Forex ­EUR/USD reduces its losses after the German almtshlki price index report

Forex ­EUR/USD reduces its losses after the German almtshlki price index report

The euro pared its losses against the u.s. dollar Monday, after data showed that German consumer prices rose in line with expectations this month despite previous reports from the eurozone along with Greek debt concerns continued to pressure sentiment. 

The EUR/USD traded away from 1.0892, the lowest price for the pair since 28 May to the European dealings 1.0941 Thursday afternoon, still down by 0.43%. It is likely to find support at 1.0817 pair, the lowest level since May 27 and resistance at 1.1011, the highest level since May 25. Preliminary data showed that the German consumer price index rose by 0.1% in may, in line with expectations after reading the previous month. On an annual basis, consumer prices rose by 0.7%, as expected. 

And purchasing managers index hit 52.2 unchanged for the final reading for the month of March, the highest level in 10 months, but down slightly from the initial estimate of 52.3. Still weak in key economies in the region continues, the decline of the manufacturing sector in France and Germany recorded modest growth. And fears of possible shortages after Athens warned last month that it would not be able to repay, if no agreement was reached on the cash transaction versus economic reforms with international creditors by then. 

The Greece to pay 305 million euros to the International Monetary Fund on 5 June. And disregard the dollar statements on Friday showed the us economy shrank in the first quarter, with recent indicators continued recovery in growth by raising interest rates prospects. 

The Commerce Department reported that u.s. gross domestic product shrank at an annual rate of 0.7% in the first three months of the year, instead of the initial estimate of 0.2% growth. In the United Kingdom report that showed manufacturing managers ‘ index lmarkit rose to 52.0 from 51.8% average reduction in April, but was less than the forecast 52.5.

 The data added to expectations that the Bank of England will leave interest rates unchanged for a longer period. Sterling remained under selling pressure amid renewed concerns of a possible departure of Britain from the European Union. 

The Government of Prime Minister David Cameron in a Bill in Parliament on Thursday to hold a referendum on membership of the United Kingdom in the European Union by the end of 2017.  

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Forex­ EUR/USD reduces its losses after the German almtshlki price index report

Forex-­Forex weekly report 8-12 July

Forex-­Forex weekly report 8-12 July

The dollar rose to its highest level in 13 years against the yen on Friday, rose against the euro after us jobs report came in stronger than expected, which boosted expectations of a hike. And the Labor Department reported that the us economy added 280, 000 jobs in may, ahead of expectations of economists that had awaited 220,000 jobs, the unemployment rate has also risen. slightly to 5.5% from 5.4% in the previous month. Was revised jobs report for April to 221 thousand jobs. Hourly wages rose also by 0.3% in may, after an increase of 0.2% in April. 

The upbeat data, confirmed the rise in wage growth suggests that the economy is moving on the right path to recovery after its decline in the first quarter, which boosted expectations that the Fed may start to raise interest rates at its policy meeting for the month of September. 

The dollar rose against other major currencies after the data. 

The USD/JPY rose to the highest level 496.69, its highest level since June 2002 and was last trading at 125.58 in late trading, up 0.99% for the day. And the pair closed the week with gains amounted to 1.08%. And EUR/USD for the lowest price at 1.1050 before falling to 1.1113 in late dealings, down by 1.11% for the day. USD/CHF rose by 0.61% to deliberate upon 0.9451 while GBP/USD decline by 0.61% to 1.5271. The dollar index, which measures the dollar against a basket of six major currencies rose by 0.93% to 112.14 late Friday. 

Meanwhile, the Canadian dollar rose to its highest price against the dollar Friday, supported by strong local jobs report.

Also, Statistics Canada reported that the economy added 58, 900 thousand jobs in may, far more than predictions for job growth by 10,000, as the unemployment rate remained unchanged at 6.8%, in line with expectations. And the decline in the USD/CAD to record lows by 1.2428 and stood at 1.2817, undoing the ratio of 0.51% for the day.

 This week, investors await the issuance of revised data on growth in the first quarter from Japan and the euro area, while surveillance reports on industrial production for the euro area. In the United States, will be watching the retail sales report issued Thursday and Friday’s consumer confidence report, in search of signs that the world’s largest economy is gaining momentum in the current quarter. 

And by next week, has compiled a list of these important events and other events which are likely to affect markets. 

Monday June 8 Stkoom Japan by publishing revised data on economic growth in the first quarter. In the euro area, Germany will publish data on industrial production. 

Canada will also publish reports on building permits. Tuesday 9 June Australia will publish official statements about mortgages and private­sector report on business confidence. China will publish data on inflation in consumer prices and producer prices.

 The euro zone will also publish revised data on economic growth in the first quarter. Switzerland will also publish data on consumer price inflation. In the United Kingdom. Will submit a report on the trade balance. 

Wednesday 10 June Japan will publish data on machinery orders. Australia will also publish private data about consumer confidence. And will the Australian Reserve Bank Governor Glenn Stevens ‘ speech, and his remarks will be monitored closely. United Kingdom will publish data on industrial production. During later the same day, the Bank of England Governor Mark Carney to speak during a ceremony held in London. 

Thursday 11 June New Zealand Reserve Bank will announce its decision on the interest rate and the interest rate statement, which establishes economic conditions and factors affecting the monetary policy decision. Australia will publish its monthly report on employment. China will also publish data about industrial production and fixed­asset investment. 

The United States will publish reports on initial jobless claims and retail sales. The Governor of the Bank of Canada will also Stephen bolos to speak during a ceremony held in Ottawa. 

Friday, June 12 The United States will end the trading week issuing statements about inflation on the producer price index and consumer confidence 

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Forex-­Forex weekly report 8-12 July