EUR/USD edges lower in quiet trading, but disappointing European factory data weigh on the single currency - General

thenews 2014.07.11 16:21 #1251

EUR/USD edges lower in quiet trading

The euro edged lower against the dollar on Friday in a session void of major economic indicators, though Thursday's disappointing European factory gauges continued to weigh on the single currency.

In U.S. trading, EUR/USD was down 0.05% at 1.3601, up from a session low of 1.3592 and off a high of 1.3624.

The pair was likely to find support at 1.3589, Thursday's low, and resistance at 1.3651, Thursday's high.

Disappointing euro zone factory data released Thursday continued to water down the euro on Friday.

Italy's industrial output unexpectedly fell 1.2% in May from April, defying expectations for a 0.2% expansion, while French industrial production plunged 1.7% in May, also confounding expectations for a 0.2% gain.

Financial concerns also pressured the euro down against the dollar.

The parent company of Portugal's largest bank, Banco Espírito Santo, said it missed payments on commercial paper to a few clients, which spooked markets by fueling concerns surrounding the soundness of the banking sectors in Portugal as well as in Spain and Italy.

Meanwhile in the U.S., solid jobless claims numbers released on Thursday managed to edge the greenback over the euro on Friday.

The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending July 5 declined by 11,000 to 304,000. Analysts had expected jobless claims to hold steady at 315,000 last week.

Elsewhere, the euro was up against the pound, with EUR/GBP up 0.11% at 0.7952, and down against the yen, with EUR/JPY down 0.08% at 137.80.

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GBPUSD news EUR/USD edges higher after Press review

sherif 2014.07.11 20:19 #1252

we r still around 1.3600 again and below 1.3620 between the strong two lines honestly i dont know what is the matter with this pair

thenews 2014.07.12 08:03 #1253

EUR/USD forecast for the week of July 14, 2014

The EUR/USD pair tried to rally during the course of the week, but as you can see gave back quite a bit of the gains in order to form a shooting star. Nonetheless, the market seems to be stuck between the 1.35 level as support, and the 1.37 level as resistance. The resistance above should extend all the way from 1.37 to the 1.3750 level. Ultimately though, if we can break out of that range, we should continue to make a longer-term move. If it’s to the upside, we go to the 1.40 level, but to the downside below the 1.35 level, we would head to the 1.33 region.

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Press review EURUSD Technical Analysis 2014, Something Interesting in Financial

thenews 2014.07.12 18:23 #1254

Number of EU banks down in 2013: ECB

The number of domestic banks and credit institutions in Europe and the eurozone declined in 2013, confirming a down-trend seen for a number of years, new data showed on Friday.

According to data compiled by the European Central Bank, the number of banks and credit institutions in the European Union fell to 198,744 in 2013 from 217,699 in 2012.

In the single currency area, the number fell to 163,171 from 171,792.

"The structural indicators show that, in most EU Member States, the downward trend in the number of branches and bank employees of domestic credit institutions observed in previous years has continued," the ECB said in a statement.

In the EU, the number of people employed by banks fell to 2.93 million in 2013 from 3.027 million in 2012.

In the eurozone, the number fell to 2.027 million from 2.113 million.

The ECB calculated that the total assets of domestic banks and credit institutes in the EU amounted to 2.289 trillion euros ($3.1 trillion) in 2013, down from 2.742 trillion in 2012.

In the 18 countries that share the euro, the total assets declined to 1.132 trillion euros from 1.444 trillion euros, the data showed.

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Eurozone: unemployment at 7.3%; German central bank cuts [Archive] FOREX - Trends,

thenews 2014.07.13 05:56 #1255

EUR/USD Forecast July 14-18

EUR/USD settled in range in a week that saw fear return to the markets. Industrial production, Draghi’s testimony, German ZEW Economic Sentiment and ZEW Economic Sentiment, inflation data are the highlights of this week. Here is an outlook on the highlights of this week and an updated technical analysis for EUR/USD.

A shareholder in a major Portuguese bank missed a debt payment and the fear that gripped the markets already triggered a delay of some bond auctions in neighboring Spain. While the situation seems contained, we were reminded that the debt crisis is not fully resolved. Also the weak industrial output data weighed on the euro. In the US, we received more good news from labor market indicators, yet markets are still uncertain about the timing of the US rate hike, and that was not helpful to the greenback. The odds seem stacked against the pair, but the range is well maintained. Will we see a breakout now?

