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[HFM]

Date : 7th January 2015

EURUSD PREPARING TO TEST THE 1.18 LEVEL AFTER NEGATIVE CPI FROM THE EUROZONE AND BETTER THAN EXPECTED ADP NON-FARM EMPLOYMENT CHANGE REPORT FROM THE UNITED STATES.​

EURUSD dropped yesterday and closed at 1.1889. The Final Services PMI in the Eurozone came out closed to the market expectations at 51.6. The same report from the United States followed and also came close to the market expectations at a reading of 53.3. The ISM Non-Manufacturing PMI failed to meet the market expectations and came out at a reading of 56.2 in December.

Data released today pushed to EURUSD even lower. The CPI Flash Estimate year over year report from the Eurozone came out at a reading of -0.2 percent. That’s the first time since 2009 where the Eurozones’s CPI declines. A report from the United States pressurized the single European currency after the ADP Non-Farm Employment Change came out better than the market expectations at a reading of 241K.

While the EURUSD is looking to potentially break the 1.18 level investors are looking forward for the FOMC Meeting Minutes due later today.

Support for the EURUSD is seen at 1.1817 and resistance is seen at 1.1936.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 8th January 2015

EURUSD KEEPS PRINTING NEW LOWS IN THE EUROPEAN SESSION. THE US UNEMPLOYMENT CLAIMS REPORT DUE TODAY.​

EURUSD dropped yesterday and closed at 1.1838. The Consumer Price Index in the Eurozone dropped -0.2 percent on an annual basis in December. The fall of the prices for a 2nd consecutive month might pressurize the European Central Bank to start its stimulus program immediately.

The FOMC Meeting Minutes showed that most of the Fed officials agreed that the central bank do not consider increasing rates before April 2015. The Trade Balance in the United States came out better than expected at -39.0B in November 2014. The positive tone for the US dollar was also confirmed by the better than expected ADP Non-Farm Employment Change report which came out 241K in December against the expected reading of 227K.

Investors are now looking forward for the Unemployment Claims report.

Support for the EURUSD is seen at 1.1763 and resistance is seen at 1.1889.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 12th January 2015

EURUSD TRADING NEAR THE LOWS IN THE LATE EUROPEAN SESSION. LIGHT ECONOMIC CALENDAR TODAY.​

EURUSD rose on Friday and closed at 1.1840. The German Industrial Production dropped on a monthly basis coming at a reading of 0.1 percent in November. The Unemployment Rate in the United States fell to a 15-year low level of 5.6 percent in December. The Non-Farm Payrolls surprised the investors coming better than the market expectations with a gain of 252K in December. The Wholesale Inventories also followed the positive tone registering a rise of 0.8 percent.

The President of the United States Federal Reserve in Richmond, Jeffrey Lacker expressed his optimism about the US economy and projected a rise of the GDP from 2.5 to 3 percent in 2015.

On the other hand the President of the Federal Reserve in Chicago, Charles Evans stated that even as the labor market continues to show considerable progress the current inflation and the inflation outlook remain low and Fed should avoid increasing rates until 2016.

Support for the EURUSD is seen at 1.1763 and resistance is seen at 1.1889.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 13th January 2015

EURUSD TRADING NEAR THE 1.1800 LEVEL AFTER PUSHING HIGHER IN THE ASIAN SESSION.​

EURUSD dropped yesterday and closed at 1.1833. The European Central Bank Governing Council Member Ewald Nowotny stated that the central bank should act soon rather than later to boost the economic growth and inflation in the currency union. Nowotny also added that the policymakers are discussing steps including bond buying in order to spur the growth in the region. It is also widely expected that the ECB will announce a launch of the QE program as early as 21st January, as consumer prices in the EU are into deflationary territory according to the preliminary data that was released.

During his speech yesterday the President of the United States Federal Reserve in Atlanta Dennis Lockhart indicated that the sees the US economy moving ahead in its recovery. Lockhart added that he sees the potential increase in the interest rates in the middle of 2015.

Support for the EURUSD is seen at 1.1763 and resistance is seen at 1.1889.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 14th January 2015

EURUSD DROPS BELOW 1.1747 WHILE ECB CONTINUES TO DISCUSS THE QE PROGRAM. US RETAIL SALES DATA DUE TODAY.​

EURUSD dropped yesterday and closed at 1.1771. Data released yesterday showed that the German Wholesale Price Index dropped 1.0 percent on a monthly basis in December. On the other hand the Industrial Production in Italy rose 0.3 percent on a monthly basis in November beating the market expectations of a 0.1 percent rise.

In the United States the NFIB Small Business Index rose to a level of 100.4 in December. Another report revealed that the JOLTS Job Openings advanced to a reading of 4.97M in November.

The World Bank increased the economic growth forecast for the United States to 3.2 percent from 3.0 percent projected earlier, while downgrading the Eurozone economic growth forecast to 1.1 percent from the 1.8 percent projected earlier.

