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There was a fair bit going on, on Friday although most currencies ended up not too far removed from where they started. The beginning of the coming week looks as though it could be a similar story, although the PMI’s may provide some excitement today, and follow on from the improved w/e China Mfg data. The action revs up on Tuesday with the final RBA Interest Rate Meeting/ Press Conference until February, and will be followed by the ECB and BOE, who both meet on Thursday, which will also see the US GDP/Retail Sales. On Friday we get the Non Farm Payrolls, so it could be quite a busy week.
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Read the full FXCharts Weekly Outlook here or scan the market summary below.
|Res||1.3625||1.3640||1.3650||The Euro was mildly lower in thin trade on Friday after the EU CPI data turned out to be a bit of a non event, …read more|
|Res||102.60||102.85||103.00||Dollar Yen reached the May highs at 102.53 but was unable to carry on, ..read more|
|Res||1.6385||1.6400||1.6450||Sterling finally reached its Jan 2, 1.6381 high Friday, although mixed UK data saw it top out at 1.6383 …read more|
|Res||0.9070||0.9100||0.9120||US$ Chf recovered from yet another test of the base of the recent channel, on Friday heading down to 0.9027, the 61.8% Fibo support of the rise from 0.8890/0.9249, before a bounce …read more|
|Res||0.9140||0.9155||0.9185||The Aud took a knock after the rejection of the ADM/Graincorp deal by the Federal Government…read more|
|Res||0.8135||0.8165||0.8195||The Kiwi headed lower on Friday to as low as 0.8084 before a decent bounce later in the session …read more|
|Commodities / Indices|
|ASX SPI: 5320||Outlook|
|Res||5335||5350||5365||The SPI took a hit following the failure of the Graincorp takeover to get Mr Hockey’s approval..read more|
|S+P Futs: 1803||Outlook|
|Res||1805||1810||1815||It was a quiet end to the week for the S+P and for the time being it is stuck between 1800/1810. …read more|
|DJI Futs: 16085||Outlook|
|Res||16100||16160||16200||The Dow is in the same boat as the S+P and would appear set to drift slowly higher …read more|
|Res||1258||1270||1278||Gold has tracked sideways for a day or two and is hinting that it may have put in a short term base at 1226…read more|
|Res||20.30||20.50||20.90||Like Gold, Silver appears as though it might be trying to put in a near term base, …read more|
|Res||93.00||93.50||94.00||WTI held onto the 92.00 support on Friday and actually spiked higher in thin conditions to as high as 93.87…read more|
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