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29.06.2011
19:00
GBP/USD set stable a bit lower session highs on $1.6073 - at $1.6055 now. Offers remain to $1.6075/80 area with stops above there.
18:45
USD/CHF tries to rise

USD/CHF rising again, currenyl holding around Chf0.8344. Rate printed an hourly low at Chf0.8332. Strong resistance remains at channel line from Jun 16 at Chf0.8370. The likelyhood of challenging the Chf0.8370 is low for today.

18:37
Dow +67.92 at 12256.61, Nasdaq +12.63 at 2741.94, S&P +9.62 at 1306.29

The stock market has slipped off of its session high. Still, overall gains remain strong as financials (+1.6%), energy (+1.3%), and materials Stocks (+1.7%) continue to provide considerable support.
But there were some laggards, including KB Home (KBH 10.16, -1.76), that is down about 15% in response to disappointing earnings for the latest quarter.
Family Dollar (FDO 53.85, +0.83) also reported earnings results that came short of Wall Street's consensus estimate, but the stock has managed to rally back from its opening gap down.

18:09
EUR/USD holds around session high on $1.4429. Offers remain at $1.4450.
17:54
Dow +80.33 at 12269.02, Nasdaq +14.04 at 2743.35, S&P +10.87 at 1307.54
17:40
ECB, Bini-Smaghi: Risk of Greek restructuring is scaring investors
17:35
ECB, Bini-Smaghi: Current 1.25% rate is accomodating
17:27
US focus: Euro advances as Greece passes austerity

The euro reached two-week high against the dollar as investors raised bets the European Central Bank will increase interest rates next week after the passage of austerity measures by Greek lawmakers.
The 17-nation currency also gained after Greek Prime Minister George Papandreou won with his 78 billion euro ($112 billion) package of budget cuts and state asset sales.

Canada’s dollar rose as consumer prices in Canada advanced 0.7% in May after a 0.3% gain in the previous month, Statistics Canada said today, making it more likely that the central bank will resume boosting borrowing costs.
The Bank of Canada kept its benchmark overnight lending rate at 1% on May 31, where it has been since September.
The franc slipped versus all of its major peers after the nation’s economic barometer fell in June, adding to signs the franc’s ascent and a faltering euro-region economy may hurt economic growth.
The monthly gauge that aims to predict the economy’s direction about six months ahead dropped to 2.23 from 2.30 in May, the KOF Swiss Economic Institute in Zurich said today.

17:10
Dow +70.46 at 12259.15, Nasdaq +13.18 at 2742.49, S&P +10.38 at 1307.05

Stocks set session highs before retreat. Still, overall gains remain solid.
Tech stocks are up 0.3%, but the tech sector has spent most of the day lagging the broad market. Among techs outsiders the Microsoft (MSFT 25.65, -0.15) is under selling pressure.

16:45
FED's Raskin: The latest employment report was weak
16:28
EUR/GBP remains under pressure and strategists at Lloyds recommend selling the cross at stg0.8990 area with a stop on a 4-hour close above stg0.9061 and a profit-take at stg0.8740.
15:38
GBP/USD extending higher and currently trades just shy of the earlier high at $1.6057. Offers at $1.6060, cable last at $1.6050.
14:46
August light sweet crude oil post a high of $94.57 per barrel in the wake of the EIA data; oil currently holds around $94.30.
14:32
US: EIA oil data for Jun 24 wk: crude stocks -4.4m bbl to 359.5m bbl.
14:24
Dow +25.54 at 12214.23, Nasdaq -0.66 at 2728.65, S&P +4.18 at 1300.85

The tone of trade ahead of the open had been mostly upbeat, but a sell-the-news type of response has followed news that Greece passed a five-year austerity plan. A vote on the implementation of the plan is expected tomorrow.
Financials are showing strength this morning, though. The sector had lagged last session, but it is already up 0.9% today. Diversified finanical services plays like JPMorgan Chase (JPM 40.11, +0.57) and Bank of America (BAC 11.08, +0.26) are early leaders in the space.

