Forex - GBP/USD weekly outlook: April 1 - 5

The pound was little changed against the dollar on Friday as trade remained light with many markets closed for Good Friday.

GBP/USD hit a session high of 1.5219 on Friday, before settling at 1.5190, dipping 0.02% for the day and ending the week just 0.09% higher.

Cable is likely to find support at 1.5094, the low of March 27 and resistance at 1.5258, the high of March 25.

Demand for the dollar was underpinned following the release of better-than-expected U.S. data on consumer sentiment and personal sending.

The University of Michigan's consumer sentiment index came in at 78.6, up sharply from the preliminary reading of 71.8, and above expectations for a reading of 72.5.

A separate report showed that personal-consumption expenditures in the U.S. rose 0.7% in February, the largest rise since September.

The data came one day after revised data showed that the U.S. economy expanded at an annual rate of 0.4% in the three months to December, lower than forecasts for a 0.5% expansion.

The growth rate was the slowest since the first quarter of 2011, but was higher than initial estimates for growth of 0.1%.

Safe haven demand for the greenback was also supported by ongoing concerns over the situation in Cyprus and political uncertainty in Italy.

Sterling had gained ground against the dollar on Thursday after data showing that the U.K. services sector grew at the strongest pace in five months in January eased concerns over the risk of a recession.

The Office for National Statistics said U.K. service output rose 0.3% in January, the biggest rise since August, bringing the annualized rate of output to 0.8%.

The report eased concerns over prospects for a triple-dip recession after previous economic data showed that U.K. manufacturing output fell at the fastest rate in six months in January.

In the week ahead investors will be awaiting the outcome of Thursday's Bank of England policy meeting, although the bank is widely expected to leave monetary policy unchanged. The U.S. is scheduled to release the closely watched government report on nonfarm payrolls on Friday.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, April 1

Markets in the U.K. are to remain closed for Easter Monday.

In the U.S., the Institute of Supply Management is to release a report on manufacturing activity, a leading economic indicator.

Tuesday, April 2

The U.K. is to release a report on manufacturing activity and government data on net lending to individuals.

The U.S. is to publish official data on factory orders, a leading indicator of production.

Wednesday, April 3

The U.K.is to produce a report on construction sector activity, a leading economic indicator.

The U.S. is to release data on ADP nonfarm payrolls, which tracks private sector job creation and leads government data by two days. The U.S. is also to produce official data on crude oil stockpiles, while the ISM is to release a report on service sector activity, a leading indicator of economic health. 

Thursday, April 4

The U.K. is to publish a report on service sector activity, while the BoE is to announce its benchmark interest rate and publish its rate statement.

The U.S. is to release the weekly government report on initial jobless claims. Federal Reserve Chairman Ben Bernanke is to speak; his comments will be closely watched for any indications on the future possible direction of monetary policy.

Friday, April 5

The U.S. is to round up the week with the closely watched government report on nonfarm payrolls and the unemployment rate, as well as data on average hourly earnings and the trade balance.

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Forex - EUR/USD weekly outlook: April 1 - 5

The euro was hovering above four-month lows against the dollar in subdued trade on Friday as lingering concerns over a bailout deal for Cyprus and political uncertainty in Italy saw investors shun the single currency.

EUR/USD hit a session low of 1.2794 on Friday, before settling at 1.2821, edging up 0.03% to end the week 0.28% lower.

The pair was likely to find support at 1.2752, Wednesday's low and a four-month trough and resistance at 1.2890, the high of March 26.

Banks in Cyprus reopened for the first time in almost two weeks on Thursday with strict capital controls in place, having been closed since March 16 amid fears of a bank run while bailout talks were under way.

On Friday Cypriot President Nicos Anastasiades said that Cyprus has no intention of leaving the euro zone, saying "in no way will we experiment with the future of our country".

But investors remained wary that the bailout deal for Cyprus could set a precedent for future bailouts in larger euro zone states, with big bank depositors and senior bond holders forced to suffer losses.

Meanwhile, Italy saw borrowing costs edge higher amid growing doubts over whether a stable coalition government can be formed amid political deadlock.

