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Euro Economy News- Germany Upbeat France Down

German economic growth advanced more than the predicted level of economists last quarter. This led to the Euro zone recovery.

The Federal Statistics Office revealed that the economy boosted growth to 0.8 % from 0.4 % in the previous quarter. Economists predict a 0.7 % growth in Germany. While in France, the economy unpredictably stagnated in the period and in the case of Italy, the economy contracted by 0.1 %.

The statistics office further revealed that Germany’s growth was motivated by domestic consumption by private households and the government. There was an advancement in the investment in construction and machinery.

While in France, the spending by households and investment by business are strangled by the deficit-cutting and tax increases amounting to more than 70 billion euros since 2011. The consumer spending slumped down by 0.5 % in the first quarter. Making a third-straight quarterly decline, investment spending declined by 0.9 %.

Data revealed that the Italian economy slumped by 0.1% against the prediction of 0.2% growth. Data revealed that the Dutch economy slumped down by 1.4 % in the fourth quarter. Data also showed that the Austrian economy advanced by 0.3 %. The euro moved down by 0.3 % against the dollar to $1.3668 as of 9:05 a.m. London time.

Forex outlook : Aussie and Kiwi surges up

The Aussie advanced by 0.4 percent to 93.96 U.S. cents after climbing to 93.98, the most noteworthy increase since April 15. New Zealand's kiwi picked up 0.4 % gain to 86.58 U.S. cents.

Suggested one-month instability in the Australian currency tumbled down to 6.37 % on May 9, the most minimal since April 2013. The proportionate figure for its New Zealand counterpart fell down to 7.04 percent on May 9, an end level unobserved till now from that of 2012.

The Aussie additionally climbed as a Credit Suisse Group AG index revealed that traders are speculating that, over the next year, the Reserve Bank will boost borrowing costs by 11 basis points. The projection was unaltered from May 13, when Prime Minister Tony Abbott's administration divulged using cuts in the federal budget.

Forex Outlook: British Pound Upbeat On Expected Economic Growth

The pound advanced against other major currencies, with the expectations of growth in the economy after a strong first quarter. Analysts estimate a 3 % economic growth this year, which was above the level of the previous estimate of 2.6 %. Similarly, the projected growth for 2015 was hiked to 2.7 % from the previous prediction of 2.5 %.

The Bank of England's quarterly inflation report and Governor Mark Carney press conference scheduled later in this week are keenly watched by traders for any evidence of change in interest rates. The central bank is expected by economists to raise interest rates before U.K.'s national elections, in early 2015.

Against the euro, the pound advanced to 0.8145 for the first time since January 2013, making an increase of 0.2 % compared to last week's closing quote of 0.8165. Resistance might be encountered by the pound around the 0.805 zone.

Against the yen, the pound advanced making a session's high of 172.30. The pound might face the next possible resistance at the 173.6 zone.Against the dollar, the pound stretched to a high at 1.6896. Speculation for the pound is that it might find a resistance level at 1.70 zone, if the bullish trend continues.

Yen Slumps, Japanese Investors Sell Euro Bonds

Data from the Japanese Ministry of Finance revealed that investors had sold a high amount of euro-denominated long and medium-term bonds in March 2014. 

The Tokyo-based Ministry of Finance stated today that Japanese money managers made net sales of 1.96 trillion yen equivalent to 19.2 billion U.S. dollars. Surprisingly, since the 10 months ended December 2011, this is the highest sales. The Japanese investors had purchased bonds of worth 5.39 trillion yen last year. 

Ayako Sera, a Tokyo-based market strategist at Sumitomo Mitsui Trust Bank Ltd. stated that Ukraine crisis plays a vital role. He also stated that going forward, it is expected that the Japanese money will be forced to go back into some of the higher yielding countries in the region. 

The yen moved down by 0.1 % to 140.28 against the euro. The yen also fell down by 0.1 % against the dollar trading at the level of 101.97 per dollar. When compared for the year on year basis, the Japanese yen had advanced by 3.2 % against the euro this year. While against the dollar, yen advanced by 3.3 % this year.

