Euro against major currencies...
EUR/USD 0/- We will prefer to sell rallies to 1.2370 for push back to 1.2280. Stop are above 1.2410.
EUR/JPY EUR vs JPY is natural, We See support at 110.10 holding. Ranging 110.0-111.30. 2010-06-27 20:53:52
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The removal of uncertainty regarding Congress’s financial reform bill may reinforce the hiring rebound. A deal reached by members of a House and Senate conference last week diluted provisions from the tougher USA Senate bill, limiting rather than prohibiting the ability of federally insured banks to trade derivatives and invest in hedge funds or private-equity funds.
USA Firms are adding jobs for the first time in two years, rebuilding businesses cut during the financial crisis and offering guaranteed payouts to lure top US bankers. During February through May, In New York, 6800 financial-industry positions were added. This is the largest 3-month increase since 2008, according to the New York State Department of Labor.
Advanced G-20 Countries economies will aim to halve deficits by 2013 and start to stabilize their debt-to-output ratios by 2016, the group said in a statement yesterday after a meeting in Toronto Canada. G-20 Leaders said nations can move at their own pace and also pledged to fulfill existing stimulus plans.
G-20 leaders responded to the European debt crisis with deficit-reduction targets and agreed to pursue higher capital requirements for banks once economic recoveries take hold.
Today morning European session start with Sweden’s household lending and trade data followed by the series of German states reporting CPI data for June 2010.
Major Economic and Forex Market Headlines - Previous Session
- China May 2010 Leading Index out at 103.44 vs. 104.36 prior
- United Kingdom June 2010 Home-track Housing Survey out at +0.1% m/m, 2.1% y/y vs. 0.2%/2.0% prior respective.
- Japan May 2010 Retail Trade out at +2.8% y/y vs. +4.8% expected and 4.9% prior
- Japan May 2010 Large Retailers’ Sales out at -4.0% vs. -2.9% expected and 0.5% prior
- NZ June NBNZ Business Confidence out at 40.2 vs. 48.2 prior
- USA Q1 2010 Final GDP out at 2.7% vs. 3.0% expected and 3.0% previously
- vs. 3.5% expected and 3.5% previously
- USA June Michigan Confidence out at 76.0 vs. 75.5 expected and 75.5 prior
The G-20 has to bridge a gap between leaders such as German Chancellor Angela Merkel who favor budget cuts and USA President Barack Obama who want to focus on growth.
G-20 leaders are poised to endorse targets to tackle deficits while giving nations flexibility on when to start balancing their books, according to officials with knowledge of drafts of the final statement.
G-20 Leaders will agree today on the need to cut deficits, while urging countries with the most precarious fiscal positions to accelerate their plans, according to the officials who declined to be identified by name because a final version of the statement hasn’t been completed.
“I’m not optimistic about the exports this year,” said Yu Jianhua, a Ministry of Commerce director general, after a press conference during the Group of 20 meetings in Toronto. “It’s essential for exporters to cut cost and keep their share in the world trade market.”
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Major Currencies Daily Heat Table
| Daily Currencies Heat Table Update: Daily GMT +5:00 | |||||||||||
| EUR | USD | JPY | GBP | AUD | CHF | CAD | NZD | NOK | PKR | SEK | PLN |
| + | - | - | + | + | - | - | + | + | |||
Daily Gold, Oil and Silver Futures...
Commodities | Daily Stance | Comments |
| Gold | 0/+ | Gold is leading again. Buy at the break of 1244.450 targeting 1251. Sell below 1290. |
| Silver | 0/+ | Buy on dips towards 18.66 targeting 18.76. |
| Oil | 0/- | Sell at the break of 76.03 targeting 75.65. |
Forex Overview
Currencies Overview | |
|
Monetary Policy Focus
Currency Converter
US Dollar Index Chart
Forex Sentiment Indicator
Central Banks Interest Rates
| US | 0.25% |
| UK | 0.5% |
| EMU / EURO | 1% |
| Japan | 0.1% |
| Switzerland | 0.25% |
| Canada | 0.25% |
| Australia | 3% |
| New Zealand | 2.5% |
| Sweden | 0.25% |
G-20 Economy & Updates!
Jawwad Ahmad
Jawwad Ahmad is the Founder of MyForexTime.com. After trading the Stock and Forex markets for 6 year, He founded the MyForexTime.com in 2005. Jawwad Ahmad has been an active Forex trader for the last 10 years, specializing in the International Foreign Exchange Market. He also MBA and CS graduate in the University of AJK, in Pakistan, as a specializing in Information Technology, and financial self-taught. He has since been managing trading accounts privately, manages clients portfolio for the leading Retail FX brokers, also training new traders around the world. MyForexTime Twitter Updates
Pakistan Economic Indicators
| Annual | 2009/10 | ||
| Foreign Debt | $50.1bn | ||
| Per Cap Income | $1046 | ||
| GDP Growth | 2.0% | ||
| Average CPI | 20.77% | ||
| Monthly | July | ||
| Trade Balance | $-1.15 bln | ||
| Exports | $1.49 bln | ||
| Imports | $2.64 bln | ||
| Weekly August 18, 2009 | |||
| Reserves | $11.846 bln | ||
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