International Business News - forecasts http://www.ibtimes.com/rss/feed/forecasts.rss All articles are copyrighted by IBTimes.com 120 30 http://www.ibtimes.com/rss/feed/forecasts.rss http://www.ibtimes.com/images/top_logo_ibt2_3.gif With US payrolls released later on in the trading session, the Asian markets were relatively quiet overnight. Non farms, plus the G20 this weekend, meant Asian traders stayed on the sidelines. RBA increasing their growth forecasts from 0.5% to 1.75% and saying rates will rise steadily. http://www.ibtimes.com/articles/20091106/daily-fx-report-friday-6th-november.htm http://www.ibtimes.com/articles/20091106/daily-fx-report-friday-6th-november.htm Fri, 06 Nov 2009 07:41:07 EST Markets are cautiously in range ahead of non-farm payroll report from US today. Economists expect the US job markets to contract by -165k in October, much better than September's -263k. Unemployment rate is expected to climb slightly from 9.8% to 9.9%. The leading indicators to NFP are mixed http://www.ibtimes.com/articles/20091106/daily-report-markets-cautiously-range-ahead-non-farm-payroll.htm http://www.ibtimes.com/articles/20091106/daily-report-markets-cautiously-range-ahead-non-farm-payroll.htm Fri, 06 Nov 2009 07:39:28 EST Dow Jones : Resistance(daily close) : 9382.12, 9744.26, 10 091.30, 10 935.23, 11 164.57, 344.92 and 11 520.30. Then 11 749.22, 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00. Break of the latter will lead to 13 567.60, 13 668.74 and 13 792.53 (published on October 21, 2008). http://www.ibtimes.com/articles/20091106/forex-dow-jones-recommended-levels.htm http://www.ibtimes.com/articles/20091106/forex-dow-jones-recommended-levels.htm Fri, 06 Nov 2009 05:03:13 EST Although euro has retreated after rising marginally above 1.4910 to 1.4918 yesterday and minor consolidation is seen ahead of the release of U.S. non-farm payrolls data later today, loss of upward momentum should cap price well below 1.4980/85 and yield a much-needed correction later.On the downside... http://www.ibtimes.com/articles/20091106/eur-usd-daily-market-outlook.htm http://www.ibtimes.com/articles/20091106/eur-usd-daily-market-outlook.htm Fri, 06 Nov 2009 02:59:00 EST Despite dollar's rebound from yesterday's European session low at 89.98 (in part due to cross selling in yen), if our that the upmove from 89.18 has formed a temporary top at 91.34 is correct, mild downside bias remains for another fall and below aforesaid support at 89.98 would yield subsequent wea... http://www.ibtimes.com/articles/20091105/usd-jpy-daily-market-outlook.htm http://www.ibtimes.com/articles/20091105/usd-jpy-daily-market-outlook.htm Thu, 05 Nov 2009 20:55:00 EST CURRENCY TRADING SUMMARY - 6th November (00:30GMT) U.S. Dollar Trading (USD) with stocks rallying for a 4th day the market went back into 'risk on' mode and the USD was on the back foot. Weekly Jobless claims were 512k vs. 530k previously. Q3 Productivity at 9.5% was very strong vs. 6.5% forecast. ... http://www.ibtimes.com/articles/20091105/daily-forex-outlook-us-unemployment-data-looming.htm http://www.ibtimes.com/articles/20091105/daily-forex-outlook-us-unemployment-data-looming.htm Thu, 05 Nov 2009 18:57:00 EST The Australian Dollar opens at US91 cents after yesterday's release of September trade data hinted that official interest rates may need to be increased for third consecutive month in December. The trade deficit was smaller than expected at A$1.849 billion, however imports were up 5 per cent suggesting that domestic demand remains robust. During overnight trade the Aussie moved between a low of 0.9030 and a high of 0.9122 after central banks in Europe and the United Kingdom left their benchmark ... http://www.ibtimes.com/articles/20091105/daily-forecast-06-11.htm http://www.ibtimes.com/articles/20091105/daily-forecast-06-11.htm Thu, 05 Nov 2009 16:57:58 EST Last night, the Federal Reserve decided to keep US interest rates on hold for "an extended period". Since the Australians raised their base rate earlier in the week, there was focus on whether or not the other major economies would follow suit. Post FOMC, the Asian markets were relatively quiet, but all eyes today will be focussed on announcements from the MPC in the UK and the ECB. The chart below shows the performance of EUR/USD since March 2009. http://www.ibtimes.com/articles/20091105/daily-fx-report-thursday-5th-november.htm http://www.ibtimes.com/articles/20091105/daily-fx-report-thursday-5th-november.htm Thu, 05 Nov 2009 09:00:33 EST Yen recovers some ground today as Asians stocks dip after late selloff in US equities. Dollar follows by paring some of this week's losses as crude oil is back below 80 level while gold trades below 1090. http://www.ibtimes.com/articles/20091105/daily-report-yen-recovers-on-risk-aversion-boe-ecb-watched.htm http://www.ibtimes.com/articles/20091105/daily-report-yen-recovers-on-risk-aversion-boe-ecb-watched.htm Thu, 05 Nov 2009 07:04:12 EST Euro's retreat after yesterday's rally to 1.4910 (post-FOMC statement high) suggests this week's rise from 1.4626 has possibly ended there and consolidation with downside bias is seen for weakness to 1.4770/80, however, a breach of 1.4734 (previous resistance) is needed to signal correction from 1.4... http://www.ibtimes.com/articles/20091105/eur-usd-daily-market-outlook.htm http://www.ibtimes.com/articles/20091105/eur-usd-daily-market-outlook.htm Thu, 05 Nov 2009 03:03:00 EST Despite yesterday's cross-inspired rally to 91.34 (post-FOMC