The euro was little changed against the pound and the yen on Friday, with EUR/GBP inching up 0.04% to settle at 0.8440 and EUR/JPY easing up 0.10% to settle at 120.79.

The dollar remained supported following the release of better-than-expected U.S. data on consumer sentiment and personal sending.

The University of Michigan's consumer sentiment index came in at 78.6, up sharply from the preliminary reading of 71.8, and above expectations for a reading of 72.5.

A separate report showed that personal-consumption expenditures in the U.S. rose 0.7% in February, the largest rise since September.

The data came one day after revised data showed that the U.S. economy expanded at an annual rate of 0.4% in the three months to December, lower than forecasts for a 0.5% expansion.

The growth rate was the slowest since the first quarter of 2011, but was higher than initial estimates for growth of 0.1%.

In the week ahead investors will be focusing the outcome of Thursday's European Central Bank policy meeting. The bank is not widely expected make any changes to monetary policy despite uncertainty in the euro zone since its last meeting.

The U.S. is scheduled to release the closely watched government report on nonfarm payrolls on Friday.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, April 1

Markets in Germany, Italy and France are to remain closed for Easter Monday.

In the U.S., the Institute of Supply Management is to release a report on manufacturing activity, a leading economic indicator.

Tuesday, April 2

Germany is to release preliminary data on consumer price inflation, which accounts for the majority of overall inflation.

Spain is to produce government data on the change in the number of people unemployed, a leading indicator of economic health. Spain and Italy are to publish reports on manufacturing activity.

The euro zone is to publish official data on the unemployment rate across the currency bloc.

The U.S. is to publish official data on factory orders, a leading indicator of production.

Wednesday, April 3

The euro zone is to release preliminary data on consumer price inflation, which accounts for the majority of overall inflation.

The U.S. is to release data on ADP nonfarm payrolls, which outlines private sector job creation and leads government data by two days. The U.S. is also to produce official data on crude oil stockpiles, while the ISM is to release a report on service sector activity, a leading indicator of economic health. 

Thursday, April 4

Spain and Italy are to release data on service sector activity, while the euro zone is to produce revised data on service sector activity across the currency bloc. Meanwhile, Spain and France are to hold auctions of government debt.

The ECB is also to announce its benchmark interest rate and release its monetary policy statement. The announcement is to be followed by a press conference with ECB President Mario Draghi.

The U.S. is to release the weekly government report on initial jobless claims. Federal Reserve Chairman Ben Bernanke is to speak; his comments will be closely watched for any indications on the future possible direction of monetary policy.

Friday, April 5

The euro zone is to release official data on retail sales and revised data on fourth quarter economic growth. Germany is to publish official data on factory orders, a leading indicator of production.

The U.S. is to round up the week with the closely watched government report on nonfarm payrolls and the unemployment rate, as well as data on average hourly earnings and the trade balance.

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Forex Signal for 28 March 2013

                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)


For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 

EUR/USD

Trading Range:   1.29500 - 1.28000

Down Trend : SELL

(1) SELL

E/P: 1.27943 

T/P: 1.27500

S/L: 1.28300

 

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GBP/USD

Trading Range: Trading Range:   1.51500 - 1.50000

Down Trend: SELL

(1) SELL

E/P: 1.51297

T/P: 1.50800

S/L: 1.51600

(2) SELL

E/P: 1.51120

T/P: 1.50800

S/L: 1.51600

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

PLEASE NOTE THAT THE DAILY SIGNALS IS SENT ON TIME TO OUR SUBSCRIBERS ONLY.

For faster signals services and on time real analysis delivered to your email address and phone number
subscribe to our signals service, click here for more details

OPEN A FOREX TRADING ACCOUNT AND WITHDRAW YOUR PROFIT INTO YOUR NIGERIAN BANK ACCOUNT (NAIRA ACCOUNT).

Wish you all a successful forex trading. Always remember to use your stop loss to avoid much loss on your trading account,,,

One Love Brothers

 ................................................................................................................................................................

