Daily Markets News From FBS

[⭐ kaito kid]

Nomura: forecast for gold

Nomura points out that gold (XAU/USD) is still trading within a triangle. The wave D is probably completed after the metal hit $1,270 and only one small rally remains to complete the 5-leg motion – an E-wave. Resistance is located in the $1,306/26 area. “A break of $1,251 negates the triangle but we expect prices to hold above that level for now”, say the specialists.

This pattern follows a downtrend as is a bearish continuation model. Eventually gold price will fall down to $1,100.

http://fxbazooka.com/en/analitycs/show/829

[⭐ kaito kid]

Nov. 15: Asian session

Janet Yellen, the nominee to head the Fed, said yesterday that easing measures won’t be removed too soon. Yen declined as stocks gained and the expectations for continued economic stimulus around the globe diminished demand for haven assets. Nikkei 225 reached the levels above 15000 for the first time since May. USD/JPY reached 100.30 before retreating by 15 pips. USD/CHF rose to 0.9180.

EUR/USD edged down to $1.3450, but is trading above yesterday’s low at $1.3418. Friday’s schedule of data likely to affect the EUR/USD includes: euro zone CPI (10:00 GMT); the Ecofin meeting for the EU; US import prices and US NY Empire state Manufacturing Index (13:30 GMT); US industrial production and capacity utilization (14:15 GMT). GBP/USD edged up to $1.6070, though it’s trading below yesterday’s high around $1.6100. There will be no news from Britain today.

AUD/USD rose to 0.9350. NZD/USD rose to the levels just below $0.9300 after a very volatile day yesterday. USD/CAD is trading around 1.0465 after spiking to 1.0525 yesterday. Canadian dollar touched on Thursday the weakest level since September amid wagers it rose too much and too fast, but then pared losses after commodities rose and crude oil, Canada’s biggest export, erased a drop.

http://fxbazooka.com/en/news/show/698

[⭐ kaito kid]

November 15: European session

EUR/USD eased to $1.3430 after having consolidated in the $1.3440/60 range in the Asian trade. Eurozone October CPI came unchanged and in line with forecast at 0.7% y/y, while the core reading slowed from 1.0% y/y to 0.8%. European stock markets moved into the red zone. GBP/USD remains capped below $1.6100 for a second day in row. On Friday is consolidating in the $1.6090/6050 range. EUR/GBP weakened to 0.8360.

“Safe” currencies keep giving ground. USD/JPY is conquering new highs around 100.45. EUR/JPY strengthened to the 135 mark (highest since the end of October). USD/CHF extends the upside for a second consecutive day, strengthening to 0.9190.

http://fxbazooka.com/en/news/show/700

[⭐ kaito kid]

Key currency options

Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (14:00 GMT).

Here are the key options expiring today:

EUR/USD: $1.300, $1.3350, $1.3400, $1.3420, $1.3450 (large), $1.3475, $1.3500, $1.3510, $1.3565;

GBP/USD: $1.5950, $1.5960, $1.6000, $1.6050, $1.6175;

USD/JPY: 99.00, 99.20 (large), 99.50 (large), 99.65 (large), 99.75, 100.00 (large);

USD/CHF: 0.9165;

AUD/USD: $0.9250, $0.9260, $0.9300, $0.9350, $0.9365;

USD/CAD: 1.0400, 1.0450, 1.0500 (large), 1.0510, 1.0520;

EUR/GBP: 0.8375.

http://fxbazooka.com/en/news/show/699

[⭐ kaito kid]

Trading GBP/USD with L.Vereshchagin

GBPUSD Technical analysis from 14.11.2013 by Leonid Vereshchagin

Chart 1. Daily GBPUSD

There is a perfect SELL signal from the 1.6100 level (central levels of the 1.5900/1.6250 range). The price stays below the previous rising trend line support. Advice for long-term traders: enter the market with a lower Take Profit.

Trading signal

Optimal SELL-trade: 1.6065-1.6095 range

Stop Loss: 1.6270

Take Profit: 1.5913

Chart 2. H4 GBPUSD

We see a clear bearish channel on the H4 chart. Cable keeps printing lower highs and lower lows, confirming our bearish scenario.

Chart 3. H1 GBPUSD

On the H1 chart there is a chance to test the 1.6115 resistance.

