The euro (EUR) is weakening against most of its major counterparts, as reports concerning the EU summit meetings start coming out. The eurozone heads of state, also meeting today, have agreed on a banking union and advanced integration, however there are new information of disagreement over a request from Germany to permit individual countries budgets to be turned down. Thus, a supervisory authority for banks appears very likely to be implemented within the next year. No discussion was made and decisions were not taken on the Spanish bailout plan. Apparently there is conformity among thEuropean leaders that Spain’s domestic issues should take precedence for now.
§ The Australian dollar (AUD) put a hold to its 2-week rally from 1.0150 to 1.0388 versus the US dollar (USD). This advancement was evident against most of its counterparts, following the release of the minutes from Reserve Bank of Australia (RBA) latest meeting, pointing out to interest rates cut.
§ US Tech (NDQ) plunged yesterday from 2770.88 to 2734.13 – a 1.32% drop, after Google released their earning report prematurely, missing analysts’ estimates. The index remains under pressure and it will be interesting to see whether the fall will continue.
|.||EURUSD||1.3105||SHORT @ 1.3105||37% of deals buy EUR|
|.||USDJPY||79.05||LONG @ 79.05||66% of deals buy USD|
|.||GBPUSD||1.6090||SHORT @ 1.6090||43% of deals buy GBP|
|.||AUDUSD||1.0415||SHORT @ 1.0415||46% of deals buy AUD|
|.||GOLD||1747||SHORT @ 1747||70% of deals buy GOLD|
|.||OIL||90.70||LONG @ 90.70||45% of deals buy OIL|
|.||GBP||08:30||Public Sector Net Borrowing in September||11.4 bil|
|.||CAD||12:30||Consumer Price Index (CPI) m/m in September||0.3%|
|.||USD||14:00||Existing home sales-units in September||4.75 mil|
The US dollar (USD) managed to rebound versus the Canadian dollar (CAD) overnight. The pair rose from 0.9765, a major support level, to 0.9860, a resistance area. As the overall trend, still appears to be bearish this appreciation could present market participants for a great risk/reward trade to enter a short position.
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