14:01
US: May NAR pending home sales index +8.2%
13:43
EUR/JPY reversed its gains

Through support levels to trade a session low of Y115.90, demand met here nudging the rate to current levels Y116.10. Initial support at Y115.75/70 a break to open Y115.50/45. Offers remain at Y116.75/80.

13:21
Before the bell:

U.S. stocks were poised for a third day of gains Wednesday, as Greek parliament votes 155-138 to pass five-year austerity package
U.S. stocks rallied on Tuesday, with the Dow jumping 145 points, as investors cheered a report showing that home prices rose in April -- the first time in eight months.
Economy: The National Association of Realtors will release its May pending home sales data at 14:00 GMT. Economists predict that pending home sales slipped 0.6% in May after April's big 11.6% decline.
Companies: Shares of Bank of America (BAC, Fortune 500) rose 4% in premarket trading, after the bank announced it will pay $8.5 billion to settle mortgage-backed securities claims. Bank of America also said it expects to post a second-quarter loss of up to $9.1 billion.
Family Dollar Store (FDO, Fortune 500) reported quarterly earnings before the market open that missed Wall Street expectations -- sending shares of the company 3% lower.
Dell beats Apple hands down - StockTwits
Shares of General Mills (GIS, Fortune 500) slumped 2%, after the cereal maker posted earnings that were roughly in line with expectations, but said higher ingredient companies hurt its performance. The company's 2012 outlook fell short of expectations.
KB Home (KBH) shares fell 4% after the homebuilder reported a second quarter loss.
Monsanto (MON, Fortune 500)'s earnings widely beat expectations, which the company attributed to strength in its seeds business. Shares of Monsanto rose 4% in premarket trading.
World markets:

Oil for August delivery gained $1.21 to $94.10 a barrel.
Gold futures for August delivery rose $9 to $1,509.20 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 3.07% from 3.04% late Tuesday.

13:13
Greece's parliament has approved a package of austerity and privatization measures
12:54
Greece: Parlament begins voting on medium-term fiscal plan
12:41
European stocks
12:24
European session:

The euro advanced amid optimism Greek lawmakers will pass a package of austerity measures aimed at averting the currency region’s first sovereign default.
The 17-nation common currency climbed to the strongest level in a week versus the dollar as investors bet Greek Prime Minister George Papandreou will scrape through approval even as protests raged and workers took to the streets in a general strike. The greenback fell versus its major peers as rising stocks cut demand for the safety of U.S. assets.
“Expectations are that the vote will be passed today, albeit by a relatively close margin, and that, in the near term at least, is providing some upward momentum for the euro and riskier assets in general,” said Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ Ltd. in London. “We doubt that support is likely to last.”
Greek Prime Minister George Papandreou has called on lawmakers to “do their patriotic duty” and pass the bill, as well as a vote tomorrow to authorize implementation of the austerity plan, to ensure the debt-stricken nation can receive further rescue funds.
European confidence in the economic outlook dropped to the lowest in eight months in June. An index of executive and consumer sentiment in the 17-nation euro region fell to 105.1 from 105.5 in May, the European Commission in Brussels said today. That’s the lowest since October. Economists had forecast a decline to 105.
The Swiss franc slipped versus all of its major peers after the nation’s economic barometer fell in June, adding to signs the franc’s ascent and a faltering euro-region economy may hurt economic growth.
The monthly gauge that aims to predict the economy’s direction about six months ahead dropped to 2.23 from 2.30 in May, the KOF Swiss Economic Institute in Zurich said today. The US 24 June week EIA Crude Oil Stocks numbers are due at 1430GMT.

11:58
Bank of America sees Q2 net loss between $8.6 billion and $9.1 billion
11:51
GBP/USD test session high

Recovery extended to resistance/offers seen between $1.6045/55, a break of $1.6060 to expose stops, which if triggered to open a move on toward $1.6075/80.

