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02.06.2011
19:18
Pierpont Securities previews tomorrow's May employment data, calling for +175k payrolls (lowered by 50k from orig est) and 8.9% unemploy rate (-0.1 pt).
19:00
Dow -36.18 at 12253.96, Nasdaq +0.97 at 2770.16, S&P -1.95 at 1312.60

All three major averages were briefly trading in positive territory before the Dow and S&P slipped back below the falt line.
Financials are among the top performing sectors in the S&P 500 today, trading higher by 0.4%.
Goldman Sachs (GS 134.55, -1.62) remains in negative territory, but is well off its worst levels of the day.
Also out this morning was a note from Moody’s saying Bank of America (BAC 11.31, +0.07), Wells Fargo (WFC 27.15, +0.21), and Citigroup (C 40.08, +0.43) were placed on review for a possible downgrade.  

18:45
GBP/USD tries to set stable

GBP/USD tries to set stable, holding above tech support at $1.6332 (76.4% Fibo of $1.6305/1.6418 move). Rate currently trades around $1.6343. While rate can hold above $1.6332 seen keeping underlying tone buoyant. A break to open a deeper move toward earlier lows at $1.6305.

18:20
EUR/USD back under $1.4500

EUR/USD back under $1.4500 after printing session highs on $1.4513. Friday US employment report is in focus now. Rate currently holds around $1.4464 with further stops to $1.4520 and a barrier mentioned at $1.4550.

18:02
HFE on US jobs

HFE says they are "hesitate to argue that the underlying trend in claims has now definitely levelled off after the oil/earthquake induced increase of the past two months, but the last three weeks' numbers have all been below 430K so we are quite hopeful." They are hopeful that Q3 will see econ improvement.

17:40
Dow -38.94 at 12251.20, Nasdaq +1.27 at 2770.46, S&P -2.43 at 1312.12

The major market averages have been unable to shrug off this morning's disappointing initial and continuing claims data. Earlier weakness has been mostly erased with the Dow and S&P seeing small losses while the Nasdaq holds a slight gain.
Education stocks are among the best performers today, seeing gains on the heels of the Department of Education's favorable gainful employment ruling. The final rules published last night give the for-profit education companies more time to comply with the changes than the initial ruling had proposed. Corinthian Colleges (COCO 5.20, +1.21), Strayer Education (STRA 141.30, +19.43) and Apollo Group (APOL 46.35, +4.16) are among the movers on the news.
Retail stocks have been on many trader's radars as May Same Store Sales were released. Saks (SKS 11.28, +0.22) was a notable outperformer, with sales climbing 20.2% versus the consensus estimate of a 8.2% rise. The reports were generally weaker-than-expected with Gap (GPS 18.27, -0.63), Kohl's (KSS 51.42, -1.50), and JC Penney (JCP 33.05, -0.94) all missing estimates.
Joy Global (JOYG 90.76, +4.87) is buoying today's relative strength in industrial stocks after the company announced strong second quarter results. The company announced earnings of $1.52 per share, topping the Thomson Reuters consensus by $0.17, and reported an 18.6% increase in revenues to $1.06 billion. The company said it expects full year 2011 earnings per share of $5.30-$5.60, up from its previous estimate of $5.10-$5.40. Peer John Deere (DE 84.05, +1.29) is piggybacking gains, trading up 1.5%.
Treasuries continue to hold their losses despite the continued slide in equities. The 10-yr yield has tested the 3.00% level on a couple of occasions, and currently sits at that level.

17:09
American focus:

The euro gained versus the dollar to the highest level in almost a month as German Chancellor Angela Merkel said she’s committed to the shared currency and European Central Bank officials backed the creation of a euro-region finance ministry.
“We don’t have a euro problem in Europe,” Merkel said in a speech in Singapore today on the final day of a three-day Asia trip that also took her to India. “We have more of a debt problem. Financial markets doubt whether some EU states can manage their debt in the long-term.” Germany is committed to the euro, which is stable, she said.
The dollar dropped against the majority of its most-traded peers as weaker economic data, including higher-than-forecast jobless claims, added to speculation the nation’s recovery is slowing. The yen was lower against the euro as Japan’s Prime Minister Naoto Kan survived a no-confidence vote after offering to step down once his work to lead a recovery from March’s earthquake is accomplished.
“A lot of the comments we’ve seen from the euro zone are keeping the currency afloat,” said Kathy Lien, director of currency research with online currency trader GFT Forex in New York. “The jobless claims number is still at lofty levels and because of that the dollar remains under pressure.”

