XYZ

10 June 2016, 14:28
Mohammad Soubra
0
14
10 June 2016, Time of Writing: 09:00 am

Trader Daily Market Update

  

Major Calendar News
Time (GMT)NameCountryVol.Prev.        Cons.        Sentiment
8:00German Buba President Weidmann SpeaksEURMed.--Hawkish
9:30Consumer Inflation ExpectationsGBPMed.1.8%-Neutral
13:30Employment ChangeCADHigh-2.1K3.1KPositive
13:30Unemployment RateCADHigh7.1%7.1%Neutral
15:00Prelim UoM Consumer SentimentUSDHigh94.794.1Neutral
Vol.: Volatility; Prev.: Previous; Cons.: Consensus


Key Support/Resistance Levels
H4R2R1PivotS1S2
EURUSD1.14451.13721.13311.12581.1218
GBPUSD1.45551.45051.44741.44221.4393
USDJPY107.78107.47106.85106.55105.93
AUDUSD0.74960.74530.74300.73870.7364
USDCAD1.28181.27771.27241.26821.2628


Latest News

The early Asian trade of Friday has seen traders sitting on the sidelines in anticipation of next week's key monetary policy meetings in U.S., U.K. and Japan. The US dollar retained its earnings against all other major counterparts, overnight, as it found support by its weekly initial unemployment claims figures on Thursday, which narrowed doubts over U.S. labor markets and economy. EURUSD is now trading just above 1.3000 handle, GBPUSD and USDJPY have retained yesterday’s closing levels and commodity-linked currencies, AUDUSD and CADUSD, slightly affected by crude oil prices overnight, are now testing 0.7460 and 1.2730 levels respectively. WTI crude futures are now trading with 0.5% losses since the Asian opening, but the week has seen oil prices gain over 3% in total.

Today’s economic calendar continues with Buba’s President Weidmann speech at the Bundesbank Spring Conference in Germany, which will likely add a hawkish tone on monetary and fiscal stability issues. Later on, quarterly Consumer Inflation Expectations are announced by BoE with the previous value of 1.8% being the lowest recorded value since 2003 and the sentiment being negative ahead of a possible coming Brexit. In the afternoon, Statistics of Canada release monthly Employment Change and Unemployment Rate; the latter showing no change in its prediction at 7.1% and the first measure displaying a positive change of 3.1K in the number of employed peopled during the previous month. Lastly, month-to-month Preliminary Inflation Expectations from the UoM are reported, with predictions giving a down-tick to 94.1 from the previous, 12-month highest, revised level of 94.7. However, current conditions seem to be improved in the U.S, as analysts indicated that many households reported earnings growth recently.



Daily Technical Analysis
 Summary:Trend:Momentum:Daily Target:Volatility (14D):
EURUSDSELLSELLOVERSOLD1.122075 Pips
GBPUSDSELLSELLSELL1.4365116 Pips
USDJPYBUYBUYBUY107.89102 Pips
AUDUSDSELLSELLSELL0.737572 Pips
USDCADNEUTRALSIDEWAYSNEUTRAL1.2627-1.2805103 Pips
Daily Technical Analysis is conducted using great proprietary technology based on advanced methods of time-series analysis and custom build technical indicators. Detailed quantitative analysis of the market state on different timeframes let us accurately evaluate current Trend and Momentum. Going further we deduce the daily target from the multiple factors such as long and short term momentum, different volatility measures, mode of market behaviour and other characteristics. For a ranged market we will show a range instead of a single number.


Daily Forecasts
 Spot Price*Last Update1 Day1 Week1 Month
EURUSD1.130010/06/20161.12601.141.13
GBPUSD1.445110/06/20161.44001.451.45
USDJPY107.0510/06/2016106.80107108
AUDUSD0.741510/06/20160.73800.740.74
USDCAD1.272810/06/20161.27801.281.28

*spot prices as of 06:00GMT


Daily Forecasts consists of both technical and fundamental analysis as well as a review of open sources from major FX contributors.

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