HIGH RISK INVESTMENT WARNING: Trading foreign exchange, contracts for differences, or spread bets on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. Before deciding to trade the forex market, you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. We provides general advice that does not take into account your objectives, financial situation or needs. The content of this Website must not be construed as personal advice. We recommends you seek advice from a separate financial advisor. 

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EUR/USD March 29 – Steady as US Data Disappoints

It’s been a rough week for the EUR/USD, but the pair is steady in Friday’s European session, trading in the low 1.28 range. The euro was helped by weak US data on Thursday, as employment and GDP numbers missed expectations. In Cyprus, banks across the country reopened for the first time in almost two weeks, with relative calm reported. In economic news, French Consumer Spending disappointed, as it was way off the estimate. In the US, Friday’s highlight is the UoM Consumer Sentiment.

Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.

EUR/USD Technical

• Asian session: Euro/dollar dipped below the 1.28 line late in the session. In European trading, the pair has crossed back above 1.28.
• Current range: 1.2805 to 1.2880

Further levels in both directions:  

• Below: 1.2805, 1.2746, 1.27, 1.2660 and 1.2587.
• Above:  1.2805, 1.2880, 1.2960, 1.3000, 1.3100, 1.3130 and 1.3170.
• 1.2805 is providing weak support to the pair. 1.2746 is stronger.
• 1.2880 is the next resistance line.

Euro steady as Cyprus concerns recede, US numbers weak– click on the graph to enlarge.

EUR/USD Fundamentals

• 7:45 French Consumer Spending. Exp. 0.3%. Actual -0.2%
• 10:00 Italian Preliminary CPI. Exp. 0.3%
• 12:30 US Core PCE Price Index. Exp. 0.1%
• 12:30 US Personal Spending. Exp. 0.6%
• 12:30 US Personal Income. Exp. 1.0%
• 13:55 US Revised UoM Consumer Sentiment. Exp. 73.2 points
• 13:55 US Revised UoM Inflation Expectations

For more events and lines, see the Euro to dollar forecast

EUR/USD Sentiment

• Cyprus Jitters Ease: The Cyprus bailout crisis, which has been in the financial headlines for the past two weeks, has eased, at least for now. There was calm as country’s banks reopened on Thursday, after being tightly shut for almost two weeks. Fearing a bank run, the government has imposed strict controls, including limiting withdrawals to 300 euros a day, and a ban on cashing checks. Under the bailout agreement between Cyprus, the EU and the IMF, bank deposits under 100,000 euros will continue to be insured. However, it remains  unclear what kind of tax will be imposed on larger desposits. As well, under the agreement, Laiki, one of the country’s biggest banks, will be shut down.The original bailout agreement provided for a tax on all Cypriot bank deposits, and this had fueled fears that bank deposits could be taxed or seized in any EU country. Although this tax grab was quickly shelved after a huge outcry in Cyprus, the damage to investor confidence will take time to repair.
• Italian Political Crisis Continues: The markets have been busy with the Cyprus bailout fiasco for the past two weeks, but the crisis in Italy hasn’t magically disappeared, and help does not seem on the way. Coalition talks have not made progress, as the anti-establishment 5-Star Movement has rejected overtures from center-left leader Pier Luigi Bersani. New elections may be the only solution for the Eurozone’s third largest economy. Analysts have noted that Greece also was forced to call new elections, and such a move will certainly not increase investor confidence in the Eurozone.
• Which way Germany?: Mario Draghi is exuding confidence that the Eurozone economy will improve later in 2013, but that certainly won’t happen if the German economy doesn’t lead the way. However, German data has been a mix recently, and this was underscored in Thursday’s releases. Retail Sales rose 0.5%, blowing past the estimate of a 0.4% decline. However, Unemployment Change hit a five-month high, jumping to 13 thousand. This was a major disappointment, as the markets had anticipated a respectable drop of 2 thousand. Unemployment was unchanged at 6.9%.
• US data disappoints: There has been a lot of talk of the US recovery gaining traction, but this week has been a bust, as economic releases pointed to weakness in a wide range of sectors in the US economy. There were two major housing releases this weeks, and hopes of strong numbers were dashed. New Home Sales fell sharply from 437 thousand to 411 thousand, well below expectations. Pending Home Sales, also looked weak, declining 0.4%. The forecast stood at -0.3%. Unemployment Claims have looked sharp over the past four weeks, but slumped this time around, coming in at 357 thousand, well above the estimate of 340 thousand. Final GDP rose 0.4%, missing the forecast of 0.5%. Earlier in the week, manufacturing and consumer confidence also missed their estimates. Put simply, this has been a week has been one that the markets will be happy to forget.

