|
|
|
|
2012-12-04 14:08 GMT
No breakthrough on banking union due to Franco-German dispute
A clash between France and Germany over banking supervision in the Eurozone prevented the Eurogroup from reaching an agreement on the EU banking union on Tuesday. EU finance ministers decided to hold an additional meeting on December 12, just ahead of the EU summit on December 13, by which time a deal on the banking union needs to be made.
France and Germany are divided over the scope of ECB's powers as the Eurozone bank supervisor. France pushes for a solution in which the central bank would regulate all the financial institutions in the region, while Germany would like smaller banks to be excluded from this supervision. Berlin is also not too keen on seeing a full banking union formed that quickly, as it fears it will be obliged to pay for potential future banking losses in other Member States.
German finance minister Wolfgang Schäuble commented on France's proposition saying that there was no possibility for the central bank to supervise so many financial institutions, while his French counterpart Pierre Moscovici stated that the EU cannot introduce a system of dual supervision."We have no mandate for a dual system of supervision which would call into question the existence of a single system for some banks," the French finance minister argued. - FXstreet.com
|
|
2012-12-05 15:00 GMT
United States. ISM Non-Manufacturing PMI (Nov)
2012-12-05 20:00 GMT
New Zeeland. RBNZ Interest Rate Decision
2012-12-05 20:00 GMT
New Zeeland. Monetary Policy Statement
2012-12-05 20:00 GMT
New Zeeland. RBNZ Press Conference
|
2012-12-05 05:42 GMT
GBP/USD moves above 1.61, eyes 1.6130
2012-12-05 04:30 GMT
EUR/USD breaks above fresh 8-week highs
2012-12-05 03:00 GMT
EUR/JPY surges to 8-month highs on Nishimura statement
2012-12-05 04:55 GMT
AUD/USD bears defending 1.05
|
|
|
|
|
|
EURUSD
|
HIGH
1.31253
|
LOW
1.30906
|
BID
1.31074
|
ASK
1.31082
|
CHANGE
0.09%
|
TIME
08:07:22
|
|
|
|
|
OUTLOOK SUMMARY
|
TREND CONDITION
Upward
penetration
|
TRADERS SENTIMENT
Bullish
|
IMPLIED VOLATILITY
High
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
Medium term bias is positive for the pair. Risk of market appreciation is seen above the next resistance level at 1.3116 (R1). Loss here would suggest next target at 1.3129 (R2) and any further rise would then be targeting 1.3142 (R3).
Resistance Levels: 1.3116, 1.3129, 1.3142
Support Levels: 1.3090, 1.3080, 1.3072
|
|
GBPUSD
|
HIGH
1.61185
|
LOW
1.60938
|
BID
1.61062
|
ASK
1.61072
|
CHANGE
0.06%
|
TIME
08:07:23
|
|
|
|
|
OUTLOOK SUMMARY
Up
|
TREND CONDITION
Downward
penetration
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
High
|
|
|
|
Market is forming the right shoulder of the Head and shoulders figure on the hourly chart currently, from our next resistance level at 1.6115 (R1). Above here retracement formation might expand its power towards to resistance levels at 1.6124 (R2) and 1.6138 (R3).
Resistance Levels: 1.6115, 1.6124, 1.6138
Support Levels: 1.6091, 1.6080, 1.6064
|
|
USDJPY
|
HIGH
82.338
|
LOW
81.796
|
BID
82.263
|
ASK
82.268
|
CHANGE
0.45%
|
TIME
08:07:24
|
|
|
|
|
OUTLOOK SUMMARY
Sideway
|
TREND CONDITION
Up
trend
|
TRADERS SENTIMENT
Bullish
|
IMPLIED VOLATILITY
High
|
|
|
|
Instrument moves sideways. In terms of technical levels next resistance level could be found at 82.29 (R1). Appreciation above it might enable next targets at 82.37 (R2) and 82.46 (R3) in potential.
Resistance Levels: 82.29, 82.37, 82.46
Support Levels: 82.16, 82.07, 81.94
|
|
|
MARKETING COMMUNICATION DISCLAIMER: The content of this material is a marketing communication, and not independent investment research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination.
The material is for general information purposes only (whether or not it states any opinions). It does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) legal, financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by FX Central Clearing Ltd. (“FXCC”) or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Although the information set out in this marketing communication is obtained from sources believed to be reliable, FXCC makes no guarantee as to its accuracy or completeness. All information is indicative and subject to change without notice and may be out of date at any given time. Neither FXCC, nor the author of this material shall be responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.
This material may include charts displaying financial instruments' past performance as well as estimates and forecasts. Any information relating to past performance of an investment does not necessarily guarantee future performance.
Unless otherwise stated, the prices used in the examples are FXCC’s own prices, and not those of third parties.
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.
|
|
