CFD Markets News and Forecasts — 27-06-2011

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27.06.2011
18:53
GBP/USD in a narrow range

GBP/USD holds around $1.5975/80 area and remains just shy of the London fixing high level at $1.6010. Earlier offers capped further rally. Those offers extending up to $1.6025/30.

18:19
Dow +123.40 at 12057.98, Nasdaq +34.13 at 2687.02, S&P +11.22 at 1279.67

Three major indexes hold wothin a narrow range now, but near their best levels of the day. Overall action has dulled, which has made today's market watching less entertaining. Nonetheless, today's advance offsets last week's loss.

17:54
EUR/USD retreats

EUR/USD currently holds around $1.4261, retreating on profit-taking of euro crosses, including EUR/JPY and EUR/GBP. Earlier rate printed session high on $1.4293, a bit lower Friday's highs at $1.4305/10. Stops remain at $1.4315.

17:35
US focus: Euro gains on optimism Greece to vote for budget cuts

The euro strengthened amid optimism Greece’s parliament will approve austerity measures required to help avert the currency bloc’s first sovereign default.
Greek lawmakers start debating today the five-year, 78 billion-euro ($111 billion) package of budget cuts and asset sales that officials say is needed to receive a loan payment and future financing from the European Union and the International Monetary Fund.
The shared currency was also supported as Chinese Premier Wen Jiabao said his country will keep investing in Europe’s sovereign bond market.
“China has actually increased the purchase of government bonds of some European countries, and we haven’t cut back on our euro holdings,” Wen told yesterday. These acts “show our confidence in the economies of Europe and the euro-zone,” he said.

The pound strengthened on speculation the Bank of England may raise rates earlier than expected after the Bank for International Settlements said central banks need to start raising interest rates to control inflation.
New Zealand’s dollar slumped after a report showed the trade surplus narrowed in May more than forecast.
The nation’s trade surplus was NZ$605 million ($485 million) in May compared with the median estimate of economists for a NZ$1 billion surplus.

17:01
Dow +106.86 at 12041.44, Nasdaq +31.49 at 2684.38, S&P +10.46 at 1278.91

Stocks continue to trade near session highs. Buying has been both steady and broad since the early going.
Tech stocks, consumer discretionary stocks, and telecom plays have all caught up with financials, which were early market leaders. Now, each of the four sectors is sporting a 1.1% gain.

16:03
US and Canada's financial markets schedule for holidays:

US futures and bonds will observe an early close Friday ahead of the July 4 holiday weekend, US markets remaining closed Monday in observance of the holiday. Canadian markets will be closed Friday July 1 for the Canada Day holiday.

15:22
Dow +101.42 at 12036.00, Nasdaq +26.17 at 2679.06, S&P +9.53 at 1277.98

After a brief pause about one hour ago, stocks extended their climb to set fresh morning highs. Strength has been broad based.
The financials remain out in front of overall action with a 1.2% collective gain.
Among today's leaders Amazon.com (AMZN 198.47, +5.92), which was added to the Best Ideas List by analysts at Morgan Stanley (MS ).

14:57
USD/CAD weakens, holding currently at C$0.9967 ahead of the approach of quarter-end and the Canada Day holiday on July 1.
14:20
AUD/USD posted new session low

The rate posted new session low of $1.0390 finding support down here before bounced back to $1.0425. Resistance at $1.0460/70. Initial support remains at $1.0390 with stops through here. A break lower opens a move to $1.0250.

14:02
Dow +45.52 at 11980.10, Nasdaq +6.23 at 2659.12, S&P +3.61 at 1272.06

Stocks slipped shortly after the open, but have managed to make a quick rebound. The bounce has given the major equity averages modest gains.
Financials are primary source of early support. The sector has already sprint ahead to a 1.0% gain. Among financials, banks are in particularly good shape. Buying in the space has the KBW Bank Index up 1.4%

