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    Forex Market Outlook 10/05/11

     

    Was yesterday's intense rally just a pause in the selling or does this mark a reversal of trend?  This is the million dollar question and one that the markets are weighing very carefully.  The catalyst for yesterday's move higher was none other than Fed Chairman Bernanke who stated in his speech to the Joint Economic Committee that further monetary stimulus could be forthcoming.

     

    This gave the markets an immediate shot in the arm and they rallied on those words as the thought of more free Fed money is too good to ignore.  Many thought, including myself, that given the politics of further easing he might avoid the topic, but with the recent selling taking place something had to be done.  So I applaud him for his courage, though political pressure seems to be waning against complete opposition to further monetary stimulus.

     

    This was enough to push markets higher including the Euro, which had maintained strength until this morning after Moody's downgraded Italy by three notches and warned that further downgrades of other countries could occur.  Couple this with weaker PMI services figures from the Euro zone and declining retail sales figures (-1% vs. an expected -.7%) and the economic picture doesn't look much better than it did two days ago. 

     

    Yet for some reason the markets believe that EU leaders are making serious strides toward a debt crisis resolution this time, all but admitting that they haven't taken this crisis seriously enough to this point.  One positive note was a vote of confidence in Portugal as investors passed on an opportunity to receive early payouts from a bond issue, electing to wait it out.

     

    In the UK, GDP figures came in slightly worse than expected, showing a gain of .1% for the quarter vs. an expectation of .2%, bring the YoY figure down to .6% from the expected .7%.  While this does indeed show a declining economic picture, it is unclear if this is enough to cause the BOE to increase asset purchases at tomorrow's rate decision. 

     

    The EU rate decision also tomorrow, though, is another story.   The ECB has been reluctant to step up in the wake of the debt crisis and it will be interesting to see what if anything they announce tomorrow.  They could use this platform not to change rate policy per se, but rather announce plans for how they plan to combat the debt issue.  The difference between the two rate decisions is that the BOE does not issue a statement with their decision, and the ECB does.

     

    Rounding out the news from around the globe, Australian retail sales figures came in better than expected, showing a gain of .6% vs. an expectation of .2%.  This has helped push the Aussie higher in conjunction with the Dollar weakness we saw yesterday and the follow-through this morning.

     

    The ADP jobs report came out here in the US this morning and showed an increase of private sector jobs of 91K, vs. an expectation of 75K.  While this number bears no significant correlation to Friday's Non-Farm Payrolls report, it should be noted that although Friday's NFP is expected to show a gain of around 60K, the number of private sector jobs expected to be added is closer to 100K.

     

    While the markets started the morning in risk-taking mode, it appears as though we are giving back some earlier gains as both stocks and risk assets are selling off a bit.  While still in positive territory, it will be interesting to see if this rally can be sustained or if it was just a one-day wonder.

     

    So today may be what we call an "inside day", where we make neither new highs or lows as we wait for the rate decisions of tomorrow to guide sentiment.  And of course any news out of the Euro zone will be dissected, though the usual "no news is good news" mantra may not hold water in this situation.  Clarity form the Euro zone is needed, and not obscurity.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

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      "allan.orkid" <allan.orkid@gmail.com> Oct 05 04:40PM +0800 ^
       
      ======================================================================
       
       
       
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      "ForexAbode.com" <newsletter@forexabode.com> Oct 04 09:38PM +0900 ^
       
      Dear All,
       

       
      Oct 4th- Today's EUR/USD, EUR/JPY, USD/JPY, GBP/JPY, AUD/JPY, GBP/USD,
      AUD/USD & USD/CHF : Technical analysis updated - at
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      "ForexAbode.com" <newsletter@forexabode.com> Oct 05 07:57PM +0900 ^
       
      Dear All,
       

       
      Oct 5th- Today's EUR/USD, EUR/JPY, USD/JPY, GBP/JPY, AUD/JPY, GBP/USD,
      AUD/USD & USD/CHF : Technical analysis updated - at
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    [Safe Forex Trading System] Pivots

    In this article we will discuss about a widespread, well-known key element of technical analysis. Why do you think technical analysis especially some elements work so well for financial markets? Why do you think Fibonacci levels are usually strictly followed? Because thousands and billions of traders and computer programs for trading use these elements. This way everybody acts the same at the same time…

     

    This is why we decided to present in the category of technical analysis, the most used and well-known methods of predicting financial evolution. These methods are easy to understand and are very efficient. 

