Forex News (from InstaForex) - page 53
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Technical analysis of EUR/USD for January 8, 2014
Overview:
The EUR/USD pair has been trading in a tight sideway range since January 6, 2013 and the price has also set below the weekly resistance 1 at the level of 1.3743, moreover the price has already formed double bottom at the 1.3571 level. Accordingly, the market will move between 61.8% of Fibonacci retracement levels (1.3743) and 00% of Fibonacci retracement at the price of 1.3571. In particular, it should noted that at the level of 1.3543 which represents the support, we can expect explosive breakout and it is likely that the market is going to start showing the signs of bullish market. In other words, it will be a good sign to buy above double bottom at the level of 1.3543 with a first target at 1.3663 in order to test the weekly pivot point and it will climb towards 1.3728. However, if the the price of the EUR/USD pair breaks 1.3543 and closes below it, the market will indicate a bearish opportunity below 1.3543 then the best location to set stop loss should be at the 1.3545 price.
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China Inflation +2.5% On Year In December
Consumer prices in China were up 2.5 percent on year in December, the National Bureau of Statistics said on Thursday - below forecasts for 2.7 percent and slowing from 3.0 percent in November.
Producer prices were down 1.4 percent on year - unchanged versus forecasts for -1.3 percent.
For all of 2013, consumer prices were up 2.6 percent on year and producer prices dipped 1.9 percent on year.
News are provided by InstaForex.
NZ Dollar Drops To 1-week Low Against Euro
Extending its overnight downtrend, the New Zealand dollar reached a weekly low of 1.6522 against the euro on Friday morning in Asia.
With the pair staying above its key simple moving average levels, the next likely support for the kiwi is seen around the 1.6565 area.
News are provided by InstaForex.
Yen Climbs To 4-day High Against Franc
The Japanese yen strengthened against the Swiss franc in early Asian deals on Monday.
The yen reached a 4-day high of 115.15 against the franc, compared to Friday's close of 115.30. The next possible upside target for the yen lies around the 114.00 zone.
News are provided by InstaForex.
Usd/krw Trades up to 1059.7 As Tokyo Goes on Usd buying Spree
US Dollar strong across the board led by latent USD demand out of Tokyo USD/JPY up to 103.43, UK name, Japan mega bank amongst aggressive buyers.
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Pound At 2-day High Against Euro
The pound strengthened against the euro in Asia on Wednesday. The pound hit a 2-day high of 0.8305 against the euro, up from yesterday's closing quote of 0.8319. Further uptrend could help the pound to face resistance around the 0.82 zone.
News are provided by InstaForex.
UK House Price Balance Dips To 56% - RICS
An index monitoring house prices in the United Kingdom came in with a score of 56 percent in December, the latest survey from the Royal Institution of Chartered Surveyors revealed on Thursday.
That was shy of forecasts for 60 percent, and down from the reading of 58 percent in November - although the index remained above 50 percent for the fourth consecutive month.
Among the individual components of the survey, expectations for an increase in house prices climbed to 61 percent from 59 percent in the previous month.
Also, the sales-to-stock ratio climbed to 35.2 percent from 34.6 percent a month earlier.
News are provided by InstaForex.
Japan Govt. Upgrades Economic Assessment
The Japanese government on Friday revised up its assessment of the economy for the first time in four months, as recovery picked up on the back of improvement in household income and business investment.
"The Japanese economy is recovering at a moderate pace," the Cabinet Office said in its monthly report.
The report noted that the economy may continue to recover as household income and business investment increase.
It also noted that exports were in a weak tone recently. However, industrial production is increasing at a moderate pace, according to the Cabinet Office.
News are provided by InstaForex.
Yen Little Changed Following Japan Industrial Production Data
After the release of Japan's final industrial production data for November in Asian deals on Monday at 11:30 pm ET, the yen changed little against other major currencies.
The yen was trading at 104.05 against the greenback, 170.76 against the pound, 140.76 against the euro and 114.13 against the franc around 11:33 pm ET.
News are provided by InstaForex.
Hong Kong CPI On Tap For Tuesday
Hong Kong will on Tuesday release December figures for inflation, highlighting a light day for Asia-Pacific economic activity. Overall inflation is expected to ease to 4.2 percent on year from 4.3 percent in November. Japan will see December numbers for condominium sales and supermarket sales; in November, they were up 22.3 percent and 0.7 percent on year, respectively.
News are provided by InstaForex.