Latest Market News of Forex and Futures http://www.fastbrokers.net/news/getnews.php http://fastbrokers.net/news/view.php?id=3341 http://fastbrokers.net/news/view.php?id=3341 The S&P futures are presently battling our top tier downtrend line and are trading around key levels as far as the continuation of the uptrend is concerned. Our 3rd tier downtrend line runs through 1/14 highs, meaning a break through could result in an eclipse of previous 2010 highs and the psychological 1050 level. Some technical analysts have warned of a double-top, yet we believe the uptrend is very much in play. Tue, 9 Mar 2010 08:00:59 -08:00 http://fastbrokers.net/news/view.php?id=3340 http://fastbrokers.net/news/view.php?id=3340 The Aussie is marching higher after holding strong despite recent weakness in the Pound and Euro. The Aussie continues to outperform due to strong Australian fundamentals and the RBA’s tight monetary policy stance as compared to other central banks. Tue, 9 Mar 2010 07:59:56 -08:00 http://fastbrokers.net/news/view.php?id=3339 http://fastbrokers.net/news/view.php?id=3339 Gold has tacked onto yesterday’s 1% pullback in reaction to a broad-based downturn in the risk trade. Hence, it seems gold is following its negative correlation with the Dollar once again. On the bright side, gold has avoided a retest of its highly psychological $1100/oz level and remains above the lower band of its trading range. Hence, the possibility of a return of gold’s upward momentum is not out of the question as investors lock in profits over the past couple trading sessions. Tue, 9 Mar 2010 07:58:56 -08:00 http://fastbrokers.net/news/view.php?id=3338 http://fastbrokers.net/news/view.php?id=3338 The USD/JPY is settling following Friday’s impressive run on the heels of better than expected U.S. employment data. The data wire has been relatively quiet since then, allowing investors to lock in profits ahead of key release from China. China will print Trade Balance and New Loans data tomorrow followed by Industrial Production, CPI, and a host of other data due during Thursday’s Asia trading session. Tue, 9 Mar 2010 07:58:01 -08:00 http://fastbrokers.net/news/view.php?id=3337 http://fastbrokers.net/news/view.php?id=3337 The Cable is attempting to stabilize right now after dropping below its psychological 1.50 level in the midst of a hefty selloff resulting from weak economic data and cautionary words from Moody’s and Fitch. Yesterday’s RICS number printed well below analyst expectations, confirming last week’s pullback in the Halifax HPI. Tue, 9 Mar 2010 07:56:56 -08:00 http://fastbrokers.net/news/view.php?id=3336 http://fastbrokers.net/news/view.php?id=3336 EUR/USD Drifts Lower with Light News The EUR/USD is drifting lower today after the currency pair was unable to break through previous March highs during yesterday’s run higher. The data wire has been relatively quiet the last couple trading sessions, yet investors are opting to retreat from the risk trade regardless. Both Moody’s and Fitch cautioned that the UK’s financials are still not in a healthy position, likely yielding today’s downturn in the risk trade. Tue, 9 Mar 2010 07:54:19 -08:00 http://fastbrokers.net/news/view.php?id=3335 http://fastbrokers.net/news/view.php?id=3335 Today’s U.S. employment data countered skeptics fearing winter weather slowed hiring. The Non-Farm Employment Change printed stronger than expected while the headline Unemployment Rate held at 9.7% when analysts were anticipating a one basis point bump. Meanwhile, the risk trade is rallying across the board with the Dollar and Yen declining while gold firms. Fri, 5 Mar 2010 08:24:23 -08:00 http://fastbrokers.net/news/view.php?id=3334 http://fastbrokers.net/news/view.php?id=3334 The Aussie has climbed back above its psychological .90 level and is testing previous March highs as the risk trade rallies in reaction to better than expected U.S. employment data. The Aussie is enjoying the development in particular since the RBA just raised rates again and Australia’s economic data has been altogether solid. The Aussie has broken above our key 2nd tier downtrend line again in the process. Our 2nd tier runs through the .92 level. Fri, 5 Mar 2010 08:23:25 -08:00 http://fastbrokers.net/news/view.php?id=3333 http://fastbrokers.net/news/view.php?id=3333 Gold is climbing back towards previous March highs after U.S. employment data printed stronger than analyst expectations. Although the Dollar initially climbed in reaction to the news, the risk trade has since posted a solid rally amid an improving global economic landscape. Uncertainty is cooling in the ECB and the impact from the possibility of a hung UK parliament has sunk in. Therefore, the focus is on today’s improvement in the U.S. labor market and the impact this could have on U.S. Fri, 5 Mar 2010 08:22:26 -08:00 http://fastbrokers.net/news/view.php?id=3332 http://fastbrokers.net/news/view.php?id=3332 The USD/JPY is shooting higher again today in response to stronger than expected U.S. Non-Farm Employment Change and headline Unemployment Rate data. Today’s reaction shows the USD/JPY is more vulnerable to U.S. data releases than most currency pairs at the moment. Volatility in the USD/JPY likely stems from a combination of oversold conditions and the realization that the Fed will likely tighten before the BoJ. Fri, 5 Mar 2010 08:21:28 -08:00