GBPUSD rising today towards the 1.6700 exchange rate in Forex Trading

2014.03.04 13:30 6:30AM ET | GBPUSD Currency Pair

SC GBPUSD 2014.03.04

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 1.66886 price level and right on top of the daily pivot point, according to data at 6:30 AM ET. The GBPUSD high for the day has been 1.67154 while the low of day has reached to 1.66392. The pair earlier today opened the Asian trading session below the daily pivot and has trended higher over the course of the day with resistance being found around the 1.6700 area.

Daily Pivot Point: 1.66888
— S1 – 1.66278
— S2 – 1.65907
— S3 – 1.65297
— R1 – 1.67259
— R2 – 1.67869
— R3 – 1.68240


Weekly Pivot Points: GBPUSD

SC GBPUSD 2014.03.04

Prices are currently trading just under the weekly pivot point at time of writing. The GBPUSD has been on an overall bearish trend this week after opening the trading week above the weekly pivot.

Weekly Pivot Point: 1.66967
— S1 – 1.66257
— S2 – 1.65111
— S3 – 1.64401
— R1 – 1.68113
— R2 – 1.68823
— R3 – 1.69969


By CountingPips.comForex 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.

 

 

 

VIDEO: Breckenridge Travel Video

The mountain town of Breckenridge is an easy sell to winter activity enthusiasts. Now that the eagerly awaited Peak 6 has opened, this ever-popular ski resort and former mining town can lay claim to having some of the best trails for every type of skier or snowboarder. Recently, AskMen caught up with Alyssa Hetze of the Breckenridge Ski Resort to find out why the storybook mountain resort is a great year-round destination. Turns out skiing is just the tip of the iceberg in Breckenridge. If you’re not inclined to hurl yourself down a snowy mountain with little more than some poles and planks of wood strapped to you, have no fear, you can still get a winter rush by dogsledding, ice skating, tubing, or snowmobiling. The town also hosts dozens of events from the infamous Dew Tour to one of the greatest ice sculpting competitions you’ll ever see. And when all the snow melts, that prime wilderness opens up for a litany of adrenalin-pumping summer activities which include hiking, zip-lining and mountain biking. Breckenridge’s night scene also begs to be explored with over 75 bars and restaurants that can cater to a couple looking for a fancy night or a bachelor party looking for a the legal trouble they can find. Remember, this is Colorado! One thing’s for sure, if you’re hoping to book an outdoorsy vacation for yourself or your family, you owe it to yourself to experience Breckenridge at least once.

VIDEO: The Fiscal Cliff Recedes But U.S. Finances Remain Precarious

When he releases his budget proposal on Tuesday, President Barack Obama will be able to celebrate the smallest deficit since he took office in 2009. He also will be able to enjoy a cease-fire in the fiscal battles that have paralyzed Washington for the past three years. But a troublesome fact lurks behind the good news: Obama and his Republican adversaries still have done little to improve the United States’ long-term fiscal outlook. Though tight spending caps have already shrunk spending by the Pentagon and other government agencies to their lowest levels in 50 years, they will do nothing to slow the steady growth of government health and retirement costs as the nation’s millions of Baby Boomers age.

COT Currency Speculators reduce bullish bets for US Dollar for third straight week

By CountingPips.com

Cot-Values

Large Speculator bullish bets decline to $13.77 billion on February 25th

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 decreased their bullish position of the US dollar for a third consecutive week and to the lowest level since November 2013.

Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, had an overall US dollar long position totaling $13.77 billion as of Tuesday February 25th, according to data from Reuters. This was a weekly change of -$2.51 billion from the $16.28 billion total bullish position that was registered on February 18th, 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 position is now at its lowest level since November 5th when the overall position totaled $7.02 billion.

 

Net Contract Standings for the week:




cot-standings




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 euro, British pound sterling, Swiss franc, Canadian dollar, Australian dollar, New Zealand dollar and the Mexican peso while there were weekly declines for just the Japanese yen. See charts & data below.




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

EuroFX:

eurfx

Last Six Weeks data for EuroFX futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/21/2014 255300 79321 83093 -3772 -13018
01/28/2014 260799 86963 72616 14347 18119
02/04/2014 274146 67614 81224 -13610 -27957
02/11/2014 281037 75048 81977 -6929 6681
02/18/2014 291360 88634 80035 8599 15528
02/25/2014 296924 93003 79103 13900 5301



British Pound Sterling:

gbp

Last Six Weeks data for Pound Sterling futures

Date Open Interest Long Specs Short Specs Large Specs Net Lg Specs Weekly Change
01/21/2014 208112 56573 47853 8720 -2440
01/28/2014 218738 63359 41187 22172 13452
02/04/2014 202690 52098 41147 10951 -11221
02/11/2014 204982 53199 42527 10672 -279
02/18/2014 241471 76271 53948 22323 11651
02/25/2014 257037 74558 45756 28802 6479



