GAINSY Hottest Forecasts

GBP/USD: GBP Moving Southwards In The Asian Session
(GAINSY Fundamental Analysis)

For the 24 hours to 23:00 GMT, GBP ended flat against the USD and closed at 1.5477.

The GBP tracked losses earlier against the US USD, after a member of Monetary Policy Committee, Martin Weale opined that weaker Sterling may have unwelcome effects on inflation, but that it may be necessary to redress UK’s 'substantial external imbalance'.

In the Asian session, at GMT0400, the pair is trading at 1.5473, with the GBP trading marginally lower from yesterday’s close. ...

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USD/JPY: JPY Gained As Taro Aso's Comments Overshadowed BoJ Minutes, Trading Tad Lower This Morning
(GAINSY Fundamental Analysis)

Yesterday, Standard & Poor's (S&P) reaffirmed its long-term credit rating on Japan at “AA-” with a “Negative” outlook. It also stated that it would take time to see if current Prime Minister of Japan, Shinzo Abe's policies are effective.

On economic front, Japanese machine tool orders fell 26.4% (YoY) in January, higher than the preliminary estimate of a decline of 26.1% and slower than a fall of 27.5% reported in the previous month.

In the Asian session, at GMT0400, the pair is trading at 93.64, with the USD trading marginally higher from yesterday's close. ...

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USD/CAD: Loonie Trading Almost Flat This Morning
(GAINSY Fundamental Analysis)

For the 24 hours to 23:00 GMT, the USD rose 0.32% against the CAD to close at 1.0108.

In the Asian session, at GMT0400, the pair is trading at 1.0108, with the USD trading marginally lower from yesterday’s close.

The pair is expected to find support at 1.0068, and a fall through could take it to the next support level of 0.0029. The pair is expected to find its first resistance at 1.0136, and a rise through could take it to the next resistance level of 1.0163. ...

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USD/CHF: Swissy Trading Lower This Morning
(GAINSY Fundamental Analysis)

For the 24 hours to 23:00 GMT, the USD declined marginally against the CHF and closed at 0.9233.

In the Asian session, at GMT0400, the pair is trading at 0.9234, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9209, and a fall through could take it to the next support level of 0.9185. The pair is expected to find its first resistance at 0.9259, and a rise through could take it to the next resistance level of 0.9285. ...

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Eurozone Confidence Data Ahead As Draghi Casts Off Talks Of Currency War
(GAINSY Fundamental Analysis)

Markets are relatively calm ahead of a new string of first-tier confidence data from the euro zone on Tuesday, after European Central Bank Mario Draghi underpinned the impact of the single currency`s strength on growth and inflation.

The euro, unplugged by Draghi's dovish remarks before the EU Parliament yesterday, was little changed around $1.3356 against its U.S. counterpart as of 07:04 GMT, swinging firmly from a session high of $1.3360 and low of $1.3338. ...

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Delayed Reaction In EUR, Crowded Wires In JPY
(GAINSY Fundamental Analysis)

The overnight trading session was dominated by BoJ and RBA minutes. In Australia, RBA highlighted a potential for further easing policy if needed, as the economy reacts to lower rates and the inflation remains in mid-range. In Japan, BoJ minutes gave more insight to 2% inflation target and adopted an open-ended framework for asset purchases.

Asia saw limited enthusiasm as Japanese Finance Minister Taro Aso said that Japan had no intention to purchase foreign bonds, in contrast with the PM Abe, who had told the opposite yesterday in the parliament. On the back of the confusion, JPY strengthened against all of its major counterparts, while the Japanese equities ended the day in red. USDJPY traded in 93.57/97 range in Asia, and extended gains in European opening. EURJPY slipped below 125.00, GBPJPY saw decent sell-off down to 144.75 zone. ...

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Currencies In Wait-And-See Mode
(GAINSY Fundamental Analysis)

- Rates: Bunds slightly higher in dull trading
Modest gains for the Bund in a very quiet session. Volumes traded were the lowest of the year, as US markets were closed and the calendar was almost empty. Some spread widening in Italy and Spain, ahead of Italian elections and Spanish bond auction.

