Archive for December 2, 2014

FOREX Technical Analysis Report 2nd Dec

Posted: December 2, 2014 in Forex

EUR/USD was trading at 1.2456 from around 1.2454 ahead of the release of the data,as investors remained wary ahead of Thursday monetary policy meeting of the European Central Bank. 1The Euro rose from lows near 1.2420 to near 1.2505 and was around 1.2475 in late US trade on Monday. The Euro zone to dip into deflation in a year’s time, a key market measure showed on Monday, ratcheting up the pressure on the European Central Bank to launch new stimulus measures. Expectations for inflation have been dented by falling oil prices, which hit a five-year low on Monday and are down 40 percent since June, largely due to abundant supply. Signals for Tomorrow
The British Pound advanced against the U.S. Dollar after upbeat manufacturing data,GBP/USD remains under 2selling pressure ahead of today Construction PMI (Nov) report and Bank of England important interest rate on Thursday. U.K Manufacturing index rose to 53.5 in November showed higher reading than in October 53.2.
Aussie gains after RBA leaves rates steady at 2.5%,Australia’s third quarter current account balance showed a deficit 3of A$12.5 billion, narrower than the A$13.5 billion expected, while October building approvals jumped 11.4%, well above an expected for a 5.2% month-on-month rise, and rebounding from a 11% fall in September. AUD/USD traded at 0.8520, up 0.32%.
The dollar pushed higher against the yen on Tuesday,Prime Minister Abe dissolved parliament earlier this month, 4clearing the way for elections to be held on December 15 to seek a fresh mandate for his economic policies, which call for a weaker yen. The decision came after data showing that Japan’s economy unexpectedly fell into recession in the third quarter.
Data Update for 2nd Dec 2014

Time Currency Imact Particualr Forecast Previous
5:20am JPY Monetary Base y/y 37.20% 36.90%
5:30am NZD ANZ Commodity Prices m/m -0.80%
6:00am AUD High Building Approvals m/m 5.20% -11.20%
AUD Current Account -13.5B -13.9B
7:00am JPY Average Cash Earnings y/y 0.80% 0.70%
9:00am AUD High Cash Rate 2.50% 2.50%
AUD High RBA Rate Statement
9:15am JPY 10-y Bond Auction 0.44|3.5
1:30pm EUR Spanish Unemployment Change 21.3K 79.2K
3:00pm GBP High Construction PMI 61.1 61.4
3:30pm EUR PPI m/m 0.30% 0.20%
18:40:00 USD FOMC Member Fischer Speaks
7:00pm USD Fed Chair Yellen Speaks
Tentative NZD High GDT Price Index -3.10%
8:30pm USD Construction Spending m/m 0.60% -0.40%
All Day USD Total Vehicle Sales 16.6M 16.5M
10:30pm USD FOMC Member Brainard Speaks