11:34
GERMAN SCHAEUBLE: reaffirms need private sector contribution for Greece
11:31
UK Cameron: priority now is to work for stability in eurozone
10:57
Greek opposition MP will vote for the austerity measures
10:56
Option expiries for today's 1400GMT cut:

EUR/USD $1.4275, $1.4300, $1.4395, $1.4400
USD/JPY Y80.00, Y80.75, Y81.00
EUR/JPY Y113.50, Y115.00
GBP/USD $1.5900, $1.5950, $1.6000, $1.6100
EUR/GBP; stg0.8800
USD/CHF; Chf0.8340, Chf0.8400
EUR/CHF Chf1.2000, Chf1.2025
AUD/USD $1.0660, $1.0600, $1.0515, $1.0500
AUD/JPY Y83.50

10:34
EUR/JPY keeps positive mood

The cross has broken above the Ichimoku cloud top at Y116.50 with bulls now eyeing gains to Y117.10/25, where former is a resistance line from April 11 and latter the 38.2% of Y123.30-Y113.50 move. The daily studies are pointing increasingly higher and imply risk of an upside break to test Y117.90 resistance.

10:14
European stocks:
09:49
Yen under pressure

USD/JPY test offers in place at Y81.20. Stops through Y81.30/35.  Japanese banks reporting good demand for AUD/USD linked to Toshin Fund demand. Stops in place through Y86.20 and support at Y85.40/30.

09:34
FTSE 5,830 +1.10%, CAC 3,899 +1.22%, DAX 7,262 +1.28%
09:21
Option expiries for today's 1400GMT cut:

EUR/USD $1.4275, $1.4300, $1.4395, $1.4400
USD/JPY Y80.00, Y80.75, Y81.00
EUR/JPY Y113.50, Y115.00
GBP/USD $1.5900, $1.5950, $1.6000, $1.6100
EUR/GBP stg0.8800
USD/CHF Chf0.8340, Chf0.8400
AUD/USD $1.0660, $1.0600, $1.0515, $1.0500
AUD/JPY Y83.50

09:01
EMU DATA: Economic sentiment in the Eurozone 105.1; business climate +0.92
08:32
BOE: UK May Net Consumer Credit stg0.2 bln
08:16
Asian session:

 

Australia’s dollar rose against most of its major counterparts as speculation the Greek parliament will approve a package of austerity measures today boosted demand for higher-yielding assets.
New Zealand’s currency strengthened for a second day against the greenback as Asian stocks rallied. Gains in the two South Pacific nations’ dollars were tempered amid concern Europe will still struggle to contain its sovereign debt woes.
The 17-nation currency was still headed for a second quarterly gain on speculation Greece’s debt crisis won’t prevent the European Central Bank from raising interest rates next week to cool inflation. The dollar traded near the strongest in three weeks versus the yen after Treasury yields jumped yesterday, enhancing the allure of U.S. assets. South Korea’s won rose for a second day on speculation the central bank will boost interest rates after the government raised its inflation forecast.
The yen gained against the euro for the first time in three days on speculation Japanese companies bought the currency after yesterday’s declines.

 

EUR/USD: the pair  grown in area $1.4400.
GBP/USD: the pair holds in  $1.5975-$ 1.6010.
USD/JPY: the pair holds in Y80.90-Y81.10.

 

UK data is released at 0830GMT and includes the April Index of Services, BOE Lending to Individuals, May BOE Final M4 and May BOE Effective Rates.

At 0900GMT, the EMU June business climate indicator data is released. 

The US 24 June week EIA Crude Oil Stocks numbers are released at 1430GMT. 

 

08:06
Asia Pacific stocks close:

Nikkei 9,797  +1.54%
Hang Seng   22,050  -0.05%
S&P/ASX   4,529  +1.23%
Shanghai Composite 2,728 -1.11%

