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2013-06-27 00:20 GMT
EU FinMin reach deal on bank resolution rules
EU Finance Ministers reached, at the second attempt, an agreement on the new policy to manage restructuring and liquidation of banks. The deal is part of efforts to establish a banking union, which has as ultimate objective to break the link between bank debt and sovereign debt.
The EcoFin meeting, celebrated ahead of Thursday's EU Summit, agreed what types of creditors must take losses in future banking crises, according to diplomatic sources. The draft document ensures that depositors with savings under €100,000 will be protected from any loss. The agreement has to be now ratified by the heads of state and government at the summit.
German unemployment and Eurozone confidence numbers are also scheduled for release today and the outcome of these reports will impact the market's expectations for ECB policy and in turn the euro. If the data is good, then the central bank's threat to increase stimulus will fall on deaf ears. Just this morning ECB President Draghi reminded everyone that the central bank stands ready to act if necessary. Unfortunately based on the latest PMI numbers, labor market conditions most likely deteriorated in the month of June and if the data is weak, confirming that ECB policy will trail far behind the Fed, the euro could find itself trading closer to 1.29. In terms of confidence, it will be tough call since there has been both strength and weakness in the latest IFO and ZEW surveys. These numbers shouldn't be as important as German unemployment.-FXstreet.com
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2013-06-27 07:55 GMT
Germany. Unemployment Change (Jun)
2013-06-27 08:30 GMT
UK. Gross Domestic Product (YoY) (Q1)
2013-06-27 14:00 GMT
USA. Pending Home Sales (YoY) (May)
2013-06-27 23:30 GMT
Japan. National Consumer Price Index (YoY) (May)
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2013-06-27 04:58 GMT
AUD/CAD, mid/low 0.99 might be retested
2013-06-27 04:54 GMT
GBP/USD bounces from sub-1.53 support
2013-06-27 04:31 GMT
EUR/USD, key day to further define sentiment
2013-06-27 03:52 GMT
AUD/USD, 0.9330/40 still proves challenging
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EURUSD
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HIGH
1.30353
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LOW
1.30046
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BID
1.30350
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ASK
1.30353
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CHANGE
0.18%
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TIME
08:45:58
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OUTLOOK SUMMARY
Down
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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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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Market price penetrated above the moving averages and determined corrective phase from the initial downtrend formation. On the way is key resistive measure at 1.3058 (R1), break here is required to achieve higher targets at 1.3085 (R2) and 1.3112 (R3).
Downwards scenario: On the other hand, we would shift our intraday technical outlook to the negative side if the price manage to penetrate below the next support at 1.3014 (S1). Clearance here is required to enable intraday targets at 1.2988 (S2) and 1.2961 (S3).
Resistance Levels: 1.3058, 1.3085, 1.3112
Support Levels: 1.3014, 1.2988, 1.2961
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GBPUSD
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HIGH
1.5346
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LOW
1.53087
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BID
1.53355
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ASK
1.53356
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CHANGE
0.15%
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TIME
08:45:59
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OUTLOOK SUMMARY
Down
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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: Medium term bias remains negative and possible price appreciation is limited to resistive barrier at 1.5363 (R1). Prolonged movement above that level would suggest next targets at 1.5392 (R2) and 1.5421 (R3).
Downwards scenario: On the downside next challenge is seen at 1.5314 (S1). Breakthrough here would open road for a downside expansion towards to our initial targets at 1.5286 (S2) and 1.5257 (R3) later on today.
Resistance Levels: 1.5363, 1.5392, 1.5421
Support Levels: 1.5314, 1.5286, 1.5257
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USDJPY
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HIGH
97.86
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LOW
97.565
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BID
97.731
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ASK
97.735
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CHANGE
-0.01%
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TIME
08:46:00
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OUTLOOK SUMMARY
Neutral
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TREND CONDITION
Sideway
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
High
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Upwards scenario: USDJPY trapped to the consolidation mode after the initial uptrend development. Next resistive barrier is seen at 97.92 (R1), break here is required to enable next attractive points at 98.14 (R2) and 98.37 (R3).
Downwards scenario: Possible downside expansion is protected by support level at 97.51 (S1), break here would put bullish oriented traders on hold. Marks at 97.28 (S2) and 97.05 (S3) is the next supportive bastion on the way.
Resistance Levels: 97.92, 98.14, 98.37
Support Levels: 97.51, 97.28, 97.05
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