Posts Tagged ‘Focus’
NEW YORK (CNNMoney) — As Wall Street continues to digest events overseas, investors will focus on the U.S. job market this week.
The Labor Department’s March jobs report typically sets the stage for the rest of the month because of how important jobs are to driving future economic activity. While the U.S. economy grew by [...]
2011 has started out of the gate with a focus on the fundamentals and less on the risk themes that were so dominate in 2010. While this is not tacit approval of where prices may be, there is some semblance of individual data guiding the markets.Case in point—this morning has started out with stocks higher [...]
Quote of the day: He who is not courageous enough to take risks will accomplish nothing in life. – Muhammad Ali
EURUSD
Trading strategy: standing aside
The euro holds above 1.3600 and is currently facing intraday resistance around 1.3650, after it climbed yesterday on Ireland optimism. Next resistance region comes around 1.3750 which served both as support and [...]
Now that last week’s news from the US has come and gone, focus is shifting back to the Euro zone and more specifically the debt crisis. As recent forex market trends have been primarily Dollar-driven ahead of QE2, the US Elections, and NFP, the market is slowly turning a cautious eye back to the EU.
This [...]
Quote of the day: Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services. – Henry Ford
EURUSD
Trading strategy: long at 1.3960, stop at 1.3890(0.5% risk), 1st objective at 1.4010, 2nd objective at 1.4100
Although it managed to rally above the 1.4000 mark for the [...]
Here is Abe Cofnas’ weekly outlook for the Swiss franc:
With the recent very bearish news on the US Dollar Index, it’s a good opportunity to see if there is a contrarian move shaping up. I think there is. First look at the US Dollar Index and the USDCHF charts. They are very much co-movers and [...]
CURRENCY WEEKLY OUTLOOK
by Abe Cofnas
FOCUS ON USDJPY
The theatre of action for this week is first and foremost the USDJPY. What happens there will be a major landmark of global market direction. The Yen is clearly a barometer of risk aversion versus risk appetite. Japanese economic weakness, while clearly a function of a multi-decade consumer [...]
This morning, the markets were still reeling a bit from yesterday’s pullback, but the ADP employment change figures came in showing a gain of 42K jobs vs. an expectation of a 33K gain. This caused the market to flip, and risk-appetite appears to be increasing as we head into the stock market open here in [...]
This morning, all eyes are on the US economy as the Advance Retail Sales Figures and US CPI figures are due out. By the time I am finished with today’s piece, these numbers will have hit the market. In addition, Fed Chairman Bernanke is expected to speak at 10AM EST to the Joint Economic Committee [...]
