(Vibiznews-FX) - The euro on trade this week (July 22 to 27) are generally observed to show a trend strengthened against the U.S. dollar. Trade the currency pair EUR / USD is in the range of 1.3156 after opening at the beginning of the trading week has risen about 121 pips or about 0.91% and closed at around 1.3277.
Analysts Vibiz Consulting suggests that the strength of the Euro currency on the week, one of which related to the report of the Ifo Institute for Economic Research (business and economic research institute) that announces to the public that the business climate in Germany showed improved performance, but still lower than expected.
The development is indicated by an increase in indicators of economic fundamentals German Ifo Business Climate 106.2 of the increased value of the previous period is 105.9. The increase showed lower performance than the estimated number of economists who expect to be able to rise to 106.3 points.
As for trading in the coming week (July 29 to March 3), the normal range trading EUR / USD weekly forecast to have a support level at 1,318 and then at 1.3083. While the resistance level at 1.3335 and then at 1.3393.
The movement of this currency pair is expected to be influenced by several economic data releases which include: Minimum Bid Rate, ECB Press Conference, Spanish Manufacturing PMI and Unemployment Rate.
Sunday, 28 July 2013
Saturday, 27 July 2013
The Poor Week for Dollar
MarketWatch - Dollar closed lower on Friday, the dollar index slipped 81.66% to 00:14. Throughout this week, the dollar index has plummeted 1:14% and a decrease in 3 weeks straight. Dollar began to fall on Friday after easing speculation the Federal Reserve will reduce monetary stimulus in September. Federal Reserve Chairman, Ben Bernanke, in his testimony last week emphasized the reduction time stimulus by the Federal Reserve is not determined exactly, all depending on the condition of the U.S. economy, and it is too early to say the Federal Reserve will reduce stimulus in September.
Throughout this week's U.S. economic data that was released not too support the dollar, the data existing home sales for June are released on Monday showed a decrease, followed by manufacturing index data in the mid-Atlantic region were released on Tuesday also dropped, resulting in dollar suffered a reduction of 3 consecutive sessions. Dollar finally rose on Wednesday after the PMI manufacturing data and new home sales came out better than expected, as well as rising U.S. Treasury yields pushed the dollar strengthening. But the revival lasted only a day, the dollar fell back after the data core durable goods orders and unemployment claims released worse than expected. Data released consumer sentiment rose to its highest level in 6 years last Friday was not much help strengthen the dollar, and the dollar remains weak seiiring investor focus has now turned to the Federal Reserve meeting and U.S. economic data next week.
News source: www.monexnews.com
Throughout this week's U.S. economic data that was released not too support the dollar, the data existing home sales for June are released on Monday showed a decrease, followed by manufacturing index data in the mid-Atlantic region were released on Tuesday also dropped, resulting in dollar suffered a reduction of 3 consecutive sessions. Dollar finally rose on Wednesday after the PMI manufacturing data and new home sales came out better than expected, as well as rising U.S. Treasury yields pushed the dollar strengthening. But the revival lasted only a day, the dollar fell back after the data core durable goods orders and unemployment claims released worse than expected. Data released consumer sentiment rose to its highest level in 6 years last Friday was not much help strengthen the dollar, and the dollar remains weak seiiring investor focus has now turned to the Federal Reserve meeting and U.S. economic data next week.
News source: www.monexnews.com
Thursday, 25 July 2013
Gold Ends Lower as Dollar Strengthens
(Reuters) - Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Wednesday as the dollar strengthened. Gold prices also pressured by surging sales of new homes in the U.S. last month to the highest level in more than five years.
The most active gold contract for August delivery fell 15 U.S. dollars, or 1.12 percent, to settle at 1319.7 dollars per ounce. Tracking the most active contract, marking a decrease in the percentage loss and the biggest dollar since July 5, according to FactSet.
The most active gold contract for August delivery fell 15 U.S. dollars, or 1.12 percent, to settle at 1319.7 dollars per ounce. Tracking the most active contract, marking a decrease in the percentage loss and the biggest dollar since July 5, according to FactSet.
Oil Prices Rose Ahead of the Weekly U.S. Report
(Reuters) - Oil prices moved higher on Tuesday, as the market anticipates another large inventory withdrawal of U.S. crude stockpiles. Futures contract, light sweet crude or West Texas Intermediate (WTI) for October delivery, rose 29 cents to close at 107.23 dollars a barrel on the New York Mercantile Exchange, reported AFP.
The European benchmark, Brent crude for September delivery rose 27 cents, to settle at 108.42 dollars a barrel in London trade. The gains came as investors anticipated another large drawdown in U.S. crude inventories. U.S. crude stockpiles unexpectedly large decline in the last three weeks, helping push oil prices higher.
The European benchmark, Brent crude for September delivery rose 27 cents, to settle at 108.42 dollars a barrel in London trade. The gains came as investors anticipated another large drawdown in U.S. crude inventories. U.S. crude stockpiles unexpectedly large decline in the last three weeks, helping push oil prices higher.
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