European stocks remain sharply lower after E.Z. data; Dax down 0.65%

European stocks remained sharply lower on Friday, after the release of downbeat euro zone data added to concerns over the outlook for growth in the single currency bloc, while markets eyed U.S. data to be published later in the day. 

During European afternoon trade, the EURO STOXX 50 declined 0.72%, France’s CAC 40 slid 0.70%, while Germany’s DAX 30 retreated 0.65%. 

Sentiment weakened after official data showed that the unemployment rate in the euro zone rose to a new record high of 12.2% in April, from 12.1% the previous month, in line with expectations. 

Separately, a preliminary report showed that the bloc's consumer price index rose to an annualized rate of 1.4% this month, from 1.2% in April, as anticipated. 

The data came after Destatis said that German retail sales fell 0.4% in April, disappointing expectations for a 0.2% rise, after a 0.1% decline the previous month. 

Financial stocks remained broadly lower, as French lender Societe Generale declined 0.39%, while Germany's Commerzbank and Deutsche Bank plummeted 1.07% and 0.91%. 

Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA slid 0.54% and 0.96% respectively, while Italy's Unicredit and Intesa Sanpaolo retreated 0.69% and 1.10%. 

Elsewhere, Roche tumbled 1% after a study in south-east Asia showed the effectiveness of its Tamiflu drug remained unchanged when the dosage was doubled for patients with severe influenza. 

In London, FTSE 100 declined 0.91%, even as data showed that net lending to individuals in the U.K. rose by more-than-expected in April. 

Financial stocks remained mostly lower, as Lloyds Banking edged down 0.15^ and Barclays slid 0.30%, while HSBC Holdings plummeted 1.54%. The Royal Bank of Scotland overperformed on the other hand, adding 0.29%. 

Mining stocks also remained on the downside, as BHP Billiton and Rio Tinto saw shares retreat 0.01% and 0.95% respectively, while Anglo American eased 0.03%. 

Separately, coal producer Bumi plunged 1.82% after saying a review of spending at one of its two Indonesian units found USD201 million of outlays with "no clear business purpose." The company is currently at the center of an ownership dispute between its founders. 

Adding to losses, TUI Travel dropped 1.05% after saying it plans to buy 60 Boeing 737 MAX aircraft valued at USD6.1 billion and will take options for another 90 planes as the travel company renews its fleet with airliners that are less costly to operate. 

In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.50% loss, S&P 500 futures signaled a 0.50% drop, while the Nasdaq 100 futures indicated a 0.53% decline. 

Later in the day, the U.S. was to release revised data on consumer sentiment from the University of Michigan, as well as data on personal income and expenditure and a report on manufacturing activity in Chicago.

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Forex - EUR/USD pushes lower on euro zone worries

The euro pushed lower against the U.S. dollar on Friday, as the release of disappointing euro zone data sparked fresh concerns over the outlook for growth in the single currency bloc. 

EUR/USD hit 1.2969 during European afternoon trade, the session low; the pair subsequently consolidated at 1.3006, shedding 0.31%. 

The pair was likely to find support at 1.2934, Thursday's low and resistance at 1.3116, the high of April 29. 

The euro came under pressure after official data showed that the unemployment rate in the euro zone rose to a new record high of 12.2% in April, from 12.1% the previous month, in line with expectations. 

Separately, a preliminary report showed that the bloc's consumer price index rose to an annualized rate of 1.4% this month, from 1.2% in April, as anticipated. 

The data came after Destatits said that German retail sales fell 0.4% in April, disappointing expectations for a 0.2% rise, after a 0.1% decline the previous month. 

Meanwhile, investors were eyeing U.S. economic reports later in the day, after downbeat data on Thursday dampened expectations for the Federal Reserve to scale down its stimulus program in the near future. 

The euro was also lower against the pound with EUR/GBP declining 0.32%, to hit 0.8536. 

