DAILY IFOREX REPORT 07 FEBRUARY 2014 TRADING TIPS
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BUY AUD-USD ABOVE 0.8980 TGT 0.9005,0.9040 SL 0.8940 SELL GBP-USD BELOW 1.6310 TGT 1.6285 ,1.6250 SL 1.6350
HEADLINES
Name
Last
EUR/USD
1.3602
USD/JPY
101.8485
GBP/USD
1.6342
USD/CHF
0.8993
AUD/USD
0.8966
USD/CAD
1.1064
NZD/USD
0.8273
EUR/CHF
1.2233
EUR/JPY
138.538
EUR/GBP
0.8323
EUR/AUD
1.5171
GBP/CHF
1.4698
GBP/JPY
166.437
GBP/CAD
1.8082
GBP/AUD
1.8226
AUD/JPY
91.3195
CAD/JPY
92.051
CHF/JPY
113.2465
NZD/JPY
84.2565
AUD/CAD
0.9921
AUD/CHF
0.8064
AUD/SGD
1.1367
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Forex - Dollar higher against yen, euro strengthens after ECB
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Forex - GBP/USD holds steady after BoE statement, U.S. data
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Forex - Euro higher as ECB announces no new easing measures
USD/JPY hit session highs of 102.00 and was last up 0.42% to 101.88. The dollar found support after a report showed that the number of people who filed for unemployment assistance in the U.S. last week fell more-than-expected. The Labor Department said initial jobless claims fell by 20,000 to 331,000 from the previous week’s revised total of 351,000. Analysts had expected jobless claims to fall by 16,000. A separate report showed that the U.S. trade deficit widened significantly in December, as exports dropped 2.2% and imports rose 1.6%. GBP/USD hit 1.6329 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.6319, easing up 0.06%. Cable was likely to find support at 1.6253, Wednesday's low and a seven-week low and resistance at 1.6438, the high of January 15. Earlier in the day, the BoE voted to leave interest rates steady at record lows of 0.5%, where they have been unchanged since March 2009. The bank also made no change to its quantitative easing program, which remains at 375 billion pounds. EUR/USD hit 1.3619, the highest since January 30 and was last up 0.58% to 1.3611. The pair was likely to find support at 1.3500 and resistance at 1.3640. The euro initially turned lower after the ECB voted to leave interest rates across the euro zone unchanged at their record low of 0.25%. It also left the deposit rate unchanged at zero and the marginal lending rate, which banks pay to borrow from the ECB, unchanged.
HOURLY EURUSD CHART
ANALYSIS EURUSD LOOKS UPSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.3630 SUPPORT: 1.3580
HOURLY USDJPY CHART
ANALYSIS USDJPY LOOK UPSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 102.15 SUPPORT: 101.65
HOURLY EURGBP CHART
ANALYSIS USD/CAD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.1140 SUPPORT: 1.1029
HOURLY GBPUSD CHART
ANALYSIS GBPUSD LOOKS UPSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.6370 SUPPORT: 1.6255
ECONOMIC CALLENDER MEDIUM
Cur.
Imp.
Event
Actual
Forecast
Previous
04:00:00 AM
USD
MEDIUM
FOMC Member Rosengren Speaks
06:00:00 AM
AUD
MEDIUM
RBA Monetary Policy Statement
01:45:00 PM
CHF
MEDIUM
Retail Sales (YoY)
3.90%
4.20%
03:00:00 PM
GBP
MEDIUM
Industrial Production (MoM)
0.60%
0.00%
03:00:00 PM
GBP
MEDIUM
Manufacturing Production (MoM)
0.60%
0.00%
03:00:00 PM
GBP
MEDIUM
Trade Balance
-9.30B
-9.44B
04:30:00 PM
EUR
MEDIUM
German Industrial Production (MoM)
0.50%
1.90%
07:00:00 PM
CAD
HIGH
Employment Change
20.0K
-45.9K
07:00:00 PM
CAD
MEDIUM
Unemployment Rate
7.00%
7.20%
07:00:00 PM
USD
MEDIUM
Average Hourly Earnings (MoM)
0.20%
0.10%
07:00:00 PM
USD
MEDIUM
Average Weekly Hours
34.4
34.4
07:00:00 PM
USD
MEDIUM
Nonfarm Payrolls
185K
74K
07:00:00 PM
USD
MEDIUM
Private Nonfarm Payrolls
185K
87K
07:00:00 PM
USD
HIGH
Unemployment Rate
6.70%
6.70%
07:30:00 PM
MXN
MEDIUM
Mexican CPI (YoY)
4.54%
3.97%
08:30:00 PM
GBP
MEDIUM
NIESR GDP Estimate
0.70%
02/07/14
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