Forex Crunch EUR/USD June 28 Slumps as EU Summit Expectations Fade |
- EUR/USD June 28 Slumps as EU Summit Expectations Fade
- GBP/USD Falls on Recession Confirmation, High Current Account Deficit and Europe
- Nothing going on but the rent
- US Durable Goods Orders +1.1%, Core +0.4% – Mixed Result
- USDJPY Very Bearish – Now Eying 78.60 While Below 80.60 – Elliott Wave Analysis
| EUR/USD June 28 Slumps as EU Summit Expectations Fade Posted: 28 Jun 2012 03:06 AM PDT EUR/USD broke out of yesterday’s (June 27th) narrow range, as the market mood soured prior to today’s EU Summit. The European leaders have plenty of pressing topics to discuss, starting with the alarming fiscal crises in Greece and Spain. As with other grandiose meetings, there is a lot of skepticism if any concrete measures will be announced. There was more bad news as German CPI and employment figures fell below market estimates. There are several key releases today, including a 10-y bond auction in Italy, and US Unemployment Claims. Here's an update on technicals, fundamentals and what's going on in the markets. Read the rest of the article EUR/USD June 28 Slumps as EU Summit Expectations Fade |
| GBP/USD Falls on Recession Confirmation, High Current Account Deficit and Europe Posted: 28 Jun 2012 02:55 AM PDT Pound/dollar fell to new weekly lows on a handful of bad news. The pair now trades around 1.5530 after falling to 1.5527 earlier. It traded above 1.5620 before the bad news was released, so this is a fall of nearly 100 pips. 3 things are behind the fall of the pound. Read the rest of the article GBP/USD Falls on Recession Confirmation, High Current Account Deficit and Europe |
| Posted: 28 Jun 2012 02:12 AM PDT The most remarkable thing about the week so far is just how 'not bothered' markets have been about the EU summit that takes place over the coming two days. This despite the fact that Germany has so far shown none of the signs of signs of compromise or about-turns as it has been prone to do at various stages of the crisis to date. As such, the best that can be hoped for is a bland statement regarding growth, jobs, at most exploring the possibility of some form of common bonds and similar for a banking union. It will be enough to hint that something is being done, but not enough to be actually moving the issue down the road in a meaningful fashion. Read the rest of the article Nothing going on but the rent |
| US Durable Goods Orders +1.1%, Core +0.4% – Mixed Result Posted: 27 Jun 2012 05:31 AM PDT US durable goods orders rose by 1.1%. A rise of 0.5% was estimated. Core orders rose by 0.4%. They were expected to rise by 0.9%. The good news is that orders are rising, and that the headline number was an upside surprise after 4 consecutive disappointments. The bad news is that core orders disappointed and that the overall picture of the US economy is still mediocre. Read the rest of the article US Durable Goods Orders +1.1%, Core +0.4% – Mixed Result |
| USDJPY Very Bearish – Now Eying 78.60 While Below 80.60 – Elliott Wave Analysis Posted: 27 Jun 2012 05:00 AM PDT USDJPY is still very weak since markets opened on Sunday, when market turned sharply bearish from 80.60. When the pair traded very close to wave (C)=(A) levels. We’ll notice that prices now already formed an overlap with 79.29 highlighted in our past updates which suggest that wave (C) of E is finished and that bear market is now taking a control. Read the rest of the article USDJPY Very Bearish – Now Eying 78.60 While Below 80.60 – Elliott Wave Analysis |
| You are subscribed to email updates from Forex Crunch To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment