Euro Still in Narrow Range Under $ 1.3. The single currency Euro seems still stuck in a narrow range in the range of negative (Monday, 05/11) after last weekend falls to its lowest
level in 3-week Puspa vs U.S. dollar (USD). Strengthening of the USD against the EUR, especially since fundamental data showed that the U.S. economy created more jobs in the last month. The euro also weighed down by data re-confirms the contraction in the manufacturing sector.
Eurozone manufacturing index slipped to figure recorded 45.4 in October from 46.1 in the previous month. The downward break the recovery of the manufacturing sector which has shrunk in the last 2 months. Until the Euro was recorded during the sessions move narrowlyon the area of $ 1.2825 after only rose to a high of $ 1.2839, in contrast to the high levels achieved at the end of last week at 1.2950 perdollar.
As a result, the market sentiment assumes that the current crisis in Europe appears far from completion as the government continues to tighten the spending cuts, while the global economy is showing signs of slowing.
Ahead of Key Data, Aussie Tough
Ahead of the release of data on retail sales and the trade balance at 07.30 pm, the AUD / USD moved in the range of 1.0342. with low level at 1.0329 and a high level at 1.0347. Formerly at 5:30 pm, has released data that appear AIG services index by 42.8 points compared with 41.9 the previous month.
Greg McKenna, CEO of Lighthouse Securities and former chief currency analyst at NAB and Westpac said, "I think the Aussie moving pretty good when seen from the fundamental data., But global investors still require a more powerful instructions as an alternative to market direction."
"Strengthening USD feared to push the exchange rate AUD / USD currency but massive selloff likely will not happen," added Greg. Level support AUD / USD at 1.0300 and 1.0240. Resistance levels at 1.0379, 1.0405 and 1.0431.
Slow Market Risk; Profit Taking
Starting this week (Monday, 05/11), Asian markets generally move in the negative territory mainly because of the action brought by investors selling conducted over the weekend, including a sell-off that occurred on Wall Street. Today it seems investors reduce risky activities as market participants look forward to the middle of the U.S. presidential election certainty this week. Even data manpower - Non-farm payrolls and factory orders arising improved above expectations, unable to stem the negative market sentiment for profit-taking.
Throughout the month of October 2012, a new field of successful employment in the United States has reached 171 thousand, and that is a positive sentiment to Barack Obama when the presidential election campaign. And it's certainly going to decrease the popularity of his opponent in the election is Mitt Romney who is now the idol of the stock market on Wall Street. While the single currency euro still seems stuck in a narrow range in the range of negative after last weekend falls to its lowest level in 3-week Puspa vs U.S. dollar (USD). Strengthening of the USD against the EUR, especially since the data showed that the U.S. economy created more jobs in the last month. The euro was also weighed down by data re-confirms the contraction in the manufacturing sector.
Eurozone manufacturing index slipped to 45.4 recorded in October from 46.1 in the previous month. The downward break the recovery of the manufacturing sector in the last 2 months. As a result, the market sentiment assumes that the current crisis in Europe appears far from completion as the government continues to tighten the spending cuts, while the global economy is showing signs of slowing.
level in 3-week Puspa vs U.S. dollar (USD). Strengthening of the USD against the EUR, especially since fundamental data showed that the U.S. economy created more jobs in the last month. The euro also weighed down by data re-confirms the contraction in the manufacturing sector.
Eurozone manufacturing index slipped to figure recorded 45.4 in October from 46.1 in the previous month. The downward break the recovery of the manufacturing sector which has shrunk in the last 2 months. Until the Euro was recorded during the sessions move narrowlyon the area of $ 1.2825 after only rose to a high of $ 1.2839, in contrast to the high levels achieved at the end of last week at 1.2950 perdollar.
As a result, the market sentiment assumes that the current crisis in Europe appears far from completion as the government continues to tighten the spending cuts, while the global economy is showing signs of slowing.
Ahead of Key Data, Aussie Tough
Ahead of the release of data on retail sales and the trade balance at 07.30 pm, the AUD / USD moved in the range of 1.0342. with low level at 1.0329 and a high level at 1.0347. Formerly at 5:30 pm, has released data that appear AIG services index by 42.8 points compared with 41.9 the previous month.
Greg McKenna, CEO of Lighthouse Securities and former chief currency analyst at NAB and Westpac said, "I think the Aussie moving pretty good when seen from the fundamental data., But global investors still require a more powerful instructions as an alternative to market direction."
"Strengthening USD feared to push the exchange rate AUD / USD currency but massive selloff likely will not happen," added Greg. Level support AUD / USD at 1.0300 and 1.0240. Resistance levels at 1.0379, 1.0405 and 1.0431.
Slow Market Risk; Profit Taking
Starting this week (Monday, 05/11), Asian markets generally move in the negative territory mainly because of the action brought by investors selling conducted over the weekend, including a sell-off that occurred on Wall Street. Today it seems investors reduce risky activities as market participants look forward to the middle of the U.S. presidential election certainty this week. Even data manpower - Non-farm payrolls and factory orders arising improved above expectations, unable to stem the negative market sentiment for profit-taking.
Throughout the month of October 2012, a new field of successful employment in the United States has reached 171 thousand, and that is a positive sentiment to Barack Obama when the presidential election campaign. And it's certainly going to decrease the popularity of his opponent in the election is Mitt Romney who is now the idol of the stock market on Wall Street. While the single currency euro still seems stuck in a narrow range in the range of negative after last weekend falls to its lowest level in 3-week Puspa vs U.S. dollar (USD). Strengthening of the USD against the EUR, especially since the data showed that the U.S. economy created more jobs in the last month. The euro was also weighed down by data re-confirms the contraction in the manufacturing sector.
Eurozone manufacturing index slipped to 45.4 recorded in October from 46.1 in the previous month. The downward break the recovery of the manufacturing sector in the last 2 months. As a result, the market sentiment assumes that the current crisis in Europe appears far from completion as the government continues to tighten the spending cuts, while the global economy is showing signs of slowing.
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