Daily Analysis

[HFblogNews 10]

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.

[HFblogNews 10]

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.

[HFblogNews 10]

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.

[HFblogNews 10]

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.

[HFblogNews 10]

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.

[HFblogNews 10]

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.

[HFblogNews 10]

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.

[HFblogNews 10]

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.

[HFblogNews 10]

Date : 7th August 2014

 

EURUSD TAKING A BREATHER AHEAD OF THE ECB INTEREST RATE DECISION IN PRESS CONFERENCE.

 

EURUSD rose yesterday and closed at 1.3381. Data released from the Eurozone indicated that the German Factory Orders dropped to a reading of -3.2 percent in June. Another report showed that the GDP in the third-largest economy in the Eurozone – Italy dropped to a reading of -0.2 percent in the second quarter of 2014.

 

Data from the United States indicated that the trade deficit in the largest economy in the world fell to 41.5 billion in June. The President of the United States Federal Reserve in Atlanta Dennis Lockhart stated yesterday that he sees the first interest rate hike in the middle of 2015 or later.

 

Investors are now looking forward for the ECB Interest Rate decision and the ECB Press Conference due today. At the start of the ECB Press Conference the Unemployment Claims report from the United States is due to be released.

 

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

[HFblogNews 10]

Date : 8th August 2014

 

EURUSD TRADING HIGHER ON FRIDAY AFTER THE SHARP DROP YESTERDAY.

 

EURUSD dropped yesterday and closed at 1.3362. The President of the European Central Bank Mario Draghi expressed his concerns about the sanctions against Russia stating that they could worsen the outlook for the economy of the Eurozone. Yesterday the ECB kept its interest rates unchanged at 0.15 percent. The central bank also left its deposit rate unchanged at -0.1 percent. Data released from the United States indicated that the Unemployment Claims dropped to a 8-year low level of 289K during the last week.

 

 

The US President Barack Obama has authorized air-strikes in Iraq to protect the American personnel.

 

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

[HFblogNews 10]

Date : 11th August 2014

 

EURUSD TRADING BELOW THE 1.3400 LEVEL ON MONDAY. LIGHT ECONOMIC CALENDAR TODAY..

 

EURUSD rose on Friday and closed at 1.3410. Data from the United States indicated that the Non-Farm Productivity in the largest economy in the world rose 2.5 percent in the second quarter of 2014. The Wholesale Inventories in the US rose 0.3 percent in June. The Industrial output in France recorded a gain of 1.6 percent in June. The German Trade Surplus dropped to 16.3 billion Euro in June.

 

 

The Economic Calendar for the rest of the session is very light and we don’t expect much volatility on the market. Investors should be fully aware that potential high-impact data that’s not scheduled to be released may bring higher market volatility.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3410.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

Date : 13th August 2014

 

EURUSD PUSHED ABOVE THE 1.3400 LEVEL AFTER WORSE THAN EXPECTED RETAIL SALES DATA FROM THE UNITED STATES.

 

EURUSD dropped yesterday and closed at 1.3368. Data released yesterday indicated that the ZEW Economic Sentiment dropped sharply to a reading of 23.7 in July. Additionally the ZEW Economic Sentiment in Germany also recorded a sharp drop to a reading of 8.6 from the previous reading 27.1 a month earlier. In the United States the Job Openings hit a 13 year high coming at 4.67 million jobs in June.

 

 

Data released today indicated that the inflation in Germany and France remains weaker. The Industrial Production in the Eurozone fell to a reading of 0.3 percent in June.

 

The Euro rose sharply today after the worse than expected retail sales data from the United States and its currently trading above the 1.3400 mark.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

Date : 14th August 2014

 

EURUSD HOLDING BELOW THE 1.3400 LEVEL AFTER POOR GDP REPORTS FROM THE FRANCE AND GERMANY.

 

EURUSD dropped yesterday and closed at 1.3363. The Industrial Production in the Eurozone dropped to a reading of -0.3 percent in June. Data from the United States revealed that the Retails Sales in the US dropped in July coming at a reading of 0.0 percent making its lowest level since January 2014.