16:19
US: Boeing Corp reports 27 new orders for commercial aircraft in May vs 2 in April.
15:18
Dow -9.38 at 12280.76, Nasdaq +11.04 at 2780.23, S&P +1.09 at 1315.65

Commodities are trading higher today, while the dollar index continues to trade in the red and is only. The CRB Commodities Index is showing gains of 0.4% currently.
Natural gas futures have been running higher ahead of this morning's inventory data. The energy component opened pit trading around $4.66/MMBtu and rallied up to current session highs of $4.71/MMBtu. Ahead of the data, it was just under that high. Following the data, which showed a build of 83 bcf versus the consensus of a build of ~90bcf, natural gas futures spiked ~2.8% to new session highs of $4.83/MMBtu and are now up 3.8% at $4.80/MMBtu.
Crude oil futures ticked lower at the open of pit trading, but have remained above the $100.00/barrel level all morning. Crude almost hit the $101 area when it rallied this morning in the first 30 minutes of trade, but stopped at $100.96/barrel (current session highs) and is now up 0.1% at $100.39/barrel.
Precious metals were lower earlier this morning and are now extending those losses, mostly notably in silver futures. Silver just quickly fell another ~40 cents/oz to new session lows of $36.46/oz. and is now down 2.9% at $36.59/oz. Gold sold off as well, but the losses are much more modest. Gold lost just over $2/oz. to new session lows of $1535.20/oz. during the time silver sold off in recent trade. Gold is currently 0.5% lower at $1535.90/oz.

15:03
US: EIA oil data for May 27: crude stocks +2.6m bbl to 212.3m.
14:54
Dow -9.38 at 12280.76, Nasdaq +11.04 at 2780.23, S&P +1.09 at 1315.65

Commodities are trading higher today, while the dollar index continues to trade in the red and is only. The CRB Commodities Index is showing gains of 0.4% currently.
Natural gas futures have been running higher ahead of this morning's inventory data. The energy component opened pit trading around $4.66/MMBtu and rallied up to current session highs of $4.71/MMBtu. Ahead of the data, it was just under that high. Following the data, which showed a build of 83 bcf versus the consensus of a build of ~90bcf, natural gas futures spiked ~2.8% to new session highs of $4.83/MMBtu and are now up 3.8% at $4.80/MMBtu.
Crude oil futures ticked lower at the open of pit trading, but have remained above the $100.00/barrel level all morning. Crude almost hit the $101 area when it rallied this morning in the first 30 minutes of trade, but stopped at $100.96/barrel (current session highs) and is now up 0.1% at $100.39/barrel.
Precious metals were lower earlier this morning and are now extending those losses, mostly notably in silver futures. Silver just quickly fell another ~40 cents/oz to new session lows of $36.46/oz. and is now down 2.9% at $36.59/oz. Gold sold off as well, but the losses are much more modest. Gold lost just over $2/oz. to new session lows of $1535.20/oz. during the time silver sold off in recent trade. Gold is currently 0.5% lower at $1535.90/oz.

14:32
BMO on US jobs

BMO reminds that initial jobless claims data are volitile but says key is that "the 4-week moving average has been over the 400k mark for six straight weeks" - not a friendly trend.

14:12
Dow -15.06 at 12275.08, Nasdaq +8.41 at 2777.60, S&P -0.14 at 1314.41

The major market averages remain mixed with the Nasdaq leading the way with a gain of 0.3%.

14:01
US: Apr factory new orders -1.2%
13:42
EUR/GBP keeps positive mood

Retains a firm tone, with rate seen pushing up against earlier posted highs at stg0.8838. Reported offers have been noted between stg0.8835/45, a break to open a move toward stg0.8865/75 ahead of stg0.8895/00.

13:03
Before the bell: Job market in focus

U.S. stock futures pointed to a muted open Thursday, following one of the worst sessions of the year, as investors remained on edge ahead of the highly-anticipated May jobs report due Friday.

Economy: Weekly jobless claims fell by 6,000 to 422,000 in the latest week. While investors welcomed the slight dip in unemployment claims, the figure was not as low as economists were hoping for -- and it remained above the key level of 400,000 for the eighth straight week.
Companies: Shares of Corinthian Colleges (COCO) spiked 27%, while shares of Apollo Group (APOL, Fortune 500) rose 12%. Bridgepoint Education's (BPI) stock edged up 10%.
Investors will also keep on eye on major retailers including Target (TGT, Fortune 500), Gap (GPS, Fortune 500), Costco (COST, Fortune 500) and BJ's Wholesale (BJ, Fortune 500), as they release same-store sales data for May.

