Daily Market Review 11 of May

OVERVIEW


The S&P 500 bounce back in normal trading progress 0.3% as Greece efforts to shape a new government and a reject in American unemployed claim helps relieve worries of a labor market slow down. The European Central Bank (ECB) has hectic financial markets with more than 1 Trillion Euro of low-priced money to avoid credit markets from freezing up. Also the European Union lawmakers have previously claimed that banks reveal earnings from carry trades consequential from the supposed longer-term refinancing procedure and eliminate the money from bonus collections. The U.S. stock futures floored as investors charged a disclosure by JPMorgan Chase & Co. the major U.S. bank by means of assets, that it had a $2 Billion trading loss after the situation in credit securities showed threat than projected. Also the Asian stocks fell, bearing for the leading weekly rejection ever since November, whereas U.S. equity futures and oil crashes after JPMorgan Chase $2 Billion disclosure failure on synthetic credit securities highlight the jeopardy to global financial markets. The Federal Reserve Chairman Ben announced that the U.S. banking system is stronger and more flexible although still facing challenge on credit superiority and liquidity.


EUR/USD

EUR/USD is currently trading at 1.2915; the pair EUR/USD possibly will notice various instability in excess of  Spain declaration to patch up poorly banking system, whereas various profit attracting could as well be seen in the pair further on of in doubt weekend. The Break, should point for a bearish acceleration in the pair. The Support levels are at 1.2914 1.2883 1.2837 and the Resistance levels are at 1.2972 1.3015 1.3046