13:22
Before the bell:
U.S. stocks were poised to start the week little changed Monday, as investors digested personal income and spending data.
Investors were also bracing for Greece's parliament to begin debating the Greece austerity plan, mandated by the European Union and International Monetary Fund in exchange for a financial rescue package for the debt-stricken country.
It has been a difficult three months for Wall Street. The Dow has fallen 3% since March 3, while the broader market S&P 500 index is down 4.3%.
Despite recent weakness and volatility, the market could be in store for a rebound next month, and in the second half of the year.
Economy: Personal income rose 0.3% in May, the Commerce Department reported Monday. That was slightly lower than the 0.4% economists had forecast, and follows a 0.4% rise in April.
Spending was unchanged in May, after ticking up 0.4% in the previous month. Economists surveyed were looking for spending to have edged up 0.1% last month.
World markets:

Companies: Citigroup (C, Fortune 500) said 3,400 of the customers who were hacked in its recent data breach suffered about $2.7 million in losses. The news came after the company said last week it discovered that more than 360,000 accounts had been hacked.
Shares of Chinese company LDK Solar (LDK) surged more than 7% after the company said it plans to buy back $110 million of its American depositary shares.
Appliance maker Stanley Black & Decker (SWK, Fortune 500) made a $1.2 billion offer to buy Swedish information technology company Niscayah Group. Shares of Stanley Black & Decker rose about 1% in premarket trading.
Athletic apparel giant Nike (NKE, Fortune 500) is scheduled to report its earnings after the closing bell.
Oil for August delivery slipped 36 cents to $90.80 a barrel.
Gold futures for August delivery added $2.60 to $1,503.60 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 2.88%, from 2.86% late Friday.
13:01
Option expiries for today's 1400GMT cut:

EUR/USD $1.4100, $1.4160, $1.4200, $1.4350, $1.4370
USD/JPY Y80.10, Y80.30, Y80.50, Y81.00, Y82.00
GBP/USD $1.5900, $1.6115
AUD/USD $1.0580

12:32
US: May Personal Income +0.3%, PCE flat (worst since -0.6% in Sept '09), PCE core prices +0.3% for +1.2% YOY.
12:14
European session

The euro strengthened against most of its 16 major peers tracked by Bloomberg amid optimism Greece’s parliament will approve austerity measures required to help avert the currency bloc’s first sovereign default.
The Dollar Index erased an earlier gain as Vittorio Grilli, head of the European Union’s Economic and Finance Committee, met representatives of some of the world’s biggest banks to discuss how private investors can participate in a new rescue. Greek lawmakers will today start debating the 78 billion-euro ($111 billion) budget package that officials say is needed to receive a loan payment and future financing.
“The euro could be range-trading between $1.41 and $1.43 until we get to the vote,” said Lutz Karpowitz, a currency strategist at Commerzbank AG in Frankfurt. “We are pretty sure that the Greek parliament will let these austerity measures pass through. Everybody who understands what will happen if they do not agree to implement these reforms comes to the conclusion that there is no alternative.”
US data starts at 1230GMT with Personal Income/Expenditures and the PCE Price Index. Personal income is expected to rise 0.4% in May, as payrolls rose 54,000, the average workweek held steady at 34.4, and hourly earnings rose 0.3%. PCE is forecast to hold steady x.x% on the 0.2% decline in retail sales. Non-auto sales rose 0.3%. The core PCE price index is forecast to rise 0.2% following the 0.2% April gain.

12:01
European stocks

11:27
ECB, Stark: Greece must implement reforms, not possible overnight
11:13
ECB, Stark: have self-sustaining recovering in EMU, not in US
  • Global economy exited recession surprisingly fast, but global recovery uneven;
  • EMU has taken on a relatively solid economic development;
  • EMU to grow above potential 2011, 2012;
  • Notes risks from oil prices, U.S., Asian growth;
  • Monpol globally 'very expansive';
  • Such expansive monpol no longer appropriate.
11:06
GBP/USD reached $1.6010

Recovery extends to $1.6010, though move higher seen more driven by euro-dollar demand, as the cross again meets resistance in the area between stg0.8890/00. If rate can clear above $1.6010 to open a move toward $1.6025/30 ahead of stronger interest between $1.6050/55.

