|
|
|
|
2012-06-01 06:00 GMT
Spain contradicts the ECB, the EU, and the IMF
Equity markets in North America were mixed today with US equities flat while Canadian equities came in moderately positively (+0.72%). The catalyst in Canada was strong bank earnings: Canadian financial companies posted strong earnings over the past week and the sector rebounded accordingly today. Canadian financials were up by 1.55% (banks by 1.9%) while US financials were up by a more modest 0.85% (banks by 1.4%). Oil and Gas stocks held up moderately well in Canada (+0.11%) considering that WTI for delivery in July sold off by 1.4% and is currently trading at US$86.58/bbl.
Europe is clearly taking center stage at the moment, with headline like the FT website’s banner “Spain Reveals €100bn Capital Flight” garnering deserved attention (the details of the Banco De Espana study cited by the FT are slightly less bad: the capital flight occurred during Q1. But that leaves open the question ‘how much capital fled in Q2?’). With Europe gaining so much media space, we thought it might be worth turning the reader’s attention to data released in the US today which might have been overlooked – which were unfortunately rather bleak.
Read More
|
|
2012-06-01 07:58 GMT
EU - Purchasing Manager Index Manufacturing
2012-06-01 08:28 GMT
UK - Purchasing Manager Index Manufacturing
2012-06-01 09:00 GMT
EU - Unemployment Rate
2012-06-01 12:30 GMT
US - Nonfarm Payrolls
|
2012-06-01 05:49 GMT
EUR/USD flat, eyes on EU PMI
2012-06-01 04:43 GMT
GBP/USD inches back to down, focus on BoE
2012-06-01 04:27 GMT
EUR/USD below 1.2350 ahead of Irish vote count
2012-06-01 03:58 GMT
No longer favouring USD/JPY longs - Standard Chartered
|
|
|
|
|
|
|
|
|
|
SUMMARY
Down
|
TREND
Down
trend
|
MA10
Bearish
|
MA20
Bearish
|
STOCHASTIC
Overbought
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
EUR is oversold (RSI = 23) and the market is extremely one sided, leaving the currency vulnerable to short covering. Still the downward trend is strong (not to mention expensive to fight) and accordingly trading with the trend is likely the only near‐term alternative. Technical indicators are bearish, major signals still in sell territory and downward trend strong. Ignore RSI. Supports are seen at the 21-DMA lower Bollinger level at 1.2305 and then at 1.2190. On the other hand, resistance levels are seen at 1.2460, 1.2572 which is the 10-DMA line.
-
|
|
|
|
|
|
SUMMARY
Down
|
TREND
Down
trend
|
MA10
Bearish
|
MA20
Bearish
|
STOCHASTIC
Overbought
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
Signals continue to be bearish, major signals in sell territory; a close above 1.5641 would be a warning. Supports are seen at 1.5419/15 and then at 1.5327. On the other hand, resistance levels are seen at 1.5637 and then at 1.5671 which is the 10-DMA line.
-
|
|
|
|
|
|
SUMMARY
Down
|
TREND
Down
trend
|
MA10
Bearish
|
MA20
Bearish
|
STOCHASTIC
Overbought
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
USDJPY continues to trend lower, data was mixed and even with USDJPY below 79.00, the BoJ and MoF appear to only be watching; however support at the 200‐day 78.63 looms. Technicals all read bearish, major signals in sell territory and strong downward trend. The USD trended lower throughout the session and fell below the key 200-DMA line at 78.63. In terms of technical levels, supports are seen at 78.30/18, while resistance levels are noted at 79.13, then at the 10-DMA line at .79.38
-
|
|
|
MARKET INFORMATION AND OPINIONS: Any information provided by FXCC
on this newsletter, including but not limited to news, research, opinions, analyses
and prices, is provided as commentary on the Forex market generally -- in other
words, it is not, and should not be considered as, investment advice. Consequently,
FXCC shall not be liable for any loss or damage, including but not limited to loss
of profits, which arises directly or indirectly from reliance upon or use of information
contained on this newsletter.
RISK WARNING: Trading in Forex and Contracts for Difference (CFDs) is highly speculative
and involves substantial risk of loss. It is possible to lose all your capital.
Forex and CFDs may not be suitable for all investors. Only invest with money you
can afford to lose. Please ensure you fully understand the risks involved before
investing. Seek independent advice if necessary.
|
|
