Daily Fundamental Report By Olofx

[olofx]

23 January Report
CURRENCIES Euro (1.3550) is making an accept Flag and may fall towards 1.34-1.33 on a shatter underneath 1.3500-30. Upside examines limited to 1.3600 for the instant as the tendency continues firmly down. Dollar-Yen (104.58) has rebound back from our support zone of 103.65-104 to reassert the longer period uptrend. The rally may goal 107 now overhead the major opposition of 105.40-60. The Euro-Yen traverse (141.69) has come to 142 in line with our expectation but in a very laborious kind. The structure continues weak and farther upside examines restricted to 143-143.30. A shatter below 140 may pull it to 138.50-140. The pound (1.6569) is hitting the top end of the band at 1.66. A firm move above 1.6600-50 would pointer the long period uptrend reasserting itself and goals of 1.6750 & 1.69 would open. The Aussie (0.8804) has been turned down from our resistance of 0.89. Now only a move after the range of 0.87 and 0.89 would work out the next broader movement.

 

[olofx]

Fundamental Analysis 24/01/2014
The Euro (1.3680) glimpsed a stellar rise yesterday, first breaking above the earlier opposition at 1.3600 on the powerful Eurozone PMI facts and figures and then benefitting from the pointed dip in the US-10Yr yield to 2.79%. The rally has recouped all of last week's losses. A farther increase in the direction of 1.38 could be seen unless trading arrives in at present grades and impels the market underneath 1.3650.
Dollar-Yen (103.51) fallen harshly yesterday to check 55-day MA at 102.97 yesterday, but has rebound a bit from there today. Our bullishness has received a bit of a setback and perhaps we have to address chances of a sideways variety of 103-105 for a while.
The Euro-Yen Cross (141.60) has been steady yesterday as both the Euro and the Yen have profited identically against the Dollar. anticipate a obliquely variety of 141-143 for a couple of days.
The Pound (1.6632) is sustaining its upmove and a rise past 1.6650 can see it target 1.69-70.
The Aussie (0.8764) dropped harshly yesterday, strike by the feeble Chinese PMI, and could be in danger of seeing a collapse in the direction of 0.8500.

 

[olofx]

Fundamental Analysis 27/01/2014
CURRENCIES
The Euro (1.3687) checked the major tendency decider grade of 1.3750. It should shatter overhead 1.3750 to extend the rally or else the bears may come down very strongly one time again.
Dollar-Yen (102.40) has reached nearer to the foremost support level of 101.50-101.90, below which the end of the bull market will be signaled.
The Euro-Yen traverses (140.13) may continue the weakness farther to 138.60-139 as long as it stays below 141.50.
The Cable (1.6499) is a relative outperformer and may trade in the variety of 1.6350-1.67 for some time more.
The Aussie (0.8704), strike by the feeble Chinese PMI, is suspending to the major support of 0.87 precariously and could be in hazard of glimpsing a meltdown in the direction of 0.8500.

 

[olofx]

Fundamentals Reports 29-01-2014

The Euro (1.3663) is not doing much after testing the foremost tendency decider grade of 1.3750. It must shatter above 1.3750 to extend the rally or additional the bears may arrive down very strongly once afresh. foremost move is anticipated only after the broader variety of 1.3500-1.3750.

Dollar-Yen (103.13) has rebound from the major support grade of 101.50-101.90 but for the strength to come back, it should shatter overhead 103.70-90 and 105.

The Euro-Yen traverse (140.87) is close to the opposition of 141.50 overhead which the major provide zone of 142.25-50 is waiting. It may continue the flaw farther to the foremost demand zone of 138.60-139 as long as it resides underneath 142.50.The bounce doesn’t gaze very powerful functionally.

The Pound (1.6580) is a relative outperformer and may trade in the variety of 1.6350-1.67 for some time more.

The Aussie (0.8806) has rebound from the major support of 0.87 but must go overhead 0.89 to make it significant. else, it could be in danger of glimpsing a meltdown in the direction of 0.8500.

 

[olofx]

Fundamental Analysis 30/1/2014
CURRENCIES
The Euro (1.3651) is mirroring the identical indifference to global events as the Dollar index after testing the foremost trend decider level of 1.3750. It should shatter overhead 1.3750 to continue the rally or additional the bears may arrive down heavily one time again. foremost move is anticipated only after the broader variety of 1.3500-1.3750.
Dollar-Yen (102.18) is checking the bull market characterising support grade of 101.50-101.90 but for the strength to come back, it must shatter overhead 103.70-90 and 105.
The Euro-Yen traverse (139.48) was rejected sharply from our opposition of 141.50 to come to our goal of 139 as the feeble structure cited before displayed its true hue. The fall may extend to 138.45 and 137 underneath that while residual underneath 141.50.
The Pound (1.6557) remains in its own world as a comparative outperformer and may trade in the variety of 1.6350-1.67 for some time more.
The Aussie (0.8732) has rebound from the major support of 0.87 but should proceed overhead 0.89 to make it significant. else, it could be in hazard of seeing a meltdown in the direction of 0.8500.

