77.13 and 78.1. The EUR / JPY cross was confined meanwhile between 103.01 and 105.00. What to expect from this new week, except for no change, that central banks will try to maintain in order to avoid additional concerns about the exchange rates? These have been a substantial economic war that year. For the next five sessions, we choose the channels fluctuation follows: 76.50-78.50 and 102-105.
EUR-CHF Week of Living Dangerously ended with an almost unanimous decision to undertake the necessary measures to safeguard the economic zone. The cross EUR / CHF, which could be attacked by speculators, has not experienced large fluctuations during the past week, with a total range between 1.2315 and 1.2443. The SNB is currently the course it has set, but it is clear that the economy is still suffering greatly from the strong Swiss franc. For this week, we recommend a line of 1.2250-1.2500.
GBP -USD The UK has not adhered to the decisions of the European Union and is found outside of it. The book has not been particular pressure with this decision and the channel fluctuation recorded during the past week has been: 1.5561-1.5770. The cross EUR / GBP 0.8496 and 0.8613 between sailing. For the next few days, we do not anticipate any particular direction and focusing on the following channels: 1.54-1.58 and 0.8475-0.8675.

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The economic news of December 9, 2011

Yesterday, the central bank of South Korea has kept its rates for the sixth consecutive month in a difficult context, marked by fears of a recession and the necessary fight against inflation, which reached 4% in the country.

The Central Bank of Iceland has acted similarly by keeping interest rates unchanged at 4.75% as the Bank of England has kept interest rates at 0.5%.

Moreover, the central bank of Argentina confirmed the likely slowdown in economic growth next year to 6% against 9% expected this year. Argentina displays, despite the projected decline in GDP, a record activity in the world, thanks to the good health of its agricultural sector and measures to support domestic demand made by the government.

In France, the BoF confirmed predict zero growth of the economy in the fourth quarter 2011, based in particular on the results of its monthly business survey. Thus, the business climate indicator in industry decreased by one point in November to 95 points and the service remained at 95.

Note that the rating agency Dagong has downgraded the sovereign debt of France to “AA-” to “A +”.
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Technical analysis of forex 09/12/2011

 

 
USD-CHF Applications for unemployment benefits in the United States fall to 381,000, against 404,000 the previous week. The correct figure was not reflected in the dollar, as the decisions of the ECB and the Bank of England … The comments by Angela Merkel, Nicolas Sarkozy, Mario Draghi, and many other figures are alarming and the survival of the euro area could be a matter of time if the summit of the EU were to fail! The USD / CHF, with the exception of a fall from 0.9248 to 0.9176 after the ECB decision, followed by an almost immediate return on the levels of 0.9289, has remained a surprisingly lethargic. Finally this week, the channel of 0.9175-0.9300 should be valid.
EUR-USD  The summit of the EU may decide to bring forward the launch date of the MES (European Stability Mechanism) in 2012 instead of mid-2013. The ECB has taken numerous steps to prevent a liquidity crisis in the euro area, including two LTRO (long-term refinancing operations) to 36 months with indexing refinancing rate (currently 1.00%) and a repayment option after 12 months. These operations replace LTRO to 12 months. According to the ECB, the downside risks are high, which was true yesterday for the EUR / USD, which is mounted in a first step to 1.3459 before falling heavily to 1.3289.We could finish the week close to 1.3250 …
USD-JPY  The USD / JPY, which had managed to stay close to 78.00 throughout the week, strongly folded yesterday with European and American pessimistic statements. Parity decreased from 77.70 to 77.13, while EUR / JPY cross fell back to 103.01 from 104.24. The fear that Europe will fall again to the role of safe haven in the yen and we could go back to the 75 and 100 in the near future. Japanese GNP has been published up 1.4% q / q and 5.6% year / year. We give the channels 77-78 and 102.75-104.25 for this Friday.
EUR-CHF The SNB injected liquidity in the repo (“cash giver”) rate at 1 week and 1 month to -0.15%. These operations, which are held for several days, show the will of the SNB to flood the money market Swiss francs and try to bring down the Swiss franc on the foreign exchange market. The cross does not benefit from these measures, the fear that leads to the summit of the EU this weekend … The cross is down 1.2403 to 1.2327 yesterday and we maintain the given channel yesterday, 1.2300-1.2425 .
GBP -USD The Cable has lost all its gains yesterday, with a decline of 1.5770 to 1.5607 after the meeting of the Bank of England and the ECB. The black clouds that accumulate over Europe going to turn into a storm or leave their place in the sun? In the UK, the index of producer prices and the trade balance, are expected in the UK today. In the United States is the trade balance and the confidence index from the University of Michigan to be published. We give the channel of 1.5550-1.5700 for the weekend.
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EUR USD Analysis: Towards a relative failure of the European Summit 09/12/2011

