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The euro (EUR) moved above its narrow band after yesterday’s Eurogroup meeting. European finance ministers chose Dutchman Jeroen Dijsselbloem as next President and Greece’s new loan payout has been agreed signalling optimism for the single currency. Mr. Dijsselbloem has been praised for trying to reconcile the North South European divide between austerity and growth, as well as transferring attention to more European co-operation. |
§ The US500 (SPX) which tracks the US S&P 500 is expected to gain substantially today after yesterday’s US holiday. Some analysts believe stocks to be in their best level of the past three years with the SPX moving above 1480.
§ Gold (XAU), currently at 1693, has been gaining ground against the US dollar (USD) amid fear of more quantitative easing from the US and now even from Japan, which has aimed at expanding active monetary policy.
§ The US dollar (USD), currently at its highest level against the Japanese yen (JPY) since 2009 has seen volatile trading amid news that PM Abe intends to intervene in asset purchases.
Stay in tune throughout the day with foreign exchange bullets!
| Outlook | . | Pivot | Preference1 | Sentiment2 |
| . | EURUSD | 1.3360 | SHORT @ 1.3360 | 35% of deals buy EUR |
| . | USDJPY | 89.70 | SHORT @ 89.70 | 48% of deals buy USD |
| . | GBPUSD | 1.5895 | SHORT @ 1.5895 | 62% of deals buy GBP |
| . | AUDUSD | 1.0500 | LONG @ 1.0500 | 27% of deals buy AUD |
| . | GOLD | 1697 | SHORT @ 1697 | 58% of deals buy GOLD |
| . | OIL | 93.35 | LONG @ 93.35 | 22% of deals buy OIL |
| Calendar | Currency | Time (GMT) | Event | Forecast |
| . | EUR | 10:00 | German Economic Sentiment | 12.2 |
| . | CAD | 13:30 | Canadian Retail Sales m/m | 0.1% |
| . | USD | 15:00 | US Existing Home Sales | 5.09 M |
| Movers Shakers | |
| AUDUSD | The Australian dollar (AUD) spiked in yesterday’s trading moving to 1.0553 against the US dollar (USD) after it broke from its resistance at 1.0524. The NZ dollar (NZDUSD) followed suit after news of Japan’s monetary stimulus boosted hopes of global demand growth. |
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