07:51
Forex: Tuesday's review

The euro gained against the majority of its most-traded counterparts on speculation Greece’s parliament will approve an austerity package needed to ensure more financial aid and stave off the currency union’s first sovereign default.
The shared currency erased losses versus the dollar after European Central Bank President Jean-Claude Trichet said policy makers are in “strong vigilance mode,” signaling they intend to raise interest rates next week. The dollar fell against most of its major peers as stocks and commodities rose.
The greenback extended its losses after a report showed confidence among U.S. consumers unexpectedly fell in June to a seven-month low.
The Standard & Poor’s 500 Index rose 1 percent. The Thomson Reuters/Jefferies CRB Index of raw materials increased for the first time in five days, climbing 1.2 percent.
The euro rose after Trichet’s comments at a press conference in Amsterdam. The ECB raised its benchmark rate in April for the first time in almost three years, lifting it by a quarter point to 1.25 percent.
Greek lawmakers vote on Wednesday on the austerity package and vote the next day on a measure implementing it. 
EUR/USD: on results of yesterday's session the pair grown in  $1.4370 area.
GBP/USD:  on results of yesterday's session positions of pair not changed.
USD/JPY: the pair shown high in  Y81.30 area then decreased and finished session in Y81.00  area.
UK data is released at 0830GMT and includes the April Index of Services, BOE Lending to Individuals, May BOE Final M4 and May BOE Effective Rates.
At 0900GMT, the EMU June business climate indicator data is released. 
The US 24 June week EIA Crude Oil Stocks numbers are released at 1430GMT. 

07:14
Stocks: Monday's review

Japanese stocks rose, paring a monthly loss for the Nikkei 225 Stock Average, on speculation Europe may be close to a deal that will allow cash-strapped Greece to roll over some of its debt, helping avert a default and a possible banking crisis.
Fanuc Corp. (6954), a maker of factory robots that gets 11 percent of sales in Europe, rallied 2.6 percent. Ricoh Co. climbed 1.2 percent after the Nikkei newspaper said the European Union will cut tariffs on some office equipment. Tokyo Steel Manufacturing Co. jumped 4 percent after Goldman Sachs Group Inc. raised its rating, saying the maker of construction materials will benefit as Japan rebuilds from the March earthquake and tsunami.
Sony Corp. (6758) which sells about 20 percent of its PlayStation game consoles and other products in Europe, advanced 0.3 percent to 2,038 yen. Nintendo Co., the world’s biggest maker of game, climbed 2.9 percent to 14,940 yen.
Lawmakers in Greece are due to vote on a five-year austerity plan this week that must pass for the country to secure more international aid. Greece needs loans from Europe and the International Monetary fund to cover 6.6 billion euros ($9.4 billion) of maturing bonds in August.

European stocks gained as investors speculated that Greek lawmakers will heed Prime Minister George Papandreou’s call to approve a package of austerity measures.
Standard Chartered Plc (STAN) rose 2.7 percent after the U.K.’s third-largest bank by market value said first-half profit before taxes may post “double-digit” growth from a year earlier. Prudential Plc (PRU) climbed 2.6 percent after Goldman Sachs Group Inc. upgraded the U.K.’s largest insurer to “buy.” TomTom NV (TOM2) plunged 27 percent after cutting full-year profit and sales forecasts as U.S. demand for its devices declined.
Papandreou faces his second survival test in a week tomorrow when lawmakers vote on the package of budget cuts and asset sales that’s needed before Greece can get the fifth loan payment from last year’s 110 billion-euro rescue. Failure to pass Papandreou’s 78 billion-euro plan may lead to the euro area’s first sovereign-debt default.
The first session of the three-day debate began in Athens yesterday. The Greek parliament will vote on June 29. Lawmakers also need to pass an implementation law, which provides the technical details of how the five-year plan will be applied, by June 30. Unions began their fourth general strike of the year at midnight, protesting against the plan.
U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a second day, amid optimism European nations will take action to prevent a Greek default and after Nike Inc. (NKE) beat earnings estimates.
Nike, the largest sporting-goods company, rallied 7 percent as sales climbed in North America. Schlumberger Ltd. (SLB) and Halliburton Co. (HAL) added at least 4.1 percent as crude oil rebounded from a four-month low on forecasts that U.S. fuel demand will rise before the Fourth of July holiday. Accenture Plc (ACN) rose 3.5 percent as the second-biggest technology-consulting firm will replace Marshall & Ilsley Corp. (MI) in the S&P 500.
The S&P 500 dropped 4.8 percent in June through yesterday amid concern about Europe’s debt crisis and weaker-than-expected economic data. The benchmark gauge was still up 1.8 this year through yesterday on government stimulus measures and better- than-expected earnings reports.
Stocks in the U.S. rose even after data showed home prices fell by the most in 17 months and confidence among American consumers unexpectedly fell to a seven-month low. The S&P/Case- Shiller index of property values in 20 cities fell 4 percent from April 2010, the biggest drop since November 2009. The Conference Board’s index decreased to 58.5 from a revised 61.7 reading in May that was higher than previously estimated.
Nike jumped 7 percent to $87.35. Chief Executive Officer Mark Parker has boosted sales and reduced marketing costs from a year earlier, when Nike promoted around the World Cup, to fight rising costs for cotton, labor and transportation that have reduced profitability in the apparel industry this year.