statement high), subsequent retreat from there suggests the upmove from 89.18 has formed a temporary top there and consolidation with mild downside bias is seen for a correction towards 89.84/87 but only a firm breach of this support area ... http://www.ibtimes.com/articles/20091104/usd-jpy-daily-market-outlook.htm http://www.ibtimes.com/articles/20091104/usd-jpy-daily-market-outlook.htm Wed, 04 Nov 2009 21:00:00 EST CURRENCY TRADING SUMMARY - 5th November (00:30GMT) U.S. Dollar Trading (USD) was on the back foot as stocks rallied around the world and the Federal Reserve left rates at 0.25% and stating that rates would remain low for an extended period of time. ADP October Employment Report was -203k vs. -188k p... http://www.ibtimes.com/articles/20091104/daily-forex-outlook-fed-remains-dovish-usd-weak.htm http://www.ibtimes.com/articles/20091104/daily-forex-outlook-fed-remains-dovish-usd-weak.htm Wed, 04 Nov 2009 18:48:00 EST The Australian Dollar opens higher today at 0.9120 against the greenback. As expected, the US Federal Reserve left interest rates unchanged at the current setting of zero to 0.25 per cent. The Aussie moved to an offshore high at time of writing of 0.9143. During the domestic session on Wednesday, the unit slid down to 0.8970 as retail trade fell 0.2 per cent in September. The disappointing number does not support the case for a third consecutive hike in interest rates by the Reserve Bank of Aust... http://www.ibtimes.com/articles/20091104/daily-forecast-05-11.htm http://www.ibtimes.com/articles/20091104/daily-forecast-05-11.htm Wed, 04 Nov 2009 17:05:39 EST Dollar pared much recent gains overnight as gold broke out from recent range on news of IMF's 200 tons sales of Gold to Reserve Bank of India and rose to new record high of 1088. Stocks in US consolidated in tight range ahead of FOMC meeting and thus provided little inspiration to the greenback for extending the rally. http://www.ibtimes.com/articles/20091104/daily-report-dollar-pressured-gold-strength-services-data-focus-then-fomc.htm http://www.ibtimes.com/articles/20091104/daily-report-dollar-pressured-gold-strength-services-data-focus-then-fomc.htm Wed, 04 Nov 2009 06:37:54 EST Despite yesterday's selloff to 1.4626, euro's subsequent strong rebound from there suggests a temporary low is in place and consolidation with upside bias is seen for a retracement of recent decline to 1.4800/10, however, previous resistance should hold and yield a retreat later today or tomorrow.On... http://www.ibtimes.com/articles/20091104/eur-usd-daily-market-outlook.htm http://www.ibtimes.com/articles/20091104/eur-usd-daily-market-outlook.htm Wed, 04 Nov 2009 03:07:00 EST Although dollar's rebound from 89.18 suggests recent decline has formed a temporary low earlier this week, a breach of 90.71 is needed to signal correction is under way and bring further subsequent gain to 91.00/10, however, upside should be capped well below resistance at 91.63 and yield retreat la... http://www.ibtimes.com/articles/20091103/usd-jpy-daily-market-outlook.htm http://www.ibtimes.com/articles/20091103/usd-jpy-daily-market-outlook.htm Tue, 03 Nov 2009 20:46:00 EST CURRENCY TRADING SUMMARY - 4th November (00:30GMT) U.S. Dollar Trading (USD) hit multi-week highs in Europe against a raft of currencies as banking worries put stock markets on the back foot. News of India buying gold and Warren Buffet making a large investment in US railways help the US reverse the... http://www.ibtimes.com/articles/20091103/daily-forex-outlook-attention-turns-to-fomc.htm http://www.ibtimes.com/articles/20091103/daily-forex-outlook-attention-turns-to-fomc.htm Tue, 03 Nov 2009 20:23:00 EST The Australian Dollar opens at US90 cents this morning after another volatile 24 hours. The Aussie hit an intraday high yesterday of 0.9090 on the back stronger gold and commodity prices before a rapid half-cent decline moments before the RBA's 2:30pm cash rate announcement. As expected, the central bank hiked rates by 25 basis points with governor Mr Glenn Stevens saying "economic conditions in Australia have been stronger than expected and measures of confidence have recovered". http://www.ibtimes.com/articles/20091103/daily-forecast-03-11.htm http://www.ibtimes.com/articles/20091103/daily-forecast-03-11.htm Tue, 03 Nov 2009 19:14:58 EST Australian dollar weakens mildly after the expected RBA hike as economists are taking the messages from the accompanying statement as a signal to pause in the tightening cycle. RBA became the first central bank to raise rates twice this year and hiked 25bps to 3.50% today. http://www.ibtimes.com/articles/20091103/daily-report-aud-softens-mildly-after-expected-rba-hike-dollar-range.htm http://www.ibtimes.com/articles/20091103/daily-report-aud-softens-mildly-after-expected-rba-hike-dollar-range.htm Tue, 03 Nov 2009 07:16:21 EST AUDUSD range was 0.9007-0.9092. It traded up to 0.9092 before the decision and ran into resistance ahead of the 0.9100 handle with more at 0.9130. After he decision traded lower as the interest rate futures markets discounted the chance of a December rate hike as the RBA said that October and November hikes would work to temper inflation and ensure a sustainable upswing in the economy. Downside 0.9000 offering good support for now with more at 0.8970/0.8950. http://www.ibtimes.com/articles/20091103/daily-fx-report-tuesday-3rd-november.htm http://www.ibtimes.com/articles/20091103/daily-fx-report-tuesday-3rd-november.htm Tue, 03 Nov 2009 07:07:45 EST