HFM

Date : 17 July 2014 EURUSD CONTINUES TO TRADE NEAR THE LOWS AHEAD OF THE US UNEMPLOYMENT CLAIMS REPORT. EURUSD dropped yesterday and closed at 1.3524. In the 2nd day of her testimony the Fed Chief Janet Yellen continued to support the US dollar. She convinced the lawmakers that Fed would start raising interest rates earlier and faster than expected once the inflation and employment conditions improve. The housing market in the United States jumped to a six-month high level of 53 in July. The Producer Price Index rose 0.4 percent month over month in June. The Fed’s Beige Book survey revealed that the economy in the US grew in all regions in June and early July. Data released today indicated that the inflation in the Eurozone remained at 0.5 percent on an annual basis in June. Investors are now looking forward for the Building Permits, Unemployment Claims and the Philly Fed Manufacturing Index due from the United States. Support for the EURUSD is seen at 1.3523 and resistance is seen at 1.3594. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 16 July 2014 EURUSD CONTINUES TO MOVE TOWARDS THE 1.35 LEVEL AFTER YESTERDAY’S SHARP DROP. EURUSD dropped yesterday and closed at 1.3568. The German ZEW Economic Sentiment slipped for a 7-th consecutive month coming at a reading of 27.1 in July. The United States dollar received support from the Fed Chief Janet Yellen during her testimony to the Congress. Yellen mentioned that the US central bank will increase the interest rates sooner than expected if the labour conditions accelerate in faster pace. She also stated that the recovery in the largest economy in the world is not fully completed despite the few indicators pointing for a continued improvement. Data released yesterday indicated that the Empire State Manufacturing Index rose to a four-year high level of 25.6 in July. On the other hand the Retails Sales in the US rose less than expected coming at a reading of 0.2 percent. Investors are now looking forward for the Producer Price Index data and the second testimony of the Fed Chief Janet Yellen before the House Financial Services Committee in Washington DC. Support for the EURUSD is seen at 1.3523 and resistance is seen at 1.3594. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 14 July 2014 EURUSD PUSHED HIGHER IN THE EUROPEAN SESSION. ECB PRESIDENT DRAGHI SPEAKS IN STRASBOURG TODAY. EURUSD dropped on Friday and closed at 1.3604. Worries over the troubles in the European banking system pushed the Euro lower. The Prime Minister of Portugal Pedro Passos Coelho assured that the tranquility of the financial and banking system in the country will be well maintained and that the government would not have to intervene and bailout Banco Esprito Santo. Over the weekend the Bundesbank President Jens Weidmann called for an earliest as possible tightening of the ECB’s monetary policy as the current interest rates of the European Central Bank are too low for Germany. A release today indicated that the Industrial Production in the Eurozone dropped to a reading of -1.1 percent in May. Investors are now looking forward for the speech of the President of the European Central Bank Mario Draghi in Strasbourg. Support for the EURUSD is seen at 1.3590 and resistance is seen at 1.3647. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 10 July 2014 EURUSD LOSING ITS YESTERDAYS GAINS DURING THE EUROPEAN SESSION. US UNEMPLOYMENT CLAIMS ON TAP. EURUSD rose yesterday and closed at 1.3640. The United States dollar lost strength against its European counterpart after the FOMC Meeting Minutes failed to give a clear outlook of when Fed is planning to rise the interest rates in the largest economy of the world. On the other side the minutes revealed that the US Central bank is planning to end its QE program by October if the economy shows signs of recovery during the 2nd quarter of 2014. The President of the European Central Bank Mario Draghi stated during his speech in London that the risks to price stability in the Eurozone still persists and also reiterated his concerns on the strength of the single European currency. Investors are now looking forward for the Unemployment Claims due from the United States. Support for the EURUSD is seen at 1.3580 and resistance is seen at 1.3647. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 09 July 2014 EURUSD FLIRTING WITH THE 1.36 LEVEL AHEAD OF THE FOMC MEETING MINUTES. EURUSD rose yesterday and closed at 1.3611. An official report released yesterday indicated that the German Trade Balance widened to 18.8B in May. The head of Bank of Spain and ECB Governing Council member Luis Maria Linde cautioned yesterday that the inflation rate in the Eurozone will remain below the 2 percent target for a prolonged period of time and the possibility of deflation still exists. In the United States the President of the Minneapolis Fed Narayana Kocherlakota stated that the inflation in the US will remain below the 2 percent for more years. On the other hand the Richmond Fed President Jeffrey Lacker stated that the inflation rate is moving towards its target with the moderate economic growth witnessed lately in the largest economy in the world. Investors are now awaiting the outcome of the FOMC Meeting Minutes and the speech of the President of the European Central Bank Mario Draghi in London. Support for the EURUSD is seen at 1.3580 and resistance is seen at 1.3638. