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Webmoney Account Number:  Z235392748025


Once payment is made, kindly contact us here 
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EUR/USD breaks lower – lowest in 6 weeks – 4 reasons

EUR/USD finally broke out of range, and it is to the downside: the pair is now trading at 1.2822, falling below the previous lows of 1.2842.

The move came on top of no particular fresh news, but the euro certainly has reasons to fall. Here are 4 reasons and the next lines:

EUR/USD is at the lowest levels since the beginning of April. Support is found at 1.2805, which was the bottom of the wide 1.2805 – 1.3170 range.

Further support is at 1.2750, which is minor. A more serious line of support appears at 1.2624, which was the January 2012 low.

Update: Better than expected consumer confidence in the US sends EUR/USD  below this line, down to 1.2796, but recovers very quickly.

Reasons for the euro to fall:

1. Talk that ECB is checking negative rates: According to re-run of a report already seen in the markets, the ECB is checking with banks about the possibility of introducing a negative deposit rate. This weighed on the euro earlier, but didn’t push it to new lows. The break happened now.
2. German ECB member expressing worries about Germany: Asumussen warned that Germany could be the sick man of Europe once again, if it doesn’t make reforms.
3. Lower euro talk: VP of European Commission saying that the ECB should manage the euro lower. He said it yesterday, and it triggered a limited market response.
4. Weak GDP numbers in the euro-zone: Germany grew by only 0.1% and the euro-zone is already in the third quarter of a recession, with Q1 contraction standing at 0.2%, worse than expected.

Live chart of EUR/USD:

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U.S stocks rise for fourth week on sentiment data; Dow gains 0.80%

U.S. stocks rose on Friday, ending higher for a fourth consecutive week after a consumer sentiment barometer beat expectations.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.80%, the S&P 500 index ended up 0.95%, while the Nasdaq Composite index rose 0.97%.

The Thomson Reuters/University of Michigan's preliminary consumer sentiment index rose to 83.7 in May from 76.4 in April, surging past expectations for a rise to 78.0. 

The University of Michigan also said its inflation expectations for this month remained unchanged at 3.1%.

The news sent stocks wiping out losses stemming from comments from Federal Reserve officials, who signaled that stimulus programs won't stick around longer due to disappointing economic indicators.

Federal Reserve Bank of San Francisco President John Williams said Thursday that monetary authorities may begin to unwind stimulus programs this summer and possibly end such policies by year end.

Philadelphia Fed President Charles Plosser, a known inflation hawk, added separately that the Fed should consider scaling back the program next month.

The Fed is currently buying USD85 billion in assets from banks a month, a monetary stimulus tool known as quantitative easing that weakens the greenback and floods the economy with liquidity to spur recovery and job demand.

Stocks rise as a side effect to such policies

Leading Dow Jones Industrial Average performers included JPMorgan Chase, up 2.57%, Boeing, up 2.40%, and United Technologies, up 2.34%.

The Dow Jones Industrial Average's worst performers included Pfizer, down 0.96%, Wal-Mart, down 0.90%, and Merck, down 0.82%.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 0.40%, France's CAC 40 rose 0.56%, while Germany's DAX 30 finished up 0.34%. Meanwhile, in the U.K. the FTSE 100 finished up 0.53%.

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Forex - EUR/USD drops on surging U.S. consumer confidence data

The euro dropped against the dollar on Friday after a widely watched consumer sentiment barometer blew past expectations.

In U.S. trading on Friday, EUR/USD was down 0.40% at 1.2831, up from a session low of 1.2796 and off from a high of 1.2890.

The pair was likely to find support at 1.2796, the earlier low, and resistance at 1.3029, Tuesday's high.

The Thomson Reuters/University of Michigan's preliminary consumer sentiment index rose to 83.7 in May from 76.4 in April, surging past expectations for a rise to 78.0. 

The University of Michigan also said its inflation expectations for this month remained unchanged at 3.1%.

The numbers came a day after Federal Reserve Bank of San Francisco President John Williams  said that monetary authorities may begin to unwind stimulus programs this summer and possibly end such policies by year end.

Philadelphia Fed President Charles Plosser, a known inflation hawk, added separately that the Fed should consider scaling back the program next month.

Monetary stimulus tools, such as low interest rates, dovish language and the Fed's monthly USD85 billion asset-purchasing program, weaken the dollar to spur recovery.

Weak industrial output, inflation data and other economic indicators had many investors betting in recent sessions that the Fed may prolong dismantling stimulus programs, which pressured the dollar lower until Friday's data broke.

The euro, meanwhile, was up against the pound and down against the yen, with EUR/GBP trading up 0.15% at 0.8448, and EUR/JPY trading up 0.23% at 132.04.

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U.S. futures higher, eyes on data; Dow Jones up 0.30%

U.S. stock futures pointed to a steady open on Thursday, despite comments by a regional Federal Reserve chairman saying that the U.S. central bank may taper its asset buying program as soon as this summer, as markets eyed the release of U.S. data later in the day. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.30% rise, S&P 500 futures signaled a 0.33% increase, while the Nasdaq 100 futures indicated a 0.19% gain.

On Thursday, John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin reducing its monetary easing this summer and end bond buying late this year. 

Fresh concerns over the outlook for growth in the U.S. were sparked by a recent string of disappointing economic data. 

The Federal Reserve Bank of Philadelphia said on Thursday that its manufacturing index fell to minus 5.2 in May from April’s reading of 1.3, while the Department of Labor said the number of people who filed for unemployment assistance in the U.S. rose to a seasonally adjusted 360,000 last week, compared to expectations for an increase to 330,000. 