Conclusions: SELL signals confirmed

Technical analysis by Leonid Vereshchagin

Independant FX trader, coach and analyst

http://fxbazooka.com/en/analitycs/show/833

[⭐ kaito kid]

FBS: outlook for USD/JPY

It seems that the ice has finally been broken! This week USD/JPY has finally risen above the symmetric triangle (it seems to be a true breakout this time) and remains under the bullish control.

Dollar touched a fresh 6-week high of 100.45 yen on Friday on the improved risk sentiment. What is now really important for the dollaryen pair is to close the week above the 100.00 mark. For now the greenback looks well-supported.

The next resistance for USD/JPY lies at 100.60. We concede that this level could create some hurdles for the price. Buying USD/JPY from 100.65 with a target of 101.55 and a stop at 100.30 could be a good deal for the next week. Next support lies at 100.00, 99.80 and 99.10/00.

Chart. Daily USD/JPY

[⭐ kaito kid]

Nov. 18: Asian session

US dollar is under pressure amid the speculation that some Fed speakers will echo Chairman-nominee Janet Yellen in reiterating the need for monetary stimulus. New York Fed President William C. Dudley, a permanent voter on monetary policy, is scheduled to speak today, as are Eric Rosengren, Charles Plosser and Narayana Kocherlakota.

USD/JPY moved down from the daily high of 100.38 back to the key 100.00 mark. The Bank of Japan holds its policy meeting on Wednesday and Thursday and is expected to maintain the current dovish policy. USD/CHF is trading in the 0.9150/60 area after last week it met resistance around 0.9250. EUR/USD is capped by $1.3500. The pair dipped to $1.3475, but is supported by the daily Ichimoku Cloud. Euro zone will release current account figures at 09:00 GMT and trade balance at 10:00 GMT. GBP/USD is testing Friday’s high at $1.6130.

AUD/USD continues the rebound, strengthening by 40 pips to $0.9410. NZD/USD rose to $0.8360 after having closed the morning bullish gap. Positive sentiment from China surrounding plenum reforms boosted the Chinese equity markets and the commodity currencies. The Chinese Communist Party presented a project of reforms late last week, pledging to let the market play a "decisive" role in the economy. USD/CAD opened with a 10-pip gap down and declined to 1.0430. Canadian dollar gained after Statistics Canada reported on Friday that manufacturing sales rose 0.6% to C$49.9 billion, the highest since June 2012.

http://fxbazooka.com/en/news/show/703

[⭐ kaito kid]

Key currency options

Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (14:00 GMT).

Here are the key options expiring today:

EUR/USD: $1.3400, $1.3420, $1.3450, $1.3495, $1.3500 (large), $1.3525;

GBP/USD: $1.6025;

USD/JPY: 98.70, 99.50, 99.75 (large), 100.00 (large), 100.30, 100.40, 100.50;

AUD/USD: $0.9325, $0.9350 (large), $0.9370, $0.9400, $0.9470;

USD/CAD: 1.0465, 1.0500;

EUR/GBP: 0.8435.

http://fxbazooka.com/en/news/show/704

[⭐ kaito kid]

Nov. 18-22: fundamentals for the week

We expect the last week’s theme of continued stimulus to move on into this week. Every day there will be speeches from the FOMC officials. On Wednesday the Fed will release the minutes of its latest meeting. Any unexpected comments about QE tapering will move the market. Most of the FOMC officials favor earlier tapering and the minutes can be less dovish (USD-positive).

Taking into account the remaining uncertainty about the timing of the US stimulus tapering, the economic data from the US will be, as usual, very important. Don’t miss the releases of American CPI, retail sales and existing home sales on Wednesday (Nov. 20) and PPI, unemployment claims and Philly Fed manufacturing index on Thursday (Nov. 21). Note that retail sales have to show some growth after correction in September or USD won’t be able to rise in the short term.

European figures will also be in the limelight, especially taking the fact the euro zone’s economic recovery slowed down in Q3 and French economy actually contracted. Watch German ZEW economic sentiment on Tuesday (Nov. 19), France’s, Germany’s and euro zone’s manufacturing and services PMIs on Thursday and German Ifo business climate on Friday (Nov. 22).

Also stay aware of fact that the euro zone authorities have to reach an agreement on handling and funding banks that fail the coming ECB stress tests by the end of the year, the US has an unfinished budget battle to fight. So, there may be tensions ahead on both sides.

As for JPY, the Bank of Japan will meet on Thursday (Nov. 21). Compared with the Fed and the ECB, the BOJ’s policy is the most aggressive in providing monetary stimulus. The BOJ is expected to maintain its ultra-loose policy this month.

