Monday, June 3, 2013

Weekly Forex Market Analysis for the week of June 3rd to June 7th, 2013

Market Analysis – Gold struggling to stay above $1,400, S.A. Rand continues to weaken, and the Euro stages another small rally



In last week’s session we saw some exciting movement during the end of the week with GOLD rallying to $1,420 to only selloff by the end of the week to $1,390ish. The commodity is struggling to keep an upward trend. The reason it may be challenged can be attributed to the fact that as the stock markets get stronger the reallocation of monies from GOLD are being funneled back to stocks for higher returns. Thereby resulting in a selloff in GOLD.

The real story of the week is the South African Rand, its major escalation last week to above 10 is a major concern for the currency. We suggest strongly following this currency and waiting for a major confirmation before shorting the currency.

In other news, the Euro staged a late week rally, and holding above 1.30 by week’s end. This maybe a sign that the EURO isn’t as weak as previously anticipated. Keep in mind that there are a few more economic obstacles the currency still needs to see through before we can say that it’s back on track for a recovery.

Economic News for the week of June 3rd to June 7th, 2013

AUD (2:30AM GMT) –
Retail Sales m/m
GBP (9:30AM GMT)–
Manufacturing PMI
USD (3:00PM GMT) –
ISM Manufacturing PMI
AUD (5:30AM GMT) –
Cash Rate
RBA Rate Statement
GBP (9:30AM GMT) –
Construction PMI
CAD (1:30PM GMT) –
Trade Balance
USD (1:30PM GMT) –
Trade Balance
AUD (2:30AM GMT) –
GDP q/q
GBP (9:30AM GMT) –
Services PMI
USD (1:15PM GMT) –
ADP Non-Farm
Employment Change
CAD (1:30PM GMT) –
Building Permits m/m
USD (3:00PM GMT) –
ISM  Non –
Manufacturing PMI
AUD (2:30AM GMT) –
Trade Balance
CHF (8:15AM GMT) –
CPI m/m
EUR (Tentative) –
Spanish 10y Bond
GBP (10:00PM GMT) –
Asset Purchase Facility
Official Bank Rate
GBP (Tentative) –
MPC Rate Statement
EUR (1:30PM GMT) –
ECB Press Conference
USD (1:30PM GMT) –
Unemployment Claims
CAD (3:00PM GMT) –
Ivey PMI
CAD  (1:30PM GMT) –
Employment Change
Unemployment Rate
USD (1:30PM GMT) –
Non-Farm Employment Change
Unemployment Rate







Technial Trading Gameplan for the week of June 3rd to June 7th, 2013






R1:  1.30282
R2:  1.30426
R3:  1.30563
S1:  1.30075
S2:  1.29986
R3:  1.29860





R1:  100.609
R2:  100.716
R3:  100.075
S1:  100.289
S2:     99.787
R3:   97.128




R1:  10.08695
R2:  10.16472
R3:  10.26734
S1:  10.01308
S2:    9.97911
R3:    9.84712





R1:  $1,399.38
R2: $1,410.30
R3:  $1,417.05
S1:  $1,391.63
S2: $ 1,388.97
R3:  $1,384.72

S & P Futures



R1:  1,640.05
R2:  1,646.48
R3: 1,651.24
S1:  1,626.22
S2:  1,625.34
R3: 1,621.58




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