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Stronger Yen, Naoto Kan Japan Committed Trimming Public Debt

10:17 AM

In currency trading the Asian session today (18-06), seen through the strengthening of the Yen against the U.S. Dollar. Pair USD/JPY is currently engaged on a range of 90.90.

Prime ministers of Japan Naoto Kan said that he was committed to cutting Japan’s huge public debt. He also stated that the proposals of the opposition LDP (Liberal Democratic Party) to raise the consumption tax to 10% will be considered.

In technical, looking in the near term USD/JPY is still more likely to weaken the support nearest the range of 89.90 and the opportunity to re-test the 89.00 to 88.00 if the support level is penetrated. While for the longer term, it is estimated Yen still more likely to weaken further.

Stronger euro are still more likely, the Spanish Government Bond Sales Success

09:46 AM

In currency trading the Asian session today (18-06), the Euro currency is still seen moving narrowly against the U.S. Dollar. Pair EUR/USD is currently engaged in the range of 1.2392.

Spain who were rumored to require funding of U.S. $ 250 billion apparently succeeded in collecting the funds from bond sales. In addition, the EU is also reportedly going to publish the results of stress test on European banking. Both of these seemed to work up investor confidence while at this time.

Improving UK Retail Sales, Sterling Rebound Against U.S. Dollar

04:06 PM

Released last data indicator Retail Sales m / m which was just released by the National Statistics show signaled the existence of positive developments on the British economy.

The impact of data releases to trade GBP/USD pair this afternoon (17-06), which was observed to occur rebounds strengthening pound sterling currency. The forex market responded by pushing the GBP / USD that is in the range 1.4740.

Indicator of actual data Retail Sales m / m was reported increased to 0.6% of which were previously estimated to increase to 0.1% from 0.0%.

Retail sales fall in expectations, Sterling weaken against the U.S. Dollar

02:19 PM

Was observed to weaken the pound sterling foreign exchange trading GBP/USD and is in the range 1.4650. Weakening of this currency movement is an early response to the data to be released.

Data releases are expected to show the existence of macroeconomic performance decline signaled a marked deterioration in the growth of total retail sales in the UK.

National Statistics on this afternoon (17-06) is scheduled to announce the actual data value indicator Retail Sales m / m, which is expected to drop to 0.1% from the previous period value that is equal to 0.3%.

Euro Weakens, Outstanding Issues Negative About Spain

11:41 AM

In currency trading the Asian session today (17-06), look euro currency weakened against the U.S. Dollar. Pair EUR/USD is currently engaged in the range of 1.2275.

Currently outstanding concerns that Spain will need assistance from the EU and the IMF, it was reported that the amount of assistance is 250 billion Euros or approximately two times the amount of aid given to Greece.

Seeing the trend, the euro remained in bearish trends, but while it is still visible in the consolidation phase with the nearest resistance is in the range of 1.2400 to 1.2675. Fore the Euro is still open enough to weaken further, especially the euro zone debt problems seem to last long enough.