Daily Review: August 21, 2012

Asian stock markets trading takes place today (Tuesday) in prices increase after stable closing on Wall Street last night, when the East indices approached the peak of three months, and with waiting to U.S. macro data and anticipation of monetary process of the European Central Bank - after a report that the European Central Bank may set an upper threshold to the margins of government bonds in Europe.

If investors will continue to sell Italian and Spanish bonds and yields will continue to rise - European Central Bank will have to intervene and make purchases of government bonds itself.

As of this hour, Wall Street futures signal positive opening in the U.S.

The MSCI Asia Pacific index, which is a Benchmark in Eastern markets, advanced today by about 0.5% (and registers an increase of 3 consecutive weeks), due to the rising hopes that the Chinese central bank will make monetary moves soon, due to the slowdown in the country.

During the weekend , the Chinese Premier announced that "conditions are right and we have the ability to make monetary ease.”

Meanwhile, Greek Prime Minister, Antonis Samaras, expected to meet this week the European leaders in an attempt to alleviate the budgetary commitments and reforms of government.

Tomorrow (Wednesday) Samaras will meet Jean - Claude Junker, prime minister of Luxembourg, who also heads of the Conference of Finance Ministers of the eurozone.

Two summits of European leaders are expected next month to decide about the rescue plans for Greece and Spain – where Spain, need to repay bonds worth 24 billion euros in October.

Dow 0.03% ↓ S&P 0.00% NSDQ 0.01%↓

EUR/USD
EUR/USD trading at 1.2357 an increase of 0.11% in writing.

The pair may find support at 1.2288 Friday low and resistance at- 1.2381 Friday high.

Meanwhile, the Euro gained strength against the British Pound and against the Japanese Yen, when the -EUR/GBP add a 0.07% to 0.7863 and –EUR/JPY add 0.07% to 98.11.
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GBP/USD
The British Pound gained strength against the U.S Dollar today, trading at 1.5731 an increase of 0.16%.

The pair may find support at 1.5701 today low and resistance at 1.5742 Thursday high.

Meanwhile, the British Pound weakened against the Euro and against the Japanese Yen, while the EUR/GBP added a 0.07% to 0.7863 and the GBP/JPY dropped 0.01% to 124.73.
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USD/CAD
The U.S Dollar weakened against the Canadian Dollar today, trading at 0.9871 a decrease of 0.15%.

The pair may find support at 0.9858 Thursday low and resistance at 0.9900 Monday high.

Meanwhile, the U.S Dollar weakened against the Euro and against the British Pound, while the EUR/USD added 0.11% to 1.2357 and the GBP/USD added 0.16% to 1.5731.
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WTI- Crude Oil
The WTI gain strength today, trading at 96.52 a decrease of 0.49%.

May find support at 69.03 today low and resistance at 96.78 Monday high.