12:58
EUR/USD retreats

EUR/USD retreats to current $1.4450 after US data released. Flows remain muted with much of Europe on holiday for Ascension day. Mixed order interest remains below $1.4450 where bids and stops are in focus.

12:46
USD/JPY weakens

USD/JPY printed lows around Y80.55 before the pair rebounded smartly for trade to the current Y80.78 area. Bids ahead of Y80.50 may be tested. Stops noted lower.

12:31
US: Initial jobless claims -6k to 422k in May 28 wk
11:58
EU session review: Merkel comments lift Euro

Data released:
08:30    United Kingdom PMI Construction (May)     54.0    53.8    53.3

The euro gained versus the dollar and yen as German Chancellor Angela Merkel said the European Union remains committed to its shared currency and the outlook for German growth is “very positive.”
“We don’t have a euro problem in Europe,” Merkel said today. “We have more of a debt problem. Financial markets doubt whether some EU states can manage their debt in the long-term.” Germany is committed to the euro, which is stable, she said.
The euro has gained 2.4% this year, versus a 5.4% drop by the dollar and a 5.5% decline for the yen.
The yen stayed lower against the euro as Japan’s Prime Minister Naoto Kan survived a no-confidence vote after appealing to ruling party dissidents by offering to step down once his work to lead a recovery from March’s earthquake is accomplished.
The Labor Department will release May unemployment figures tomorrow. Goldman Sachs Group Inc. yesterday revised its estimate for an increase in May nonfarm payrolls to 100,000 from 150,000, while Citigroup Inc. trimmed its projection to 100,000 from 170,000. The median estimate is for a gain of 170,000 following a 244,000 April increase.

EUR/USD continues to recover after decline in Asia to $1.4305. Rate printed session high on $1.4490, after triggering some stops and offers. Options are at $1.4500.


GBP/USD was supported by strong statistic and rose to $1.6420. Later rate retreated to $1.6370.


USD/JPYcontinues to weaken from Asian high on Y81.30. Rate printed lows around Y80.66.

US data starts at 1230GMT with the weekly jobless claims and also the release of non-farm productivity and unit labor costs.
US data continues at 1400GMT with US factory new orders that are expected to fall 0.9% in April.
The weekly EIA Natural Gas and Crude Oil Stocks data releases are due from 1430GMT.


11:41
Analysts at JPM lowered their Q2 real GDP projection to 2.0% (was lowered to +2.5% last wk).
11:23
EUR/GBP looks optimistic

EUR/GBP holds around stg0.8828, a bit lower session high on stg0.8836. Earlier reports noted strong resistance/sell interest to be seen in the area between stg0.8835/45.

11:12
ECB, CONSTANCIO: Do not exclude all forms of private sector involvement
10:59
EUR/USD holds back at $1.4470 after challenging new highs on $1.4486. Offers mentioned at option barrier zone on $1.4500.
10:39
EU focus: Dollar awaits Payrolls

The dollar hovered near a one-month low versus a currency basket on Thursday after dismal U.S. economic data stoked fears the country's recovery will be slow, and weak Friday's payrolls may spark more losses.
The euro edged up, clawing back after Moody's on Wednesday slashed its rating on Greece.
The dollar smarted after data on Wednesday showed U.S. companies hired far fewer workers than expected in May and output in the manufacturing sector slowed to its lowest since 2009.
A weak reading of key U.S. nonfarm payrolls on Friday may trigger more dollar losses as it would fuel speculation of the need for more stimulus after a second round of quantitative easing by the Federal Reserve ends this month.

The euro was supported even after Moody's on Wednesday cut Greece's credit rating by three notches to Caa1 on debt restructuring worries.
The euro recovered back as currency investors are optimistic that European officials will reach an agreement on how to help Greece repay its debt.

10:21
ECB, TRICHET: Call for ambitious reform of economy governance
  • Aid to states in need helps crisis from spreading
  • Euro a credible currency
10:01
GBP/USD gains ground

GBP/USD holds above session lows on $1.6304 - currently at $1.6396 after a strong data. A break to open a move toward $1.6395/400 ahead of stronger interest between $1.6420/25.