    We will discuss about pivots. We will find out what pivots are and how they are calculated. We will use them in our charts and we will see how they act. We will discover how useful they are and, at the end, we will draw the conclusions. 

     

    We will use pivots daily in our analyzing and trading system.

     

    To read the entire article click HERE (http://bit.ly/qLcxbP).

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      green rose <greenrose2u@gmail.com> Oct 04 01:01PM -0700 ^
       
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      Oct 4th- Today's EUR/USD, EUR/JPY, USD/JPY, GBP/JPY, AUD/JPY, GBP/
      USD, AUD/USD & USD/CHF : Technical analysis updated ? at
      http://www.ForexAbode.com/.
       
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    Pivots

    In this article we will discuss about a widespread, well-known key element of technical analysis. Why do you think technical analysis especially some elements work so well for financial markets? Why do you think Fibonacci levels are usually strictly followed? Because thousands and billions of traders and computer programs for trading use these elements. This way everybody acts the same at the same time…

     

    This is why we decided to present in the category of technical analysis, the most used and well-known methods of predicting financial evolution. These methods are easy to understand and are very efficient. 

    We will discuss about pivots. We will find out what pivots are and how they are calculated. We will use them in our charts and we will see how they act. We will discover how useful they are and, at the end, we will draw the conclusions. 

     

    We will use pivots daily in our analyzing and trading system.

     

    To read the entire article click HERE (http://bit.ly/qLcxbP).

    You can also SUBSCRIBE (http://eepurl.com/f5i4z) to our weekly newsletter to receive free reports about Dow Jones and EUR / USD parity.

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    Group: http://groups.google.com/group/globalspeculators/topics

      RAJESH DESAI <stockdesai@gmail.com> Oct 04 05:05PM +0530 ^
       
      *Titan to hike watch prices up to 20% on foreign exchange, gold hit*
       
      Oct 04, 2011
      Titan Industries, the watch, eyewear and jewellery maker, is looking to
      hike watch prices by 4-20 per cent more...
      RAJESH DESAI <stockdesai@gmail.com> Oct 04 04:09PM +0530 ^
       
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      (Reuters) - Reliance Retail is in talks with international frozen food
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      Kothari <abhishekkothari2@gmail.com> Oct 04 02:21PM +0530 ^
       
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      Abhishek Kothari
      -----------------------------------------------------------------------------
      Let Success be Your Achievement and not Your Goal more...
      alok agarwal <alok.groups@gmail.com> Oct 04 02:49PM +0530 ^
       
      नई दिल्ली।। बाजार में मंदी के दौर को देखते हुए कम से कम 22 कंपनियों ने इस more...

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    soc.culture.hmong
    http://groups.google.com/group/soc.culture.hmong

    Today's most active topics:

    * Saib Ntsej muag Xaiv tsav xwb los yog li cas? - 9 new
    http://groups.google.com/group/soc.culture.hmong/t/28f3680cdc6e1976
    * Suav Thiab Nplog Sib Cog Lug Rau Ttxoj Kev Txhim Kho Kev Tsheb Ciav Hlau. - 4 new
    http://groups.google.com/group/soc.culture.hmong/t/590910bc3afeb73c
    * Thanouxay or DKJ why your goverment still doing these thing??? LPDR officials kill Hmong - 3 new
    http://groups.google.com/group/soc.culture.hmong/t/1d6b3afc9ad84d0d
    * Ntes Vauv - 2 new
    http://groups.google.com/group/soc.culture.hmong/t/dc07197fab5a7c06
    * Life in Laos is hard but rewarding - 1 new
    http://groups.google.com/group/soc.culture.hmong/t/2ae0cc6fb55ac99c