For AUD this week will be also influenced by the central bank. The Reserve bank of Australian will release meeting minutes on Tuesday morning. On Wednesday and Thursday we’ll get comments from the RBA Assist Governor Debelle and the RBA Governor Stevens. Also note that at the end of last week demand for higher-yielding currencies increased as Chinese prospects became more optimistic after the nation’s government had released its reform plan details. If the market gets an impression that these reforms will be undertaken in the foreseeable future, risk appetite could stay lifted in the coming weeks.

http://fxbazooka.com/en/news/show/706

[⭐ kaito kid]

GBP/USD: Elliott waves (Nov. 18)

Weekly. The pair keeps forming the wave [c] of B. Most likely, the market will renew the last local maximum in this wave.

Chart 1. Weekly GBP/USD

Daily. Pound has probably completed the wave (IV), and now we are seeing the construction of a rising impulse wave (V). In this situation it is necessary to consider an alternative scenario, according to which the wave (IV) isn’t complete yet. In this case, we’ll see further complex corrective movement.

Chart 2. Daily GBP/USD

H4. Here’s the layout of the main scenario. According to it, in the near future GBP/USD will continue building then upward wave (V).

Chart. H4 GBP/USD

http://fxbazooka.com/en/analitycs/show/845

[⭐ kaito kid]

EUR/USD: Elliott waves (Nov. 18)

Weekly. The pair keeps forming a global convergent triangle. Wave [D] is complete. We are seeing the beginning of construction of the descending wave [E].

Chart 1. Weekly EUR/USD

Daily. Wave [D] took the form of a double Zigzag W – X – Y. We saw a decrease in the impulse wave [1] and the construction of a small correctional wave [2]. When the wave [2] is formed, we expect the decline to continue in wave [3].

Chart 2. Daily EUR/USD

H4. Here’s the detailed layout of the last section. Wave [2] is taking the form of a double Zigzag. The detailed layout of this section is difficult for now. Most likely in the near future we will see a slight rise, and then a decline in the impulse wave [3] will start.

Chart. H4 EUR/USD

Roman Petuchov for FBS

http://fxbazooka.com/en/analitycs/show/848

[⭐ kaito kid]

How will banks trade this week?

Morgan Stanley closed EUR/USD and GBP/USD shorts from $1.3450 and $1.6060 at $1.3500 and $1.6100 respectively. The bank remains bearish on EUR and expects the move below $1.3420 to signal a decline towards $1.3300 and probably $1.3215. As for cable, MS is bullish now and set a buy limit at $1.6050, with a target at $1.6300, and a stop at $1.5980. In addition, the strategists took profit on AUD/USD short from $0.9520 at $0.9390 (initial target lay at $0.9100).

Citi is prepared to sell EUR/USD on rallies as they think the single currency will stay vulnerable ahead of the ECB’s December meeting. The bank also points out that the RBA officials may once again try to talk Aussie down this week.

Nordea Markets is, on the contrary, rather positive about euro. The specialists believe that once EUR/USD settles above $1.3515 returning to the uptrend channel, it will head to new highs within afew months. Nordea closed the GBP/USD short and will reconsider selling only in case of a move towards $1.5850. The analysts also propose re-entering USD/JPY short below 99.50. The bank closed AUD/USD short last week at a profit, but remains short on NZD/USD. As for USD/CAD, a close at 1.0420 will make them position for a potential reversal to 1.0300/1.0280 area.

http://fxbazooka.com/en/analitycs/show/849

[⭐ kaito kid]

Nov. 19: Asian session

US dollar stayed generally weaker on Tuesdays morning on expectations that the Federal Reserve will keep its easy policy stance and on sharpened appetite for risk following China’s pledge to expand economic freedoms.

EUR/USD is trading just above $1.3500. The pair’s staying above the daily Ichimoku Cloud. On Monday the pair tested $1.3541, but then closed at $1.3505. More resistance comes at $1.3560 (50% Fibo of the decline from October). Watch German ZEW economic sentiment at 10:00 GMT. Later in the day there will be a bunch of the Fed speakers (Dudley at 15:00 GMT, Evans at 19:15 GMT, Fed Chairman Bernanke tonight at 00:00 GMT). New York Fed President William C. Dudley said yesterday he’s more hopeful about the economy while indicating no change in bond buying. GBP/USD is trading a bit on the downside, in the $1.6100 area after testing $1.6148 yesterday.

