Weekend headlines suggest German Chancellor Angela Merkel may be re-thinking its stance over future Greece's debt haircuts, after she said on Sunday this is an option to consider, although not until the ongoing rescue program shows Greece's budget turned into a surplus. Since last Tuesday's deal to ease the mammoth-size debt burden that the Greek government suffers, so that its debt to GDP ratio can come down to 126.6% or thereabouts by 2020, Germany's posture on write-downs of Greek debt has been firm, saying that it would be illegal to pursue such scenario.
The majority of German Chancellor Angela Merkel's center-right coalition members as well as the main opposition parties supported the Greek deal. This outcome has positive implications for Merkel herself, as the vote was also a test of her lawmaker's support for her European policies, ahead of the federal elections scheduled for September 2013. During the debate preceding the vote German Finance Minister Wolfgang Schaeuble expressed his satisfaction with Greece's austerity efforts and emphasized that the speculation on another haircut on Greek debt could destabilize the situation in the Eurozone further. - FXstreet.com
2012-12-03 13:58 GMT
United States. Markit Manufacturing PMI (Nov)
2012-12-03 14:00 GMT
United States. ISM Prices Paid (Nov)
2012-12-03 15:00 GMT
United States. Construction Spending (MoM) (Oct)
2012-12-03 15:00 GMT
United States. ISM Manufacturing PMI (Nov)
2012-12-03 04:37 GMT
EUR/GBP firm above 0.8100
2012-12-03 00:02 GMT
USD/JPY capped below 82.50
2012-12-03 01:25 GMT
EUR/USD should advance towards 1.3140 - BBH
2012-12-03 00:47 GMT
AUD/USD breaks through 1.04 on disappointing Australian data
AUDUSD
1.04022 / 026
NZDUSD
0.81916 / 929
USDCHF
0.92527 / 538
USDCAD
0.99265 / 276
GBPJPY
131.994 / 008
EURCHF
1.20608 / 617
GOLD
1719.35 / .63
SILVER
33.62 / .65
EURUSD
HIGH1.30471
LOW1.29845
BID1.30309
ASK1.30316
CHANGE0.35%
TIME08:14:27
OUTLOOK SUMMARY
TREND CONDITION
Upward
penetration
TRADERS SENTIMENT
Bearish
IMPLIED VOLATILITY
Bullish
MARKET ANALYSIS - Intraday Analysis
Price action looks mainly consolidative on the hourly chart. Our next resistance stays at 1.3042 (R1). Market expansion towards to next targets at 1.3055 (R2) and 1.3075 (R3) looks reasonable if the price manages to overcome it.
Resistance Levels: 1.3042, 1.3055, 1.3075
Support Levels: 1.2968, 1.2958, 1.2938
GBPUSD
HIGH1.60476
LOW1.60129
BID1.60304
ASK1.60313
CHANGE0.15%
TIME08:14:28
OUTLOOK SUMMARY
Sideway
TREND CONDITION
Neutral
TRADERS SENTIMENT
Bearish
IMPLIED VOLATILITY
Bearish
The instrument does not seem to have momentum to identify clear direction. Protective measures for the upside development is seen at 1.6058 (R1). Break here would suggest next intraday targets at 1.6067 (R2) and 1.6077 (R3).
Resistance Levels: 1.6058, 1.6067, 1.6077
Support Levels: 1.6020, 1.6011, 1.5999
USDJPY
HIGH82.502
LOW82.266
BID82.342
ASK82.348
CHANGE-0.15%
TIME08:14:29
OUTLOOK SUMMARY
Sideway
TREND CONDITION
Neutral
TRADERS SENTIMENT
Bullish
IMPLIED VOLATILITY
Bullish
Instrument moves in range mode. In terms of technical levels next resistance level could be found at 82.74 (R1). Appreciation above it might enable next targets at 82.84 (R2) and 81.68 (R3) in potential.
Resistance Levels: 82.74, 82.84, 82.99
Support Levels: 82.04, 81.90, 81.68
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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