Trading news

Daily Forex Market Review

EUR/USD:
The euro rose against the dollar after the Greek parliament gave the green light to the government of Tsipras to negotiate with creditors on an alternative plan. Creditors considered this step as a positive and a good basis for negotiations with Greece in order to plan their access to the third aid worth 74 billion Euros.

European economic data
• Euro group meeting
American economic data
• Monthly budget statement at 18.00 GMT

GBP/USD:
The British pound rose against the US dollar after positive economic data were released, which showed a decline in the deficit in the British trade balance non-EU 1.57 billion pounds in May. While in April the deficit was 2.4 billion pounds. Data also showed a decline in the trade deficit for goods in May to 8 billion pounds, from 9.39 billion pounds in April.

British economic data
• BOE creditor conditions survey at 08.30 GMT
• BRC retail sales monitor at 23.01 GMT

USD/JPY:
The US dollar rose against the Japanese yen after the US Federal president Janet Yellen’s comments about a hike in US interest rates during the current year. However, the hike depends on the improvement in the labor market and the confidence that inflation will return to 2% in the next few years.

Japanese economic data
• Tertiary industry at 04.30 GMT
• Industrial production at 04.30 GMT
• Capacity utilization at 04.30 GMT

AUD/USD:
The Australian dollar fell against the US dollar after negative economic data released from the Australian side, where home loans fell in Australia in May to- 6.1% after it was 0.7% in April. Investment lending homes also fell in May to -3.2%.

Gold
The price of the precious metal rose for the third consecutive day due to the political and economic developments in the Greek crisis, and the economic data released from the US side that showed accelerated growth in wholesale inventories and Janet Yellen’s comments about an expected rate hike later this year.

Oil
Oil prices stabilized after US data showed accelerated growth in wholesale inventories and the weekly report from EIA which showed a decrease in the surplus of crude oil stocks in the United States to about 0.4 million barrels compared to 2.4 million barrels in the previous weekly reading.

Disclaimer
The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

Monday, 13 Jul, 2015 / 10:35

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://icmcapital.co.uk/

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