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Develop a habit of reviewing and analyzing

Develop a habit of reviewing and analyzing your good and bad trades. Then you will have a much better sense of what will work best in your future trades.

Trading is always full of emotions

Because trading is always full of emotions, you must have a trading strategy which includes a set of rules you stick to. This will help protect you from yourself.

software which aims at predicting future trends

While there are a lot of companies who make money by selling software which aims at predicting future trends, the reality is that if this software really worked, these companies would not be giving the secret away.

Trade wisely

There are many beginners who make trades in any direction. While there is a possibility to make profits both on the upside and downside of a trade, trading in the direction of the trend will give you the best chances for success

Invest in a good Forex trading education

The market is always changing and it may be hard to understand and keep up with these changes unless you invest in a good Forex trading education

Monday, 1 July 2013

Most Asian stocks higher ahead of RBA; Nikkei up 0.81%

Most Asian stocks traded higher Tuesday as many of the region’s major bourses looked to build on gains that started accruing last week. A raft buoyant economic data helped Asian shares move higher. 

In Asian trading Tuesday, Japan’s Nikkei 225 rose 0.81%, althoughUSD/JPY traded slightly lower. Earlier Tuesday, the Bank of Japan said Japan’s monetary base expanded to 36% in June from 31.6% in May. Analysts expected Japan’s Monetary base to rise to 41.2% last month. 

In a separate report, the Japanese Ministry of Health, Labour and Welfare said that Japan’s Average Cash Earnings remained unchanged at a seasonally adjusted 0.0% in the second quarter. The first-quarter reading was revised down from 0.3%. 

Hong Kong’s Hang Seng fell 0.48% while the Shanghai Composite gave up 0.49% amid lingering concerns about the strength of Chinese banks. China’s four largest banks are also among the world’s 10 largest banks. 

Australia’s S&P/ASX 200 jumped 1.1% due to strength in materials shares. The Aussie traded lower after Australian PMI jumped 5.8 points to 49.6 for the month of June. Readings below 50 indicate contraction. Still, the stark improvement from the May number indicates Australia’s manufacturing sector is starting to find solid ground and that could be a sign that a raft of interest rate cuts by RBA dating back to late 2011 are finally starting to have a positive impact on the world’s 12th-largest economy. 

RBA held rates steady at a record low of 2.75% following its last meeting and most economists expect the weak Aussie will prevent another rate cut later today. However, most economists also expect that RBA will lower rates again at some point this year. 

New Zealand’s NZSE 50 climbed 0.96% while South Korea’s Kospi fell 0.16%. Singapore’s Straits Times Index rose 0.56%. 

S&P 500 futures were up 0.18% a day after the benchmark U.S. index added 0.54%.

U.S stocks end higher but pare gains on Fed uncertainty; Dow rises 0.44%

U.S. stocks rose on Monday after manufacturing data beat expectations though lingering uncertainty as to when the Federal Reserve will scale back its USD85 billion monthly asset purchasing programs trimmed earlier gains.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.44%, the S&P 500 index ended up 0.54%, while the Nasdaq Composite index rose 0.92%.

Data released earlier painted a picture of a U.S. economy that is on the mend though still battling uncertainty.

The Institute for Supply Management said its manufacturing purchasing managers’ index rose to 50.9 from 49.0 in May, above expectations for a reading of 50.5.

However, the report added that the employment index declined to 48.7 from 50.1 in May, falling below the 50 level that separates contraction from growth for the first time since September 2009.

The numbers sparked some unease ahead of the release of Friday’s U.S. nonfarm payrolls data, which could provide the market with a weather vane as to when the Federal Reserve begins to taper its dollar-weakening stimulus measures, which tend to boost prices by keeping interest rates low across the economy.

Such concerns sent stocks falling from earlier highs though indices finished higher on sentiments the economy continues to improve.

Leading Dow Jones Industrial Average performers included United Technologies, up 1.94%, The Travelers Companies, up 1.53%, and Procter & Gamble, up 1.34%.

The Dow Jones Industrial Average's worst performers included Intel, down 1.40%, Pfizer, down 0.82%, and JPMorgan Chase, down 0.55%.

European indices, meanwhile, finished higher

After the close of European trade, the EURO STOXX 50 rise 0.77%, France's CAC 40 rose 0.76%, while Germany's DAX 30 finished up 0.31%. Meanwhile, in the U.K. the FTSE 100 finished up 1.49%.