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EUR/USD Unable to Recover, Despite Strong German Data

EUR/USD gradually climbed up from support at 1.2750 and made its way towards 1.28. The pair already crossed this level, but was unable to keep it up.

This comes despite strong German data and as markets await the opening of banks in Cyprus.

Update: The pair now falls to support on weak unemployment figures.

German retail sales rose by 0.4%, significantly exceeding the drop of 0.5% that was anticipated. Last month’s figure was revised from +3.1% to +3%.

Nevertheless, EUR/USD is now at 1.2788, down from 1.2814 seen earlier.

Banks in Cyprus open at 10:00 GMT and the tension is high. Capital controls have been imposed to prevent a massive bank run. They are currently planned for only one week, but they could be extended.

The stock exchange remains closed in Cyprus.

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EUR/USD Falls to Support on weak German employment data

After the euro was unable to climb on positive data from Germany, it now falls towards the 1.2750 support line on weak German data: the number of unemployed people rose by 13K, contrary to expectations for a drop of 2K. The unemployment rate remains at 6.9%.

The opening of banks in Cyprus is awaited.

EUR/USD made an attempt to rise above 1.2805 beforehand, climbing up from support at 1.2750. A strong retail sales figure from Germany helped, but wasn’t enough to make the break.

After this figure, the pair is falling. Banks in Cyprus are scheduled to open at 10:00 GMT, and capital controls have been imposed to prevent a bank run.

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European stocks higher, eyes on Cyprus and Italy; Dax up 0.21%

European stocks edged higher on Thursday, although investors remained cautious as Cyprus banks were to reopen later in the day, while concerns over political deadlock in Italy persisted. 

During European morning trade, the EURO STOXX 50 added 0.19%, France’s CAC 40 edged up 0.13%, while Germany’s DAX 30 rose 0.21%. 

Investors remained cautious as Italian centre-left leader Pier Luigi Bersani seemed to have only slim hope of forming a government after talks with rival party leaders ended on Wednesday with rejection from Beppe Grillo's 5-Star Movement. 

Markets were also jittery as Cyprus prepared to reopen its banks for the first time in nearly two weeks, with fears of bank runs prompting the government to impose a number of controls, including limiting withdrawals and banning cheques. 

Financial stocks were broadly higher, as shares in French lenders Societe Generale and BNP Paribas added 0.12% and 0.88%, while Germany's Deutsche Bank jumped 1.25%. 

Among peripheral lenders, Italian banks Intesa Sanpaolo and Unicredit climbed 0.53% and 043% respectively, while Spain's BBVA and Banco Santander slipped 0.15% and 0.01%. 


Elsewhere, Dutch cable operator Ziggo saw shares soar 9.05%, following reports Liberty Global bought a 12.65% stake in the company. 

In London, FTSE 100 added 0.19%, as U.K. lenders tracked their European counterparts higher, while data showed that U.K. house prices were flat in March. 

Shares in HSBC Holdings edged up 0.19% and the Royal Bank of Scotland climbed 0.45%, while Barclays and Lloyds Banking advanced 0.86% and 1.13% respectively. 

Meanwhile, mining stocks were also on the upside, as Rio Tinto gained 0.31% and rival Evraz surged 1.98%, while copper producer Xstrata rose 0.19%. 

On the downside, ICAP plummeted 1.26%%, after the world’s largest broker of transactions between banks said profit will slip this year. 