Japanese Yen:

jpy

Last Six Weeks data for Yen Futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/21/2014 217548 13128 128089 -114961 3105
01/28/2014 203014 15977 102169 -86192 28769
02/04/2014 199361 15896 92725 -76829 9363
02/11/2014 196435 13686 92472 -78786 -1957
02/18/2014 200057 16736 96520 -79784 -998
02/25/2014 203743 14727 99817 -85090 -5306



Swiss Franc:

chf

Last Six Weeks data for Franc futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/21/2014 42110 11645 13566 -1921 1020
01/28/2014 40869 11389 11830 -441 1480
02/04/2014 41918 13236 11016 2220 2661
02/11/2014 42433 12166 11611 555 -1665
02/18/2014 51003 14188 17016 -2828 -3383
02/25/2014 55157 19396 19038 358 3186



Canadian Dollar:

cad

Last Six Weeks data for Canadian dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/21/2014 169456 29423 99750 -70327 -2982
01/28/2014 157214 25976 88765 -62789 7538
02/04/2014 160625 29439 89739 -60300 2489
02/11/2014 157495 27745 86673 -58928 1372
02/18/2014 154862 27756 92756 -65000 -6072
02/25/2014 141519 24865 83456 -58591 6409



Australian Dollar:

aud

Last Six Weeks data for Australian dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/21/2014 137503 15645 80299 -64654 -12666
01/28/2014 136426 13997 79720 -65723 -1069
02/04/2014 125394 11696 67219 -55523 10200
02/11/2014 110523 10202 57605 -47403 8120
02/18/2014 103049 9439 53837 -44398 3005
02/25/2014 98643 10299 49290 -38991 5407



New Zealand Dollar:

nzd

Last Six Weeks data for New Zealand dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/21/2014 22817 17330 8774 8556 -1058
01/28/2014 21796 16606 6921 9685 1129
02/04/2014 20098 14588 6556 8032 -1653
02/11/2014 19085 13176 5535 7641 -391
02/18/2014 21516 15331 6425 8906 1265
02/25/2014 22142 16529 5547 10982 2076



Mexican Peso:

mxn

Last Six Weeks data for Mexican Peso futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/21/2014 121142 26739 30367 -3628 -17345
01/28/2014 133035 20730 56046 -35316 -31688
02/04/2014 131832 13694 48209 -34515 801
02/11/2014 127225 9682 43622 -33940 575
02/18/2014 131097 8094 31406 -23312 10628
02/25/2014 128542 9971 31540 -21569 1743



*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.comForex Apps & News

US 10-Year Treasury Note Speculators reduce bearish positions to lowest level since July 2013

By CountingPips.com

Weekly CFTC Net Speculator Report




10year

Large Speculators bearish positions decline for 2nd straight week

10 Year Treasuries: Large futures market traders cut back on their overall bearish positions in the 10-year treasury note futures last week to the lowest level since July 2013, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of the 10-year treasury notes, traded by large speculators and hedge funds, totaled a net position of -12,967 contracts in the data reported for February 25th. This was a change of +44,177 contracts from the previous week’s total of -57,144 net contracts that was registered on February 18th.

This latest data brings bearish contracts of the 10-year note to the lowest level since July 30th when contracts were on the bullish side at +11,903 positions.

Over the same reporting time-frame, from Tuesday February 18th to Tuesday February 25th, the yield on the 10-Year treasury note edged lower from 2.71 to a yield of 2.70, according to data from the United States Treasury Department.


Last 6 Weeks of Large Trader Non-Commercial Positions

Date Open Interest Long Specs Short Specs Net Large Specs Weekly Change 10 Year Yield
01/21/2014 2232869 315980 374371 -58391 -7601 2.85
01/28/2014 2334109 298913 416672 -117759 -59368 2.77
02/04/2014 2382511 308867 444168 -135301 -17542 2.64
02/11/2014 2410966 322845 465378 -142533 -7232 2.75
02/18/2014 2430028 380817 437961 -57144 85389 2.71
02/25/2014 2513746 333437 346404 -12967 44177 2.7



*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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).




Article by CountingPips.comForex Trading Apps

 

 

 

VIX Futures Market COT Speculators slightly added to bearish positions

By CountingPips.com

Weekly CFTC Net Speculator Report




vix


VIX Futures Contracts: Large traders and speculators slightly added to their bearish bets in the VIX futures market last week, according to the latest data from the Commodity Futures Trading Commission (CFTC) released on Friday.

The VIX non-commercial futures contracts, reflecting large speculator and hedge fund positions, totaled a net position of -16,038 contracts in the data reported for February 25th. This was a change of just -1,115 contracts from the previous week’s total of -14,923 net contracts that was registered on February 18th.

Net non-commercials, on February 18th, reached their lowest level since July 2nd when contracts equaled -14,760 net positions.

The VIX index, meanwhile, declined for the third straight week from 13.87 on Tuesday February 18th to a 13.67 reading on Tuesday February 25th, according to the Chicago Board Options Exchange (CBOE) Volatility Index.