Cisco Systems was expected to remain in focus for the second consecutive session, as the networking equipment company surged over 12% on Thursday after reporting fiscal third-quarter profit that topped estimates. Shares slipped 0.24% in pre-market trade. 

Also in the tech sector, Dell reported a steep drop in quarterly profit after the closing bell as personal computer sales continued to shrink, sending shares down 0.22% in extended trading. 

Applied Materials was also lower in after-hour trade, retreating 0.68%, as the largest producer of chipmaking equipment forecast fiscal third-quarter profit and sales that may fall short of some analysts’ estimates. 

Among retailers, J.C. Penney was expected to be active after reported, after hours, that operating margins plunged in the first quarter while total sales and same-store sales registered double-digit declines. 

Shares in the company plummeted 3.03% in early trading. 

Other stocks in focus included Donaldson, scheduled to report first-quarter earnings later in the day. 

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 gained 0.35%, France’s CAC 40 advanced 0.42%, Germany's DAX added 0.22%, while Britain's FTSE 100 edged up 0.15%. 

During the Asian trading session, Japan’s Nikkei 225 Index retreated 0.39%, while Hong Kong's Hang Seng Index remained closed for a national holiday. 

Later in the day, the U.S. was to release preliminary data from the University of Michigan on consumer sentiment and inflation expectations.

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European stocks turn higher on ECB easing hopes; Dax up 0.19%

European stocks turned broadly higher on Friday, as a recent string of disappointing data out of the euro zone sparked expectations for an additional rate cut by the European Central Bank. 

During European afternoon trade, the EURO STOXX 50 edged up 0.28%, France’s CAC 40 climbed 0.41%, while Germany’s DAX 30 added 0.19%. 

Official data confirmed on Thursday that consumer price inflation in the euro zone fell 0.1% in April from the previous month, with the annual rate of inflation slowing to 1.2% from 1.7% in March.

A separate report showed that the euro zone posted a record trade surplus in March as imports fell 1% from February, while exports grew 2.8%.

On Wednesday, data showed that the euro zone economy contracted by 0.2% in the three months to March bringing the annualized rate of decline to 0.9%. 

Meanwhile, markets were jittery after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin reducing its monetary easing this summer and end bond buying late this year. 

Financial stocks turned broadly higher, as French lenders BNP Paribas and Societe Generale jumped 1.81% and 1.72%, while Germany's Deutsche Bank climbed 0.49%. 

Peripheral lenders added to gains, with Spanish bank Banco Santander adding 0.37%, while Italy's Intesa Sanpaolo and Unicredit rallied 0.68% and 1.17% respectively. 

Elsewhere, FLSmidth & Co. A/S plummeted 8.58%, extending earlier losses the maker of cement production lines reported profit and sales that missed analysts’ estimates for the first quarter. 

In London, FTSE 100 rose 0.34%, as U.K. lenders tracked their European counterparts higher. 

Shares in HSBC Holdings gained 0.49% and Barclays climbed 0.66%, while Lloyds Banking and the Royal Bank of Scotland rallied 1.76% and 1.98%. 

Mining stocks were also broadly higher, as Rio Tinto and BHP Billiton advanced 0.89% and 1.40% respectively, while Anglo American surged 1.79%. 

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.25% increase, S&P 500 futures signaled a 0.25% rise, while the Nasdaq 100 futures indicated a 0.12% gain. 

Later in the day, the U.S. was to release preliminary data from the University of Michigan on consumer sentiment and inflation expectations.

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Forex - USD/JPY edges up to fresh 4-1/2 year highs

The U.S. dollar edged up against the yen on Friday, hovering near four-and-a-half year highs as speculation over an earlier end than expected to the Federal Reserve's easing program sent the greenback broadly higher. 

USD/JPY hit 102.58 during early European trade, a four-and-a-half year high; the pair subsequently consolidated at -102.49, adding 0.22%. 

The pair was likely to find support at 101.26, the low of May 14 and resistance at 102.58, the session high. 

The greenback found support after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin reducing its monetary easing this summer and end bond buying late this year. 

The dollar had come under pressure on Thursday, after a string of disappointing economic reports. 

The Federal Reserve Bank of Philadelphia said that its manufacturing index fell to minus 5.2 in May from April’s reading of 1.3. Analysts had expected the index to improve to a reading of 2.4 in May. 

The data came after the Department of Labor said number of people who filed for unemployment assistance in the U.S. rose by 32,000 to a seasonally adjusted 360,000 last week, compared to expectations for an increase of 2,000 to 330,000. 

The yen was lower against the euro with EUR/JPY edging up 0.13%, to hit 131.87. 

Later in the day, the U.S. was to release preliminary data from the University of Michigan on consumer sentiment and inflation expectations.

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Forex - EUR/USD near 6-week lows on Fed comments

FTS Forex Trading:- The euro edged down against the U.S. dollar on Friday, to trade near six-week lows after a regional Federal Reserve chairman said the U.S. central bank may taper its asset buying program as soon as this summer. 

EUR/USD hit 1.2851 during late Asian trade, the session low; the pair subsequently consolidated at 1.2858, slipping 0.17%. 

The pair was likely to find support at 1.2772, the low of April 1 and resistance at 1.2942, the high of May 15. 

The greenback strengthened broadly after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin reducing its monetary easing this summer and end bond buying late this year. 

Meanwhile, the euro remained under pressure after a string of weak economic reports fuelled speculation over an additional rate cut by the European Central Bank. 

On Wednesday, data showed that the euro zone economy contracted by 0.2% in the three months to March bringing the annualized rate of decline to 0.9%. 

The euro was steady against the pound with EUR/GBP inching up 0.06%, to hit 0.8441. 

Later in the day, the U.S. was to release preliminary data from the University of Michigan on consumer sentiment and inflation expectations.

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