The dollar weakened versus all except one of its 16 major
counterparts after Pacific Investment Management Co.’s Bill Gross said
he expected the Federal Reserve won’t tighten policy before 2016.
EURO:
The euro’s strength was limited against the dollar after
Portugal’s president late Sunday backed the current coalition government
of Prime Minister Pedro Passos Coelho. The support from President
Anibal Cavaco Silva removed the threat of snap elections and associated
hurdles to implementing unpopular austerity measures, reports said.
EUR/USD consolidates above $1.3100. Initial
resistance comes at Wednesday highs on $1.3180 with a break above
$1.3208 (high Jul 11) would expose $1.3255 (high Jun 21). Next support
comes at $1.2966 (low Jul.11) ahead of $1.2949 (high Jul.10) and finally
$1.2755 (low Jul.1).
POUND:
The pound reached its strongest level in more than two
weeks against the dollar as U.K. Prime Minister David Cameron said an
improvement in the economy may allow the government to lower taxes.
A report this week will show Britain’s economy expanded
0.6% in the second quarter, double the rate in the previous three
months, according to the median prediction of economists.
GBP/USD back to $1.5280 after it failed to
break above the key resistance at $1.5300. Above the figure the
resistance comes at $1.5340 (Jun 24 lows) and $1.5390/00 (61.8% Fibo of
the $1.5750 - $1.4810 decline). Initial support comes at $1.5200 with a
break below losses may extend to $1.5150 (Jul 18 lows) and $1.5080 (Jul
17 lows).
YEN:
The dollar lost some ground against the Japanese yen as
Prime Minister Shinzo Abe’s ruling party consolidated its power in this
weekend’s election.
Abe’s Liberal Democratic Party and its New Komeito ally now
have 135 of the 242 seats in the upper house. The LDP has controlled
the lower house since elections in December.
USD/JPY sits on channel support line from Jun
13 at Y99.70 with a break under widens losses to Y98.20 (Jul 11 lows).
Back above Y100.00 targets Y100.50 (Jul 15 highs), then - at Y101.00 and
Y101.50 (Jul 7 highs).
DATA AHEAD:
Monday is very light for economic reports, including US Jun Existing Home Sales Change at 14:00 GMT.
Комментариев нет:
Отправить комментарий