Forex Outlook: Canadian Dollar Slips Down On Weak Job Data

The Canadian dollar slumped down the most in seven weeks. Investors expect that in order to support economic growth, the Bank of Canada might decrease the interest rates

The Loonie, as the Canadian dollar is named for the image of the aquatic bird on the C$1 coin, slipped down after almost hovering near the strongest level versus the greenback, the U.S.dollar. This was influenced by the fall in the employment rate by 28,900 in April, as reported by the Statistics Canada.

The Canadian dollar slid down by 0.6 % to C$1.0898 against the U.S. dollar at 5 p.m. in Toronto after moving down by 0.8 %, the major drop from the time of 19th March. The decline pared the currency’s second weekly gain to 0.7 percent. The Canadian dollar ascended on May 9 to the strongest level at $1.0814, since 8th Jan. .

Data from a survey taken from economists predicts that the Canadian dollar will slide down to C$1.13 for the year-end while it will bounce back to C$1.11 at the end of 2015.

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Market outlook: Asian Shares Upbeat, Positive Chinese Data

Asian shares moved up with the positive sentiment from dovish comments by the U.S. Federal Reserve chief Janet Yellen on 7th May . This was followed by the positive Chinese trade data showing some signs of stabilization.

Tokyo's Nikkei share average moved up by 1.1 %. The MSCI's broadest index of Asia-Pacific shares excluding Japan moved up by 0.5 %. Chinese exports surged up by 0.9 % in April compared to the year earlier. While the economists' estimates of exports were around a 1.7 % decline, the positive data have been higher than the expectations. In addition to that the imports also exceeded economists' expectations.

While in the U.S., the Dow Jones industrial average made an upswing of 0.7 %. While the S&P 500 advanced by 0.6 % Loosing its shine, Gold consolidated at $1,290.30 per ounce after being pressured down to 1.4 % on May 7.

Forex Commodity News: Gold Shines On Ukranian Crisis

Gold surges up to a three-week high as it is considered as safe-haven by investors in lieu of the tension in Ukraine. Another metal that has reached its highest level since August 2011 is Palladium.  The yellow metal advanced by as much as 0.4 % to trade at $1,313.66 an ounce. On May 5, Gold climbed to $1,315.68 an ounce, which is the highest since April 15.

And for the year, Gold has seen a rally of 9.2 %. Even though the Federal Reserve reduced their monthly bond-buying, the positive support was drawn to the metal from the rising conflict between Russia and Ukraine. In China, the world’s largest consumer of Gold, volumes for the benchmark spot gold contract in Shanghai moved up for a second day on May 6.

Palladium for immediate delivery moved down by 0.3 % to $816.25 an ounce. The metal slipped due to the apprehension that supplies from Russia, the biggest producer, may be disturbed on behalf of U.S. sanctions.

Platinum traded at $1,454.10 an ounce. The second-largest producer of the metal, Impala Platinum Holdings Ltd., projected a 60 % cut in the deliveries in three to four months if a 14-week-old pay strike persist to paralyze the mining activity in South African mines. Silver advanced by a 0.5 % to trade at $19.6974 an ounce.

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Forex Technical Analysis: US Dollar Range Bound While Gold Shows Weakness

US DOLLAR TECHNICAL ANALYSIS

The US Dollar seems to be stuck in the range for some time now after rejection at channel top
Above the support level at 10429, the dollar prices are in consolidation mode depicting the 38.2% Fibonacci expansion. Alternatively, a movement downward exposes the 50% level at 10409. Instead, it shows a break above the near-term resistance level at 10454 depicting the 23.6% Fibonacci

GOLD TECHNICAL ANALYSIS

Despite the uptrend shown by the yellow metal, the Gold Chart Setup predicts a softness
On the technical chart, the yellow metal prices are finding resistance at 1318.69. This is speculated from the descending Triangle chart formation and the 23.6% Fibonacci expansion. If the metal breaks above this barrier, it will achieve the 38.2% level at 1349.81. The descending Triangle reasons out in favor of its weakness and continues to look bearish. Nevertheless, near-term support is at 1277.00, as depicted from the Triangle bottom.

