Eur/usd - page 255
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German Markit mftg PMI April flash 51.9 vs 53.0 exp
52.8 prev
Softer reading sees EURUSD a tad lower at 1.0677 and EURJPY at 127.90 but EURGBP upto 0.7126 as GBPUSD gets kicked lower
Hiring is still resilient according to Markit but caution justified overall
Eurozone Markit mftg PMI April 51.9 vs 52.6 exp
Eurozone Markit mftg PMI April 51.9 vs 52.6 exp
German consumer confidence is the highest it's been since 2001
Consumer confidence in Germany is at its highest since late 2001, as low inflation buoys households' income expectations, although there were signs of concern about the constant tug-of-war over Greece, a poll showed on Thursday.
"Consumer sentiment in April was mixed. While the consumer climate improved once more, the increase was not quite so marked," market research company GfK said in a statement.
"Income expectations continued to rise, but economic expectations and consumers' willingness to spend fell slightly," the statement said.
"The constant to-ing and fro-ing over Greece's future in Europe is clearly starting to have an effect on consumers."
Looking ahead to next month, GfK's headline household confidence index was forecast to rise to 10.1 points in May from 10.0 points in April.
"That is the highest level since October 2001. The consumer climate in Germany is continuing its uptrend, but at a more muted pace," the statement said.
Sentiment in Europe's top economy is on the rise, as a weaker euro and falling oil prices provide a boost to the country's exporters.
Earlier this week, the German government raised its growth forecast both for this year and 2016.
source
Thank you for the news.
EUR/USD: Pair Safely Above $1.08 After Home Sales Data
New home sales rose by 481,000, while analysts had predicted 515,000, and the actual number is down from last month's 539,000, while the monthly change printed -11.4%, the US Census Bureau advised on Thursday.
Shortly after the release the pair was seen around $1.0750, but soon afterwards accelerated over the $1.0800 mark.
In terms of the other US macro news, initial jobless claims printed 295,000, up 1,000 from the previous week, while the manufacturing PMI came out at 54.2, missing estimates of a 55.7 print.
Earlier in the session, the latest French manufacturing and services PMI numbers disappointed, with the first printing 48.4, down from 48.8 previously and the latter showing 50.8, also weakening from 52.4 in March.
In Germany, the manufacturing PMI eased to 51.9 from 52.8, while the services PMI ticked lower to 54.4 from 55.4 in March.
More news from the macro front in the euro zone came from Spain, with the Spanish unemployment rate remaining very high at 23.78%. Worsening economic figures led to a rally in the EUR/USD pair, which soared around 100 pips from intraday lows.
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Greece will run out of money next Friday if they wont get money from Europe
Markets burst into life as Europe settles in to play
As you've noticed by now, and aptly given my song post in the trading ideas thread, we've taken off and flying highEURUSD upto 1.0866 in rapid time, USDJPY down to 119,30 and GBPUSD once again challenging thwe 1.5080 resistance
AUDUSD trying to breach 0.7800 and USDCAD falling to 1.2133
No news of note that I can see ( not that we've needed much of that this week) but it certainly looks like someone's got a bee in their bonnet to kick off the day's action
Yesterday the EURUSD initially fell but found support again at 1.0680 to turn around and close in the green near the high of the day, shy of the 50-day moving average. Today we may see a phase change in the pair from bearish to recovery as traders position them self’s ahead of today’s Eurogroup meeting. A break above the 50-day moving average can trigger a run up to the 1.1034 resistance level.
German Business Captains' Optimism Remains Strong in April
Business sentiment among Germany's top executives remained high in April, the Institute for Economic Research showed in its Ifo survey on Friday, confirming that the economic upswing that got into gear at the end of last year is continuing.
The headline Ifo Business Climate Index rose to 108.6 during the fourth month of the year, above the 107.9 booked in March.
Analysts had forecast 108.4 points in the reported period. The gauge has shown a rising tendency for the sixth successive month.
Current assessment, expectations
Meanwhile, the Current Assessment sub-survey, indicating current conditions in the euro area's number one economy, booked 113.9 points, after the previous month's revised figure of 112.1 and beat analysts' forecasts.
Moreover, the Ifo Expectations Index - indicating firms' projections for the next six months - booked 103.5, from 103.9 in March, after estimates had called for a reading of 104.5.
German investor confidence balks in April: Zew survey
The closely watched Zew survey from Germany released earlier this week halted its upward trajectory and declined after several rebounds seen over the past months.
The ZEW Economic Sentiment Index, evaluating the economic outlook of about 350 respondents for the six months ahead, fell to 53.3 in the fourth month of the year, down from the previous month when the reading stood at 54.8 points.
Analysts say the main factors behind the recent fall were global growth concerns, and the potential impact of economic woes on the country's exports.
"The German economy is in good shape," Professor Clemens Fuest, president of Zew, said.
"A stable labor market and increasing wages are strengthening confidence and boosting consumption."
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EUR/USD: Pair Swings Lower as EU Leaders See Little Progress on Greece
The pair dropped notably from intraday highs and was trading below $1.0820, unchanged on the day, on news that Greece had still not prepared a comprehensive reforms list, while the time for reaching a deal is running out and there is little progress.
Eurogroup's chairman Dijsselbloem said that "the Eurogroup is still far from where we wanted to be today with Greece."
Malta's Finance Minister Scicluna even called a discussion over the progress of Greece a "complete breakdown in communication."
Jitteriness on currency markets was observed and the pair was jumping up and down, with market participants closely watching developments in Greece.
Investors will now focus on the only major data today, during the US session. Durable goods are expected to post a rise of 0.6% for Match, an improvement over February's -1.4% and core durable goods should also increase 0.3%, after -0.4% previously.
Markets are still underpricing the possibility of September's rate hike by the Federal Reserve (Fed), which is seen on US rate markets. Traders waking up to this fact might offer further support for the greenback.
Earlier in the session, the Ifo business climate improved to 108.6 from 107.9 previously, the Ifo current assessment ticked higher to 113.9 from 112.0 in March, while the Ifo expectations gauge fell slightly to 103.5.
Furthermore, the euro moved higher against the US dollar on Friday as the Greek newspaper Kathimerini reported the country secured €450 million from local authorities.
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