Month: January 2014

A report from the U.K.’s public spending watchdog says the royal household is down to its last $1.6 million in financial reserves.

Britain’s finance minister George Osborne said on Tuesday that new economic growth figures show the recovery is broadly based, and that abandoning the government’s economic plan would be the biggest risk to it continuing. Britain’s economy grew 0.7 percent in the fourth quarter of 2013 and recorded its fastest annual growth since the financial crisis, despite a slight slowdown in the last three months of the year, official data showed on Tuesday.

2014.01.28 13:30 6:30AM ET | EURUSD Currency Pair

Here are the Pivot Points Levels with Support (S) and Resistance (R) for the EURUSD currency pair today. Price action is currently trading at the 1.36475 price level and under the daily pivot point, according to data at 6:30 AM ET. The EURUSD high for the day has been 1.36881 while the low of day has reached to 1.36282. The pair earlier today opened the Asian trading session slightly below the daily pivot and has trended lower to touch below the S1 support level today.

Daily Pivot Point: 1.36800
— S1 – 1.36440
— S2 – 1.36162
— S3 – 1.35802
— R1 – 1.37078
— R2 – 1.37438
— R3 – 1.37716

Weekly Pivot Points: EURUSD

Prices are currently trading just over the weekly pivot point at time of writing. The EURUSD has been on an overall bearish trend this week after opening the trading week higher than the main weekly pivot at 1.3639.

Weekly Pivot Point: 1.36399
— S1 – 1.35410
— S2 – 1.34082
— S3 – 1.33093
— R1 – 1.37727
— R2 – 1.38716
— R3 – 1.40044

By CountingPips.com – Forex Trading Apps & Currency Trade Tools

Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.

2014.01.28 13:30 6:30AM ET | USDJPY Currency Pair

Here are the Pivot Points Levels with Support (S) and Resistance (R) for the USDJPY currency pair today. Price action is currently trading at the 103.078 price level and over the daily pivot point, according to data at 6:30 AM ET. The USDJPY high for the day has been 103.243 while the low of day has reached down to 102.475. The pair earlier today opened the Asian trading session above the daily pivot and has trended higher to above the R1 resistance level.

Daily Pivot Point: 102.406
— S1 – 101.892
— S2 – 101.243
— S3 – 100.729
— R1 – 103.055
— R2 – 103.569
— R3 – 104.218

Weekly Pivot Points: USDJPY

Prices are currently trading over the weekly pivot point at time of writing. The USDJPY has been on an overall bullish trend this week after opening the trading week below the weekly pivot.

Weekly Pivot Point: 103.023
— S1 – 101.213
— S2 – 100.180
— S3 – 98.370
— R1 – 104.056
— R2 – 105.866
— R3 – 106.899

By CountingPips.com – Forex Trading Apps & Currency Trade Tools

Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.

2014.01.28 13:30 6:30AM ET | USDCHF Currency Pair

Here are the Pivot Points Levels with Support (S) and Resistance (R) for the USDCHF currency pair today. Price action is currently trading at the 0.89889 price level and over the daily pivot point, according to data at 6:30 AM ET. The USDCHF high for the day has been 0.90091 while the low of day has reached to 0.89535. The pair earlier today opened the Asian trading session just above the daily pivot and has trended higher to over the R1 resistance level at time of writing.

Daily Pivot Point: 0.89582
— S1 – 0.89329
— S2 – 0.89056
— S3 – 0.88803
— R1 – 0.89855
— R2 – 0.90108
— R3 – 0.90381

Weekly Pivot Points: USDCHF

Prices are currently trading just under the weekly pivot point as the USDCHF has been on an overall bullish trend this week after opening the trading week below the weekly pivot.

Weekly Pivot Point: 0.90000
— S1 – 0.88445
— S2 – 0.87468
— S3 – 0.85913
— R1 – 0.90977
— R2 – 0.92532
— R3 – 0.93509

By CountingPips.com – Forex Trading Apps & Currency Trade Tools

Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.

2014.01.28 13:30 6:30AM ET | GBPUSD Currency Pair

Here are the Pivot Points Levels with Support (S) and Resistance (R) for the GBPUSD currency pair today. Price action is currently trading at the 1.65702 price level and over the daily pivot point, according to data at 6:30 AM ET. The GBPUSD high for the day has been 1.66244 while the low of day reached to 1.65347. The pair earlier today opened the Asian trading session above the daily pivot and trended higher to the R1 resistance level before coming back to the main pivot where support was found.