09:46
EUR/USD holds higher

EUR/USD break above the earlier resistance in the $1.4420/25 area, and breaking the 76.4% retrace of the move down from $1.4459 to $1.4307 at $1.4423. Rate currently holds around $1.4447. Resistance now seen into $1.4460 (NY high Weds $1.4459) with stops above.



09:28
FTSE -0.87% 5,877, CAC -1.15% 3,919, DAX -1.19% 7,132
09:19
Option expiries for today's 1400GMT cut:

EUR/USD $1.4350, $1.4400, $1.4500, $1.4250, $1.4225 
USD/JPY Y80.30, Y81.15, Y81.25, Y81.40, Y81.60, Y81.70, Y82.00
EUR/JPY Y117.00, Y117.05, Y117.40, Y117.50, Y118.00
GBP/USD $1.6470, $1.6490, $1.6210
AUD/USD $1.0615, $1.0610, $1.0600, $1.0560, $1.0550, $1.0800, $1.0820,
GBP/AUD A$1.5230

09:00
GBP/USD:

Extends recovery, begins to make a show back above $1.6350 and looking set to retest earlier highs at $1.6354. Offers noted from here through to $1.6360 with stops placed above.

08:30
UK: CIPS/Markit May construction PMI 54.0
08:07
Asian session: The euro gained

Data:
01:30 Australia Trade Balance (Apr) 1597.00M
01:30 Australia Retail Sales s.a. (MoM) (Apr) 1.1%

The euro gained against the dollar and yen as German Chancellor Angela Merkel said the European Union remains committed to its shared currency and the outlook for German growth is “very positive.”
The yen pared a decline against the dollar after Prime Minister Naoto Kan, facing a no-confidence vote, said he’ll step down once his work to lead a recovery from March’s earthquake is accomplished. 
The euro rose against all 16 of its most-traded counterparts before European Central Bank President Jean-Claude Trichet speaks in Germany after saying yesterday the ECB “will continue to deliver price stability.”
Losses in the yen were trimmed as Asian stocks extended a worldwide slump on concerns over slowing U.S. growth. The MSCI Asia Pacific Index fell as much as 1.9 percent.

EUR/USD: the pair  become stronger in around $1.4360.

GBP/USD: the pair bargained within the limits of $1.6310-$ 1.6350.

USD/JPY: the pair shown high in the field of Y81.30 then decreased. 

It is a light calendar for European data on Thursday with the biggest scheduled release probably the UK Construction PMI data at 0828GMT, which is expected to see a pullback to a reading of 52.5. At 0915GMT, ECB President Jean-Claude Trichet is due to speak at the awarding of the Charlemagne Prize in Aachen, Germany. 
US data starts at 1230GMT with the weekly jobless claims and also the release of non-farm productivity and unit labor costs. The level of initial jobless claims is expected to fall 4,000 to 420,000 in the May 28 week after rising unexpectedly in the previous week, while first quarter non-farm productivity is expected to be revised up to +1.7% on a 
modest adjustment to output. As a result, unit labor costs are expected to be revised down to +0.8%. US data continues at 1345GMT with the weekly Bloomberg Comfort Index, while at 1400GMT, US factory new orders are expected to fall 0.9% in April, as durable goods orders were already reported down 3.6%, but nondurables orders are expected to surge further on energy prices. The weekly EIA Natural Gas and Crude Oil Stocks data releases are due from 1430GMT, while later data includes Store Sales as well as the 2030GMT release of M2 Money Supply data.

08:01
Asian stock close:

Nikkei  -1.69% 9,555
Hang Seng  -1.55% 23,261
Shanghai Composite  -1.40%  2,705

07:54
Forex: Wednesday's review

The dollar dropped to the lowest in three weeks as reports showed slower-than-forecast jobs growth and reduced factory output, adding to concern the U.S. economy is slowing.
The U.S. currency weakened after a private survey showed employment increased by 38,000 last month, the smallest gain since September and a measure of manufacturing output in May declined more than forecast. 
U.S. employment increased last month after a revised 177,000 gain in April, according to figures from ADP Employer Services. The median estimate called for a 175,000 advance for May.
The Labor Department will release May unemployment figures June 3. Goldman Sachs Group Inc. revised its estimate today for an increase in May nonfarm payrolls to 100,000 from 150,000, while Citigroup Inc. trimmed its projection to 100,000 from 170,000.
The Institute for Supply Management’s factory index fell to 53.5 in May from 60.4 the prior month. Economists projected the gauge would drop to 57.1.
The Swiss franc strengthened as retail sales rose in April at the fastest rate in two years, boosting speculation the Swiss National Bank may raise borrowing costs. Retail sales climbed 7.5% in the year after a 0.2% drop in March, the most since April 2009.

