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UK GDP Data In Focus
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German PMI Manufacturing On Tap
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UK Jobless Claims Change Could Spark Recovery Today
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German Producer Prices & Swiss Industrial Production Expected
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University Of Michigan Confidence Report May Proffer Some Hope For US Dollar
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The US Jobless Claims May Boost Dollar Today
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Euro-Zone CPI & US CPI All On Tap
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The First Confluence Of The Year 2013
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Euro-Zone Industrial Production May Offer A Sense Of Direction
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US Consumer Confidence Report May Disappoint
The US Consumer Confidence report may disappoint. The report is a comprehensive assessment of consumer sentiment regarding business conditions, employment and personal income. Based on a representative sample of thousands of mail-in surveys, the Conference Board index has the largest pooling sample of any U.S. measure of consumer confidence. Consumer Confidence levels are generally linked with consumer spending. For instance, when consumer confidence is on the rise consumer spending tends to increase. Low or falling consumer confidence on the other hand is typically associated with decreased spending and consumer demand. Some analysts criticize the Consumer Confidence figure for its volatile tendencies and weak connection to household expenditure, turning instead to the University of Michigan Consumer Confidence numbers. The volatility of the Consumer Confidence figure is attributed to two factors: its pooling size and the survey time frame focus. The Conference Board surveys an entirely new group of people each month, resulting in more erratic month to month figures. Additionally, the survey queries respondents on expectations for the following six months, a relatively short term evaluation. Conversely, the U. Michigan survey will re-poll many individuals and focuses on expectations for the next one to five years. The long term focus has a stabilizing effect on consumer confidence. Survey results are printed in the headlines where 100 reflects a recent base year. The data disappointed in the recent past and may likely happen again. The previous outcome of the data was at 65.1 whereas today’s forecast reads 64 though not much of a difference but good enough to propel Euro to new highs today.
However, if the data comes out worse than the forecast then there should be a surge in the Forex market and S&P 500 as the Greenback will nose dive at the break of this news. plan your trade and trade your plan.
FOREX DAILYS FOR EUR/USD
HIGH =1.3487, EXTENSION = 1.3497
LOW = 1.3447, EXTENSION = 1.3436
PRICE BATTLE POINT(PBP) = 1.3457
RANGE = 40 PIPS EXPECTED.
The pair had a choppy market reaction on Monday 28th January, 2013 reaching the high of 1.3477 with the low of 1.3437 carving out another symmetrical triangle. This goes to suggest a bullish run in the market today. Today’s trend is upwards.
SYMMETRICAL TRIANGLE FORMATION.
FOREX DAILYS FOR GBP/USD
HIGH = 1.5736, EXTENSION = 1.5756
LOW = 1.5642, EXTENSION = 1.5621
PRICE BATTLE POINT(PBP) = 1.5715
RANGE = 94 PIPS EXPECTED
The pair had a bearish market reaction on Monday 28th of January, 2013, reaching the low of 1.5674 before correcting sideways. Today’s trend is downwards. Happy trading!
DAILY PIVOT POINTS
| EUR/USD | GBP/USD | USD/CHF | USD/JPY | EUR/JPY | AUD/USD | |
| R2 | 1.3497 | 1.5809 | 0.9307 | 91.45 | 123.17 | 1.0496 |
| R1 | 1.3476 | 1.5756 | 0.9285 | 91.11 | 122.67 | 1.0470 |
| PP | 1.3457 | 1.5715 | 0.9270 | 90.76 | 122.11 | 1.0427 |
| S1 | 1.3436 | 1.5662 | 0.9248 | 90.42 | 121.61 | 1.0401 |
| S2 | 1.3417 | 1.5621 | 0.9233 | 90.07 | 121.05 | 1.0358 |
NB: If you have a high affinity to trading EUR/USD and GBP/USD then you are better off with using our daily forecasts for these two as we delved into these two currencies pairs in more elaborate manner. Please do not forget to leave your comment at the comment box below. If the comment box is not visible to you, all you need do is to click on the title of this article to refresh for the box to become available.