Daily Pivot Point: 1.65479
— S1 – 1.65082
— S2 – 1.64332
— S3 – 1.63935
— R1 – 1.66229
— R2 – 1.66626
— R3 – 1.67376

Weekly Pivot Points: GBPUSD

Prices are currently trading over the weekly pivot point at time of writing. The GBPUSD has been on an overall bullish trend this week after opening the trading week below the weekly pivot. The pair has found selling resistance near the R1 resistance area so far this week.

Weekly Pivot Point: 1.65125
— S1 – 1.63579
— S2 – 1.62398
— S3 – 1.60852
— R1 – 1.66306
— R2 – 1.67852
— R3 – 1.69033

By CountingPips.com – Forex Trading Apps & Currency Trade Tools

Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.

Jeroen Dijsselbloem Dutch finance minister and Eurogroup president tells WSJ’s Matina Stevis at The World Economic Forum that the worst of the euro crisis is behind us, but the bloc’s banks are gearing up for a tough review and governments mustn’t relent on budget reforms.

By CountingPips.com

Fundamental Outlook – Fed Tapering to highlight the week

In addition to the interest rate meetings this week, we will see GDP reports out of the UK, the US and Canada while we will also see German employment data for January as well as the consumer price index out of Germany.

Here’s a quick rundown of this week’s major economic highlights:

Tuesday, January 28
United Kingdom — GDP report
United States — durable goods orders
United States — consumer confidence

Wednesday, January 29
United States — FOMC interest rate meeting
United States — fed QE3 decision
New Zealand — interest rate decision

Thursday, January 30
Eurozone — Germany unemployment change
Eurozone — Germany consumer price index
United States — GDP report
United States — personal consumption expenditure
Japan — national consumer price index

Friday, January 31
euro zone — consumer price index
Canada — GDP report

Please see our full calendar for a complete listing of economic events.

Madagascar’s new president Hery Rajaonarimampianina took office on Saturday, pledging to create an investment-friendly climate in the Indian Ocean island. The World Bank said on Friday the next step of forming a government was crucial and resumption of normal lending hinged on the appointment of a new prime minister. The former finance minister won the presidential election on December 20, the first in the country since the 2009 coup that plunged Madagascar into a political crisis that has sharply slowed economic growth and deepened poverty.

By CountingPips.com

Large Speculator bullish bets advanced to $25.89 billion on January 21st

The latest data for the weekly Commitments of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and futures speculators added to their overall bullish position of the US dollar for a third week and to a new highest level since July.

Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, had an overall US dollar long position totaling $25.89 billion as of Tuesday January 21st, according to data from Reuters. This was a weekly change of +$3.23 billion from the $22.66 billion total bullish position that was registered on January 14th, according to the calculations by Reuters that totals the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.

The US dollar aggregate positions on January 21st mark the highest level since July 23rd when net US dollar bullish bets equaled $28.69 billion.

Net Contract Standings for the week:

Individual Currencies – Large Speculator Weekly changes:

The non-commercial net positions for each of the individual currencies directly against the US dollar showed weekly gains for the Japanese yen and the Swiss franc while there were weekly shortfalls for the euro, British pound sterling, Canadian dollar, Australian dollar, New Zealand dollar and the Mexican peso. See charts & data below.

Individual Currency Charts: Large & Small Speculator Positions vs Spot Price

EuroFX:

Last Six Weeks data for EuroFX futures

British Pound Sterling:

Last Six Weeks data for Pound Sterling futures

Japanese Yen:

Last Six Weeks data for Yen Futures

Swiss Franc:

Last Six Weeks data for Franc futures

Canadian Dollar:

Last Six Weeks data for Canadian dollar futures

Australian Dollar:

Last Six Weeks data for Australian dollar futures

New Zealand Dollar:

Last Six Weeks data for New Zealand dollar futures

Mexican Peso:

Last Six Weeks data for Mexican Peso futures

*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).

The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).

Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.

(The graphs overlay the forex spot closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.)

See more information and explanation on the weekly COT report from the CFTC website.

Article by CountingPips.com – Forex Apps & News