20 Jul
Posted by: Bethany Colton in: Forex News
Eur/SekThe market recovery out from 8.70 remains intact despite the latest minor pullback and we look for a fresh higher low above 9.00 ahead of the next upside extension towards the 9.30-50 area further up. Weekly studies are looking even more constructive potentially with the formation of a major base. Ultimately, only back below 9.00 would give reason for concern.
Usd/SekThe market looks to be in the process of a major structural shift, with the latest break back above the 6.40 area confirming a fresh higher low by 6.15 and exposing eventual gains towards 7.00 over the coming days.
20 Jul
Posted by: Joshua Gibb in: Forex Analyzer
A pretty quiet Asian morning, most currency pairs are consolidating especially in euro and cable after yesterday’s rally on eurozone debt crisis relief, the single currency surged to a 2-week high of 1.4440 as EU leaders agreed to allow their regional bailout fund (European Financial Stability Facility – EFSF) to ease terms of loads by extending maturity (from 7.5 years to 15 years) and lowering lending rates (from 4.5% to approx. 3.5%). European officials also let the EFSF to buy bonds in the secondary market in a total of 109 billion euro if it comes necessary to fight debt crisis.
BY MICHAEL RADKAY
It was May 12th 1999 and I was trading 30 Year Bonds at the time. Long the market with price running in my favor; things where looking great!! But all of a sudden the foundation on my long play started to buckle. Price began dropping dramatically! WTF!!! The dollars I was up evaporated and now were running substantially negative. Instead of taking the loss I elbowed the guy next to me and asked “What’s Going On?” He didn’t know… WTF!!! In my hesitation and stubborn mind-set to admit my loss, it grew to a larger deficit because like everybody else we have this deep desire to know why we are wrong and do everything in our power to not admit it. Sound fami
A day ahead of the South African central bank’s (SARB) policy rate announcement, South African June inflation numbers will be released. We expect June headline inflation to climb to 5.1% y/y from 4.6% y/y in May and the current market consensus is very near our forecast at 5.0%.
Another economic data to be released in South Africa today is the May retail sales figures. The current market consensus points to a drop in retail sales to 7.2% y/y, from 9.8% y/y in April. Read more…