10:38
NYSE Euronext will resume the trading of shares on the CAC40 at 1045GMT.
10:26
European stocks

10:03
FRANCE SARKOZY: Wires quote French President Sarkozy Confirming govt has agreement with French banks for Greek debt rollover.
09:47
GBP/USD:

Continues to get pulled higher by euro-dollar's extended recovery, the rate moving through to challenge reported offers at $1.5985, posting highs at $1.5987. Rate currently trades back around $1.5980. Next resistance seen into $1.6000 ahead of $1.6025/30. Support now seen at $1.5950.

09:30
FTSE 5,698 +0.41%, CAC 3,785 -0.08%, DAX 7,121 -0.39%
09:03
EUR/USD: Makes another run to the topside, moves up to retest earlier recovery highs around $1.4170. Noted sell interest seen into $1.4175/80 ahead of $1.4195/00.
08:21
German Deputy Fin Min reported saying eurozone debt crisis is not a currnecy, or euro, crisis.
08:04
The Hang Seng Index closes down 0.59% at 22,041.77.
07:44
Asian session: the euro fell

Euro bears driving the region’s shared currency to its first two-month loss in a year are facing rising interest rates, bullish bets in futures markets and Angela Merkel’s determination to keep the 17-nation bloc intact.

The euro slid 4.2 percent since April as mounting concern that Greece would default drove Prime Minister George Papandreou to change finance ministers amid a push for 78 billion euros ($111 billion) in austerity measures to tap more financial aid. 
The slowing U.S. recovery has also provided support for the euro. The Fed lowered its full-year growth forecast last week, saying the economy will expand 2.7 percent to 2.9 percent versus a range of 3.1 percent to 3.3 percent estimated in April. The Bundesbank said on June 10 that German gross domestic product will rise 3.1 percent in 2011, up from a 2.5 percent increase predicted in February.
The first session of a three-day debate in Greece on new budget cuts is scheduled to begin today. A vote is expected on June 29. An implementation law, which provides the technical details of how the five-year plan will be applied, is also due to be discussed and approved by the deadline of June 30.

EUR/USD: the pair shown low in $1,4100 area then become stronger.
GBP/USD: the pair shown low in $1,5910 area then become stronger.
USD/JPY: the pair become stronger in  Y80,80 area.
US data starts at 1230GMT with Personal Income/Expenditures and the PCE Price Index. Personal income is expected to rise 0.4% in May, as payrolls rose 54,000, the average workweek held steady at 34.4, and hourly earnings rose 0.3%. PCE is forecast to hold steady x.x% on the 0.2% decline in retail sales. Non-auto sales rose 0.3%. The core PCE price index is forecast to rise 0.2% following the 0.2% April gain.

07:28
Hang Seng Index is down 0.78% at 21,998.35 mid-way through afternoon trade, having moved in a narrow range throughout the day
07:07
Japan's stock indices ended Monday's session lower.

The Nikkei 225 was down 100.40 points, or 1.04%, to stand at 9578.31. The broader-based TOPIX was down 7.47 points at 825.73.

06:43
Shanghai Composite Index is trading +0.32% at 2754.97 mid-way through the afternoon session.
06:39
Option expiries for today's 1400GMT cut:

EUR/USD  $1.4100, $1.4160, $1.4200
USD/JPY Y80.10, Y80.30, Y80.50, Y81.00, Y82.00
GBP/USD $1.5900, $1.6115
AUD/USD $1.0580

04:41
Stocks: Weekly review

Asia’s regional benchmark index recorded its first weekly gain after seven consecutive weeks of declines as hopes rose that China may have seized control of its economy and can end its cycle of rate increases.
China’s premier Wen Jiabao said in the Financial Times on Friday that Beijing was “confident price rises will be firmly under control this year”, and added that he expected inflation to drop steadily in the coming months.
The comments helped the Shanghai Composite index climb 2.2 per cent on Friday to 2,746.21 – its best daily performance in four months, and lifted it 3.9 per cent over the week – the best weekly rise since early November.
The broader FTSE Asia Pacific index climbed 2.1 per cent over the week to 256.1, ending seven straight weeks of losses.
Tokyo-listed exporters had a good week as companies with heavy exposure to European economies moved higher after investors rushed to cover short positions.
Sony climbed 1.7 per cent to Y1,407, while Toshiba added 2.7 per cent to Y344.
Japan’s power generators had a turbulent week as hopes for a resolution to the compensation claims issue surrounding Tokyo Electric Power were first raised on hopes of help from the government, then dashed by comments from an adviser, who told parliament it would be difficult to pass legislation.
Tepco’s shares have see-sawed violently since the March 11 earthquake that caused a leak of radioactive material, forcing nearby residents to leave their homes. But Tepco and its peers ended the week higher on hopes that mothballed nuclear reactors could soon return to production.
Shares in Tepco were up 6.2 per cent to Y308, while Chubu Electric Power added 3.8 per cent to Y1,474 and Kansai Electric Power gained 9.9 per cent to Y1,495.
The Nikkei 225 Average ended 3.5 per cent higher on the week at 9,678.71.