Forex - Dollar edges lower on labor market uncertainty


The dollar traded lower against most major currencies on Monday after a component in a manufacturing gauge hinted at a possible softening in job demand, clouding prospects as to when the Federal Reserve will taper its USD85 billion monthly bond-buying program that weakens the greenback to spur recovery.

The Bureau of Labor Statistics on Friday will release its June jobs report after a the U.S. Independence Day on Thursday, and uncertainty as to the health of the labor market pushed the dollar lower.

In U.S. trading on Monday, EUR/USD was up 0.42% at 1.3066 on improving factory data.

U.K.-based Markit's final euro zone purchasing managers' index hit a 16-month high of 48.8 in June, beating market calls for a 48.7 reading.

Spain’s manufacturing PMI rose to 50.0 in June, the highest level in two years, up from 48.1 in May and above expectations for a 48.5 reading.

France’s manufacturing PMI came in at 48.4 compared to market calls for 48.3, but Germany’s manufacturing PMI came in at 48.6, missing expectations for a 48.7 reading, which gave the euro added support.

Elsewhere, official data revealed that the euro zone's unemployment rate hit 12.1% in May from 12.0% in April, slightly lower than expectations for a 12.3% reading.

The euro zone's consumer price index rose to 1.6% in June from 1.4% in May, in line with expectations.

Across the Atlantic, manufacturing output is on the rise in the U.S. as well.

The Institute for Supply Management said its manufacturing purchasing managers’ index rose to 50.9 from 49.0 in May, above expectations for a reading of 50.5.

However, the report added that the employment index declined to 48.7 from 50.1 in May, falling below the 50 level that separates contraction from growth for the first time since September 2009.

The numbers frayed nerves somewhat ahead of the release of Friday’s U.S. nonfarm payrolls data, which could provide the market with a weather vane as to when the Federal Reserve begins to taper its dollar-weakening stimulus measures.

The greenback was down against the pound, with GBP/USD trading up 0.08% at 1.5219.

The dollar was up against the yen, with USD/JPY up 0.48% at 99.65, and up against the Swiss franc, with USD/CHF trading up 0.06% at 0.9454.

Japan's Tankan index of sentiment among large manufacturers jumped up to 4 during the second quarter from -8 in the first quarter, outpacing market calls for a reading of 3.

The news sent Japanese stocks gaining earlier that came at the expense of the yen.

The dollar was down against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.22% at 1.0496, AUD/USD up 1.03% at 0.9236 and NZD/USD trading up 0.92% at 0.7814.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.26% at 83.20.

On Tuesday, the U.S. is to release official data on factory orders, a leading indicator of production.

Forex - USD/JPY gains on surging Japanese business confidence gauge

The dollar traded higher against the yen on Monday after a widely-watched Japanese index of business confidence beat expectations and enticed investors out of the safety of the yen and into equities.

In U.S. trading on Monday, USD/JPY was trading at 99.60, up 0.43%, up from a session low of 99.19 and off a high of 99.86.

The pair was likely to find resistance at 99.86, the earlier high, and support at 99.19, the earlier low.

Japan's Tankan index of sentiment among large manufacturers jumped up to 4 during the second quarter from -8 in the first quarter, outpacing market calls for a reading of 3.

The news sent Japanese stocks gaining earlier that came at the expense of the yen.

Meanwhile in the U.S. the Institute for Supply Management said its manufacturing purchasing managers’ index rose to 50.9 from 49.0 in May, above expectations for a reading of 50.5.

However, the report added that the employment index declined to 48.7 from 50.1 in May, falling below the 50 level that separates contraction from growth for the first time since September 2009.

The numbers dampened the dollar's advance ahead of the release of Friday’s U.S. nonfarm payrolls data, which could provide the market with a weather vane as to when the Federal Reserve begins to taper its USD85 billion-a-month asset purchasing program, which weakens the greenback to spur recovery.

The yen, meanwhile, was down against the pound and down against the euro, with GBP/JPY up 0.55% and trading at 151.63 and EUR/JPYtrading up 0.88% at 130.15.

On Tuesday, the U.S. is to release official data on factory orders, a leading indicator of production.

