EurAnalysis

Morning...

Nice View

Looks exciting

Spanish 10-year bond yield is up 3.7 bps to 6.82%, Italian benchmark yields up 2.7 bps to 5.96%. German benchmark yield is down 2.9 bps.
8 Aug 9:50:48

dollar up and usd cad stuck!

Just look at the difference between hourly candles on E/U, G/U and A/U.
Only strong dollar so far is Australian dollar.
With strong USD, situation on E/U would be much clearer.

For U/CAD bullish continuation, we need two conditions.

1. Crude prices have to come down.
2. CAD employment numbers this Friday come in worse than expected.

http://www.actionforex.com/action-in...0120808171646/

Risk appetite is losing some steam in Asia today even though S&P 500 managed to close above 1400 level for the first time since May overnight. Euro is struggling to find sustainable buying to extend last week's rebound while other major currencies also weakened mildly against dollar and yen in Asian session. S&P lowered Greece's CCC rating outlook to negative from stable. The rating agency noted that it reflects the "possibility of a downgrade if Greece fails to secure the next disbursement of the EU/IMF Program." And the rating agency noted that "deepening contraction" in Greece implies a "high likelihood" that additional financing of as much as EUR 7b is needed this year. Meanwhile, S&P also noted that such estimate could be reduced if the target deficit reduction for Greece or other burdens could be eased. Earlier this week, , it's reported that IMF is pushing Eurozone leaders to lower Greece's burden, possibly in form of lowering interest rates on loan to Greece, ECB and others to have another 30% haircuts.

In US, Boston Fed President Eric Rosengren indicated a large scale easing program is needed to stimulate growth and the job market in the US. At an interview with the CNBC Rosengren, a voter in the FOMC in 2013, called for an "open-ended" QE program of "substantial magnitude". The program "needs to be substantial enough that it offsets some of the shocks that we're getting from abroad and some of the concerns that people have with how weak the world economy has been". His comments, together with Fed chairman Ben Bernanke's comments earlier this week, raised further hopes that the Fed would soon implement QE3 as a boost of the US economy.

BoE quarterly inflation report will be a major focus today. The central bank is expected to lower its growth and inflation projections and could pave way for expanding the asset purchase program further. BoE resumed the bond buying program last month by launching a 4-month, GBP 50b expansion. But recent economic data has somewhat shown deterioration in UK's economy, with -0.7% qoq contraction in Q2 GDP. EUR/GBP will be a cross to watch today. The cross rebound from 0.7755 as markets are hoping actions from ECB to lower peripheral yields. Receding safe haven flow into sterling drove EUR/GBP high in the past two weeks. Technically, it's still staying well inside a near term falling channel and thus, there is no change in the larger bearish outlook. But as it's already near to the boundary of the channel, traders will soon make a clear decision on which direction to push EUR/GBP further. In short, we'll see whether EUR/GBP could power through 0.8 psychological level, or reversal from there soon.

On the data front, New Zealand building permits unexpectedly dropped -2.5% mom in July. Australia home loan rose less than expected by 1.3% in June. Japan eco watchers current reading improved to 44.2 in July. Swiss SECO consumer confidence, German trade balance and industrial production, US non-farm productivity and unit labor costs will be released today.

http://www.actionforex.com/action-in...0120808171659/

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.2369; (P) 1.2405 (R1) 1.2435; More.....
With 4 hours MACD crossed below signal line, intraday bias in EUR/USD is turned neutral for the moment. As long as 1.2133 minor support holds. Rebound from 1.2042 is still in favor to continue. Above 1.2443 will target 1.2747 (50% retracement of 1.3486 to 1.2042 at 1.2764) key resistance level next. However, break of 1.2133 will suggest that rebound from 1.2042 is merely a correction and has completed. In such case, EUR/USD should head for a retest on 1.2 psychological level again.

In the bigger picture, fall from 1.4939 is treated as a falling leg inside the consolidation pattern that started at 1.6039 (2008 high). Bullish convergence condition in daily MACD raises the possibility of reversal. But we'd prefer to see sustained break of 1.2747/2764 resistance zone to give us more confidence. In such case, stronger rise should be seen to 1.3486 resistance for confirmation. But before that, another decline could still be seen to 1.1875 and below.

http://www.actionforex.com/images/st...20120808a1.gif

Support @ 2364 for over 2hrs.Damn this trend is killing me.pls can any one just push it up.LOL

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you can't train a cat. cats are independent, they only shoot when they want

You mean push it down!!

Does your cat have bad habits that drive you crazy? Train your cat not to jump up on kitchen counters, climb on the couch, scratch on furniture, or whatever behavior you want to stop. Here's how.

•If you have a new kitten, teach it acceptable behaviors from day one. For instance, do not feed it on or near the table, so that it will not look for food on there.
•Making scratching posts available to your cat and praising them when they use them greatly reduces the likelihood that they will scratch your furniture. It is important for cats to be able to scratch on things, and if nothing is available, your furniture seems like a great alternative. If scratching posts do not seem to be getting their attention, try treating them with catnip spray or flakes. If you can't afford a scratching post, try to find a long and tapered piece of wood, then glue some old, soft carpet to it. This works great for all ages and sizes of cats.

lol keep dreaming

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German CDU party member Meister speaking. Probably reason for the uptick.

Edit: He says ECB bond buying should warn speculators off the EURO!

Ohhhhh. I'm scra-a-a-a-r-r-r-d-d-d-d

ADD: Okay lemmings... Get this through your thick skull. ECB will not be buying bonds because Spain and Italy will not be applying for aid from the EFSF because they do not want Brussels to dictate their fiscal policies. Plain and simple.

Great... So now not only do we have a Fed QE3 band wagon, but also an ECB SMP band wagon. Both will have flat tires soon enough.

The future for the band wagons...
http://www.publicradio.org/columns/p...mb-400x297.jpg

Today starting to look like groundhog day.

Hey PT... PT hey... !!!
You used your hammer in inappropriate way.
Instead of going down, you made it completely flat...
Use your hammer again, hit it hard this time, hit it!!!