Euro Zone’s investor confidence for this month improved more than expected but remained in the negative territory for the sixth month in line. Sentix index added 2.9 points to minus 21.1 this month from minus 24 in December, reported Sentix market research group. Experts predicted the index to gain 0.5 points to minus 23.5.
US employers managed to exceed expectations in creating new jobs adding more than 200,000 new jobs in December. The unemployment rate declined to 8.5%, hitting three-year low while the salaries and working hours jumped. Better than expected results follow increase in manufacturing activities and improved consumer confidence thus signaling on economic recovery of the US.
The U.K. government will host a series of conferences and seminars during the London Olympic Games to boost investment in Britain. The meetings, starting with a Global Investment Conference including central-bank governors, trade ministers and company chiefs on July 26, will generate more than 1 billion pounds in additional revenue for British businesses, the U.K. Trade and Investment agency said in an e-mailed statement today.
Philip Hildebrand, the chairman of the Swiss National Bank, resigned after he had faced allegations in malpractice. His wife was accused of using leaked information on the reduction of the Frank exchange rate to raise currency deals. Both continue to deny guilt. The SNB claimed that Philip Hildebrand and his wife had not broken any rules.
The euro touched an 11-year low against the yen before the German and French leaders meet amid signs Europe’s sovereign-debt crisis is damping the region’s prospects for growth.
Daily maximum: 1.2785
Daily minimum: 1.2677
The pair recovered on Monday as the EU leaders met today to address the EU debt cross, causing the daily market participants’ mean target at 1.2735 to breach. Daily Resistance: 1.2788; 1.2857; 1.2903. Daily Support: 1.2673; 1.2627; 1.2558. Daily Bias: Strongly bearish.
Daily maximum: 98.24
Daily minimum: 97.55
The shared European currency started pairing previous weekly losses and pierced the daily forecast mean (98.11) as the German Chancellor Angela Merkel and the French president Nicola Sarkozy met to discuss further measures to tackle region’s debt woes. Daily Resistance: 98.52; 99.17; 99.49. Daily Support: 97.55; 97.23; 96.58. Daily Bias: Bearish.
Daily maximum: 1.5469
Daily minimum: 1.5397
The British pound felt a relief today and broke through the daily forecast target (1.5437) as investors hope the EU leaders will come up with new measures to end the debt crisis in Europe. Daily Resistance: 1.5508; 1.5592; 1.5658. Daily Support: 1.5358; 1.5292; 1.5208. Daily Bias: Strongly bearish.
Daily maximum: 77.00
Daily minimum: 76.77
The pair eased today and moved below the 77.00 mark as investors remain cautious regarding the latest macroeconomic data, released on Friday. The daily forecast at 77.05 remained intact today. Daily Resistance: 77.21; 77.46; 77.59. Daily Support: 76.83; 76.70; 76.45. Daily Bias: Strongly bearish.
Daily maximum: 0.9583
Daily minimum: 0.9491
The daily market forecast mean at 0.9546 has been successfully left behind as the Chairman of the SNB, Philipp Hildebrand, resigned. Daily Resistance: 0.9584; 0.9617; 0.9657. Daily Support: 0.9511; 0.9471; 0.9438. Daily Bias: Strongly bullish.
Merkel, Sarkozy press for quick Greek solution
Germany and France warned Greece on Monday it will get no more bailout funds until it agrees with creditor banks on a bond swap and pressed for an early deal to avert a potential default in the euro zone’s most debtstricken nation.
US Moves to Legal Action Against Swiss Bank: Sources
US authorities are moving toward taking legal action against Wegelin & Co, which could lead to an indictment of one of Switzerland’s last pure private banks, on charges that it enabled wealthy Americans to evade taxes, according to two persons with knowledge of the case.
Shanghai, Hong Kong stocks jump on easing hopes
Chinese and Hong Kong stocks surged on Monday as hopes that Beijing may soon relax its monetary policies to support economic growth spurred strong buying across sectors.