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Euro Climbs Higher

admin — Thu, 08 Jul 2010 16:29:59 +0000

While bullish momentum seems to be slowing down on the euro, traders have a few major headlines to stay on top of over the next couple weeks. Today’s rate decision by the ECB was rather uneventful and the euro crawled slightly higher. Jean-Claude Trichet also seemed optimistic as the government View full post on Technical Analysis

Eur/Usd: Euro Seems Strong

admin — Tue, 06 Jul 2010 07:59:21 +0000

The parity made correction movements despite shallow market yesterday.Today increase potential may come back. Especially we are targeting 1,27 level on behalf of bullish market.To sum up as long as we stay above 1,2456 our first goal will be 1,2762. However if the market does not allow the feasible bullish View full post on Technical Analysis

1.2500 Now Becomes Support for the Euro

admin — Sat, 03 Jul 2010 04:31:15 +0000

The euro managed to rally rather strongly against the U.S. dollar this week. While 1.18 seems like a long time ago, the markets have now shifted towards a weaker dollar based on all of the negative housing, employment and manufacturing reports in the U.S. The daily chart above shows that View full post on Technical Analysis

Weekly Technical Update: Greenback Showing Weakness, Euro Hanging Tough

admin — Sat, 03 Jul 2010 00:07:12 +0000

There continues to be risk aversion, but the greenback is not benefiting. The greenback started the week gaining, but lost its appeal towards the end of the week. The EUR/USD reflects this volatility. The euro had some surprising strength and with broad USD weakness, the EUR/USD pair is attempting to View full post on Technical Analysis

Mid-Day Report: Euro Extends Rally as NFP Risk Cleared

admin — Fri, 02 Jul 2010 14:42:29 +0000

Euro extends rally against dollar in early US session as non-farm payroll risk is cleared. Job report in US showed -125k contraction in June, worse than but not far from expectation of -110k. Unemployment rate unexpectedly dropped from 9.7% to 9.5% comparing to expectation of 0.8%. The data had little View full post on Action Insight (All Reports)

Euro Continues To Gain Due To Little Thrust On USD

admin — Fri, 02 Jul 2010 09:42:13 +0000

Euro Zone Unemployment figures headline the economic calendar in European hours, with expectations calling for the jobless rate to hold steady at a record-high 10.1 percent in May. A pause in unemployment’s two-year advance would hardly signal brighter prospects for the region however as the coming months bring slower economic View full post on Technical Analysis

Mid-Day Report: Euro Rebounds on ECB Six Days Loan, USD/JPY Broke 88

admin — Thu, 01 Jul 2010 15:10:34 +0000

Euro rebounds strongly today on news that ECB is going to grant 78 banks EUR 111.2b of funds for six days to assist them in coping with expiry of the 12 month loan which totals EUR 442b. The announcement overshadowed downgrade risk of Spain and helped Euro extends its rebound. View full post on Action Insight (All Reports)

Mid-Day Report: Euro Rebounds after Positive ECB Tender But Lost Momentum after Disappointing ADP

admin — Wed, 30 Jun 2010 15:39:45 +0000

Euro recovered strongly earlier today after ECB said that EUR 131.9b loan will be provided to banks in the three-month tender, less than half of markets estimate of EUR 300b. The lower than expected amount was viewed as an encouraging sign that banks in Europe are not that desperate in View full post on Action Insight (All Reports)

Mid-Day Report: Swissy Franc Makes New Record High against Euro, Quiet Elsewhere

admin — Mon, 28 Jun 2010 16:39:33 +0000

Markets are generally quiet today except that Swissy Franc is lifted by comments from SNB board member Jean-Pierre Danthine and jumped to new record high against Euro. Danthine echoed recent SNB comments that "deflationary trends have practically disappeared." Also, he said that Swiss exports had proven to be robust despite View full post on Action Insight (All Reports)

FX Forecast Update: Still Some Headwind Left for the Euro

admin — Fri, 18 Jun 2010 20:36:16 +0000

The huge rescue package announced on 9 May only gave a brief boost to the euro and EUR/USD fell in the beginning of June for the first time in four years below 1.20. However, we doubt the trouble is over for the euro and now see EUR/USD testing 1.15 in View full post on Long Term Forecasts