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 08 July 2014 EURUSD TRADING LOWER AFTER THE SMALL GAINS YESTERDAY. EURUSD rose yesterday and closed at 1.3603. The Sentix Investors Confidence in the Eurozone rose unexpectedly to a reading of 10.1 in July. On the other hand the German Industrial Production dropped 1.8 percent in May. Yesterday the German Finance Minister Wolfgang Schauble stated that the Eurozone needs structural reforms to fuel the growth in the single currency bloc. Investors are looking for the outcome of the ECOFIN Meetings taking place Brussels today. Support for the EURUSD is seen at 1.3580 and resistance is seen at 1.3638. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 07 July 2014 EURUSD HOLDING BELOW THE 1.36 MARK IN THE EUROPEAN SESSION. EUROGROUP MEETINGS ON FOCUS. EURUSD dropped on Friday and closed at 1.3593. The US dollar gained momentum after speculations that Fed will provide clear outlook of the interest rate rise perspective during the FOMC Meeting Minutes. The dollar was also boosted by the IMF Chief Christine Lagarde stated that the economic recovery in the US would eventually gain momentum. The ECB policymaker Christian Noyer stated on Sunday that the governments of the various EU countries are making no attempts to reduce their deficit. He also added that further deflation is avoided for the moment. Data released today indicated that the German Industrial Production dropped -1.8 percent on a monthly basis in May. Support for the EURUSD is seen at 1.3577 and resistance is seen at 1.3664. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 03 July 2014 EURUSD TRADING LOWER AHEAD OF THE ECB MINIMUM BID RATE DECISION. BUSY DAY FOR THE FX MARKETS. EURUSD dropped yesterday and closed at 1.3658. The French Prime Minister Manuel Valls urged the European Central Bank to take additional measures including asset-purchases to depreciate the value of the single European currency. According to him to Euro is still overvalued and the current rate has negative effect on the economy of the EU. The producer prices in the Eurozone dropped for a fifth consecutive month recording another drop in by 0.1 percent May. On the other hand the GDP in the Eurozone came in line with the market expectations at 0.2 percent. Data released from the United States indicated that the ADP Non-Farm Employment Change rose by 281K in June registering its highest level since November 2012. Today is going to be a busy day for the FX Markets with lots of high-impact releases. Investors are looking forward for the Minimum Bid Rate of the European Cental Bank, the ECB Press Conference, The US Trade Balance, Unemployment Clams and Unemployment Level as well as the Non-Farm Payrolls which are going to be released today due to the bank holiday in the United States tomorrow. Banks in the United States will be closed due to the observance of the Independence Day. Support for the EURUSD is seen at 1.3609 and resistance is seen at 1.3696. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 02 July 2014 EURUSD TRADING LOWER AHEAD OF THE EUROZONE’S FINAL GDP REPORT. EURUSD dropped yesterday and closed at 1.3678. Data released from the Eurozone showed that the Final Manufacturing PMI dropped to a 7 month low reading of 51.8 in June. Another report indicated that the number of unemployed people in Germany rose for a second consecutive month. On the other hand the Unemployment Rate in the Eurozone remained stable at 11.6 percent. Market had expected a rise to 11.7 percent. Data from the United States indicated that the ISM Manufacturing PMI dropped to a reading of 55.3 in June. Investors are now looking forward for the final first quarter GDP report of the Eurozone and the ADP Non-Farm Employment Change report due from the United States. Later on the Fed Chair Janet Yellen speaks at the International Monetary Fund in Washington DC. Support for the EURUSD is seen at 1.3609 and resistance is seen at 1.3696. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Date : 01 July 2014 EURUSD UNCHANGED AFTER THE MANUFACTURING PMI AND UNEMPLOYMENT DATA. ISM MANUFACTURING PMI FROM THE UNITED STATES ON FOCUS. EURUSD rose yesterday and closed at 1.3691. The US Pending Home Sales rose to a 4-year high reaching 6.1 percent on a monthly basis in May. On the other hand the Chicago PMI dropped to a reading of 62.6 in June. Data released from the Eurozone showed that the inflation remained unchanged at 0.5 percent in June, remaining below the ECB target for a 9th consecutive month. Data released today indicated that the unemployment level in the Eurozone remained unchanged at 11.6 percent. Another report indicated that the unemployment level in Germany unexpectedly rose by 9K for a second month. Investors are now looking forward for the ISM Manufacturing PMI release due from the United States. Support for the EURUSD is seen at 1.3609 and resistance is seen at 1.3696. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.