Updates:

Industrial Production: Monday, 9:00. Eurozone industrial output increased more than expected in April, rising by 0.8%, following a 0.4% decline in March, beating forecasts for a 0.5% rise. The main contributor to this rise was a 2.5% increase in energy products, non-durable consumer goods by 2.1% and intermediate goods by 0.6%. A smaller rise of 0.3% is expected this time.
German ZEW Economic Sentiment : Tuesday, 9:00. Business sentiment in Germany worsened further in June, falling to 29.8 from 33.1 in May, despite expectations for an increase to 33.4. However, Current assessment index tracking edged up to 67.7 points from 62.1 in April. Economic moral is expected to improve in July after the ECB’s actions as well as encouraging forward-looking economic indicators. Meanwhile, economic sentiment in the Eurozone climbed to58.4 from 55.2 posted in May. However, the rise was below expectations of 59.6. German sentiment is expected to rise to 33.4 and sentiment in the Eurozone is predicted to rise further to 62.3.
Italian Trade Balance: Wednesday, 8:00. Italy’s trade surplus contracted more than expected in April, reaching a surplus of €3.505 billion from €3.886 billion recorded a month earlier. Analysts expected a higher surplus of €4.27 billion. Exports increased 2%, year-on-year, while imports declined 2.9% in the month. Italy’s trade surplus is expected to decline further to €3.23 billion.
Trade Balance: Wednesday, 9:00. The euro zone’s trade balance widened less-than-expected in April reaching 15.8 billion, following 15.4 in the previous month. Analysts expected the Eurozone trade balance to reach 15.9 billion. The euro zone’s trade balance is expected to expand further to 16.3 billion.
CPI: Thursday, 9:00. According to the initial, flash publication, the euro-zone’s consumer price index remained unchanged at a y/y level of 0.5% - rock bottom. However, core CPI edged up to 0.8% y/y. These numbers are expected to be confirmed in the final read. These low levels are troublesome for the ECB. The effects of the new policy measures are still to be seen.

Euro Dollar Rate Forecasts Press review Market Condition Evaluation based

削除済み 2014.07.13 10:35 #1256

Forex trading outlook for the week ahead. Active calendar with Yellen te4stimony the highlught. Watch EURUSD 1.36 as it wills et its tone

https://www.youtube.com/watch?v=_nhVEWN_l8c

thenews 2014.07.13 15:26 #1257

EUR/USD weekly outlook: July 14 - 18

The euro was almost unchanged against the dollar on Friday as concerns over a major Portuguese lender eased, curbing safe haven demand for the greenback.

EUR/USD was at 1.3606 late Friday, little changed for the day.

The pair was likely to find support at 1.3575 and resistance at 1.3650, Thursday’s high.

Worries over the fiscal stability of Portugal’s largest lender, Banco Espirito Santo, fuelled a sharp selloff in markets on Thursday, amid fears over the risk of contagion.

Concerns eased after Portugal’s central bank said Friday it was satisfied that the bank is able to fulfill its capital requirements.

The single currency remained under pressure as a slew of weak economic data on Thursday fuelled concerns over the outlook for the recovery in the region.

Italy's industrial output unexpectedly fell 1.2% in May, official data showed. Meanwhile, French industrial production plunged 1.7% in May and inflation rose by just 0.6%, the lowest level since November 2009.

The dollar fell to one week lows against the euro earlier in the week after Wednesday’s minutes of the Federal Reserve’s latest meeting indicated that interest rates are unlikely to rise soon.

The minutes of the central bank’s June meeting showed that officials agreed to end the bank’s asset purchase program in October, but revealed little new information on when rates could start to increase.

Officials said policy depends most “on the evolution of the economic outlook.”

In the week ahead, investors will be watching testimony on monetary policy by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Press review My forecasts by EURUSD, EURUSD Technical Analysis 2014,

felix jacob 2014.07.14 07:17 #1258

theNews:
The euro was almost unchanged against the dollar on Friday as concerns over a major Portuguese lender eased, curbing safe haven demand for the greenback.