BITCOIN 1156.244 13:00 25.02 EUR/USD 1.05620 13:00 25.02 EUR/USD 1.05620 12:40 25.02 EUR/USD 1.05620 12:30 25.02 Saudi Arabian Refineries 37.250 12:20 25.02 BITCOIN 1156.090 12:00 25.02 EUR/USD 1.05620 12:00 25.02 EUR/USD 1.05620 11:40 25.02 EUR/USD 1.05620 11:30 25.02 BITCOIN 1154.989 11:00 25.02 EUR/USD 1.05620 11:00 25.02 EUR/USD 1.05620 10:40 25.02 EUR/USD 1.05620 10:30 25.02 BITCOIN 1152.253 10:00 25.02 Saudi Arabian Refineries 37.250 10:00 25.02 EUR/USD 1.05620 10:00 25.02 EUR/USD 1.05620 09:40 25.02 EUR/USD 1.05620 09:30 25.02 BITCOIN 1155.880 09:00 25.02

Weekly Market Review

Weekly market overview – 06/29/2015

The notorious Greek crisis went from optimism to despair and all the way around. Things deteriorated after the markets closed with a dramatic announcement on a referendum in Greece after the deadline.

US economic data were mostly positive, the housing sector is in a growth trend due to the constant improvement in the job market and employment conditions. The number of purchases of new U.S. homes is in his strongest pace since February 2008, rising 24% on a yearly base.

For the EUR/USD pair it has been quite an intense week the one we left behind, spiked up to 1.1380 before sliding down. In the 1.1400 area there’s resistance of a trend line which is almost a year old.

As markets hone their focus in on Greece this week, beginning immediately with the emergency meeting on Monday to the June 30 deadline next Tuesday, traders at the minimum should expect volatility to appear more significantly in markets.

Gold back down on Thursday extending a recent slump, amid strong U.S. consumption data and a lack of progress in Greek Debt negotiations. On Thursday morning, the U.S. Department of Commerce said consumer spending surged in May by 0.9%, the highest monthly gain in nearly six years and above expectations for a 0.7% rise. Bolstered by a 0.5% spike in personal income, the surge reflects an increase in consumer spending in auto purchases and retail goods. Elsewhere, initial jobless claims remained near historic lows even as the level increased by 3,000 last week to 271,000. More critically, the four-week average fell by 3,250 to 273,750 moving lower from monthly averages throughout the spring

Key Market data this week:

Monday – June 29th:

14:00-USD: Pending Home Sales

Tuesday – June 30th:

07:55 -EUR: Germany Unemployment Change
08:30 – GBP: GDP.

Wednesday – July 1st:

All-day-NZD- Queen’s Birthday
01:00 – CNY: Manufacturing PMI.
08:30 – GBP: Manufacturing PMI.

Thursday July 2nd:

Friday- July 3rd:

All-day – USD: Independence Day, market holiday.