Ikon forex EUR/USD fell down sharply from the highest point of this trading session

#21
Ikon forex "Spot gold got stabilized, strong USD limited the rebound space of gold"

International spot gold price got stabilized at below 1350 US dollars on Friday (January 21), and the slump amount for the single day was about 2 percent in the previous trading session. Affected by the spur of strong economic basic performance for USD, strong USD continuously limited the space of the rebound of the gold price.

The spot gold price in the Asia forex market slightly went up by 0.1 percent to 1346.91 US dollars, and it repeatedly went down to the lowest point for two months in the market at 1342.65 US dollars per ounce. Gold futures in US which were due in February went down by 0.3 US dollars to 1346.2 US dollars per ounce.

Spot silver went down by 0.14 US dollars to 27.59 US dollars per ounce, and left the lowest point for two months in the market at 27.40 SU dollars per ounce. The slump amount had accumulatively reached 11 percent in this year.
Supported by the advantage economic data, USD index stabilized the surging amount early in the forex market on Friday and got stabilized at 78.85.

The spot gold price was at 1347.00 US dollars per ounce at 10:23 Beijing time.

Edited by Laura in Ikon Group.
 
#22
Ikon forex "EUR,AUD mildly reversed the gains in the previous night"

In the Asia Pacific forex market on Tuesday (January 25), the USD index continued the mild rebound trend of the previous trading session, the forex price of EUR/USD and other non-USD currencies fell from the high point in the previous night.

The highest point EUR/USD had reached in the previous night was at 1.3685 and this refreshed the highest point for over two month in the forex market. The purchasing managers index in Euro Zone which was released on Monday (January 24) was better than the previous expectation, and this help restore up the confidence of EUR in the forex market.

The data indicated that the primary value of PMI in January in Euro Zone was at 55.2, and the previous expectation was at 54.3; that of last December was at 54.2. What is more, the month rate of factory orders of November in Euro Zone was increased by 2.1 percent, and the previous expectation was to increase by 2.0 percent; the annual rate rose by 19.9 percent and the previous expectation was to increase by 17.1 percent.

Affected by the support of the economic data, the stock price all surged up in the previous night, and Dow Jones Industrial Average was closed high, and rose up by over 100 points and made a new highest record since June 2008.
The surging up of the stock market also supported the forex price of AUD/USD to get a strong rebound at around 0.9830 and the forex price even reached a high point of 1.0021. So far this forex price fell back to the level of 0.9970 and was getting an adjustment there.

The forex price of EUR/USD was at 1.3637/40, and AUD/USD was at 0.9972/76 at 08:21 Beijing time.

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Edited by Laura in Ikon Group.
 
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#23
Ikon forex "NZD/USD suffered great pressure of selling"

ANZ said on Wednesday (January 26) that because it is predicted that the claim of the conference of RBNZ held on Thursday (January 27) would be quite mild, therefore the forex price of NZD/USD might suffer great pressure of selling in the trading session.

However, this bank pointed out the forex price of NZD/USD got some support at 0.7620 while it was falling down, and the obstacle point on top is predicted to be at 0.7675.

Early in Asia forex market on Wednesday the forex price of NZD/USD got a rebound to around 0.7700. In the previous night the US stock market was mixed, and this forex price got a high adjustment, but the risk sentiments still exist.

The forex market in Australia was closed because of the holiday, and the cross trading in the market was quite dim.

The forex price of NZD/USD was at 0.7678/82 at 07:28 Beijing time.

Edited by Laura in Ikon Group.
 
#24
Ikon forex "AUD/USD might fell down to the fair price level"

If the employment data was worse than the previous expectation in the forex market, the forex price of AUD/USD might fall down to the fair price level.

The forex price of AUD/USD was maintained at around 1.0100 early in the Asia forex market on Thursday (February 10) and got an adjustment there. In the previous night in the off shore market this forex price was maintained at 1.0080-1.0140 and got an adjustment at this trading range.

Some forex analyst pointed out the growth momentum of the forex price of AUD/USD reduced because of the affection of the natural calamities in the domestic market as well as the appreciation action in China. If the employment result in January turned out to be worse later in the forex market, this forex price would suffer pressure and went down.

This forex analyst pointed out so far the support point for the forex price of AUD/USD at bottom was at 1.0080-90, and if it went down to below that point this forex price would go down further to 0.9980-1.0000.

The forex price of AUD/USD was at 1.0105/10 at 08:17 Beijing time.

Edited by Laura in Ikon Group.
 
#25
forex news from Ikon Group

Ikon forex "Initial jobless claims in US was lower than the previous expectation, USD/JPY went up sharply"

According to the data of DOL which was released on Thursday (February 10), the initial jobless claims went down sharply by 36 thousand to 383 thousand in the week of February 5, and the previous expectation was 410 thousand. And this made the lowest record since July 5, 2008.

Meanwhile, the data from DOC indicated that the month rate of the wholesale inventories in December went up by 1.0 percent, and the previous expectation was to increase by 0.7 percent; the month rate of the wholesales went up by 0.4 percent and the previous expectation was to increase by 1.3 percent.

In addition, the data released by the US Treasury indicated that the government budget in January in US was a deficit of 49.8 billion, and the previous expectation was a deficit of 70.0 billion US dollars.