07:13
Tech on USD/JPY

Resistance 3: Y82.20 (high of May) 

Resistance 2: Y81.80 (May 31 high) 
Resistance 1: Y81.30 (Jun 28 high) 
Current price: Y81.06
Support 1:Y80.90 (session low)  
Support 2:Y80.65 (Jun 28 low)  
Support 3:Y80.40 (Jun 27 low)  
Comments: the pair holds in a narrow range. The immediate support - Y80.90. Below losses are possible to Y80.65. The immediate resistance - Y81.30. Above growth is possible to Y81.80. 

07:02
Tech on USD/CHF

Resistance 3: Chf0.8430 (area of Jun 22-23 high)

Resistance 2: Chf0.8400 (area of Jun 24 high)
Resistance 1: Chf0.8340 (resistance line from Jun 20)
Current price: Chf0.8301
Support 1: Chf0.8275 (Jun 28 low)
Support 2: Chf0.8200 (psychological mark)
Support 3: Chf0.8100 (psychological mark)
Comments: the pair holds at Chf0.8300 zone. The immediate support - Chf0.8275. Below loss may extend to Chf0.8200. The immediate resistance Chf0.8340. Above is located  Chf0.8400. 

06:30
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 and 28 high, 38.2 % FIBO $1.6260-$ 1.5935)
Resistance 1: $ 1.6010 (session high)
Current price: $1.6002
Support 1 : $1.5974 (session low)
Support 2 : $1.5910 (Jun 27-28 low)
Support 3 : $1.5890 (61.8 % FIBO $1.5340-$ 1.6750)
Comments: the pair holds in a narrow range. The immediate support $1.5975. Below  decrease is  possible to $1.5910. The immediate resistance - $1.6010. Above growth is possible to $1.6050.  

06:11
Tech on EUR/USD

Resistance 3: $ 1.4500 (Jun 14 high)

Resistance 2: $ 1.4440 (Jun 22 high)
Resistance 1: $ 1.4400 (Jun 28 high)
Current price: $1.4366
Support 1 : $1.4340 (session low)
Support 2 : $1.4280 (Jun 28 low)
Support 3 : $1.4170 (low of american session on Jun 27)
Comments: the pair grown. The immediate resistance $1.4400. Above growth is possible to $1,4440. The immediate support $1,4340. Below losses are possible to $1.4280.

05:42
Schedule for today, Wednesday, Jun 29'2011:

08:30 UK M4 money supply (May) final - 0.1%

08:30 UK M4 money supply (May) final Y/Y - -0.9%
08:30 UK Consumer credit (May), bln 0.5 0.5
09:00 EU(17) Economic sentiment index (June) 105.1 105.5
09:00 EU(17) Business climate indicator (June) 0.95 0.99
11:00 Canada CPI (May) 0.2% 0.3%
11:00 Canada CPI (May) Y/Y 3.2% 3.3%
11:00 Canada CPI core (May) 0.2% 0.2%
11:00 Canada CPI core (May) Y/Y 1.5% 1.6%
14:00 United States Pending Home Sales (MoM) (May) 0.8% -11.6%
14:30 United States EIA Crude Oil Stocks change (Jun 24) -1.7M
23:01 United Kingdom Gfk Consumer Confidence (Jun) -24 -21

04.07.2011
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