The announcement of the economic opportunities of the ECB and the refusal of a sizeable debt-troubled countries of the eurozone have depressed the market before the EU summit. Following the announcements of the ECB boss, Mario Draghi , a real market downturn took place yesterday.

Fundamental analysis of the day EURUSD

As expected, the ECB decreased its key interest rate 0.25% for the second time in two months, to 1%, its lowest level since the introduction of the euro. Moreover, it also announced a package of measures to facilitate access to liquidity to banks through the establishment of two loans of unlimited three-year fixed rate via a relaxation of the assurances required banks to access these loans.

However, these measures were not enough to reassure the markets as they awaited the announcement of a sizeable sovereign bonds of eurozone countries in difficulty. To this must be added that the downward revision of the economic outlook for the next two years also weighed heavily in the investment strategies of traders yesterday.Growth prospects for 2012 increased from 1.3% to 0.3% against a background of declining inflation , opening the door to further rate cuts in coming months. In an atmosphere of deception, the euro opened the day down 0.16% against the U.S. dollar at 1.3312 dollar and the CAC 40 yields 0.78% in early trade at 3071.19 points.

Some progress has also been noted in Brussels but they are not quick to restore confidence. An agreement was reached during the night to strengthen fiscal discipline in the euro area, that agreement will be adopted only 17 because of the refusal of the United Kingdom. Moreover, now, the ECB will manage both the European Financial Stability Fund (EFSF) that the future European Stability Mechanism (MES) to increase confidence in these funds.

For the rest of the day, the economic calendar is almost empty for the common currency, with the exception of the publication of the French government’s budget balance, which was submitted at 8:45 am (Paris time) with a slightly more positive that expected. Investors will therefore focus the rest of the day the outcome of the European Summit.

EURUSD technical analysis of the day

Uncertainty dominates the foreign exchange market on the outcome of EU summit, and German sources, already suggest a new high only in the eurozone. The volatility will obviously increase in the coming hours and we fear the erratic movements of the cross. The general trend is to lower the euro as our writing table on a relative failure of the summit . It is highly unlikely that Europe has announced measures that will restore lasting confidence. At best, a burst of markets may occur in the coming sessions. Note the main support for the pair today to 1.3290 and 1.3486 resistance.

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The economic news of December 8, 2011

On the production front, Germany has announced an increase for the industry of 0.8% over the month in October, according to a provisional figure. If this information is confirmed, then the German production had resumed rising after two months of decline, and has even achieved a better performance than expected by the consensus which projected 0.4%.

Across the Channel, industrial production fell by 1.7% according to the ONS. In detail, the fall in manufacturing output is 0.7% over the month and that of the metallurgical industry of 2.1%. Note that the Greek Parliament yesterday adopted a new austerity budget for next year which assumes a significant reduction of public deficit to 5.4%, which is clearly a very ambitious goal, and probably difficult to achieve according to many observers .

Finally, two days after the warning from S & P against the eurozone , the German debt awarded yesterday to 4.09 billion euros of five-year bonds at average yield of 1.11% with a coupon of 1.25% . The coverage ratio stood at 2.1%. Clearly, observers have concluded that the operation went particularly well for Germany, few investors really feared a worsening of the country’s sovereign rating in coming months.

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