UK Halifax House Prices Unexpectedly Rise in July
The European indices are currently trading positive territory following a series of strong earnings reports ahead of the open.
European government bonds are currently trading slightly lower in the session following a reversal in Treasuries after US equities made a comeback late yesterday. Similarly, over in the UK, gilts are trading slightly lower as well.
In the UK overnight, Halifax house prices for the month of July, which were expected to decline from June's readings, rose to 0.7% m/m and 11.2% y/y, the highest y/y reading since February of 2005. Despite the unexpected rise, Halifax noted that the data confirmed that growth in house prices is slowing down as the readings continue to rise at a decreasing pace. Despite this, Halifax revised its 2007 price inflation forecast to 6% from the previous forecast of 4%.
The net change in Spanish unemployment for the month of July was 4.5K, below estimates of 6.8K. This is the first time that registered unemployment rose in six months. The number of those claiming unemployment benefits rose by approximately 4,469 or 0.2% according to the Labor Ministry. Do recall, however, that on July 27, the release of second-quarter unemployment came in at 7.95%, the lowest in 29 years.
Swedish preliminary second-quarter GDP rose by more than expected to 1.0% m/m and 3.6% y/y, from first-quarter readings of 0.6% q/q and 3.0% y/y respectively.
The Swiss SVME PMI for the month of July, which was expected to decline, rose to 63.0 from 62.8 in June. The reading was the highest in five months as companies increased output in an attempt to keep pace with demand.
Construction PMI in the UK, which was expected to decline, rose to 61.8 in July from 60.1 in June.
Euro-Zone producer prices for the month of June, which were expected to remain unchanged m/m at 0.3%, declined to 0.1%m/m and remained unchanged y/y at 2.3%. The m/m followed weak intermediate and energy goods prices.
Trade The News Staff
Trade The News, Inc.
Currency |
Long/Buy |
Short/Sell |
Target |
Stop |
Date |
Remarks |
GBP/JPY |
- |
228.15 |
225.90 |
229.05 |
19-11-2007 |
- |
GBP/USD |
2.0430 |
- |
2.0620 |
2.0355 |
16-11-2007 |
Profit booked of 120 pips |
GBP/JPY |
- |
225.90 |
222.80 |
226.85 |
16-11-2007 |
Stop hit of 95 pips |
GBP/JPY |
- |
231.95 |
227.30 |
232.75 |
14-11-2007 |
Profit booked of 465 pips |
EUR/JPY |
- |
161.25 |
158.00 |
162.05 |
13-11-2007 |
Stop hit of 80 pips |
GBP/USD |
- |
2.01060 |
2.0810 |
2.01165 |
07-11-2007 |
Profit booked of 250 pips |
GBP/JPY |
238.35 |
- |
241.00 |
237.75 |
31-10-2007 |
Profit booked of 265 pips |
GBP/JPY |
- |
237.55 |
234.50 |
238.25 |
30-10-2007 |
Stop hit of 70 pips |
GBP/USD |
2.0430 |
- |
2.0600 |
2.0375 |
24-10-2007 |
Profit booked of 170 pips |
GBP/JPY |
- |
236.85 |
234.50 |
237.55 |
19-10-2007 |
Profit booked of 235 pips |
USD/JPY |
- |
115.30 |
114.10 |
115.90 |
19-10-2007 |
Profit booked of 120 pips |
EUR/JPY |
- |
165.70 |
164.50 |
166.35 |
17-10-2007 |
Profit booked of 120 pips |
EUR/JPY |
164.70 |
- |
166.50 |
164.25 |
17-10-2007 |
Profit booked of 120 pips |
GBP/USD |
- |
2.0430 |
2.0250 |
2.0475 |
15-10-2007 |
Profit booked of 135 pips |
GBP/USD |
2.0250 |
- |
2.0420 |
2.0185 |
12-10-2007 |
Profit booked of 110 pips |
GBP/JPY |
- |
239.40 |
237.00 |
240.25 |
11-10-2007 |
Profit booked of 190 pips |
FOREX SYGNALS SYSTEM
EURO
Latest trading recommendations 08.00 BST, 03.00 EST) 23-05-08
| Currency | Date | Time | Strategy | First Target | Second target |
| EUR/US$ (buy) | 22-05-08 | 13.00 | Short term buy at 1.5635 | 1.5655 | 1.5675 |
| EUR/US$ (sell) | 23-05-08 | 08.00 | Short-term, sell at 1.5810 | 1.5780 | 1.5750 |
| US$/CHF (buy) | 23-05-08 | 08.00 | Short term, buy at 1.0255 | 1.0275 | 1.0295 |
| US$/CHF (sell) | 22-05-08 | 13.00 | Short term, sell at 1.0395 | 1.0375 | 1.0355 |
| AUD/US$ | 21-05-08 | 13.00 | Short term, sell at 0.9650 | 0.9620 | 0.9590 |
| US$/CAD | 21-05-08 | 13.00 | Short term, buy at 0.9830 | 0.9850 | 0.9870 |
| EUR/CHF | 19-05-08 | 13.00 | Short term, sell at 1.6350 | 1.6330 | 1.6310 |
(We suggest investors make their own stop-loss decisions. We will, however, assume that all trades have stop losses at 30 pips from entry unless we advise otherwise)
Pound
Latest short-term trading recommendations 08.00 BST, (03.00 EST) 23-05-08
| Currency | Date | Time | Strategy | First target | Second target |
| GBP/US$ (buy) | 23-05-08 | 08.00 | Short term buy at 1.9550 | 1.9580 | 1.9610 |
| GBP/US$ (sell) | 23-05-08 | 08.00 | Short term sell at 1.9840 | 1.9815 | 1.9790 |
| EUR/GBP (buy) | 06-05-08 | 13.00 | Short term, buy at 0.7810 | 0.7830 | 0.7850 |
| EUR/GBP (sell) | 23-05-08 | 08.00 | Short term, sell at 0.8000 | 0.7980 | 0.7960 |
(We suggest investors make their own decisions on stop-loss positions. We will, however assume that all trades have stop losses at 30 points unless we advise otherwise)
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