Real Time Traders Insight
Portugal awoke to the news that credit ratings agency Moody’s Investor Service downgraded its sovereign debt to junk status, with yields on long term bonds over 10 percent. The news led to a rally in US Treasuries and US dollar, with the American currency gaining ground against 15 out of 16 major counterparts. Crude oil and gold followed in the rally, rising 2.1% and 2.0%, respectively, while copper fell.
European traders continue to worry that the crisis in Greece has yet to find a sustainable solution over the long term and may yet spread to countries like Ireland and Spain. Retail sales in the euro zone dropped by 1.1% in May, more than expected, while the European Union’s service sector fell to an eight-month low. In Asian markets, shares fell as a major investor sold shares in two major banks against a backdrop of a cooling China economy.
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Trade the News: Today’s Key Economic Events
6:00am JPY — Leading Indicators
8:00am GBP — Halifax HPI (Monthly)
10:00am EUR — Final GDP (Quarterly)
3:00pm USD — ISM Non-Manufacturing PMI
Currency Hot Pick of the Day (85% Return)
USDCHF 
Downward trend
Advanced Traders
The Swiss Franc had a brief rally against the USD and EUR pairs on news of Moody’s downgrade of Portugal’s credit rating, before losing 70 pips to close 0.8400 .
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Market Update
The Reserve Bank of Australia Tuesday kept its key cash rate on hold, as widely expected, but economists read enough into the central bank’s statement to continue to flag higher interest rates later in the year.
The RBA kept its key cash rate on hold at 4.75%, a level it has been at since November, saying that it judged that the current mildly restrictive stance of monetary policy remained appropriate.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 04:30 AUD RBA Rate Statement
- 08:30 GBP Manufacturing PMI
- 10:00 GBP CBI Realized Sales
- 14:00 USD Factory Orders m/m
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Currency Hot Pick of the Day (85% Return)
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 Forex Binary Options
The USDCHF is now in a strong downtrend.
Advanced Traders: Due to continued USD weakness against most currencies, the Swiss Franc has been most profitable and continues a perfect trend.
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Market Update
Silver prices fell sharply in a matter of minutes during early Monday trading in Asia, though some of the plunge may have been exaggerated by reportedly thin volume.
At one point early Monday, the price dived 12% within 11 minutes, which put the intraday high at $48.15 an ounce before a plunge to $42.21.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 01:30 AUD HPI q/q
- 07:15 CHF Retail Sales y/y
- 13:00 GBP BOE Gov King Speaks
- 14:00 USD ISM Manufacturing PMIs
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Index Hot Pick of the Day (85% Return)
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 Index Binary Options
The S&P500 index is now in an uptrend.
Advanced Traders: The S&P500 index broke above the 1335 resistance level and has been very bullish since. The trendline has been virtually intact ever since.
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Market Update
Microsoft Corp. on Thursday posted a sharp increase in quarterly profit, as the company saw improving sales at the divisions that include its Office suite of software and Xbox videogame system, though it also experienced declining sales of its flagship Windows software.
Microsoft said its fiscal third-quarter net income rose to $5.2 billion, or 61 cents a share, from $4 billion, or 45 cents a share, in the same period a year earlier. Revenue for the period ended March 31 rose 13% to $16.4 billion.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 09:00 EUR Unemployment Rate
- 12:30 USD Core PCE Price Index m/m
- 12:30 CAD GDP m/m
- 16:30 USD Fed Chairman Bernanke Speaks
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Index Hot Pick of the Day (85% Return)
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 Index Binary Options
The S&P500 index is now in an uptrend.
Advanced Traders: The S&P500 index broke above the 1335 resistance level and has been very bullish since.
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Market Update
While defending the success of the $600 billion bond purchase program, Bernanke spoke against the possibility of a third round of quantitative easing, saying the trade-offs are “getting less attractive at this point.” He said inflation has picked up and inflation expectations are a bit higher, so it’s not clear that there can be “substantial” improvement in payrolls without some additional inflation risk.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 04:31 JPY Overnight Call Rate
- 07:55 EUR German Unemployment Change
- 12:30 USD Unemployment Claims
- 14:00 USD Pending Home Sales m/m
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Currency Hot Pick of the Day (85% Return)
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 Forex Binary Options
The GBPJPY is now in a downtrend.
Advanced Traders: The GBPJPY is finding strong support at the 134 level which is the 50-day-SMA (green line).