 

[olofx]

Fundamental Analysis 31/1/2014
The Euro (1.3550) accelerated its drop to check the important support zone of 1.35-1.3540 after failing to break overhead the foremost trend decider grade of 1.3750 in line with our expectation. A shatter underneath 1.35 may pull it down to 1.33 and 1.31 fast.
Dollar-Yen (102.18) is consolidating beside the bull market characterising support level of 101.50-101.90 but for the strength to come back, it should shatter overhead 103.70-90 and 105.
The Euro-Yen traverse (139.23) was rejected harshly from our opposition of 141.50 to come to our goal of 139 as the weak structure cited before showed its factual hue. The drop may continue to 138.45 and 137 underneath that while residual underneath 141.50.
The Pound (1.6480) remains in its own world as a relative outperformer and may trade in the variety of 1.6350-1.67 for some time more.
The Aussie (0.8796) has rebound from the foremost support of 0.87 but should proceed overhead 0.89 to make it significant. else, it could be in hazard of seeing a collapse towards 0.8500.

 

[olofx]

Fundamental Analysis 3/02/2014
The Euro (1.3550) indicated a move in the direction of 1.33 and even 1.31 as it has broken the significant support zone of 1.35-1.3540 after falling short to shatter overhead the foremost tendency decider grade of 1.3750 in line with our anticipation. The bearish impetus may boost underneath 1.3450 while any possible rebound may face good trading force.
Dollar-Yen (102.37) is consolidating beside the bull market characterising support grade of 101.50-101.90 but for the strength to come back, it must break overhead 103.70-90 and 105.
The Euro-Yen Cross (138.03) accomplished our first goal of 138.45 and made a reduced very close to our second target of 137. Holding this reduced of 137.45, it may try to rebound in the direction of 139.50 but all rallies are expected to be sold into.
The POUND (1.6424) remains in its own world as a comparative outperformer and may trade in the variety of 1.6350-1.67 for some time more.
The Aussie (0.8746) has bounced from the foremost support of 0.87 but must go overhead 0.8830 and then 0.89 to make it significant. else, it could be in hazard of glimpsing a meltdown in the direction of 0.8500.

 

[olofx]

Fundamental Analysis 4/02/2014
The Euro (1.3511) is checking the opposition zone of 1.3540-75 now after it indicated a move in the direction of 1.33 and even 1.31. The bearish momentum may increase underneath 1.3450 while any likely bounce may face good selling force.
Dollar-Yen (101.24) is firmly trading below the bull market characterising support grade of 101.50-101.90 to signal the accept market. Staying underneath 102.50-103.50, we may glimpse a excursion in the direction of 98 in the coming days.
The Euro-Yen traverse (136.88) achieved our second target of 137 too and got nearer to the major support of 135. No sign of power is evident yet and all rallies may face good trading force.
Even the cable (1.6302) could not escape this carnage and dwindled to 1.63, below which a fall to 1.6175-1.62 is likely. A shatter of 1.617 would open a gigantic downside.
The Aussie (0.8757), currently beaten blue and black, is somewhat unscathed after it has bounced from the major support of 0.87 but must proceed overhead 0.8830 and then 0.89 to make it significant. Otherwise, it could be in hazard of seeing a collapse in the direction of 0.8500.

 

[olofx]

The Euro (1.3706) managed to break above 1.3690 to reach closer to the major resistance of 1.3750, above which it may rally quickly towards 1.38-1.39 but at this point, the strength looks a bit suspect. Failing to break and sustain above 1.3750 could take it to 1.36 again before further rally.
Dollar-Yen (101.95) has come lower as expected but the momentum is lacking. Though staying below 101.60-102 may take it lower but keep an eye for any sudden attempt to rally, especially if it manages to break above 102.20-25..
The Euro-Yen Cross (139.73) has to break and stay above 140.40 to rise further towards 142. Otherwise it may correct to 138 before any more rally. It has bounced from a major monthly trendline support at 136.20 to break above 138 to negate any immediate fall.
Pound (1.6727) has signaled the next phase of the major uptrend has resumed and now it has reached our first target of 1.6750. It may reach 1.69-1.7050 next. All the dips till 1.6460-10 may be bought into.
The Aussie (0.9064) is close to our major resistance of 0.91 again after bouncing from 0.8925 levels in line with our expectation with a positive bias but the strength remains suspect until 0.91 is broken above. Below 0.8925-0.89 it may reach 0.8830-0.8730.

