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2013-06-14 02:15 GMT
Draghi says OMT necessary, effective and within ECB mandate
Mario Draghi defended the Outright Monetary Transactions (OMT) a day after the ECB and the Bundesbank confronted in a public hearing at Germany's top court on the legality of the bond-buying program.
ECB President said the program was necessary, effective and in line with the ECB mandate. He pointed that benefits are 'visible to everybody' across Europe including Germany, in particular, falling bond yields in Italy and Spain.
"It is fully in line with our mandate because it is designed to preserve price stability for the euro area and uses instruments foreseen in the Statute," Draghi said according to the transcript of a video statement after receiving the responsible leadership award 2013 from the European School of Management and Technology in Berlin.
Meanwhile, Draghi urged eurozone leaders to stick reforms and to push for greater integration "to build a stronger economic and monetary union based on shared sovereignty and greater legitimacy".
"For the euro area now to move forward and establish itself on stronger ground, we need all decision makers to take their responsibilities," Draghi said.-FXstreet.com
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2013-06-14 09:00 GMT
EMU. Consumer Price Index (YoY) (May)
2013-06-14 12:30 GMT
USA. Producer Price Index (YoY) (May)
2013-06-14 13:15 GMT
USA. Industrial Production (MoM) (May)
2013-06-14 13:55 GMT
USA. Reuters/Michigan Consumer Sentiment Index (Jun)
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2013-06-14 04:21 GMT
GBP/USD treading water around 1.57 figure
2013-06-14 03:08 GMT
AUD/USD dealing with 0.9600 bids
2013-06-14 01:06 GMT
USD/JPY knocks on 94.50 session lows
2013-06-14 01:06 GMT
EUR/USD, look for highly corrective pullbacks to join bulls - 2ndSkies
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EURUSD
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HIGH
1.33745
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LOW
1.33422
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BID
1.33468
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ASK
1.33474
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CHANGE
-0.21%
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TIME
08:20:56
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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
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: While instrument trades above the 20 SMA, it keeps immediate upside potential. Next resistance is seen at 1.3379 (R1), break above it might extend gains towards to next targets at 1.3412 (R2) and 1.3444 (R3).
Downwards scenario: Failure to establish positive bias today might lead to the recovery action in near term perspective. Next immediate support locates at 1.3305 (S1). Break here is required to enable bearish pressure towards to our targets at 1.3272 (S2) and 1.3239 (S3).
Resistance Levels: 1.3379, 1.3412, 1.3444
Support Levels: 1.3305, 1.3272, 1.3239
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GBPUSD
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HIGH
1.57199
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LOW
1.56943
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BID
1.57021
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ASK
1.57034
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CHANGE
-0.1%
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TIME
08:20:57
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Up
trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: GBPUSD keeps bullish potential. Next hurdle on the upside might be found at 1.5737 (R1). Break here would open road towards to our interim aim at 1.5768 (R2) and enable final intraday resistive measure at 1.5799 (R3).
Downwards scenario: Retracement action might occur below the key support level at 1.5671 (S1). Break here would open road towards to next supportive measure at 1.5639 (S2) and then final supportive bastion could be found at 1.5606 (S3).
Resistance Levels: 1.5737, 1.5768, 1.5799
Support Levels: 1.5671, 1.5639, 1.5606
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USDJPY
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HIGH
95.797
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LOW
94.429
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BID
95.309
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ASK
95.314
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CHANGE
-0.05%
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TIME
08:20:57
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Upward
penetration
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: Instrument resumed consolidation phase from its initial downtrend formation. Resistance level at 95.67 (R1) is a key technical point on the upside. Penetration above it would suggest higher targets at 96.21 (R2) and 96.75 (R3) later on today.
Downwards scenario: Market decline below the supportive mean at 94.38 (S1) might trigger bearish pressure and enable lower target at 93.85 (S2). Final target for today locates at 93.26 (R3) price level.
Resistance Levels: 95.67, 96.21, 96.75
Support Levels: 94.38, 93.85, 93.26
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