    Active Topics
    -------------

    Suav Thiab Nplog Sib Cog Lug Rau Ttxoj Kev Txhim Kho Kev Tsheb Ciav Hlau. - 4
    new
    ---
    ... Yawg Tshaj, Txhob rawm maj cia siab. Xws li tam sim no suav twb muab tso
    tseg lawm vim thaib tsis xav kom blog txeeb Thaib cov neeg ncig ntuj (tourists)
    . Thaib twb tsis kam ua txoj kev High Speed train tuaj Bangkok tuaj rau Nong
    Khai, Thaib yuav ua mus Bangkok rau Chiangmai lawm, Thai yeej paub zoo hais
    tias yog ua rau txoj kev no tshab Suav teb, - Mon 3 Oct 2011 18:25
    4 messages , 2 authors
    http://groups.google.com/group/soc.culture.hmong/t/590910bc3afeb73c


    Saib Ntsej muag Xaiv tsav xwb los yog li cas? - 9 new
    -----------------------------------------------------
    Thaib tus Nas Nyauv yog tus poj niam, tej zaum yog zoo nkauj es cov txiv neej
    cia li xaiv nws los ua xwb los kuj tsi paub. [link][link][link]Neeg zoo nkauj
    ces txawm tau nom loj neeg Asia mas xaiv ntsej muag - Tues 4 Oct 2011 05:15
    9 messages , 5 authors
    http://groups.google.com/group/soc.culture.hmong/t/28f3680cdc6e1976


    Life in Laos is hard but rewarding - 1 new
    ------------------------------------------
    ... Well, very dangerous - Tues 4 Oct 2011 06:30
    1 message, 1 author
    http://groups.google.com/group/soc.culture.hmong/t/2ae0cc6fb55ac99c


    Ntes Vauv - 2 new
    -----------------
    ... PY Nyujquslaug, Koj yeej hais yog lus lawm hais tias lawv qhov teebmeem
    twb muab settle tag lawm ces cia yuav li ntawd. Tabsis yog peb tsis muab los
    sib tham kom haum rau lub neej tamsis no, es yog tag kis ho rov muaj dua ne,
    peb ho yuav ua li cas? Yog tus tub mloog lus li case ntawd ces nyaj yuav
    settle tau raws li Hmoob poj ua tseg yawm ua cia, tabsis yog - Tues 4 Oct 2011
    07:45
    2 messages , 2 authors
    http://groups.google.com/group/soc.culture.hmong/t/dc07197fab5a7c06


    Ntxhais hmoob tshuab qeej - 1 new
    ---------------------------------
    cov phoojywg, hais txog tshuab qeej, koj txawm tshuab zoo thiab tsi zoo, pa
    yuav zoo thiab tsi zoo, qhov tseeb mas.... xav kom po raug cov ntiv thiaj tso
    mus tshuab. kev tshuab qeej, tsi yog tshuab li raj, es tshuab 1 lub suab xwb...
    vim tias hauv qeej, ib npe muaj 1, 2, 3 tus ntiv nrog/ tshuab uake. tshuab po
    qeej li po raj xwb ces, peb hmoob hais tias - Tues 4 Oct 2011 08:58
    1 message, 1 author
    http://groups.google.com/group/soc.culture.hmong/t/f491d1701bc2050a


    Thanouxay or DKJ why your goverment still doing these thing??? LPDR officials
    kill Hmong - 3 new
    ------------------
    An elderly Hmong man and his son were allegedly killed when the forced
    repatriation of several dozen hilltribe people to Laos last week turned
    violent, according to rights advocates in the US. Yang Chao, 68, and his son
    Peng Chao, 21, were reportedly beaten by Lao officials because they tried to
    resist being put on boats to go - Tues 4 Oct 2011 11:52
    3 messages , 3 authors
    http://groups.google.com/group/soc.culture.hmong/t/1d6b3afc9ad84d0d


    Poj koob yawm ntxwv, a new Hmong religious cult??? - 1 new
    ----------------------------------------------------------
    their secretary is pretty. I am not sure her look can buy Hmong's interest!!! [
    link] - Tues 4 Oct 2011 21:16
    1 message, 1 author
    http://groups.google.com/group/soc.culture.hmong/t/21a35ab72e69d1db

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    misc.invest.canada
    http://groups.google.com/group/misc.invest.canada?hl=en

    misc.invest.canada@googlegroups.com

    Today's topics:

