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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.
United Kingdom & Euro Zone
Monday 6th July 2015
|08:00||Germany||Industrial Orders m/m||May||%||-0.4||1.4||-0.2|
|The monthly value of new contracts for goods produced by the manufacturing sector. A rising level of Industrial New Orders forecasts increased production and a rising GDP||Importance:
|10:30||Euro Zone||Sentix Index||July||Idx||15||17.1||18.5|
|Gauge of the mood from investors, consumers or businesses. Analysts will often sum up sentiments as either bullish or bearish.||Importance:
|Purchasing managers index||Importance:
|15:45||United States||PMI - Services||June||Idx||54.8||54.8|
|Gauge for the overall performance of the service sector. The Services PMI interviews executives on the status of sales, employment, and their outlook.||Importance:
|Purchasing managers index||Importance:
|16:00||United States||ISM - non manufacturing||June||Idx||56.2||55.7||56|
|ISM Non-Manufacturing is a gauge of business conditions in non-manufacturing industries, based on measures of employment trends, prices and new orders. Though non-manufacturing sectors make up the majority of the economy, the ISM Non-Manufacturing has less market impact because non-manufacturing data tends to be more cyclical and predictable.||Importance:
|00:00||New Zealand||Business Confidence||Qtr2||23|
|A measure of the prevailing sentiment among business leaders. This is based on querying expectations for new orders and impressions on the general economic health.||Importance:
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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