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  1. #11
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    Date : 17th November 2014

    EURUSD PUSHING LOWER IN THE EUROPEAN SESSION. ECB PRESIDENT MARIO DRAGHI SPEAKS LATER TODAY.


    EURUSD rose on Friday and closed at 1.2523. The Gross Domestic Product in the Eurozone rose 0.2 percent in the 3rd quarter of 2014. The ECB Executive Board Member Benoit Coeure stated that fiscal policy should be used together with the monetary policies to spur the growth in the Euro are, cause the monetary policies alone cannot do the job.

    Data from the United States showed that the Retail Sales in the largest economy in the world rose more than expected on a monthly basis registering a 0.3 percent rise in October. The Preliminary University of Michigan Consumer Sentiment recorded its highest reading since July 2007 coming at 89.4 in November. The Business Inventories in the United States also recorded a gain of 0.3 percent in line with the market expectations in September. On Friday the President of the United States Federal Reserve in St Louis, James Bullard hinted that the FOMC would raise the key interest rates in 2015 and it would depend on macroeconomic data.

    In the mean time EURUSD continues to print new session lows in the European session. Investors are looking forward for the speech of the President of the European Central Bank Mario Draghi on Monetary Policy before the Committee on Economic and Monetary Affairsin Brussels.

    Support for the EURUSD is seen at 1.2404 and resistance is seen at 1.2568.



    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

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  3. #12
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    Date : 18th November 2014

    EURUSD PUSHED ABOVE THE 1.2500 LEVEL AFTER BETTER THAN EXPECTED ZEW ECONOMIC SENTIMENT REPORTS.


    EURUSD dropped yesterday and closed at 1.2448. During his speech yesterday, the President of the European Central Bank Mario Draghi reinforced the commitment of the central bank for using additional unconventional measures to stimulate the growth in the Euro area if needed. The ECB Executive Board Member Yves Mersch cautioned about the possible negative effects of sovereign bond purchases which according to Draghi remain as an option.



    Data released from the United States showed that the Industrial Production in the largest economy in the world unexpectedly dropped 0.1 percent on a monthly basis in October. Another report indicated that the Empire States Manufacturing Index rose less than expected to a reading of 10.6 in November, but recorded a sharp gain from the previous month’s reading of 6.17.

    The German ZEW Economic Sentiment data released today indicated a sharp rise to 11.5 in November. Market had expected a reading of 0.9. The ZEW Economic Sentiment in the Eurozone followed the positive tone coming at a reading of 11.0 in November against the market expectations of 4.3.

    Data released from the United States showed that the Producer Price Index in the US rose more than expected in October recording a gain of 0.2 percent.

    Support for the EURUSD is seen at 1.2445 and resistance is seen at 1.2568.



    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

  4. #13
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    Date : 19th November 2014

    LOW VOLATILITY ON EURUSD AHEAD OF THE US BUILDING PERMITS DATA. FOMC MEETING MINUTES ON TAP TODAY.


    EURUSD rose yesterday and closed at 1.2536. The German ZEW Economic Sentiment rose to a level of 11.5 in November registering its first rise since December 2014. The ECB Governing Council Member Klass Knot mentioned that the ECB is ready to use additional QE measures if needed including government bonds.

    Data from the United States indicated that the NAHB Housing Market Index surprisingly rose to a reading of 58.0 in November. The Producer Price Index also rose registering a rise of 0.2 percent on a monthly basis in October.

    Investors are now looking forward for the Building Permits and Housing Starts reports due from the United States in the afternoon. The FOMC Meeting Minutes are the top fundamental event scheduled on the Economic Calendar for the day ahead. Investors should be fully aware that during the time of the release there might be high volatility on the market.

    Support for the EURUSD is seen at 1.2444 and resistance is seen at 1.2547.



    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

  5. #14
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    USDJPY positions are quite good and it seems that its ready for further upward trend.

  6. #15
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    Date : 20th November 2014

    EURUSD TRADING SIDEWAYS AHEAD OF THE CPI AND UNEMPLOYMENT CLAIMS DATA FROM THE UNITED STATES.


    EURUSD rose yesterday and closed at 1.2553. The ratings agency S&P warned the European Central Bank about its monetary stimulus program yesterday. According to the S&P the associated with it could potentially lead to another recession in the EU. The FOMC Meeting Minutes in the United States indicated that the policymakers discussed the option to retain the interest rates to the current low levels for a longer period. Later on they came to a conclusion that the rate increases would depend on the economic situation in the largest economy of the world.

    On the economic front the Building Permits in the US surprised the markets recording a rise of 1.08M in October.

    Investors are now looking forward for the CPI data and the Unemployment Claims report due from the United States.

    Support for the EURUSD is seen at 1.2444 and resistance is seen at 1.2547.



    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

  7. #16
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    Date : 21st November 2014

    EURUSD TRADING SHARPLY LOWER AFTER COMMENTS FROM THE ECB PRESIDENT MARIO DRAGHI.


