Eur/usd - page 126
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EUR/USD edges lower in quiet trading
The euro edged lower against the dollar on Friday in a session void of major economic indicators, though Thursday's disappointing European factory gauges continued to weigh on the single currency.
In U.S. trading, EUR/USD was down 0.05% at 1.3601, up from a session low of 1.3592 and off a high of 1.3624.
The pair was likely to find support at 1.3589, Thursday's low, and resistance at 1.3651, Thursday's high.
Disappointing euro zone factory data released Thursday continued to water down the euro on Friday.
Italy's industrial output unexpectedly fell 1.2% in May from April, defying expectations for a 0.2% expansion, while French industrial production plunged 1.7% in May, also confounding expectations for a 0.2% gain.
Financial concerns also pressured the euro down against the dollar.
The parent company of Portugal's largest bank, Banco Espírito Santo, said it missed payments on commercial paper to a few clients, which spooked markets by fueling concerns surrounding the soundness of the banking sectors in Portugal as well as in Spain and Italy.
Meanwhile in the U.S., solid jobless claims numbers released on Thursday managed to edge the greenback over the euro on Friday.
The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending July 5 declined by 11,000 to 304,000. Analysts had expected jobless claims to hold steady at 315,000 last week.
Elsewhere, the euro was up against the pound, with EUR/GBP up 0.11% at 0.7952, and down against the yen, with EUR/JPY down 0.08% at 137.80.
source
we r still around 1.3600 again and below 1.3620 between the strong two lines honestly i dont know what is the matter with this pair
EUR/USD forecast for the week of July 14, 2014
The EUR/USD pair tried to rally during the course of the week, but as you can see gave back quite a bit of the gains in order to form a shooting star. Nonetheless, the market seems to be stuck between the 1.35 level as support, and the 1.37 level as resistance. The resistance above should extend all the way from 1.37 to the 1.3750 level. Ultimately though, if we can break out of that range, we should continue to make a longer-term move. If it’s to the upside, we go to the 1.40 level, but to the downside below the 1.35 level, we would head to the 1.33 region.
source
Number of EU banks down in 2013: ECB
The number of domestic banks and credit institutions in Europe and the eurozone declined in 2013, confirming a down-trend seen for a number of years, new data showed on Friday.
According to data compiled by the European Central Bank, the number of banks and credit institutions in the European Union fell to 198,744 in 2013 from 217,699 in 2012.
In the single currency area, the number fell to 163,171 from 171,792.
"The structural indicators show that, in most EU Member States, the downward trend in the number of branches and bank employees of domestic credit institutions observed in previous years has continued," the ECB said in a statement.
In the EU, the number of people employed by banks fell to 2.93 million in 2013 from 3.027 million in 2012.
In the eurozone, the number fell to 2.027 million from 2.113 million.
The ECB calculated that the total assets of domestic banks and credit institutes in the EU amounted to 2.289 trillion euros ($3.1 trillion) in 2013, down from 2.742 trillion in 2012.
In the 18 countries that share the euro, the total assets declined to 1.132 trillion euros from 1.444 trillion euros, the data showed.
source
EUR/USD Forecast July 14-18
EUR/USD settled in range in a week that saw fear return to the markets. Industrial production, Draghi’s testimony, German ZEW Economic Sentiment and ZEW Economic Sentiment, inflation data are the highlights of this week. Here is an outlook on the highlights of this week and an updated technical analysis for EUR/USD.
A shareholder in a major Portuguese bank missed a debt payment and the fear that gripped the markets already triggered a delay of some bond auctions in neighboring Spain. While the situation seems contained, we were reminded that the debt crisis is not fully resolved. Also the weak industrial output data weighed on the euro. In the US, we received more good news from labor market indicators, yet markets are still uncertain about the timing of the US rate hike, and that was not helpful to the greenback. The odds seem stacked against the pair, but the range is well maintained. Will we see a breakout now?
Updates:
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Forex trading outlook for the week ahead. Active calendar with Yellen te4stimony the highlught. Watch EURUSD 1.36 as it wills et its tone
https://www.youtube.com/watch?v=_nhVEWN_l8c
EUR/USD weekly outlook: July 14 - 18
The euro was almost unchanged against the dollar on Friday as concerns over a major Portuguese lender eased, curbing safe haven demand for the greenback.
