Forex Trading Market Review 12 ta 'Lulju 2012
Asia stock benchmarks fell Thursday, as hopes of fresh stimulus efforts from the U.S. diminished, and investors remained cautious ahead of key growth data from China on Friday on head of BOJ decision.
On the economic front, there are no major data releases domestically and, from Germany whole sale inventory data which is expect to keep pressure on Euro and from U.S Initial jobless claims is expect to support Dollar to gain.
The market is continuing its losing streak, as daily factors like the euro and Asian equities are still trading lower. The euro has declined to $1.2240, while all Asian equities are trading down by more than half a percent. Going ahead, the weakness is expected to continue as data releases from the euro-zone in the form of WPI and industrial production are expected to add pressure to the euro during the day.
Nonetheless, economic indicators from the U.S are also likely to show some weakness with unemployment numbers due later today.
Dollaru Ewro:
EURUSD (1.2243) the euro continues its decline, as markets have no reaction to the announcement of the funds for Spain at the end of July. With the German courts reviewing the constitutionality of the ESM and the funds a stop gap measure to help reduce Spain’s soaring borrowing costs the euro remained unaffected.
Il-Lira Ingliża l-Kbira
GBPUSD (1.5514) dipped with little eco data to support the GBP and overall negative sentiment, the market is at the whim of the USD, which is now trading at the 83.45 level on the DX.
Munita Asjatiku-Paċifiku
USDJPY (79.53) with little help from the FOMC minutes and the BoJ rate decision and statement due today, the pair remain in their tight range near the 79.50 range.
deheb
Deheb (1571.65) continues to weaken with little support for the euro and no support from the FOMC meetings, gold is slowly returning to its downward trend.
Grezza Żejt
Żejt mhux raffinat (85.85) EIA inventories showed a drop in stock by 4.3million barrels, above earlier projections, but this was offset somewhat by a drop in inputs and imports. With global growth shrinking and lower demand, oil is expected to meander its way back to the 80.00 level
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