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Market Update
Gold futures fell Tuesday to end an eight-session winning streak as a climb in consumer confidence and upbeat earnings reports helped feed gains in the U.S. stock market.
Prices, however, staged a partial recovery to finish above $1,500 an ounce.
Gold for June delivery GCM11 reached $1,503.50 an ounce on the Comex division of the New York Mercantile Exchange.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 08:30 GBP Prelim GDP q/q
- 12:30 USD Core Durable Goods Orders m/m
- 16:30 USD Federal Funds Rate
- 23:30 JPY Tokyo Core CPI y/y
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Currency Hot Pick of the Day (85% Return)
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 Forex Binary Options
The USDCHF is now in a downtrend.
Advanced Traders: The USDCHF has been in a great descending channel chart pattern, reflective of the USD weakness relative to almost all currencies.
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Market Update
Gold and silver retreated in Asian trade on Tuesday, with gold slipping below the $1,500 level, while silver briefly plunged more than 5%. Silver for May delivery SIK11 -2.56% fell 4.4% to $45.06. In Monday’s session on Comex division of the New York Mercantile Exchange the metal touched a high of $49.82 an ounce and ended at $47.149 an ounce, a rise of $1.09, or 2.4%.
Silver futures gained 8.2% last week, their largest weekly gain since early December.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 06:00 CHF UBS Consumption Indicator
- 10:00 GBP CBI Industrial Order Expectations
- 14:00 USD CB Consumer Confidence
- 23:50 JPY Retail Sales y/y
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Currency Hot Pick of the Day (85% Return)
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 Forex Binary Options
The EURJPY is now in an downtrend.
Advanced Traders: The EURJPY is finding resistance on the descending trendline. Word on the Street is that further monetary policy easing by the BOJ will further weaken the YEN. Some analysts target 150 EURJPY. In the meantime the EURJPY pulled back to 119 on strong resistance at the time of writing.
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Market Update
On Wednesday Apple blew away all of Wall Street’s second fiscal-quarter estimates with 95% earnings growth for the period. The company then asked investors to brace for its prediction of a 7% sequential decline in revenue for the June quarter. The company predicted $23 billion in revenue for the quarter, compared with the $23.8 billion expected by analysts.
Apple’s shares were up nearly 4% in after-hours trading following the report and conference call, suggesting that investors essentially are ignoring what has become a common move for Apple.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 06:00 EUR German PPI m/m
- 08:30 GBP MPC Meeting Minutes
- 14:00 USD Existing Home Sales
- 14:30 USD Crude Oil Inventories
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Currency Hot Pick of the Day (85% Return)
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 Forex Binary Options
The EURJPY is now in an uptrend.
Advanced Traders: The EURJPY is finding support on an ascending support line, with support now at 120.
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Market Update
Morgan Stanley on Wednesday upgraded HSBC Holdings PLC to overweight from equal-weight, citing improving momentum for the bank in Asia.
Morgan Stanley said HSBC is better placed than its peers in terms of both deposits and capital, which should help it to keep gaining market share.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 06:00 EUR German PPI m/m
- 08:30 GBP MPC Meeting Minutes
- 14:00 USD Existing Home Sales
- 14:30 USD Crude Oil Inventories
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Currency Hot Pick of the Day (85% Return)
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 Forex Binary Options
The GBPJPY is now in a downtrend.
Advanced Traders: The GBPJPY is maintaining a descending channel chart pattern. Now finding support on the 50-day-SMA (green line).
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Market Update
Saudi Arabia has cut output on the belief the market is oversupplied.
Crude for May delivery slipped 73 cents or 0.7%, to $108.82 early Monday in electronic trading on the New York Mercantile Exchange.
On Sunday, Saudi Arabia’s oil minister reportedly said the nation cut its oil output by around 800,000 barrels a day in March, due to oversupply.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 12:30 CAD Foreign Securities Purchases
- 14:30 USD FOMC Member Fisher Speaks
- 16:30 USD FOMC Member Fisher Speaks
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Commodity Hot Pick of the Day (85% Return)
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 Commodity Binary Options
Natural Gas futures are now in an uptrend.
Advanced Traders: Natural Gas Futures are now creating a pivot chart pattern, similar to a bull flag chart pattern but with a descending resistance line. This after creating a bullish double bottom chart pattern last week.
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