The Euro led major currencies lower against the US Dollar amid circulating rumors that a widening rift between the government in Athens and that of Germany will see Greece turn to the International Monetary Fund for aid over the Easter weekend.
Written by admin on March 17th, 2010 with no comments.
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GBP/USD: Technically, the break back above 1.5195 last Friday has triggered a major double bottom formation that would now project additional upside back towards the 1.5600 area over the coming days.
Written by admin on March 17th, 2010 with no comments.
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USD/CHF: The rally has finally stalled out for now ahead of 1.0900, with the market in the process of correcting from overbought levels.
Written by admin on March 17th, 2010 with no comments.
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USD/JPY: Has been very well supported on dips towards 88.00, and we look for the most recent sharp rebound to open additional upside over the coming weeks back above critical medium-term resistance at 93.75. The latest impressive rally from 88.00 reaffirms our outlook and only a close back under 88.00 would ultimately negate and give reason for pause.
Written by admin on March 17th, 2010 with no comments.
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AUD/USD: Despite the surge back above 0.9200, we retain a bearish bias and look for the market to top out somewhere in the 0.9200’s ahead of a major bearish resumption.
Written by admin on March 17th, 2010 with no comments.
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EUR/JPY: Has been very well supported by psychological barriers at 120.00, with the cross in the process of correcting over the past few sessions.
Written by admin on March 17th, 2010 with no comments.
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BEIJING, March 18 (Reuters) - China should consider a tax on foreign exchange transactions to curb hot money flows, an adviser to the bank regulator said in remarks published on Thursday. Andrew Sheng, chief adviser to the China Banking Regulatory Commission, said the purpose of the tax was not to increase transaction costs but to identify who was speculating in the currency market, the China ...
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Dollar Recovers its Footing after Risk Appetite Encourages a Quick Drop to a Six Week Low Still riding off the buoyancy found in the EU’s vows to support Greece and the Fed’s anchoring of the benchmark lending rate at its record lows, investor sentiment continued its climb Wednesday.
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This past week, risk appetite found a temporary foothold and the timetable for a rate hike from the Federal Reserve was pushed back. However, despite this usually ruinous combination of events, the US dollar has not come under fervent selling pressure.
Written by admin on March 17th, 2010 with no comments.
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Riding on the momentum of yesterday’s impressive reversal, the active NYMEX crude futures contract was able to fully compensate for its Friday/Monday losses and subsequently push the market back to its $83, two-month high.
Written by admin on March 17th, 2010 with no comments.
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