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2012-12-03 09:47 GMT
Spain makes formal request for EU funds to recapitalize ailing banks
Spain has formally requested aid for its ailing banking sector on Monday. 36.5 billion euros of bailout funds, including 2.5 billion euros for the “bad bank", are due to be released on December 12.
Four nationalized Spanish banks will be the recipients of the funds: 18 billion will go to Bankia; 9 billion to CatalunyaBanc, 5 billion to Nova Caixa Galicia; 4.5 billion to Banco de Valencia. The release of the aid is expected to be approved by the Eurogroup during their monthly meeting today in the European afternoon.
Even though it is not the full sovereign bailout request awaited by the markets, the news caused the euro to spike to the 1.3075 region, a new six-week high against the dollar. - FXstreet.com
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2012-12-04 10:00 GMT
European Monetary Union.Producer Price Index (YoY) (Oct)
2012-12-04 14:00 GMT
Canada.BoC Interest Rate Decision (Jan 4)
2012-12-04 14:00 GMT
Canada.BOC Rate Statement
2012-12-04 22:30 GMT
Australia.AiG Performance of Services Index (Nov)
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2012-12-04 05:36 GMT
EUR/GBP in a 10 pip range for last 11 hours above 0.81
2012-12-04 03:20 GMT
EUR/JPY bulls looking for break above 107.65
2012-12-04 01:58 GMT
More EUR/USD gains yet to come - V.Bednarik
2012-12-04 01:10 GMT
USD/JPY double roof materializing at 78.6% Fibo
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EURUSD
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HIGH
1.30645
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LOW
1.30459
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BID
1.30570
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ASK
1.30575
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CHANGE
0.04%
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TIME
08:05:53
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OUTLOOK SUMMARY
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TREND CONDITION
Up
trend
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
High
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MARKET ANALYSIS - Intraday Analysis
We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.3071 (R1). Immediate focus comes on 1.3088 (R1) and 1.3103 (R3) in such scenario.
Resistance Levels: 1.3071, 1.3088, 1.3103
Support Levels: 1.3041, 1.3030, 1.3020
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GBPUSD
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HIGH
1.61024
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LOW
1.60865
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BID
1.60943
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ASK
1.60949
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CHANGE
0.02%
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TIME
08:05:54
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OUTLOOK SUMMARY
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TREND CONDITION
Up
trend
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
High
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Break above the resistance level at 1.6115 (R1) might change market structure and determine medium term uptrend development. In such case, we suggest next targets at 1.6138 (R2) and any further rise would then be targeting to 1.6161 (R3) intraday.
Resistance Levels: 1.6115, 1.6138, 1.6161
Support Levels: 1.6072, 1.6059, 1.6049
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USDJPY
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HIGH
82.249
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LOW
82.042
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BID
82.111
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ASK
82.116
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CHANGE
-0.16%
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TIME
08:05:55
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Down
trend
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
High
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Our next support level stays at 82.06 (S1). Loss here might drive market price towards to next targets at 81.96 (S2) and 81.88 (S3) in perspective.
Resistance Levels: 82.28, 82.46, 82.68
Support Levels: 82.06, 81.96, 81.88
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