DISCLAIMER: Previous performance is not necessarily indicative of the present performance. Use your discretion while using this report as we are not liable of the outcome of your using this information.
UK GDP Data In Focus
The UK GDP data in focus. The UK GDP is an indicator for broad overall growth in the United Kingdom. Robust UK GDP growth signals a heightened level of economic activity, and therefore a high demand for currency. Economic expansion also raises concerns about inflationary pressure, which generally prompts monetary authorities to increase interest rates. This means that positive GDP readings are generally bullish for a given currency, while negative readings are bearish. Due to the untimeliness of this report and because data on GDP components are available beforehand, the actual GDP figure is usually well anticipated. But given its overall significance GDP has the tendency to move the market upon release, acting to confirm or upset economic expectations. Robust GDP growth signals a heightened level of activity that is generally associated with a healthy economy. However economic expansion also raises concerns about inflationary pressures which may lead to monetary policy tightening. The headline figure for UK GDP is an annualized percentage growth rate.
The previous data for the UK GDP quarter on quarter was at 0.9% while today’s forecast is at -0.1%. The previous outcome for the year on year outcome was at 0.0% while today’s forecast is at 0.2%. This goes to show that the overall economic activities in the UK has not been very healthy. However, we can not rule out possibility of surprises from this day’s data outcome. Should we go by the information we have at hand then the UK data stand little chance of impressing today neither do we expect it to lift Pound from the bearish slump. Look for clues while this data is about to be released and protect your already profitable trade positions today before the data is released. Happy trading!
FOREX DAILYS FOR EUR/USD
HIGH =1.3431, EXTENSION = 1.3454
LOW = 1.3324, EXTENSION = 1.3300
PRICE BATTLE POINT(PBP) = 1.3347
RANGE = 107 PIPS EXPECTED.
The pair had a bullish market reaction on Thursday 24th January, 2013 reaching the high of 1.3393 before correcting downwards. The bulls finally won the range bound battle and surge to 1.3393 which is a good indication that the bullish trend has resumed again.Today’s trend is upwards. Stay bullish and stay focused while awaiting UK’s GDP data.
FOREX DAILYS FOR GBP/USD
HIGH = 1.5811, EXTENSION = 1.5829
LOW = 1.5717, EXTENSION = 1.5699
PRICE BATTLE POINT(PBP) = 1.5793
RANGE = 94 PIPS EXPECTED
The pair had a bearish market reaction on Thursday 24th of January, 2013, reaching the high of 1.5757 before correcting upwards. Today’s trend is downwards, and we are confident the reversal trend has already started with the UK GDP data in focus today. Happy trading!
DAILY PIVOT POINTS
| EUR/USD | GBP/USD | USD/CHF | USD/JPY | EUR/JPY | AUD/USD | |
| R2 | 1.3454 | 1.5887 | 0.9346 | 91.66 | 123.00 | 1.0562 |
| R1 | 1.3407 | 1.5829 | 0.9324 | 91.05 | 121.93 | 1.0505 |
| PP | 1.3347 | 1.5793 | 0.9301 | 90.05 | 120.23 | 1.0471 |
| S1 | 1.3300 | 1.5735 | 0.9279 | 89.44 | 119.16 | 1.0414 |
| S2 | 1.3240 | 1.5699 | 0.9256 | 88.44 | 117.46 | 1.0380 |
NB: If you have a high affinity to trading EUR/USD and GBP/USD then you are better off with using our daily forecasts for these two as we delved into these two currencies pairs in more elaborate manner. Please do not forget to leave your comment at the comment box below. If the comment box is not visible to you, all you need do is to click on the title of this article to refresh for the box to become available.
DISCLAIMER: Previous performance is not necessarily indicative of the present performance. Use your discretion while using this report as we are not liable of the outcome of your using this information.