Crude oil jumps on European, U.S. manufacturing reports

Crude prices rose on Monday after improving manufacturing barometers in the U.S. and Europe fanned expectations that the global economy is on the mend and will demand more fuels and energy going forward.

On the New York Mercantile Exchange, light sweet crude futures for delivery in August traded up 1.38% at USD97.89 a barrel on Monday, off from a session high of USD98.28 and up from an earlier session low of USD96.08.

U.K.-based Markit's final euro zone purchasing managers' index hit a 16-month high of 48.8 in June, beating market calls for a 48.7 reading, which pushed up prices of crude, a growth-sensitive commodity.

Spain’s manufacturing PMI rose to 50.0 in June, the highest level in two years, up from 48.1 in May and above expectations for a 48.5 reading.

France’s manufacturing PMI came in at 48.4 compared to market calls for 48.3, but Germany’s manufacturing PMI came in at 48.6, missing expectations for a 48.7 reading.

Elsewhere, official data revealed that the euro zone's unemployment rate hit 12.1% in May from 12.0% in April, slightly lower than expectations for a 12.3% reading.

The euro zone's consumer price index rose to 1.6% in June from 1.4% in May, in line with expectations.

Across the Atlantic, manufacturing output is on the rise in the U.S. as well.

The Institute for Supply Management said its manufacturing purchasing managers’ index rose to 50.9 from 49.0 in May, above expectations for a reading of 50.5.

Concerns that protests in Egypt may spread to oil-rich nations in the Middle East and disrupt supply bolstered prices as well.

On the ICE Futures Exchange, Brent oil futures for August delivery were up 0.68% at USD102.86 a barrel, up USD4.97 from its U.S. counterpart.

Natural gas gains on weather forecasts, weekly supply data weighs

Natural gas prices moved higher on Monday as investors digested weather forecasts to determine if hotter temperatures forecast for parts of the heavily populated eastern U.S. will hike demand for the commodity.

Rising stockpile data released last week allowed for choppy trading.

In the New York Mercantile Exchange, natural gas futures for delivery in August traded at USD3.576 per million British thermal units, up 0.29%.

The commodity hit a session low of USD3.532 and a high of USD3.607.
In the U.S. earlier, MDA Weather Services predicted above-average temperatures to settle in over the northeastern U.S. through mid July, which differed from earlier forecasts.

Prices rose on the report though trading was choppy, especially on the heels of bearish supply data.

The U.S. Energy Information Administration said in its weekly report on Thursday that natural gas storage in the U.S. in the week ended June 21 rose by 95 billion cubic feet, above expectations for an increase of 88 billion.

Inventories rose by 58 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a rise of 79 billion cubic feet.

Total U.S. natural gas storage stood at 2.533 trillion cubic feet as of last week. Stocks were 522 billion cubic feet less than last year at this time and 31 billion cubic feet below the five-year average of 2.564 trillion cubic feet for this time of year.

The report showed that in the East Region, stocks were 89 billion cubic feet below the five-year average, following net injections of 58 billion cubic feet. 

Stocks in the Producing Region were 13 billion cubic feet above the five-year average of 944 billion cubic feet after a net injection of 24 billion cubic feet.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in August were up 1.10% and trading at USD97.62 a barrel, while heating oil futures for August delivery were up 0.31% at USD2.8676 per gallon.

Forex - EUR/USD gains as European manufacturing gauge surprises

The euro firmed against the dollar on Monday after data showed that eurozone manufacturing output came in better than expected in June.

In U.S. trading on Monday, EUR/USD was up 0.37% at 1.3058, up from a session low of 1.3006 and off from a high of 1.3061.

The pair was likely to find support at 1.2992, Friday's low, and resistance at 1.3103, Friday's high.

U.K.-based Markit's final euro zone purchasing managers' index hit a 16-month high of 48.8 in June, beating market calls for a 48.7 reading.

Spain’s manufacturing PMI rose to 50.0 in June, the highest level in two years, up from 48.1 in May and above expectations for a 48.5 reading.

France’s manufacturing PMI came in at 48.4 compared to market calls for 48.3, but Germany’s manufacturing PMI came in at 48.6, missing expectations for a 48.7 reading, which gave the euro added support.

Elsewhere, official data revealed that the euro zone's unemployment rate hit 12.1% in May from 12.0% in April, slightly lower than expectations for a 12.3% reading.