European shares extended their run of weekly losses to eight this week as the sell-off in the financial sector accelerated on concerns over the exposure of banks to the Greek debt crisis.
During early trade on Friday it had looked like the FTSE Eurofirst 300 index might break the losing streak, getting off to a strong start after Greece agreed new austerity measures.
Wall Street’s weak start, however, prompted selling and the pan-European benchmark finished down 0.1 per cent on the day – resulting in a 1.2 per cent loss over the week to 1,074.16.
Italy’s Banca Monte dei Paschi di Siena, down 11.4 per cent over the week to €0.53, was among the worst performing of the financial stocks.
Italy’s banks were under pressure after Moody’s on Friday warned that it had changed its outlook on 13 mid-sized and smaller Italian banks to negative and warned that it could downgrade the ratings on 16 others.
But there were strong gains for carmakers and aerospace stocks that helped limit the overall losses on the FTSE Eurofirst.
Porsche gained 10.4 per cent over the week to €52.77 while VW preference shares added 3.4 per cent to €122.95.
BMW gained 4.6 per cent on the week to €67.13 after it was reported to be pushing to increase its deliveries in the coming years, to 2m units in 2016, and up to 2.6m units by 2020.
French pair Renault and Peugeot made noteable gains also, up 5.8 per cent to €39.17 and 3 per cent to €29.87, respectively.
European aerospace group EADS climbed 4.5 per cent to €22.40 over the week after its wholly owned subsidiary Airbus on Monday announced an order for 60 of its A320 aircraft from General Electric’s commercial leasing and financing arm.

Risk assets took another beating in the final session of a volatile week on Wall Street, with technology stocks suffering particularly sharp losses after disappointing earnings from some of the key players in the industry.
Micron Technology, the chipmaker, saw the deepest losses on the S&P 500, falling 14.5 per cent to $7.21 after reporting a 92 per cent drop in earnings late in the previous session.
Oracle, the business software and hardware giant, fell 4.1 per cent to $31.14 after reporting lacklustre growth in its hardware segment. The losses came despite a 36 per cent rise in overall fourth-quarter earnings.
These losses helped weigh on the technology sector, which was down 1.8 per cent, the worst performing on Wall Street.
Other cyclical sectors also suffered as investors continued to worry about the uncertain situation in Europe and were mostly reluctant to buy in case of bad news over the weekend.
The industrial and financial sectors were down 1.2 per cent and 0.7 per cent, respectively. Among those stocks to lose ground were General Electric, which fell 2.2 per cent to $17.97, and Morgan Stanley, which declined 0.6 per cent to $22.21.
These losses left the S&P 500 down 1.2 per cent to 1,268.45, a loss of 0.2 per cent over the week, leaving it on track for its worst month of losses in a year.
The declines came despite some slightly better than expected economic data. The session saw GDP growth for the quarter revised up to 1.9 per cent from 1.8 per cent by the Bureau of Economic Analysis. This was an improvement, but still a far cry from the 3.1 per cent GDP growth posted in the fourth quarter of last year.
Durable good orders also rose by a stronger-than-expected 1.9 per cent in May on a rebound in demand for transportation equipment.
The Dow Jones Industrial Average was down 0.9 per cent to 11,937.30, leaving the index down 0.6 per cent over the week. The Nasdaq Composite was 1.3 per cent lower to 2,652.89 on Friday, but still up 1.4 per cent over the week.
In deal news, Williams, a natural gas group, launched a $4.9bn cash bid for Southern Union in an attempt to break up an already agreed deal between the target and Energy Transfer Equity.
The prospect of a bidding war left shares in Southern Union up 16.9 per cent to $39.92 and ETE down 5.6 per cent to $43.03. Williams was down 2.3 per cent to $28.55.
Airline stocks suffered substantial losses in the session led by United Continental Holdings, which fell 8.5 per cent to $23 after providing a disappointing guidance. Delta Airlines declined 4.9 per cent to $9.45 while Southwest Airlines lost 0.4 per cent to $11.36.
Airline stocks pared all of the gains that has been won in the previous session on the sharp drop in the oil price.
The week on Wall Street began upbeat as investors bought into a depressed market that had seen nearly seven straight weeks of losses.
But sentiment reversed on Wednesday after Ben Bernanke gave a cautious assessment of the US economy in a news conference, which then set the tone for the rest of the week.
The markets reacted badly to news that the Federal Reserve had cut US growth forecasts, raised inflation estimates and offered no hope that there would be another round of monetary stimulus.
Sentiment throughout the week was also weighed on by concerns over the sovereign debt crisis in Europe, which absorbed much of the interest and attention of traders.
Financial stocks were some of the worst performers of the week, weighed on by these concerns.
Bank of New York Mellon was down 6 per cent over the week to $24.64 while SunTrust Banks fell 4.5 per cent to $25.

