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Eur/gbpTitle:
The euro continues the decline after downbeat Spanish bond sale ahead of ECB rate decision
The European common currency continued the decline today against other majors, affected by the downbeat Spanish bond sale, which raised fears the instability in the debt market might continue, making the financing operations through issuing debt difficult for other highly indebted European nations.
The volatility and rising borrowing cost reflects fears and doubts in addition to fragile confidence, where European and international investors doubt the ability of Spain to pay back the funds borrowed. Therefore, they demand more return in order to bare the additional risks associated with holding Spanish debt.
The Spanish Treasury auctioned today 2.52 billion euros of bonds maturing after two and five years, slightly above the maximum target of 2.5 billion despite the increase in borrowing ...
Title:
Awful EMU PMI Data Hit The Euro
Sunrise Market Commentary
- Fixed Income: German yields set record lows
- Depressing April PMI's and unemployment data in the EMU set the tone for a risk off session. Core bonds surged higher and the German Bund future reached a new record high. In the US session, US equities rebounded and triggered profit taking in US treasuries. German bonds stayed near the highs however.
- Currencies: Awful EMU PMI data hit the euro
- The focus in currency trading shifted from the US to Europe. On Tuesday, EUR/USD declined due to dollar strength in the wake of the ISM release. On Wednesday, an awful set of EMU data triggered a next selling wave. EUR/GBP continues to set new lows, too. We doubt that the Draghi press conference will be able to change the course of events
The Sunrise ...
Title:
Forex Technical Analysis : 05/03/2012
- Forex Technical Analysis : 05/03/2012 -
(Timeframes: 30 minutes)
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Title:
Technical analysis of the EUR/GBP pair on May 3rd, 2012
Commentary of the EUR/GBP pair:
The pair EUR/GBP has validated yesterday the breakout of the support at 0.8150, offering a new sell signal.
The pair is still moving into a bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positions as far as 0.8180 is resistance.
The breakout of 0.81 will give a new sell signal and open the way towards 0.8050.
In case of return above 0.8180, we will be neutral between this level and 0.8220.
The breakout of 0.8220 will give a buy signal.
See the previous analysis of the EUR/GBP pair of May 2nd, 2012
EUR/GBP Analysis
Title:
EUR/GBP Goes Lower as UK Construction PMI Beats Estimates
The Great Britain pound climbed to the highest level in almost two years against the euro today as better-than-expected macroeconomic data from the United Kingdom was a stark contrast to negative fundamentals in Europe. The currency was flat against the Japanese yen and fell against the US dollar.
The UK construction Purchasing Managers’ Index slipped from 56.7 in March to 55.8 in April. Analysts predicted a drop to 54.1. The index is still close to the March 21-month high and well above the neutral level of 50.0, indicating robust growth. At the same time, reports from Europe left little room to optimism, driving investors away from the euro to the relative safety of the pound.
The Bank of England will hold a monetary policy meeting next week and will announce its policy decision on May ...
Title:
High Yielding Currencies Slip on European-Recession Concerns
High yielding currencies dropped sharply today after the flow of downbeat fundamentals from Europe, where the euro, the sterling pound and the Australian dollar all slumped significantly on fears Europe will slip into deep recession, the thing that supported the low yielding U.S. dollar and Japanese yen to gain strength as more investors hold the currencies to avert risk.
The euro reversed sharply to the downside, pulling other high yielding currencies, where after the downbeat fundamentals from the old continent, pessimism spread widely leaving investors with no appetite for risk, the thing that led them to leave high yielding currencies for wealth protection, leading a sell-off wave across the forex market.
The Manufacturing sector deteriorated sharply in April, led by the largest ...
Title:
European Market Update : 02/05/2012
Major European PMI Manufacturing data disappoints; Weak German jobs data blamed on Easter holiday
Economic Data
(EU) ECB: €606M borrowed in overnight loan facility v €619M prior; €789.3B parked in deposit facility v €794.0B prior (Monday)
(IN) India Apr Markit Manufacturing PMI: 54.9 v 54.7 prior
(DE) Germany Mar ILO Employment (Seasonally Adj): 41.459 v 41.406M prior; Unemployment Rate: 5.6% v 5.6% prior
(SE) Sweden Apr Swedbank PMI Survey: 50.2 v 50.5e
(PL) Poland Apr Manufacturing PMI: 49.2 v 49.5e
(HU) Hungary Mar Producer Prices M/M: +0.2% v -1.3% prior; Y/Y: 6.4% v 6.7%e
(NO) Norway Apr PMI: 53.7 v 57.0e
(TR) Turkey Apr Manufacturing PMI: 52.3 v 49.6 prior
(ES) Spain Apr Manufacturing PMI: 43.5 v 43.6e (three-year low)
(TH) Thailand Central Bank leaves Benchmark Interest Rate ...
Title:
Technical analysis of the EUR/GBP pair on May 2nd, 2012
Commentary of the EUR/GBP pair:
The pair EUR/GBP made a quick pullback on the resistance at 0.82 yesterday to then felt below 0.8150.
The pair is still moving into a bearish channel (purple lines).
All indicators are still bearish.
We continue to advise short positions as far as 0.8180 is resistance.
The breakout of 0.81 will give a new sell signal and open the way towards 0.8050.
In case of return above 0.8180, we will be neutral between this level and 0.8220.
The breakout of 0.8220 will give a buy signal.
See the previous analysis of the EUR/GBP pair of May 1st, 2012
EUR/GBP Analysis
Title:
Forex Technical Analysis : 05/02/2012
- Forex Technical Analysis : 05/02/2012 -
(Timeframes: 30 minutes)
USD/CAD Technical Analysis
AUD/USD Technical Analysis
NZD/USD Technical Analysis
GBP/USD Technical Analysis
EUR/USD Technical Analysis
GBP/JPY Technical Analysis
EUR/CHF Technical Analysis
EUR/JPY Technical Analysis
EUR/GBP Technical Analysis
USD/CHF Technical Analysis
USD/JPY Technical Analysis
XAU/USD (Gold) Technical Analysis
XAG/USD (Silver) Technical Analysis
Crude Oil Technical Analysis
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