EUR/USD was at 1.3606 late Friday, little changed for the day.
The pair was likely to find support at 1.3575 and resistance at 1.3650, Thursday’s high.
Worries over the fiscal stability of Portugal’s largest lender, Banco Espirito Santo, fuelled a sharp selloff in markets on Thursday, amid fears over the risk of contagion.
Concerns eased after Portugal’s central bank said Friday it was satisfied that the bank is able to fulfill its capital requirements.
The single currency remained under pressure as a slew of weak economic data on Thursday fuelled concerns over the outlook for the recovery in the region.
Italy's industrial output unexpectedly fell 1.2% in May, official data showed. Meanwhile, French industrial production plunged 1.7% in May and inflation rose by just 0.6%, the lowest level since November 2009.
The dollar fell to one week lows against the euro earlier in the week after Wednesday’s minutes of the Federal Reserve’s latest meeting indicated that interest rates are unlikely to rise soon.
The minutes of the central bank’s June meeting showed that officials agreed to end the bank’s asset purchase program in October, but revealed little new information on when rates could start to increase.
Officials said policy depends most “on the evolution of the economic outlook.”
In the week ahead, investors will be watching testimony on monetary policy by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
read more
The euro was almost unchanged against the dollar on Friday as concerns over a major Portuguese lender eased, curbing safe haven demand for the greenback.
EUR/USD was at 1.3606 late Friday, little changed for the day.
The pair was likely to find support at 1.3575 and resistance at 1.3650, Thursday’s high.
Worries over the fiscal stability of Portugal’s largest lender, Banco Espirito Santo, fuelled a sharp selloff in markets on Thursday, amid fears over the risk of contagion.
Concerns eased after Portugal’s central bank said Friday it was satisfied that the bank is able to fulfill its capital requirements.
The single currency remained under pressure as a slew of weak economic data on Thursday fuelled concerns over the outlook for the recovery in the region.
Italy's industrial output unexpectedly fell 1.2% in May, official data showed. Meanwhile, French industrial production plunged 1.7% in May and inflation rose by just 0.6%, the lowest level since November 2009.
The dollar fell to one week lows against the euro earlier in the week after Wednesday’s minutes of the Federal Reserve’s latest meeting indicated that interest rates are unlikely to rise soon.
The minutes of the central bank’s June meeting showed that officials agreed to end the bank’s asset purchase program in October, but revealed little new information on when rates could start to increase.
Officials said policy depends most “on the evolution of the economic outlook.”
In the week ahead, investors will be watching testimony on monetary policy by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
read morewe should wait and see what mario will say today may be looking at eur/usd 1.354
Draghi Seen Delivering $1 Trillion Free Lunch to Banks
Mario Draghi’s newest stimulus tool will hand banks more than 700 billion euros ($950 billion) of cheap funding, economists say.
The European Central Bank president’s targeted lending program for banks will boost credit for the real economy as planned, and at the same time help keep the financial system flush with cash, according to the Bloomberg Monthly Survey of 45 economists. Draghi may address the topic today when he testifies at the European Parliament in Strasbourg for the first time since elections in May.
The ECB has identified lending to companies and households as a key weakness in the euro area’s fragile recovery. The so-called TLTRO program, part of a wider package of measures announced in June, offers as much as four years of low-cost funding tied to bank lending that Draghi said this month could ultimately provide as much as 1 trillion euros.
“The take-up should be large -- the money is cheap and banks should feel no stigma about accepting a free lunch,” said Alan McQuaid, chief economist at Merrion Capital in Dublin, who predicts banks will take the maximum available. “With any luck, Draghi’s next problem will not come until 2018, when 1 trillion euros needs refinancing.”
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Euro zone industrial production -1.1% vs. -1.2% forecast
Industrial production in the euro zone fell less-than-expected last month, official data showed on Monday.
In a report, Eurostat said that Euro zone industrial production fell to a seasonally adjusted -1.1%, from 0.7% in the preceding month whose figure was revised down from 0.8%.
Analysts had expected Euro zone industrial production to fall -1.2% last month.