04:41
Stocks: Weekly review

Asia’s regional benchmark index recorded its first weekly gain after seven consecutive weeks of declines as hopes rose that China may have seized control of its economy and can end its cycle of rate increases.
China’s premier Wen Jiabao said in the Financial Times on Friday that Beijing was “confident price rises will be firmly under control this year”, and added that he expected inflation to drop steadily in the coming months.
The comments helped the Shanghai Composite index climb 2.2 per cent on Friday to 2,746.21 – its best daily performance in four months, and lifted it 3.9 per cent over the week – the best weekly rise since early November.
The broader FTSE Asia Pacific index climbed 2.1 per cent over the week to 256.1, ending seven straight weeks of losses.
Tokyo-listed exporters had a good week as companies with heavy exposure to European economies moved higher after investors rushed to cover short positions.
Sony climbed 1.7 per cent to Y1,407, while Toshiba added 2.7 per cent to Y344.
Japan’s power generators had a turbulent week as hopes for a resolution to the compensation claims issue surrounding Tokyo Electric Power were first raised on hopes of help from the government, then dashed by comments from an adviser, who told parliament it would be difficult to pass legislation.
Tepco’s shares have see-sawed violently since the March 11 earthquake that caused a leak of radioactive material, forcing nearby residents to leave their homes. But Tepco and its peers ended the week higher on hopes that mothballed nuclear reactors could soon return to production.
Shares in Tepco were up 6.2 per cent to Y308, while Chubu Electric Power added 3.8 per cent to Y1,474 and Kansai Electric Power gained 9.9 per cent to Y1,495.
The Nikkei 225 Average ended 3.5 per cent higher on the week at 9,678.71.

European shares extended their run of weekly losses to eight this week as the sell-off in the financial sector accelerated on concerns over the exposure of banks to the Greek debt crisis.
During early trade on Friday it had looked like the FTSE Eurofirst 300 index might break the losing streak, getting off to a strong start after Greece agreed new austerity measures.
Wall Street’s weak start, however, prompted selling and the pan-European benchmark finished down 0.1 per cent on the day – resulting in a 1.2 per cent loss over the week to 1,074.16.
Italy’s Banca Monte dei Paschi di Siena, down 11.4 per cent over the week to €0.53, was among the worst performing of the financial stocks.
Italy’s banks were under pressure after Moody’s on Friday warned that it had changed its outlook on 13 mid-sized and smaller Italian banks to negative and warned that it could downgrade the ratings on 16 others.
But there were strong gains for carmakers and aerospace stocks that helped limit the overall losses on the FTSE Eurofirst.
Porsche gained 10.4 per cent over the week to €52.77 while VW preference shares added 3.4 per cent to €122.95.
BMW gained 4.6 per cent on the week to €67.13 after it was reported to be pushing to increase its deliveries in the coming years, to 2m units in 2016, and up to 2.6m units by 2020.
French pair Renault and Peugeot made noteable gains also, up 5.8 per cent to €39.17 and 3 per cent to €29.87, respectively.
European aerospace group EADS climbed 4.5 per cent to €22.40 over the week after its wholly owned subsidiary Airbus on Monday announced an order for 60 of its A320 aircraft from General Electric’s commercial leasing and financing arm.

Risk assets took another beating in the final session of a volatile week on Wall Street, with technology stocks suffering particularly sharp losses after disappointing earnings from some of the key players in the industry.
Micron Technology, the chipmaker, saw the deepest losses on the S&P 500, falling 14.5 per cent to $7.21 after reporting a 92 per cent drop in earnings late in the previous session.
Oracle, the business software and hardware giant, fell 4.1 per cent to $31.14 after reporting lacklustre growth in its hardware segment. The losses came despite a 36 per cent rise in overall fourth-quarter earnings.
These losses helped weigh on the technology sector, which was down 1.8 per cent, the worst performing on Wall Street.
Other cyclical sectors also suffered as investors continued to worry about the uncertain situation in Europe and were mostly reluctant to buy in case of bad news over the weekend.
The industrial and financial sectors were down 1.2 per cent and 0.7 per cent, respectively. Among those stocks to lose ground were General Electric, which fell 2.2 per cent to $17.97, and Morgan Stanley, which declined 0.6 per cent to $22.21.
These losses left the S&P 500 down 1.2 per cent to 1,268.45, a loss of 0.2 per cent over the week, leaving it on track for its worst month of losses in a year.
The declines came despite some slightly better than expected economic data. The session saw GDP growth for the quarter revised up to 1.9 per cent from 1.8 per cent by the Bureau of Economic Analysis. This was an improvement, but still a far cry from the 3.1 per cent GDP growth posted in the fourth quarter of last year.
Durable good orders also rose by a stronger-than-expected 1.9 per cent in May on a rebound in demand for transportation equipment.
The Dow Jones Industrial Average was down 0.9 per cent to 11,937.30, leaving the index down 0.6 per cent over the week. The Nasdaq Composite was 1.3 per cent lower to 2,652.89 on Friday, but still up 1.4 per cent over the week.
In deal news, Williams, a natural gas group, launched a $4.9bn cash bid for Southern Union in an attempt to break up an already agreed deal between the target and Energy Transfer Equity.
The prospect of a bidding war left shares in Southern Union up 16.9 per cent to $39.92 and ETE down 5.6 per cent to $43.03. Williams was down 2.3 per cent to $28.55.
Airline stocks suffered substantial losses in the session led by United Continental Holdings, which fell 8.5 per cent to $23 after providing a disappointing guidance. Delta Airlines declined 4.9 per cent to $9.45 while Southwest Airlines lost 0.4 per cent to $11.36.
Airline stocks pared all of the gains that has been won in the previous session on the sharp drop in the oil price.
The week on Wall Street began upbeat as investors bought into a depressed market that had seen nearly seven straight weeks of losses.
But sentiment reversed on Wednesday after Ben Bernanke gave a cautious assessment of the US economy in a news conference, which then set the tone for the rest of the week.
The markets reacted badly to news that the Federal Reserve had cut US growth forecasts, raised inflation estimates and offered no hope that there would be another round of monetary stimulus.
Sentiment throughout the week was also weighed on by concerns over the sovereign debt crisis in Europe, which absorbed much of the interest and attention of traders.
Financial stocks were some of the worst performers of the week, weighed on by these concerns.
Bank of New York Mellon was down 6 per cent over the week to $24.64 while SunTrust Banks fell 4.5 per cent to $25.

