Eur/usd - page 137
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European stocks hold gains with eyes on ECB; Dax up 0.27%
European stocks held gains on Monday, despite downbeat Spanish employment data, as investors awaited a highly anticipated policy meeting by the European Central Bank later in the week.
During European afternoon trade, the DJ Euro Stoxx 50 gained 0.66%, France’s CAC 40 advanced 0.74%, while Germany’s DAX rose 0.27%.
Earlier Monday, official data showed that the number of unemployed people in Spain dropped by 29,800 last month, compared to expectations for a decline of 116,300. In June, the number of unemployed people in Spain declined by 122,700.
Data late last week showed that the annual rate of inflation in the euro area slowed to 0.4% last month from 0.5% in June, adding to pressure on the ECB to implement measures to avert the risk of deflation in the region
Meanwhile, in the U.S., disappointing employment data on Friday eased speculation over the timing of a possible rate hike by the Federal Reserve.
Financial stocks remained broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) jumped 1.89% and 1.51%, while Germany's Commerzbank (XETRA:CBKG) gained 1%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) rallied 1.82% and 1.83% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) advanced 0.90% and 0.97%.
In Portugal, the central bank announced that it took control of Banco Espirito Santo in a €4.9 billion bailout.
Elsewhere, Daimler (XETRA:DAIGn) shares climbed 1.27% after the German automaker said it will cut spare-part prices for its Mercedes-Benz cars in China by an average 15% from next month amid a government investigation into whether carmakers manipulated prices.
In London, FTSE 100 gained 0.49%, as U.K. lenders continued to track their European counterparts higher and data showed that the U.K. construction purchasing managers’ index slowed to 62.4 from 62.6 in June, but was still slightly ahead of expectations for a reading of 62.0.
source
great chance to go long on eur/usd 1.352 for your target
EURUSD moved higher during the course of last Friday, as the nonfarm payroll numbers were worse than expected. The trend has been very bearish lately, so the fact that we ended up bouncing during the day on Friday isn’t that big of a deal, it doesn’t change anything until we clear the 1.3550 region, something that probably isn’t going to happen soon.
Germany, France seek European position on US bank fines
France and Germany hope Europe can draw up a common position on the massive fines being imposed by the United States on foreign banks, a finance ministry spokesman said Monday.
After French bank BNP Paribas was hit with a record fine by US authorities and with several other European banks now in their crosshairs, the topic "is under discussion between Germany and France," the spokesman said.
Paris and Berlin had decided that "the issue be discussed at a European level," he told a regular government news briefing.
The Financial Times reported Monday that France has gathered support from fellow EU members such as Britain, Italy and Germany to challenge US regulators on their heavy penalties.
France wants the issue discussed at the next G20 meeting in Australia in November, the newspaper reported.
BNP Paribas was fined a record $8.9 billion (11.9 billion euros) for violating US sanctions against blacklisted countries, including Iran and Sudan.
Other banks, including German giant Deutsche Bank, and Italy's UniCredit, are also under investigation by Washington.
source
France and Germany hope Europe can draw up a common position on the massive fines being imposed by the United States on foreign banks, a finance ministry spokesman said Monday.
After French bank BNP Paribas was hit with a record fine by US authorities and with several other European banks now in their crosshairs, the topic "is under discussion between Germany and France," the spokesman said.
Paris and Berlin had decided that "the issue be discussed at a European level," he told a regular government news briefing.
The Financial Times reported Monday that France has gathered support from fellow EU members such as Britain, Italy and Germany to challenge US regulators on their heavy penalties.
France wants the issue discussed at the next G20 meeting in Australia in November, the newspaper reported.
BNP Paribas was fined a record $8.9 billion (11.9 billion euros) for violating US sanctions against blacklisted countries, including Iran and Sudan.
The EUR/USD pair initially sold off during last week.
But ended up bouncing and forming a nice-looking hammer.
This hammer looks like the weekly opportunity!
Other banks, including German giant Deutsche Bank, and Italy's UniCredit, are also under investigation by Washington.
sourceThe EUR/USD pair initially sold off during last week.
But ended up bouncing and forming a nice-looking hammer.
This hammer looks like the weekly opportunity!
good morning today we have the ISM non manufacturing PMI on USD lets see if this can move the price little bit
EURUSD initially fell during yesterday with a very tight range forming an inside day and as a result even if we do see some bullish pressure now, it’s going to have a fight on its hands to get above the 1.35 handle.
Euro Zone Services PMI 54.2 vs. 54.4 forecast
Euro zone service sector activity fell unexpectedly in the last quarter, industry data showed on Tuesday.
In a report, markit said that Euro Zone Services PMI fell to 54.2, from 54.4 in the preceding quarter.
Analysts had expected Euro Zone Services PMI to remain unchanged at 54.4 in the last quarter.
Euro zone retail sales rise 0.4% in June
Retail sales in the euro zone rose in line with market expectations in June, amid ongoing concerns over the region’s economic outlook, official data showed on Tuesday.
In a report, Eurostat said retail sales inched up by a seasonally adjusted 0.4% in June, meeting forecast. Retail sales rose by 0.3% in May, whose figure was revised up from a previously reported flat reading.
Year-over-year, retail sales in the euro zone rose at an annualized rate of 2.4% in June from a year earlier, above expectations for a 1.2% gain and after rising 0.6% in May.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.21% to trade at 1.3394.
source
EUR/USD drops to fresh 9-month lows on U.S. data
The euro hit fresh nine-month lows against the U.S. dollar on Tuesday, as upbeat U.S. service sector data boosted the greenback, while a series of lackluster service sector activity reports released earlier from across the euro zone continued to weigh on the single currency.
EUR/USD hit 1.3369 during U.S. morning trade, the pair's lowest since November 2013; the pair subsequently consolidated at 1.3365, declining 0.42%.
The pair was likely to find support at 1.3298 and resistance at 1.3431, Monday's high.
The Institute of Supply Management said its non-manufacturing purchasing manager's index rose to a three-year high of 58.7 last month from a reading of 56.0 in June. Analysts had expected the index to inch up to 56.3 in July.
The single currency weakened earlier, after a report showed that service sector activity in Italy grew at a slower pace than expected in July, one month after hitting the highest level since November 2010.
Italy’s services purchasing managers index slowed to 52.8 in July from 53.9 in June. Economists had expected a reading of 54.0.
Service sector activity in German and Spain grew last month, while the expansion in the French service sector remained marginal.
The euro zone’s services PMI came in at 54.2, up from 52.2 in June, but slowing slightly from a preliminary reading of 54.4.
The data added to the view that the recovery in the euro zone is losing momentum as investors looked ahead to the outcome of the European Central Bank’s monetary policy meeting on Thursday.
A report late last week showing that the annual rate of inflation in the euro area slowed to 0.4% in July from 0.5% in June added to concerns over growing deflationary pressures in the region.
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