U.S. dollar jumps on Aussie after RBA rate cut

HONG KONG (MarketWatch) — The U.S. dollar weakened a bit against major currencies Tuesday after an improvement Chinese manufacturing data in April, although it rallied against the Australian currency after an aggressive interest rate cut by the central bank there. The ICE dollar index DXY -0.07% , which measures the greenback’s performance against a basket of six major global currencies, slipped to 78.728 from 78.779...

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EUR/JPY - Elliot Wave Count Suggests It May Be Time To Take The Money & Run

EUR/JPY - Elliot Wave Count Suggests It May Be Time To Take The Money & Run Last week I felt 'it could be wise to further protect our position by lowering our stop from 109.90(Update 1) to around 108.20 (locking in roughly 200 pips) , with the Fed and BoJ interest rate decisions due out later in the week'. Sure enough, the Fed decision saw little changed from their March statement and the BoJ underwhelmed yet again (surprise, surprise)....

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Nikkei drops 1.8 percent

TOKYO (Reuters) - Japan's Nikkei share average shed 1.8 percent to hit a 2-1/2 month closing low on Tuesday, hurt by uncertainty on the euro zone and concerns over U.S. economic growth, while a strong yen weighed on exporters.                                                       ...

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Natural Gas: Beaten Down, but Looking Up

Natural gas has been pushed further and further down for the past few years. According to Business Insider, Professor Mark Perry of the Carpe Diem blog noted that if adjusted for inflation, natural gas prices have reached a multidecade low. Reasons for the continuous price decrease include a warmer winter (heating costs were reduced) and increased supplies from easy drilling. Due...

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METALS-Copper hovers near $8,400, China data supports

Mon Apr 30, 2012 11:34pm EDT * China PMI hits 13-month high in April * Thin trading with many Asian markets closed * Coming Up: U.S. ISM Manufacturing PMI; 1400 GMT (Adds China data, comments, updates prices) By Manolo Serapio Jr SINGAPORE, May 1 (Reuters) - Copper steadied near $8,400 a tonne on Tuesday as brisk manufacturing data in top consumer China helped counter concerns...

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UPDATE 1-Brent-WTI crude spread may widen sharply end-2012 - JPMorgan

Tue May 1, 2012 12:31am EDT May 1 (Reuters) - The spread between Brent and U.S. crude futures could widen sharply at the end of the year, depressing U.S. oil prices, as refinery maintenance reduces crude demand, J.P. Morgan Chase said late on Monday. "We expect the spread to be very volatile, pushing above $15 a barrel at the end of the year as the three-month-long maintenance at...

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Australian Dollar Drops on Unexpectedly Large RBA Rate Cut

The Australian Dollar fell as traders were forced adjust their positions after the RBA cut its key interest rate in the face of a global slowdown of demand for Aussie goods.  THE TAKEAWAY: Reserve Bank of Australia Unexpectedly Cut Cash Rate to 3.75%, Policy Statement Dovish > Fears of Global Growth Slowdown Return, Leading Traders to Adjust Portfolios > AUDUSD...

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Gold Short Term Bullish Base?

Prepared by Jamie Saettele, CMT Last week’s hold above the 4/4 low suggests that gold has been forming a bullish base since mid-March. Exceeding the April high would put bulls in control towards the trendline above 1700 (that line extends off of the September 2011 and February 2012 highs...

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EURUSD Inches Towards Trendline

For most, trading in the middle of this range is not ideal. Price is currently pressing againstresistance from former trendline support and congestion from late March / early April. Trendline resistance is just below 13300 as well. Hopefully, early May can provide a pivot to trade to from. Recent lows at 13155 and 13100 are near term supports. I don’t want to strongly suggest a direction when the market is...

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FOREX-Yen keeps climbing as data saps risk appetite

Mon Apr 30, 2012 7:10pm EDT * Disappointing data weighs on risk appetite * Markets now eyeing China PMI * Aussie braced for 25 bps RBA rate cut, 50 bps a danger * Many Asian centers shut for holiday By Ian Chua SYDNEY, May 1 (Reuters) - The yen held at two-month highs against the dollar on Tuesday, having rallied across the board overnight as investors snapped up the safe-haven...

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Nikkei opens down as yen pressures exporters

Mon Apr 30, 2012 8:09pm EDT TOKYO, May 1 (Reuters) - Japan's benchmark Nikkei average opened down 0.5 percent at 9,471.66 on Tuesday, with exporters pressured by a stronger yen after U.S. markets weakened and Spain said it had slipped into recession. The broader Topix shed 0.3 percent to 801.7...

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Australian Dollar Sold as Chinese PMI Data Disappoints

The Australian Dollar fell after poor manufacturing-sector Chinese PMI data, compounding expectations of an RBA cash rate cut later this morning.  THE TAKEAWAY: Chinese Manufacturing PMI Rose to 53.3 in April > Fears of Global Growth Slowdown Renewed, Leading Traders to Adjust Portfolios >AUDUSD Fe...

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US Dollar Holds Key Trend Line Support as S&P 500 Pulls Back

The US Dollar managed to hold above trend-defining rising trend line support set from August 2011 as the S&P 500 pulled back to digest recent gains.  THE TAKEAWAY: The US Dollar managed to hold above trend-defining rising trend line support set from August 2011 as the S&P 500 pulled back to digest recent gains. S&P 500 – Unchanged from yesterday: “Prices took out resistance at 1399.10, the 61.8%...

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May Day- A Day Dedicated To Workers

Labour Day also known as a day of workers. Labour Day is dedicated to workers and employers for their big contribution in economic and social areas. By the efforts of Labour Union Movement, an annual holiday is celebrated in all over the world.  On the Labour Day many programs are organized to increase the education and social status of workers or labours. May 1st is the day of ‘May day’ in so many countries. ‘May day’ is called...

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