The forex price of USD/JPY was opened at 82.73 in the New York trading session, and early in the forex market, this forex price steadily went up. In the afternoon trading session, this forex price got a high fluctuation, and it refreshed the highest point in that day at 83.37, and was finally closed at around 83.20.

Technically, the forex price of USD/JPY broke the average line for 55 days in the market, and the MACD index chart expanded, KDJ index line went up. If this forex price broke 84.50, then the rebound target would be pointed to 85.90. If the forex price went down to below 82.20, then the rebound target would be pointed to 81.60.

The forex price of USD/JPY was at 83.23/24 at 05:20 Beijing time.

Edited by Laura in Ikon Group.
 
#26
Ikon forex "USD would continue to get support"

A senior oversea forex dealer Stuart Ive said on Monday (February 14) due to the demonstrations in Yemen and Algeria as well as the step down of the president in Egypt, the tense situation in the whole Middle East was enhanced, USD would continue to get some support in the forex market.

Ive claimed even though the step down of the Egypt president could be one of the advantage element, but there is still much more uncertainty. He also added that the important data that would be release in this week would be very much, and the focus would be at the micro economic data in China, the inflation data in UK and the speech of Ben Bernanke in Congress.

The USD index was at 78.52 at 08:23 Beijing time.

Edited by Laura in Ikon Group
 
#27
Ikon forex "AUD/USD went up to above 1.0030"

The midterm economic prospect of the economy for RBA was quite optimistic; the forex price of AUD/USD went up to above 1.0030.

Early in the Asia forex market on Tuesday (February 15), after the conference noting of RBA was released, the forex price of AUD/USD went up to the level of 1.0030.

The conference noting of RBA in February indicated that the midterm of the economic expectation was that the economy would not be affected by the flood and it is predicted that the midterm economy increase speed would be higher than the current trend. The conference noting also pointed out that because of the pressure of the commerce price surged up evidently the condition for the international trade would be increased.

The optimistic prospect on the economy for the conference noting of RBA balanced the previous statement and mild indication of the president of RBA Stevens that RBA would temporarily not take the appreciation action.

The forex price of AUD/USD went up to above 1.0030 after the conference noting was released in the market, and at the beginning of the forex market this forex price was maintained at the fair price level above 1.000 and got an adjustment around it.

The forex price of AUD/USD was at 1.0034/39 at 08:53 Beijing time.

Edited by Laura in Ikon Group.
 
#28
Ikon forex "The rebound of gold forex price might be temporarily"

VM Group and ABN AMRO Bank said in the Metal Monthly Magazine which was released on Tuesday (February 15) that the rebound of gold at the very beginning of the year 2011 might just be temporary.

Some forex analyst said the low interest rate expectation in US, the EU sovereign debt crisis, and the threat of the uncontrollable of the inflation condition in China as well as the unstable situation in Middle East would continue to provide some support for the forex price of Gold price.

Meanwhile, the silver price in January fell from above 31.00 US dollars per ounce of December and would face great risk of slumping down. And the sales amount of gold coins in US in January reached the lowest record in history, and ETF continuously reduced its holding as well.

The report indicated that silver investment would only be suitable for the forex investors, who could bare these severe fluctuations of the price, the strange trend of silver forex price as well as the self-contradictory demand information in the forex market made it quite difficult to make the analyze in the silver forex market. However, in the long run, it is predicted that the silver price would break the highest point which was reached in last December.

The expectations of the average price for three months and a whole year of gold was 1455 US dollars per ounce and 1457 US dollars per ounce separately; and that of the silver price was 31.00 US dollars per ounce and 29.63 US dollars per ounce.

Edited by Laura in Ikon Group.
 
#29
Ikon forex "USD/JPY might fall back"

Early in the Asia forex market on Thursday (February 17), the forex price of USD/JPY was maintained at above 83.50 and got an adjustment there, in the previous night the highest point this forex price had reached was at 83.97.

Some forex analyst pointed out that the forex price of USD/JPY maintained a surging trend of the very beginning of February in this four hours forex trading chart. But after this forex price reached above 83.50, the surging trend was smoothed, and if it continued to be blocked at 84.00, then in short term a fall back might occur.

In the one day trading chart, RSI fell from high, and MACD deviated from the current trend in four hours trading. This forex analyst predicted that the key support point below USD/JPY was at 83.00-10, and in this trading session, it is expected that this forex price would get an adjustment at 83.00-84.00. If this forex price breaks the high point 84.00, then later in the forex market the target would be pointed to 84.50.

The forex price of USD/JPY was at 83.58/61 at 08:22 Beijing time.

Edited by Laura in Ikon Group.
 
#30
US Federal Reserve Worried More About Deflation

The forex rate of USD versus other major currencies fluctuated on the inflation. American CPI would be released as of 21:30 Beijing time today(Feb.17,2011). The forex investors predicted that American CPI would increase to 0.5% on December in 2010 year-on-year. Moreover, the price of import rose in America has risen sharply in recent two months. So the forex investors predicted that American inflationary rate would increase too on January.

According to the report, American PPI increased by 0.8% and the core PPI rose by 0.5% on January,which reached to the fast rising in the past two years.

At present, Federal Reserve worried deflation more than inflation. FED predicted that PCE would increase by 1%-1.3% in 2011, which would strengthen US dollar in the forex market.
 

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