- Currencies: currencies in wait-and-see mode
EUR/USD held a sideways trading pattern. In a hearing before the European Parliament, ECB's Draghi reiterated that the value of the euro is important for growth and inflation, but the impact on trading was limited. The decline of the yen slowed, as Japanese policy makers show some disagreement on the tools to implement monetary policy. ...

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European Shares Little Changed Ahead Of Eurozone Data
(GAINSY Fundamental Analysis)

European equities kicked off Tuesday trading mixed ahead of key economic data from the Eurozone following disappointing earnings report from Danone and Intercontinental Hotels Group.

- Benchmark STOXX Europe 600 decreased 0.03% to 286.68
- STOXX 50 fell 0.06% to 2616.14 ...

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German Investor Confidence Climbs To The Highest In Nearly Three Years, Euro Ticks Up
(GAINSY Fundamental Analysis)

German investor confidence resumed its rise for a third month in Feb. on expectations the debt crisis is abating after the measures taken by European officials managed to restore confidence in the region's biggest economy.

Confidence continued its recoil after it rose in December to seven-month high on expectations Germany will gather momentum in 2013.

ZEW survey economic sentiment leaped to 48.2 this month from a prior of 31.5 and expectations of 35.0, while the current situation gauge slipped to 5.2 from 7.1 January. ...

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EUR On Sidelines, JPY On Hold
(GAINSY Fundamental Analysis)

The sky is still not blue for JPY. The way is still not clear. Despite the relief over the G20 supportive statement, JPY failed to extend weakness as the FinMin Taro Aso said that Japan had no intention to purchase foreign bonds. Yet, the PM Abe had said the opposite in the parliament yesterday. On the back of the confusion, JPY strengthened against all major peers, the Japanese equities retreated.

In Europe, EUR remained muted regarding Draghi's EUR-bearish comments. The ECB's President Draghi mentioned downside risks on the Euro-Zone growth forecast and finally commented on the negative effects of the strong EUR on the inflation profile. Surprisingly, the markets gave insignificant reaction. ...

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Intraday Statement: Euro Steady Despite Strong German ZEW
(GAINSY Technical Analysis)

Euro is staying steadily in range after much stronger than expected German confidence data. The German ZEW economic sentiment rose sharply from 31.5 to 48.2 in February, comparing to expectation of 35. That's also the highest reading since April 2010. However, the current situation gauge unexpectedly decreased or 7.1 to 5.2. ZEW President Wolfgang Franz noted that as German economy "cooled noticeably" at the end of last year but "the rise in investors' economic expectations in February suggest that financial market experts are projecting an improvement in the coming months." Franz also noted that ", the headwinds for the German economy coming from the eurozone crisis are not as strong as they were a few months ago" and Germany will gain modest momentum again in the coming months. Meanwhile, Eurozone ZEW economic sentiment also rose much more than expected to 42.4, up from 31.2. ...

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Elliott Wave Forecast: USD/CAD – Buy at 1.0010
(GAINSY Elliott Wave Analysis)

USD/CAD – 1.0130

Recent wave: Only wave v of c has ended at 0.9407 and A-B-C correction has possibly ended at 1.0658

Trend: Near term up

Original strategy :
Buy at 0.9980, Target: 1.0140, Stop: 0.9920

Target: -
New strategy : ... Are you interested? Follow & Read GAINSY Forex Broker Online

EUR Temporarily Rooted But Is Looking Left
(GAINSY Fundamental Analysis)

IMF's Lagarde admitted last bank week that foreign exchange rates are not far from "fair value." Is this market trying to take her thoughts to task and trade them literally? Most of the recent market movements have been confined to relatively tight spaces. This is certainly not the ideal scenario when promoting the largest and deepest of asset classes. But, what does "fair" value mean? ...

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Central Bank Volatility a Key FX Risk
(GAINSY Fundamental Analysis)

More and more central bankers are determining the near and medium term outlooks for currencies. Recently, the volatility in central bank speak has been remarkable. Take the Swedish Riksbank and the Reserve Bank of Australia; they both surprised the market by being less dovish than expected and failing to signal any near-term rate cuts in recent meetings and minutes.