The euro zone's consumer price index rose to 1.6% in June from 1.4% in May, in line with expectations.

Across the Atlantic, manufacturing output is on the rise in the U.S. as well.

The Institute for Supply Management said its manufacturing purchasing managers’ index rose to 50.9 from 49.0 in May, above expectations for a reading of 50.5.

However, the report added that the employment index declined to 48.7 from 50.1 in May, falling below the 50 level that separates contraction from growth for the first time since September 2009.

The numbers frayed nerves somewhat ahead of the release of Friday’s U.S. nonfarm payrolls data, which could provide the market with a weather vane as to when the Federal Reserve begins to taper its USD85 billion-a-month asset purchasing program, which weakens the greenback to spur recovery.

The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.12% at 0.8565 and EUR/JPY trading up 0.85% at 130.11.

On Tuesday in the euro zone, Spain is to release official data on the change in the number of people unemployed.

The U.S. is to release official data on factory orders, a leading indicator of production.

Forex - GBP/USD pares gains ahead of U.S. data

The pound pulled back from session highs against the dollar on Monday as investors looked ahead to U.S. data on manufacturing activity later in the trading day.

GBP/USD pulled away from 1.5246, the session high, to hit 1.5218 during European afternoon trade, still up 0.08% for the day.

Cable was likely to find support at 1.5182, the session low and resistance at 1.5345, the high of June 27.

The pound touched session highs earlier in the session after data showed that manufacturing activity in the U.K. expanded at the fastest pace in more than two years in June.

Markit said that its U.K. manufacturing purchasing managers’ index rose to a seasonally adjusted 52.5 in June from an upwardly revised reading of 51.5 in May.

Analysts had expected the manufacturing PMI to hold steady at 51.5 last month.

Rob Dobson, senior economist at survey compiler Markit, said the data indicated that manufacturing output rose by around 0.5% over the second quarter and pointed to economic growth picking up from the first quarter’s 0.3% to at least 0.5%.

The report also made it increasing unlikely that the Bank of England would implement additional stimulus measures at its monthly meeting later in the week, Dobson said.

A separate report showed that net lending to individuals in the U.K. fell less-than-expected in May. 

The BoE said total net lending to individuals fell to GBP1.0 billion from a revised GBP1.3 billion in April. Analysts had expected net lending to increase to GBP1.4 billion in May.

The report also showed that the number of final mortgage approvals rose to 58,000 in May from 54,000 in April, above expectations for an increase to 56,000.

Investors were looking ahead to the Institute of Supply Management’s report on U.S. manufacturing activity later in the trading day amid expectations that the Fed will soon start tapering its USD85 billion-a-month bond buying program. 

Investors were also awaiting Friday’s U.S. nonfarm payrolls data, for further clues on when the U.S. central bank may decide to unwind its stimulus program.

Sterling was lower against the euro, with EUR/GBP rising 0.14% to 0.8566.

The euro was boosted after data indicated that the slump in the euro zone’s manufacturing sector is easing.

Spain’s manufacturing PMI rose to 50.0 in June, the highest level in two years, up from 48.1 in May.

France’s manufacturing PMI improved to 48.4 from 46.4 in May, but Germany’s manufacturing PMI fell to 48.6, from May's reading of 49.4.

Meanwhile, official data showed that the euro zone unemployment rate ticked up to 12.1% in May from 12% in April, compared to expectations for a reading of 12.3%.

Another report showed that consumer price inflation in the euro zone rose 1.6% in June from 1.4% in May, in line with expectations.

Forex - Euro higher against dollar


The euro was higher against the dollar on Monday ahead of the release of U.S. manufacturing data as speculation over when the Federal Reserve may begin to taper its asset purchase program continued.

EUR/USD hit 1.3060 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3041, rising 0.24%.

The pair was likely to find support at 1.2983, the low of June 26 and resistance at 1.3086, the high of June 26.

Earlier Monday, data indicated that the slump in the euro zone’s manufacturing sector is easing.

Spain’s manufacturing purchasing managers’ index rose to 50.0 in June, the highest level in two years, up from 48.1 in May.

France’s manufacturing PMI improved to 48.4 from 46.4 in May, but Germany’s manufacturing PMI fell to 48.6, from May's reading of 49.4.

