The euro touched a four-month low against the dollar as German Finance Minister Wolfgang Schaeuble said financial-market turmoil may last another two years, adding to concern Europe’s crisis is worsening. The 17-nation currency reversed its losses as a technical indicator signaled its recent decline came too fast. The euro was headed for a fourth weekly decline versus the yen before a meeting of Group of Eight nations’ leaders beginning today.

German Chancellor Angela Merkel and fellow European leaders will face pressure from their G-8 counterparts to do more to quell the turmoil after speculation Greece will exit the euro wiped almost $4 trillion from global stock markets this month.

Fitch lowered Greece’s ranking to CCC from B-, saying the strong showing of “anti-austerity” parties in elections on May 6 and subsequent failure to form a government underscored the lack of public and political support for the country’s bailout from the European Union and International Monetary Fund.

Moody’s yesterday lowered the credit ratings of Spain’s biggest banks including Banco Santander SA (SAN) and Banco Bilbao Vizcaya Argentaria SA, citing economic weakness and the government’s mounting budget strain.

The yen has risen versus all of its 16 major counterparts this week as a report from the Federal Reserve Bank of Philadelphia yesterday showed its general economic index unexpectedly fell to the lowest since September. Japan’s Finance Minister Jun Azumi said today he is watching currency moves with great interest and more caution. Azumi said Japan will take appropriate steps if needed in the foreign-exchange market.

Though pair still hampered by the reported supply ahead of $1.2750.

EUR/USD $1.2670, $1.2700, $1.2900, $1.2615-1.3615

USD/JPY Y79.00, Y79.75, Y80.00

EUR/GBP stg0.8000

AUD/USD $0.9900

USD/CAD C$1.0100

EUR/USD

Offrers $1.2780, $1.2750/60, $1.2710/25

Bids $1.2650/40, $1.2625, $1.2600 

GBP/USD

Offers $1.6020, $1.6000, $1.5950/55, $1.5900/10, $1.5850

Bids $1.5755/50, $1.5720, $1.5700, $1.5680, $1.5650, $1.5600

Resistance 3: Y80.55/60 (area of high of May)
Resistance 2: Y79.90 (МА (200) for Н1)
Resistance 1: Y79.50 (session high)
Current price: Y79.38
Support 1: Y79.10 (session high)
Support 2: Y78.55 (МА (200) for D1)
Support 3: Y78.20 (earlier resistance, area of high of December’2011 and January’2012)

Resistance 3: Chf0.9600 (area of high of January)
Resistance 2: Chf0.9540 (top border of upchannel from May 1)
Resistance 1: Chf0.9500 (session high)
Current price: Chf0.9460
Support 1: Chf0.9430 (bottom border of upchannel from May 1)
Support 2: Chf0.9410 (May 16 low)
Support 3: Chf0.9330 (May 15 low)

Комментарии: пара продолжает тестировать линию сопротивления от ноября 2010 года. Для ее преодоления паре необходимо закрыть неделю выше уровня Chf0,9440. На D1 индикатор RSI поднялся выше отметки 70 пунктов, что является сигналом перекупленности и указывает на высокие шансы начала коррекции.

Resistance 3 : $1.5990 (intraday high on May 16)

Resistance 2 : $1.5930 (May 17 high)

Resistance 1 : $1.5820 (session high, МА (200) and МА (100) for Н1)

Current price: $1.5786

Support 1 : $1.5730 (session low)

Support 2 : $1.5700 (psychological level)

Support 3 : $1.5600 (psychological level, low of March)

Resistance 3 : $1.2870 (May 15 high)
Resistance 2 : $1.2750 (May 16-17 high)
Resistance 1 : $1.2700 (area of session high and resistance line from May 11)
Current price: $1.2690
Support 1 : $1.2640 (session low)
Support 2 : $1.2620 (low of January)
Support 3 : $1.2600/90 (low of August’2008)

Комментарии: на D1 индикатор RSI упал ниже отметки 30 пунктов, что является сигналом перепроданности и указывает на высокие шансы начала коррекции. Кроме того, пара приблизилась к области сильной поддержки $1,2620/590.

