GBP/USD and EUR / USD bearish in sight.
See video for Technical outlook :
Fundamental analysis :
The U.S. stock markets came under pressure on Friday after the release of economic data that showed a sharp drop in the number of new jobs and economic slowdown. The negative tone was moved to Asian markets today. The U.S. dollar also weakened after the start of the labor market report that showed 54,000 new jobs in May compared with expectations of 125,000, while unemployment levels rose to 9.1% of 9%. This week does not leave many important economic reports in the U.S. but several senior conferences SFR, but the attention of investors in other countries attract events such as meetings of central banks of Australia, Britain and the ECB, GDP data in Japan, labor market data in Canada, etc.
The euro strengthened to its maximum of 4 weeks versus the U.S. dollar – 1.4656 with the expectation that Greece will receive financial support from the IMF and the EU. The last show of support was discussed in the course of European finance ministers meeting last week. The officials said after the meeting reached an agreement about financial support PRELIMINARY. It is possible that some will support the private sector through an exchange of papers. The process can begin in July if the program is adopted at the EU meeting in June. In addition to other tax reforms, Greece will have to sell state assets of 50 billion euros and further reduce expenses.
The Community currency is supported also by signs of economic recovery. The producer price index in the region will remain at a high level, estimated at 6.6% for the month of April. Tomorrow will publish retail sales data, which can also grow on Wednesday leaves the GDP report and Friday – the consumer price index. One of the main events of the week is the central bank meeting. According to expectations the bank will leave rates unchanged, but investors are expecting the ECB show their intention to tighten policy in Jul