In the day today, all eyes were upon the sale of bonds worth 1,200 billion euros in Greece. With complete success in the placement of debt, the findings have made it clear that sales far exceeded expectations, recording an oversubscription in letters at 1 year and 6 months, with key Hellenic government’s decision to use or not the plan bailout approved by the European Commission the previous weekend. However, at the junction EUR / USD the first reaction was a correction of 55 pips, while the EUR / GBP the decreases were 40 pips.
Among other things, we learned that the Consumer Price Index (CPI) monthly and annualized in Germany. According to the Bureau of Statistics, inflation was in line with expectations, as it fell by 0.5% in the monthly rate, while the year was 1.1%. It has also been reported that the Housing Price Index UK DCLG grew annually by 7.4%, 1.2% above the previous figure but 0.2% below forecasts, while the trade balance registered a deficit of 2.1 billion pounds, reflecting the slow recovery of British foreign trade.
For the next few hours, the eyes will be on the trade balance and the price index of new homes in Canada, the Trade Balance and Consumer Confidence ABC / Washington Post U.S. and New Zealand retail sales.
On the other hand, increase the prospects for the Chinese government might let its currency fluctuate, the yuan. In the market, traders estimated that the Asian currency could leave the exchange rate fixed at 6.82 for the June 30, after the United States repeatedly asked to appreciate its currency after seriously affect American foreign trade. For next week, be alert to the meeting between top leaders and how they impact on their respective currencies. For their part, Asian economies will grow by 7.5% in 2010, fueled mainly by increases in China’s GDP (9.6%) and India (8.2%), according to predictions from the Asian Development Bank (ADB) released today in Beijing. The ADB forecast for China, reflecting a growth of the third world economy of 9.6% in 2010 and 9.1% in 2011.
In the securities area, the old continent selective closed the session lower, after the metal Alcoa Inc. will publish quarterly profits lower than expected, which shrink optimism about a good start of the “Q earnings.” For this week, the most important results are those of JP Morgan Chase, Bank of America and General Electric. In Europe, the floor of the old continent operates downwards, while in the U.S., Wall Street futures foretell an early session losses.
With regard to raw materials, a barrel of West Texas oil (WTI) is listed at this time to 83.62 dollars on the New York Mercantile House (NYMEX). Since the beginning of the session, the black gold is depreciated 0.8%, registering a 84.26 daily maximum and minimum at 83.43 dollars. For the next hour, mindful of the Inventory API weekly U.S. oil, which recorded an increase could lead to the black gold to the bearish target located in the 83.00 dollars. The Bull, the next roof is in the 38.2% fibo drawn between the maximum and minimum of 83.74 U.S. dollars today. Mindful that it could increase the demand for dollars as the value of shelter if the quarterly results today do not meet U.S. expectations.
Levels and key trends:
EUR / USD (euro against the dollar): The euro yesterday managed to maintain for the environments of 1.36 dollars per euro, is now inviting the European currency could progress. The aim will exceed maximum yesterday to try to beat the 1.37, opening the possibility of breaking the 1.38, the key level for a major correction. A lower, losing 1.36 definitely could slide to the crossing to close the gap reaching up to 1.35. Once there, you may continue to seek to break the Moving Averages (MM) of 200 days in an hour searching the barrier of 1.34.
USD / JPY (dollar against the yen): The pair seems not to have endured over the 23.6% fibo, which is by sliding it toward its next target in the 92,172. The area is very significant because it also coincides with the setbacks 38.2. This could be making a pullback on the 23.6% fibo. The next step would be to lose the 93 to make new lows intraday. The Bull, one can think that has consolidated over 93, and the next step is to pull himself up to 93,324, seeking to reach the highs of yesterday.
GBP / USD (Pound against the dollar): The pound has managed to form a good support in the environments of 1.5337, which has led to intraday highs on the way to 1.54. The goal for today is to finish above 1.55, and this is going to cross with a figure bassist in the form of HGH use, at 1.4560/86. Apart from these two levels, do not get pull himself up from the 1.5381 1.54 will remain. In this case, the objective will lose 1.5337, for moving to the area of 1.5276 along with the MM 200 days in one hour.
XAU / USD (ounce of gold against the dollar): The yellow metal has taken a pretty big break after correction. That it has formed a support in 1150, so you can make new highs retry. The goal for today could be the 1160. A low, losing the 1150 slides into the next area of control over 1141. If gold loses much force could be up to 1139.
Opportunities of the day:
USD / CAD (Canadian dollar against the U.S. dollar): The pair is again close to parity, although it seems you need more than good news to break. That is, is receiving positive and negative macroeconomic news, so when you receive a number followed by higher than estimated, would lose parity. For today, not to hold the 1.0038 support will make the crossing to slide up to 1.0012. It depends on the strength of the loonie whether he will or not until equality. Upward 1.0038 hold on, could make for a boost up to 1.0050. Once there, the goal will be located at the top yesterday.
EUR / JPY (euro against the yen) is catching the yen against the euro after the yield in the last days. Higher, the price could move back again after closing the gap. The lens is located on the 128, but also might find some resistance at 127.39. A lower, down more than the 126.40, it could bring a new slide to the 125.84. A great strength of the market could look less like the 125.71 media.