Forex Outlook News : Upbeat Australian Market

Australian shares moved up by 0.2 % with the speculation of the positive U.S. jobs report. The market sentiment was high with the advancement in the financial sector and the surging up of Treasury Wine.

Adding 9.3 points, the S&P/ASX 200 index advanced to 5,458.1 at the end of the trading session. The benchmark slid down by 1.3 % for the week, breaking the advancement of six consecutive weeks.

Treasury Wine Estates Ltd moved up by 6.5 %. It was supported by the reports revealing the interest of French company Pernod Ricard in buying its distressed U.S. assets.New Zealand's benchmark NZX 50 index moved up by 0.5 %, making an increase of 23.7 points to consolidate at 5,232.9 at the end of the trading session.

Forex Trading: Greenback Surges Up Against The Yen

The greenback made a comeback against the yen as data predicts a fall in jobless claims and an increase in hiring in April. More support was drawn to the greenback with the expectations of positive U.S. data on consumer spending and manufacturing growth.

The positive Chinese data for April showing better PMI readings facilitated a two-day gain by the Australian dollar. The dollar traded at 102.29 against the yen as of 1:02 p.m. in Tokyo. This was high from yesterday level of 102.24, when it moved down by 0.4 %.

Against the euro, the dollar kept steady at 1.3870 after decreasing by 0.4 % in New York. The yen also kept steady against the euro and traded at 141.88 per euro. Markets in China, Hong Kong, Singapore, South Korea and Switzerland will remain closed due to public holiday on May 1.

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Global Stock Market News: Wall Street On Late Rally, Asian Markets Cautious

Wall street made a late rally, while the Asian markets moved little with high caution in April 29. The Japanese market is shut down on 29th April.

The Dow edged to a 0.53 % and the S&P 500 moved up by 0.32 %. The Nasdaq closed on an even level as the stocks of Amazon and Facebook moved down.Expecting results of the major banks on another round of record profit, the Australian stocks moved up by 0.3%.

The South Korean market moved up by 0.1 %, even though the first quarter operating profits of Samsung Electronics fell down 3.3% to to 8.5 trillion won. However, this was higher than the market speculation of 8.4 trillion.  The MSCI's broadest index of Asia-Pacific shares also exhibited less momentum.

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Forex News: Yen Stronger Against The Dollar

The yen hit the highest in a week versus the dollar following the Ukraine tensions that is bringing the safety sentiment among the investors. On 24th April, U.S. Secretary of State John Kerry gave a warning for Russia to follow the consensus that is intended to de-escalating the Ukraine crisis. Nagayuki Yamagishi, a senior analyst in Tokyo at Money Square Japan Inc, foreign-exchange broker. said in a statement that the yen is viewed as a safe destination upon the escalating Ukraine situation.

Against the dollar, the yen traded at 102.40 at the time of 12:14 p.m. in Tokyo. It moved up by 0.2 %, the strongest since April 17. Against the euro, the yen traded at 141.66, moving down from 0.2 % weekly. The euro was at 1.3835 against the euro from the level of 1.3831, making a 0.2 % decrease.

Forex Outlook: Euro Slides Down Against The Pound

The euro fell down against the British Pound and traded at 0.8231 with a 0.04% loss for the day. On April 23, the pair traded between 0.8202-0.8246 and consolidated at 0.8233. The IFO Business Climate Index published by the Ifo Institute for Economic Research is expected to release its reading on Germany, the largest economy in the euro zone, today at 08:00 GMT. The index is predicted to give a lower reading of 110.4 in April compared to 110.7 in March.

The euro will gather more positive sentiment, if the reading falls on higher than expected level.
In another part of the world, the Confederation of British Industry is expected to release the results from its monthly CBI distributive survey at 10:00 GMT today. 

The index is predicted to give a higher reading of 17 in April compared to 13th in March 2014. Reflecting the short-term trends in UK retail and wholesale sectors, this indicator will be an important aspect of the formulation of the economic policy by the Bank of England and the government.

If the reading turns out to be more than expected, the pound will gain more appeal.

