The Advisor Weblog

Majors’ sentiment for today

Posted: 16 Sep 2010 05:14 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Neutral

Usd/Chf: Bullish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bullish

Eur/Jpy: Slightly Bullish

Gbp/Jpy: Slightly Bullish

Starting the day

Posted: 16 Sep 2010 05:08 AM PDT

Hi everyone and welcome back! Besides a fresh monthly high for Euro, favored by positive Spanish bond auction results, and a better than expected trade balance in the euro zone, market is mostly consolidating in past days range.

Switzerland has just left rates unchanged, after market speculated all week long with a rike hike: USD/CHF jumped to the upside leaving a small gap around 1.0050; could fill the gap and run higher towards the 1.0160 area today, as general tone for the cross remains bullisk.

EUR/USD is also bullish testing 1.3100, aiming to extend gains above the level, with ummediate resistance around 1.3160 a strong Fibonacci level. Pound on contrary, and despite yesterday’s gains, has been hit again by worse than expected data, this time a very negative Retail Sales reading and remains limited to the upside.

Anyway, market is mostly waiting for US data startin in about 20 minutes to make decisions; here is the link for today’s calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!