USDINR trading lower since morning due to powerful equity fire , now trading at 54.40 , if it click our resistance and stays above this resistance then 55-55.30 not ruled out
if USDINR manage to click our support level and stays below this level then 53.80-53.50 is next in USDINR
More will update on twitter http://twitter.com/mohdarfat
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Posted by mohdarafat
Eurusd still trading lower since yesterday now at 1.2780 if it click our support and stays below this level then expect 1.2710-1.2650 and even more
if euro manage to pull till our resistance level and stays above this resistance then expect good short covering till 1.2860-1.2900
overall looking for a bounce so avoid short till not breaking our support
more will update to our subscribers
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U.S. stocks rose for the fifth week, giving the Standard & Poor’s 500 Index the longest rally since March, amid better-than-expected earnings and optimism that global central banks will take actions to stimulate growth.
Cisco Systems Inc., Alcoa Inc. and Hewlett-Packard (HPQ) Co. rose at least 7.3 percent, driving the Dow Jones Industrial Average (INDU) to its longest winning streak since October. Raw-material producers rose the most among 10 S&P 500 groups, as International Flavors & Fragrances Inc. (IFF) climbed 11 percent on better-than-estimated earnings. Knight Capital Group Inc., the firm driven to the brink of bankruptcy by trading losses, tumbled 28 percent after receiving a cash infusion.
The S&P 500 advanced 1.1 percent for the week to 1,405.87, extending its 2012 gain to 12 percent. The Dow climbed 111.78 points, or 0.9 percent, to 13,207.95. The Chicago Board Options Exchange Volatility Index (VIX), a benchmark gauge for options that protect against losses in the S&P 500, slipped 5.8 percent to 14.74, the lowest level since March.
“The risk-on trade is back,” Scott Armiger, a money manager at Christiana Trust in Greenville, Delaware, which has $11 billion in client assets, said in a phone interview. “People think things are on a much better footing now. No matter what they do, it’s either if the numbers are good, then we’re recovering, or if the number are bad, the Federal Reserve will stimulate and we’ll still move up.”
Equities advanced as German Chancellor Angela Merkelbacked a bond-buying proposal by the European Central Bank. A collapse in China’s exports added to signs the global economy is weakening, stoking speculation the government will step up measures to support expansion. In the U.S., central bank officials debated whether more action is needed to stimulate growth.
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A New York teenager out for a late- night drive in an all-terrain vehicle was charged with negligent vehicular homicide under the influence of alcohol after a crash that killed his passenger and prep-school roommate at the luxury Yellowstone Club resort in Montana.
James Sinclair Welch, 19, son of Welch Capital Partners LLC founder Leighton Welch of Bronxville, was arrested about 11:50 p.m. on Aug. 2 by the Montana Highway Patrol, according to state court documents. The victim, Parker Regan, 19, of Mendham, New Jersey, was a son of R. Christopher Regan, co-founder of the Chartis Group, a health-care consultancy.
The accident occurred at the Yellowstone Club, a private ski and golf resort near Big Sky, Montana. Members include Microsoft Corp. co-founder Bill Gates, Tour de France cycling champion Greg LeMond and Cliff Asness, co-founder of the hedge fund AQR Capital Management LLC in Greenwich, Connecticut.
Welch was driving a 2012 Polaris Ranger Crew, a four-wheel- drive vehicle, and told police he was making a left turn on Andesite Ridge Road when Regan “fell out,” according to an affidavit by Trooper Joshua Brown and a citation he issued.
On April 17, Welch was convicted of driving under the influence of alcohol in a separate incident, according to the affidavit. It didn’t say where that conviction occurred.
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Daily Forex 02-08-12
USD/CHF Resistance: 0.9850 Support: 0.9770 Trend: Weak
GBP/USD Resistance: 1.5600 Support: 1.5520 Trend: Positive
USD/CAD Resistance: 1.0099 Support: 1.0010 Trend: Positive
AUD/USD Resistance: 1.0520 Support: 1.0440 Trend: Positive
AUD/CAD Resistance: 1.0560 Support: 1.0500 Trend: Positive
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1) ECB gets off its arse and swings hammer of the printing press.
2) Italian consumer confidence bounces slightly off lowest level since at least ’96.
3) China’s July HSBC flash mfr’g index rises to 6 month high but at 49.5 is below 50 for a 9th straight month.
4) With record low mortgage rates, refi apps rise to the most since Apr ’09.
5) Jobless Claims fall to 353k, 27k less than expected but throw it out with seasonal distortions from historical auto plant shutdowns that aren’t shutting down this summer.
