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Old 07-25-2014, 08:08 AM   #1

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Daily Analysis

Date : 24th July 2014

EURUSD LOSING SOME OF ITS EARLIER GAINS AFTER THE US UNEMPLOYMENT CLAIMS DROPPED TO A 8-YEAR LOW LEVEL DURING THE LAST WEEK.


EURUSD dropped yesterday and closed at 1.3462. Earlier today the single European currency was boosted after positive PMI data from Europe and rebounded from the lows. The German Flash Manufacturing PMI rose to a reading of 52.9 in July. The German Flash Services PMI also rose in July reaching 56.6. The single European currency started to lose some of its steam after the better than expected Unemployment Claims data released from the United States in the afternoon. The Unemployment Claims dropped to a 8-year low level of 284K during the last week.


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

Support for the EURUSD is seen at 1.3453 and resistance is seen at 1.3542.
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Old 07-25-2014, 08:22 AM   #2

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Re: Daily Analysis

Date : 25th July 2014

EURUSD TRADING LOWER AFTER WORSE THAN EXPECTED GERMAN IFO BUSINESS CLIMATE DATA.


EURUSD traded sideways yesterday and closed at 1.3463. Data released yesterday indicated that German Flash Manufacturing PMI rose to a reading of 52.9 in July. Initially the single European currency gained against its US counterpart, but after better than expected jobless claims report and the potential new sanctions against Russia the Euro lost ground. Data released from the United States indicated that the Unemployment Claims dropped unexpectedly 19,000 to a reading of 284K during the last week.


Data released today showed that the German Ifo Business Climate dropped to a level of 108.0 in July. Investors are now looking forward for the Core Durable Goods Orders data due from the United States.

Support for the EURUSD is seen at 1.3440 and resistance is seen at 1.3505.
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Old 07-28-2014, 10:28 AM   #3

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Re: Daily Analysis

Date : 28th July 2014

EURUSD TRADING NEAR THE 1.34 MARK IN THE EUROPEAN SESSION. US FUNDAMENTALS WILL DRIVE THE FX MARKET IN THE WEEK AHEAD.


EURUSD dropped on Frirday and closed at 1.3429. The business sentiment in Germany dropped for a third consecutive month to a reading of 108.0 in July. The European revealed in its monthly report that the private sector lending in the Eurozone fell 1.7 percent on an annual basis. The single European currency was also pressurized after the EU increased its blacklist Russian who are subject of sanctions. The ECB Vice President Vitor Constancio downplayed the speculations of different sources for potential new measures in the near term taken by the central bank against the low inflation. Data from the United States also boosted the US dollar. The Core Durable goods orders rose 0.7 percent on a monthly basis in June.

The week ahead will be driven mostly by the US fundamentals. The Pending Homes month over month release is due later today. On Wednesday we have the ADP Non-Farm Employment Change, the FOMC Statement and the Advance GDP data for the second quarter of 2014 due on the calendar. The top fundamental event on Friday will be the Non-Farm Payrolls release.

Support for the EURUSD is seen at 1.3424 and resistance is seen at 1.3485.
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Old 07-30-2014, 10:18 AM   #4

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Re: Daily Analysis

Date : 30th July 2014

EURUSD IS UNDER PRESSURE AHEAD OF THE ADP NON-FARM EMPLOYMENT CHANGE AND THE ADVANCE GDP DATA FROM THE US.


EURUSD dropped yesterday and closed at 1.3407. The US dollar was boosted by the CB Consumer Confidence release which indicated that the consumer confidence in the United States rose to a 7 year high reading of 90.9 in July. Data from Germany indicated that the import prices rose less than expected in June recording a 0.2 percent rise. The ECB Governing Council Member and Bundesbank President Jens Weidmann welcomed a strong rise in the wages in Germany.

Data released today indicated that the Spanish Flash Consumer Price Index dropped to a level of -0.3 percent on an annual basis in July.

Investors are now looking forward for the ADP Non-Farm Employment Change Report and the Advance GDP data for the second quarter of 2014 from the United States. Later today the FOMC Monetary Policy Statement is due from the US.

