mikeyjerou

FXstreet.com (San Francisco) - After falling from 1.2225 to break the 1.2200 level, the EUR/USD has found support at 1.2165 where the pair has been trading in consolidation mode following the latest bearish movement. In the last hour, the Euro has recovered 45 pips to trade back above 1.2200 and reach prices close to 1.2210. Currently the pair is trading at 1.2195, settling back below 1.2200 with 0.35% loses so far today from opening price action. The pair looks "Slightly Bullish" and "Extremely Oversold" according to the FXstreet.com technical studies in its 15 minutes time frame. Market sentiment remains strongly bearish for the EUR/USD, "as the common currency is unable to overcome now the 1.2200 level," comments Valeria Bednarik, FXstreet.com analyst. "A short spike above was unable to hold, although stocks moving off recent lows suggest a consolidate stage before new lows are seen." "Short term, 1.2210 comes as immediate resistance ahead of 1.2250 area, 20 SMA in the 4 hours chart: approaches to that level will likely be seen as selling opportunities by late sellers," Bednarik continues. "Renewed pressure below 1.2140 should point for a continuation towards 1.2100 over the upcoming Asian session."

Forexpros - The U.K.’s RICS house price balance fell unexpectedly last month, industry data showed on Monday. In a report, RICS said that U.K. RICS house price balance fell to a seasonally adjusted -22%, from -16% in the preceding month. Analysts had expected U.K. RICS house price balance to remain unchanged at -16% last month.

*EUR/USD pegged to the lows as ECB's Coeure pours a bit of gas on the fire. *Coeure says ECB will buy bonds on the secondary mkt if it need to for monetary. *policy and will not do so otherwise; ECB lending to ESM to buy Govt bonds in. *unlimited manner wouldn't comply with EU treaty. *Mkt sees no bounce for EUR/USD; Through 1.2260 targets July '10 low (1.2190). (fxstreet)

thanks for the link sir.. :)

Great thanks..

FXstreet.com (Barcelona) - EUR/USD is currently at 1.2490, bouncing from session lows at 1.2473, and below session highs near the open at 1.2513, about flat since previous weekly close last Friday, despite opening the week Monday hitting 2-week highs above 1.2670. The pair is slightly higher from previous open in Asia-Pacific yesterday by +0.21%. Local share markets trade mostly in the green, with Nikkei index higher by +0.68%. London session ahead will be a busy one, not much for EUR macro data related, but for sovereign debt crisis worsening, and US data coming later on. In the European front, first will come French CPI at 05:30 GMT, followed by German final CPI half hour later, and EU industrial production at 09:00 GMT. Major focus will be on the sovereign debt auctions side, following highest Spanish 10y yields yesterday since past Nov above 6.8%, today with Italy selling € 6.5B of 1 year bills, already showing the 10 year maturity above the 6% at the moment. Germany will place € 5 B in 10 year bunds, and inflation linked notes, at 06:00 GMT. The US will also auction 10 year bonds at 17:00 GMT. Key risk event for the day will come in the form of US retail sales at 12:30 GMT. Immediate support to the downside for EUR/USD shows at recent session lows 1.2473, followed by yesterday/past Wednesday/Friday's lows at 1.2442/35, and Jun 05 lows at 1.2405. For the upside, nearest term resistance comes at recent session highs 1.2515, followed by yesterday's highs 1.2530, and June 05 highs 1.2445.

Forexpros - Copper futures came under pressure during European morning trade on Tuesday, as initial optimism over the Spanish bank bailout waned and as worries grew over this weekend's elections in Greece. Mounting concerns that the region’s debt crisis will spill over to Italy further as well as lingering worries over slowing growth in China further weighed on market sentiment. On the Comex division of the New York Mercantile Exchange, copper futures for July delivery traded at USD3.330 a pound during European morning trade, shedding 0.4%. It earlier fell by as much as 1% to trade at a session low of USD3.303 a pound. Market sentiment was lifted Monday after Spain’s Finance Minister Luis de Guindos said the European Union agreed to grant Madrid a loan of up to EUR100 billion, which the government will use to recapitalize the country’s ailing banking sector. But risk assets came under renewed pressure as the initial optimism which greeted news that Spain had secured a bailout for its banks faded and investors began to focus on the details of the rescue package. The exact amount Madrid is to receive will only be decided later this month, after the results of independent banking audits are published. In addition, questions remained over the source of the funds and whether the bailout repayments would add to the country’s already high borrowing costs. Adding to Spain’s troubles, ratings agency Fitch cut the long-term credit ratings for Spanish banks Banco Santander and Banco Bilbao Vizcaya Argentaria to BBB-plus from A. The rating announcement followed the three-notch cut to the country's sovereign rating last week by Fitch last week. Spain is the fourth euro-zone nation to seek a rescue, after Greece, Portugal and Ireland. A financial crisis has gripped the country since 2008, when a real estate bust caused big losses for many banks. Concerns about Spain’s banks have grown since Bankia, the country’s fourth-largest lender, said last month it needed EUR19 billion in state aid to shore itself up against bad loans. Appetite for riskier assets was further weighed amid uncertainty over the outcome of a Greek general election on June 17, which could determine the course of the country’s future in the euro zone, as well as concerns over Italy’s fiscal health. Spanish 10-year yields rose to 6.66% during European morning trade, up from 6.52% on Monday. Similar-maturity Italian yields increased to 6.19%, the highest since January. Meanwhile, Cyprus said Monday it urgently needed European financial aid to shore up its banking system, a step that would make it the fifth euro zone economy to seek help. The Wall Street Journal reported that the size of any bailout for Cyprus would amount to no more than EUR3 to EUR4 billion. Europe as a region is second in global demand for the industrial metal. Prices have tracked investor sentiment toward the euro zone’s debt crisis in recent months. Copper prices have been on a rapid decline since the start of May, amid growing fears over an escalating debt crisis in the euro zone and a deeper-than-expected slowdown in China. A deeper slowdown in China, the world’s second biggest economy, would impair a global expansion that is already faltering because of debt crisis in the euro zone. Elsewhere on the Comex, gold for August delivery dipped 0.4% to trade at USD1,590.35 a troy ounce, while silver for July delivery fell 0.65% to trade at USD28.42 a troy ounce.

