The Advisor Weblog

Hourly perspective for US session
US data post Bernanke
Bernanke on the wires
Best pair to trade now: GBP/USD
Majors’ sentiment for today
Starting the day

Hourly perspective for US session

Posted: 15 Oct 2010 06:28 AM PDT

Here is the hourly perspective for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-10-15.v02.html

Keep an eye on gold, as if profit taking starts there, a dollar rally could be seen following it.

US data post Bernanke

Posted: 15 Oct 2010 05:33 AM PDT

Retail sales and inflation readings in the US come out mixed, with inflation down,and Retail Sales around expectations; Empire Manufacturing index printed an impresive 15.7. Stocks jumped to the upside and greenback again to the downside. Early to say, trend seems ready to continue against dollar.

Bernanke on the wires

Posted: 15 Oct 2010 05:21 AM PDT

Supporting furhter QE as long as unemployment remains high. Dollar extends the fall across the board.

Best pair to trade now: GBP/USD

Posted: 15 Oct 2010 04:18 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-10-15.html

Majors’ sentiment for today

Posted: 15 Oct 2010 03:30 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Bullish

Usd/Chf: Slightly Bearish

Usd/Jpy: Bearish

Eur/Gbp: Bearish

Eur/Jpy: Neutral

Gbp/Jpy: Slightly Bullish

Starting the day

Posted: 15 Oct 2010 03:28 AM PDT

Hi everyone, and welcome back! Friday started with some dollar gains early Asia, as Nikkei falls thus dollar was unable to follow troughand quickly regained the downside, with European opening. Local share markets are slightly up, thus markets are quiet ahead of US data to be release later today, couple of risk factors that could only exacerbate trend; I do believe that fundamental data, can’t change trend. Not at least in the short term: we need several months of negative/positive numbers, to see them finally affecting a trend. So if the data is dollar positive, dollar could spike temporarily, yet sooner or later resume its bearish trend. On contrary a very negative dollar data, will then exacerbate current one.

Euro reached again the 1.4100 area, thus give up some ground on worse than expected EU trade balance, while Pound is firm near weekly highs around 1.6060. USD/JPY bearish bias remains unchanged, as well as Swissy and commodity currencies strength.

What we could see today, if happens, are dollar gains on profit taking; Friday’s usully generate such movements as investors prefer to book profits rather than risk any kind of strange weekend economic or political outcome. Anyway! Will start with technicals now.

Here is the link for today’s calendar:

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

Have a great day!