GBP/USD (Oct 02 at 09:37 GMT)
1.5885/88 (-0.35%)
H 1.5949 L 1.586
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.5784 | 1.5824 | 1.5863 | 1.5891 | 1.5930 | 1.5970 |
| [?]Trend Index | [?]OB/OS Index |
| Neutral | Neutral |
| Data updated on Oct 02 at 09:30 (15-minute timeframe) | |
UK Housing Equity Withdrawal: £-7B in 2Q from £-7.3B
Posted in on byEuropean markets open with declines on pre-Payrolls caution; Dollar, stronger
Posted in on byEuropean markets have opened Friday's session on weak note, on cautious trading ahead of the key U.S. Non Farm Payrolls report, after a string of downbeat economic indicators in the U.S. Dollar has strengthened across the board as risk appetite waned.
Eurostoxx 50 Index declines 0.95%, while the German DAX Index sheds 0.7%, and the French CAC index drops 1.1%. In the UK the FTSE Index drops 0.4% in the first hours of trading.
Investors await the U.S. Non-Farm payrolls report for clues about the pace of recovery in U.S market analysts expect a decline of about 175,000 employments. labour market, after downbeat data yesterday on U.S. Jobless claims and ISM manufacturing.
Dollar continues ticking higher
GBP/USD has continued trading lower from 1.6125 high on Sept 30, as the pair's attempt to bounce from 1.5880 was capped at 1.5950, sending the Pound down to session low at 1.5865. The Sterling has picked up later, reaching levels right at 1.5900 at the time of writing.
EUR/USD is moving in a range from 1.4520 to 1.4560 after testing Sept 10 low at 1.4500 during Asian session. On a wider point of view, The Euro is shaping a steady downward pattern since it topped at 1.4845, 13 month high.
USD/JPY continues weakening, pulling down from 90.40 high on September 30, the pair attempted to pick up from 8920 session low although it was halted at 89.60 area and the Dollar dropped back to levels around 89.30 at the moment of writing.
EUR/USD (Oct 02 at 09:35 GMT)
1.4548/48 (0.05%)
H 1.4565 L 1.45
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.4465 | 1.4502 | 1.4538 | 1.4555 | 1.4591 | 1.4628 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Oct 02 at 09:30 (15-minute timeframe) | |
UK 2Q Housing Equity Withdrawal -GBP7.0B Vs -GBP7.3B 1Q
Posted in on by
LONDON -- U.K. households injected a net GBP7.0 billion of equity back into their homes in the second quarter of 2009, the fifth straight quarter that there has been a net injection, the Bank of England said Friday.
That was little changed from the GBP7.3 billion repayment in the first quarter of this year, a figure that was revised lower from an originally reported GBP8.5 billion. Between April and June last year, homeowners put a total of GBP1.6 billion of equity back into their homes.
The data show the portion of borrowing that is secured on residential property but isn't invested in the U.K. housing market, instead used to finance consumption or invest in financial assets.
Although the U.K.'s economic outlook is improving, consumers' confidence remains below average levels, suggesting they are likely to continue for some time putting money back into their homes rather than withdrawing it.
Housing equity withdrawal in the second quarter represented -2.9% of U.K. residents' post-tax income. That compares with -3.1% in the first quarter of the year and -0.7% in the second quarter of 2008, the data showed.
That was little changed from the GBP7.3 billion repayment in the first quarter of this year, a figure that was revised lower from an originally reported GBP8.5 billion. Between April and June last year, homeowners put a total of GBP1.6 billion of equity back into their homes.
The data show the portion of borrowing that is secured on residential property but isn't invested in the U.K. housing market, instead used to finance consumption or invest in financial assets.
Although the U.K.'s economic outlook is improving, consumers' confidence remains below average levels, suggesting they are likely to continue for some time putting money back into their homes rather than withdrawing it.
Housing equity withdrawal in the second quarter represented -2.9% of U.K. residents' post-tax income. That compares with -3.1% in the first quarter of the year and -0.7% in the second quarter of 2008, the data showed.
IMF Strauss-Kahn: Global Econ Has Turned The Corner
Posted in on by
ISTANBUL -- The global economy has "turned the corner" after its biggest contraction in decades, but downside risks persist, especially due to rising unemployment, Dominique Strauss-Kahn, the managing director of the International Monetary Fund, said Friday.
Banks still need to be weaned off their penchant for taking excessive risks, regulatory reform of the financial sector must proceed, and policy makers should be aware that any growth recovery registered so far has been due to fiscal stimulus packages, Strauss-Kahn said at a press conference here.
However, the IMF can play a key role as an international lender of last resort, a function that the multilateral lender's founders always envisioned, Strauss-Kahn said.
Banks still need to be weaned off their penchant for taking excessive risks, regulatory reform of the financial sector must proceed, and policy makers should be aware that any growth recovery registered so far has been due to fiscal stimulus packages, Strauss-Kahn said at a press conference here.
However, the IMF can play a key role as an international lender of last resort, a function that the multilateral lender's founders always envisioned, Strauss-Kahn said.
Euro Zone PPI up 0.4% MoM in Aug, -7.5% YoY
Posted in on byEUR/USD (Oct 02 at 09:31 GMT)
1.4551/52 (0.07%)
H 1.4565 L 1.45
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.4479 | 1.4516 | 1.4552 | 1.4566 | 1.4602 | 1.4639 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Oct 02 at 09:20 (15-minute timeframe) | |
Forex: USD/JPY: Dollar remains capped below 89.60
Posted in on byThe Dollar continues trading within a downward trending channel since it retreated from 90.15 high on Wednesday, as the pair's attempt to pick up from 89.20 low was capped at 89.60, sending the Dollar back to 89.30.
On a wider perspective, the Varengold Wertpapierhandelsbank AG foresees further decline after its fail to break 90.20 resistance: "The USD has been trading in a bearish trend channel against the JPY. When it tried to cross the upper line from the trend channel, the currency pair rebounded always back. The last attempt failed at its resistance at 90.20 to leave the trend channel. Also it seems that the MACD will cross the signal line from the top which could support a further bearish trend."
On the downside, next support levels lie at 89.15, and below here, 88.25 (Spt 28 low) and 88.00. Resistance levels are 89.85/90, and above here, 90.15/20 (Oct 1 high) and 90.40 (Sept 30 high).
USD/JPY (Oct 02 at 09:28 GMT)
89.40/41 (-0.19%)
H 89.63 L 89.18
| S3 | S2 | S1 | R1 | R2 | R3 |
| 88.9132 | 89.1366 | 89.3600 | 89.5000 | 89.7238 | 89.9475 |
| [?]Trend Index | [?]OB/OS Index |
| Neutral | Neutral |
| Data updated on Oct 02 at 09:20 (15-minute timeframe) | |
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