Immediate Forex

ECB Meeting: Lending a Hand to Portugal

2011-07-07T17:47:07Z

The market reaction was initially limited. Following the suspension of threshold two-year schatz rate rose and ended 6bp higher after the press conference. EUR/USD increased close to a figure on the event and Portuguese sovereign spreads narrowed.http://feeds.actionforex.com/~r/ActionForexall/~3/5FFyBjFSdSE/

ECB Meeting: Lending a Hand to Portugal

2011-07-07T17:47:07Z

Politics of Default: Roadmap to Debunk the Dollar

2011-07-07T17:39:26Z

We were one of few who defended the euro when many pundits predicted parity to the U.S. dollar in the spring of 2010, when Greece’s issues first came to the fore. Since then, Old Europe’s currency has had a dramatic comeback, although not without significant jitters along the way. Ahttp://feeds.actionforex.com/~r/ActionForexall/~3/77rlk2tIH-o/

Today’s Jump in ADP Tips A Stronger Non-Farm Payroll Report Tomorrow?

2011-07-07T17:34:40Z

If the ADP report is as predictive as it was in May, and non-farm payrolls come in at 150K or greater that will boost risk sentiment and help equities to rally. We are seeing a bit of that already following the ADP report as traders price in a better NFPhttp://feeds.actionforex.com/~r/ActionForexall/~3/vrh2gbq26us/

Strong ADP Report Blows Bonds Away

2011-07-07T17:28:41Z

The major catalyst in government bond markets has come not in response to the outcomes of various central bank meetings in Europe, but instead from the United States where a private report showed an unusually robust reading of jobs growth. Government bond yields marched higher but more notably so inhttp://feeds.actionforex.com/~r/ActionForexall/~3/4PMAusPgrkc/

ECB Hikes, ADP Strongly Beats, EURUSD Dithers

2011-07-07T16:53:53Z

Trichet and company delivered with the expected rate hike and continue to call rates accommodative. Meanwhile, the pro-risk trades are celebrating a large positive surprise on US ADP payrolls survey.

In Europe, sovereign spreads are bolting wider once again, with the Portuguese 2-year now yielding over 18% and up 150 bpshttp://feeds.actionforex.com/~r/ActionForexall/~3/7CL31g62zSk/

AUD/USD Setting up to Retest Record High; Flat Correction Scenario

2011-07-07T16:48:23Z

The AUD/USD is consolidating after a strong swing from 1.0440 area that was developed in a 5-wave or motive-wave manner.

The RSI shows the bullish momentum intact.

It looks like we completed a 3-swing correction and could be ready for a bullish continuation.http://feeds.actionforex.com/~r/ActionForexall/~3/ksxTLLQv8JA/

Currency War (Tag, You’re It)

2011-07-07T16:45:32Z

A sway of information from European Central Bank caused abundant amount of volatility in EUR/USD currency pair. As anticipated, ECB hiked the interest rates by 25 basis points to 1.50%. However Trichet’s Press Conference, caused uncertainty in the market place about eventual rate hikes. Currency market sold off the Eurohttp://feeds.actionforex.com/~r/ActionForexall/~3/J7_ZQQMtuYM/

Trade Idea Wrap-up: EUR/USD – Buy at 1.4280

2011-07-07T15:22:13Z

Despite intra-day brief fall to 1.4220, the subsequent sharp rebound from there suggests low is possibly formed and consolidation with mild upside bias is seen for test of 1.4391-95 (current level of the Ichimoku cloud bottom and previous support), however, break there upper Kumo (now at 1.4428) is needed tohttp://feeds.actionforex.com/~r/ActionForexall/~3/yyy__6iKgOE/

Trade Idea Wrap-up: USD/JPY – Buy at 81.00

2011-07-07T15:17:25Z

As the greenback has eased after intra-day rise to 81.42, suggesting minor consolidation would be seen, however, as dollar has penetrated indicated resistance area at 81.27-33, we are keeping our view that early retreat from 82.23 has ended at 79.69 and this rise from 79.69 should extend gain to nexthttp://feeds.actionforex.com/~r/ActionForexall/~3/_59I3GBTn6U/