The euro (EUR) is rising across the board against most of its major counterparts, as the eurogroup meeting reached an agreement on Greece. The eurozone finance ministers consented after 13 hours of negotiations to lower the interest rates on bilateral loans to the debt-ridden nation, while interest payments due to the European Financial Stability Fund (EFSF) will be postponed by 10 years. Additionally, the maturity of the loans increased to 30 from 15 years.
The Australian dollar (AUD) is strengthening versus most of its counterparts. The same is true for the British pound (GBP) ahead of the 3rd quarter Gross Domestic Product (GDP) release.
The euro (EUR) recorded a monthly high at 1.3008 versus the US dollar (USD) overnight following the news that a deal on Greece has been achieved.
The Canadian dollar (CAD) has pierced through below 0.9920 against the US dollar (USD) early in the EU session. This is a minor breakout and a break-and-hold below 0.9910 is needed for lower lows to be recorded.
GER 30 (DAX) opened 25 points higher this morning on the back of the Eurogroup agreement. The index now lies above 7335, a 3-week high.
Stay in tune throughout the day with foreign exchange bullets!
OUTLOOK◘
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Pivot
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Preference1
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Sentiment2
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EURUSD
|
1.2940
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LONG @ 1.2950
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§ 36% of deals buy EUR
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USDJPY
|
81.90
|
LONG @ 81.90
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§ 47% of deals buy USD
| |
GBPUSD
|
1.6000
|
LONG @ 1.6010
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§ 37% of deals buy GBP
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AUDUSD
|
1.0454
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LONG @ 1.0454
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§ 33% of deals buy AUD
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GOLD
|
1735
|
LONG @ 1735
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§ 54% of deals buy GOLD
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OIL
|
87.40
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LONG @ 87.40
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§ 67% of deals buy OIL
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US 500
|
1392
|
LONG @ 1392
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§ 31% of deals buy US 500
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UK 100
|
5850
|
SHORT @ 5850
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§ 74% of deals buy UK 100
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CALENDAR◘
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Currency
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Time (GMT)
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Event
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Forecast
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GBP
|
09:30
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3rd quarter GDP
|
1.0%
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USD
|
13:30
|
Durable Goods Orders in October
|
-0.6%
| |
USD
|
14:00
|
Case Shiller 20 m/m in September
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0.4%
| |
USD
|
15:00
|
Consumer Confidence
|
73.1
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MOVERS ◘ SHAKERS
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US Tech
|
US Tech (NDQ) carried on its days-old rebound off the multi-month low recorded two weeks ago, when it temporarily pierced below the 2500 support level. The US technology equities index has risen to 2649.13, a 6% appreciation since. It still looks bullish early in the EU session today; however minor retracements should be expected.
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