EU Morning Report - Unemployment key issue for Euro
By NikolasX | January 29, 2013 7:28 PM EST
The euro (EUR) has remained within a tight range around 1.344 against the US dollar (USD) expecting further news from Europe and looking ahead to Non-farm Payrolls by Friday. Recent reports indicate that the ongoing euro-crisis has cost dearly on employment. For the fifth month unemployment in the Eurozone has climbed reaching 11.9 percent. Should the issue not be resolved soon, it could undermine the recent optimism for the single currency. Today consumer confidence in the US is set to set the stage in EURUSD trading.
§ The US500 (SPI), which tracks the S&P 500 is moving steady on bull territory following positive earnings data from US corporations. Currently at 1497 it looks likely to move above the 1500 level and move even higher,
§ Gold (XAU), currently at 1662, continues to slide as investors turn to riskier assets. The precious metal which reached a peak of 1791 in September has been moving lower and lower.
§ The sterling (GBP) is looking to rebound against the US dollar (USD) moving to 1.5715 after finding support at 1.5675
Stay in tune throughout the day with foreign exchange bullets!
|.||EURUSD||1.3425||LONG @ 1.3425||30% of deals buy EUR|
|.||USDJPY||91.00||SHORT @ 91.00||35% of deals buy USD|
|.||GBPUSD||1.5750||SHORT @ 1.5750||65% of deals buy GBP|
|.||AUDUSD||1.0400||LONG @ 1.0400||66% of deals buy AUD|
|.||GOLD||1672||SHORT @ 1672||71% of deals buy GOLD|
|.||OIL||95.40||LONG @ 95.40||22% of deals buy OIL|
|.||USD||14:00||House Prices 20HPI y/y||5.5%|
|.||USD||15:00||CB Consumer Confidence||64.8|
|.||NZD||21:45||Building Consents m/m||-5.4%|
The Australian dollar (AUD) has seen volatile trading versus the Japanese yen (JPY) now trading at 94.73, following Prime Minister Abe’s move to seek a weaker yen to boost exports. It is interesting to notice the pairs’ direction as Japan is a major export market for Australia’s metals and natural resources.
Most Popular Slideshows
- Flight MH17 Attack: Russians Claim 'Putin A Terrorist,' Memorial at Dutch Embassy Overflows [PHOTOS]
- Typhoon Rammasun Claims 18 Lives in China, Incurs $4.32B Losses (PHOTOS)
- Ellen DeGeneres Caught Cheating with Mutual Friend Before Portia de Rossi’s Rehab – Reports [PHOTOS]
- Malaysia Airlines MH17: Vital Black Boxes Finally Land in Hands of Malaysian Authorities, Rebels Announce Ceasefire (PHOTOS/VIDEOS)
Join the Conversation
- Samsung Galaxy Note 4 Apps Leak Online, Five Fresh Features to Expect from the Android Smartphone
- Moto 360 Price Speculations, Key Features, Strategic Release Date, Design: A Watch That is More Than Just Time
- Windows Phone 8.1 Update Rollout: 20 Nokia Lumia Phones Eligible and 13 New Features to be Added
- Three New Moto G Successors Spotted in FCC Document Dubbed Moto G2, Moto M and More --Reports
- HTC Google Nexus 8 Release Date Imminent with New Nexus 7 Deals, Two New Tablets Soon
- iPad Air 2 Release Date Will Skip IGZO Panel; To Rollout with Super-Slim iPad Mini Air
- Upcoming iPad Mini 3 Could be 30% Thinner and Likely be Called iPad Mini Air; Apple Q3 Results Show 9% Decrease in iPad Sales