CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Trade Balance figures from Europe UK and the US

Article By: ,  Financial Analyst
August 9, 2012 9:00 AM

 

EUR/USD

Range: 1.2325-1.2450
Support: 1.2300
Resistance: 1.2450

Euro was confined to range trading throughout the New York and Asian session, drifting between 1.2345 and 1.2385. Today we’ll see the release of the ECB’s Monthly Bulletin as well as Italian trade balance figures, expected to show further contraction of Italian balance of payments. The figures are out at 9am and are expected to come in at 0.97bn.

 

 

 

GBP/USD

Range: 1.5500 – 1.5800
Support: 1.5530
Resistance: 1.5730

Overall the BoE Inflation Report signalled contentment with current BoE policy expectations, with no view to boost expectations of further policy easing. CPI projection was maintained at around 1.6% and GBP forecast lowered to 2%. The report highlighted concern about the impact on building societies following a cut in the bank rate, a contributing factor towards the MPC’s decision not to cut rates so far, also noting the Euro area to pose the greatest risk to UK outlook. 9.30am marks the release of UK Trade Balance figures. July’s data exceeded expectations at -8.4bn, however, we’re expecting a marginal decrease to -8.5bn.

 

 

 

AUD/USD

Range: 1.0550-1.0650
Support: 1.0585
Resistance: 1.0625

Overnight, AUD employment data proved better than expected, with 14k more people in employment during July and unemployment falling to 5.2%. The strong payroll data fuelled speculation that the RBA may refrain from cutting interest rates in the short term. Consequently, we saw AUD gain steadily to 1.0600.

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024