Monday, November 2, 2009

Dukascopy Afternoon Forex Overview

Dukascopy

Dukascopy Afternoon Forex Overview

World indexes:
DJIA 1.39%
S&P500 1.41%
NASDAQ 0.81%
CAC40 0.15%
DAX -0.47%
NIKKEI -2.31%
Movers & Shakers:
EUR/GBP +0.85%
AUD/JPY +0.53%
AUD/USD +0.50%
CAD/JPY +0.43%
AUD/NZD +0.31%
CHF/JPY +0.31%
EUR/USD +0.28%
EUR/NOK +0.28%
EUR/JPY +0.26%
NZD/USD +0.15%
USD/NOK -0.05%
EUR/CAD -0.18%
USD/CHF -0.29%
EUR/AUD -0.35%
USD/CAD -0.42%
USD/SEK -0.54%
GBP/USD -0.58%
GBP/JPY -0.62%
GBP/CHF -0.94%
Important levels:
Support Resistance
EUR/USD
1.4662 1.4816
1.4606 1.4915
1.4507 1.4971
GBP/USD
1.6376 1.6546
1.6308 1.6648
1.6206 1.6716
USD/CHF
1.0193 1.0313
1.0115 1.0355
1.0073 1.0433
USD/JPY
89.576 91.181
88.948 92.158
87.971 92.786


SWFX Sentiment Index
Dukascopy analytic desk report
Published: 02 November 2009 at 15.10 GMT
Previous session overview

The US Dollar held firm in Europe this morning. A first attempt to slow the greenbacks rise failed as EURUSD ran into strong resistance at 1.48, later on the pair pulled back to 1.4745 before a new attempt above 1.4800 was seen.

Cable had a volatile morning, from its low at 1.6350 the pair spiked up nearly 100 pips on better than expected UK PMI data for October. But the GBP strength did not last and by lunch-time Cable had reached a new intra-day low of 1.6330.

USDJPY was sidelined in Europe trading 89.85 to 90.25 with no news ahead to move the pair from dead-lock. Japanese markets will be closed on Tuesday 3rd November.

Market expectation

EURUSD: We remain positive for the Dollar as long as the pair can be held underneath of the 1.4820/50 level. Outlook is to retry support at 1.47, a break leads to 1.4650 and may yield 1.45 later on. A break on top stops the Dollars advance and would call for a retry of the 1.50 area by the end of the week.

GBPUSD: 1.6335 / 1.6435 the neutral range for today has held but while underneath of 1.6440 we favor Dollar strength for an attempt towards 1.60. A daily close above 1.6440 stops that view and could see the Pound reach last weeks top above 1.66 once again.

USDJPY: consolidation around the 90.00 area continues. With Japanese markets closed tomorrow we expect a slow day and small ranges, space to rise as high as 91.00 or fall to test the 89.30 support, expect the pair to trade sideways for a day or two.

AUDUSD currently in bullish territory may stretch its high towards 0.9110 with only minor resistance at 0.9065. Strong support at 0.90 is crucial in maintaining upward momentum.

Most important events of the day
Nov 02 Count. Event For Unit Imp. Act. Cons. Prev.
00:30 AU  AU House Price Index Q3 % q/q 4.2 3 4.2
00:30 AU  AU House Price Index Q3 % y/y 6.2 4.3 -0.7
07:30 SE  SE Manuf. PMI (sa) Oct index 56.7 55.9
08:30 CH  CH Manuf. PMI Oct index 54 54.9 54.3
08:30 DK  DK Retail Sales Sep % m/m -1.7 -1.3
08:30 DK  DK Retail Sales Sep % y/y -1.7 -4.6
08:45 IT  IT Manuf. PMI Oct index 49.2 48.8 47.6
08:50 FR  FR Manuf. PMI (F) Oct index 55.6 55.3 55.3
08:55 DE  DE Manufacturing PMI (F) Oct index 51.0 51.1 51.1
09:00 NO  NO C2 Credit growth indicator Sep % y/y 5.5 5.6 5.9
09:00 EU  EU Manufacturing PMI (F) Oct index 50.7 50.7 50.7
09:30 GB  GB CIPS Manuf. PMI Oct index 53.7 50 49.5
10:00 DK  DK Manuf. PMI Oct index 48.5 37.4
14:30 US  US Fed Board Governor Tarullo participates in a Center for Financial Policy roundtable discussion on "Executive Compensation: Practices and Reforms"
15:00 US  US Construction Spending Sep % m/m -0.3 0.8
15:00 US  US Help Wanted Index Oct index
15:00 US  US ISM Survey (Manf.) Oct index 52.9
15:00 US  US Pending Home Sales Aug % m/m 6.4
15:00 US  US ISM Manufacturing Oct index 53 52.6
16:30 CH  CH SNB Governing Board member Jordan to hold speech in Berne
18:00 IT  IT Budget Balance Oct EUR mn -11.8
21:45 NZ  NZ Labour Cost Index Q3 % q/q 0.4


Disclaimer: the data made available by Dukascopy (Suisse) SAis for informational purposes only. Publication of this data by Dukascopy (Suisse) SA does not constitute provision of investment advice and Dukascopy (Suisse) SA assumes no responsibility with regard toany information, forecast or recommendation herein contained and assumes no responsibility with regard toany losses resulting from any activities conducted the basis of this data, including any investment decisions.

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