Technical view

EUR/GBP manages to breach the first resistance level at 0.8252, it maybe continue up to test 0.8271. In case the second key resistance is broken, the pair will probably effort to advance to 0.8296.

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Forex Outlook: A snap View On The U.S. Economy

Data on 17th of April revealed an increase in the Philadelphia Fed’s factory index to 16.6 in April, which analysts state that it is the highest since September. A report from the Labor Department revealed a lower jobless claims in April, with the jobless claims at 304,000 till April 12th, which was the lowest since September 2007.

Another report by Intercontinental Exchange Inc. showed positive speculation on the greenback. The Dollar Index, a comparison of the greenback against six major trading partners of U.S., was little changed at 79.852, with expectations of a 0.5 % increase this week.

 With the positive sentiment boosted by the improved climate, US consumer confidence has surged up from a nine-week low. Along with the optimistic employment prospects, this has boosted the economy.

Consumer spending in the spring is expected to rise with the higher wages. The retail sales saw an uptrend in March, the highest since September 2012. Official data revealed a hike in retail revenues by 1.1 %.

The Ward’s Automotive Group states that the automobile sales moved up at the fastest annualized rate since May 2007.

Forex Outlook: The Greenback Strengthens Against The Major Peers

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The dollar strengthened versus most of its major peers. The dollar seems to be a safe haven for investors amid tension in Ukraine. Expectations are high on today’s speech by the Federal Reserve Chair Janet Yellen.

In the wake of the deadly clashes in Ukraine, the U.S. and European Union may consider more sanctions against Russia, fueling more appeal for the greenback. With the data revealing slightly higher than expected growth data on China, the Australia’s dollar was steady and wiped off the earlier losses. The yen moved down as Japanese stocks moved up higher. After inflation slowed and dairy prices fell, the New Zealand’s dollar fell down for the second day.

The U.S. currency moved up 0.3 % to 102.19 against the yen. The dollar moved little against the euro and stayed at $1.3818, a 0.5 % increase this week. Against the greenback, the Aussie bounced back from its earlier fall of 0.3 % to retain at 93.64 U.S. cents. New Zealand’s dollar weakened against the greenback and moved down by 0.6 % to 85.88 U.S. cents.

Stock Market News- UK Tech Stocks Stumbled Down Upon Looming Stock Bubble

With fears of a looming tech stock bubble, the UK tech stocks stumbled in early trading after the NASDAQ index lost 3% in New York. This has been the worst session performance since late 2011.

A slide down of 3.6% was seen by Semi conductor maker ARM while the software firm Sage fell down by 2.5%. Monitise, the mobile banking firm slid down by 3.2%, while the fashion retailer Asos fell down by 3.4%. 

Even the new entrant, an internet-based food service, Just Eat, stumbled down by 3.8% which was lower than its IPO price. In another instance,the electrical firm AO World fell down by 2%.

There was greater beating for the US stocks this week and it had influenced the negative sentiments among investors in London. The stocks of Facebook fell down by 5.2%, that of Amazon fell by 4.4%, Google fell down by 3.3% and Twitter fell down by 2.7%.

Breaking Forex News : The Aussie Moves Top On Positive Economic Sentiment

Breaking Forex News 

With the positive sentiment on the economy growing, the Australian dollar moved higher at morning 14th April 2014 . Adding to the sentiment was the probability of adding more stimulus by the euro zone to boost the economy.

On 14th April , at 7.00 AEST, the Aussie was seen trading at 93.90 U.S. cents, which was more than that of the April 11 level of 93.75 cents. This movement was fuelled by the speech by the ECB President Mario Draghi that there may be an intervention if there is further strengthening of the euro.

Forex Market Outlook: NZD/USD Is Vulnerable To Downside Correction

After reaching a high of 0.8747 on 17th April 2014, the highest in years, the NZD/USD settled down to below 0.8700 level in the week. Speculating that the pair is heavily overbought, any correction will be healthy until the support level of 0.8600 is unbroken.

