Finotec News Archive - August 29 2007

USD/CHF

Rodian Rahnayev
29 August 2007

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Our profit stop was hit on the short trade above 1.2000 and nearly 30 pips were booked. Repeated tests of support near 1.1985 as hourly studies descended to oversold readings triggered the rebound. 1.2040 highs from o/n and Tuesday now eyed for a sell. Yesterday’s 1.1960 low is the next hard support, but no longer in the frame today.

Finotec Analysis Team
29 August 2007

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Today's Economic Events

Time	Event	Currency	Period	Previous	Forecast	Significance	Actual
14:30	Crude Oil Inventories	USD	Weekly	1.9M
The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.
09:30	Leading Index m/m	CHF	Aug	2.13	2.13		2.06
Leading Index m/m Measures overall economic health by combining ten leading indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads. The index is published monthly by The Conference Board, a leading private US research group, but traders tend to pay little attention because the components that make up the index are reported at an earlier date.