Meanwhile, official data showed that the euro zone unemployment rate ticked up to 12.1% in May from 12% in April, compared to expectations for a reading of 12.3%.

Another report showed that consumer price inflation in the euro zone rose 1.6% in June from 1.4% in May, in line with expectations.

Investors were looking ahead to the Institute of Supply Management’s report on U.S. manufacturing activity later in the trading day amid expectations that the Fed will soon start tapering its USD85 billion-a-month bond buying program. 

Investors were also awaiting Friday’s U.S. nonfarm payrolls data, for further clues on when the U.S. central bank may decide to unwind its stimulus program.

The euro was higher against the pound and the yen, with EUR/GBP up 0.15% to 0.8566 and EUR/JPY advancing 0.73% to 129.93.

In the U.K., data on Monday showed that manufacturing activity expanded at the fastest pace in more than two years in June.

The U.K. manufacturing PMI rose to a seasonally adjusted 52.5 in June from an upwardly revised reading of 51.5 in May.

Analysts had expected the manufacturing PMI to hold steady at 51.5 last month.

European stocks remain higher after mixed E.Z. data; Dax up 0.28%

European stocks remained higher on Monday, after the release of mixed euro zone data, while uncertainty over the future of the Federal Reserve's stimulus program persisted. 

During European afternoon trade, the EURO STOXX 50 climbed 0.65%, France’s CAC 40 advanced 0.65%, while Germany’s DAX 30 added 0.28%. 

Official data showed that the unemployment rate in the euro zone ticked up to 12.1% in May from 12% in April, compared to expectations for a reading of 12.3%.

Another report showed that consumer price inflation in the euro zone rose to 1.6% in June from 1.4% in May, in line with expectations. 

Meanwhile, investors remained cautious amid expectations that the Fed will soon start tapering its USD85 billion-a-month bond buying program. Investors were awaiting Friday’s U.S. nonfarm payrolls data, with good data set to bolster the dollar further. 

Financial stocks were mixed. In France, BNP Paribas added 0.28% and Societe Generale tumbled 1.29%, while Germany's Deutsche Bank slid 0.32%.

Among peripheral lenders, Spanish bank BBVA declined 0.47% and Banco Santander surged 2.04%, while Italy's Unicredit and Intesa Sanpaolo gained 0.06% and 0.73% respectively. 

Elsewhere, Aker Solutions rose 0.36% after saying it signed a contract worth as much as USD440 million to deliver the subsea production system to an oil field development in the U.K.’s North Sea. 

Adding to gains, cellphone maker Nokia Oyj soared 7.52% after agreeing to buy Siemens' stake in their joint venture. 

In London, FTSE 100 jumped 0.78% after data showed that manufacturing activity in the U.K. expanded at the fastest pace in more than two years in June. 

Financial stocks turned mostly higher, as shares in Lloyds Bankingrallied 1.08% and HSBC Holdings surged 1.56%, while Barclays added 0.18%. The Royal Bank of Scotland remained on the downside however, slipping 0.11%. 

Mining stocks also turned broadly higher, with Rio Tinto and BHP Billiton climbing 0.50% and 0.74% respectively, while and Anglo American and Polymetal jumped 0.99% and 4.74%. 

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.52% gain, S&P 500 futures signaled a 0.46% rise, while the Nasdaq 100 futures indicated a 0.62% climb. 

Also Monday, Markit research group said that Spain's manufacturing purchasing managers' index rose to 50.0 in June, from a reading of 48.1 the previous month, beating expectations for a rise to 48.5 and re-entering expansion territory for the first time sine May 2011. 

Later in the day, the U.S., the Institute of Supply Management was to produce a report on manufacturing activity.

U.S. futures higher ahead of data; Dow Jones up 0.51%

U.S. stock futures pointed to a higher open on Monday, as markets eyed the release of U.S. data amid ongoing uncertainty over the future of the Federal Reserve's stimulus program. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.51% gain, S&P 500 futures signaled a 0.42% rise, while the Nasdaq 100 futures indicated a 0.60% increase. 

Markets were jittery amid expectations that the Fed will soon start tapering its USD85 billion-a-month bond buying program. Investors were awaiting Friday’s U.S. nonfarm payrolls data, with good data set to bolster the dollar further. 

Investors also remained cautious after the release of mixed Chinese manufacturing reports. 

