Trading Daily Outlook – Fri Nov 16 2012 – 7:23 am – SimplyTrader.Biz/daily

16 November 2012

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Perfect for both beginners and professionals in FOREX trading, this daily video gives you in one place: Currency trends, Currency rates, Pairs analysis (EUR/USD, GBP/USD, AUD/USD, EUR/GBP, USD/CAD, USD/JPY ), Flash market news, Flash market video news and tips.. and even more …

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Today’s Video Flash News: Eurozone GDP out today
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Today’s Outlook – http://SimplyTrader.Biz/news : Japan Dissolves Parliament, Yen Sold
U.S. Dollar Trading (USD) stocks sank overnight in the US with politicians bringing attention to the looming fiscal debt crisis bickering over how to solve the issue. Released FOMC Minutes suggest most members want to continue asset buying after op-twist finishes. US data missed expectations forecast at -0.3% vs. -0.2% previously. Looking ahead, Weekly Jobless Claims forecast at 375k vs. 355k previously. November NY FED forecast at -6.7 vs. -6.16 previously. Also October CPI forecast at 0.1% vs. 0.6% previously. The Euro (EUR) EUR/USD was the strongest currency in the market overnight able to ignore risk aversion from US equities losses. Day highs near 1.2780 traded after the FOMC minutes were released. The USD weakened post minutes but this didn’t last long however and we selling resumed in Asia Thursday. EUR/JPY was a major mover higher as the Yen collapsed on political risks. The Sterling (GBP) was sold as risk aversion crept higher in the US and stock losses accelerated. UK Data…

Weekly’s Outlook – http://SimplyTrader.Biz/weeklynews : Eurogroup to Decide Greece Fate
The EUR/USD fell throughout the week as the US fiscal cliff crisis dominated the headlines and risk aversion spread throughout the markets. Greece’s fate is expected this week as the Eurogroup meeting is scheduled to discuss the troika’ report on Greece’s commitment to austerity reforms. Obama winning a 2nd term had a brief positive impact for the Euro with a loose Federal Reserve more likely under a Democrat. USD/JPY was under pressure given the large drop in US Treasury Yields after Obama’s victory. Support was found though in the lower Y79 region and with US data picking up the topside could still be in play. A bigger factor could come from the Japanese side with the Government ramping up pressure on the BOJ to further stimulate the economy and out of deflation. Currency Movement last week EUR/USD was down -0.97% closing at 1.2710, after opening the week at 1.2833. USD/JPY was down -1.27% closing at 79.46, after opening at 80.47. GBP/USD was down -0.78% closing at 1.5896 after…

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