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EU Morning Report - Greece vs. Germany for the Euro

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




The euro (EUR) recorded losses against most of its major counterparts as Moody’s intention to downgrade several global investment banks leaked earlier in the day. Late into the US session, the Spanish banks stress test showed that the sector needs about EUR 60 billion of capital, a figure well below the EUR 100 billion discussed in previous weeks. The Eurozone finance ministers meeting held yesterday was completed without any agreement on any major issue. The big challenge on how to manage the sensitive European Stability Mechanism (ESM) seniority issue was not settled, and a resolution will now be postponed until the next EU summit on June 28-29. Versus the US dollar (USD), the single currency dropped to 1.2549 from 1.2679. In a humorous twist of events, Greece will clash with Germany tonight, this time on the football pitch for the Euro 2012 quarter finals.

The US dollar (USD) appeared stronger versus a basket of currencies as risk appetite retreated from the markets. US economic data calendar today is lackluster and markets participants are expected to focus on broader macroeconomic issues. Versus the Japanese yen (JPY), the greenback rose to 80.04 from 79.42.

Oil prices plunged to 78.08 from 80.75 dollars a barrel. Gold (XAU) dived to 1568.00 from 1604.03 US dollars an ounce. Against the euro, gold dropped to 1249.01 from 1265.11 euro an ounce. Silver (XAG) moved down to 26.9850 from 27.9735 dollars an ounce. Stay in tune throughout the day with foreign exchange bullets!

Pivot Preference1 Sentiment2
EURUSD 1.2610 SHORT @ 1.2610 57% of deals buy EUR
USDJPY 80.00 LONG @ 80.00 28% of deals buy USD
GBPUSD 1.5690 SHORT @ 1.5690 5% of deals buy GBP
AUDUSD 1.0100 SHORT @ 1.0100 51% of deals buy AUD
GOLD 1583 SHORT @ 1583 77% of deals buy GOLD
OIL 80.15 SHORT @ 80.15 86% of deals buy OIL
1 data generated by Trading Central™, 2 data obtained from easy-forex Inside Viewer™
Currency Time (GMT) Event Forecast
EUR 07:30 German IFO Business Climate in June
105.9
CAD 12:00 Core Consumer Price Index (CPI) m/m in May
0.3%
- - - -
EUROPE US ASIA3
FTSE 100 -0.99% S&P 500 -2.23% NIKKEI -0.23%
DAX -0.77% DJIA -1.96% HIS -1.11%
CAC -0.39% NASDAQ -2.44% CSI 300 -1.58%
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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