6) UoM final July confidence ticks up a touch from preliminary but finishes at lowest of the yr.
7) KC region mfr’g PMI up 2 pts to +5.
1) US Q2 GDP up just 1.5%, slowest in a yr with no improvement seen in Q3.
2) June Pending Home Sales unexpectedly falls 1.4% vs est of up .3%. NAR cites lack of inventory and not demand but it’s not like job and income growth has suddenly picked up.
3) June New Home Sales total 350k, down 32k and 22k less than expected.
4) Notwithstanding record low mortgage rates, purchase apps fall 3.2%.
5) Ex the volatile headline #, June Durable goods weak.
6) Richmond mfr’g falls to -17 from -3.
7) German IFO business confidence falls to lowest since Mar ’10.
UK GDP in Q2 falls .7% q/o/q, down for 3rd straight quarter.
9) Euro zone mfr’g and services composite index holds at 46.4 but below 50 for 6th straight month.
10) French business confidence drops to lowest since Feb ’10.
11) Italian business confidence near 3 yr lows.
12) In addition to Valencia, 6 other Spanish regions asking for help.
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Copper climbed for the first time in three days and Asian currencies rose as investors anticipated more stimulus from the U.S. and China. Oil declined and shares of utilities and Chinese real-estate companies dropped.
Copper in London advanced 0.5 percent at 1:39 p.m. in Tokyo. South Korea’s won and Malaysia’s ringgit gained for a fourth day, while the dollar traded near a one-week low against the euro. Oil dropped from a seven-week high. Standard & Poor’s 500 Index futures fell 0.2 percent and the MSCI Asia Pacific (MXAP) Index was little changed.
Federal Reserve Chairman Ben S. Bernanke, set to appear before a House committee today, told the Senate Banking Committee yesterday that policy makers are studying options for further easing that could include further purchases of assets. China’s State Council may announce measures to support growth after meeting today, according to analysts and state-run media. Premier Wen Jiabao said yesterday the labor situation will become more “severe,” underscoring concern that the weakest economic growth since 2009 will lead to increasing job losses.
“When the economy slows down and you don’t get enough jobs they expect the Fed to come up with miracles,” Kumar Palghat, founder of Kapstream Capital Pty, which manages A$4.5 billion ($4.5 billion) in Sydney, said in a Bloomberg Television interview. “Europe is really dragging the U.S. down as well, it’s not helping. The Fed can try whatever it wants but job creation is going to be tough.”
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daily fx resistance support
Here are some fx resistance support , will try to update this space daily
EUR/USD Support: 1.2150 Resistance 1.2280
USD/CHF Support: 0.9780 Resistance 0.9870
USD/JPY support: 79.05 Resistance 79.99
GBP/USD support: 1.5390 Resistance 1.5480
USD/CAD support: 1.0160 Resistance 1.0240
AUD/USD support: 1.090 Resistance 1.0180
AUD/CAD support : 1.0300 Resistance 1.0390
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Posted by mohdarafat
Nifty-future-price-forecast
Nifty did not broke range this entire week , again same levels, a good support 5270 if this click and remain below this level than 5250-5230 and more
resistance at 5350 if this resistance breach and remain above this level than 5380-5410 and more
more nifty analysis will post to our subscribers
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China’s imports rose less than anticipated in June, pushing the trade surplus to a three-year high and adding pressure on the government to support demand as the global economy slows.
Inbound shipments increased 6.3 percent from a year earlier, the customs bureau said in a statement today in Beijing, compared with the 11 percent median estimate in a Bloomberg News survey of 32 economists. Export growth slowed to 11.3 percent and the trade surplus rose to $31.7 billion.
The data add to signs of flagging momentum for global growth as Europe’s debt crisis curbs exports and property controls restrain domestic demand in the world’s second-biggest economy. Rising surpluses may further strain trade relations with the U.S., which surpassed the European Union in the first half as China’s biggest foreign market and is in the midst of a presidential election marked by criticism of the Asian nation.
“There’s something bad for everyone in this,” said Tim Condon, chief Asia economist at ING Financial Markets in Singapore, who previously worked at the World Bank. “On the import side the news is just bad,” with evidence of weak investment spending, which “reinforces hard-landing worries,” he said.
The MSCI Asia Pacific Index of stocks reversed gains after the report, falling 0.3 percent at 2:23 p.m. in Tokyo. An S&P/ASX 200 subindex of Australian materials suppliers dropped 1 percent as companies including BHP Billiton Ltd. and Rio Tinto Ltd. declined, an indicator of their reliance on Chinese demand.
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