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2013-08-05 00:32 GMT
Australian services sector falls below 40.00, first time since GFC
Earlier on the session it was learnt that the Australian Performance of Services Index (Australian PSI®) fell deeper into the red, this time by 2.1 points to 39.4 in July, suggesting further contraction in activity.
This is the lowest level for the Australian PSI® since March 2009, Ai Group reported, saying that "outside the GFC-related downturn in 2008-09, it is the first time the Australian PSI® has fallen below 40 points."
Ai Group Chief Executive, Innes Willox, said: "The services sector started the new financial year with a disappointing slump in sales and new orders. While recent interest rate cuts have brought some cost relief to Australian businesses and the fall in the Australian dollar is very welcome, their effects are yet to show up in stronger sales. The retail sector reported another sharp contraction in July, while the index for the hospitality sector fell to its lowest level since May 2012. Businesses providing personal and recreation services and health services to consumers are faring better, with both sectors showing a mild expansion in July.
"Activity in the business-oriented services sectors remains weak. The wholesale trade and transport and storage sub-sectors continued to contract in July, in line with low levels of demand from retail, manufacturing and construction. Communications, finance & insurance and property and business services also contracted sharply during July.-FXstreet.com
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2013-08-05 07:58 GMT
EMU. Markit Services PMI
2013-08-05 08:28 GMT
UK. Markit Services PMI (Jul)
2013-08-05 09:00 GMT
EMU. Retail Sales (YoY)
2013-08-05 14:00 GMT
US. ISM Non-Manufacturing PMI
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2013-08-05 05:18 GMT
GBP/USD mustering a modest bounce after five straight down sessions
2013-08-05 04:31 GMT
AUD/USD enters heavy data week oversold and with the world leaning against it
2013-08-05 04:09 GMT
EUR/USD, sellers protect 1.3280 resistance
2013-08-05 03:24 GMT
USD/JPY easing below 99.00
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EURUSD
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HIGH
1.32868
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LOW
1.32635
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BID
1.32788
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ASK
1.32791
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CHANGE
-0.02%
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TIME
08:33:34
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Sideway
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Low
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3293 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets 1.3304 (R2) and 1.3316 (R3).
Downwards scenario: Risk of market depreciation is seen below the next support level at 1.3263 (S1). Clearance here would suggest next intraday targets at 1.3252 (S2) and 1.3241 (S3) in potential.
Resistance Levels: 1.3293, 1.3304, 1.3316
Support Levels: 1.2263, 1.3252, 1.3241
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GBPUSD
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HIGH
1.52969
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LOW
1.5259
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BID
1.52751
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ASK
1.52756
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CHANGE
-0.05%
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TIME
08:33:34
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Upward
penetration
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Low
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Upwards scenario: Market price penetrated above the Friday’s high. On the way is key resistive measure at 1.5309 (R1), break here is required to achieve higher targets at 1.5330 (R2) and 1.5350 (R3).
Downwards scenario: On the downside next challenge is seen at 1.5248 (S1). Breakthrough here would open road for a recovery action towards to our initial targets at 1.5233 (S2) and 1.5212 (R3) in potential.
Resistance Levels: 1.5309, 1.5330, 1.5350
Support Levels: 1.5248, 1.5233, 1.5212
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USDJPY
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HIGH
99.15
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LOW
98.706
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BID
98.771
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ASK
98.776
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CHANGE
-0.17%
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TIME
08:33:35
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Downward
penetration
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
Low
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Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 99.15 (R1) would suggest next targets at 99.32 (R2) and 99.49 (R3).
Downwards scenario: Further recovery phase is limited now to the next supportive barrier at 98.65 (S1). Only loss here would enable our intraday targets at 98.50 (S2) and 98.34 (S3) on the downside.
Resistance Levels: 99.15, 99.32, 99.49
Support Levels: 98.65, 98.50, 98.34
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