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Dukascopy Forex Overview: 22-06-2012 - Morning
| Dukascopy Bank analytic desk report Published: 22/06/2012 10:40 | |
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Dukascopy Forex Community TV
Today
12:00 GMT Weekly Wrap-upTom - interview overview with Remy Gaussens, Director of Technical Analysis at Trading Central |
Dukascopy Technical Analysis
EUR/USD
"The euro can bounce up to $1.2630, but then it will be a sell on rallies as Europe's problems are considerable."- RWC Partners (based on CNBC) EUR/USD is approaching the 1.2300 mark, which should be capable of holding the currency pair until the end of the current week and trigger some short squeezing. |
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Dukascopy Fundamental Analysis
EUR
"We still have to expect that for the time being, economic indicators will head in a downward direction and toward recession."- Jan Amrit Poser, chief economist at Bank Sarasin Eurozone services and manufacturing output contracted for a fifth consecutive month in June, a sign the economy is heading towards a recession. A composite index based on a survey of purchasing managers was unchanged at 46 from May, London-based Markit Economics said on Thursday. |
Expert Commentary
"At the moment we see some Dollar weakness against G10 currencies."
M. Burgess, FX Strategist at RBS, on the US Dollar performance and its key drivers. >> |
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Press Review
Europe
US home sales slipped 1.5 percent in MayAmericans bought fewer homes in May than April, suggesting a sluggish job market could threaten a modest recovery in housing.
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Market Research
Even though at some certain points the U.S. Dollar has been appreciating, the general trend remained bearish, resulting in an average loss of 1.5% relative to its major counterparts within the last five trading days, as demand for riskier currencies appeared to be stronger. |
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Dukascopy Bank Sentiment Index
Current global economic outlook
The current and six-month global economic expectations deteriorated in May. Gauges assessing the economic outlooks fell to 0.47 and 0.48, Dukascopy Bank SA poll showed. The three-year economic outlook improved to 0.65 from 0.64 in April . |
Global Stock Market Review
FTSE 100
UK FTSE 100 erased part of its previous gains and traded lower on Thursday as investors anticipated news from Federal Reserve, China and Eurozone manufacturing and service activity. |
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Commodity Overview
Precious Metals
Precious metals tumbled on Wednesday as Fed decided not to implement QE at the moment. |
Trade Pattern Idea
GBP/USD Emerging Pattern: Channel Down
The pattern started when the pair rebounded from 1.5777 and after testing support levels at 1.5650 and 1.5577 it has slowed down at 1.561 where the pair is currently trading. Technical indicators on aggregate do not suggest any clear emerging trends on 30M, 1H and 4H time horizons. |
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Economic Research
Commodity currency: Norwegian Krone
The Dukascopy Bank research department presents the final part of its research on commodity currencies. In the current issue we consider commodity sectors’ influence on Norwegian krone exchange rates. Norway is the second largest non-OPEC oil exporter, and energy products make up more than 50% of its exports. It gives us an opportunity to establish whether the exports’ share can be named as one of the relationship-defining factors. |
Dukascopy Aggregate Technical Indicator
Dukascopy Bank presents a new research product - the aggregate technical indicator. The new tool will indicate the strongest signals on major currency pairs. Dukascopy Aggregate Technical Indicator for 30 min, 1H, 4H and 1D time frame charts for major pairs for the last 144 periods till 07:00 GMT. |
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| Disclaimer: This overview can be used only for informational purposes. Dukascopy Bank SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. |
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