Submitted by BBFX Blogger on Wed, 05/16/2012 - 08:13
The SPX 500 sits about 8 points higher than Tuesday’s close (as of 8:45am ET). As we head into the US session we have seen the US Dollar pullback/consolidate as it heads into a multi-point resistance area of 10,137 area.
Submitted by BBFX Blogger on Tue, 05/15/2012 - 09:14
The SPX 500 is off its overnight lows and sits about flat from Mondays close on the S&P 500 (as of 9:45am ET). The month of May has turned out to be bearish for equities so be careful as rallies could be sold off with the on-going Greek debt crisis.
The USD is now approaching 10,100 area where it should see some major resistance. The EUR/USD has broken through 1.28 this morning with the less than expect US data.
Submitted by BBFX Blogger on Thu, 05/10/2012 - 08:00
The SPX 500 sits about 8 points higher than Wednesday’s close on the S&P 500 (as of 8:38am ET). The US Unemployment Claims came in slightly better than expectations (367k actual vs. 371k estimate).
Equities look to open higher, which could cause the USD to consolidate while Euro fears temporarily subside. At 9:30am ET, Ben Bernanke will be speaking and this could cause some major volatility.
Submitted by BBFX Blogger on Wed, 05/09/2012 - 07:53
The SPX 500 sits about 10 points lower than Tuesday’s close on the S&P 500 (as of 8:23am ET). The EUR/USD has fallen to 1.2940 as fear is back on the table.
As we head into the US open be careful if there is a pullback before the next leg down. This afternoon there is a US 10 year bond auction at 1:00pm ET. If the negative sentiment continues we should see assets move into the USD and Yen as investors unwind riskier currencies like NZD and AUD.
Submitted by BBFX Blogger on Tue, 05/08/2012 - 07:48
The SPX 500 sits about 1 point lower than Mondays close on the S&P 500 (as of 8:05am ET). As we head into the US open we are off the morning lows, however Austerity controversy will be today’s big factor that could drive the EUR/USD lower.
The EUR/USD has briefly broken 1.30 (as of 8:35am ET). Yesterdays low was 1.2953, which will come in for today’s support level. If the EUR/USD starts to gain, we could see resistance come in at the 1.3063 area. Don’t get over leveraged into any positions as spikes could be just from news commentary.
Submitted by BBFX Blogger on Mon, 05/07/2012 - 07:45
The SPX 500 sits about 8 points lower than Friday’s close on the S&P 500 (as of 8:20am). Over the weekend Francois Hollande has won the election of French President over Nicolas Sarkozy. The announcement has lead to a selloff and the EUR/USD sits at 1.3030.
As uncertainty and fear rises in Europe we will see if the USD will continue to rally. Be sure to watch the EUR/USD, we could see additional declines accelerate if it can hold below the 1.30 area. However, if Euro fears are exaggerated the EUR/USD could remain locked in its consolidation.
Submitted by BBFX Blogger on Fri, 05/04/2012 - 07:10
The SPX 500 sits about flat from yesterday’s close on the S&P 500 (as of 7:45am). Today’s big event will be the release of US NFP’s at 8:30am.
The forecast is for 160k, but we have seen a lot of predictions lowered to the 130k range after Wednesday’s disappointing ADP figures.
Submitted by BBFX Blogger on Wed, 05/02/2012 - 08:19
The SPX 500 is down about 7 points from the S&P 500 (as of 8:45am). Earlier this morning we had the release of the ADP Non-Farm Employment change, which came in less than expected. (119k Actual VS 178k expected).
S&P has upgraded the credit rating for Greece to triple-C from selective default. This is due to the fact they finally completed the bond swap. The EUR/USD is now sitting at 1.3130 area as we head into the NY open.
Submitted by BBFX Blogger on Tue, 05/01/2012 - 07:37
The SPX 500 sits about 2 points higher than Monday's close on the S&P 500 (as of 8:00am). Overnight we had the RBA (Reserve Bank of Australia) cut rates by 50 basis points, expectations were for only 25 basis points.
Euro zone has a holiday and there isn't too much scheduled for today other than US ISM Manufacturing at 10:00am.
Meanwhile the NZD/USD remains stuck in a range from the 23.6 Fib retracement (0.82318) down to the 0.81300 area. Be sure to watch this pair if it tries to make a rebound with equities.
Submitted by BBFX Blogger on Fri, 04/27/2012 - 07:59
The SPX 500 sits about 2 points higher than Thursday’s close on the S&P (as of 8:50am). We had the release of US GDP q/q, which came in below expectations (2.2% Actual vs. 2.5% Expected). There wasn’t an initial negative reaction because the growth is still greater than we have seen in the past.