The euro (EUR) recorded losses against most of its major counterparts as it was revealed that positive comments by the European Central Bank (ECB) President Draghi over the past week were not the result of any resolution or plan. Therefore, Thursday’s policy statement by the ECB and the press conference that will follow, are expected to provide a catalyst for either higher highs or lower lows. Versus the US dollar (USD), the single currency rose to 1.2259 from 1.2302.
The US dollar (USD) produced gains versus a basket of currencies ahead of the Federal Open Market Committee (FOMC) statement release due tomorrow. The ADP Employment report and the ISM Manufacturing Purchasing Managers Index (PMI) prints, also due tomorrow, will capture market participants attention. Versus the Canadian dollar (CAD), the US dollar dropped to 1.0015 from 1.0042.
The Australian dollar (AUD) rose to 1.0496 and advanced to 1.0463 versus the US dollar. The British pound (GBP) dropped to 1.5710 from 1.5726 against the greenback, as investors prepare for Thursday’s policy announcements by the Bank of England (BoE).
Oil prices fell to 89.27 from 89.66 dollars a barrel. Gold (XAU) dropped to 1620.94 from 1622.57 US dollars an ounce. Against the euro, gold rose to 1322.96 from 1317.32 euro an ounce. Silver (XAG) advanced to 28.0821 from 27.6430 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.
Euro skepticism resurfaces
The euro (EUR) recorded losses against most
of its major counterparts as it was revealed that positive comments by the
European Central Bank (ECB) President Draghi over the past week were not the
result of any resolution or plan. Therefore, Thursday’s policy statement by the
ECB and the press conference that will follow, are expected to provide a
catalyst for either higher highs or lower lows. Versus the US dollar (USD), the single currency rose to 1.2259 from 1.2302.
The US dollar (USD) produced gains versus a
basket of currencies ahead of the Federal Open Market Committee (FOMC) statement
release due tomorrow. The ADP Employment report and the ISM Manufacturing
Purchasing Managers Index (PMI) prints, also due tomorrow, will capture market
participants attention. Versus the Canadian
dollar (CAD), the US dollar dropped to 1.0015 from 1.0042.
The Australian dollar (AUD)
rose to 1.0496 and advanced to 1.0463 versus the US dollar. The British pound (GBP) dropped to 1.5710 from
1.5726 against the greenback, as investors prepare for Thursday’s policy
announcements by the Bank of England (BoE).
Oil prices fell to 89.27 from 89.66 dollars a barrel. Gold (XAU) dropped to 1620.94 from 1622.57
US dollars an ounce. Against the euro,
gold rose to 1322.96 from 1317.32 euro an ounce. Silver (XAG) advanced to 28.0821 from 27.6430 dollars an ounce. Stay in tune throughout the day with foreign exchange bullets!
OUTLOOK ◘
Pivot
Preference1
Sentiment2
EURUSD
1.2330
SHORT @ 1.2330
§ 51% of deals buy EUR
USDJPY
78.40
SHORT @ 78.30
§ 90% of deals buy USD
GBPUSD
1.5660
LONG @ 1.5680
§ 42% of deals buy GBP
AUDUSD
1.0420
LONG @ 1.0420
§ 25% of deals buy AUD
GOLD
1608
LONG @ 1608
§ 42% of deals buy GOLD
OIL
89.00
LONG @ 89.00
§ 70% 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
EUR
09:00
Unemployment
in June
11.2%
CAD
12:30
Gross
Domestic Product (GDP) m/m in May
0.2%
USD
14:00
Consumer
Confidence in July
61.5
EQUITIES ◘
EUROPE
US
ASIA3
FTSE 100
1.18%
▲
S&P 500
-0.05%
▼
NIKKEI
0.72%
▲
DAX
1.27%
▲
DJIA
-0.02%
▼
HIS
0.84%
▲
CAC 40
1.24%
▲
NASDAQ
-0.41%
▼
CSI 300
0.21%
▲
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
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