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U.S. Unemployment Rate/Non-Farm Employment Change

Take a look at the current currency pair rates below:

GBP/JPY: Lowest 133.95  Highest 134.24  Current 134.02-07

EUR/JPY: Lowest 114.86  Highest 115.19  Current 114.94-99

USD/JPY: Lowest 82.28   Highest 82.47   Current 82.35-38

GBP/USD: Lowest 1.6265  Highest 1.6293  Current 1.6276-79

EUR/USD: Lowest 1.3949  Highest 1.3974  Current 1.3957-60

USD/CHF: Lowest 0.9310  Highest 0.9331  Current 0.9320-23

AUD/USD: Lowest 1.0112  Highest 1.0165  Current 1.0138-41

AUD/JPY: Lowest 83.22   Highest 83.72   Current 83.45-50

NZD/JPY: Lowest 60.65   Highest 61.14   Current 60.71-76

 

Hey everyone don't forget about the U.S. Unemployment Rate and Non-Farm Employment Change announcements tonight Friday Mar. 4th at 10:30 PM (UTC+9). The results of these announcements along with the protests in the Middle East may have a significant impact on the USD.

Great Britain's Services PMI

What's up everyone!!! On March 3rd at 6:30 PM (UTC+9)  Markit Group Limited out of Great Britain will again release the result of the Services PMI. This time around I have shown the results of the previous 3 months dating back to December 3, 2010. For those who are unaware, an index rating over 50.0 shows expansion within the services industry. On the other hand, an index rating under 50.0 shows contraction.

The following charts of the GBP/USD & the GBP/JPY show how each Services PMI announcement from last month, January, and December of last year has affected the GBP according to its respective index rating release. Services PMI always moves the GBP 15 minutes before the actual announcement is released.

February 3, 2011 GBP/JPY 15 min. chart; 67-point rise. Actual rating was 54.5 from a forecast of 51.2

 

February 3, 2011 GBP/USD 15 min. chart; 72-point rise from same actual rating

 

January 6, 2011 GBP/JPY 15 min. chart; 56-point drop. Actual rating was 49.7 from a forecast of 52.9

 

January 6, 2011 GBP/USD 15 min. chart; 94-point drop from same actual rating

 

December 3, 2010 GBP/JPY 15 min. chart; 29-point drop. Actual rating was 53.0 from a forecast of 53.2 but remained above 50.0

 

December 3, 2010 GBP/USD 15 min. chart; 24-point drop with same actual rating but remaining above 50.0

 

The forecast for the March 3rd Services PMI is 53.8 from the previous 54.5 in February. For those selling off the GBP, any rating below 50.0 is what you're hoping for  : )

Reserve Bank of New Zealand

Perhaps PM John Key is putting pressure on the RBNZ!! It may soon be about that time to sell off the NZD then buy it back again at the bottom........perhaps around the 60.00 mark for the NZD/JPY & the 0.7000 mark for the NZD/USD.

http://www.bloomberg.com/news/2011-03-02/key-says-would-welcome-new-zealand-interest-rate-cut.html

Great Britain's Construction PMI

Hello all!!! In just a couple of hours Markit Group Limited out of Great Britain will release the result of the Construction PMI. The previous announcement on February 2, 2011 showed a transition from industry contraction to expansion while the forecast called for no changes. This allowed the GBP to strenghten briefly. The cahrts below illustrates the effect of the previous Construction PMI announcement.

GBP/JPY 30 min. chart; 64-point rise within 2 hrs. of announcement

 

GBP/USD 30 min. chart; 61-point rise within 1 hr. of announcement

 

Tonight's announcement at 6:30 PM (UTC+9) expects the industry to remain in an expansion state. Any result below 50.0 may break the GBP's general upward trend for this evening.

Here are your current currency pair rates:

GBP/JPY: Lowest 132.79  Highest 133.38  Current 133.05-10

EUR/JPY: Lowest 112.51  Highest 113.00  Current 112.75-80

USD/JPY: Lowest 81.81   Highest 81.98   Current 81.93-96

GBP/USD: Lowest 1.6213  Highest 1.6278  Current 1.6239-42

EUR/USD: Lowest 1.3742  Highest 1.3789  Current 1.3761-64

USD/CHF: Lowest 0.9269  Highest 0.9307  Current 0.9280-83

AUD/USD: Lowest 1.0084  Highest 1.0153  Current 1.0107-10

AUD/JPY: Lowest 82.60   Highest 83.14   Current 82.81-86

NZD/JPY: Lowest 60.44   Highest 61.33   Current 60.71-76

 

U.S. ADP Non-Farm Employment Change

Take a look at the current currency pair rates below:

GBP/JPY: Lowest 132.93  Highest 133.38  Current 133.94-99

EUR/JPY: Lowest 112.65  Highest 113.00  Current 112.73-78

USD/JPY: Lowest 81.81   Highest 81.98   Current 81.90-93

GBP/USD: Lowest 1.6229  Highest 1.6278  Current 1.6231-34

EUR/USD: Lowest 1.3762  Highest 1.3789  Current 1.3765-68

USD/CHF: Lowest 0.9275  Highest 0.9307  Current 0.9284-87

AUD/USD: Lowest 1.0096  Highest 1.0153  Current 1.0096-99

AUD/JPY: Lowest 82.66   Highest 83.14   Current 82.67-72

 

Hello everyone. Hope you guys and gals are doing ok so far this week. Today is Wednesday so be patient..... the weekend will be here in no time.  :  )

One of today's major announcements will come from the U.S. at 10:15 PM (UTC+9) regarding the ADP Non-Farm Employment Change; which measures the number of persons employed outside of the farming industry and government jobs. How this affected the USD in the previous announcement on February 2, 2011 is shown below in the charts. By the way, 39,000 more people were employed during the previous month.

GBP/USD 15 min. chart; 33-point drop

 

EUR/USD 15 min. chart; 39-point drop

 

Unlike the other major announcements from the U.S. , the result from this announcement took some time before it affected the market. So far today we are seeing a downward trend (both USD and JPY strengthening). If this announcement comes out positive later on you may continue to see a downward trend on the GBP/USD & the EUR/USD.

USD/CHF Weekly Range

USD/CHF WEEKLY FORECAST Feb. 28 - Mar. 4, 2011

 

Support levels located at 0.9172, 0.9061, and 0.8895

Pivot Point is 0.9338

Resistance levels located at 0.9449, 0.9615, and 0.9726

Avoid executing if the price is close to its Pivot Point.

If the price is close to a support level, it is advisable to enter a buy position. The higher support level you decide to buy, the higher amount of profit can be made.

If the price is close to a resistance level, it is advisable to enter a sell position. The higher resistance level you decide to sell, the higher amount of profit can be made.

The use of limits is always recommended.

The range for this week is shown in the USD/CHF weekly chart above. This weeks major announcements from the U.S. include Pending Home Sales on Tuesday Mar. 1st, the ISM Manufacturing PMI & ADP Non-Farm Employment Change on Wednesday Mar. 2nd, and the Unemployment Rate this week Friday Mar. 4th.
 
Switzerland's Federal Statistics Office will release its GDP result this Tuesday Mar. 1 while Retail Sales will be announced on Thursday Mar. 3rd.

Currently the USD/CHF rate is floating between the Pivot Point and the Support 1 area at one of its lowest rates ever. It is very unlikely that the rate will drop down to the Support 3 at 0.8895 or the Support 2 at 0.9061 (not visible in the above chart).
 

AUD Cash Rate Announcement

Take a look at the current currency pair rates below:

GBP/JPY: Lowest 132.88  Highest 133.54  Current 133.20-25

EUR/JPY: Lowest 112.80  Highest 113.31  Current 113.07-12

USD/JPY: Lowest 81.72   Highest 81.97   Current 81.91-94

GBP/USD: Lowest 1.6248  Highest 1.6301  Current 1.6261-64

EUR/USD: Lowest 1.3796  Highest 1.3832  Current 1.3802-05

USD/CHF: Lowest 0.9282  Highest 0.9302  Current 0.9298-0.9301

AUD/USD: Lowest 1.0173  Highest 1.0203  Current 1.0182-85

AUD/JPY: Lowest 83.20   Highest 83.59   Current 83.42-47

 

Good morning (evening) everyone. Today may be a good day for selling the AUD/USD since it is overvalued at around one of its highest rates ever. What may influence this announcement in the next couple of hours is the Cash Rate (Interest Rate) that will be announced at 12:30 PM (UTC+9) by the Reserve Bank of Australia. Below is today's 1 hr. chart showing how the rate has reached 1.0200 and is currently floating between 1.0185 & 1.0200 and may continue to do so until the announcement result is out.

 

The Cash rate is expected to remain the same as last month's announcement at 4.75%. However, if it comes out the same again this time, there is a possibility for a retracement downwards. If the rate is lowered from 4.75%, expect the rate to possibly fall significantly. Any result above 4.75% may cause the AUD/USD to reach record highs.

USD/JPY Weekly Range

USD/JPY WEEKLY FORECAST Feb. 28 - Mar. 4, 2011

 



Support levels located at 80.98, 80.34, and 79.08

Pivot Point is 82.24

Resistance levels located at 82.88, 84.14, and 84.78

Avoid executing if the price is close to its Pivot Point.

If the price is close to a support level, it is advisable to enter a buy position. The higher support level you decide to buy, the higher amount of profit can be made.

If the price is close to a resistance level, it is advisable to enter a sell position. The higher resistance level you decide to sell, the higher amount of profit can be made.

The use of limits is always recommended.

The range for this week is shown in the USD/JPY weekly chart above. This weeks major announcements from the U.S. include Pending Home Sales on Tuesday Mar. 1st, the ISM Manufacturing PMI & ADP Non-Farm Employment Change on Wednesday Mar. 2nd, and the Unemployment Rate this week Friday Mar. 4th.
 
Japan's Statistics Bureau will release its Household Spending & Unemployment Rate results this Tuesday Mar. 1 while Capital Spending will be announced by the Ministry of Finance on Thursday Mar. 3rd.