The minutes from the latest RBA meeting was surprisingly upbeat, saying that since the January meeting global economic conditions had been a "little more positive", and downside risks had "abated somewhat". The minutes also noted the stabilisation in the Chinese economy, Australia’s most important trading partner. They also said that monetary policy was accommodative and it would take some more time for the effects of previous rate cuts to work through the economy. ...

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GBP/USD: GBP Trading Higher Ahead Of The BoE Minutes
(GAINSY Fundamental Analysis)

In the Asian session, at GMT0400, the pair is trading at 1.5443, with the GBP trading 0.1% higher from yesterday’s close, as the traders await key UK employment and minutes of Bank of England releases ahead in the day.

Market participants witnessed disappointing claimant count reading in past and are speculating now for strong reading that could give the GBP a badly-needed boost. Meanwhile, the unemployment rate is expected to remain steady at its current level of 7.7%. ...

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USD/JPY: Doubts Over Monetary Forecast Lends Helping Hand To JPY
(GAINSY Fundamental Analysis)

On the Japanese economic front, the leading economic index rose to a reading of 93.4 in December, following a downwardly revised reading of 92.0 in November, while the coincident economic index advanced to a reading of 92.6 in December, from a reading of 90.2 in the previous month. Also, the Japan Department Store Association reported that on an annual basis, Japan’s nationwide department store sales climbed 0.2% in January, compared to a 1.3% drop in the previous month. Additionally, the Tokyo department store sales rose 0.5% (YoY) in January, following a 1.1% drop in the previous month. ...

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USD/CAD: Disappointing Canadian Wholesale Sales Cast Shadow On The Local Currency
(GAINSY Fundamental Analysis)

For the 24 hours to 23:00 GMT, the USD rose 0.12% against the CAD to close at 1.0119. The Canadian USD weakened as a drop in Canadian wholesale sales in December added to concerns over the outlook for the economy.

Yesterday, wholesale sales declined 0.9% in December to C$49 billion ($48.3 billion) compared to a 0.7% gain recorded in November.

In the Asian session, at GMT0400, the pair is trading at 1.0117, with the USD trading marginally lower from yesterday’s close. ...

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AUD/USD: Australian USD Continues To Capitalize On Latest RBA Minutes
(GAINSY Fundamental Analysis)

For the 24 hours to 23:00 GMT, AUD strengthened 0.30% against the USD to close at 1.0347, following the release of more positive Reserve Bank of Australia's (RBA) minutes than had been anticipated. The minutes indicated that the bank would wait to assess the impact of recent rate cuts before deciding to cut rates again.

LME Copper prices declined 0.1% or $5.5/MT to $8070.0/MT. Aluminium prices declined 0.5% or $10.5/MT to $2075.5/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0360, with the AUD trading 0.13% higher from yesterday's close. ...

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USD/CHF: Swiss Franc Trading Higher Ahead Of The ZEW Survey Expectations Data
(GAINSY Fundamental Analysis)

For the 24 hours to 23:00 GMT, the USD declined 0.13% against the CHF and closed at 0.9222.

Yesterday, the Switzerland National Bank (SNB) Chairman, Thomas Jordan reiterated his stance that the central bank would not exit its policy of capping the currency soon. He stated that the central bank would continue to enforce the minimum exchange rate with utmost determination.

In the Asian session, at GMT0400, the pair is trading at 0.9214, with the USD trading marginally lower from yesterday’s close. ...

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GBP's 'Big Day' Ahead With U.K. Employment Data, BoE Minutes In Focus
(GAINSY Fundamental Analysis)

Traders are standing on the threshold of a hectic session in Europe ahead of the United Kingdom's monthly employment report, minutes of the Bank of England's Monetary Policy Committee, and other first-tier economic releases on Wednesday!

This is going to be big day for the sterling, following the massive selloff that sent the British currency to a seven-month low against the U.S. dollar at some point, even before the newly-appointed successor of Governor Sir Mervyn King possibly shuffles the cards of the central bank. ...

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