LOW VOLATILITY ON THE MARKET AHEAD OF THE US FINAL GDP REPORT. GERMAN GFK CONSUMER CLIMATE FALLS IN SEPTEMBER.
URUSD dropped yesterday and closed at 1.2749. The President of the European Central Bank Mario Draghi stated in his speech that the central bank is ready to use any unconventional measures to prevent a prolonged period of low inflation in the currency union. Data from the United States revealed that the Durable Goods Orders dropped -18.2 percent in August. On the other hand the Core Durable Goods Orders came in line with the market expectations rising 0.7 percent in the same period. The Unemployment Claims report came better, but still closer to the market expectations at a reading of 293K.
Investors are now looking forward for the key event of the day – the Final GDP report from the United States for the 2nd quarter of 2014. Depending on the outcome of the release we may witness high volatility on the market and investors should be fully aware of it.
Investors are now looking forward for the Unemployment Claims and Durable Goods Orders releases due from the United States.
Support for the EURUSD is seen at 1.2714 and resistance is seen at 1.2819.
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.
EURUSD PRINTED NEW LOWS AT THE START OF THE WEEK. LIGHT ECONOMIC CALENDAR FOR THE SESSION AHEAD.
EURUSD dropped on Friday and closed at 1.2682. The Gfk Consumer Confidence in Germany dropped for a fifth consecutive month to a reading of 8.3 in October. Data from the United States showed that the Final GDP rose 4.6 percent in the second quarter of 2014. The University of Michigan revised Consumer Sentiment rose to a level of 84.6 in September, market had expected a rise to 85.1.
The top fundamental releases of the week will be the Minimum Bid Rate and the ECB Press Conference due from Europe and the US Non-farm Payrolls report.
Support for the EURUSD is seen at 1.2667 and resistance is seen at 1.2783.
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.
EURUSD BROKE THE 1.2600 LEVEL AFTER THE CONSUMER PRICE INDEX IN THE EUROZONE DROPPED TO 0.3 PERCENT IN SEPTEMBER.
EURUSD rose yesterday and closed at 1.2684. The German Consumer Price Index remained flat in September coming at a reading of 0.0 percent. In Spain the CPI dropped to a reading of -0.2 percent during the same period. Data from the United States revealed that the Pending Home Sales in the largest economy of the world recorded drop of -1.0 percent in August. On the other hand the Personal Spending and the Personal Income in the US rose in line with the market expectations with 0.5 and 0.3 percent accordingly in August.
Data released today indicated that the Consumer Price Index in the Eurozone dropped to a level of 0.3 percent on an annual basis in September. The release caused a major sell off on the EURUSD and the pair fell below the 1.2600 level. Another report indicated that the Unemployment Rate in the currency union remained stable in August at 11.5 percent.
Investors are now looking forward for the CB Consumer Confidence data due from the United States later today.
Support for the EURUSD is seen at 1.2589 and resistance is seen at 1.2713.
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.
EURUSD TRADING NEAR THE 1.2600 LEVEL IN THE EUROPEAN SESSION. US ADP NON-FARM EMPLOYMENT CHANGE ON FOCUS.
EURUSD dropped yesterday and closed at 1.2630. The CPI Flash Estimate in the Eurozone dropped to a level of 0.3 percent on an annual basis in September. The Unemployment Rate in the currency union remained stable at 11.5 percent. Data from the United States showed that the CB Consumer Confidence dropped to a reading of 86.0 in September. The Chicago PMI also failed to meet the market expectations coming at a reading of 60.5 in September.
Data released today indicated that the Final Manufacturing PMI in the Eurozone dropped to a level of 50.3 in September.
Investors are now looking forward for the ADP Non-Farm Employment Change and the ISM Manufacturing PMI releases due from the United States.
Support for the EURUSD is seen at 1.2586 and resistance is seen at 1.2716.
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.
EURUSD TRADING HIGHER DURING THE ECB PRESS CONFERENCE. ECB LEFT THE MINIMUM BID RATE AT 0.05 PERCENT.
EURUSD dropped yesterday and closed at 1.2621. Data released from the Eurozone revealed that the Final Manufacturing PMI in the currency union remained stable in September coming at a reading of 50.3. The ADP Non-Farm Employment Change came out better than expected showing an increase of 213K jobs in September. On the other hand the ISM Manufacturing PMI was a little bit disappointing coming worse than expected at a reading of 56.6 in September.
Data released today indicated that the Unemployment Claims in the largest economy in the world were less than expected during the last week coming at a reading of 287K. Market had expected a rise to 299K.
The ECB Press Conference is taking place at the moment and the pair is trading higher following the comments from the ECB President Mario Draghi.
Support for the EURUSD is seen at 1.2587 and resistance is seen at 1.2668.