Currently the USD/JPY rate is floating between the Pivot Point and the Support 1 area. It is very unlikely that the rate will drop down to the Support 3 at 79.08 or the Support 2 at 80.34. 

 

Here are today's current prices:

GBP/JPY: Lowest 131.24  Highest 131.63  Current 131.53-58

EUR/JPY: Lowest 111.94  Highest 112.44  Current 112.36-41

USD/JPY: Lowest 81.61   Highest 81.78   Current 81.62-65

GBP/USD: Lowest 1.6070  Highest 1.6118  Current 1.6114-17

EUR/USD: Lowest 1.3710  Highest 1.3769  Current 1.3764-67

USD/CHF: Lowest 0.9262  Highest 0.9291  Current 0.9262-65

AUD/USD: Lowest 1.0119  Highest 1.0185  Current 1.0177-80

AUD/JPY: Lowest 82.61   Highest 83.16   Current 83.07-12

 

Great Britain & U.S. GDP

Take a look at the current currency pair rates below:

GBP/JPY: Lowest 131.90  Highest 132.50  Current 132.32-37

EUR/JPY: Lowest 112.85  Highest 113.50  Current 113.26-31

USD/JPY: Lowest 81.75   Highest 82.08   Current 81.91-94

GBP/USD: Lowest 1.6119  Highest 1.6158  Current 1.6153-56

EUR/USD: Lowest 1.3794  Highest 1.3840  Current 1.3826-29

USD/CHF: Lowest 0.9227  Highest 0.9272  Current 0.9261-64

AUD/USD: Lowest 1.0085  Highest 1.0138  Current 1.0131-34

AUD/JPY: Lowest 82.51   Highest 83.06   Current 83.00-05

 

Welcome back gang!!! (lol) It's Friday...time to enjoy. Those in the Tokyo area are experiencing a taste of spring today with that warm temperature outside.

Tonight there are quarterly announcements from Great Britain at 6:30 PM & the U.S. at 10:30 PM (both times UTC+9). Great Britain's National Statistics will announce the results of its Revised GDP. It is expected to remain unchanged from the previous quarter at -0.5%. Since it is expected to stay negative, any result above -0.5% may significantly strengthen the GBP. Below are 2 charts that illustrate the results of last quarter's announcement on November 24, 2010.

GBP/JPY 30 min. chart; 32-point fluctuation (within 1st 30 min. only)

 

GBP/USD 30 min. chart; 61-point drop (1st 1.5 hrs.)

 
Although the actual result was the same as the forecast (0.8%), the GBP weakened because expectations were higher.

As for the U.S. Bureau of Economic Analysis, they are expected to announce a Preliminary GDP that will increase 0.1% from last quarter. The November 23, 2010 announcement showed an increase of 0.3% allowing the USD to strengthen for the most part except against the JPY at that time.

GBP/USD 30 min. chart; 29-point drop (1st 30 min. )/179-point drop (6 hrs. after announcement)

 

EUR/USD 30 min. chart; 44-point drop (1st 30 min.)/144-point drop (3 hrs. after announcement) 

 

USD/JPY 30 min. chart; 66-point drop {different pattern from GBP/USD & EUR/USD}

 

Also, keep an eye out for what the USD announcements are & compare them with the latest updates on New Zealand events.

*The USD/CHF reached its lowest level in its history and is currently working its way back upwards.

 

 

 

U.S. Core Durable Goods Orders

Take a look at the current currency pair rates below:

GBP/JPY: Lowest 133.13  Highest 133.89  Current 133.32-37

EUR/JPY: Lowest 113.04  Highest 113.57  Current 113.12-17

USD/JPY: Lowest 82.04   Highest 82.59   Current 82.12-15

GBP/USD: Lowest 1.6196  Highest 1.6256  Current 1.6234-37

EUR/USD: Lowest 1.3740  Highest 1.3787  Current 1.3774-77

USD/CHF: Lowest 0.9274  Highest 0.9341  Current 0.9286-89

AUD/USD: Lowest 1.0011  Highest 1.0084  Current 1.0065-68

AUD/JPY: Lowest 83.53   Highest 82.88   Current 82.61-66

 

Hello again everyone. How is everybody? So far this week there hasn't been too many major announcements. However, tonight February 24th at 10:30 PM (UTC+9),  U.S. Census Bureau will announce Core Durable Goods Orders. It is expected to decrease from 0.8% to 0.4%. Last month's Core Durable Goods Orders announcement on January 27, 2011 was a negative result. The 3 charts below illustrate how the announcement affected the market.

USD/JPY 30 min. chart; 24-point drop

 

EUR/USD 30 min. chart; 45-point rise

 

GBP/USD 30 min. chart; 50-point rise

 

The weekly Unemployment Claims from the U.S. Department of Labor will also be announced tonight at the same time as the Core Durable Goods Orders.

Also, with all the unfortunate events taking place in Christchurch, New Zealand, it has allowed the New Zealand Dollar to become weaker against the major currencies. The NZD/JPY is currently at its lowest rate since October 2010. The NZD is showing signs of gaining against the USD since the USD is currently weakening and therefore the NZD/JPY may possibly follow soon.