Earlier Friday, the Bank of England said that net lending to individuals rose by GBP1.4 billion in April, beating expectations for a GBP0.9 billion increase, after a GBP1.1 billion rise the previous month. 

Later in the day, the U.S. was to release revised data on consumer sentiment from the University of Michigan, as well as data on personal income and expenditure and a report on manufacturing activity in Chicago.

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Forex - GBP/USD holds steady in cautious trade

The pound held steady against the U.S. dollar on Friday, as markets awaited the release of U.S. economic reports later in the day, while fresh concerns over the financial situation in the euro zone weighed on market sentiment. 

GBP/USD hit 1.5186 during European afternoon trade, the session low; the pair subsequently consolidated at 1.5223, easing 0.06%. 

Cable was likely to find support at 1.5110, Thursday's low and resistance at 1.5322, the high of May 16. 

Sentiment broadly weakened after official data showed that the unemployment rate in the euro zone rose to a new record high of 12.2% in April, from 12.1% the previous month, in line with expectations. 

The report came after Destatits said that German retail sales fell 0.4% in April, disappointing expectations for a 0.2% rise, after a 0.1% decline the previous month. 

In the U.K., the Bank of England said that net lending to individuals rose by GBP1.4 billion in April, beating expectations for a GBP0.9 billion increase, after a GBP1.1 billion rise the previous month. 

Meanwhile, investors were eyeing U.S. economic reports later in the day, after downbeat data on Thursday dampened expectations for the Federal Reserve to scale down its stimulus program in the near future. 

The pound was higher against the euro with EUR/GBP retreating 0.34%, to hit 0.8535. 

Later in the day, the U.S. was to release revised data on consumer sentiment from the University of Michigan, as well as data on personal income and expenditure and a report on manufacturing activity in Chicago.

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US Pending Home Sales Disappoint with +0.3% – EUR/USD Extends Gains

US pending home sales rose by only 0.3% in April 2013. They were expected to rise by a steady 1.3% after last month’s 1.5% rise. Year on year, there is a 10.3% rise, contrary to 12.8% that was expected. There was no revision to the data from the previous month.

EUR/USD made a convincing break just before the publication and left 1.30 behind. It already climbed to the next resistance line at 1.3050 before retreating a bit. The pair is now making a second attempt to break above 1.3050. USD/JPY was trading around 101.20, after a very rocky day. It is now 30 pips lower, falling to 100.90.

The US housing sector has led the recovery so far. The big rise in new home sales was certainly encouraging, and so was the ongoing rise in prices. However, not all the signs were positive all the time. There have been bumps in the road.

Earlier, the US reported mediocre data: a downwards revision of GDP and a higher than expected jobless claims number. The data wasn’t terrible, but not shining – not “taper material”.

Here is a live chart of EUR/USD:

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Forex - USD/JPY edges higher but gains limited

The U.S. dollar edged higher against the yen on Friday, but gains were limited as the previous day's weak U.S. data lessened expectations for the Federal Reserve to unwind its stimulus program in the near future. 

USD/JPY hit 101.28 during early European trade, the session high; the pair subsequently consolidated at 100.85, adding 0.12%. 

The pair was likely to find support at 98.65, the low of May 9 and resistance at 102.52, the high of May 28. 

On Thursday, the Department of Labor said the number of people who filed for unemployment assistance rose to a seasonally adjusted 354,000 last week, compared to expectations for a decline to 340,000.

Meanwhile, the Commerce Department said U.S. first quarter gross domestic product was revised down to 2.4% from a preliminary reading of 2.5%. Analysts had expected an unchanged reading. 

Separately, the National Association of Realtors said that its pending home sales index rose 0.3% to hit the highest level since April 2010 last month, but fell short of expectations for a 1.1% increase. 

In Japan, preliminary data showed that industrial production in Japan rose 1.7% in April, beating expectations for a 0.6% rise, after a 0.9% increase the previous month. 

