Will the RBA cut rates in Sept? - NAB
The RBA 2 October rate decision has many media commentators expecting a rate cut and the market. NAB: "The Minutes from September were softer than the post Board Statement when they added the line that 'The current assessment of the inflation outlook continued to provide scope to adjust policy in response to any significant deterioration in the outlook for growth.”' But we have not seen a 'significant deterioration in the outlook for growth' since early September. At this stage we'd say a cut is less a 50% chance."
London session ahead will bring all kinds of talks related to EZ debt crisis as Greece is urged by Troika to reduce budgets even more, Spain will release plenty of key data on coming Friday, and rumors on ESM to be leveraged up to € 2 Trillion make the rounds. In the economic agenda most important and almost only data to be released will be German IFO business climate at 08:00 GMT although the Netherlands final GDP will also be published 30 minutes earlier. European Parliament Committee hearing on Libor scandal will also take place today.
Read More
https://support.fxcc.com/email/technical/24092012/
UPCOMING EVENTS :
2012-09-24 06:00 GMT | United Kingdom. Nationwide Housing Prices (Aug)
2012-09-24 08:00 GMT | Germany. IFO - Business Climate (Sep)
2012-09-24 12:30 GMT | United States. Chicago Fed National Activity Index (Aug)
2012-09-24 14:30 GMT | United States. Dallas Fed Manufacturing Business Index (Sep)
FOREX NEWS :
2012-09-24 04:20 GMT | EUR/USD slips below 1.2950
2012-09-24 04:07 GMT | USD/JPY rally expected to resume – H.E.Wave
2012-09-24 03:50 GMT | AUD/NZD above 1.26 off fresh 5-month lows
2012-09-24 03:07 GMT | NZD/USD under pressure; Regional bourses weigh
EURUSD : 1.29472 / 1.29476
DAILY WEEKLY MONTHLY
1.3045 | 1.3012 | 1.2979
1.2927 | 1.2895 | 1.2860
SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technical Summary: Instrument trades below the moving averages and we expect the pair to extend its losses later on today. Main scenario: Without significant economic news announcement, further consolidation looks reasonable today. The price progress below the next support level at 1.2927 (S1) might expose next targets at 1.2895 (S2) and 1.2860 (S3). Alternative scenario: The upside movement is limited by next resistance level at 1.2979 (R1). Surpassing of this level might enable next target at 1.3012 (R2) and any further gain would then be limited by last resistance at 1.3045 (R3).
----------------
GBPUSD : 1.62171 / 1.62182
DAILY WEEKLY MONTHLY
1.6295 | 1.6245 | 1.6234
1.6197 | 1.6169 | 1.6141
SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technical Summary: GBPUSD trades in negative tone on the short term perspective however medium term bias remains positive. Main scenario: Our next targets for current retracement formation locates at 1.6197 (S1), break here is required to put focus on the next target at 1.6169 (S2). If the market gains momentum we suggest last support at 1.6141 (S3). Alternative scenario: Next resistance level is placed at 1.6234 (R1). Brake here might eventually activate bulls pressure and enable targets at 1.6245 (R2) and 1.6295 (R3).
-----------------
USDJPY : 78.043 / 78.047
DAILY WEEKLY MONTHLY
78.47 | 78.33 | 78.18
78.00 | 77.85 | 77.69
SUMMARY : Sideway
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Technical Summary: Neutral hourly studies suggest further consolidation development. We are not expecting significant volatility increase today however market is set for new targets achievement. Main scenario: If the price manage to stay below the next resistance at 78.18 (R1), we expect the see retest of our support at 78.00 (S1). Break below that level would suggest next targets at 77.85 (S2) and 77.69 (S3) in potential. Alternative scenario: Break above the 78.18 (R1)would enable higher target at 78.33 (R2) and any further rise would then be limited by 78.47 (R3).
Source: FX Central Clearing Ltd,( Forex Signals | ECN Forex Broker | Forex Trade | FXCC )