    * Global Markets Overview Today - 1 messages, 1 author
    http://groups.google.com/group/misc.invest.canada/t/408b9459c8fd36b1?hl=en
    * Canada top destination for business: Forbes. - 1 messages, 1 author
    http://groups.google.com/group/misc.invest.canada/t/23f2edabe2e8482e?hl=en
    * Canada Has Best Reputation In The World: Study - 4 messages, 4 authors
    http://groups.google.com/group/misc.invest.canada/t/69fab371341e90e1?hl=en

    ==============================================================================
    TOPIC: Global Markets Overview Today
    http://groups.google.com/group/misc.invest.canada/t/408b9459c8fd36b1?hl=en
    ==============================================================================

    == 1 of 1 ==
    Date: Mon, Oct 3 2011 4:28 pm
    From: Monitor


    Global Markets Overview Today

    Read more
    From : http://marketcall.net/2011/10/global-markets-overview-today/

    ==============================================================================
    TOPIC: Canada top destination for business: Forbes.
    http://groups.google.com/group/misc.invest.canada/t/23f2edabe2e8482e?hl=en
    ==============================================================================

    == 1 of 1 ==
    Date: Tues, Oct 4 2011 7:52 am
    From: abc

    Canada top destination for business: Forbes.

    POSTMEDIA NEWS OCTOBER 4, 2011

    Canada is the top global destination for business, according to a new
    Forbes ranking that touts this country's economic resilience as much of
    the world battles major financial woes.

    The top ranking marks a jump for Canada from fourth place in the ranking
    last year, which was due in large part to scoring higher in the tax
    category. Tax burden for this year's index in Canada has this country in
    ninth place, a stark contrast to 2010, when Canada placed 23rd in that
    category.

    The report noted the adoption of the HST in Ontario and British Columbia,
    which has since voted to eliminated the new tax structure.

    Canada was among the top tier of countries when it came to protecting
    investors and dealing with red tape, with the report saying it is
    relatively easy to start a new business in Canada.

    The Forbes ranking described Canada as "an affluent, high-tech industrial
    society in the trillion-dollar class," and said that Canada and the U.S.
    had many similarities, including its "market-oriented economic system,
    pattern of production and affluent living standards."

    It stressed that "while the U.S. is paralyzed by fears of a double-dip
    recession and Europe struggles with sovereign-debt issues," Canada has
    stayed cool in terms of its economy, with a jump of 3.1 per cent in 2010
    and more growth — at 2.4 per cent as forecast by the Royal Bank of Canada
    — expected in 2011.

    The Forbes ranking of business destinations factored in 11 criteria for
    more than 130 countries. Among them were: technology; corruption;
    personal and financial freedom; stock performance; property rights; and
    taxes.

    The United States was in 10th place.

    Top 10 countries for business:

    1. Canada

    2. New Zealand

    3. Hong Kong

    4. Ireland

    5. Denmark

    6. Singapore

    7. Sweden

    8. Norway

    9. United Kingdom

    10. United States

    Source: Forbes


    ==============================================================================
    TOPIC: Canada Has Best Reputation In The World: Study
    http://groups.google.com/group/misc.invest.canada/t/69fab371341e90e1?hl=en
    ==============================================================================

    == 1 of 4 ==
    Date: Tues, Oct 4 2011 8:27 am
    From: abc


    Monday, October 3rd, 2011

    Canada Has Best Reputation In The World: Study

    TORONTO – Canada has the best reputation in the world, says a study
    measuring public perceptions of 50 countries around the world, released
    on Tuesday.

    The Reputation Institute study measures the trust, esteem, admiration and
    good feelings the public holds towards 50 countries, as well as
    perceptions of peoples' quality of life, safety and attention to the
    environment.

    Results from 42,000 respondents worldwide ranked Sweden next, followed by
    Australia, Switzerland and New Zealand, the reputation management firm
    said.

    The countries scored high for their steady democracies, high economic
    output per capita, focus on active lifestyles, well developed political
    systems and perceived neutrality to international political upheavals.
    Being perceived as a safe country was the main driver of a country's
    reputation.

