The Euro continues to lose strength against most of its major counterparts before manufacturing data scheduled for release next week is expected to show declines for the Eurozone as a whole.  Yesterday, the main story for the region was the Treasury Bond Auction in Italy failed to inspire much interest and this is doing little to prop up equity markets and the EUR/USD, which is now trading below 1.2950 and the EUR/GBP now seen below 0.84.

In the UK, macro data will come in the form of…

EUR/USD: Technical Analysis

The EUR/USD is forming a base which looks like an inverted head & shoulders pattern and could indicate a correction in prices to come. Strong momentum convergences are also signalling a possible bounce – with a target at the channel line at 1.2970. The overall trend is still down, however, and it could resume at any time with a target at the 1.2855 lows, where the monthly pivot supports. The mix of evidence could also point to a…

EUR/USD: Technical Analysis

The price reached 1.2900 target, mentioned in the previous analysis. The "bears" are now making attempts to breach this support. Trading is being carried out around 1.2910/15 levels. Indicators suggest a downtrend, so the "bearish" attempts have all chances to turn out successful. If the barrier is breached, the next target will be found at 1.2800/20 level. On the other hand, the price has recently approached its yearly minimums, which…

Equity markets in Asia are showing losses for the third day in a row and this is putting upward pressure on both the US Dollar and Japanese Yen, with EUR/JPY reaching 10-year lows overnight and European bond yields reaching new highs.  Despite this diversification away from risk assets, Gold is continuing its weekly declines but this is seen mostly as a result of US Dollar strength (as gold is priced in US Dollars).

The MSCI Asia Pacific Index was also lower and this latest move…

As reported by Market Leader (US)

European equity markets are seeing declines in volatility but still managing to post gains for the week ahead of the next Italian Bond auction where nearly 20 billion Euros in Treasuries will be made available.  In the previous sessions, US markets closed relatively unchanged while declines were seen throughout Asia.  The Stoxx Europe 600 is showing gains of 2 percent for the week (but showing declines of 12 percent for the year), and trading above the 240 mark, fuelled by positive macro…

EUR/USD: Technical Analysis

Eurodollar is still meandering in a tight consolidation zone. A small rally this morning did however reach resistance from the trend-line at 1.3080 and this could push the exchange rate back down to the range lows at around 1.3030, given the overall downside bias. No major moves are expected until volume picks up after the Christmas break.…

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As reported by Market Leader (US)

EUR/USD: Technical Analysis

The corrective pull-back this morning has signalled a short-term reaction. Despite a bigger picture which remains bearish the current rally may still go a little higher, to perhaps either 1.3085 or if particularly strong then the cluster of pivots and resistance levels at 1.3150. After that the broader down-trend should resume, with the old lows at 1.2950 targeted eventually.…

Equity markets are lower on Tuesday (snapping a three day bullish run) after the Bank of Japan monetary policy meeting minutes produced a pessimistic policy statement and markets have started to anticipate a negative response to the Italian Treasury auction later this week.  Risk assets were lower with high yielding currencies selling off and most commodities pushing lower in the session.  Trading volumes remain thin even with the US stock markets re-opening, as the UK, Hong Kong and…

Risk sentiment was higher during Asian trading, with the MSCI World Index showing gains for the last 5 trading days and the US Dollar losing some of its strength (although still near its yearly highs against the Euro).  Gains in equity markets are being based on the assumption that a soft landing can be seen in the US economy and most of the major indices are trading around 1% higher to start the week.  Volatility, however, remains low as many of the major trading centers (the US, UK and…

As reported by Market Leader (US)

As reported by Market Leader (US)

Order flows dropped during the Asian session as traders square positions into the close of the week.  Japanese markets were officially closed and many other regions saw lower volumes as the Christmas holiday approaches.  Market attention today centered on a report from the Wall Street Journal which said that the US Federal Reserve is currently revising its policy stance (relative to the FOMC meeting statement released in August) and that US interest rates could be boosted before the 2013…

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EUR/AUD Bullish Outlook

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EURAUD…

Trading ranges seen in equity markets have moved higher with the S&P 500 finding resistance at the 1250 level before reversing.  The main driver in price activity came with the third quarter GDP figures out of New Zealand overnight, which came in mixed but stronger than expectations at +0.8% on a quarterly basis and the numbers were encouraging because of the improvement on the 0.1% seen in the previous quarter.  On a yearly basis, however, the numbers were less impressive at +1.9%…

As reported by Market Leader (US)