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Trade Idea Wrap-up: USD/CHF - Buy at 0.9290

As the greenback has rebounded again after holding above indicated support at 0.9315, suggesting further consolidation would be seen, however, reckon resistance at 0.9373-80 would limit upside and risk of another corrective fall to said support at 0.9315 cannot be ruled out but reckon support at 0.9287 would contain weakness,

Trade Idea Wrap-up: GBP/USD - Stand aside

Despite intra-day fall to 1.6162, as the British pound found good support there and has rebounded, suggesting further consolidation would be seen, however, break of 1.6250 is needed to bring another corrective rise to indicated resistance at 1.6279 (38.2% Fibonacci retracement of 1.6644-1.6052) would be seen but reckon 1.6300-10 would

Trade Idea Wrap-up: EUR/USD - Sell at 1.3010

As the single currency has rebounded after intra-day retreat to 1.2922, retaining our view that consolidation would be seen and another corrective rise to resistance at 1.2979-88 would be seen, however, still reckon 1.3000-10 (50% Fibonacci retracement of 1.3160-1.2859) would limit upside and bring another decline. Below 1.2922 would bring

Trade Idea Wrap-up: USD/JPY - Buy at 106.50

Dollar's near term sideways trading below resistance at 107.39 (last week's high) is likely to continue and whilst pullback to 106.90 cannot be ruled out, reckon support at 106.65 would limit downside and previous resistance at 106.47 should hold, bring another rise later, above said resistance would extend recent upmove

FOMC Preview: the Fed's Fear Factor
This Wednesday sees the culmination of the FOMC's latest 2-day meeting. At 1900 BST/ 1400 ET the market will receive the FOMC rate decision, the decision on tapering, the latest statement including the latest "dot plot" which includes FOMC members' forecast for interest rates, and, last but not least, a

US Session: Orders and Options Watch
EUR: The single currency remained confined in narrow range, offers at 1.2960 were filled but sell orders are still seen at 1.2975-85 and 1.3000, more offers are noted at 1.3025 (stops above), 1.3035 and 1.3050-60, selling interest is expected at 1.3085, 1.3100-10 and 1.3035. On the downside, bids remain at

Trade Idea: EUR/GBP - Stand aside

Despite staging the anticipated bounce to 0.8010, as the single currency has retreated again, retaining our view that further consolidation would be seen and weakness to 0.7950-55 cannot be ruled out, however, only a break of 0.7920-25 would suggest entire correction from 0.7874 has ended there, bring test of support

Trade Idea: USD/CAD - Buy at 1.0970

As the pair has retreated after rising marginally to 1.1099 yesterday, retaining our view that minor consolidation would be seen and correction to 1.1000 is likely, however, reckon downside would be limited to 1.0960-70 and bring another rise later, above said resistance would extend recent rise from 1.0621 low to

US Producer Prices Flat in August; Annual Rate Edges Upward
Producer prices were unchanged in August 2014, thereby matching market expectations following a 0.1% increase in July and a 0.4% gain in June. Despite no change on a monthly basis, the annual rate of increase in the headline index edged upward to 1.8% from 1.7% in July. This annual rate

Canadian July Manufacturing Sales Jumped as Auto Sales Surged
Canadian manufacturing sales jumped by 2.5% in July 2014, thereby marking a third consecutive monthly gain following 0.9% (was 0.6%) and 1.8% (was 1.7%) increases in June and May, respectively. Much of the strength reflected an 11.6% surge in motor vehicle sales that was flagged by earlier-released industry data pointing

AUD/USD - Aussie Slips Below 90 After RBA Minutes
The Australian dollar briefly dipped below the 90 level on Tuesday, as AUD/USD dropped to its lowest level since March. Late in the European session, the pair is trading in the mid-0.90 range. On the release front, the RBA minutes stated that interest rates would remain at current levels and

Silver: Fed Will Write the Next Chapter
Since peaking around 21.60 in early July, Silver has sold off consistently for the past two months. By last week, the gray metal had drifted all the way down to test the critical support zone around 18.25-50; this level represents the 4-year low in silver and has provided meaningful support

USD/JPY - Limited Activity as US Inflation Dips
The Japanese yen remains practically unchanged this week, as USD/JPY trades just above the 107 line. On the release front, US inflation numbers remain soft, as PPI came in at 0.0% last month. In Japan, BoJ Governor Haruhiko Kuroda spoke at a press conference in Osaka.

EUR/USD Mid-Day Outlook
The consolidation from 1.2859 temporary low is still in progress and intraday bias remains neutral for the moment. In case of another recovery, upside should be limited by 1.3159 resistance and bring fall resumption. Below 1.2859 will extend the fall from 1.3993 to 1.2755 key support level next.

GBP/USD Mid-Day Outlook
The consolidation from 1.6051 temporary low is still in progress and intraday bias in GBP/USD remains neutral. In case of another recovery, upside should be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6051 should extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.

USD/JPY Mid-Day Outlook
Intraday bias in USD/JPY remains neutral for consolidation below 107.93 temporary top. In case of deeper retreat downside should be contained by 105.70 resistance turned support and bring another rally. Above 107.39 will target 100% projection of 96.56 to 105.43 from 101.08 at 109.95 next.

USD/CHF Mid-Day Outlook
USD/CHF's consolidation from 0.9395 temporary top is still in progress and intraday bias remains neutral. Deeper retreat could be seen but downside should be contained well above 0.9175 support. Larger rally is expected to resume later. Break of 161.8% projection of 0.8702 to 0.9036 from 0.8855 at 0.9395 will target 261.8% projection at 0.9729 next.

Mid-Day Report: Markets Stay in Consolidation Mode in General
Dollar stays in tight range against other major currencies in early US session except that some weakness is seen against Loonie. FOMC will start the two day policy meeting today and markets are eager to see if Fed will change the language in the statement to reflect that rate hike

Trade Idea Update: USD/CHF - Buy at 0.9290

As dollar has slipped again after intra-day rebound to 0.9363, retaining our view that further consolidation would be seen and another corrective fall to previous support at 0.9315 cannot be ruled out, however, reckon support at 0.9287 would limit downside and bring another rise. A break of last week's high

Trade Idea Update: GBP/USD - Stand aside

Cable's intra-day fall after meeting resistance around the upper Kumo, suggesting consolidation with downside bias would be seen and weakness to 1.6150 cannot be ruled out, however, break of 1.6120-25 is needed to signal rebound from last week's low at 1.6052 has ended, bring resumption of decline for retest of

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