FX Day Trading

Spread Betting
           
FX Day Trading

FX Day Trading


A daily look at the FX markets from Moneycorp.com.

FX Day Trading - 03 February 2012

China considers aid for Euroland
  • US employment report today
  • And services sector PMIs

In the great tradition of discovering the blindingly obvious, researchers at three American universities have found that users of the social networking site Twitter don't have much of value to say.

A survey of 1,500 twits revealed they did not even bother looking at quarter of the tweets they received. Extrapolating the survey results across the Twitterverse, 130 million tweets a day are dismissed as pointless, two thirds of the total.

The researchers, who had expected that proportion to be nearer 95%, concluded that tweeters' appetite for banality is far greater than even the biggest cynic could have imagined.

It might be worthwhile to make a similar study of Euroland news items. Surely at least two thirds of them must be irrelevant, misleading or otherwise worthless.

The unending flow of official comments on the sovereign debt crisis is a shining example of what a Yorkshireman would describe as "talking a lot and saying nowt".

But there emerged yesterday what could turn out to be a nugget. In a joint press conference with the German Chancellor yesterday, Premier Wen Jiabao said China was "investigating and evaluating concrete ways in which it can, via the IMF, get more deeply involved in solving the European debt problem".

If that investigation and evaluation were to come up with a way for China to buy Italian bonds it would be a game-changer.

There was surprisingly little reaction to the Chinese premier's comment, perhaps on the I'll-believe-it-when-I-see-it principle. Having said that, there was minimal reaction to anything at all in the forex spread betting market on Thursday.

Financial spread betting investors might have been minded to do something about a monthly fall in Eurozone factory gate prices, which slashed the annual rate of increase by a percentage point to 4.3%, but they had no idea what it should be.

In daily spread betting news, the UK construction sector purchasing managers' index was a couple of points lower but at 51.4 it remained in the growth zone above 50, letting sterling off the hook.

Weekly US jobless claims were slightly fewer than forecast but today's non-farm payrolls number is far more important.

The lack of inspiration left to drift aimlessly, resulting in little net movement. All the major currencies start today within a couple of dozen ticks of yesterday's opening levels.

It would be a surprise to be able to say the same on Monday morning. There are not many statistics on today's list but they are important ones.

Services sector PMIs from Australia (51.9) and China (52.5 and 52.9) came out earlier and were refreshingly positive.

Germany, France, Euroland and Britain are all expected to deliver figures above 50 this morning, as is the US this afternoon.

Analysts also expect good news from the Bureau of Labor, with a 16th consecutive monthly increase in non-farm payrolls. The consensus guess is 150k new jobs.

The equivalent Canadian figure, released an hour and a half earlier, is estimated at 24k.

The better-than-expected US payrolls figure a month ago eventually sent the dollar lower, the logic being that an improving US economy meant less appetite for the safe-haven currencies.

That logic (if it is logic) should hold good today but don't bank on it.


Currency Trading and Spread Betting carry a high level of risk to your capital and you can lose more than your initial investment, they may not be suitable for all investors. Ensure you only speculate with money that you can afford to lose and that you fully understand the risks involved and seek independent financial advice where necessary.



Advert: FinancialSpreads.com - Live Prices, Charts, Indices, Equities,
Commodities, Forex and more >> Apply for an Account


The above content does not constitute investment advice, it is provided purely for information purposes and is delivered as a personal view of the writer. Neither the contributing company (or writer) nor Online-Spread-Betting.com accepts any responsibility for any use that may be made of the content.



'FX Day Trading', Article by Moneycorp, last update: 3-Feb-12


Related articles:

FX Day Trading, 3-Feb-12,
Daily FX Trading updates covering the influences on the key FX markets. Daily updates include key FX market movements and features the Dollar, Pound, Euro and Yen as well as...see: FX Day Trading

FX Day Trader, 2-Feb-12,
A daily review of the currency markets concentrating on the major Dollar, Yen, Euro and Pound Sterling markets...see: FX Day Trader

Forex Spread Betting: Optimism on EU Summit Boosts Commodity Currencies, 10-Jan-12,
Forex Spread Betting: A side effect of the optimism was a boost to the commodity dollars, all three of which had a good day. Elsewhere in forex spread betting, there was a moment of high excitement for the Swiss...see: Forex Spread Betting: Optimism on EU Summit Boosts Commodity Currencies

FX Spread Trading: US Dollar Rallies on Strong Employment Data, 9-Jan-12,
Forex Spread Betting: Online spread betting investors reacted positively to the US employment news and, for once, that did not mean selling the dollar in favour of riskier FX spread trading currencies. They bought...see: FX Spread Trading: US Dollar Rallies on Strong Employment Data

EUR/JPY Spread Betting Market Falls as UniCredit Seeks €7.5bn of New Capital, 6-Jan-12,
Forex Spread Betting: Not surprisingly the euro had to endure another day of retreat. EUR/USD spread betting market conceded a cent and a half, EUR/JPY dropped three quarters of a yen whereas GBP/ EUR rose half a ...see: EUR/JPY Spread Betting Market Falls as UniCredit Seeks €7.5bn of New Capital