 

[olofx]

Daily Fundamental Analysis

Market Recap: Stocks edged lower in the absence of any economic catalysts. Treasuries advanced, helped by a weakness in the German bond market. The dollar rose on softness among other major currencies. Crude fell on profit booking ahead of inventory reports and gold fell to nearly 4-month lows.
Stocks ended down slightly on Wednesday as an absence of economic catalysts put technicals in focus, with the S&P 500 ending the session just shy of a third straight record closing high. The S&P 500 also broke a four-day streak of gains. The S&P utilities index rose 0.49 percent to 213.97. U.S.-traded shares of Canadian drugmaker Valeant Pharmaceuticals fell 2.25 percent. Allergan fell 5.39 percent. Shares of Toll Brothers rose 2.08 percent. Michael Kors climbed 1.34 percent. DSW lost 27.37 percent after the company missed estimates on its results and outlooks. The Dow fell 0.24 percent. The S&P 500 fell 0.11 percent. The Nasdaq dropped 0.28 percent.
Yields on benchmark 10-year notes dropped to their lowest in nearly 11 months, undermined by falls in the German bond market following weak data and more month-end buying from institutional investors. The Treasury Department sold $35 billion in five-year notes at a high yield of 1.513 pct and $13 billion in 2-year floating rate notes at a high yield of 0.063 pct. The bid-to-cover ratio was 2.73 and 4.69 respectively. Benchmark 10-year notes were up 22/32 to yield 2.44 percent. 30-year bonds were up 1-14/32 to yield 3.29 percent.
The dollar climbed, extending a rally that began last week as the euro and sterling slipped beneath recent lows that may signal more gains for the greenback. The euro dropped 0.29 percent to $1.3593. The dollar against the yen was down 0.12 percent at 101.85 yen. The British pound was off 0.57 percent to $1.6713. The dollar index was up 0.26 to hit 80.56.
Crude fell as traders took profit ahead of inventory reports that were expected to show a build in crude. U.S. commercial crude oil stocks and refined product inventories were expected to have risen in the week to May 23, a preliminary Reuters poll of eight analysts showed. The survey forecast crude oil stocks to have increased 500,000 barrels last week. Oil fell 1.18 percent to $102.88 a barrel.
Gold fell to its lowest in nearly 4 months, extending the previous session's two-percent sell-off, as the dollar rallied against the euro and stock markets held near recent record highs. Spot gold fell 0.39 percent to $1,258.51 an ounce having earlier hit $1,255.66, which marked its weakest since early February. Gold futures for June delivery were down 0.54 percent at $1,258.70 an ounce.

 

[olofx]

Daily Fundamental Analysis

Market Recap Stocks advanced and benchmark Treasury yields edged up as traders bet on growth in the second-quarter even as the dollar fell broadly on weaker-than-expected GDP data. Oil rose after a sharp drop in gasoline stocks and gold slipped.
The S&P 500 index scored its third record closing high in four sessions on Thursday as traders shrugged off data that showed the economy contracted in the first quarter and bet on improvement in the second quarter. The gains were supported by a re-port showing the number of Americans filing new claims for un-employment benefits fell more than expected last week, pointing to a strengthening labor market. Hillshire Brands shares surged 17.73 percent. Tyson Foods rose 6.14 percent. Palo Alto Networks jumped 5.27 percent a day after it reported better-than-expected quarterly revenue as it added more customers, and said it settled patent litigation with network gear maker Juniper Networks. Apple shares gained 1.82 percent. The Dow rose 0.39 percent, the S&P 500 gained 0.53 percent and the Nasdaq added 0.54 percent.
Benchmark Treasury yields inched up from 11-month lows as data showed the U.S. economy shrank for the first time in three years in the first quarter but did not alter the view of a solid re-bound this spring. The Treasury Department sold $29 billion in 7-year notes at a high yield of 2.01 pct. The bid-to-cover ratio was 2.60. Benchmark 10-year notes traded down 6/32 to yield 2.46 percent. 30-year bonds fell 19/32, yielding 3.32 percent.
The dollar eased and finished down against other major currencies as traders shrugged off government data showing America’s economy shrank at a 1 percent annual rate during the first quarter. The euro rose 0.10 percent at $1.3602. The British pound increased 0.04 percent against the dollar at $1.6716. The Australian dollar touched a high of $0.9312 and was last at $0.9300, up 0.70 percent for the day. The dollar index was off 0.09 percent at 80.50.
Crude rose after government data showed a sharp drop in gaso-line stocks that outweighed a build in overall crude stocks, while Brent was buttressed by the loss of most supply from Libya and geopolitical risk in Ukraine. "We didn't get as big a build as was in the API data, so the (oil futures) market has stabilized after some profit taking," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut. "The primary driver behind the recent run up of U.S. crude above $100 was the geopolitical risk of supply disruption." Oil rose 0.80 percent to $103.54 a barrel.
Gold eased but bounced off its lowest level in nearly four months after data showed the U.S. economy contracted in the first quarter for the first time in three years. Analysts said gold prices should find support in an oversold market, but the precious metal will likely face more headwinds from better overall economic conditions. Spot gold was down 0.19 percent to $1,255.70 an ounce. Gold futures for June delivery fell 0.31 percent to $1,255.40 an ounce.