A separate report showed that the core consumer price index in Tokyo rose 0.1% in May, confounding expectations for a 0.2% decline, after a 0.3% fall the previous month. 

Official data showed however that household spending in Japan rose less-than-expected last month, advancing 1.5%, after a 5.2% increase in March. Analysts had expected household spending to rise 3.1% in April. 

The yen was fractionally lower against the euro with EUR/JPY edging up 0.08%, to hit 131.52. 

Later in the day, the U.S. was to release revised data on consumer sentiment from the University of Michigan, as well as data on personal income and expenditure and a report on manufacturing activity in Chicago.

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Forex Trading Signal for 30 May 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 :

 (1) BUY

E/P: 1.29219

T/P: 1.29500

S/L: 1.28900

GBP/USD

UP Trend:

(1) BUY

E/P: 1.50983

T/P: 1.51300

S/L: 1.50500

NOTE: The above posted Signals are delayed 2 - 4 hours after it has been  generated.
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Forex Trading Signal for 31st May 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 :

 (1) BUY

E/P: 1.30181

T/P: 1.30500

S/L: 1.29700

(2) SELL

E/P: 1.30419

T/P: 1.30100

S/L: 1.30800

GBP/USD

UP Trend:

(1) BUY

E/P: 1.51965

T/P: 1.52300

S/L: 1.51500

(2) BUY

E/P: 1.52291

T/P: 1.52400

S/L: 1.51500

NOTE: The above posted Signals are delayed 2 - 4 hours after it has been  generated.
Daily forex signals are sent ontime to only our subcribers.

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Forex - EUR/USD steady, focus on upcoming data

The euro was steady against the U.S. dollar on Friday, trading near three-week highs despite disappointing German data, as markets eyed the release of additional economic reports later in the day.

EUR/USD hit 1.3032 during late Asian trade, the session low; the pair subsequently consolidated at 1.3040, easing 0.05%. 

The pair was likely to find support at 1.2934, Thursday's low and resistance at 1.3159, the high of May 3. 

Official data earlier showed that German retail sales fell 0.4% in April, disappointing expectations for a 0.2% rise, after a 0.1% decline the previous month. 

Meanwhile, the greenback remained supported after downbeat U.S. data dampened expectations for the Federal Reserve to scale down its stimulus program in the near future. 

On Thursday, the Department of Labor said the number of people who filed for unemployment assistance rose to a seasonally adjusted 354,000 last week, compared to expectations for a decline to 340,000.

Meanwhile, the Commerce Department said U.S. first quarter gross domestic product was revised down to 2.4% from a preliminary reading of 2.5%. Analysts had expected an unchanged reading. 

A separate report by the National Association of Realtors said that its pending home sales index rose 0.3% to hit the highest level since April 2010 last month, but fell short of expectations for a 1.1% increase. 

The euro was also steady against the pound with EUR/GBP inching 0.03% higher, to hit 0.8566. 

Later in the day, the euro zone was to publish preliminary data on consumer price inflation as well as data on the unemployment rate.

The U.S. was to release revised data on consumer sentiment from the University of Michigan, as well as data on personal income and expenditure and a report on manufacturing activity in Chicago.

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European stocks mixed to higher, eyes on U.S. data; Dax down 0.07%

European stocks were mixed to higher on Thursday, although expectations for the Federal Reserve to scale back its bond-buying program continued to weigh. 

During European morning trade, the EURO STOXX 50 edged up 0.09%, France’s CAC 40 rose 0.26%, while Germany’s DAX 30 eased 0.07%. 

Investors were looking ahead to the weekly U.S. report on jobless claims later in the global day amid ongoing speculation over whether the Federal Reserve is moving closer to scaling back its USD85 billion-a-month asset purchase program. 

Markets were also jittery amid speculation on whether the European Central Bank will implement negative interest rates on deposits following recent comments by senior bank officials. 

