Finexo Forex news and Updates

Friday, September 12, 2008

• FX: EURUSD dipped to 1.3882 and might look ready for a bounce, but the 50% fibo level at 1.3840 might be “magnetic”.


• Fixed Income: Again large ranges, but no direction in 10- years.


• Stocks: European session down 0.5%, but US and APAC session both around 1% higher.


• Commodities: Gold, Silver and Crude all bouncing cautiously higher from yesterday’s close.


• Q2 GDP releases from Japan overnight show that the country’s economy has contracted at an annualized rate of 3%, with the slowdown rate the steepest since the last recession in 2001. A negative growth figure in Q3 would see the country technically enter a new recession.


• The markets globally are enjoying from a relief rally as speculation has grown that Lehman Brothers would be bought by another financial institution.


• The markets will be keenly observing the US August Retail Sales due out at 12:30 GMT. For the core, autoless figures, the median surveyed forecasts are pointing to a drop of 0.2%, which, if materialized, would be the first negative release in 6 months.

2 comments:

Me September 14, 2008 at 6:13 PM  

As the EURUSD showed the reversal movement, I lost because I placed the stop loss at 1.3850 ! I missed the gain if I had placed it near 1.3900.

http://ofandforfxtrading.blogspot.com/

Me September 15, 2008 at 4:04 PM  

sorry, I placed the limit order at 1.3850. If I had placed a little near to 1.3900, I would have gained profits !

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