Investors are speculating on some of the important reports such as the CPI numbers scheduled on 16th April 2014  and the consumer confidence report to be released on 17th April. Some of the sentiments due to geopolitical tensions in Ukraine and the weak Chinese data may affect the kiwi. Investors can expect the kiwi to be range bound between 0.8700 level on the upside and a 0.8600 level on the downside, unless it starts a new movement.

NZD/USD                                                  0.8648/55 (-0.43%)
                                                                    H0.8695 L 0.8630 

S3	S2	S1	R1	R2	R3
0.8613	0.8635	0.8656	0.8740	0.8761	0.8783

Forex Outlook: Investors Keen On US Fed Speech

With little or no events to drive the New Zealand Dollar, there was more profit-booking for the New Zealand Dollar. The kiwi made a poor performance last week and moved down 0.72% versus the greenback. The yen moved up as the Asian stocks performed well. Adding to the positive sentiment of yen was the holding back the statement about any stimulus by the BOJ Governor Haruhiko Kuroda.

Looking bleak, the European trading hours were also very much uneventful with nothing much on the Economic Calendar. A decrease of 3.3% in the Switzerland’s Unemployment Rate is expected, making it the least in four months. Moreover, a slowdown in the output growth is depicted by the UK Industrial Production data. Much to the relief of the investors, these events will have little impact, since the central banks’ monetary policy outlook predicts less movement in Swiss Franc and British Pound price.

However, investors are keen on the scheduled comments from from Minneapolis and Philadelphia Fed Presidents Narayana Kocherlakota and Charles Plosser later in the day. Investors will also keep a watch on the speech by FOMC member and Chicago Fed President Charlies Evans. The market will fervently watch the tone of the speech about setting guide speculation about continuing of the Fed’s effort to narrow the QE asset purchases. A slightly hawkish inclination might likely uplift the US Dollar.

Asian Session

GMT	CCY	EVENT	ACT	EXP	PREV
22:00	NZD	NZIER Business Opinion Survey (1Q)	52	-	53
23:50	JPY	Current Account Total (¥) (FEB)	612.7B	618.1B	-1589.0B
23:50	JPY	Adjusted Current Account Total (¥) (FEB)	-41.4.7B	24.7B	-588.3B
23:50	JPY	Trade Balance - BOP Basis (¥) (FEB)	-533.4B	-593.6B	-2345.4B
1:30	AUD	NAB Business Confidence (MAR)	4	-	7
1:30	AUD	NAB Business Conditions (MAR)	1	-	0
2:50	JPY	Bank of Japan Monetary Base Target (¥)	270T	270T	270T
4:30	JPY	Bankruptcies (YoY) (MAR)	-12.37%	-	-14.62%
5:00	JPY	Eco Watchers Survey: Current (MAR)		-	53
5:00	JPY	Eco Watchers Survey: Outlook (MAR)		39.5	40

European Session

GMT	CCY	EVENT	EXP	PREV	IMPACT
5:45	CHF	Unemployment Rate (MAR)	3.3%	3.5%	Medium
5:45	CHF	Unemployment Rate s.a. (MAR)	3.2%	3.2%	Medium
6:30	EUR	Bank of France Business Sentiment (MAR)	-	98	Low
6:45	EUR	French Central Gov't Balance (€) (FEB)	-	-12.7B	Low
6:45	EUR	French Trade Balance (€) (FEB)	-5000M	-5732M	Low
7:15	CHF	Retail Sales (Real) (YoY) (FEB)	-	0.3%	Low
8:30	GBP	Industrial Production (MoM) (FEB)	0.3%	0.1%	Medium
8:30	GBP	Industrial Production (YoY) (FEB)	2.2%	2.9%	Medium
8:30	GBP	Manufacturing Production (MoM) (FEB)	0.3%	0.4%	Medium
8:30	GBP	Manufacturing Production (YoY) (FEB)	3.1%	3.3%	Medium

Critical Levels

CCY	Supp 3	Supp 2	Supp 1	Pivot Point	Res 1	Res 2	Res 3
EUR/USD	1.3618	1.3673	1.3707	1.3728	1.3762	1.3783	1.3838
GBP/USD	1.6483	1.6541	1.6575	1.6599	1.6633	1.6657	1.6715