Support for the EURUSD is seen at 1.3396 and resistance is seen at 1.3485.
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Old 08-01-2014, 10:52 AM   #5

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Re: Daily Analysis

Date : 1st August 2014

EURUSD TRADING ABOVE 1.3400 AFTER THE US NON-FARM PAYROLLS RELEASE.


EURUSD dropped yesterday and closed at 1.3389. The inflation in the Eurozone continued to fall reaching its lowest level in almost 5 years coming at a reading of 0.4 percent in July. On the other side the Unemployment Level in the Eurozone declined to 11.5 percent from its previous 11.6 percent level. The Unemployment Claims release came out in line with the market expectations at a reading of 302K during the last week.


The key even of the way was the US Non-Farm Payrolls and Unemployment Level releases which were both released today. The US Non-Farm Employment Change came our worse than the market expectations at a reading of 209K. The Unemployment Rate in the US rose to a level of 6.2 percent. Following the releases the US dollar lost ground against most of its counterparts and EURUSD is currently trading above the 1.3400 mark.

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.
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Old 08-04-2014, 10:45 AM   #6

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Re: Daily Analysis

Date : 4th August 2014

LOW VOLATILITY AT THE START OF THE WEEK. ECB PRESS CONFERENCE AND MINIMUM BID RATE ON FOCUS THIS WEEK.


EURUSD rose on Friday and closed at 1.3430. The US dollar lost some of its gains against its European counterpart after the Unemployment Rate in the United States unexpectedly rose to 6.2 percent from 6.1 percent during the previous month. The US Non-Farm Payrolls also rose less than expected to a reading of 209K. In the Eurozone the Manufacturing PMI in Germany recorded a drop to a reading of 52.9.

Data released today indicated that the Sentix Investor Confidence in the Eurozone dropped to a level of 2.7 in August from the previous 10.1 level in July.

The main economic events of the week will be the ECB Press Conference and Minimum Bid Rate decision. Both are due to be delivered on Thursday.

Investors are now looking forward for the ISM Non-Manufacturing PMI due from the United States tomorrow.

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.
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Old 08-05-2014, 09:42 AM   #7

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Re: Daily Analysis

Date : 5th August 2014

EURUSD FLIRTING WITH THE 1.3400 LEVEL IN THE FIRST HALF OF THE EUROPEAN SESSION.


EURUSD dropped yesterday and closed at 1.3421. The Sentix Investor Confidence in the Eurozone dropped sharply to a reading of 2.7 in August marking its lowest level in 12 months. Data from Spain revealed that the unemployment level in the country dropped by 29.8K in July.

Data released from the Eurozone today indicated that the Final Services Purchasing Managers Index in the Eurozone remained steady in July coming at a reading of 54.2. Another report indicated that the Retail Sales in the EU expanded by 0.4 percent in June.

Investors are now looking forward for the ISM Non-Manufacturing Purchasing Managers Index release due from the United States.

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.
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Old 08-06-2014, 09:45 AM   #8

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Re: Daily Analysis

Date : 6th August 2014

EURUSD PRINTED NEW LOWS IN THE EUROPEAN SESSION ON POOR DATA FROM THE EUROZONE.


EURUSD dropped yesterday and closed at 1.3375. The Final Services PMI in the Eurozone expanded to a reading of 54.2 in July. The Spanish and Italian Services Purchasing Managers Indexes also expanded, but the report from the Italy was disappointing. The Retails Sales month over month came out in line with the market expectations at a reading of 0.4 percent in June. Data from the United States revealed that the ISM Non-Manufacturing Index rose to an eight year high level of 58.7 in July. The Factory Orders in the States also jumped recording a gain of 1.1 percent in June.



Data released today indicated that the German Factory Orders dropped to a reading of -3.2 percent in June. This combined with the poor preliminary GDP report from Italy which dropped to a reading of -0.2 percent sent to the Euro lower and the pair is currently trading near the 1.3340 level.

Investors are now looking forward for the Trade Balance data due from the United States.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3413.
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