The euro (EUR) recorded gains against most of its major counterparts even as the German ZEW economic sentiment and current situation indices came out lower than expected. On other news, Greece remains under pressure to deliver additional spending cuts, while Finland achieved a collateral deal as part of the Spanish bank bailout. Versus the US dollar (USD), the single currency rose to 1.2295 from 1.2264.
The US dollar (USD) produced losses versus a basket of currencies as Fed Chairman Bernanke did not provide clear quantitative easing (QE) hints during his first day of testifying before the Senate. QE may occasionally be used to enhance the money supply by purchasing government securities or other securities from the market. The second testimony by the Fed Chairman due today at 14:00 GMT is expected to capture investors’ attention worldwide. Versus the Canadian dollar (CAD), the greenback dropped to 1.0120 from 1.0151 as Bank of Canada decided to leave its lending rate unchanged at 1.00%
The British pound (GBP) rose to 1.5663 from 1.5625 US dollars, ahead of the Bank of England (BoE) Monetary Policy Committee (MPC) meeting minutes release today at 08:30 GMT.
Oil prices rose to 87.79 from 86.75 dollars a barrel. Gold (XAU) remained flat around 1590 US dollars an ounce. Against the euro, gold dropped to 1295.05 from 1297.51 euro an ounce. Silver (XAG) moved up to 27.3655 from 26.9700 dollars an ounce. Stay in tune throughout the day with foreign exchange bullets!
Please note that forex trading (OTC trading) involves substantial risk of loss, and may not be suitable for everyone. The information provided is based on data generated by third party investment research providers. easy-forex® does not assume any liability as to the accuracy of such information. This information shall be used for reference only and it is not binding on easy-forex. This is not an advertisement or a recommendation by easy-forex in engaging / binding you in any forex transactions.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
Eyes on BoE minutes
The euro (EUR) recorded gains against most
of its major counterparts even as the German ZEW economic sentiment and current
situation indices came out lower than expected. On other news, Greece remains
under pressure to deliver additional spending cuts, while Finland achieved a
collateral deal as part of the Spanish bank bailout. Versus the US dollar (USD), the single currency rose
to 1.2295 from 1.2264.
The US dollar (USD) produced
losses versus a basket of currencies as Fed Chairman Bernanke did not provide
clear quantitative easing (QE) hints during his first day of testifying before
the Senate. QE may occasionally be used to enhance the money supply by purchasing
government securities or other securities from the market. The second testimony
by the Fed Chairman due today at 14:00 GMT is expected to capture investors’
attention worldwide. Versus the Canadian
dollar (CAD), the greenback dropped to 1.0120 from 1.0151 as Bank of Canada
decided to leave its lending rate unchanged at 1.00%
The British pound (GBP)
rose to 1.5663 from 1.5625 US dollars, ahead of the Bank of England (BoE)
Monetary Policy Committee (MPC) meeting minutes release today at 08:30 GMT.
Oil prices rose to 87.79 from 86.75 dollars a barrel. Gold (XAU) remained flat around 1590 US dollars an ounce. Against the euro, gold dropped to 1295.05 from 1297.51
euro an ounce. Silver (XAG) moved up
to 27.3655 from 26.9700 dollars an ounce. Stay
in tune throughout the day with foreign exchange bullets!
OUTLOOK ◘
Pivot
Preference1
Sentiment2
EURUSD
1.2245
LONG @ 1.2255
§ 56% of deals buy EUR
USDJPY
79.20
SHORT @ 79.10
§ 84% of deals buy USD
GBPUSD
1.5610
LONG @ 1.5620
§ 46% of deals buy GBP
AUDUSD
1.0275
LONG @ 1.0275
§ 42% of deals buy AUD
GOLD
1587
SHORT @ 1587
§ 57% of deals buy GOLD
OIL
87.35
LONG @ 87.35
§ 32% of deals buy OIL
access extensive market analysis 1data generated by Trading Central™, 2data obtained from easy-forex Inside Viewer™
CALENDAR ◘
Currency
Time (GMT)
Event
Forecast
GBP
08:30
Claimant
Count in June
5k
USD
12:30
Build
Permits in June
0.76 mil
USD
12:30
Housing
Starts in June
0.74 mil
EQUITIES ◘
EUROPE
US
ASIA3
FTSE 100
-0.59%
▼
S&P 500
0.74%
▲
NIKKEI
-0.35%
▼
DAX
0.18%
▲
DJIA
0.62%
▲
HIS
-1.58%
▼
CAC 40
-0.09%
▼
NASDAQ
0.45%
▲
CSI 300
-0.28%
▼
3at the time of writing
Please note that forex trading (OTC trading)
involves substantial risk of loss, and may not be suitable for everyone. The
information provided is based on data generated by third party investment
research providers. easy-forex® does not assume any liability as to
the accuracy of such information. This information shall be used for reference
only and it is not binding on easy-forex. This is not an advertisement or a
recommendation by easy-forex in engaging / binding you in any forex
transactions.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
Click here to visit Easy-Forex.com
Related Posts: