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EU Morning Report - Euro still on the offer

Autore: Written by Easy-Forex for Easy-Forex.com




The euro (EUR) recorded losses against most of its major counterparts as the ongoing eurozone debt crisis maintains selling pressure on the single currency. The focus remained on Greece, as the nation prepares for new elections in three weeks time, following the failure of the elected parties to form a coalition government. On the positive side, four major Greek banks have completed their recapitalization via the European Financial Stability Facility (EFSF) and are now able to borrow again from the European Central Bank (ECB). Versus the US dollar, the euro dropped to 1.2521 from 1.2565.

The US dollar (USD) appeared stronger versus a basket of currencies, as US banks were closed in observance of the Memorial Day. Versus the Swiss franc (CHF), the greenback rose to 0.9598 from 0.9562. The 0.9610 area appears to be a significant resistance level and a break through it could open the way for higher highs.

The Australian dollar (AUD) rose to 0.9888 against the US dollar but did not manage to hold on its gains and it closed at 0.9815. The pair had been in a strong downtrend over the past few days but managed to rebound off 0.9689, Thursday’s low.

Oil prices dropped to 90.72 from 90.96 dollars a barrel. Gold (XAU) rose to 1574.79 from 1573.97 US dollars an ounce. Against the euro, gold advanced to 1257.51 from 1254.31 euro an ounce. Silver (XAG) moved down to 28.3875 from 28.6130 dollars an ounce. Stay in tune throughout the day with foreign exchange bullets!

Pivot Preference1 Sentiment2
EURUSD 1.2600 SHORT @ 1.2600 49% of deals buy EUR
USDJPY 79.65 SHORT @ 79.65 82% of deals buy USD
GBPUSD 1.5710 SHORT @ 1.5700 30% of deals buy GBP
AUDUSD 0.9800 LONG @ 0.9800 76% of deals buy AUD
GOLD 1565 LONG @ 1565 83% of deals buy GOLD
OIL 90.80 LONG @ 90.80 93% of deals buy OIL
1 data generated by Trading Central™, 2 data obtained from easy-forex Inside Viewer™
Currency Time (GMT) Event Forecast
EUR All Day
Core Consumer Price Index m/m for May
-0.1%
GBP 10:00 CBI Distributive Trades for May
-7
USD 13:00 Case Shiller 20 m/m for March
0.1%
EUROPE US ASIA3
FTSE 100 0.09% S&P 500 -0.22% NIKKEI 0.28%
DAX -0.26% DJIA -0.60% HIS 0.42%
CAC -0.16% NASDAQ -0.07% CSI 300 0.39%
3 at the time of writing Please note that Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone. In no way is it a recommendation by easy-forex® for you to engage in any trade. The information provided is based on data generated by third party investment research providers. easy-forex® does not assume any liability as to the accuracy of such information. This information shall be used for reference only and it is not binding on easy-forex®. This is not an advertisement or a recommendation in engaging / binding you in any forex transactions.

 


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