    Pakistan, Iran and Iraq were ranked lowest in the 50-country study, while
    the United States and China were ranked in the middle and lower tiers.
    Violence-stricken Mexico plunged from 24th place in 2009 to 35th place
    this year. The reputations of Greece, Ireland and Spain also dropped
    while Germany climbed five spots to number 11.

    == 2 of 4 ==
    Date: Tues, Oct 4 2011 6:02 pm
    From: Tony


    You seem to have forgotten 9/11 and the fucking pakis that took down the
    towers. They came through Canada meanwhile the rest of the pakis stay here
    all of them on welfare.

    abc wrote:

    > Monday, October 3rd, 2011
    >
    > Canada Has Best Reputation In The World: Study
    >
    > TORONTO � Canada has the best reputation in the world, says a study
    > measuring public perceptions of 50 countries around the world, released
    > on Tuesday.
    >
    > The Reputation Institute study measures the trust, esteem, admiration and
    > good feelings the public holds towards 50 countries, as well as
    > perceptions of peoples� quality of life, safety and attention to the
    > environment.
    >
    > Results from 42,000 respondents worldwide ranked Sweden next, followed by
    > Australia, Switzerland and New Zealand, the reputation management firm
    > said.
    >
    > The countries scored high for their steady democracies, high economic
    > output per capita, focus on active lifestyles, well developed political
    > systems and perceived neutrality to international political upheavals.
    > Being perceived as a safe country was the main driver of a country�s
    > reputation.
    >
    > Pakistan, Iran and Iraq were ranked lowest in the 50-country study, while
    > the United States and China were ranked in the middle and lower tiers.
    > Violence-stricken Mexico plunged from 24th place in 2009 to 35th place
    > this year. The reputations of Greece, Ireland and Spain also dropped
    > while Germany climbed five spots to number 11.

    --
    The Grandmaster of the CyberFROG

    Come get your ticket to CyberFROG city

    Nay, Art thou decideth playeth ye simpleton games. *Some* of us know proper
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    Very few. I used to take calls from *rank* noobs but got fired the first day
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    Bur-ring, i'll get this one: WHAT'S YOUR PROBLEM JERK!!? We're here to help
    you dickweed, ok, ok give the power cord the jiggily piggily wiggily all the
    while pushing the power button repeatedly now take everything out of your
    computer except the power supply and *one* stick of ram. Ok get the next
    sucker on the phone.

    Deirdre Straughan (Roxio) is a LIAR

    Hamster isn't a newsreader it's a mistake!

    El-Gonzo Jackson FROGS both me and Chuckcar

    I hate them both, With useless bogus bullshit you need at least *three*
    fulltime jobs to afford either one of them

    I'm a fulltime text *only* man on usenet now. The rest of the world downloads
    the binary files not me i can't afford thousands of dollars a month

    UBB = User based bullFROGGING

    Master Juba was a black man imitating a white man imitating a black man

    Using my technical prowess and computer abilities to answer questions beyond
    the realm of understandability

    Regards Tony... Making usenet better for everyone everyday

    This sig file was compiled via my journeys through usenet


    == 3 of 4 ==
    Date: Tues, Oct 4 2011 6:53 pm
    From: "M.I. Wakefield"


    "Tony" wrote in message news:4E8BACBF.8FEF3400@TheDeli.Sandwich...

    > You seem to have forgotten 9/11 and the fucking pakis that took down the
    > towers. They came through Canada meanwhile the rest of the pakis stay here
    > all of them on welfare.

    Tough to tell if you're a troll, a parody, or an idiot.

    The 9/11 hijackers were fifteen Saudis, two citizens of the United Arab
    Emirates, one Lebanese and one Egyptian; and none of them came through
    Canada.

    == 4 of 4 ==
    Date: Tues, Oct 4 2011 8:08 pm
    From: Greg Goss


    Tony <Tony@TheDeli.Sandwich> wrote:

    >You seem to have forgotten 9/11 and the fucking pakis that took down the
    >towers. They came through Canada meanwhile the rest of the pakis stay here
    >all of them on welfare.

    That's false. They were coming back and forth between Germany and
    Miami directly without ever bothering with Canada.

    It's one of the lies that the Americans tried on for size along the
    way.
    --
    "If the Gods Had Meant Us to Vote They Would Have Given Us Candidates" (Jim Hightower)


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