China’s official manufacturing purchasing managers’ index came in at 50.1 in June, above expectations for 50.0, following a reading of 50.8 in May.

Separately, China’s HSBC manufacturing PMI fell to a nine-month low of 48.2 in June, down from a preliminary reading of 48.3 and further below the 50 level that separates contraction form expansion. 

Pharmaceutical companies were likely to be in focus, after Onyx Pharmaceuticals confirmed on Sunday it had rejected a purchase offer from Amgen, the world's biggest biotech company. 

Onyx shares skyrocketed 47.43% in pre-market trade. 

Also in company news, private equity firms Blackstone and Lion Capital were said to have teamed up to make a formal bid worth more than GBP1 billion for Lucozade and Ribena, the two soft drink brands put up for sale by drugmaker GlaxoSmithKline. 

In the tech sector, BlackBerry was expected to be active, as shares plunged 3.82% after the smartphone maker disclosed disappointing demand for a touch-screen device viewed as critical to attracting younger users. 

Separately, Sony said its sold almost USD13 million in video and medical equipment to dealers in Dubai that resold the gear in Iran. The recipients reportedly included groups under U.S. sanctions. 

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.57%, France’s CAC 40 advanced 0.61%, Germany's DAX rose 0.35%, while Britain's FTSE 100 rallied 0.85%. 

During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.78%, while Japan’s Nikkei 225 Index rallied 1.28%. 

Later in the day, the Institute of Supply Management was to produce a report on manufacturing activity.

Dollar gains ground vs. yen, lower vs. euro

The dollar was higher against the yen on Monday and was broadly lower against the other major currencies, despite speculation that the Federal Reserve will soon start to pull back its asset purchase program.

During European late morning trade, the dollar climbed to three-and-a-half week highs against the yen, with USD/JPY rising 0.39% to 99.52.

Earlier Monday, the Bank of Japan’s quarterly business sentiment index showed a strong jump in optimism among large manufacturers in the three months to June, adding to the view that the economy is picking up.

Investors were awaiting Friday’s U.S. nonfarm payrolls data as speculation over how soon the Fed will start to unwind its USD85 billion-a-month bond buying program continued.

Elsewhere, the dollar was lower against the pound, with GBP/USD up 0.15% to 1.5230 after data showed that manufacturing activity in the U.K. expanded at the fastest pace in more than two years in June.

Markit said that its U.K. manufacturing purchasing managers’ index rose to a seasonally adjusted 52.5 in June from an upwardly revised reading of 51.5 in May.

Analysts had expected the manufacturing PMI to hold steady at 51.5 last month.

The euro was close to session highs against the dollar, with EUR/USDclimbing 0.28% to 1.3046.

In the euro zone, official data showed that the unemployment rate ticked up to 12.1% in May from 12% in April, compared to expectations for a reading of 12.3%.

Another report showed that consumer price inflation in the euro zone rose to 1.6% in June from 1.4% in May, in line with expectations.

The dollar edged higher against the Swiss franc, with USD/CHF inching up 0.06% to 0.9454. 

The greenback was broadly lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD up 0.51% to 0.9185,NZD/USD gaining 0.43% to trade at 0.7774 and USD/CAD dipping 0.06% to 1.0511.

The Australian dollar found some support after data showed that China’s official manufacturing PMI came in at 50.1 in June, above expectations for 50.0, following a reading of 50.8 in May.

However, a separate report showed that China’s HSBC manufacturing PMI fell to a nine-month low of 48.2 in June, down from a preliminary reading of 48.3 and further below the 50 level that separates contraction from expansion.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, slipped 0.16% to 83.29. 

The Institute of Supply Management was to produce a report on U.S. manufacturing activity later in the trading day.

Forex Trading Signal for 1st July 2013


                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)

For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 















EUR/USD
 Down Trend :

 (1) SELL
E/P: 1.30295
T/P: 1.29900
S/L: 1.30700
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GBP/USD
Down Trend:

(1) SELL
E/P: 1.52141
T/P: 1.51800
S/L: 1.52600
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

USD/JPY
Up Trend:

(1) BUY
E/P: 98.966
T/P: 99.300
S/L: 98.500

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

USD/CHF
Down Trend:

(1) SELL
E/P: 0.94404
T/P: 0.94100
S/L: 0.94800



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