EUR/USD $1.2670, $1.2700, $1.2900, $1.2615-1.3615

USD/JPY Y79.00, Y79.75, Y80.00

EUR/GBP stg0.8000

AUD/USD $0.9900

USD/CAD C$1.0100

Yesterday the yen extended its gain against the dollar after data showed U.S. jobless claims for unemployment benefits were unchanged last week and another report showed Philadelphia- area manufacturing decreased in May.

The euro fell to a four-month low as Spain’s borrowing costs rose at an auction, stoking concern that the region’s financial contagion is spreading from Greece.

Europe’s shared currency declined against most of its major counterparts as the European Central Bank said it will temporarily stop lending to some Greek banks.

Spain sold bonds due in January 2015 at an average yield of 4.375%, compared with 2.89% when they were last auctioned in April. Investors bought bonds maturing in July 2015 at 4.876%, compared with 4.037% on May 3 and bonds due April 2016 at 5.106%.

Moody’s Investors Service is set to downgrade the credit ratings of Spanish banks.

The pound was down after the published yesterday quarterly inflation report the Bank of England, in which the British central bank has lowered projections for economic growth in the country and raised its forecast for inflation. Against this background of increased market participants' expectations regarding the continuation of the Bank of England policy of quantitative easing.

EUR/USD: yesterday the pair fell, updated monthly low.

GBP/USD: yesterday the pair fell to a figure, lowered below $1.5800.

USD/JPY: yesterday the pair fell to a figure, lowered below Y79.50.

European data starts at 0600GMT with Germany PPI. At 1000GMT, ECB Executive Board member Jose Manuel Gonzalez-Paramo is due to give a lecture on "Perspectives from the ECB", in London. Ahead of the weekend, G8 leaders meet at Camp David outside Washington.

Resistance 3: Y80.20 (May 16 low)

Resistance 2: Y80.00 (psychological level)

Resistance 1: Y79.65 (May 14 low)

The current price: Y79.45

Support 1: Y79.10 (May 17 low)

Support 2: Y78.70 (Feb 15 high)

Support 3: Y78.15 (Feb 15 low)

Resistance 3: Chf0.9525 (Jan 16 low)

Resistance 2: Chf0.9495 (Jan 18 high)

Resistance 1: Chf0.9480 (May 17 high)

The current price: Chf0.9474

Support 1: Chf0.9440 (May 15 high)

Support 2: Chf0.9410 (May 16 low)

Support 3: Chf0.9375 (high of the Asian session on May 15)

Resistance 3 : $1.5885 (May 16 low)

Resistance 2 : $1.5840 (high of the American session on May 17)

Resistance 1 : $1.5795 (session high)

The current price: $1.5759

Support 1 : $1.5750 (Mar 13 high)

Support 2 : $1.5695 (Mar 16 low)

Support 3 : $1.5635/45 (area of Mar 14-15 low)

Resistance 3 : $1.2815 (low of the Asian session on May 15)

Resistance 2 : $1.2760 (May 16 high)

Resistance 1 : $1.2735 (high of the American session on May 17)

The current price: $1.2675

Support 1 : $1.2665 (May 17 low)

Support 2 : $1.2650 (Jan 17 low)

Support 3 : $1.2625 (low of Jan)

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,2681 -0,27%

GBP/USD $1,5780 -0,82%

USD/CHF Chf0,9469 +0,27%

USD/JPY Y79,32 -1,27%

EUR/JPY Y100,59 -1,55%

GBP/JPY Y125,16 -2,12%

AUD/USD $0,9888 -0,23%

NZD/USD $0,7632 -0,13%

USD/CAD C$1,0196 +0,74%

00:00 G8 G8 Meetings -

06:00 Germany Producer Price Index (MoM) April +0.6% +0.4%

06:00 Germany Producer Price Index (YoY) April +3.3% +2.5%

12:30 Canada Consumer Price Index m / m April +0.4% +0.3%

12:30 Canada Consumer price index, y/y April +1.9% +1.9%

12:30 Canada Bank of Canada Consumer Price Index Core, m/m April +0.3% +0.3%

12:30 Canada Bank of Canada Consumer Price Index Core, y/y April +1.9% +1.9%