EU Morning Report - Durable goods orders to move the market

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By NikolasX | January 28, 2013 8:56 PM EST

Easy Forex

 

Durable goods orders to move the market

 

The euro (EUR) has maintained its advance against the US dollar (USD) staying above1.34 as markets expect a move away from the debt crisis in Europe despite the continuing uncertainty over Cyprus. Looking ahead, Durable goods orders and Home Sales from the US are set to shake the stage amid talks of a fragile recovery. If that happens WTI (OIL) should move higher as industrial production picks up.

The UK100 (FTS), which tracks the top 100 UK corporations, has been moving higher amid positive economic data touching a four and a half year high at 6250. The UK economy had moved into positive territory in the 3rd quarter of 2012.

WTI Crude (OIL), currently at 96.06, looks to break above its pennant formation as world economic growth pushes demand for energy higher.

The US dollar (USD) broke higher versus the Canadian dollar (CAD) moving above 1.0095 in early trading as the Canadian dollar moves to a 5-month low.

. Pivot Preference1 Sentiment2
. EURUSD 1.3395 LONG @ 1.3395 29% of deals buy EUR
. USDJPY 90.55 LONG @ 90.55 49% of deals buy USD
. GBPUSD 1.5790 SHORT @ 1.5790 64% of deals buy GBP
. AUDUSD 1.0435 SHORT @ 1.0435 38% of deals buy AUD
. GOLD 1672.00 SHORT @ 1672.00 79% of deals buy GOLD
. OIL 94.95 LONG @ 94.95 37% of deals buy OIL
1 data generated by Trading Central, 2 data obtained from easy-forex Inside Viewer
.
Currency Time (GMT) Event Forecast
. EUR 09:00 M3 Money Supply 3.9%
. USD 13:30 Core Durable Goods Orders 0.8%
. USD 15:00 Pending Home Sales 0.5%
Movers Shakers
EURCHF
The euro (EUR) has been gaining significant ground versus the Swiss franc (CHF) following Swiss ministers’ stance that Switzerland should aim at a weaker franc. The franc has continued its decline since the beginning of January, currently moving at 1.248 against the single currency.

 

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