Author: Ryan Littlestone

Forex trading news and economic data headlines 30 July 2015

We got the reason why there was no clue to growth from the Fed last night. US GDP managed to get back to winning ways, although there were no champagne corks popping

We put Q1 in the rear view mirror but there was nothing for dollar bulls to grasp onto. Personal consumption is about the only real plus point but as usual it comes with bad news elsewhere, and that was from business investment falling. When all the components of the economy point the same way we may have something to celebrate

USDJPY kept itself above 124.00 into the number and via a little wobble to 124.28 from 124.40 we went on to try new highs at 124.54 before hitting 124.58 on the IMF headlines. That was as good as it got for the pair and we spent the afternoon drifting lower to 124.08

EURUSD didn't fuss much on the GDP numbers but looked heavy all day. The IMF headlines that they may not join the third bailout helped it down to 1.0910. We sat there for a while before an attempt to bust  1.0900 managed a 1.0893 low. We've since bounced as the dollar loses some support to 1.0930

AUDUSD is looking interesting as it tries it's luck at 0.7270. We managed another look lower to 0.7255 but couldn't keep the momentum and we're back above. That leaves the pair with some decisions to make on the next direction. The failure to break the level properly again should be a worry to shorts

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Author: Ryan Littlestone

US stocks close uninspired like US GDP

US stock market close 30 July 2015 - S&P flat at 2109  - Dow -3pts to 17747 - Nasdaq +18pts to 5129  US 10 year yields 2.26% -2bp

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Author: Ryan Littlestone
2

Bill Gross sees a sick patient in the US economy

Janus Capital's Bill Gross out with his latest monthly musings Bill Gross uses illness and cures to describe the current state of the world On Europe he talks about the German/ Greece battle and says that Draghi and the Merkel controlled Eurozone are following the saying "Feed a fever and starve a cold" with regards to growth. The fever in this case is financial bull markets being fed by 0% credit and the cold is fiscal austerity starved by balance budgets. He says the philosophy is working well for Germany, miserably for Greece and not so well for the Eurozone

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Author: Ryan Littlestone
8

What trading lesson can we get from boxing?

Boxing highlights a big trading emotion I've just been reading an . He's more or less the Don King of UK boxing and is just as well known abroad FT article on UK boxing promoter Frank Warren There's one line in the article that caught my attention;

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Author: Ryan Littlestone
1

Citi like a pound short while Morgan Stanley likes a long

Two sides of the pound trade in two different pairs This is what makes a market folks Citi's FX mob took a technical short at 1.5610 as they say they see the topside running out of steam 

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Author: Ryan Littlestone
5

IMF won't fund Greece without debt relief

Some comments from an IMF official They look pretty much the same as we had earlier from the FT - Greece needs sustainable plan to get loan from fund - Crisis requires difficult decisions on all sides The official has dismissed the FT story even though the FT stated that they would still be participating in talks. He/she has also pretty much given comments word for word from what Peter Spiegel wrote.

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Author: Ryan Littlestone
6

AUDUSD holding a very strong line around 0.7260

If the nut won't crack maybe it's no good 0.7269 is the level I highlighted some time ago as a target for shorts. We've had another look, broken through to 0.7255, but have moved back above

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Author: Ryan Littlestone
3

GBPUSD trips over the carpet to 1.5572

And bounces right back again Well it wasn't the fix today but we can't rule out some last minute end of month business being done Cable knocks out some small stops through 1.5585 to nick a new low. The 55 H4 ma sits right there too

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Author: Ryan Littlestone

European stocks manage modest gains

European stock market close 30 July 2015 For most, bar Spain - FTSE +0.7% - Cac +0.5% - Dax +0.3% - Ibex -0.8% - FTSE Mib +0.6% European bonds - Italy 1.83% -7bp

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Author: Ryan Littlestone
7

Dollar huffing and puffing to make a gain

US dollar looks like it wants to go higher but is making hard work of it The bulls aren't letting go just yet. They weren't given many scraps from the Fed, and growth is more of a 'well at least it wasn't crap' affair

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Author: Ryan Littlestone
3

Soft start for US stocks following GDP data

US stock market open 30 July 2015 - S&P -3pts to 2105  - Dow -18pts to 17732 - Nasdaq -12pts to 5099  US 10 year yields 2.28% flat

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Author: Ryan Littlestone
4

IMF cannot join Greek bailout - Livesquawk

IMF put the cat among the pigeons Livesquawk with a report that the IMF says that Greece's debt burden is too high for them to consider a third bailout The news comes from

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Author: Ryan Littlestone
5

Stops are stacking up at 1.0920 in EURUSD

Chatter from the desks is that a break of 1.0920 could be decent Latest market gossip is that stops are building up on a break of 1.0920. As well as there being stop loss orders under the number, there's said to be some stop sell orders there too.

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Author: Ryan Littlestone
9

US growth: Back on track or still got more to do?

Is the US back on its merry way after GDP data? What would the Fed like? It would like 4-5% growth per year, unemployment at sub 5.0% and inflation glued to 2.0%

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Author: Ryan Littlestone
1

US initial jobless claims 267k vs 270k exp

US initial jobless claims data report 30 July 2015 - Prior 255k - Continued claims 2.262m v s2.212m exp. Prior 2.207m. Revised to 2.216m - 4 week avg 274.75k vs 278.5k prior Not much here to see any toys thrown out the pram

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Author: Ryan Littlestone
15

Q2 2015 US GDP advance 2.3% vs 2.5% exp q/q annualised

Q2 2015 US GDP flash data report 30 July 2015 - Q1 final -0.2%. Revised to +0.6% - Personal consumption 2.9% vs 2.7% exp. Prior 2.1%. Revised to 1.8% - PCE 2.2% vs 2.0% exp. Prior -2.2%. Revised to -1.9% On a quick look we're doing ok. 2.3% is around the ball park which reduces worries that Q2 would follow in the footsteps of Q1

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Author: Ryan Littlestone
2

US Q2 GDP up next

Latest growth for the US released at  12.30 GMT At the bottom of the hour we US GDP for the second quarter of 2015 There were no clues from last night's FOMC statement about growth and they would have had a sniff at the numbers

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Author: Mike Paterson

German CPI July provisional mm +0.2 % vs +0.2% exp

Latest German inflation data now out - -0.1% prev - yy +0.2% vs +0.3% exp/prev - HICP mm+0.3 % vs +0.3% exp vs -0.2% prev - yy  +0.1 % vs +0.1% exp/prev That was delayed for some reason.. not me being end-of-session- slow!

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Author: Mike Paterson

Coming up at the top of the hour - German July inflation data

We've had the and now we wait on the full German data at 12.00 GMT regionals Capital Economics via Livesquawk have this to say: Data from the German states suggest that HICP (harmonised) inflation was flat at close to zero in July and confirm that underlying price pressures are very subdued. A weighted average of data from five German states, accounting for just over half of the national total, points to unchanged national CPI inflation of 0.3%. This suggests that the HICP measure probably held at 0.1%, in line with the consensus forecast (official data will be released at 13.00 BST). Forecasts are :

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