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Daily Report: Euro Retreats on Greece Jitter, NFP WatchedEuro retreats mildly on again on news from Greece and as markets await employment data from US. Nonetheless, the common currency remains the strongest major currency so far this week. Greece invoked a rarely used option and requested to bundle today's payment to IMF together with the other three totalling EUR 1.6b, and put them off till end of June. That was a surprise to the markets as IMF chief Christine Lagarde expressed her confidence that Greece would pay the loan payment today. IMF noted in a statement that the bundling was "intended to address the administrative difficulty of making multiple payments in a short period." There were talks that the Greece and its international creditors are targeting to reach a deal by June 14. But now it looks like the negotiations could drag on till the end of the month. |
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| Featured Technical Report | |
USD/CAD Daily OutlookDaily Pivots: (S1) 1.2455; (P) 1.2479; (R1) 1.2523; More... USD/CAD continues to stays in consolidation below 1.2562 and intraday bias remains neutral. Another fall could be seen but downside would be contained by 38.2% retracement of 1.1919 to 1.2562 at 1.2316 and bring rise resumption. We'd still holding on to the view that corrective fall from 1.2834 is completed at 1.1919. Above 1.2562 will target 1.2834 resistance. |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency finally retreated after rising to 1.1380 in European session, bids at 1.1290-00 and 1.1250-55 were filled but buy orders are still noted at 1.1225-30, 1.1200 and 1.1185, buying interest is located at 1.1150, 1.1120 and 1.1100, fresh demand should emerge around 1.1080 and 1.1050. On the upside, offers are now seen at 1.1300, 1.1325-30 and 1.1350, sell orders are reported at 1.1380 and 1.1400 (stops above), selling interest is tipped at 1.1430 and 1.1450. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea : EUR/GBP - Buy at 0.7260As the single currency has retreated after rising to 0.7386, suggesting consolidation below this level would be seen and pullback to 0.7300 cannot be ruled out, however, reckon 0.7255-60 would limit downside and bring another rise later. Above said resistance would signal the rise from 0.7055 is still in progress and may extend gain to 0.7405-10, however, as broad outlook remains consolidative, reckon upside would be limited to 0.7445-50 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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