Last 6 Weeks of Large Trader Positions

Date Open Interest Long Specs Short Specs Net Non-Commercials Weekly Change VIX Score
01/21/2014 416956 128548 192854 -64306 7190 12.87
01/28/2014 376043 108155 173659 -65504 -1198 15.8
02/04/2014 384117 101502 152732 -51230 14274 19.11
02/11/2014 378851 85350 126458 -41108 10122 14.51
02/18/2014 409111 107597 122520 -14923 26185 13.87
02/25/2014 367042 108739 124777 -16038 -1115 13.67



*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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).




Article by CountingPips.comForex Apps & Analysis

 

 

 

Forex Recap & Weekly Outlook: GDP Reports, Interest Rate Decisions, Non-Farm Employment Report

By CountingPips.com

Last Week’s Recap & Notable Data Points:

Last week, the market continued to see the US dollar decline against most of the other major currencies. A softer US GDP number for the 4th quarter (+2.4%), lower consumer confidence and lower durable goods orders as well as a better than expected CPI number from the Eurozone helped to sink the dollar (particularly against the European currencies) later in the week. Overall, the dollar fell against the euro, British pound sterling, Japanese yen, Swiss franc, Canadian dollar and the New Zealand dollar while gaining some ground against the Australian dollar.

Here are the major economic results from last week:

  • Eurozone CPI rose 0.8% year-over-year in January / core CPI rose 1.0%
  • US consumer confidence fell to 78.1 in February from 79.4 in January
  • United Kingdom GDP rose 2.7% year-over-year in the fourth quarter
  • Switzerland GDP rose 1.7% year-over-year in the fourth quarter
  • German employment fell by 14,000 workers in February
  • US durable goods orders fell 1.0% in January
  • Japan national CPI rose 1.4% year-over-year in January
  • Canada GDP rose 2.9% year-over-year in fourth quarter
  • US GDP revised to 2.4% annualized fourth quarter from 3.2% previous
  • Chinese manufacturing PMI fell to 50.2 from 50.5 in February

 

This Week’s Outlook: GDP Reports, Interest Rate Decisions, US Non-Farm Payroll Report

This week we have a very busy schedule of economic releases with GDP reports, the central bank interest rate decisions and the US job report all on the docket. Early in the week, we will see the US ISM manufacturing report as well as the Chinese non-manufacturing PMI report, both due out on Monday.

Tuesday, the economic calendar is highlighted by the Reserve Bank of Australia interest rate decision with expectations of the interest rate remaining unchanged at 2.5%. The bank’s commentary will be closely watched for any comments on the Aussie’s current trading level. Wednesday we will see the Australian GDP report, the Eurozone GDP report, the Bank of Canada’s interest rate decision as well as the US ISM non-manufacturing data point. Thursday will see two interest rate decisions, one from the Bank of England and the other from the European central bank.

Friday will be the employment reports out of the US and from Canada. The US report will be especially important for direction of the US economy (following two disappointing jobs report) with market expectations of 150,000 workers to be added for February.

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

Monday, March 3
United States — ISM manufacturing

Tuesday, March 4
Australia — interest rate decision

Wednesday, March 5
Australia — GDP report
Eurozone — GDP report
Canada — interest rate decision
United States — ISM nonmanufacturing report

Thursday, March 6
United Kingdom — interest rate decision
Eurozone — interest rate decision

Friday, March 7
United States — non-farm payrolls jobs report
United States — unemployment rate
Canada — unemployment rate/employment change

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

 

 

 

 

Large Gold Speculators added to bullish positions for a third week in a row

By CountingPips.com – Weekly CFTC Net Speculator Report




Gold Comex Futures Contracts: Large traders and speculators added to their bullish bets in the gold futures market last week to the highest level since April 2013, according to the latest data from the Commodity Futures Trading Commission (CFTC) released on Friday.

The gold non-commercial Comex futures contracts totaled a net position of 109,464 contracts in the data reported for February 25th. This was a change of +24,833 contracts from the previous week’s total of 84,631 net contracts that was registered on February 18th.

Net non-commercials are at their highest level since April 16th 2013 when net contracts equaled 128,882 as bullish net positions have increased for three straight weeks.

Gold prices rose through February 25th to $1,342.70 from a price of $1,324.40 on Tuesday February 18th, according to the Comex Gold Price.



Last 6 Weeks of Large Traders: Non-Commercial Net Positions

Date Open Interest Long Specs Short Specs Net Specs Weekly Change Gold Spot Price
01/21/2014 410959 146018 99435 46583 2570 1242
01/28/2014 382739 150158 83817 66341 19758 1250.5
02/04/2014 368279 147754 82815 64939 -1402 1251.2
02/11/2014 376973 156786 85585 71201 6262 1289.8
02/18/2014 390535 164478 79847 84631 13430 1324.4
02/25/2014 387503 169870 60406 109464 24833 1342.7



*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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).




Article by CountingPips.comForex Apps & Analysis