    EURUSD dropped yesterday and closed at 1.2539. Data released yesterday indicated that the German Flash Manufacturing Purchasing Managers Index dropped to a level of 50.0 in November. The German Flash Services PMI also dropped to a level of 52.1 in November. The negative tone was also seen in the general releases for the Eurozone where the Flash Manufacturing PMI dropped to a level of 50.4 and the Flash Services PMI dropped to a level of 51.3 in November.



    Data from the United States revealed that the Consumer Price Index in the largest economy in the world remained steady in October coming at 0.0 percent against the market expectations of a drop with -0.1 percent. The Philly Fed Manufacturing Activity was the most surprising release of the day with its reading of 40.8 in November which is a 21-year high level. The Existing Home Sales report from the US added to the positive tone after reaching a level of 5.26M in October.

    During his speech today the President of the European Central Bank Mario Draghi said that the European Central Bank must raise the inflation in the Eurozone as fast as possible and will broaden its asset purchase program if needed. The markets reacted to his speech and the EURUSD dropped sharply.

    Support for the EURUSD is seen at 1.2412 and resistance is seen at 1.2512.



    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

  8. #17
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    Date : 24th November 2014

    EURUSD TRADING HIGHER IN THE EUROPEAN SESSION. GERMAN IFO BUSINESS CLIMATE ROSE IN NOVEMBER.


    EURUSD dropped sharply in Monday and closed at 1.2390. The President of the European Central Bank Mario Draghi reiterated his previous statement that the central bank is ready to expand its asset purchases if the low inflation continues to persist in the Euro area.

    During the weekend the Vice President of the ECB Vitor Constancio stated that the current low inflation is a cause of big concern, but according to him there is no risk of entering a full deflation spiral.

    Data released today indicated that the German Ifo Business Climate rose to a reading of 104.7 in November.

    A report from BBG released today says that the Troika team and Greek officials are set to meet tomorrow in Paris.

    Support for the EURUSD is seen at 1.2362 and resistance is seen at 1.2445.



    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

  9. #18
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    Date : 25th November 2014

    EURUSD TRADING HIGHER IN THE EUROPEAN SESSION. PRELIMINARY GDP DATA FROM THE UNITED STATES ON FOCUS.


    EURUSD rose yesterday and closed at 1.2441. The German Ifo Business Climate rose yesterday to a level of 104.7 in November. The ECB Governing Council Member Jens Weidmann urged the EU governments to implement structural reforms arguing about the loose monetary policy of the European Central Bank. According to him the current ECB policies cannot boost the growth prospect permanently.

    Data released from the United States showed that the Flash Services PMI dropped to a level of 56.3 in November.

    Investors are now looking forward for the preliminary GDP report and the CB Consumer Confidence report due from the United States later today.

    Support for the EURUSD is seen at 1.2362 and resistance is seen at 1.2445.



    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

  10. #19
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    Date : 26th November 2014

    EURUSD PUSHING LOWER IN THE EUROPEAN SESSION. US UNEMPLOYMENT CLAIMS ARE SCHEDULED TO BE RELEASED TODAY DUE TO THE THANKSGIVING DAY IN THE UNITED STATES.

    EURUSD rose yesterday and closed at 1.2473. Data released from the Germany yesterday showed that the nation avoided recession after the German Final GDP for the 3rd quarter of the 2014 came out in line with the market expectations recording a rise of 0.1 percent. The Retail Sales in Italy registered a drop on a monthly basis coming at a reading of -0.1 percent in September.

    The biggest surprise in the session yesterday was the preliminary GDP data from the United States. The second estimate for the 3rd quarter of 2014 showed an increase of 3.9 percent against the market expectations of a 3.3 percent rise. On the other hand the CB Consumer Confidence in the largest economy in the world dropped to a level of 88.7 in November.

    Investors are now looking forward for the Unemployment Claims report from the United States which is scheduled to be released today, because of the Bank Holiday in the US tomorrow. Banks in the United States will be closed due to the observance of the Thanksgiving Day.

    Support for the EURUSD is seen at 1.2362 and resistance is seen at 1.2487.


    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

  11. #20
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    Date : 28th November 2014

    EURUSD TRADING HIGHER ON FRIDAY. CPI FLASH ESTIMATE IN THE EU IN LINE WITH THE MARKET EXPECTATIONS.

    EURUSD dropped yesterday and closed at 1.2645. The German Preliminary Consumer Price Index remained flat in November. The GfK German Consumer Climate rose to a reading of 8.7 in November.


    During his speech the President of the European Central Bank Mario Draghi urged the EU governments to implement economic reforms. He also cautioned that the unemployment, the lack of productivity and the structural reforms are the main risks surrounding the economy in the currency union.

    Data released today showed that the CPI Flash Estimate in the Eurozone dropped to a level of 0.3 percent on an annual basis in November.

    Support for the EURUSD is seen at 1.2362 and resistance is seen at 1.2487.


    Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

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