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Daily technical and fundamental analysis for EURUSD, USDJPY and Oil.

Written by Imran Allana

Forex Analysis - 6th January 2015

EURUSD technical analysis

EUR/USD opened the Asian trading session at 1.1932 after recovering from 1.1887 overnight as long-dated treasury yields fell sharply and as USD/JPY led USD broadly lower. Dipping to 1.1927 early, it grinded higher still to 1.1955 with the move higher in AUD/USD keeping the USD on the defensive. Sentiment remains decidedly bearish however, with uncertainties surrounding the Greek election on January 25th and ECB policy on January 22nd.

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Financial Calendar

United Kingdom & Euro Zone

Tuesday 4th August 2015

Time Location Indicator Period Unit Forecast Previous Actual
03:30 Australia High indicator importanceRetail Sales mm August % 0.5 0.3 0.7
  Retail Sales mm Importance:
High indicator importanceHigh
03:30 Australia Medium indicator importanceTrade Balance August Bln $ -3.06 -2.75 -2.93
  The difference between exports and imports of goods and services. Importance:
Medium indicator importanceMedium
06:30 Australia High indicator importanceRBA Rate Decision August % 2 2  
  The Reserve Bank of Australia's Cash Rate Target decision has a huge influence on its financial markets. Changes in rates affect interest rates in consumer loans, mortgages, and bond rates. Importance:
High indicator importanceHigh
06:30 Australia High indicator importanceRBA Statement August        
  No Description Given Importance:
High indicator importanceHigh
08:00 United Kingdom High indicator importanceNationwide House Price m/m July % 0.4 -0.2  
  Gauge for costs of homes in the United Kingdom. Measured on a monthly basis Importance:
High indicator importanceHigh
08:00 United Kingdom High indicator importanceNationwide House Price y/y July % 3.5 3.3  
  Gauge for costs of homes in the United Kingdom. Measured on a yearly basis Importance:
High indicator importanceHigh
10:30 United Kingdom Medium indicator importancePMI - Construction July Idx 58.4 58.1  
  PMI Construction Importance:
Medium indicator importanceMedium
11:00 Euro Zone High indicator importanceProducer Price Index (PPI) m/m June %      
  The Producer Price Index (PPI) is a family of indices that measures the monthly average change over time in the selling prices received by domestic producers of goods and services Importance:
High indicator importanceHigh
11:00 Euro Zone Medium indicator importancePPI y/y June % -2.2 -2  
  Measures changes in the selling price producers charge for goods and services, and tracks how prices feed through the production process. Measured on a yearly basis. Importance:
Medium indicator importanceMedium
14:55 United States Low indicator importanceRedbook mm w/e % 0.1    
  An index that reflects the same-store sales of a group of companies that account for roughly 85% of the department store category in the Census Bureau's monthly retail sales report. Importance:
Low indicator importanceLow
14:55 United States Low indicator importanceRedbook yy w/e % 1    
  An index that reflects the same-store sales of a group of companies that account for roughly 85% of the department store category in the Census Bureau's monthly retail sales report. Importance:
Low indicator importanceLow
15:30 Canada Medium indicator importancePMI July Idx   51.3  
  Purchasing managers index Importance:
Medium indicator importanceMedium
16:00 United States High indicator importanceDurable Goods Orders June %   3.4  
  Durable Goods are manufactured goods that generally offer a long utility (lasting longer than at least one year) Importance:
High indicator importanceHigh
16:00 United States Medium indicator importanceFactory Orders June % 1.8 -1  
  Dollar volume of new orders, shipments, unfilled orders and inventories as reported by domestic manufacturers Importance:
Medium indicator importanceMedium
16:00 United States High indicator importanceDurable Goods Orders Ex. Transport June %   0.8  
  No Description Given Importance:
High indicator importanceHigh
00:45 New Zealand High indicator importanceEmployment Change August %   0.7  
  No Description Given Importance:
High indicator importanceHigh
00:45 New Zealand High indicator importanceUnemployment Rate August %   5.8  
  Percentage of total work force that is unemployed and actively seeking employment during the previous month. Importance:
High indicator importanceHigh


U.K. unemployment boosts demand for the pound

Written by easy-forex team

Weekly Outlook - 18th May 2015

Labour market data from the United Kingdom revealed that the unemployment rate continued mov-ing downwards and kept the sterling on the same uptrend it began during the general elections near-ly two weeks ago and unexpectedly resulted with a Conservative party majority.

The report released by the Office of National Statistics (ONS) showed that 202,000 new jobs were filled during the first quarter of 2015, and that the unemployment rate for the same period fell to 5.5% compared to 5.6% during the previous quarter. The encouraging data provided the markets with further confidence that the labour market is continuously improving, and therefore boosted demand for the British pound. But although last week’s data pointed to an improving British econo-my, Bank of England (BOE) Governor Mark Carney sounded rather concerned about the inflation levels during the BOE inflation report on Wednesday. Mark Carney’s comments haven’t really re-versed the GBP/USD’s upward trend, but maybe what he wanted to achieve was to stop the cur-rency pair from swiftly climbing back to the 1.60 level seen during November 2014. Moreover, the BOE’s dovish view of British inflation keeps blocking forecasts for an interest rate hike and could result in a sterling sell off. The GBP/USD on Wednesday gained by 0.4%, and previously on Mon-day it rose by 0.9%. On a weekly basis GBP/USD climbed from 1.54362 to 1.57265 and disap-pointed those who were expecting a pull back of the rate after the general elections.

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