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Market News by FxNet 25/Jun

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1 Market News by FxNet 25/Jun on Thu Jun 25, 2015 5:39 am

The Euro was majorly affected by Greece’s meeting with its creditors that ended in a rejection of the proposal due to differences. Greece is ever close to the June 30th deadline by which it has to reach a deal to unlock funds and repay the International Monetary Fund (IMF) loan to avoid defaulting on its debt.

The Euro lost 0.18 percent against the yen and the EUR/JPY pair fell from 138.76 (Late Wednesday’s number) to 138.50. Even against the Japanese Yen the Euro was weaker and the EUR/JPY pair fell from 138.76 (Late Wednesday’s number) to 138.50.

The U.S. dollar was slightly weaker than the Japanese yen the USD/JPY pair fell to 123.56.

Against the British pound the dollar was also stronger and the GBP/USD pair lost 0.11 percent and traded at 1.5716.

The USD/CHF pair lost 0.11 percent and fell to 1.5716, the AUD/USD lost 0.54 percent and was at 0.7695.

The U.S. dollar index which measures the greenback against a basket of six currencies was slightly higher at 95.53.

Brent Crude for August delivery added 2 cents and was at 63.51 dollars a barrel.

“For today we continue to expect prices to move sideways with a strong resistance at 61.80 dollars and 65 dollars for West Texas Intermediate (WTI) and Brent, and support 50 dollars and 62.38 dollars” said Phillip Futures in a note.

Gold futures for August delivery added 0.26 percent on the Comex of the New York Mercantile Exchange and were at 1,176.00 dollars a troy ounce during Thursday’s morning European Trading hours. It was expected to find support at 1,162.10 dollars and resistance at 1,200.80 dollars.

Elsewhere on the Comex silver futures for July lost 0.08 percent and were at 15.84 dollars a troy ounce and Copper for July delivery lost 0.27 percent and was at 2.618 dollars a pound.

MSCI’s index of Asia Pacific shares outside Japan lost 0.3 percent. Japan’s Nikkei Stock index lost 0.5 percent. On Wednesday optimist around the Greek situation had pushed the index close to its t 20 year high.

European shares were also dimmed with Britain’s FTSE 100 opening 11 to 12 points lower, Germany’s DAX was expected to lose 41 points and France’s CAC 40 to lose 19 points.

On Thursday the FTSEurofirst 300 lost 0.5 percent and was at 1,569.82 points, Hennes & Mauritz lost 2.2 percent.
Elsewhere U.S. stock futures were higher by 0.2 percent in Thursday’s early Asian trade.

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