Author: Eamonn Sheridan

Market chatter about a Morgan Stanley stock market buy alert

I posted a few minutes ago on The Morgan Stanley 3% cut to its S&P500 forecast everyone is talking about Just to muddy the waters a little ... I have heard this from a few different places this morning but at the moment will have to say its unconfirmed:

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Author: Adam Button

ForexLive Americas FX news wrap: Panic Part 2

Forex news for US  trading on Sept 1, 2015: - WTI crude down $4.92, or 10%, to $44.27 - S&P 500 down 58 points, or 3%, to $1913 - US 10-year yields down 6.5 bps to 2.15% Three days of calm didn't mask the underlying market jitters. There wasn't a particular trigger for the worries. The China PMI was a touch better than expected but it was still the worst reading since the crisis.

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Author: Eamonn Sheridan
8

Trade ideas thread for Wednesday 2 September 2015

Good morning/evening/afternoon. Could this be the last active day in Asia this week? Last chance to trade Chinese stocks before the weekend Any trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: 

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Author: Eamonn Sheridan
6

API crude oil inventories: up 7.6 mln barrels

American Petroleum Institute (API) crude oil inventories for the week to August 28 - U.S. crude oil stocks rise 7.6 mln bbls ... Much, much higher than the 'expected' for the EIA data tomorrow (see that, below) Oil price falling on the build in stockpiles

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Author: Eamonn Sheridan

Oil traders - heads up for the API data due at the bottom of the hour

US oil inventory data from the American Petroleum Institute is due at 4.30pm ET (2030GMT) ... and publicly available at 4.35pm (2035GMT) The API data is closely watched as a guide to the official EIA inventory data due tomorrow morning (US time).

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Author: Adam Button
2

USD/CAD setting up for a quick gain

When something can't rally on good news... A 27% rally in oil prices couldn't boost the Canadian dollar. GDP at -0.5% compared to -1.0% couldn't boost the Canadian dollar.

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Author: Adam Button

Stocks taking a beating

The S&P 500 is down 61 points, or 3.25%, to 1907 The Dow is down more than 500 points. If you thought it was over, it wasn't over. Never trust month end.

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Author: Adam Button
4

US August auto sales were the highest since July 2005

Strong monthly auto sales from autodata - Sales ran at a 17.81 million seasonally-adjusted annualized rate vs 17.55m in July It's not a surprise, throughout the day the trickled out.

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Author: Greg Michalowski

AUDUSD keeps the bears in charge

Sellers  come in against resistance levels In an earlier post (), I spoke of the downside momentum in the pair. I also outlined the risk level for shorts between the 38.2-50% of the last leg lower (see 0.7041-49 yellow area in the chart below).  The market decline did slow and the consolidation/correction did stall in the "correction zone" area (between the 38.2-50%).  

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Author: Greg Michalowski
2

EURGBP makes a break for it above the 200 day MA. 

..but can it stay above? The  EURGBP has been toying with a break over the 200 day MA today and over the last few weeks. Back on August 24, the pair moved above the key MA (stock plunge day) but came back down (see the line marked D1 MA:200.0 in the chart above). The pair then tested but held below the MA on August 26th and 28th. Today with the stock market falling sharply again (I guess that is the catalyst?), the pair is shooting higher again and seeing what life is like above that key MA. Risk for longs will be the break level at 0.7350.  The next target is the high from August at 0.7420.

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Author: Adam Button

US official plays nice with China comments

Unnamed US official cited by Reuters: - Chinaese authorities have the tools, capacity and resources to address growth challenges - US watching China FX markets, notes real effective yuan appreciation 'substantial' in the past year He noted that the real yuan depreciation recently has been less than 3%.

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Author: Adam Button
3

SNB's Jordan opens the door to another rate cut

SNB's Jordan: current negative rate not the absolute bottom - Will have to live with negative rates for a considerable period of time This is some dovish stuff from Jordan but the reaction from EUR/CHF has been minimal (although it's at a session high).

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Author: Adam Button

S&P 500 and USD/JPY at inflection points

These are the two lines that need to hold The 61.8% retracement of the S&P 500 rebound that started late last week is at 1915. If that breaks there is a good chance we go all the way back to the lows.

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Author: Greg Michalowski

USDCHF finds support against 100 hour MA and 50% retracement 

SNBs Jordan continues to state the CHF is overvalued SNB's Jordan is harping on the wires how the USDCHF is overvalued. That story is nothing new of course. What does the technical picture look like for the USDCHF?

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