EUR/USD: on results of yesterday's session the pair  decreased in around $1.4330.
GBP/USD: on results of yesterday's session the pair  decreased in around $1.6320.
USD/JPY: on results of yesterday's session the pair decreased in around Y80.80.
It is a light calendar for European data on Thursday with the biggest scheduled release probably the UK Construction PMI data at 0828GMT, which is expected to see a pullback to a reading of 52.5. At 0915GMT, ECB President Jean-Claude Trichet is due to speak at the awarding of the Charlemagne Prize in Aachen, Germany. 
US data starts at 1230GMT with the weekly jobless claims and also the release of non-farm productivity and unit labor costs. The level of initial jobless claims is expected to fall 4,000 to 420,000 in the May 28 week after rising unexpectedly in the previous week, while first quarter non-farm productivity is expected to be revised up to +1.7% on a 
modest adjustment to output. As a result, unit labor costs are expected to be revised down to +0.8%. US data continues at 1345GMT with the weekly Bloomberg Comfort Index, while at 1400GMT, US factory new orders are expected to fall 0.9% in April, as durable goods orders were already reported down 3.6%, but nondurables orders are expected to surge further on energy prices. The weekly EIA Natural Gas and Crude Oil Stocks data releases are due from 1430GMT, while later data includes Store Sales as well as the 2030GMT release of M2 Money Supply data.

07:14
Stocks: Wednesday's review

Asian shares made faltering headway as tech stocks rallied but soft manufacturing data from China heightened concerns about global economic growth and kept gains in check.
A profit warning from Nokia, the Finnish mobile phone maker, in the previous session helped lift its Asian rivals as it reported falling market share.
Samsung climbed 1 per cent to Won911,000 while rival LG Electronics added 1.3 per cent to Won98,500. Taiwan’s HTC gained 2.1 per cent to T$1,245 and Hon Hai Precision Industry, which assembles Apple’s iPhones and iPads, rose 1.5 per cent to T$102.
Trading in Tokyo was choppy amid growing domestic political concerns. Naoto Kan, Japan’s prime minister, this week will face his second vote of no-confidence in less than a year.
Sony rose 0.8 per cent to Y2,180 after the consumer electronics group said it would look to reduce operating losses in its television business by at least half in the current fiscal year through to March 2012.
European stocks declined the most in a week after U.S. employment and manufacturing data trailed economists’ forecasts and China’s factory production expanded at the slowest pace in nine months.
China’s manufacturing growth eased in May as the government extended a campaign to cool inflation and the property market. The Purchasing Managers’ Index dropped to 52 from 52.9 in April, the China Federation of Logistics and Purchasing said.
A gauge of manufacturing in the 17-nation euro area slipped to 54.6 in May from 58 in April, London-based Markit Economics said today. That fell short of the initial estimate of 54.8 released on May 23. A reading of more than 50 indicates growth.
Banca Monte dei Paschi SpA sank the most in two years as the Italian lender’s controlling shareholder sold 450 million shares.
KBC Groep NV (KBC) lost 6.2 percent after a report the Belgian bank is considering a 2 billion-euro ($2.9 billion) share sale.
BG Group Plc (BG/) and Repsol YPF SA (REP) led a retreat in energy stocks as crude oil declined in New York.
Outokumpu Oyj (OUT1V) surged 3.8 percent to 10.63 euros after the Finnish steel maker sold a 4.3 percent stake in Talvivaara Mining Co. to Solidium Oy, which manages the shareholdings of the Finnish state.
Axa SA (CS) gained 1.5 percent to 15.06 euros after Canada’s Intact Financial said it will buy Axa’s Canadian business to increase its premiums in the country by almost 50 percent. The French insurer also said it’s seeking average annual growth in underlying earnings per share of 10 percent to 2015.
A triple dose of bad news sent stocks sharply lower Wednesday afternoon, with all three indexes set to have their worst day in months.
The day started with two disappointing U.S. economic reports that exacerbated fears about a slowdown in the recovery. And late in the trading session, Greece's debt got slapped with yet another downgrade.
The Dow Jones industrial average (INDU) fell 245 points, or 2%, with all but one of the blue chip index's 30 components lagging. Bank of America (BAC, Fortune 500), Caterpillar (CAT, Fortune 500) and Alcoa (AA, Fortune 500) were the worst performing stocks on the blue-chip index.
Economy: The first of this week's jobs-related economic reports showed that the pace of planned job cuts edged higher in May, according to a report from outplacement consulting firm Challenger, Gray & Christmas.
A separate report by ADP showed private-sector payrolls added only 38,000 jobs in May. The number fell well below the 170,000 private sector jobs economists were expecting, according to an estimate from Briefing.com.
The Commerce Department said construction spending rose 0.4% in April, following a 0.1% rise the previous month. Economists were expecting spending to drop 1%.
Companies: Shares of Marathon Oil (MRO, Fortune 500) slipped 3% after the Houston-based company said it is buying oil and natural gas fields within the state's Eagle Ford shale formation for $3.5 billion.
Telvent (TLVT)'s stock jumped more than 15% following news that the energy software company will be acquired by Schneider Electric for $1.4 billion.
Shares of JoS A. Bank Clothiers (JOSB) tumbled 14% after the men's clothing retailer's first-quarter profit failed to meet Wall Street's expectations.

