Tuesday, May 21, 2013

EU Morning Report – Greece gets 2-year extension

Thursday, October 25th, 2012

 

The euro (EUR) is strengthening against most of its major counterparts, as reports claim Greece will get two years extension to meet its deficit targets. Yesterday, the European Central Bank (ECB) President Draghi met with German lawmakers in a closed-door discussion specifically regarding the Outright Monetary Transactions (OMT) bond buying program. In the press conference that followed he reiterated that the program will not cause inflation or weaken ECB’s independence.

 

 

§ The Canadian dollar (CAD) is still reacting to the decision by Bank of Canada (BoC) to leave its lending rate unchanged at 1.00%. Against the US dollar (USD), the loonie weakened to 0.9943 from 0.9926 yesterday, but looks strong again early in the EU session this morning.

§ OIL plunged to 84.93 – a fresh 3-month record low – but managed to bounce back and is now trading above 86.00 dollars barrel.

§ The British pound (GBP) rebounded off its monthly low at 1.5912 to 1.6028 versus the US dollar (USD) ahead of the release of the nation’s Gross Domestic Product (GDP).

Stay in tune throughout the day with foreign exchange bullets!

 

Outlook . Pivot Preference1 Sentiment2
. EURUSD 1.2945 LONG @ 1.2955 44% of deals buy EUR
. USDJPY 79.65 LONG @ 79.65 59% of deals buy USD
. GBPUSD 1.5985 LONG @ 1.5995 48% of deals buy GBP
. AUDUSD 1.0325 LONG @ 1.0325 59% of deals buy AUD
. GOLD 1714 SHORT @ 1714 71% of deals buy GOLD
. OIL 87.50 SHORT @ 87.50 85% of deals buy OIL
1 data generated by Trading Central™, 2 data obtained from easy-forex Inside Viewer™
.
Calendar Currency Time (GMT) Event Forecast
. GBP 08:30 GDP Preliminary for 3rd quarter 0.6%
. USD 12:30 Durable Goods Orders in September 7.1%
. USD 12:30 Initial Jobless Claims over past week 370 k
Movers Shakers
NZDUSD
The New Zealand dollar (NZD) recorded a higher high at 0.8234 versus the US dollar (USD) this morning and is currently holding onto it. The pair now lies around the 0.8230 support area. A continuation of the uptrend is likely but investors should be careful of the downside.
Please note that Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone. In no way is it a recommendation by easy-forex® for you to engage in any trade. 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 in engaging / binding you in any forex transactions.

 

Written by Easy-Forex

Related Reading: