Asad Rizvi
DISCLAMER : The commentary/information presented is not intended for trading purpose. The idea is to exchange views with the members/readers. Therefore, I accept no responsibility or liability for any losses incurred due to position taking.
FED officials are busy making statements according to their understanding about US economy, but so far the speeches have not been powerful enough to influence the market because ultimately it is the final vote on decision making that matters. The mood is mix, as market is trying to gather the trend after mixture of good and poor economic data, as the confidence level of US Consumer in September was disappointing. Release of of S&P Case Shiller suggest that housing demand could not attain satisfactory level, but was supported by strong rise in housing prices.
Similarly Europe too is gradually slowing down. Recent release of German economic data does not bode well, as signs are becoming evident that the pace of growth is slowing down, this is what yesterday's release of German IFO data is depicting. Draghi a day earlier has already shown his reservations about growth prospect in the Euro region signaling that ECB is prepared to take more monetary measures to increase the pace of growth.
Meanwhile, FED in its recent policy stance emphasised on economic data, which means today's release of Durable Goods Data though notorious and New Home Sales will provide direction about the latest trend of US Economy. But prior to that Germany's Gfk Consumer Confidence Survey an indicator that measure's the confidence level about the economic activity will be keenly watched.
GMT 3:15 - GOLD @ $ 1324.50 = Likely to hold around $ 13171-19 ion Asia & early Europe for a move towards $ 1328-30. break will encourage move extending towards $ 1333 or else $ 1310.
GMT 3:21 -EURO @ 1.3472 = Euro may struggle to make gains beyond 1.3480-90 zones for a a dip break of 1.3450 will open gates for a test of 1.3430-35 levels, 1.3410 should hold or else on the up 1.3515.
GMT 3:24 - GBP @ 1.5985 = As long as Cable holds below 1.6025 dip to test 1.5955-60 zones possible, break will threaten to test 1.5930 or else test of 1.6050-60 zones.
GMT 3:27 - JPY @ 98.66 = Yen will make further gains if holds below 99 for 98.30, break risk for test of 98.10-15 levels or else 99.20
GMT 3:31 - AUD @ 0.9377 = surely loosing upside momentum may hold around or below 0.9420 for a dip to test 0.9340-50, if breaks, possibly 0.9310-20 or else 0.9440-50 before down again.
DISCLAMER : The commentary/information presented is not intended for trading purpose. The idea is to exchange views with the members/readers. Therefore, I accept no responsibility or liability for any losses incurred due to position taking.
EURO @ 1.3472 = Euro may struggle to make gains beyond 1.3480-90 zones for a a dip break of 1.3450 will open gates for a test of 1.3430-35 levels, 1.3410 should hold or else on the up 1.3515.
ReplyDelete
ReplyDeleteGBP @ 1.5985 = As long as Cable holds below 1.6025 dip to test 1.5955-60 zones possible, break will threaten to test 1.5930 or else test of 1.6050-60 zones.
JPY @ 98.66 = Yen will make further gains if holds below 99 for 98.30, break risk for test of 98.10-15 levels or else 99.20
ReplyDeleteAUD @ 0.9377 = surely loosing upside momentum may hold around or below 0.9420 for a dip to test 0.9340-50, if breaks, possibly 0.9310-20 or else 0.9440-50 before down again.
ReplyDeleteGMT 3:15 - GOLD @ $ 1324.50 = Likely to hold around $ 13171-19 ion Asia & early Europe for a move towards $ 1328-30. break will encourage move extending towards $ 1333 or else $ 1310.
ReplyDeleteGOLD @ $ 1323 = OK hope you have book your profit around $ 1329 as per mornig post........Buy again around $ 1321-23. Stops $ 1318...........
ReplyDeleteEURO @ 1.3485 = Buy Euro around 1.3488-95. Stops 1.3530....
ReplyDeleteGBP @ 1.6002 = Prefer level to sell around 1.6020-30.Stops 1.6060
ReplyDeleteGBP @ 1.6016 = View on Cable still good............
ReplyDeleteGOLD @ $ 1323.50 = Book small your profit around $ 1323.50-25 & get rid of gold position................
ReplyDeleteGOLD @ $ 1325 = sell sound $ 1325-27. Stops $ 1332........
ReplyDeleteGOLD @ $ 1318 = book your profit around $ 1316-18...........
ReplyDelete3- Brokers charged by UK regulators. Dollar could make gains against GBP & Euro
ReplyDeleteDo not buy Yen as the brokers cahrged for manupilation and frus is against Yen Libor.....Sp stay away for the time being so that you can eneter at a better level...........
ReplyDeleteSir what abt GBP now???
ReplyDeleteStops hit. Now wait for home sales data...............
ReplyDeletesell gold @ $ 1322-24
ReplyDeleteGOLD @ $ 1323 - Hold on do not sell now could test $ 1327-30 zones........
ReplyDeletehi sir
ReplyDeleteGbp and Euro ?
Thanks
Housing Number is not encouraging because of revision, which may not help USD.
ReplyDeleteEuro possible rane 1.3275-1.3540-50
GBO 1.6040-1.61
should sell gold around 30
ReplyDeleteYes stops $ 1335.
ReplyDeleteThouse long should book profit around $ 1328-30.........
Ok pals, get rid of Euro around 1.3490.00
ReplyDeleteCheers until tomorrow.............