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CurrentlyTitle:
Speculation On Grexit Continues To Hammer The Euro
Sunrise Market Commentary
- Fixed Income: Global core bonds profit from euro debt crisis
- Concerns about Greece and Spain underpinned the ongoing rally of global core bonds. The German 10-year yield fell below 1.50%. Intra-EMU yield spreads versus Germany widened substantially. Today, the eco calendar is enticing. If no euro debt crisis news acts as a circuit breaker, the eco data may for once drive the price action.
- Currencies: Speculation on Grexit continues to hammer the euro.
- At the start of the new trading week, the Greek crisis remained the key factor for currency trading. With no visibility on the outcome of the EMU crisis, the easiest way for the euro is south. EUR/USD set a new correction low. EUR/GBP dropped below the 0.8000. This morning, strong German ...
Title:
Dukascopy Morning Forex Overview : 15/05/2012
Fundamental Analysis
EUR
"Industrial producion is a imely reminder that firstquarter GDP will likely show a contracion."
- Marin van Vliet, an economist at ING
Industrial producion in the Eurozone contracted unexpectedly in March, Eurostat data showed on Monday. Producion fell 0.3 per cent from February, when it rose 0.8 per cent.
USD
"The fear factor is definitely higher."
- Madelynn Matlock, a fund manager at Hunington Asset Advisor
U.S. stocks retreated on Monday on a poliical impasse in Greece.
GBP
"I can’t see even after the next Greek election a government appearing that will be able to do anything else than perhaps manage the Greek exit."
- Simon Sole, chief execuive officer of Exclusive Analysis Ltd.
U.K. stocks tumbled on Monday. The benchmark FTSE 100 Index fell 1.97%, or ...
Title:
Gold pares some of the losses, yet remains under pressure
Gold pared some of its losses after falling for three consecutive sessions on Tuesday trading amid political concerns in Greece which is making investor`s wary of buying bullions or risky assets.
On the daily basis, gold is showing a drop where it fell to a low of $1548.33 an ounce yet a rebound on the short-time frames managed to push price up to $1553.97, noting that it opened today`s trades at $1.556.37.
The yellow metal benefited from the better-than-expected German GDP report which showed that the euro area`s biggest economy grew 0.5% in the first quarter, beating expectations of 0.1% expansion.
Yet, the main focus will turn to euro area GDP due at 09:00 GMT, where expectations are in favor of 0.3% drop in the first quarter, following the 0.2% contraction in the last quarter of ...
Title:
Technical analysis of the XAU/USD (Gold) pair on May 15th, 2012
Commentary of the XAU/USD (Gold) pair:
The gold has continued its bearish movement and the breakout of 1578 gave us a new sell signal.
Currently, the gold is testing the next support at 1550 points.
The pair is now moving below the lower band of its medium term bearish channel (purple lines).
All indicators are bearish.
We maintain to trade only short positions as far as 1586 points is resistance.
The breakout of 1550 will both a new sell signal and open the way towards 1520 points.
In case of return above 1586 points, we will wait the breakout of 16 to advise long positions.
See the previous analysis of the XAU/USD pair of May 14th, 2012
XAU/USD Analysis
Title:
Technical analysis of the AUD/USD parity on May 15th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has continued its bearish movement and the breakout of the support at 1.0 gave us a new sell signal.
Currently, the pair is testing a pullback on this leve.
All indicators are bearish.
The pair continues to move into its bearish channel (purple lines) and seems to move into a falling wedge (reversal pattern).
We continue to advise short positions as far as 1.01 is resistance.
The breakout of 0.99 will give a new sell signal and open the way towards 0.98.
In case of return above 1.01, we will wait the breakout of 1.0150 to advise long positons.
See the previous analysis of the AUD/USD parity of May 14th, 2012
AUD/USD Analysis
Title:
Technical analysis of the GBP/USD pair on May 15th, 2012
Commentary of the GBP/USD pair :
The pair GBP/USD is currently testing a pullback on the resistance at 1.61.
Indicators stay globaly bearish.
The pair is still moving above its medium term bullish slant (black line).
We continue to advise short positions as far as 1.6150 is resistance.
The breakout of 1.6050 will give a new sell signal and open the week towards 1.60.
In case of return above 1.6150, we will be neutral between this level and 1.62.
The breakout of 1.62 will give a buy signal.
See the previous analysis of the GBP/USD pair of May 14th, 2012
GBP/USD Analysis
Title:
Technical analysis of the NZD/USD pair on May 15th, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD has continued its bearish movement and the breakout of 0.78 gave us a new sell signal.
Currently, the pair is testing the next support at 0.7754.
The gap is still not filled in.
All indiactors are bullish.
The pair is moving into its former bearish channel (purple lines).
We continue to advise short positions as far as 0.7923 is resistance.
The breakout of 0.7754 will give a new sell signal and open the way towards 0.77.
In case of return above 0.7923, we will be neutral between this level and 0.7970.
See the previous analysis of the NZD/USD pair of May 14th, 2012
NZD/USD Analysis
Title:
Technical analysis of the USD/CAD pair on May 15th, 2012
Commentary of the USD/CAD pair :
The pair USD/CAD made a triple top on the resistance at 1.0050 and is currently moving the support at 0.9887.
Indicators stay globaly bullish.
We continue to advise long positions as far as 0.9965 is support.
The breakout of 1.0050 will give a new buy signal and will open the way towards 1.01.
In case of return below 0.9965, we will be neutral between this level and 0.9931.
The breakout of 0.9931 will give a sell signal.
See the previous analysis of the USD/CAD pair of May 14th, 2012
USD/CAD Analysis
Title:
The havens dominate trading in the Asian session
Euro reached today its lowest in four months against the dollar amid the absence of confidence in financial markets during the political instability in Greece, which is adding to speculation for the first euro exit and the consequences on the market and the 17-nation economy.
The EUR/USD pair fell to record a low of 1.2813 near the lowest in four months, where the pair started the Asian session at 1.2829 after it recorded a high of 1.2837, and currently at 1.2826.
The Australian dollar declined against the U.S. dollar to reach the lowest in four and half months at 0.9944 to trade under parity levels at 1.0000, after recording the high of 0.9984.
Meanwhile, the USD/JPY pair traded within a tight range today during Asian session to record high of 79.92 and low of 79.80, and currently at ...
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