|
|
|
|
2013-06-19 03:31 GMT
EUR - Lifted by Stronger Investor Confidence
The euro traded higher against all of the major currencies today thanks to the improvement in Eurozone and German investor sentiment. The Eurozone ZEW survey rose to 30.6 from 27.6 and while investors grew less optimistic about current conditions in Germany, their confidence in future conditions improved with the expectations component of the German ZEW rising to 38.5 from 36.4. With the European Central Bank taking additional steps to stimulate the economy, this data indicates that investors are looking for a stronger recovery. In a farewell conference for Bank of Israel Governor Stanley Fischer today, European Central Bank President Mario Draghi talked about ECB monetary policy. He said the central bank would consider non-standard measures including the possibility of negative deposit rates. Draghi said, "We will look with an open mind at these measures that are especially effective in our institutional setup and that fall within our mandate." Yet he warned that these non-standard measures could also lead to unintentional consequences. Parts of the Eurozone have been unresponsive to monetary policy and Draghi has set to regain its steering capacity. He pointed out that the introduction of non-standard policy measures along with standard measures helped prevent the materialization of deflation risk.
The euro has been rising this year as confidence in the Eurozone is restored. Draghi also said that the exchange rate is "important for growth and price stability." Survey data suggest some recovery in the Euro-zone but from low levels and as such "monetary policy will remain accommodative for as long as necessary." The central bank will "monitor very closely all incoming information on economic and monetary developments and stand ready to act if necessary." No major Eurozone economic reports are scheduled for release tomorrow, letting the market focus on FOMC. -FXstreet.com
|
|
2013-06-19 08:30 GMT
UK. Bank of England Minutes
2013-06-19 18:00 GMT
USA. Fed Interest Rate Decision
2013-06-19 18:30 GMT
USA. Fed's Monetary Policy Statement and press conference
2013-06-19 22:45 GMT
New Zeland. Gross Domestic Product (QoQ) (Q1)
|
2013-06-19 04:38 GMT
EUR/USD technical set up favors further upside ahead of FOMC
2013-06-19 03:37 GMT
GBP/JPY trapped inside the 149.50/148.50 range
2013-06-19 03:36 GMT
Bernanke not likely to backtrack on previous tapering comments - NAB
2013-06-19 03:03 GMT
EUR/AUD edging higher towards 1.4200
|
|
|
|
|
|
EURUSD
|
HIGH
1.34023
|
LOW
1.33847
|
BID
1.33906
|
ASK
1.33911
|
CHANGE
-0.03%
|
TIME
08:30:42
|
|
|
|
|
OUTLOOK SUMMARY
Up
|
TREND CONDITION
Upward
penetration
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
High
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 1.3402 (R1) is required to push the price towards to our next visible targets at 1.3424 (R2) and 1.3445 (R3).
Downwards scenario: On the other hand, the 1.3381 (S1) mark is a key support level on the downside. Below here is a route towards to next supports at 1.3360 (S2) and 1.3339 (S3).
Resistance Levels: 1.3402, 1.3424, 1.3445
Support Levels: 1.3381, 1.3360, 1.3339
|
|
GBPUSD
|
HIGH
1.56443
|
LOW
1.56177
|
BID
1.56325
|
ASK
1.56331
|
CHANGE
-0.06%
|
TIME
08:30:43
|
|
|
|
|
OUTLOOK SUMMARY
Down
|
TREND CONDITION
Upward
penetration
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
High
|
|
|
|
Upwards scenario: The recent price acceleration on the downside suggests a possible recovery action. Next on tap is resistive barrier at 1.5657 (R1) on the way towards to higher targets at 1.5677 (R2) and 1.5697(R3).
Downwards scenario: If the price failed to overcome our next resistance level we expect further market decline below the support level at 1.5616 (S1). Our intraday targets locates at 1.5597 (S2) and 1.5578 (S3).
Resistance Levels: 1.5657, 1.5677, 1.5697
Support Levels: 1.5616, 1.5597, 1.5578
|
|
USDJPY
|
HIGH
95.664
|
LOW
95.177
|
BID
95.336
|
ASK
95.339
|
CHANGE
0.01%
|
TIME
08:30:43
|
|
|
|
|
OUTLOOK SUMMARY
Up
|
TREND CONDITION
Upward
penetration
|
TRADERS SENTIMENT
Bullish
|
IMPLIED VOLATILITY
Medium
|
|
|
|
Upwards scenario: Current price setup might suggest volatility increase in near term perspective. If the price get acceleration on the upside and manages to surpass our resistive measure at 95.66 (R1), we would suggest next targets at 95.96 (R2) and 96.26 (R3).
Downwards scenario: Fractals level at 95.05 (S1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 94.75 (S2). Final support for today locates at 94.45 (S3).
Resistance Levels: 95.66, 95.96, 96.26
Support Levels: 95.05, 94.75, 94.45
|
|
|
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.
|
|
