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2012-11-15 15:08 GMT
Eurozone officially in recession
Third quarter GDP data for the Eurozone published yesterday revealed that the area has once again slipped into recession. According to Eurostat Q3 GDP was down by 0.1%, which is the second consecutive quarterly decline. Only the German and French economies expanded, both by 0.2%. Martin van Vliet from ING comments: “GDP figures clearly demonstrate that the Eurozone economy as a whole is in desperate need of macroeconomic stimulus. With policymakers seemingly reluctant to engineer a coordinated pull-back from fiscal austerity, more monetary stimulus and a weaker currency is likely to be needed to put Eurozone back on a path of sustained growth.”
ECB Governing Council member Luc Coene declared in the European morning that Spain should urgently seek EU aid. European Commissioner for Economic and Monetary Affairs Olli Rehn, who spoke later in the day, assured that the solution to the Greek problem requires a combination of measures, providing the principal amount of its debt does not change.-FXstreet.com
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2012-11-16 10:00 GMT
E. M. U. Trade Balance
2012-11-16 14:00 GMT
United States. Net Long-Term TIC Flows
2012-11-16 14:15 GMT
United States. Industrial Production
2012-11-16 20:45 GMT
United States. Fed's Lockhart speech
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2012-11-16 04:31 GMT
GBP/AUD flat around 1.5350; with bullish scope?
2012-11-16 04:28 GMT
AUD/CAD looking more bearish if below 1.0290
2012-11-16 04:06 GMT
USD/JPY consolidation likely next week - Nomura
2012-11-16 01:31 GMT
EUR/USD bears cap rebound at 1.28
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EURUSD
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HIGH
1.27845
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LOW
1.27645
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BID
1.27681
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ASK
1.27688
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CHANGE
-0.09%
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TIME
08:03:35
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Downward
penetration
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.2786 (R1). Immediate focus comes on 1.2800 (R1) and 1.2814 (r3) in such scenario.
Downwards scenario: Price decline below the next support levels at 1.2759 (S1) might trigger bearish pressure and enable next target at 1.2745 (S2). Further correction development might face final support level at 1.2732 (S3).
Resistance Levels: 1.2786, 1.2800, 1.2814
Support Levels: 1.2759, 1.2745, 1.2732
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GBPUSD
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HIGH
1.58665
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LOW
1.58569
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BID
1.58597
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ASK
1.58604
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CHANGE
-0.03%
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TIME
08:03:36
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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: A medium-term bias is negative now though intraday bullish forces might be activated if the pair penetrates above the resistance level at 1.5868 (R1). Next immediate resistance levels holds at 1.5884 (R2) and 1.5899 (R3).
Downwards scenario: Downside direction is limited by next support level at 1.5841 (S1), price decrease below it would be targeting next supports at 1.5826 (S2) and 1.5810 (S3).
Resistance Levels: 1.5868, 1.5884, 1.5899
Support Levels: 1.5841, 1.5826, 1.5810
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USDJPY
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HIGH
81.268
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LOW
80.973
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BID
81.010
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ASK
81.013
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CHANGE
-0.19%
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TIME
08:03:38
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Downward
penetration
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: While instrument trades below the resistance level at 81.28 (R1), market would try to form correction. Break above it is required to attack the upside target at 81.50 (R2) and 81.70 (R3) in potential.
Downwards scenario: If price would manage to overcome our support at 80.92 (S1) we suggest next targets at 80.70 (S2) and 80.46 (S3).
Resistance Levels: 81.28, 81.50, 81.70
Support Levels: 80.92, 80.70, 80.46
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MARKET INFORMATION AND OPINIONS: Any information provided by FXCC
on this newsletter, including but not limited to news, research, opinions, analyses
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