European PMIs Boost EUR/CAD FX Spread Betting Markets, 4-Jan-12,
Forex Spread Betting: Beyond the PMIs and employment numbers, investors were not given much to play with. Consequently, exchange rate movements were moderate. EUR/USD and EUR/CAD each gained ...see: European PMIs Boost EUR/CAD FX Spread Betting Markets

Spread Trading Investors Buy US Dollar in Search for Safe Haven, 3-Jan-12,
Forex Spread Betting: Spread trading investors are not yet unduly concerned about the risks faced by the US dollar. As far as most are concerned, the dollar and the yen represent a safe alternative to an unstable...see: Spread Trading Investors Buy US Dollar in Search for Safe Haven

Spread Betting Markets Remain Cautious Despite Failed Italian Bond Auction, 30-Dec-11,
Forex Spread Betting: Movement was generally limited to half a cent and there was no apparent effort to repeat the drama of Wednesday, when the GBP/USD and the EUR/USD took an unexpected ...see: Spread Betting Markets Remain Cautious Despite Failed Italian Bond Auction

Forex Spread Betting: ECB LTRO Causes Sterling to Fall Two Cents In Two Hours, 29-Dec-11,
Forex Spread Betting: In FX spread trading markets, Sterling went down at the same time as the euro fell, falling by two cents against the US dollar in less than two hours. It lost about quarter of a cent to the euro...see: Forex Spread Betting: ECB LTRO Causes Sterling to Fall Two Cents In Two Hours

Christmas Holidays Help Euro to Hold Up Against the US Dollar, 28-Dec-11,
Forex Spread Betting: In FX spread trading, the euro's position against the US dollar, the pound and the franc is almost unchanged from Friday morning. The story is similar for the Australian, Canadian and...see: Christmas Holidays Help Euro to Hold Up Against the US Dollar



FX Daily Trading Index

FX Day Trading Index
Index of the Moneycorp Daily Trading updates...see Index.






Trading News
Looking to improve your trading results? Get free trading tips and trading analysis as well as the latest trading offers » Trading News.



FinancialSpreads.com - The Financial Spread Betting Website
FinancialSpreads.com - Forex , Commodities, Indices, Equities
Trade the tightest FTSE spreads available² & find a range of benefits at: FinancialSpreads.com

FinancialSpreads.com - tight spreads Constantly tight spreads: eg Brent Crude 5 ticks, Rolling S&P 4 ticks
FinancialSpreads.com - Tax Free Profits (3) Tax Free Profits³
FinancialSpreads.com - £1 per point £1 per point: Start trading £1 per point/tick & an initial deposit of £30
FinancialSpreads.com - Forex, Commodities, Indices, Equities Multiple markets: Forex , Commodities, Indices & Equities
FinancialSpreads.com - The Financial Spread Betting Website


Risk Warning - Spread betting carries a high level of risk to your capital & you may lose more than your initial investment. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seek financial advice where necessary & make sure spread betting meets your investment objectives.


(1) The FTSE Rolling Daily Spread is 1 tick during market hours & 4 ticks out of hours. 1 Tick is defined as a full FTSE point. See our Product Information for more details. (2) The above information is correct at time of writing. (3) Tax Law can change.

FinancialSpreads.com is a trading name of London Capital Group Ltd which is authorised & regulated by the Financial Services Authority (FSA). Registered address: is 4th Floor, 12 Appold Street, London EC2A 2AW. All information correct at time of publication.

   
Risk Warning: Spread Betting carries a high level of risk to your capital and you can lose more than your initial investment, it may not be suitable for all investors. Ensure you only speculate with money that you can afford to lose and that you fully understand the risks involved and seek independent financial advice where necessary.

Disclaimer: Online-Spread-Betting.com does not endorse the information and analysis available on this site. It is provided purely for information purposes and is delivered as a personal view of the writer. Under no circumstances is the information hereon to be used or considered as, an offer to sell, or a solicitation of any offer to buy. The website content does not constitute investment advice and neither the individual contributor nor Online-Spread-Betting.com accepts any responsibility for any use that may be made of the content.

* Tax Free Trading: Tax law is subject to change. It may also differ if you pay tax in a jurisdiction outside the UK.

Spread Betting Firms
Capital Spreads
City Index
CMC Markets
ETXCapital
Financial Spreads
GFT
IG Index
Spreadex
Spread Betting Offers
Spread Betting News
Daily Spread Bet Tips
Daily Market Analysis
Daily Shares News
Daily FX Trading
Daily Blog
Daily Market Data
Daily Spread Betting
Trading News
Spread Trading Strategy
Spread Betting
Financial Spread Betting
Financial Fixed Odds
Financial Glossary
Trading Directory
© Copyright Online-Spread-Betting.com 2007-2012. All rights reserved.