USD/JPY is trading under pressure for a second day in a row. The pair dipped to 99.60 earlier in the session, has recovered some ground as of writing, but still remains below the key 100.00 mark. Demand for the “safe” yen was raised by the Fed-induced decline in US and Japanese share prices. USD/CHF is trading at the lower edge of the daily Ichimoku Cloud and the 55-day MA in the 0.9125 area. The pair spiked down to 0.9095 yesterday, but then managed to close at the edge of the Cloud.

AUD/USD has rebounded to $0.9390 on Tuesday. Yesterday the Aussie attempted to strengthen, but reversed down from $0.9420 and dipped to $0.9350. The RBA minutes released today show that the central bank saw it prudent to hold rates unchanged, but left the door open for further easing if needed. NZD/USD weakened to $0.8300 after having peaked at $0.8400 on Monday. New Zealand Q3 CPI came below the expectations at 0.2% (forecast: 0.3%, prior: 0.4%). USD/CAD rose to 1.0435 after hitting 1.0414 yesterday. The bulls are probably going to try closing this week’s opening gap (1.0445), small as it is.

http://fxbazooka.com/en/news/show/708

[⭐ kaito kid]

Key currency options

Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (14:00 GMT).

Here are the key options expiring today:

EUR/USD: $1.3400, $1.3465, $1.3470, $1.3480, $1.3490;

GBP/USD: $1.5975, $1.5995, $1.6100;

USD/JPY: 98.75, 99.30, 99.55, 99.70, 99.75 (large), 100.00 (large), 100.60 (large), 100.75, 101.00;

AUD/USD: 0.9325, 0.9330, 0.9340, 0.9370, 0.9400;

USD/CAD: 1.0500;

NZD/USD: 0.8350;

EUR/JPY: 135.00;

EUR/GBP: 0.8435;

AUD/JPY: 93.00 93.90 94.00.

http://fxbazooka.com/en/news/show/709

[⭐ kaito kid]

Trade signals from Danske Bank (19.11)

EUR/USD: Short at $1.3508 with a target of $1.3318 and a stop at $1.3566

USD/JPY: Long at 99.55 with a target of 100.62 and a stop at 98.90

GBP/USD: Sell at $1.6179 with a target of $1.5988 and a stop at $1.6262

USD/CHF: Long at 0.9113 with an initial target of 0.9226 and a stop at 0.9064

AUD/USD: Possibly buy

USD/CAD: Long at 1.0430 with an initial target of 1.0569 and a stop at 1.0395[/b]

* Danske Bank traders use trailing stop orders

http://fxbazooka.com/en/analitycs/show/851

[⭐ kaito kid]

Morgan Stanley: buy GBP/USD

Morgan Stanley turned bullish on cable and opened a buy limit order at $1.6050, with a target at $1.6300 and a stop at $1.5980. Strategists exited its short GBP/USD position from $1.6060 on a small loss at $1.6100.

"Given the relative growth performance of the UK, we now expect some further near-term support for GBP. While this is likely to be emphasised on the crosses, there is potential for GBP/USD to move higher in the near term. Hence, we recommend a cautious near-term tactical GBP/USD long ," Morgan Stanley clarifies.

Chart. Daily GBP/USD

http://fxbazooka.com/en/analitycs/show/856

[⭐ kaito kid]

FBS: AUD/USD is trying to push up

AUD/USD breached up from the downtrend channel from Oct. 23 and rose today to $1.9450. Last week the pair has stayed above the 100-day MA currently at $0.9275 and 50% Fibo of the advance from August to October at $0.9305. Note that on the weekly chart there’s a hammer with a long lower shadow – a bullish candle. H4 shows that there’s a kind of double bottom below $0.9400.

This week Aussie enjoys support of the daily Ichimoku Cloud. The close above the 55-day MA ($0.9423) would be a positive sign allowing another attempt to test $0.9500 and $0.9545 – we favor this scenario. If the bulls manage to break above the latter, they’ll become able to test the 200-day MA in the $0.9650 zone. Yesterday, however, the 55-day MA capped the prices.

Australian currency rallied as a report showed China plans to reduce its intervention in the foreign-exchange market. It seems, however, that Australian bulls need more dovish comments out of the US. Watch the Fed’s Chairman Ben Bernanke speak at 00:00 GMT.

Chart. Daily AUD/USD

http://fxbazooka.com/en/analitycs/show/855

[⭐ kaito kid]

EUR/USD: news from the battlefield

EUR/USD keeps trading between the uptrend line on the upside and the daily Ichimoku Cloud and 38.2% Fibo on the downside.

