Positive macro data and traders sentiment from the U.S and Europe has helped the main indices to continue their sixth positive weekly session.
We believe that as long as the positive sentiment and stability messages continue to come from the E.U central bank and Germany – the markets will continue their positive correction.
Key market data this week:
19/8 12:30 USD Chicago fed national activity index for July.
21/8 01:30 AUD RBA meeting’s Minutes (protocol).
21/8 03:00 NZD inflation expectations.
21/8 08:30 GBP public sector borrowing.
21/8 17:00 CAD Bank of Canada governor speaks.
22/8 Unknown Time Samaras (Greece prime minister) and Junker (E.U president) meet.
22/8 14:00 U.S Existing home sales.
22/8 14:00 U.S FOMC (Federal open Market Committee) minutes.
23/8 06:00 EUR Germany gross domestic product.
23/8 Unknown Time Samaras (Greece prime minister) and Merkel (German president) meet.
23/8 14:00 U.S new home sales.
24/8 Unknown Time Samaras (Greece prime minister) and Hollande (French president) meeting.
24/8 14:00 U.S durable goods orders.
Correcting from its last low of 1.205, the euro is trading at a range with Resistance is at 1.244, and then again at 1.253, support at 1.23.
Oil – Has the potentiasl to correct from its current level which also act as a strong resistance level of 96.6 ro 92.