 

 

 

Data from the United States indicated that the trade deficit in the largest economy in the world fell to 41.5 billion in June. The President of the United States Federal Reserve in Atlanta Dennis Lockhart stated yesterday that he sees the first interest rate hike in the middle of 2015 or later.

 

Data released today indicated that the German Preliminary GDP report for the second quarter of 2014 came out worse than the market expectations at a reading of -0.2 percent. The Preliminary GDP report from France also came worse than expected at a reading of 0.0 percent. The Eurozone’s Flash GDP dropped to 0.0 percent in the second quarter of 2014.

 

Data from the United States showed that the Unemployment Claims during the last week came out closer to the market expectation at a reading of 311K.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

 

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

Date : 15th August 2014

 

EURUSD HOLDING LOWER AFTER WORSE THAN EXPECTED SECOND QUARTER FLASH GDP DATA.

 

EURUSD dropped yesterday and closed at 1.3364. The German GDP in the second quarter of 2014 drooped to a reading of -0.2 percent. The Flash Gross Domestic Product in the Eurozone dropped to a reading of 0.0 percent in the second quarter of the year. Market had expected a drop to a level of 0.1 percent. Data from the United States indicated that the Unemployment Claims rose slightly to a reading of 311K during the last week.

 

 

With the French and Italian bank holidays due to the observance of the Assumption Day today we are expecting the pair to be mostly driven by the US data due on the Economic Calendar. Investors are looking forward for the Producer Price Index and the Preliminary University of Michigan Consumer Sentiment releases due later today from the United States.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

Date : 18th August 2014

 

EURUSD TRADING SIDEWAYS IN THE EUROPEAN SESSION. LIGHT ECONOMIC CALENDAR TODAY..

 

EURUSD rose on Friday and closed at 1.3398. The Michigan Consumer sentiment in the United States dropped to a reading of 79.2 in August marking its lowest level in 9 months. On the other hand the manufacturing output in the largest economy in the world rose 1.0 percent in July. That was the biggest rise since February.

 

 

The session ahead will light on scheduled economic events, but any potential market comments may bring volatility on the market. Investors are focus on the scheduled for tomorrow US headlines including the Consumer Price Index, the Core CPI and the Building Permits releases.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

Date : 19th August 2014

 

EURUSD PRINTING NEW LOWS AHEAD OF THE US CPI AND BUILDING PERMITS DATA.

 

EURUSD dropped yesterday and closed at 1.3362. Bundesbank warned yesterday that the economy in Germany could struggle to regain momentum due to the negative outlook for the European economy. The Trade Balance in the Eurozone failed to meet the market expectation coming at a reading of 13.8B in June. Data from the United States revealed that the NAHB Housing Market Index rose to a reading of 55 in August marking its highest output in 7 months.

 

 

Data released today indicated the Current Account in the Eurozone dropped to 13.1B in June, market had expected a drop to 19.3B.

 

Investors are now looking forward for the CPI m/m , the Building Permits and the Core CPI m/m releases due from the United States.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

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.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

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.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

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.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

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.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

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.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

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.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

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.

 

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

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.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews 10]

Date : 2nd September 2014

 

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

 

EURUSD rose yesterday and closed at 1.3127. The final release of the GDP for the second quarter in Germany showed a contraction to -0.2 percent in line with the market expectations. The Eurozone Final Manufacturing PMI contracted to a reading of 50.7 in August. The Spanish and Italian Manufacturing PMI also recorded a drop coming at readings of 52.8 and 49.8 accordingly. Prospects of potential further sanctions by the European Union leaders against Russia also flooded the market and pressurized the single European currency.

 

Data released today indicated that the Producer Price Index dropped -0.1 percent on a monthly basis in July.

 

Investors are now looking forward for the US ISM Manufacturing PMI due later today.

 

Support for the EURUSD is seen at 1.3109 and resistance is seen at 1.3191.

 

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.