DailyFX

Lower Eurozone Producer Prices Fail to Stimulate Euro Volatility
Currencies

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THE TAKEAWAY: PPI numbers come in lower than expected -> high energy prices continue to affect producers -> Euro trades within tight range Producer price inflation in the 17-nation Eurozone increased less than expected in March, representing the sixth consecutive monthly drop in the gauge. The month-on-month number came in at 0.6% vs. the 0.5% predicted by economists, while the yearly number was 3.3% versus the expected 3.4%. The numbers

Analyzing Entries for the Next Kiwi Move
Currencies

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The NZDUSD (Kiwi Dollar) currency pair is one riddled with uncertainty. It has spent the better part of 2012 heading higher from its January low at .7708. After moving as much as 677 pips to our standing high at .8385, the pair has faltered failing to advance further to challenge the pairs all time high at .8841.

JPY Approaching Favorable Long Entries- NZD Eyes Key Support At 8080
Currencies

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Daily Winners and Losers The Japanese yen is the top performer against a stronger dollar at the close of European trade with loss of just 0.11% on the session. The greenback has continued to outperform all its major counterparts as markets remain on the defensive after a weaker than expected ADP employment report showed the addition of just 119K private sector jobs in April, missing consensus estimates for a print

Euro
Commodities

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THE TAKEAWAY: Manufacturing PMIs much weaker than expected -> Core countries hit by slowing demand from the European south -> Euro falls against US Dollar Weak readings from the European manufacturing sector sparked a bout of Euro weakness today. The weighty German manufacturing purchasing managers’ index came in at 46.2 versus the expected 46.3. Beleaguered Italy was hit hardest, with the gauge coming in at 43.8 versus the expected 47.1.

Rise in German Unemployment Further Discourages Euro Investors
Currencies

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THE TAKEAWAY: German unemployment rises by 19K, despite expectations for 10K fall -> positive labor market trend was said to have been outweighed by slowdown of economic momentum -> Euro drops as weak PMI manufacturing also comes in

Gold Bars
Currencies

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Daily Bars Prepared by Jamie Saettele, CMT for DailyFX 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).

USDCAD Trend is Down against 9980
Currencies

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240 Minute Bars Prepared by Jamie Saettele, CMT The multi month USDCAD range has been resolved to the downside therefore my bias is to the downside. Today’s advance off of GDP offers an opportunity to align with the larger downtrend. Resistance extends to 9925 and risk on shorts should be above 9980. Bottom Line (next 5 days) – sideways/lower?

EURUSD FXE
Stocks

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The US Dollar (ticker: USDOLLAR) is set to bounce off of recent range lows against the Euro, Japanese Yen, and other major counterparts as forex market volatility suggests range trading will be the top strategy in the week ahead. DailyFX Individual Currency Pair Conditions and Trading Strategy Bias

USD To Find Bid On Broader Fundamentals, AUD At Risk On RBA Policy
Currencies

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Index Last High Low Daily Change (%) Daily Range (% of ATR) DJ-FXCM Dollar Index 9830.8 9844.1 9816.27 0.07 55.72% The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is 0.07 percent higher from the open after being oversold on Friday, and the greenback should continue to retrace the decline from earlier this month as we expect the Federal Reserve to conclude its easing cycle this year. However, the technical outlook

Breaking News
Stocks

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This morning saw a flurry of economic data pushing the U.S. markets around ahead of the Friday’s Non-Farm Payroll