04:40
Forex: Weekly review

The euro lost ground against the dollar and dropped to a record low against the Swiss franc this week as worries over Greece’s fiscal crisis continued to undermine the single currency.
The weakness in the euro came amid continued uncertainty that Athens would be able to avoid defaulting on its debt obligations.
This was despite the Greek government winning a vote of confidence in parliament, which could pave the way for the implementation of an austerity budget and a fresh rescue package from its eurozone partners and the International Monetary Fund.
Analysts remained bearish on the single currency, however, given the possibility that the troubles in Greece could foster contagion to other indebted countries on the periphery of the eurozone.
Gabriel de Kock at Morgan Stanley said he expected the euro to fall to $1.36 against the dollar by the end of the year.
In addition, Mr de Kock said the fact that the European Central Bank was likely to continue raising eurozone interest rates could add to the pressure on the euro.
Over the week, the euro fell 0.9 per cent to $1.4179 against the dollar, lost 0.5 per cent to Y113.86 against the yen and dropped 2.2 per cent to SFr1.1867 against the Swiss franc.
The euro advanced against the pound, however, rising 0.3 per cent to £0.8862 over the week as the minutes of the Bank of England’s June policy meeting revealed that it was considering further quantitative easing to fuel the UK’s fragile recovery.
Sterling also dropped 1.2 per cent to a three-month low of $1.5993 against the dollar on the week.
The dollar found support elsewhere after Ben Bernanke, Federal Reserve chairman, confirmed the end of quantitative easing in the US, giving no hints that additional monetary stimulus would be forthcoming in the near future.
Over the week, the dollar gained 0.3 per cent to Y80.29 against the yen, rose 0.9 per cent to $1.0529 against the Australian dollar and climbed 0.3 per cent to $C0.9826 against the Canadian dollar.

04:38
Tech on USD/JPY

Resistance 3: Y81.80 (high of June) 

Resistance 2: Y81.10 (Jun 3, 15 and 16 high) 
Resistance 1: Y80.90 (session high) 
Current price: Y80.73
Support 1:Y80.40 (session low)  
Support 2:Y80.00 (Jun 17-20 and 22 low)  
Support 3:Y79.70 (Jun 8 low)  
Comments: the pair  grown. The immediate resistance - Y80.90. Above growth is possible to Y81.10. The immediate support - Y80.40. Below losses are possible to Y80.00.

04:36
Tech on USD/CHF

Resistance 3: Chf0.8440 (Jun 23 high, МА (200) for Н1)

Resistance 2: Chf0.8420 (resistance line from Jun 16)
Resistance 1: Chf0.8390 (Jun 24 high)
Current price: Chf0.8369
Support 1: Chf0.8330 (area of Jun 6, 7, 22, 24 low and session low)
Support 2: Chf0.8300 (psychological mark)
Support 3: Chf0.8200 (psychological mark)
Comments: the pair tested Chf0.8330 (the immediate support). Below lossmay extend to Chf0.8300. The immediate resistance Chf0.8390. Above is located Chf0.8420. 

04:34
Tech on GBP/USD

Resistance 3: $ 1.6070 (area of Jun 23 high and Jun 16 low)

Resistance 2: $ 1.6050 (area of Jun 24 high  and 38.2 % FIBO $1.6260-$ 1.5935)
Resistance 1: $ 1.5970 (session high)
Current price: $1.5929
Support 1 : $1.5910 (session low)
Support 2 : $1.5890 (61.8 % FIBO $1.5340-$ 1.6750)
Support 3 : $1.5820 (Jan 31 low)
Comments: the pair decreased. The immediate  support $1.5910. Below  decrease is possible  to $1.5890. The immediate  resistance - $1.5970. Above growth is possible to $1.6050. 

04:29
Tech on EUR/USD

Resistance 3: $ 1.4370 (support  line from Jun 7)

Resistance 2: $ 1.4310 (Jun 24 high)
Resistance 1: $ 1.4190 (session high)
Current price: $1.4125
Support 1 : $1.4100 (support line from May 23)
Support 2 : $1.4070 (Jun 16 low)
Support 3 : $1.3970 (May 23 low)
Comments: pair began week with decrease. The immediate support $1,4100. Below losses are possible to $1.4070. The immediate  resistance $1.4190. Above growth is possible to $1,4310. 

04:27
Schedule for today, Monday, Jun 27'2011:

12:30 USA  Personal income (May) 0.4% 0.4%

12:30 USA Personal spending (May) 0.1% 0.4%
12:30 USA PCE price index ex food, energy (May) - 0.2%
12:30 USA PCE price index ex food, energy (May) Y/Y - 1.0%
23:50 Japan Retail sales (May) Y/Y -2.2% -4.8%

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