Daily review 07/06/12
Asian stock markets trade is conducted today (Thursday) in price increases for the third consecutive day, due to worldwide speculation that central banks in the U.S. and Europe will confirmed growth incentive programs.
On the background, investors continue to react according to the ECB chairman Mario Draghi, made clear yesterday he will continue to support banks in the continent until January 2013, and also supported with the words of vice chairman of the Fed, in a possibility of further quantitative easing.
Encouraging news from Europe led to sharp increases closing last night on Wall Street and European stock markets: the main news came from European Central Bank left Eurozone interest rates for June at 1% - but the chairman's speech Mario Draghi, who pledged to continue to put money into banks at low cost until January 2013, is that initiate the markets to increases.
Eager anticipation today in global markets, for the speech of the Federal Reserve Chairman Ben Bernanke in front of the U.S. Senate.
Bernanke will speak at 17:00 (MT4 time) about the state of the U.S. economy, when many hope that chairman of the U.S. central bank will meet market expectations and will announce additional bond purchases to support an increase in growth.
The situation in Greece continues to deteriorate: Senior government sources report that country citizens do not pay taxes regularly - what brings the state into bankruptcy, and to stop imports of basic necessities to its citizens.
This was stated in “The New York Times”.
According to reports of the Greek government officials, the country may go bankrupt already in July, not long after the coming election (to be held on June 17).
DOW 2.37% ↑ S&P 2.30%↑ NSDQ 2.40%↑
EUR / USD:
EUR/USD trading at -1.2561 a decrease of 0.14% in writing.
The pair may find support at 1.2439 Wednesday low and resistance at- 1.2586 today high.
Meanwhile, the Euro gain strength against the British Pound and against the Japanese Yen, when the -EUR/GBP add a 0.02% to 0.8119 and –EUR/JPY add 0.16% to 99.77.
The British Pound weakens against the U.S Dollar today, trading at 1.5471 a decrease of 0.15%.
The pair may find support at 1.5371 Wednesday low and resistance at 1.5514 Wednesday high.
Meanwhile, the British Pound weakens against the Euro and gain strength against the Japanese Yen, while the EUR/GBP add a 0.02% to 0.8119 and the GBP/JPY add 0.09% to 122.79.
The U.S Dollar gains strength against the Canadian Dollar today, trading at 1.0279 an increase of 0.07%.
The pair may find support at 1.0266 today low and resistance at 1.0382 Wednesday high.
Meanwhile, the U.S Dollar gain strength against the Euro and against the British pound, while the EUR /USD drop 0.14% to 1.2561 and the GBP/USD drop 0.15% to 1.5471.
WTI- Crude Oil:
The WTI gain strength today, trading at 85.11 an increase of 0.11%.
May find support at 84.01 Wednesday low and resistance at 85.69 today high.