Forex – Usd/jpy Slips But Remains Close To 6-month Highs

Technical or Fundamental? Short-term or Long-term? Take our Trader Survey and find out. Ironically, we are heading into the most sluggish trading month of the year as the markets are facing an increased threat of volatility. Historically, December is both the most restrained month for activity and the most prolific for risk returns – conditions that are already painfully engrained in our markets. Yet, technicals are increasingly setting up patterns that project larger breakouts.

A separate report showed that the unemployment rate in the single currency bloc ticked down to 12.1% last month, from 12.2% in September. Analysts had expected the unemployment rate to remain unchanged in October. The data came after a report showed that German retail sales fell 0.8% last month, confounding expectations for a 0.5% rise, after a 0.2% slip in September. In France, consumer spending ticked down 0.2% in October, disappointing expectations for a 0.2% rise, after a 0.1% fall the previous month. The euro was higher against the pound, with EUR/GBP adding 0.08% to hit 0.8330. Also Friday, data showed that net lending to individuals in the U.K.

By Ilya Spivak November 28, 2013 3:09 AM 0 shares To receive Ilya’s analysis directly via email, please SIGN UP HERE Talking Points A Shooting Star candle below channel resistance hints at a turn lower ahead Near-term support is at 1.3485 (23.6% Fib); below that aims for 1.3407 (38.2% Fib) Resistance is in the 1.3600-12 (channel bottom, Nov 27 high); we continue to hold short Confirm your chart-based trade setups with the Technical Analyzer . Daily Chart – Created Using FXCM Marketscope 2.0 — Written by Ilya Spivak, Currency Strategist for Contact and follow Ilya on Twitter: @IlyaSpivak For live market updates, visit the Real Time News Feed DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from FXCM . Finance Trading How the new law raises prices and limits medical choices. The Wall Street Journal

So, Draghi is likely to emphasize that the ECB is considering more moves in the near future, hinting about setting a negative deposit rate already in January. A hint would hurt the euro, and a negative deposit rate would have a much stronger effect on the euro than cutting the lending rate. US GDP (second release): Thursday, 13:30. According to the first release, U.S. gross domestic product increased by 2.8% in Q3 on an annual basis.

It was on pace for a gain of 4.1 percent in November, the largest monthly rise since January. Analysts expect the yen to continue to weaken on expectations of loose monetary policy in Japan. By contrast, the Federal Reserve is expected to begin reducing its bond-buying stimulus for the U.S. economy, most likely early next year. “The downtrend in the yen is definitely still in place …


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