thanks for sharing :)

FXstreet.com (Barcelona) - The pair has lost some of the gains made in the previous session and sterling is now retreating by 0.63% against the greenback. The drop follows the release of a series of indicators of the US and UK economies. Wholesale inventories in the US outperformed forecasts, growing by 0.6% in April instead of 0.4%. The trade balance reached -50.6 billion dollars in April, dropping from the previous -52.62 billion. On the other side of the Atlantic, the UK’s PPI - input and output – came out worse than expected, registering YoY growth rates of 0.1% and 2.8%, respectively. The pair is currently trading at 1.5432, facing resistance at 1.5610 and 1.5692, according to Fxstreet.com pivot points on technical tools. On the downside, there is support at 1.5348 and 1.5266.

Forexpros - House prices in the U.K. rose broadly in line with market expectations in May, after falling sharply in April, industry data showed on Thursday. In a report, the Halifax Bank of Scotland said its House Price Index rose by 0.5% in May, in line with market expectations. April’s figure was revised to a 2.3% drop from a previously reported 2.4% decline. House prices in the three months to May were 0.8% higher than in the preceding three months, the second successive increase in this measure of the underlying trend in prices following six consecutive falls between October 2011 and March 2012. Commenting on the report, Halifax housing economist Martin Ellis said, " Whilst there has been a modest improvement in the trend for house prices recently, the current average U.K. price is very similar to the levels both a year ago and at the beginning of this year.” “We expect this situation to continue with prices likely to still be around today's levels at the end of 2012 as the ongoing tough economic environment constrains housing demand,” Mr. Ellis added. Following the release of that data, the pound was lower against the U.S. dollar, with GBP/USD shedding 0.38% to trade at 1.5437. Meanwhile, European stock markets were mildly higher after the open. London’s FTSE 100 added 0.15%, the EURO STOXX 50 eased up 0.1%, France’s CAC 40 rose 0.2%, while Germany's DAX advanced 0.15%.

The greenback, measures by the US Dollar Index, is retracing early gains after climbing as high as 82.91 as the crisis in Spain is weighting on sentiment. The dollar has recovered ground lost after the European Commission announced that the ESM could be used to recapitalize ailing banks, boosting the risk trends, although it later proved to be ephemeral. All in all, same story as of late for the world’s reserve, as the euro zone crisis remains centre stage against a backdrop of rising borrowing costs in Spanish and Italian debt markets, banking system in Spain desperately waiting for any life-saver and pre-election poll results in Greece playing with traders’ mood. At the moment: AUD -0.97%, EUR -0.49%, GBP -0.60%, NZD -0.62%, CAD +0.63% CHF +0.49% and JPY -0.70%. Wall St. is retreating 1.10% at 12,433 pts and S&P500 is down 1.16% at 1,314 pts. WTI is losing 2.69% at $88.28/bbl and Gold is down 0.88% at $1,540/oz The index is advancing 0.49% at 82.89 as of writing, with the next resistance at 83.02, ahead of 83.33 and 83.67 On the flip side, support levels lie at 82.17 followed by 81.86 and then 81.59

Nikkei is citing him saying new easing may not be necessary, domestic demand better than expected. Honda and Sony executives just blew a gasket.

FXstreet.com (San Francisco) - After three weeks of steady declines in the New Zealand dollar, bulls emerged from the abyss last week to initiate broad-based NZD buying. NZD buying was the theme of the day on Monday as well, with the NZD/USD having pushed back above the 0.7600 mark to touch a 4-day high of 0.7643 before slight retreat to close the North American session at 0.7610 vs. 0.7540 late Friday in New York. Technically speaking, as Jamie Saettele, CMT, Sr. Technical Strategist at DailyFX observes, “the strong reaction off of the December low is textbook,” he says. Mr. Saettele suggests that the advance may persist (much like technicals in AUD/USD suggests) and NZD/USD may encounter selling interest near 0.7675 resistance. Support is noted at 0.7580. NZD/USD last trades at 0.7610 as the Asia-Pacific session gets underway.

Great course :)

Forexpros - The U.S. Dollar was higher against the Swiss Franc on Friday. USD/CHF was trading at 0.9594, up 0.09% at time of writing. The pair was likely to find support at 0.9368, Monday’s low, and resistance at 0.9606, today’s high. Meanwhile, the U.S. Dollar was down against the Euro and up against the Japanese Yen, with EUR/USD gaining 0.01% to hit 1.2533 and USD/JPY rising 0.28% to hit 79.82.