We are expecting data release (German ZEW economic sentiment index at 10:00 GMT – the forecast is rather nice, an increase’s expected).

The bulls need to push euro above $1.3550 to extend correction up. There will be still more resistance at $1.3560 (50% Fibo of the decline from October), $1.3580 and $1.3630. We’ll get the first indication of a top being formed if EUR/USD slides below $1.3494 (yesterday’s low) and $1.3475 (short-term trend line). Further support is at $1.3415 and $1.3375.

Westpac will be looking to sell EUR/USD in the $1.3550 area. Credit Suisse also expects failure at $1.3548/68 and turn down to $1.3435/32, $1.3390 and $1.3359.

Chart. H4 EUR/USD

http://fxbazooka.com/en/analitycs/show/852

[⭐ kaito kid]

Nov. 20: Asian session

US dollar weakened versus the other major currencies as the Fed’s Governor Bernanke in his speech (started at 00:00 GMT) repeated the regulator will continue the accommodative policy as long as needed. His speech has actually echoed the dovish comments by his nominated successor, Janet Yellen: Bernanke said the economy had made a significant progress, but it was still far from the levels needed to taper. He underlined the officials needed evidence of sustainable job growth before scaling back the QE. Bernanke has also added that interest rates were likely to remain near zero for a considerable time after the asset purchases end.

As a result, the EUR/USD currency pair spiked to $1.3575 before retreating a little lower into the $1.3550 area. Euro is trying to reenter the bullish channel, formed in July. GBP/USD has also pushed higher, but stayed below the $1.6145 resistance. The Bank of England will publish its November meeting minutes at 9:30 GMT. MPC members Dale and Weale are scheduled to speak today.

AUD/USD slipped to the $0.9400 mark after having met a solid resistance near $0.9450. Aussie was pressured by the RBA Governor Debelle comments that a lower AUD would be preferable for the central bank. NZD/USD moved up, but was capped at $0.8390. USD/CAD slipped to 1.0450 before recovering to 1.0470.

USD/JPY had a quiet session, strengthening to 100.22 before floating lower to 99.90.Later on Wednesday, the yen be influenced by a report on planned reforms to Japan's Government Pension Investment Fund (8:30 GMT). The report may contain some recommendations for the GPIF to away from very low-yielding Japanese government bonds. USD/CHF dipped to 0.9077 earlier in the session, but later has returned back above the 0.9100 mark.

Later in the day the market focus will be on a batch of US data, including retail sales and consumer prices, as well as the minutes of the Fed's October policy meeting

http://fxbazooka.com/en/news/show/712

[⭐ kaito kid]

Key currency options (20.11)

Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (14:00 GMT).

Here are the key options expiring today:

EUR/USD: $1.3455, $1.3465, $1.3500, $1.3530, $1.3600;

GBP/USD: $1.6100;

USD/JPY: 99.00, 99.30, 99.50, 99.90, 100.00, 100.50;

AUD/USD: 0.9295, 0.9375, 0.9400, 0.9450;

EUR/JPY: 135.25;

EUR/CHF: 1.2365;

AUD/JPY: 95.00;

CAD/JPY: 94.50.

http://fxbazooka.com/en/news/show/709

[⭐ kaito kid]

GBP up on the BoE minutes

The British pound has got another round of support post the release of the MPC minues, touching a fresh high of $1.6160 (highest since Oct. 28). As expected, the MPC members unanimously voted to leave the rates and the QE program unchanged at 0.5% and £375 billion respectively.

The BoE minutes also show the economy is sustainably recovering, but downside risks for UK growth still exist. Uncertainty still persists that the pace of productivity could increase faster than the demand. Regarding the inflation, the BoE stressed that expectations remain firmly anchored, adding that a strong GBP would keep downward pressure on prices. The BoE emphasized once again that the unemployment rate at the 7% threshold does not necessarily represent a trigger for hiking rates.

http://fxbazooka.com/en/news/show/714

[⭐ kaito kid]

Trade signals from Danske Bank (20.11)

EUR/USD: Buy at 1.3528 with a target of 1.3627 and a stop at 1.3474

USD/JPY: Long at 99.93 with a target of 101.05 and a stop at 99.45

GBP/USD: Sell at $1.6179 with a target of $1.5988 and a stop at $1.6262

USD/CHF: Long at 0.9113 with an initial target of 0.9226 and a stop at 0.9064

AUD/USD: Possibly buy

USD/CAD: Long at 1.0430 with an initial target of 1.0569 and a stop at 1.0395

* Danske Bank traders use trailing stop orders

http://fxbazooka.com/en/analitycs/show/858

[⭐ kaito kid]

EUR/USD: waiting for the US data

By Kira Iukhtenko, FX BAZOOKA

The EUR/USD pair has found support at $1.3530 on Wednesday, coming down from the overnight peaks around $1.3575, reached on dovish Bernanke comments.

