Tag: usd

German Bunds Narrowly mixed in Thin Holiday Trading

The German bunds traded narrowly mixed Tuesday, succumbing to thin trading activity during a relatively quiet session that witnessed data of little significance. We foresee that the bond prices will keep drifting between small gains and losses in quiet trading due to a long global Christmas holidays.

Also, trading activity will resume after New Year celebrations, probably from the second week of January, 2017 as global market receives no more important data till then.

The yield on the benchmark 10-year bond, which moves inversely to its price, fell ½ basis point to 0.22 percent, the long-term 30-year bond yield climbed 1/2 basis point to 0.92 percent and the yield on short-term 2-year bond slid 1/2 basis point to -0.79 percent by 08:40 GMT.

Last week, Rimsevics, Latvia’s central bank governor, blamed a lack of progress on economic reform and on the European Commission’s stimulus package for curbing confidence and lending despite the ECB’s massive injection of cash since 2015, Reuters reported.

The ECB has extended its bond-buying scheme until the end of 2017 saying it was yet to be convinced that inflation was heading to its target of almost 2 percent, they added.

The Federal Reserve Chair Janet Yellen commented that the United States is now seeing its strongest labour market in nearly a decade as job creation has continued at a relatively steady pace. Also added that she has seen signs of wage growth improving and that weekly earnings for younger workers are making strong gains.

Meanwhile, the German stock index DAX Index traded 0.17 percent higher at 11,467.5 by 08:40 GMT. While at 08:00 GMT, the FxWirePro’s Hourly Euro Strength Index stood neutral at +21.80 (higher than +75 represent a bullish trend).

The material has been provided by InstaForex Company – www.instaforex.com

Fxwirepro: Usd/krw Ndfs Achieve Targets – Portfolio Reshuffling for Krw Trades, Begin New Year With revised Inputs

The Bank of Korea kept the policy rate unchanged but flagged increased downside risks to growth. We think the focus is likely to shift to short-term stimulus.

We had consistently been advocating USDKRW via NDFs and option spreads, please be noted that the spot FX is now trading at 1207 levels, where target set was at 1200 levels.  Refer below weblink for more readings on our previous write up:

http://www.econotimes.com/FxWirePro-Why-and-how-KRW-weaker-Take-a-look-on-tackling-downside-risks-443525

For now, swotting long shapes for USDKRW stop:

We still maintain the same position but now increase the stop in our existing longs in USDKRW (initiated on Dec 9th) to 1183 to lock in 0.80% of PnL. The trade is up by 2.30% including small negative carry. We continue to believe USDKRW would head towards Q1 target of 1240.

Simultaneously, we had also initiated longs in INRKRW trade in the previous times, and it is currently up by 6.55% including positive carry.  Refer these threads in EMFX section by following below weblinks:

http://www.econotimes.com/FxWirePro-RBI-designs-new-MPC-to-ensure-policy-actions-on-track-to-keep-inflation-targets-%E2%80%93-INR-trading-baskets-315779

http://www.econotimes.com/FxWirePro-How-to-position-EMFX-trade-basket-ahead-of-US-elections-383089

Road ahead for 2017, we’re revising long INRKRW stop: At spot reference of 17.74, the earlier trade has been altered for the higher stop at 17.35 (-2.19%), to lock-in 4.20% profit including positive carry. We keep target unchanged at 18.18 (which is still 2.48% higher). Thereby, the trade likely to fetch attractive risk reward ratio as the cross is likely to perform better if EM FX sentiment worsens, during which the RBI will likely do FX intervention to keep volatility low while the low-yielder KRW might depreciate more.

The material has been provided by InstaForex Company – www.instaforex.com

Analysis of EUR/NZD for December 27, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5140. Using the market profile, I found yesterday’s point of control at 1.5115 on the 30M time frame. There is absorption volume in the background. My advice is to watch for buying opportunit…

Indian Rupee Weakens To Weekly Low Versus U.S. Dollar

The Indian rupee drifted lower against the U.S. dollar in afternoon trading on Tuesday.

The rupee slipped to a weekly low of 68.03 against the greenback, compared to yesterday’s closing value of 67.85. The rupee may possibly find support around the 6…

How to trade with RSI indicator

the picture is RSI signal I always using for trade forex in manual open order. after I  back tester with the same expert still excellent in profitable account.