FOREX News and Overnight Technical Levels- August 6th

[B][U]Fundamental Headlines[/U][/B]

  • [B]AUDUSD -[/B] ANZ job advertisements for July decline by 0.5 percent on the month over month assessment. Continues downtrend from the 0.8 percent decline in the previous report. Nonetheless, consensus remains cemented on view that rates will be hiked later on in the week by the Reserve Bank of Australia.
  • [B]EURUSD -[/B] German June manufacturing orders sky rocket. Orders increase by 4.6 percent on the monthly comparison as the annualized was released much stronger at 15.9 percent. With support from foreign orders, the report lends further support for stronger export sector results throughout the year.
  • [B]GBPUSD -[/B] Manufacturing additionally rose in the month of June in the UK. Reports show as expected results - 0.2 percent in the monthly as annualized rose 0.9 percent. Results were as expected but pound sterling breaks 2.04 figure.
  • [B]Bear Stearns Removes Co-President Warren Spector[/B] from office following subprime market losses. Issue may well weigh on sector stocks as more negative results are expected in coming months.