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Old 08-20-2014, 10:36 AM   #17

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Re: Daily Analysis

Date : 20th August 2014

EURUSD BROKER THE 1.3300 LEVEL MAKING ITS 11-MONTH LOW LEVEL AGAINST THE US DOLLAR AHEAD OF THE FOMC MEETING MINUTES.


EURUSD dropped yesterday and closed at 1.3319. The Current Account in the Eurozone dropped to a reading of 13.1B in June. On the other hand the releases from the United States were positive. The Building Permits in the largest economy in the world rose to 1.05M in July. The Housing Starts also recorded a gain in July coming at a reading of 1.09M.



Data released today indicated that the German Producer Price Index dropped -0.1 percent in July.

The EURUSD broke the 1.3300 level making its 11-month low level against its US counterpart and its currently still holding below it.

Investors are looking forward for the FOMC Meeting Minutes due later today.

Support for the EURUSD is seen at 1.3274 and resistance is seen at 1.3366.



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Old 08-21-2014, 10:07 AM   #18

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Re: Daily Analysis

Date : 21st August 2014

EURUSD PRINTED NEW LOWS AFTER THE FOMC MEETING MINUTES. US UNEMPLOYMENT CLAIMS ON TAP.


EURUSD dropped yesterday and closed at 1.3258. The Producer Price Index in the Germany dropped to a reading of -0.1 percent in July. The German Chancellor Angela Merkel urged the leaders of the Eurozone to coordinate more close the construction flaws in order to overcome the debt crisis in the currency bloc.



During the FOMC Meeting Minutes the US dollar strengthened after the committee members noted the improvement in the labour market and the inflation getting to its long-term prospective. The minutes indicated that the future course of the interest rates in the largest economy in the world would be dependent on how the inflation and labour market conditions evolve.

Investors are now looking forward for the Unemployment Claims and the Philly Fed Manufacturing Index due from the United States.

Support for the EURUSD is seen at 1.3242 and resistance is seen at 1.3324.



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Old 08-22-2014, 09:12 AM   #19

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Re: Daily Analysis

Date : 22nd August 2014

SLOW MARKET AHEAD OF THE SPEECH OF THE FED CHAIR JANET YELLEN.


EURUSD rose yesterday and closed at 1.3280. The Manufacturing PMI in the Eurozone dropped to a 13-month low in August coming at a reading to a reading of 50.8. The Services PMI also dropped marking a 2-month low in August at a reading of 53.5. The Consumer Confidence in the Euro area also dropped to a reading of -10. In the United States the President of the Federal Reserve in Kansas City Esther George stated in an interview from the central bank symposium in Jackson Hole that there is steady improvement in the labour market in the US. The Unemployment Claims data released yesterday indicated that the number of people filling applications for unemployment assistance dropped to 298K during the last week. Another report indicated that the Philly Fed Manufacturing Index rose to 28 in August. The Existing Home Sales report was also positive at 5.15M in July.




Investors are now looking forward for the speech of the Fed Chair Janet Yellen and the speech of the ECB President Mario Draghi at Jackson Hole.
Support for the EURUSD is seen at 1.3242 and resistance is seen at 1.3324.



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Old 08-25-2014, 10:12 AM   #20

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Re: Daily Analysis

Date : 25th August 2014

EURUSD PUSHED THROUGH THE 1.3200 LEVEL AT THE MARKET OPEN. US NEW HOME SALES ON TAP.


EURUSD dropped on Friday and closed at 1.3241. During its speech in Kansas city at the Jackson Hole annual conference the President of the European Central Bank Mario Draghi stated that ECB is ready to respond with all of its available tools if the inflation in the EU drops further. Market counted that as a signal of a potential further easing by ECB.



Earlier today a report from Europe showed that the German Ifo Business Climate dropped for a fourth consecutive month to a reading of 106.3 in August.

Investors are now looking forward for the New Home Sales release due from the United States.

