Daily review 06/06/12
Asian stock markets trading today (Wednesday) in a positive trend after increases on Wall Street yesterday and publication of positive macro data in Australia today.
Wall Street, as noted, closed yesterday in price increases due to better than expected macro data, when the disturbing news from Europe continues - The Spanish government came out with request for external assistance to the country's banking system, while the next parliamentary elections in Greece raise concerns that the recent will leave the Eurozone.
The news from Europe will of course affect the world markets today.
A new German survey results published yesterday shows that the Germans had it with being “the punching bag” of Europe.
49% of respondents said that they are in favor of the retirement of Greece from the Eurozone and in favor with the policy of German Chancellor Angela Merkel, based on austerity measures.
The survey was published from Reuters, pointed out that only 39% of respondents want Greece to stay in the Eurozone in any case, while more than -2 / 3 said that Angela Merkel had to keep pushing the Greeks to carry out the reforms and austerity measures they had adopted.
Back to Asia, Australia reported today the GDP grew by 1.3% in the first quarter, versus economists forecast to rise only 0.6%.
Following the data Australian dollar jumps by about 1% against the dollar.
DOW 0.22% ↑ S&P 0.57%↑ NSDQ 0.66%↑
Technical review
EUR / USD:
EUR/USD trading at -1.2490 an increase of 0.29% in writing.
The pair may find support at 1.2439 today low and resistance at- 1.2541 Tuesday high.
Meanwhile, the Euro gain strength against the British Pound and against the Japanese Yen, when the -EUR/GBP add a 0.05% to 0.8097 and –EUR/JPY add 0.42% to 98.45.
GBP/USD:
The British Pound gains strength against the U.S Dollar today, trading at 1.5419 an increase of 0.24%.
The pair may find support at 1.5371 today low and resistance at 1.5524 Thursday high.
Meanwhile, the British Pound weakens against the Euro and gain strength against the Japanese Yen, while the EUR/GBP add a 0.05% to 0.8097 and the GBP/JPY add 0.38% to 121.58.
USD/CAD:
The U.S Dollar weakens against the Canadian Dollar today, trading at 1.0339 a decrease of 0.34%.
The pair may find support at 1.0316 Friday low and resistance at 1.0382 today high.
Meanwhile, the U.S Dollar weakens against the Euro and against the British pound, while the EUR /USD add 0.29% to 1.2490 and the GBP/USD add 0.24 to 1.5419.
WTI- Crude Oil:
The WTI gain strength today, trading at 84.67 an increase of 0.47%.
May find support at 83.30 Tuesday low and resistance at 86.57 Friday high.
