END OF YEAR ANALYSIS FOR EUR/USD:::STRONG BULLISH TARGETS RESPECTIVELY DEFINED

FUNDAMENTAL BEAM

EUR/USD enjoyed the low liquidity to shoot higher, but this was short lived. Retail and manufacturing PMI’s, Spanish Unemployment Change and M3 Money Supply are the main market movers this week. Here is an outlook on the major events at the year’s end and the beginning of 2014 and an updated technical analysis for EUR/USD. 

END OF YEAR ANALYSIS FOR GBP/USD:::MARKET PRICE TARGET CLOSES UP ON WAVE 3 OR III

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GBP/USD made the most of low liquidity in holiday markets last week, gaining about 150 points. The pair closed at 1.6476. This week’s highlights are Manufacturing and Construction PMIs. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.
The pound managed to post sharp gains last week despite strong US numbers. Unemployment claims fell sharply and New Home Sales beat the estimate, but this wasn’t enough to keep the dollar from taking a tumble.

END OF YEAR ANALYSIS FOR USDJPY:::BULLISH PRICE TARGET ESTIMATED AT 107.45

 FUNDAMENTAL BEAM

The yen had little to cheer about over Christmas, as USD/JPY jumped over 100 points last week, closing above the 105 level. There are no Japanese releases this week. Here is an outlook on the major market-movers and an updated technical analysis for USD/JPY.

It was a busy week for Japanese releases. Consumer spending and manufacturing numbers were weak, but retail sales looked sharp and inflation indicators continue to point upwards. In the US, unemployment claims and housing data late in the week helped the dollar move higher and close the week above the 105 line.

END OF YEAR ANALYSIS FOR NZD/USD:::LOOKING FORWARD TO COMPLETING A WAVE LEG Y AT 0.7938

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The New Zealand dollar  lost ground for a second week in a row, falling to long term uptrend support. In the first week of the holidays, can it stabilize? Here is an analysis of fundamentals and an updated technical analysis for NZD/USD.

The announcement about QE tapering in the US gave a boost to the US dollar, and no currency was spared. The big decision overshadowed positive data from New Zealand: the economy grew by 1.4% in Q3, beating predictions of 1.1%. The trade balance figure, which was released ahead of time,
showed a surplus. It is the first such surplus for the month of November in 22 years. Trade with China now tops trade with Australia. Credit card spending also showed strong consumer sentiment,

END OF YEAR ANALYSIS FOR USD/CAD:::MARKET PRICE STILL SKY ROCKETING TOWARDS WAVE III LEG

FUNDAMENTAL BEAM

USD/CAD posted modest gains last week, as the pair closed just above the 1.07 line. This marked the first time the pair has closed the trading week above 1.07 in over four years. There are no releases this week, as we begin 2014 on a quiet note. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
The only Canadian release this week, GDP, beat the estimate for a third straight month. In the US, strong Unemployment Claims and New Home Sales releases helped the US dollar gain ground late in the week at the expense of the Canadian currency.

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EUR/USD WEEKLY OUTLOOK COME DEC 9TH- 13TH; MARKET PRICE REACHING FOR TECHNICAL RESISTANCE

FUNDAMENTAL BEAM

EUR/USD enjoyed the calm in Europe to push higher. German Trade Balance, Industrial production, as well as the ECOFIN and Eurogroup Meetings are the main highlights of this week. Here is an outlook on the major market-movers awaiting us ahead.

Last week, the ECB left policy unchanged in line with market forecast. The ECB has maintained ultra-low rates  ECB President Mario Draghi announced in the press conference that cheap money will continue to flow, and key rates will remain low for an extended period of time. The ECB even marginally upgraded its growth forecast for 2014. Will the Eurozone succeed in enjoying a real recovery? In the US, Non-Farm Payrolls exceeded expectations and seemingly enable QE tapering. However, the jury is still out.

GBP/USD WEEKLY OUTLOOK COME DEC 9TH- 13TH; IMMINENT BEARISH MARKET SET TO BEGIN AFTER RANGE BOUNCE

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After posting weekly gains for four consecutive weeks, GBP/USD took a break and posted modest losses last week. The pair closed the week at 1.6347. This week’s key release is Manufacturing Production. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.

British PMIs were a mix last week, and there were no surprises from the BOE, which kept interest rates and QE levels steady. In the US, Unemployment Claims and Non-Farm Payrolls looked sharp.

Summary of key events during the week

USD/CAD WEEKLY OUTLOOK COME DEC 9TH- 13TH; BULLISH GAS STILL FLARRING FOR HIGHER HIGHS- TRADERS ENJOYING MODEST PROFIT

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USD/CAD was almost unchanged on the week, as the Canadian dollar closed the week at 1.0633. The upcoming week has a very light schedule, with just three releases. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.

Both the US and Canada posted sharp employment numbers last week. In the US, Unemployment Claims continued to drop, while Non-Farm Payrolls remained strong and easily beat the estimate. North of the border, Canadian Employment Change rose nicely, climbing to a three-month high.

Summary of key evens during the week

NZDUSD WEEKLY OUTLOOK COME DEC 9TH- 13TH; MARKET PRICE FIRES UP TOWARDS TECHNICAL RESISTANCE

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The New Zealand dollar has been in recovery mode, rising despite the drops seen within its commodity currency peers. The highlight of the upcoming week is the rate decision. Here is an outlook for the events moving the kiwi, and an updated technical analysis for NZD/USD.

New Zealand reported a big jump in its term of trade: 7.5% in the third quarter. The figure joins previous positive figures and enable the stabilization of the pair. In the US, the “to taper or not to taper” question remains intact. In the US, Non-Farm Payrolls came out better than expected and provide 5 reasons for QE tapering.

Summary of key events during the week

USD/JPY WEEKLY OUTLOOK COME DEC 9TH-13TH; BEARISH PRICE IMMINENT FOR A WAVE LEG 2 COMPLETION

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USD/JPY posted modest gains last week, as the pair closed at 102.89. The upcoming week is busy, with 10 events. Here is an outlook on the major market-movers and an updated technical analysis for USD/JPY.

Japanese events were uneventful last week. In the US, employment numbers looked very sharp, led by a strong Non-Farm Payrolls.

A summary of key events during the week