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.
EURUSD TRADING LOWER AFTER THE SHARP DROP OF THE GERMAN INDUSTRIAL PRODUCTION IN AUGUST.
EURUSD rose yesterday and closed at 1.2654. The Sentix Investor Confidence in the Eurozone dropped to a new low of -13.7 in September. The German Factory Orders dropped sharply to -5.7 percent in August. In the United States the President of the Federal Reserve in Kansas City Esther George opined that the central bank should raise the short-term interest rates. According to her there is a noticeable improvement of the US economy.
Data released earlier today indicated that the German Industrial Production dropped sharply in August. The release showed a reading of -4.0 percent against the market expectations of a -1.4 percent drop. Following the negative release the single European currency lost ground against its US counterpart and its currently trading below the 1.2600 level.
Investors are looking forward for the FOMC Meeting Minutes due tomorrow.
Support for the EURUSD is seen at 1.2508 and resistance is seen at 1.2654.
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.
EURUSD TRADING HIGHER IN THE LATE EUROPEAN SESSION. INVESTORS ARE AWAITING THE FOMC MEETING MINUTES.
EURUSD rose yesterday and closed at 1.2668. The German Industrial Production came out at a reading of -4.0 percent on a monthly basis in August. The European Central Bank Governing Council Member Klaas Knot stated that the central bank will continue with its current accommodative policy, because the inflation in the Eurozone is still very low. Data from the United States showed that the JOLTS Job Openings rose to a level of 4.84M in August.
During his speech yesterday the President of the United States Federal Reserve in New York William Dudley expressed his upbeat view of the US economy and added that Fed might raise the interest rates in the middle of 2015.
Investors are now looking forward for the FOMC Meeting Minutes due later today.
Support for the EURUSD is seen at 1.2584 and resistance is seen at 1.2680.
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.
EURUSD PRINTED NEW HIGHS IN THE EUROPEAN SESSION. ECB PRESIDENT MARIO DRAGHI SPEAKS TODAY.
EURUSD rose yesterday and closed at 1.2732. The German Bundesbank President Jens Weidmann criticized the plans of ECB to buy private sector bonds. On the other hand the ECB Vice President Vitor Constancio spoke in favor of the recent measures taken by the central bank in order to battle with the low inflation in the Euro area. The FOMC Meeting Minutes revealed that the Fed is planning to end its QE program after the end of this month and keep the interest rates low for a considerable period of time. Furthermore some policy members added their concerns about the strong dollar which may hurt the US exports if it continues to strengthen further.
Investors are looking forward for the speech of the President of the European Central Bank Mario Draghi at the Brookings Institution in Washington DC and the Unemployment Claims data due earlier.
Support for the EURUSD is seen at 1.2624 and resistance is seen at 1.2785.
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.
EURUSD TRADING LOWER IN THE EUROPEAN SESSION. DAY 1 OF THE IMF MEETINGS ON FOCUS.
EURUSD dropped yesterday and closed at 1.2689. The German Trade Balance dropped to a level of 17.5B in August. During his speech at the Brookings Institution in Washington DC the President of the European Central Bank Mario Draghi stated that he expects the bank lending in the Eurozone to pick up in the early 2015 and also assured that ECB will boost the inflation from its current low levels. He also mentioned that ECB is ready to take any additional measures if needed. The IMF Managing Director Christine Lagarde raised her concerns over the Eurozone possibly falling back into recession unless the central bank and all countries in the Euro area don’t step up and take measures to prevent it.
Data from the United States indicated that the Unemployment Claims during the last week dropped to a level of 287K. The President of the United States Federal Reserve in San Francisco John Williams indicated that the Fed would likely raise its interest rates in the middle of 2015.
Support for the EURUSD is seen at 1.2624 and resistance is seen at 1.2785..
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.
EURUSD PUSHED HIGHER IN THE ASIAN SESSION. US BANKS WILL BE CLOSED TODAY DUE TO THE OBSERVANCE OF COLUMBUS DAY.
EURUSD dropped on Friday and closed at 1.2628. The ECB Governing Council member Peter Praet stated that the economy in the Eurozone would post a modest recovery in the 3rd quarter of 2014. Data from the United States indicated that the export prices dropped 0.2 percent on a monthly basis in September. The President of the United States Federal
Reserve in Kansas Esther George indicated that Fed would most likely raise its interest rates next year.
During the weekend the President of the European Central Bank Mario Draghi stated that he sees no risk for the government bond markets in the Eurozone. Draghi also stated that ECB is ready to take further steps if needed in order to bring the annual inflation closer to the 2 percent target.
The banks in the United States will be closed today due to the observance of Columbus Day.
Support for the EURUSD is seen at 1.2610 and resistance is seen at 1.2785.
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.