Financial stocks were broadly higher, as French lenders Societe Generale and BNP Paribas advanced 0.68% and 0.91%, while Germany's Deutsche Bank added 0.34%. 

Peripheral lenders added to gains, with Spanish banks BBVA and Banco Santander edging up 0.14% and 0.18% respectively, while Italy's Intesa Sanpaolo and Unicredit climbed 0.84% and 0.93%. 

On the downside, Aeroports de Paris slid 0.30% after French Finance Minister Pierre Moscovici said the government plans to sell as many as 10 million shares in the company. 

Elsewhere, Fiat edged down 0.29% amid reports the Italian auto maker is in financing talks with a pool of banks to buy the 41.5% Chrysler stake that is held by the United Auto Workers’ retiree health-care trust and to refinance the two automakers’ debt. 

In London, commodity-heavy FTSE 100 added 0.25%, supported by gains in the mining sector. 

BHP Billiton and Rio Tinto saw shares rally 0.78% and 1.40% respectively, while Anglo American jumped 1.26% and Polymetal surged 2.74%. 

Financial stocks were also on the upside, as HSBC Holdings climbed 0.45% and Barclays gained 0.59%, while the Royal Bank of Scotland and Lloyds Banking rallied 1.09% and 1.24%. 

In addition, Glaxo rose 0.29% after the U.K. drugmaker won approval from the Food and Drug Administration for its Tafinlar and Mekinist drugs for patients with melanoma that has spread or can't be surgically removed. 

In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.07% loss, S&P 500 futures signaled a 0.08% fall, while the Nasdaq 100 futures indicated a 0.21% decline. 

Later in the day, the U.S. was to release data on pending home sales.

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German CPI accelerates to 1.5% in May

Consumer price inflation in Germany accelerated more-than-expected in May, official preliminary data showed on Wednesday.

In a report, the German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 1.5% in May, above expectations for a 1.3% increase.

Consumer prices rose by 1.2% in April.

Month-over-month, German consumer prices rose 0.4% in May, compared to forecasts for a 0.2% gain, after falling by 0.5% in the preceding month.

Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD adding 0.73% to trade at 1.2948.

Meanwhile, European stock markets held on to sharp losses. Germany's DAX tumbled 1.6%, the EURO STOXX 50 dropped 1.4%, France’s CAC 40 retreated 1.5%, while London’s FTSE 100 tumbled 1.6%. 

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U.S stocks end higher on surging confidence data; Dow gains 0.69%

U.S. stocks shot up on Tuesday after industry data revealed the U.S. consumer confidence rose to a level not seen since February of 2008. 

Rising home prices also sent stocks soaring 

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.69%, the S&P 500 index ended up 0.63%, while the Nasdaq Composite index rose 0.86%. 

The Conference Board said its index of U.S. consumer confidence rose to 76.2 in May, a five-year high, from 69.0 in April, surging past expectations for a reading of 71.0. 

"Consumers’ assessment of current business and labor-market conditions was more positive and they were considerably more upbeat about future economic and job prospects," Lynn Franco, director of economic indicators at the Conference Board, said in a statement. 

Fiscal uncertainties in the U.S. may have already taken their toll on the consumer attitudes and sentiment may be on the mend, Franco added. 

Elsewhere, the S&P/Case-Shiller U.S. home price index rose 10.9% in March from a year earlier, above expectations for 10.2% and the biggest increase since April 2006, which further bolstered stock prices. 

Leading Dow Jones Industrial Average performers included Microsoft, up 2.25%, UnitedHealth Group, up 2.11%, and Walt Disney, up 1.86%. 

The Dow Jones Industrial Average's worst performers included AT&T, down 1.52%, Procter & Gamble, down 1.21%, and Verizon Communications, down 1.09%. 

European indices, meanwhile, finished higher. 

After the close of European trade, the EURO STOXX 50 rose 1.46%, France's CAC 40 rose 1.39%, while Germany's DAX 30 finished up 1.16%. Meanwhile, in the U.K. the FTSE 100 finished up 1.62%.