Investors are now looking forward for the Retail Sales data due to be released from the United States later today.

Support for the EURUSD is seen at 1.1734 and resistance is seen at 1.1870.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 15th January 2015

A HISTORICAL DAY FOR THE FOREX MARKET – EURUSD DROPPED BELOW 1.1600 AFTER SNB REMOVED THE 1.20 PEG.​

EURUSD rose yesterday and closed at 1.1789. The European Court of Justice ruled that the ECB bond buying program was legitimate once certain conditions were met. Basically the ruling cleared the obstacle in front of the program and the QE might be launched when ECB decides.

Data from the United States revealed that the dropped 0.9 percent in December. The Core Retail Sales recorded a drop of 1.0 percent.

The President of the United States Federal Reserve in Philadelphia Charles Plosser urged the central bank to hike the interest rates soon, citing the improvements in the US economic conditions.

During the European session today the Swiss National Bank decided to remove the peg from the 1.20 level on the EURCHF. The release shocked the markets and caused large moves on a large number of currency pairs sending EURUSD below the 1.1600 level.

Reports released from the United States indicated that the Unemployment Claims rose slightly during the last week to 316K. On the other hand the Core PPI and the Empire State Manufacturing Index surprised the markets with better than expected performance.

Investors are now looking forward for the Philly Fed Manufacturing Index and the speech of the Deutsche Bundesbank President Jens Weidmann due later today.

Support for the EURUSD is seen at 1.1660 and resistance is seen at 1.1825.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 16th January 2015

EURUSD TRADING HIGHER AHEAD OF THE EUROZONE’S FINAL CPI DATA.​

EURUSD dropped yesterday and closed at 1.1632. The Trade Balance in the Eurozone increased to 20 Billion Euro in November. Data from the United States indicated that the initial jobless claims rose to 316K during the last week. On the other hand the Empire State Manufacturing Index rose to a level of 10 in January.

The President of the United States Federal Reserve in Boston Eric Rosengren opined that he is not confident about the US moving towards the 2 percent inflation target and urged the central bank to remain patient about increasing the interest rates.

Investors are now looking forward for the Final CPI data from the Eurozone and the CPI data from the United States. Later on the Preliminary University of Michigan Consumer Sentiment is due to be released from the United States.

Support for the EURUSD is seen at 1.1583 and resistance is seen at 1.1740.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 20th January 2015

EURUSD STABLE AFTER BETTER THAN EXPECTED GERMAN ZEW ECONOMIC SENTIMENT RELEASE.​

EURUSD rose yesterday and closed at 1.1606. The Current Account in the Eurozone dropped to 18.1B in November.

Early this morning the International Monetary Fund cut the economic growht forecast for the Eurozone to 1.2 percent in 2015 from the previous estimate of 1.3 percent. On the other hand the growth forecast for the United States was revised up to 3.6 percent from the previous forecast of 3.1 percent, due to the robust private domestic demand according to the IMF.

Investors are now looking forward for the speech of the FOMC member Jerome Powell at the Brookings Institution in Washington DC due later today.

Support for the EURUSD is seen at 1.1490 and resistance is seen at 1.1646.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 23rd January 2015

EURUSD DROPPED NEAR THE 1.1100 LEVEL AHEAD OF THE US SESSION.​

EURUSD dropped yesterday and closed at 1.1360. During the ECB Press Conference the President of the European Central Bank Mario Draghi announced the start of the QE program. He stated that ECB will purchase 60 billion EUR per month worth of securities including investment grade sovereign bonds starting from the beginning of March and currently scheduled to September 2016. The European Central Bank decided to keep the interest rate steady at 0.05 percent.

Data from the United States revealed that the Unemployment Claims dropped to 307K during the last week. Another report indicated that the House Price Index in the US rose 0.8 percent from the 0.4 percent registered during the previous month.

During the European session today the single European currency registered another sharp drop registering lows near the 1.1100 level.

Investors should be aware that the premature parliamentary elections in Greece on Sunday may bring volatility on the market during the market open.

Support for the EURUSD is seen at 1.1114 and resistance is seen at 1.1374.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

[HFM]

Date : 27th January 2015

EURUSD TRADING HIGHER AHEAD OF THE US CORE DURABLE GOODS ORDERS REPORT.​

EURUSD rose yesterday and closed at 1.1237. Data released yesterday showed that the German Ifo Business Climate rose to a level of 106.7 in January reaching a 6-month high.

The afternoon will be dominated by releases from the United States including the Core Durable Goods Orders, The CB Consumer Confidence and the New Home Sales data. The ECOFIN Meetings are also taking place today in Brussels.

Investors should be fully aware that any potential information regarding the situation in Greece might bring volatility on the market.

Support for the EURUSD is seen at 1.1135 and resistance is seen at 1.1344.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.