FROM: PETER CRUZ DATE: 20th Sept., 2013 – Fri. Market Brief The USD rebounded against major currencies Thursday, a day after suffering a sharp sell-off from the Federal Reserve’s decision not to reduce its bond-buying programs. The Fed announced on Wednesday the US economy still isn’t healthy enough for the central bank to begin removing its stimulus, surprising the investors who had expected a reduction in its $85-billion-a-month bond-buying program. The dollar fell after the decision, as the central bank’s stimulus tends to weigh on the greenback’s value. The US currency has since recovered, boosted by stronger US data Thursday. The number of Americans filing for new jobless benefits rose by a less-than-expected amount last week, while existing home sales in August climbed to a six-year high. Manufacturing activity in the mid-Atlantic region also jumped to a two-year high, according to a survey by the Philadelphia Fed. On the data slate there’s UK Public Finance for August and Euro-Zone Consumer Confidence. SELL EUR @ 1.3530 OR BETTER – STOP @ 1.3600 – TARGET @ 1.3440 – no change SELL GBP @ 1.6050 OR BETTER – STOP @1.6130 - TARGET @ 1.5965 BUY USD/JPY @ 99.10 OR BETTER – STOP @ 98.50 – TARGET @ 100.50 SELL CL1113 @ 105.70 OR BETTER – STOP @ 106.35 - TARGET @ 103.70 SELL XAU @ 1365 OR BETTER – STOP @ 1380 - TARGET @ 1340 SELL XAG @ 23.10 OR BETTER – STOP @ 23.60 – TARGET @ 22.30 – no change GOOD LUCK AND HAPPY TRADING PLS. NOTE: 1. ALWAYS REMEMBER TO PUT STOPS WHENEVER YOU TRADE, MARKETS ARE VERY VOLATILE. 2. THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS AND IT IS NOT FOR EVERYONE.
Posted on: Fri, 20 Sep 2013 04:03:02 +0000
Trending Topics
Recently Viewed Topics
© 2015