Dealers see correction risks euros. Of a single European currency in the Asian session once again managed to rise above forty-fifth shapes, but growth was again short-lived, and, while the couple still buy near $ 1.4480 euro pressure dollar bears is starting to grow. Dealers warned that the $ 1.4475 euro dollar posted the foot, which would pave the way for correction to $ 1.4460 and $ 1.4440 euro dollar. Ofer remain near $ 1.4500 euro dollar, larger in area $ 1.4520 with stops behind $ 1.4530 EUR the dollar.
Pound/dollar. Reviews dealers
In the run-up to the publication of data on UK pound PMI, the dollar was under pressure and corrected to previous lows at $ 1.6334 a pound to the dollar. After the release of a report the pair had been kept in the field of 1.6323 and tests support at $ 1.6320 pound dollar. According to dealers, the feet are at the level $ 1.6300/295 pound dollar, increasing their number is on breakthrough $ 1.6290 a pound to the dollar. Strong interest can occur in the area of $ 1.6270 a pound to the dollar. Immediate resistance is still kept at $ 1.6380, then at $ 1.6400 pound dollar. Stops are located above this level. Current rate
1.6323 pound dollar. Plug for euroDespite the serious correction below key support levels of 1.4000 movement to a minimum level of 1.3968 euro dollar set by 23 May, in the long term, the euro dollar continues to move within the lower range of villas Andrews. At the end of may, the couple made a desperate attempt to penetrate the bottom border of the forks, and finally break the bulls. Unfortunately, the attempt was not successful. Now the euro dollar is traded in 1.4470, whereas the lower bound of villas runs at 1.4229 EUR the dollar. Important resistance observed in the euro dollar 1.4588-1.4600, his breakthrough would pave the way for the euro dollar 1.4720.
So, yesterday evening a couple of euro-dollar showed a new maximum elevation 1.4457 euro dollar, then went down and after midnight showed at least 1.4308 euro dollar, but today the pair again climbed above 1.44 euro dollar. Analytical tapes say that yesterday's correction was provoked by the Agency Moody 's, which downgraded in 22.48 Icn rating Greece directly on three levels, with B1 to Caa1 with negative forecast of rating. However, as you can see, negative on debt crisis again has a very limited impact on markets, Euro night started out without a visible cause. Today Ribbon explain rising euro analysis by Angela Merkel, in which she stated that Germany remains a "supporter" of the euro and current problems of Europe are not related to the euro, and with a debt. After Merkel has in Singapore between 5.30 and 6.30 Iic, Iic, and virtually no response to her words. Euro just buy from minima as before.
Another motive, explaining the dollar weakness, which can be tracked in analytical tapes associated with a negative on the emerging American statistics. Yesterday's data from ADP's employment in the United States for the month of may came out at the level of +38th. against the forecast +175 thousand, and the ISM purchasing managers index in United States industry for may dropped immediately with 60.4 to 53.5 against forecast 57.1. It should be remembered that a month ago is similar to the ISM index sank in the area of services for April, with 57.3 to 52.8 (values below 50 for the purchasing managers index refers to the downturn in the sector). The ISM Services figures for may are expected on Friday, at the same time, employment data are published and Durable goods orders. While it is expected that the ISM services may grow to 54.0 and Payrolls will show 185th. new jobs. However, it should be recalled that in April the Canadian Ivey Purchasing Managers Index slumped immediately with 73.2 to 57.7 and Canada-the nearest neighbor of America, and her well-being as can be judged on the State of the economy of the United States. Until Friday the data have not yet reached it is too early to say that recovery in the United States has slowed dramatically, but the trend is already more than noticeable, and it could not ignore and representatives of the Fed.
Deputy Head of the FED'S United States Janet Yellen, today announced that interest rates should be maintained at a low level, but stressed that the FED was aware of the risks from policy of easy money and therefore ready to go, if necessary, on appropriate measures. She said that the prospect of high unemployment and restrained inflation justified the current record low and almost zero rate. But it warned that its continuation at current levels for a long time can ultimately lead to the building of "leverage" and the level of risk the pre-crisis level.
Comment by Janet Yellen was more than moderately peaceable, and although she was forced to conclude that the tightening of monetary policy in the current data from the United States out of the question, still in rhetoric, an attempt is made to point to the need for the FED will sooner or later begin to raise rates. It is obvious that the FED until recently will attempt to create the appearance of more or less emergency readiness to begin tightening monetary policy so as to contain inflationary expectations. However, analysts have suggested that the FED does not avoid rollover dates sverhmagkoj policy. Thus, Chief Economist for JPMorgan Chase Michael Feroli said today that there was a "very high probability" that FED on the outcome of the meeting of 21-22 June, will continue to reinvest the payment of mortgage portfolio in Treasury bonds, and the hikes it waits until the year 2013. However, if you speak directly, it is unlikely that the FED avoid a third round of quantitative easing, which is already at the end of this year or early next. As long as you can see that the sharp decline in United States Treasury placements in the 2-ohm quarter (and therefore amounts to stimulate the economy) unexpectedly quickly led to a deterioration of the data from the United States. It is understandable that the Treasury was forced to go for a temporary period savings due to problems with the harmonization of the new limit State and mezpartijnym crisis at the new budget. However, it is surprising how quickly the United States began to fall through. With this momentum we will see even more worst GDP growth in the 2-ohm quarter than the 1.8% per annum for the 1-St quarter. Therefore, as soon as the limit State will be upgraded, the Treasury will have to start with a new strength to inflate the budget deficit to keep the economy from recession, the FED will be forced to further monetize the deficit over time, because without the support of the necessary volumes of post already FED it is simply impossible.
2:45 New Zealand building permits,
3:30 Australia Index of business activity in the services sector from AIG may
12:30 Eurozone Index of business activity in the services sector,
12:30 United Kingdom Index of business activity in the services sector,
16:30 United States to change the number of persons employed in non-agricultural sector,
16:30 United States unemployment may
16:30 United States the average wage per hour,
18:00 United States Index of business activity in the non-industrial sector,
20:30 United States address by Member of the Federal open markets Committee d. Tarullo
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