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Forex Trading Signal for 29 May 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 :

 (1) SELL

E/P: 1.28802

T/P: 1.28500

S/L: 1.29200

(2) SELL

E/P: 1.28455

T/P: 1.28100

S/L: 1.28800

GBP/USD

Down Trend:

(1) Sell

E/P: 1.50621

T/P: 1.50100

S/L: 1.52000

(2) SELL

E/P: 1.50224

T/P: 1.50000

S/L: 1.50500

NOTE: The above posted Signals are delayed 2 - 4 hours after it has been  generated.
Daily forex signals are sent ontime to only our subcribers.

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EUR/USD May 27 – Steady after Solid US, German Numbers Wrap Up Week

continues where it ended last week, trading in the mid-1.29 range. The week ended on a high note, as both US and German numbers beat expectations. GfK German Consumer Climate posted a multi-year high, and German Ifo Business Climate easily beat the estimate. In the US , Core Durable Goods Orders bounced back and recorded a strong gain. Monday will be marked by thin volume, as the US markets are closed for a holiday, and there are no releases out of the Eurozone.

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

EUR/USD Technical

• Asian session: Euro/dollar was steady, as the pair dropped to a low of 1.2915, and consolidated at 1.2938. There is no change in the European session.

Current range: 1.2880 – 1.2960.

Further levels in both directions: 

• Below: 1.2890, 1.2840, 1.2800, 1.2750, 1.27, 1.2624 and 1.2587.
• Above: 1.2960, 1.30, 1.3050, 1.31, 1.3160 and 1.32, 1.3255, and 1.3290.
• 1.2880 continues to provide support.
• 1.30 is at strong resistance line.

Euro starts off week quietly in thin holiday trading – click on the graph to enlarge.

EUR/USD Fundamentals

• There are no releases on Monday from the Eurozone or the US.

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

EUR/USD Sentiment

• German numbers rebound: After some lukewarm PMI data out of Germany earlier in the week, there was positive news out of the Eurozone’s number one economy on Friday. GfK German Consumer Climate posted its highest level in almost six years, and IFO Business Climate surprised with a better than expected figure. German GDP bounced back from a decline in Q4, posting a modest 0.1% gain. We’ll get a better picture of the direction of the German economy this week, with the releases of German CPI, Unemployment Change and Retail Sales.
• More positive news from the US: The markets are used to ups and downs in US numbers, and we continue to see alternating weeks in economic data: after a weak Philly number and a jump in jobless claims, last week brought better than expected new home sales, a record low in continuing claims and a nice rise in durable goods orders on Friday. What is the bottom line? The Fed must be wondering the same thing, and has maintained course with the current round of QE.
• Bernanke sends euro on wild ride: US Federal Reserve Chair Bernanke triggered a big drama: He first stated that tightening monetary policy could hurt the economic recovery. The euro reacted by rising sharply, testing the 1.30 level, but this proved to be a short-lived move. Bernanke later said that if US economic data improved, a decision to scale back QE could be taken in the “next few meetings”. This brought the euro back down in a hurry, Hints from Fed officials about whether QE will be maintained will continue to rock the markets.
• Fed split over QE: Overshadowed by Ben Bernanke’s testimony in Congress was the release of the minutes of the most recent FOMC policy meeting. The minutes indicate that the US recovery will have to deepen before the Fed will consider exiting from QE. The policy members were split, as some proposed tapering QE next month, while others were in favor of increasing QE, given the weak inflation readings we are seeing. It should be noted that the minutes relate to a meeting which took place at the beginning of May, in contrast to the fresh testimony of Bernanke on Wednesday.
• Japanese stock market crash: the reaction to the thought of QE tapering was a drop in US stocks, which was followed by a crash in Japan, of 7.32%. This put the Nikkei index in the spotlight. Moves in Japan will likely have an indirect impact on the euro in the weeks to come.
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