Trading Daily Outlook – Nov 13 2012 – 8:35 pm (with Full Flash News) – SimplyTrader.Biz/daily

13 November 2012
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Your Trading Daily Outlook – Nov 13 2012 – 8:35 pm (UTC) – with http://SimplyTrader.Biz/daily !

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Today’s Video Flash News: IMF vs. eurozone as Euro weakens (Full Video Flash News in this Video)
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Today’s Outlook – http://SimplyTrader.Biz/news : Eurogroup to give Greece two more years

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U.S. Dollar Trading (USD) a quiet start to the trading week with US Traders away for Veteren’s Day. The main focus was the Greece Austerity vote which was passed successfully. The EUR/USD struggled to rally however with details of the Trioka report and the release of bailout funds. Looking ahead, FED Budget released.

The Euro (EUR) traded in a 50 point range with a rally from 1.2700 faded later in the US session. The successful Greek Budget vote helped spark the brief rally but then ongoing delays to the release of actual aid is weighing. The Troika seems to be disagreeing on whether to give Greece more time and how this would be done. The Sterling (GBP) remained weak with GBP/USD breaking through 1.5900 and continuing to grind lower in Asia today. The 200DMA is close at 1.5850 and could provide some support. GBP Crosses are weighing with GBP/AUD slumping and EUR/GBP back above 0.8020. Looking ahead, October CPI forecast at 2.3% vs. 2.2%. November German ZEW Survey forecast at -9.8% vs. -11.5%.

The Japanese Yen (JPY) is gathering support grinding above Y79.60 in Asia Tuesday. Many of the larger players and hedge funds are taking the increasing threats from the BOJ/MOF more seriously this time and with Q3 GDP slipping into negative we could see action sooner than later. EUR/JPY is stable at the Y101 but is closely watched for market sentiment. Australian Dollar (AUD) was well supported with a reconfirmed AAA rating and strong inflows into Australian Bonds. China’s Trade balance surged on exports and received lots of attention over the weekend with many analysts seeing this as evidence of a soft landing. EUR/AUD is grinding lower with the high yield and safety making the Australian dollar very attractive to long term investors. Looking ahead, October Australian Business Confidence…

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…

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