Daily. As can be seen from the daily chart, euro is trying to return into bullish channel it left on November 7. The rebound is additionally troubled by the 50-day MA that almost coincides with the channel support (currently at $1.3540/35). The pair is supported by the daily Ichimoku cloud (top around $1.3500).

Chart 1. Daily EUR/USD

H4. We see that EUR/USD rose above the bearish 4-hour Ichimoku cloud. It is also clearly seen from this timeframe that strong resistance is concentrated in the $1.3535/75 area (Nov. 6 high, 50% Fibonacci from the recent decline, trendline).

Chart 2. H4 EUR/USD

Economic calendar: There are no important data on the euro zone's agenda on Wednesday. All eyes are on the news from the US - CPI, retail sales, existing home sales and the FOMC October meeting minutes.

Conclusions: For now euro remains under a slight bearish pressure, but a daily close above the $1.3545/75 area would become a good buying signal.

http://fxbazooka.com/en/analitycs/show/859

[⭐ kaito kid]

Nov. 21: Asian session

EUR/USD is testing support around $1.3415 (23.6% and 38.2% Fibo retracements). Yesterday euro met resistance at $1.3580 and fell by more than 100 pips. Euro got under additional pressure after people with knowledge of the discussion said the ECB may do more easing and cut its deposit rate to minus 0.1%. Today watch a bunch of PMIs released in the euro area at 08:00-09:00 GMT. Later today US will release the unemployment claims, PPI (13:30 GMT) and Philly Fed manufacturing index (15:00 GMT).

GBP/USD hit $1.6071 after it spiked to $1.6178 yesterday. The Bank of England’s minutes released on Wednesday gave pound initial lift, but then the Fed overshadowed that news. Watch British public sector net borrowing (09:30 GMT) and CBI industrial order expectations (11:00 GMT).

USD/JPY rose to a fresh 2-month high of 100.50 (close to the September highs of 100.60), but eased by 10 pips lower as of writing. As expected, the Bank of Japan left monetary policy unchanged at a pace of 60–70 trillion yen annual rise in monetary base. The regulator repeated that economy keeps recovering gradually and that the loose policy will continue until the 2% inflation is stabilized. USD/CHF rose to 0.9170, though it’s still trading below Wednesday’s high at 0.9190.

Commodity currencies weakened on increased US tapering expectations and downbeat China data. China HSBC November flash manufacturing PMI came a little bit below the forecast at 50.4 (vs. 50.9 previous and expected). Activity in China's factory sector slowed in this month as new export orders shrank. AUD/USD extends the downside for a second day in a row after having topped at $0.9450 on Wednesday. The pair declined to the $0.9300 mark in today’s Asian trade and approached the key $0.9275 support. Further decline would confirm a short-term head-and-shoulders pattern. RBA Governor Stevens will hold a speech today at 9:05 GMT. There is a chance to hear some dovish comments aimed at talking the Aussie down. NZD/USD follows the Aussie, descending to $0.8235. USD/CAD rose to 1.0469 approaching yesterday’s highs.

http://fxbazooka.com/en/news/show/717

[⭐ kaito kid]

Nov. 21: European session

EUR/USD rose back to $1.3440 after testing $1.3400 handle earlier today. There’s a hammer candle formed on the H4 chart. Euro zone’s PMIs came mixed. There was an improvement in German indices, but the readings for France and the euro area disappointed. It seems that the ECB’s Mario Draghi speech is delayed as plane diverted because of bad weather. Meanwhile, German’s Chancellor Angela Merkel gave some comments signaling readiness to work on EU treaties in order to introduce banking union and defending Germany’s trade surplus and exports.

GBP/USD is trading on the downside, in the $1.6080/70 area. British public sector net borrowing was higher than the analysts thought (6.4B vs. 4.8B) – GBP-negative. The nation’s CBI industrial order expectations, on the other hand, were better than expected and that’s a go0od thing for GBP.

EUR/GBP recovered to 0.8350 after yesterday’s drop from almost 0.8400 to 0.8325.

http://fxbazooka.com/en/news/show/723