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2013-07-08 01:21 GMT
ECB members had heated clash over last rate decision
ECB Governing Council members had a confrontational approach over interest rates at their latest board meeting on Thursday, according to German weekly Der Spiegel, citing no sources, the MNI newswire reports.
Der Spiegel claims to have obtained insights over the dovish views from ECB chief economist Peter Praet, who proposed to cut the benchmark interest rate by 25 bp in the last meeting, an action that ECB President Mario Draghi would have supported.
However, as MNI reports, "seven board members, mainly from northern European member states, were arguing sharply against a rate cut last week, the magazine reported." Der Spiegel reports German Bundesbank President Jens Weidmann, Dutch central bank governor Klaas Knot as well as ECB Executive Board member Joerg Asmussen, as the most notoriously opposed to it.
As is well known, the final decision taken by the board was to unanimously keep the benchmark rate unchanged at 0.5% while providing forward guidance on low rates. Draghi's said that "broad-based weakness in the real economy and subdued monetary dynamics" will keep rates at present or lower levels for an extended period of time.-FXstreet.com
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24h
All. Eurogroup Meeting
2013-07-08 13:30 GMT
EMU. ECB President Draghi's Speech
2013-07-08 14:30 GMT
Canada. Bank of Canada Business Outlook Survey (Q2)
2013-07-08 19:00 GMT
USA. Consumer Credit Change
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2013-07-08 04:59 GMT
Calls to buy USD all over; time to be sellers?
2013-07-08 04:26 GMT
GBP/USD strongly capped below 1.4900
2013-07-08 03:40 GMT
Buy AUD/NZD targeting 1.2130/70 - Societe Generale
2013-07-08 03:38 GMT
AUD/CAD depressed below 0.96 round
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EURUSD
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HIGH
1.28319
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LOW
1.28106
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BID
1.28169
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ASK
1.28173
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CHANGE
-0.11%
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TIME
08:30:00
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Down trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 1.2852 (R1) would suggest next targets at 1.2879 (R2) and 1.2905 (R3).
Downwards scenario: Friday low offers a key support barrier at 1.2805 (S1). Only clear break here would be a signal of possible market easing towards to next targets at 1.2781 (S2) and 1.2757 (S3) in potential.
Resistance Levels: 1.2852, 1.2879, 1.2905
Support Levels: 1.2805, 1.2781, 1.2757
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GBPUSD
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HIGH
1.48824
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LOW
1.48582
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BID
1.48765
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ASK
1.48774
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CHANGE
-0.02%
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TIME
08:30:01
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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
Medium
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Upwards scenario: Upside risk aversion is seen above the next resistance level at 1.4923 (R1). Appreciation above it might lead would enable corrective phase, targeting resistive measures at 1.4962 (R2) and 1.4999 (R3) in potential.
Downwards scenario: On the other hand, if the pair accelerates on the downside and manage to break our next support level at 1.4853 (S1), it is likely to trigger our next support level at 1.4818 (S2) and 1.4782 (S3) later on today.
Resistance Levels: 1.4923, 1.4962, 1.4999
Support Levels: 1.4853, 1.4818, 1.4782
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USDJPY
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HIGH
101.531
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LOW
101.06
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BID
101.095
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ASK
101.100
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CHANGE
-0.08%
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TIME
08:30:02
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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
Medium
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Upwards scenario: Uptrend evolvement remains in power. Further appreciation above the resistive barrier at 101.53 (R1) is liable to next intraday targets at 101.81 (R2) and 102.09 (R3).
Downwards scenario: Possible retracement action might get more stimulus below the support level at 100.87 (S1). Loss here would suggest next intraday target at 100.58 (S2) and any weakening below it would then face final support at 100.28 (S3).
Resistance Levels: 101.53, 101.81, 102.09
Support Levels: 100.87, 100.58, 100.28
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