Simultaneous Release at
Good day forex koalas.
I had a bad Monday. I am so blue that i cannot even recognize myself in the mirror. Humph!
On Friday, we … wait. Where is my Friday EUR/USD Daily Review. Ok. I remembered. I was having a bad headache. So bad that it knocked me out.
AND YES. I apologized on Saturday.
Ok. /Calms down.
I really apologize. I really had a bad Monday and even the most patient koala would be tested. Anyway Friday was slightly bearish due to the poor US retail sales.
We had a slight forex gap over the weekend. The EUR/USD went bullish and continued the momentum for the rest of the day.
The S&P 500 is currently at 1103+. It is bullish indicating good sentiments.
Oil is around $75 and it seems to be stabilizing for now.
Gold is around $1222.
The sentiments in Europe improved today. One of the reason would be a better than expected industrial production. A lower valued Euro is probably helping to push this higher due to increased exports. This is the reason why a weaker currency may help at times.
The MSCI World, a gauge of the world equities performance, rose above the highest closing level since May 19.
While the bulls celebrate their long awaited correction, we need to note on certain potential party stoppers. A report indicated that investors interest in the bonds of European banks have dropped due to the fear that the banks may be excessively exposed to debts of troubled European countries. With the increased difficulty in securing funds, the banks may suffer from a credit crunch.
From a technical point of view, after numerous attempt to breach 1.2135 on Friday, the weekend forex gap helped gave the momentum to propel the currency pair forward. We are now in a new range that is bounded by 1.2135+/- to 1.2440+/-. Immediate challenges would be 1.23 and 1.2330.
Among the data releases tomorrow brings the German ZEW Economic Sentiment. Germany being the Euro Zone’s largest economy, will have much effect on the currency. Close monitoring is advised. US’s TIC Long-Term Purchases, which can be used to observe foreign investment interest is one of another important release as well.
I always try to be as humble and friendly as i can. However at my crazy work, some colleagues just don’t play by the rules. You do your best to be nice, they give you @#$$@#^!$ in return.
Trade Safely and ignore me.
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