Eur/usd - page 274
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EUR/USD: Euro Moves Sideways on Greek Uncertainty, EU PMIs in Focus
The euro remained under selling pressure on Monday as Greek debt negotiations continued to drag on. The dollar traded in tight ranges with the first revision to US GDP data eliciting little reaction on FX markets.
There was a lot news on Greece over the weekend but nothing that promises any immediate hope that creditors are going to hand over €7.2 billion so that Greece can meet its various obligations through to August.
"Judging by the early selling in EUR/USD (low of $1.0930), it seems Greece is now playing a more prominent role in market pricing, although this seems more confined to the EUR and most probably Greek and peripheral bond markets," Chris Weston from IG wrote on Monday.
The euro bounced from it's overnight lows but still remained in the negative territory, down 0.26% to $1.0961 ahead of the opening bell on Monday.
Greece is due to make the first of four payments to the IMF this coming Friday. However, the prospect of any form of agreement between now and then looks fairly slim due to the rhetoric coming out of Athens over the weekend, after Greek Prime Minister Alexis Tsipras accused bailout monitors of making absurd demands on his country.
The EU economic calendar includes final manufacturing May PMI numbers for Spain, Italy, France and Germany. Spain is expected to show continued strength, but some signs of tiredness are likely elsewhere. Spain is expected to come in at 54.4, while Italy is expected to weaken to 53.1, with France at 49.3, and Germany 51.4.
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May 2015 Spanish manufacturing PMI 55.8 vs 54.5 exp
May 2015 Spanish manufacturing PMI data report 1 June 2015
Highest headline reading since April 2007
EURUSD drops to 1.0930.
Better data, lower euro, what's going on?
Euro drops on better inflation data from Germany and Spanish manufacturing at an 8 year highWhat may be a strange reaction to the better data in the euro is probably explained better in the bond market. Previously we've seen the market start to talk about an early ECB finish to QE when the data has started to come in higher. Whilst on paper that should translate to the euro going up it looks like bonds are moving the euro lower
Yields at the moment are pushing higher which means traders are selling. If flows are coming out European bonds on the back of better data, and that the ECB might cut short QE, then they will most likely be flowing into the US on the back of expected rate hikes
source
On Friday session the EURUSD rallied to the 10 and 50-day moving and closed in the green near the high of the day, on a narrow range day but below the 10 and 50 day moving averages. So today, a break above the 10 and the 50 day moving averages could trigger a rally to a Fibonacci retracement (38.2) at 1.10584 or a break below the Fibonacci retracement (50) at 1.0955 could push the currency downward to another Fibonacci retracement (61.8) at 1.0852.
The attempts of the euro for appreciation was limited in 89-day SMA and the psychological level 1.1000. The pair traded at the foothills of these key resistances in the last two days of last week, but failed to climb above them.
Today the advantage is on the side of the dollar, and the price is headed towards support at 1.0860, and then to the bottom of 27 May at 1.0815.
EUR/USD rebounded from the resistance 1.1000 and dropped almost 100 pips now price again over 1.0900 and heading to test the resistance again.
French Unemployment Surges By Most In 7 Months To New Record High
Is it any wonder Marin Le Pen's Front National Party is a) leading in the polls, and b) pushing for an EU in/out referendum? Whatever it is that France (and/or Europe) is doing, is not working. Despite all the promises, French unemployment has risen practically non-stop for 4 years and just hit a new all-time record...
Hollande #Fail
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Spain May jobless falls by 2.72% mm
Amount falls 117,985
Labour ministry out with a bit of cheer but still much to do
Euro still feeling some love on Greek deal expectations
we can see the news of market in many sourse .but how we can analysis it and trade with it. it is neccessary. we need learn more when we trade with news. market will be fast
EURUSD fell on yesterday session after reaching the 10 and 50 day moving averages but closed in the middle of the daily range suggesting that the downward move is not strong enough to continue. So we may expect some consolidation until Friday where is expected the release of the US non-farm payrolls and the unemployment rate data.