|
|
||
|
Australia (toll free) T 1800 176 935
|
Currency Updates:
The euro (EUR), moving just above 1.3040 against the US dollar (USD), is seen regaining losses it incurred through last week’s eventful agenda. The pair is mostly consolidating as markets are expecting news regarding the Italian Government and the Cyprus bailout plan. Looking ahead, markets are expecting stronger growth from the United States which may lead to bullish dollar. Today keep an eye on retail sales and crude oil inventories, key indicators of a healthy economy.
- The GER30 (DAX) which tracks the top 30 German corporations is moving above 7970 while it continues to trend in that range. German equities are resilient even though negative industrial production in the Eurozone could have pushed the index downward.
- Gold (XAU) has moved a step up, above 1590 as the precious metal corrects losses incurred the previous week.
- Weekly option volatilities for the EURUSD remain constant around 7.95 as investors fear subsides after last week’s more event driven market.
Stay in tune throughout the day with foreign exchange bullets !
Movers & Shakers
GBPUSD
The British Pound (GBP) regained some of its previous losses against the US dollar (USD). The pair, currently moving above 1.4930 has been losing ground since December because of a weaker UK economy.
Outlook
EURUSD Pivot Point 1.2985 with a preference to go LONG at 1.2985.
Sentiment is 53% of deals to buy USD
USDJPY Pivot Point 93.30 with a preference to go SHORT at 93.30.
Sentiment is 62% of deals to buy EUR
GBPUSD Pivot Point 1.4885 with a preference to go LONG at 1.4885.
Sentiment is 61% of deals to buy GBP
AUDUSD Pivot Point 1.0285 with a preference to go LONG at 1.0285.
Sentiment is 73% of deals to buy AUD
GOLD Pivot Point 1581 with a preference to go LONG at 1581.
Sentiment is 61% of deals to buy GOLD
OIL Pivot Point 91.60 with a preference to go LONG at 91.60.
Sentiment is 75% of deals to buy OIL
US 500 Pivot Point 1540 with a preference to go LONG at 1540.
Sentiment is 23% to buy US 500
UK 100 Pivot Point 6474 with a preference to go LONG at 6474.
Sentiment is 22% to buy UK 100
Calendar
USD – Retail Sales m/m at 12:30 (GMT) Forecast 0.5%
OIL – Crude Oil Inventories at 02:30 (GMT) Forecast 2.3M
NZD – Official Cash Rate at 20:00 (GMT) Forecast 2.5%