Following comments from Moody’s about Greece struggling to be back on a sustainable debt path, also adding that they see high odds of Greek default on privately held debt, the rating agency hit back again on Thursday, this time to remind Eurozone countries that growth for 2013 is expected to be meager. According to Moody's, the Euro zone GDP is expected to rise 0.2% next year, with France GDP projection at 0.4%, Germany to show a 1.2% increase, while contractions in the tune of 4.2% and 1.5% are expected in Greece and Spain respectively. If Greece leaves the euro zone, the EU GDP would fall 4.5%, Moody’s forecasts.
An official from the Greek finance ministry announced on Wednesday plans of hiring Deutsche Bank and Morgan Stanley to carry out the voluntary bond buyback. He affirmed that Deutsche Bank would take on the role of the principal supervisor, but would work closely together with Morgan Stanley. This decision comes after the EU and the IMF reached an agreement on conducting a debt repurchase aimed at reducing Greek debt to sustainable levels. Details of the buyback will be announced next week by the Greek debt management agency. As it has almost run out of money, the Greek government proposed that it would borrow 10 billion euros from the EFSF, which would allow it to buy 30 billion euros worth of debt, reducing thus its outstanding obligations by 20 billion euros. Greece still hasn't decided at what price it will offer the bond buyback to private holders of bonds.-FXstreeet.com
2012-11-30 07:00 GMT
Germany. Retail Sales (YoY) (Oct)
2012-11-30 10:00 GMT
European Monetary Union. Unemployment Rate (Oct)
2012-11-30 13:30 GMT
United States. Core Personal Consumption Expenditure - Prices Index (YoY) (Oct)
GBP/USD flat below 1.6050, ‘favors the upside’ – V.Bednairk
2012-11-30 05:26 GMT
USD/JPY higher for the session, but still flat for the week
2012-11-30 04:28 GMT
EUR/USD soon expected to crack 1.30 - UBS
2012-11-30 03:42 GMT
GBP/JPY capped below 8-month highs 132.50
AUDUSD
1.04303 / 311
NZDUSD
0.82270 / 286
USDCHF
0.92635 / 650
USDCAD
0.99314 / 326
GBPJPY
132.188 / 202
EURCHF
1.20438 / 450
GOLD
1729.88 / .16
SILVER
34.23 / .26
EURUSD
HIGH1.30067
LOW1.29694
BID1.30015
ASK1.30022
CHANGE0.18%
TIME08:21:10
OUTLOOK SUMMARY
Up
TREND CONDITION
Upward
penetration
TRADERS SENTIMENT
Bearish
IMPLIED VOLATILITY
Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Extension of the stability above the 1.3013 (R1) level would keep the bullish structure intact and validate next intraday targets at 1.3028 (R2) and 1.3042 (R3). Downwards scenario: The hourly structure might turn into negative scenario if the price mange to overcome next support level at 1.2982 (S1) later on today. Supportive areas locates at 1.2967 (S2) and 1.2951 (S3).
Resistance Levels: 1.3013, 1.3028, 1.3042
Support Levels: 1.2982, 1.2967, 1.2951
GBPUSD
HIGH1.60485
LOW1.60346
BID1.60462
ASK1.60470
CHANGE0.04%
TIME08:21:11
OUTLOOK SUMMARY
Up
TREND CONDITION
Upward
penetration
TRADERS SENTIMENT
Bearish
IMPLIED VOLATILITY
Medium
Upwards scenario: GBPUSD might find buyers above the important resistance level at 1.6058 (R1) (High of the 27/11/2012). Break here would open route towards to our next targets at 1.6067 (R2) and 1.6077 (R3). Downwards scenario: In regard to the descending movement, opportunities for bearish oriented traders is seen below the support level at 1.6033 (S1). Loss here would enable next supports at 1.6024 (S2) and 1.6013 (S3).
Resistance Levels: 1.6058, 1.6067, 1.6077
Support Levels: 1.6033, 1.6024, 1.6013
USDJPY
HIGH82.545
LOW82.046
BID82.380
ASK82.385
CHANGE0.32%
TIME08:21:12
OUTLOOK SUMMARY
Up
TREND CONDITION
Upward
penetration
TRADERS SENTIMENT
Bearish
IMPLIED VOLATILITY
Medium
Upwards scenario: A violation of next resistance at 82.55 (R1) might call for a run towards to next target at 82.67 (R2) and any further appreciation would then be targeting 82.81 (R3). Downwards scenario: Near-term risks are directed to a drop back to the consolidation formation below the support at 82.28 (S1). In such case our intraday expected targets would be 82.14 (S2) and 82.00 (S3).
Resistance Levels: 82.55, 82.67, 82.81
Support Levels: 82.28, 82.14, 82.00
Disclaimer
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
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