{"id":34360,"date":"2012-12-16T05:06:05","date_gmt":"2012-12-16T10:06:05","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=34360"},"modified":"2012-12-16T05:06:05","modified_gmt":"2012-12-16T10:06:05","slug":"usd-is-bid-in-risk-off-day","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/12\/16\/usd-is-bid-in-risk-off-day\/","title":{"rendered":"USD is Bid in Risk Off Day"},"content":{"rendered":"<p>Source: <a href=\"http:\/\/www.forexyard.com\/landsys\/general_static\/en\/?pid=545&amp;mid=888&amp;cid=15844&amp;zid=15873\" target=\"_blank\"><u>ForexYard<\/u><\/a> <\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/plugins\/profile-pic\/default.jpg\" width=\"120\" alt=\"printprofile\" \/><\/p>\n<p>With the monthly close coming today which caps an October that saw a sharp run up in the prices of risky assets the USD has caught a bid. $89 Bn of this bid likely came from the <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052970204528204577009152325076454.html?mod=WSJEUROPE_hps_MIDDLETopNews\">Japanese Ministry of Finance<\/a> and increased criticism of the European agreement has most markets risk averse to start the week. The bankruptcy filing by <a href=\"http:\/\/www.reuters.com\/article\/2011\/10\/31\/us-mfglobal-corzine-idUSTRE79U0TT20111031\">MF Global<\/a> may have played a part in the day\u2019s movement as the broker is a major player in many fixed income and derivative markets including European bonds. <\/p>\n<p><span id=\"more-15792\"><\/span>European data underperformed today with an unexpected increase in the Italian unemployment rate and disappointing German retail sales for the month of September which fell 0.14%. US data was also lower than expected with the Chicago PMI slipping to 58.4 from 60.4. Expectations were for a smaller decline to 59.2. On a bright note <a href=\"http:\/\/www.statcan.gc.ca\/daily-quotidien\/111031\/dq111031a-eng.htm\">Canadian GDP<\/a> was stronger than forecasted rising 0.3% in August on consensus forecasts of 0.2%. This week has a number of headline events with three central bank meetings (RBA, Fed, ECB) and key data points from both the UK (Q3 GDP) and the US (NFP).<\/p>\n<p>The <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/10\/31\/weekly-technical-fx-preview-japanese-intervention-fails-to-break-usdjpy-downtrend\/\">EUR\/USD<\/a> has come off of its Thursday high and is testing short term support at 1.3980. A break here and the pair could shed another 70 pips to the October 17th high of 1.3910. Cable looks stronger prior to tomorrow\u2019s glut of UK data. Resistance comes in at last week\u2019s high\/200-day moving average at 1.6150 with the next major resistance at the late August high of 1.6450. <\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n<p> <strong><a href=\"http:\/\/www.forexyard.com\/landsys\/general_static\/en\/?pid=545&amp;mid=888&amp;cid=15844&amp;zid=15873\" target=\"_blank\"><u>Forex Market Analysis provided by ForexYard.<\/u><\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: ForexYard With the monthly close coming today which caps an October that saw a sharp run up in the prices of risky assets the USD has caught a bid. $89 Bn of this bid likely came from the Japanese Ministry of Finance and increased criticism of the European agreement has most markets risk averse &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2012\/12\/16\/usd-is-bid-in-risk-off-day\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD is Bid in Risk Off Day&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-34360","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/34360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=34360"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/34360\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=34360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=34360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=34360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}