Month: April 2013

Senate Finance Committee OKs CMS Nominee
Almost 100 dead after building with 2,000 people inside collapses in Bangladesh
Boeing 1Q profit rises 20 percent

Ex-Credit Suisse trader pleads guilty in MBS pricing case
New low-end iPhone expected to cost half as much as iPhone 5, margins seen at 38%
Credit Suisse to pay $400 million to end U.S. bond lawsuits

U.S. appeals court expedites BP spill claims case
US not sure Syria’s Assad used chemical arms
Netflix shares jump as subscribers rise; margins seen following

From supermodel to super in debt! Janice Dickinson is broke. The former supermodel has officially declared bankruptcy. Turns out the 58-year old owes close to one million dollars in unpaid taxes that date back almost ten years and doctor’s fees from plastic surgery procedures. Famous for her unfiltered mouth and care-free attitude, this is one situation Janice isn’t taking lightly. She swears to take every step in paying everyone back. Good luck getting back on track with those finances, Janice!

Netflix shares jump as subscribers rise; margins seen following
HSBC to shed 1,149 UK jobs in new round of cutbacks
Netflix Has Almost Already Paid for ‘House of Cards’ in New Subscribers

Cypriot finance minister tells Reuters gold sale is not a priority, and currency controls could be eased in days or weeks. Rough Cut (no reporter narration).

By CountingPips

EUR/USD remains above Major Support & Resistance Level

The EUR/USD currency pair has failed to provide much movement in today’s forex trading action and hovers above the 1.3000 major level at the end of the US trading session. The pair is consolidating at the 200-day moving average (purple line) and has been in a trading range from approximately 1.3000 to 1.3200 since the daily close on April 8th.

Outlook for this pair is bearish on the long term and a neutral-to-bearish leaning in the short term with a close and break below 1.3000 confirming the downtrend. Downside targets of 1.2875 and 1.2750 would loom on a breakdown. A close and break above the previous support/resistance level around 1.3150 would push the case for short term bullish bias and bring the 1.3300 level into play.

EUR/USD Data & Trends

Pivot Point Levels:

Weekly Pivot Point: 1.30922
Monthly Pivot Point: 1.28883

Linear Regression Indicator Trend Strength Data:

30-day current trend is BULLISH / Trend strength of 261.9 pips
60-day current trend is BEARISH / Trend strength of -324.3 pips
90-day current trend is BEARISH / Trend strength of -551.0 pips
180-day current trend is BULLISH / Trend strength of 216.0 pips
365-day current trend is BULLISH / Trend strength of 332.3 pips

 Article by CountingPips Forex Research

It was a tough start to the week for many air travelers. Flight delays piled up all along the East Coast Monday as thousands of air traffic controllers were forced to take an unpaid day off because of federal budget cuts. (April 21)

Investigators Dig for Roots of Bomb Suspects’ Radicalization
Israeli airlines end strike over EU deal
No Bunker-Buster Bomb in Israel’s U.S. Arms Deal

Weekly Commitment of Traders Data by CFTC shows which way Large Traders and Hedge Funds were leaning the previous week in the Futures Market

By CountingPips.com

The latest weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders slightly increased their total bullish bets of the US dollar last week against the other major foreign currencies. Total speculator positions have seen little movement in the past few months, as you can see from the chart above.

Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, registered an overall US dollar long position of $25.18 billion as of Tuesday April 16th. This was a small increase from the total long position of $25 billion on April 9th, according to position calculations by Reuters (US dollar positions against the total positions of eurofx, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).

Individual Currencies Large Speculators Positions in Futures:

The individual currency contracts quoted directly against the US dollar last week saw increases for the euro, British pound sterling, Swiss franc, Mexican peso and the New Zealand dollar while the Japanese yen, Australian dollar and the Canadian dollar all had a declining number of net contracts for the week.

Individual Currency Charts: (Please Click on Chart to Enlarge)

EuroFX: Weekly change of +21,094

EuroFX: Large trader positions for the euro advanced last week for second consecutive week. Euro contracts improved to a total net position of -29,764 contracts in the data reported for April 16th following the previous week’s total of -50,858 net contracts on April 9th.

This is a change of +21,094 contracts for the week compared to previous week’s change of +14,843.

British Pound Sterling: Weekly change of +7,994

GBP: British pound spec positions improved last week to its best level in about a month after falling to the lowest level of 2013 previously. British pound speculative positions rose last week to a total of -61,975 net contracts on April 16th following a total of -69,969 net contracts reported for April 9th.

This was a weekly change of +7,994 in large trader contracts following the previous week’s change of -4,949 contracts.

Japanese Yen: Weekly change of -15,714

JPY: Japanese yen net speculative contracts decreased last week to the lowest level since March 12th after rising for the previous two weeks. Japanese yen positions fell to a total of -93,411 net contracts on April 16th following a total of -77,697 net short contracts on April 9th.

This is a weekly change of -15,714 following the previous week’s change of +474 positions.

Swiss Franc: Weekly change of +6,761

CHF: Swiss franc speculator positions improved last week for a third consecutive week and to the best position since February. Net positions for the Swiss currency futures improved to a total of -3,253 contracts on April 16th following a total of -10,014 net contracts reported for April 9th.

This is a weekly change of +6,761 contracts following the previous week change of +2,001 contracts.

Canadian Dollar: Weekly change of -4,780

CAD: Canadian dollar positions continued to decline last week for a third straight week and to a new low level in 2013. Canadian dollar positions dropped to a total of -75,913 contracts as of April 16th following a total of -71,133 net contracts that were reported for April 9th.

This is a weekly change of -4,780 net contracts following a weekly change of -6,589 the previous week.

Australian Dollar: Weekly change of -24,704

AUD: The Australian dollar declined last week for a third consecutive week and to the lowest level since March 12th. Aussie speculative futures positions declined to a total net amount of +53,175 contracts on April 16th after totaling +77,879 net contracts as of April 9th.

This is a weekly change of -24,704 in net positions following the previous week’s -6,092 change.

New Zealand Dollar: Weekly change of +5,658

NZD: New Zealand dollar speculator positions jump last week to rise for a fourth consecutive week and to a new 2013 high level. NZD contracts rose to a total of +30,808 net long contracts as of April 16th following a total of +25,150 net long contracts on April 9th.

This is a weekly change of +5,658 following the previous week’s change of +6,763 net contracts.

Mexican Peso: Weekly change of +8,746

MXN: Mexican peso speculative contracts rose last week after dipping slightly the previous week. Peso positions rose to a total of +151,288 net speculative positions as of April 16th following a total of +142,542 contracts that were reported for April 9th.

This is a weekly change in net large peso speculator positions of +8,746 contracts following the previous change of -213 contracts.

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 News & Market Analysis