In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.04% gain, S&P 500 futures signaled a 0.07% loss, while the Nasdaq 100 futures indicated a 0.04% rise. 

Also Thursday, official data showed that German retail sales rose unexpectedly in February, ticking up 0.4% after a 3% rise the previous month. 

Analysts had expected retail sales to fall 0.1% last month. 

Later in the day, the U.S. was to release the weekly government report on initial jobless claims as well as revised data on fourth quarter economic growth.

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Forex Trading Signals for 27th March 2013

                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)


For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 

EUR/USD

Down Trend : SELL

E/P: 1.28500

T/P: 1.28000

S/L: 1.29000

,

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GBP/USD

Down Trend: SELL

E/P: 1.51300

T/P: 1.50900

S/L: 1.51700

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PLEASE NOTE THAT THE DAILY SIGNALS IS SENT ON TIME TO OUR SUBSCRIBERS ONLY.

For faster signals services and on time real analysis delivered to your email address and phone number
subscribe to our signals service, click here for more details

OPEN A FOREX TRADING ACCOUNT AND WITHDRAW YOUR PROFIT INTO YOUR NIGERIAN BANK ACCOUNT (NAIRA ACCOUNT).

Wish you all a successful forex trading. Always remember to use your stop loss to avoid much loss on your trading account,,,

One Love Brothers

 ................................................................................................................................................................

HIGH RISK INVESTMENT WARNING: Trading foreign exchange, contracts for differences, or spread bets on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. Before deciding to trade the forex market, you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. We provides general advice that does not take into account your objectives, financial situation or needs. The content of this Website must not be construed as personal advice. We recommends you seek advice from a separate financial advisor. 

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Forex Trading Signals for 26th March 2013

                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)


For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 

EUR/USD

Down Trend : SELL

E/P: 1.29000

T/P: 1.28700

S/L: 1.29600

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GBP/USD

Down Trend: SELL

E/P: 1.51591

T/P: 1.52000

S/L: 1.51000

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

PLEASE NOTE THAT THE DAILY SIGNALS IS SENT ON TIME TO OUR SUBSCRIBERS ONLY.

For faster signals services and on time real analysis delivered to your email address and phone number
subscribe to our signals service, click here for more details

OPEN A FOREX TRADING ACCOUNT AND WITHDRAW YOUR PROFIT INTO YOUR NIGERIAN BANK ACCOUNT (NAIRA ACCOUNT).

Wish you all a successful forex trading. Always remember to use your stop loss to avoid much loss on your trading account,,,

One Love Brothers

 ................................................................................................................................................................

HIGH RISK INVESTMENT WARNING: Trading foreign exchange, contracts for differences, or spread bets on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. Before deciding to trade the forex market, you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. We provides general advice that does not take into account your objectives, financial situation or needs. The content of this Website must not be construed as personal advice. We recommends you seek advice from a separate financial advisor. 

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Forex Trading Signals for 25th March 2013

                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)


For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 

EUR/USD

Down Trend : SELL

E/P: 1.29600

T/P: 1.2900

S/L: 1.30300

,,,,

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GBP/USD

Down Trend: SELL

E/P: 1.52400

T/P: 1.51900

S/L: 1.52900

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

PLEASE NOTE THAT THE DAILY SIGNALS IS SENT ON TIME TO OUR SUBSCRIBERS ONLY.

For faster signals services and on time real analysis delivered to your email address and phone number
subscribe to our signals service, click here for more details

OPEN A FOREX TRADING ACCOUNT AND WITHDRAW YOUR PROFIT INTO YOUR NIGERIAN BANK ACCOUNT (NAIRA ACCOUNT).

Wish you all a successful forex trading. Always remember to use your stop loss to avoid much loss on your trading account,,,

One Love Brothers

 ................................................................................................................................................................

HIGH RISK INVESTMENT WARNING: Trading foreign exchange, contracts for differences, or spread bets on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. Before deciding to trade the forex market, you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. We provides general advice that does not take into account your objectives, financial situation or needs. The content of this Website must not be construed as personal advice. We recommends you seek advice from a separate financial advisor. 

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