Jan 23rd Morning session with FX Insight Team

 This morning Chief Al shared a couple of scalp trades for avg +12 profits in Usd/Cad. Alvaro Mendez then had question and answer session with all traders in our LIVE TRADERS SHOW.

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Wall Street Eyeing Catalysts After Last Week's Heady Gains

With the euphoria over last week's budget deal slowly ebbing, Wall Street is apparently on the look out for sound catalysts that could help sustain the momentum. Nevertheless, the precarious fiscal situation despite the budget deal, the impending corporate reporting season and global economic risks could make traders edgy, as reflected by the U.S. index futures, which point to a slightly lower opening.

Wall Street Eyeing Catalysts After Last Week's Heady Gains

Power Central Bankers

AFTER a general election in Japan and another EU summit in Brussels, our correspondents discuss the ever-increasing power of central bankers -The Economist

Federal Reserve Press conference Highlights

---------BERNANKE COMMENTS------------

Fed's Bernanke says that future asset buys depend on substantial improvement in labour market Says: - FOMC can modify the programme as appropriate. - Fed intends to be flexible on the pace of purchases
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 Fed's Bernanke says reaching one of the thresholds will not automatically trigger tightening Says: - Goal of asset purchases is to increase near term economic momentum. - Decisions to modify asset purchases and rate increases are tied to different criteria.
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Fed says 13 officials would prefer first rate hike in 2015 (Prev. 12); 1 in 2016 (Prev. 1) Says: - Cuts forecast for 2013 GDP growth, cuts forecast for 2013 unemployment rate, cuts forecast for 2013 core inflation. - Cuts forecast for 2014 GDP growth, raises forecast for 2014 unemployment rate, cuts forecast for 2014 core inflation. - Sees long-run jobless rate at 5.2% – 6.0% (Prev. 5.2% – 6.0%), GDP growth at 2.3% (Prev. 2.3% – 2.5%).
 ---------------

Fed's Bernanke says that future asset buys depend on substantial improvement in labour market Says: - FOMC can modify the programme as appropriate. - Fed intends to be flexible on the pace of purchases. - No single indicator gives full assessment of labour market.
 ----------------

Fed's Bernanke says FOMC may increase stimulus in fiscal cliff event Says: - Sustainable long run unemployment rate could be less than 6%


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Why is gold selling off?

Why is gold selling off? Gold recently dropped below the psychologically important $1,700 level.

BERNANKE BEGINS

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/12/20121205_greenpants.jpg

Clueless, Ignorant, Dangerous Leaders

Rogers is bullish China long-term but buying Chinese stocks only selectively...
 Faber sees under-the-surface weakness in US equities and while central banks could print us to Dow 30,000; gold and other commodities will be astronomical by then...
 Faber is bearish AAPL, believes its a bubble - but too dangerous to short... Both are uber-bearish central-bankers and politicians...

  Marc Faber: "Both candidates are clueless and completely artificial..." 
 Jimmy Rogers: "It's worse than clueless, because they think they know what they're doing.. and so they are dangerous! If they were just clueless and looked out the window, we wouldn't have a problem, but they think they have the solution - but their solutions are what's making the situation worse...
" Marc Faber: "That is precisely the point. It is very dangerous to have ignorant people believing that they know something!"

YES... SILVER is a Buy Now

Commenting on the outlook for silver, Silver Wheaton’s CEO, Peter Barnes, stated in a CNBC interview that he sees the silver price reaching $50 per ounce in the next two to three years, but that it also could happen sooner. Furthermore, Barnes predicted the price of silver will be “extremely high” over at least the next threefive years.

PETER SCHIFF VIDEO OF DAY

 

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Euro Rises Against Yen Before ECB; Volatility Wanes

Update on Eur/Jpy Fx insight shares

The EURJPY has been in a sideways up and down market of late/even today. Earlier the price fell toward the 38.2% line at 97.841 (of the move up from August 10th) and floor support at 97.956 (see chart above). The low came in at 97.877. The price rotated higher from there and over the last 7 bars, the close has remained above the 100 hour MA (blue line in the chart above). This is the line in the sand for buyers now. On the topside, the last 4 days has found willing sellers against the 98.807 level. Needless to say, a move above this level will now be eyed by the longs from below. Get above, and the 99.02 and the 99.164 (high from last week) become the next targets (see chart above). full article  

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Germany held a debt sale on Monday

German Chancellor Angela Merkel, who continues to strongly advocate for a Eurozone with Greece remaining as a member, warned to coalition peers over the weekend to “weigh their words” with regards to a possible depart from Greece.

