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Euro Rebounded from its 11 Month Low

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Currencies

  • The euro (EUR) climbed from its 11 month low at 1.3152 all the way up to 1.3216 against the US dollar (USD). The single currency rebounded on speculation the European Central Bank (ECB) may not add more stimulus measures in next week’s meetings.
  • The US dollar (USD) declined around 50 pips reaching its weekly low at 103.69 against the Japanese yen (JPY). The pair retraced ahead of quarterly US GDP and Monthly US Home sales announcements with expectations at 3.9% and 0.6% respectively. Any negative figures coming out may push the pair even lower.

Equities

  • The European equities continues to rally with the Germany 30 (DAX) rose up to 9600, France 40 (CAC) went up to 4401 and UK 100 (FTS) climbed up to 6827.

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Euro is Under Pressure as Inflation Data Comes Ahead Tomorrow

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Currencies

  • The euro (EUR) continues its bearish trend against the US dollar (USD) and it touched its lowest point since September 2013 at 1.3152, as European inflation data will come out tomorrow. The single currency is falling as investors believe that the inflation data will be worse than expected as the latest economic data were disappointing for the Eurozone and the European Central Bank (ECB) may add more stimulus measurements.
  • The US dollar (USD) it climbed from 103.74 up to 104.16 against the Japanese yen (JPY) and is now trading around 104.00. The Japanese yen is under pressure as the US quarterly GDP will come out tomorrow.

Equities

  • US equities gained yesterday as the US economy recovers faster, with the US 500 (SPI) passed for first time the level of 2000, while the US 30 (DOW) recorded new high at 17129 and US Tech (NDQ) near its all-time high at 4075.

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US Indices Recorded New All-Time High

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Currencies

  • The euro (EUR) recorded a new 11-month low at 1.3178 against the US dollar (USD). The pair fell as the German Ifo Business Climate index came out less than expected, at 106.3, while the expected was at 107.1.
  • The US dollar (USD) fell down to 103.88 against the Japanese yen (JPY), as the US New Home Sales were less than expected at 412K, while the expected sales were at 426K. Today the US monthly Core Durable Goods Orders and the US CB Consumer Confidence will be announced and are expected to rise by 0.5% and 89.1 respectively.

Equities

  • US equities gained yesterday with the US 500 (SPI) reached for first time 2000 while the US 30 (DOW) and the US Tech (NDQ) recorded new high at 17100 and 4078.

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Dollar Strengthens Across the Board

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Currencies

  • The euro (EUR) opened lower at 1.3205 this morning against the US dollar (USD) as the European Central Bank (ECB) signalled that there might be more stimulus measures to help growth. The single currency is under pressure as the German Ifo Business Climate will be announced and is expected to be at 107.1
  • The US dollar (USD) opened higher at 104.25 against the Japanese yen (JPY).. The greenback continues to be the strongest currency, after the Jackson Hole Symposium, where Janet Yellen increased speculation for an earlier increase in interest rates despite that the labour market still have further to heal before raise interest rates.

Equities

  • US equities record new all-time high as the US economy seems to recover faster. The US 500 (SPI) advanced to a record 1994, the US 30 (DOW) climbed to 17048 and the US Tech (NDQ) record high at 4072.

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