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USD/JPY – Bounced from Support as Predicted The USD/JPY pair bounced from its support zone on a 30 minute time frame. This support zone was given in our analysis yesterday... Asian markets closed modestly higher on the last day of the week. The Nikkei 225 which lost over 7.1% yesterday was able to recoup some of its losses today and... The EUR/USD pair has formed a reverse complex Head & Shoulder pattern on a 30 minute time frame. The price is trading above the 50 day (shown in green) and...


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  • Dollar firmer after US Durable Goods rise 3.3%, ex-Transport up 1.3%. GBPUSD at lows of Europe session at 1.5085, EURUSD 1.2925, USDJPY 101.55.

  • German IFO data better than expected and proving a modest lift for the single currency. The headline index rose to 105.7, from 104.4, with the increase solely owing to a rise in manufacturers assessment of current conditions, rather than expectations ahead. This could offer some further hope that German...

  • The dollar weaker on the back of the headlines ahead of US Fed Chairman Bernanke's testimony today. The one that weakened the dollar was the reference to a premature tightening of rates. He said " A premature tightening of monetary policy could lead interest rates to rise temporarily but would...

 

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  • European markets closed in the red while US markets are trading lower, adding to yesterday’s losses, as investors remained cautious amid continued speculation that the US Federal Reserve would scale back its bond buying programme.

  • Facebook (FB) has been under pressure since it peaked at 29.07 in early May. It closed yesterday at 25.06 rejecting the important March 27 low at 24.72. Based on this and the company's continuing momentum we expect a reversal in the share price.

  • The JPY crosses remain nervous – will NZDJPY follow AUDJPY in tripping through the next layers of support. The near term momentum suggests risks of further downside momentum.


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Daily Forex News - Swissquote Bank SA
  • Liquidation of risky asset became a complete purge by yesterday mid European session with no stock markets unscathed. If there was any doubt that the downside would be limited to Asia, -2.93% fall in the SMI eased those thoughts. The culprit was the Fed minutes which were slightly more optimistic...

  • Sorry to say this but the Fed President Bernanke hinted little on when the most expected tapering of bond purchases might begin. The markets were reminded that the gradual decrease in QE will begin when the labor market will show “substantial” improvement, while the FOMC minutes showed that the majority...

Forex.com logoGain Capital (Forex.com) held its annual shareholder meeting last week, and showed its shareholders a presentation containing some not-seen-before details on both its operations and strategic plans for the coming months.

One of the key numbers which stands out is that mobile trading averaged about $14.3 billion per month in Q1, or about 11% of Gain's $128 billion per month in retail volume. Mobile volume at Gain was thus up 330% over the past year. We believe that a lot of this gain (no pun intended) is due to Gain Capital's push in China and elsewhere in Asia, where adoption and use of mobile devices generally is well ahead of North America and Europe, especially when it comes to uses such as engaging in financial transactions.

Gain also announced a major strategic initiative planned for later this year to revamp its CFD offerings, and incorporate more community and social trading features. CFDs have been a weak area for Gain in the past.

Gain is coming off a very weak Q1, when it reported its second consecutive quarterly net loss.

For more on the global FX market see the LeapRate-Dow Jones Forex Industry Report.

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