EUR/USD Technical Analysis
Next week EUR/USD will probably try to test 1.3121 level as long as we don’t sink below 1.2820 area. If we get very good news from the eurozone, we may even see 1.3260. if the pair fails to stay above 1.2965 level the outlook will remain bearish and we may be back [...]
Weekly Commitment of Traders Report
The Commodity Futures Trading Commission, or CFTC, publishes the Commitment of Traders report (COT) every Friday. The COT report reveals the net long and short positions taken by speculative traders and commercial traders, it is an excellent resource to gauge how heavily these big pockets are positioned in [...]
Services today announced its rating actions on 16 members of the European Economic and Monetary Union (EMU or eurozone) following completion of its review.
We have lowered the long-term ratings on Cyprus, Italy, Portugal, and Spain by two notches; lowered the long-term ratings on Austria, France, Malta, Slovakia, and Slovenia, by one notch; and affirmed [...]
Positive Data from China and Germany Lifts Euro
The Institute for Supply Management’s factory index climbed to 53.9 last month from 52.7 in November. The report shows that U.S. factories expanded in December at the fastest pace in six months. Chief economist at RBC Capital Markets, Tom Porcelli said “Global [...]
EU Leaders Want ECB and IMF to Play a Bigger Role
Yesterday EUR gained some strength after Eurozone finance ministers agreed to create certificates that could guarantee as much as 30% of new issues from troubled eurozone governments and to create investment vehicles that would boost the EFSF’s firepower to [...]
Dollar Strengthens, Euro Touches $1.3305
During the Asian session, EUR fell to a seven-week low against the greenback (1.3305, the lowest since October 6) as European officials failed to soothe investor fears that the euro zone’s debt crisis could trigger a credit crunch if funding costs run out of control. USD gained against [...]
Widening Eurozone Crisis Pushes EUR/USD Lower
EUR is trying to recover from its lowest levels this month after hurt by a worrying German bond sale and expectations that mounting European debt concerns will continue to pressure markets.
Asian stock markets opened lower slightly lower today. NIKKEI started the [...]
USD Gains on Europe Concerns
Weaker than expected Chinese manufacturing survey and downward revision of U.S. GDP data renewed worries about faltering global growth. The euro declined for the sixth time in eight days against the U.S. dollar as investors think that overall the eurozone economy is looking weak and trending weaker.
FOMC Meeting Minutes
Worries about the global economy outlook are increasing as the lack of progress in dealing with heavy debt both in the United States and Europe dominates the headlines. In Europe, the ECB reportedly purchased Italian and Spanish debt yesterday. In the U.S., the “Super Committee” apparently has failed at its [...]
ECB is Under the Pressure
Asian stock markets opened lower slightly lower as doubts deepened about Europe’s ability to stop its sovereign debt crisis from spinning out of control, with the region’s biggest nations split over the European Central Bank’s bond buying role. NIKKEI started the day at 8,421.88, previous close was 8,463.16. [...]
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