Support for the EURUSD is seen at 1.3184 and resistance is seen at 1.3291.



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Old 08-27-2014, 07:53 AM   #21

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Re: Daily Analysis

Date : 27th August 2014

EURUSD PRINTED NEW LOWS IN THE ASIAN SESSION. LIGHT ECONOMIC CALENDAR TODAY.


EURUSD dropped yesterday and closed at 1.3166. The Durable Goods Orders in the United States rose to a record level at 22.6 percent on a monthly basis in July. Market had expected a rise of 7.8 percent. The CB Consumer Confidence in the largest economy in the world rose to its highest reading since October 2007 coming at 92.4 in August. The Richmond Manufacturing Index also recorded a gain coming at a reading of 12 in August.

The Economic Calendar for the rest of the session is light, but potential volatility on the market is possible and can be witnessed.

Support for the EURUSD is seen at 1.3157 and resistance is seen at 1.3291.



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Old 08-28-2014, 10:55 AM   #22

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Re: Daily Analysis

Date : 28th August 2014

EURUSD TRADING LOWER AFTER THE 2ND ESTIMATE GDP FROM THE UNITED STATES CAME BETTER THAN THE MARKET EXPECTATIONS.


EURUSD rose yesterday and closed at 1.3192. The German Gfk Consumer Confidence fell to a reading of 8.6. The German Import Prices also recorded a drop of a -0.4 percent on a monthly basis in July. In an interview the German Finance Minister Wolfgang Schaeuble stated that the comments made by the ECB President Mario Draghi at Jackson Hole were over-interpreted which fuelled a speculation that the central bank is not so close to introducing additional stimulus measures.

Information about a potential Russian invasion in Ukraine brought some slight volatility on the market earlier today.

Data released today revealed that the second estimate GDP in the United States came out better than expected at 4.2 percent. The Unemployment Claims data also released today showed that the number of the people who filled documents for unemployment benefits during the last week is 298K which is close to the market expectation for a 299K.

Investors are now looking forward for the Pending Home Sales month over month release due from the United States.

Support for the EURUSD is seen at 1.3157 and resistance is seen at 1.3291.



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Old 08-29-2014, 11:31 AM   #23

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Re: Daily Analysis

Date : 29th August 2014

EURUSD HOLDING BELOW THE 1.3200 LEVEL AFTER THE CPI FLASH ESTIMATE REPORT.


EURUSD dropped yesterday and closed at 1.3181. The second quarter GDP report from the United States showed an expansion of 4.2 percent on an annual basis better than the forecasted 3.9 percent rise. A separate report indicated that the Pending Home Sales in the largest economy in the world rose 3.3 percent on a monthly basis in July.

Data released today indicated that the annual inflation in the Eurozone dropped to a level of 0.3 percent in August. Investors are now looking forward for the Chicago PMI report due from the United States.

Support for the EURUSD is seen at 1.3157 and resistance is seen at 1.3291.




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Old 09-01-2014, 10:12 AM   #24

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Re: Daily Analysis

Date : 1st September 2014

EURUSD TRADING NEAR ITS FRIDAY’S CLOSE. GERMAN FINAL GDP CAME OUT AS EXPECTED.


EURUSD dropped sharply on Friday and closed at 1.3131. The Unemployment Rate in the Euro area remained at 11.5 percent in July. The Retail Sales in Germany fell 1.4 percent on a monthly basis in July. Data from the United States revealed that the Consumer Sentiment Index rose to a level of 82.5 in July marking its 7 year high level. The biggest surprise on the market was the Chicago Fed PMI which came out at a reading of 64.3 in August. Market had expected a rise to a reading of 56.0.

Data released today indicated that the German Final GDP data came out in line with the market expectations at a reading of -0.2 percent.

The US banks will be closed today due to the observance of the Labor Day.

Support for the EURUSD is seen at 1.3118 and resistance is seen at 1.3217.



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