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
- Gennady Golovkin Next Fight Options: Canelo Alvarez, Miguel Cotto Or Julio Cesar Chavez Jr.
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
Join the Conversation
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery
- Boy Stoned To Death For Alleged Rape, Victim Receives Dowry From Militants
- iOS 8 Jailbreak Release Date is Doomed as Team Evad3rs Opts Out, Pangu Hits Snag – Report
- Google Nexus 6 vs. iPhone 5S: 4 Important Things to Consider Before Switching to Android Lollipop
- Swedish Military Spots ‘Russian Submarine’ Off Stockholm Coast, An Alarming ‘Security Game Changer’
- Russia is Creating Underwater Combat Robots to Protect its Arctic Territories
- Canada Raises National Terror Alert Level after Suspected Jihadist Runs Over Soldier