06:48
Tech on USD/JPY

Resistance 3: Y82.20 (around of May 19 and 24 high) 
Resistance 2: Y81.80 (May 31 high) 
Resistance 1: Y81.45 (МА (200) for Н1) 
Current price: Y80.98
Support 1:Y80.70 (Jun 1, May 16 and 31 low)  
Support 2:Y80.20 (May 10 low) 
Support 3:Y79.55 (May 5 low)  
Comments: the pair bargains in the field of Y81.00. The nearest support - Y80.70. Below losses are possible to Y80.20. The nearest resistance - Y81.45. Above growth is possible to Y81.80. 

06:45
Tech on USD/CHF

Resistance 3: Chf0.8580 (38.2 % FIBO Chf0.8890-Chf0.8380)
Resistance 2: Chf0.8550 (Jun 1 high)
Resistance 1: Chf0.8480 (resistance line from May 24)
Current price: Chf0.8430
Support 1: Chf0.8380 (Jun 1 low)
Support 2: Chf0.8300 (psychological mark)
Support 3: Chf0.8200 (psychological mark)
Comments: the pair bargains in a narrow range. The nearest support - Chf0,8380. Below loss may extend to Chf0.8300. The nearest resistance Chf0.8480. Above is located Chf0.8550. 

06:39
Tech on GBP/USD

Resistance 3: $ 1.6500 (around of Jun 1 high)
Resistance 2: $ 1.6440 (resistance line from May 31)
Resistance 1: $ 1.6350 (session high)
Current price: $1.6331
Support 1 : $1.6300 (50.0 % FIBO $1.6060-$ 1.6550)
Support 2 : $1.6240 (61.8 % FIBO $1.6060-$ 1.6550)
Support 3 : $1.6130 (May 25 low)
Comments: the pair bargains in a narrow range. The nearest resistance - $1.6350. Above growth is possible to $1.6440. The nearest support $1.6300. Below  decrease is  possible to $1.6240. 

06:33
Tech on EUR/USD

 

Resistance 3: $ 1.4565 (61.8 % FIBO $1.4940-$ 1.3960)
Resistance 2: $ 1.4450/60 (Jun 1 high, 50.0 % FIBO $1.4940-$ 1.3960)
Resistance 1: $ 1.4370 (session high)
Current price: $1.4358
Support 1 : $1.4260 (May 30 low, 38.2 % FIBO $1.3960-$ 1.4460)
Support 2 : $1.4200 (50.0 % FIBO $1.3960-$ 1.4460, support line from May 23)
Support 3 : $1.4155 (61.8 % FIBO $1.3960-$ 1.4460)
Comments: the pair slightly receded from the low reached yesterday. The nearest support $1,4260. Below losses are possible to $1.4200. The nearest resistance $1.4370. Above growth is possible to $1,4450/60. 

 

06:06
Schedule for today, Thursday, Jun 02'2011:

 

01:30 Australia Trade Balance (Apr) 1597.00M 2.13M 1691.00M
01:30 Australia Retail Sales s.a. (MoM) (Apr) 1.1% 0.4% -0.3%
12:30 USA Jobless claims (week to 28.05) - 424K
14:00 USA Factory orders (April) -0.8% 3.4%
14:30 United States EIA Crude Oil Stocks change (May 27) 0.6 

 

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