Merkel was quoted on an ARD television as saying that any remarks on Grexit were damaging, as the crisis reaches a “decisive phase.” The comments follow the plea by a leader of her Bavarian Christian Social Union governing partner, who called for Greece to detach itself from the Euro area.

Alexander Dobrindt, the CSU’s general secretary, told today’s Bild newspaper, that Greece is expected not to be a part of the 17-nation euro area next year. ... link to FULL ARTICLE

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AUD/JPY continues to downtrend in the Asia-Pacific

After losing ground for a fourth consecutive day on Monday, AUD/JPY continues to downtrend in the Asia-Pacific, having reached as low as 81.22, a price not seen since July 26. Broad JPY strength is behind the move lower after Japanese exporter sales at the Tokyo fix.

Technically speaking, AUD/JPY has extended below the 200-day EMA (valued at 81.64 today) and below the 81.50 Fibonacci retracement zone of the decline from 88.64 to 74.48. At the time of writing, the cross is quoted at 81.35, recording a 0.3% loss so far this Tuesday... LINK TO FULL ARTICLE



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FX Insight Outlook Gbp/Usd Week Aug 27th

Forex Insight Outlook on gbp/usd:

We are looking for this pair to remain at the 15825-15815 area and for a possible shot to 15845 before the weeks end. Moving on to next week the pair is expected surpass the 15870 line towards 15925 is our target. Traders are in positions long on gbp/usd. Follow in and be part of the Q&A Monday morning trading session.

KEY levels for next week
15900
15980
16025









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Further Action by the Fed Reserve?

Time for everyone's favorite Fed mouthpiece, Jon Hilsenrath to hand over the podium to his true superior, Ben Bernanke, by posting the Chairsatan's response letter to Republican Darrel Issa in which he defends QE and leave in the following: "There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery." And just to make sure that as Hilsenrath is to the Fed, so Reuters is to the ECB, we get the following tried and now simply pathetic regurgitation of the Spiegel rumor from this Sunday (which was since denied at least two times for the simple reason that Germany will never agree to open-ended debt monetization until global stock markets are literally collapsing) via Reuters: 

"ECB considering setting yield band targets under new bond buying programme according to sources." Full Article  

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UK GDP growth rate highly anticipated Gbp/Usd Ready

As the most important growth figure for a nation, GDP is tracked on a nation by nation basis. The next GDP announcement for the UK is set to take place next Friday August 24th at 4:30am New York time. As with any news event, numbers released outside of the predicted values can bring volatility and increase the likely hood of a breakout. This month GBP GDP (YoY) is expected to be released at -.6%. Expectations are already set for negative growth; any further decline could cause a severe reaction on the British Pound.

 The Gross Domestic Product growth rate of the UK is one of many highly anticipated events on this week’s economic calendar. GDP growth looks specifically at changes in growth patterns of an economy. FULL Story

Trade with the Forex Insight Group this all important data. How the trade prior and after the data release. Full trade set, market commentary, and Live Q&A

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Will Greece Exit the Euro Zone Next Month?

Another day, another prediction of a Greek exit from the euro zone. But unlike the vast majority who give a medium term timeline for a "Grexit", one strategist told CNBC it could come as early as next month. “It’s a question of when, not if. Next month there is the ratification of the ESM [European Stability Mechanism] in Germany and you may well see a situation where Greece leaves the euro, the ESM is ratified and Spain and Italy then go in and ask for the money. There is a feeling that time is running out,” Paul Day, Chief Strategist, at Market Securities told CNBC’s "Squawk Box Europe". FULL STORY (click)

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Forex Insight Trade of Day July 31. Gbp/Usd

Today's Gbp/Usd trade was taken because a number of reasons, technically we had our 5 sma crossover our 8 ema signaling a possible reversal in the trend. We also had gbp/usd come down and struggle to break prior lows. Our L1 line also began to turn upward and confirmed our bias higher. Fundamentally, we had market participants optimistic on that the fact that the Fed may take further action to help stimulate the US economy, so this help carry more riskier currencies higher. A total of 52 pips was gained on this nice Trade of the day. Trader on avg today made off with avg 65 pips iin today morning session.

This snap shot is from one of our lead traders Michael Knight in the Forex Insight community of traders.

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The US Federal Reserve is stealing from the entire world!

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Japan Core CPI -0.2% On Year In June

Japan Core CPI -0.2% On Year In June

Overall CPI also came in at -0.2 percent, similarly missing forecasts for a flat reading after collecting 0.2 percent in the previous month.

Among the individual components, prices for furniture were down 3.4 percent on year, followed by recreation (-1.5 percent), medical care (-1.2 percent) and transportation (-0.3 percent). Fuel costs were up an annual 3.5 percent, while education costs were up 0.4 percent and food prices added 0.1 percent.

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