From Forex 5:49 am
On Wednesday Euro/Dollar traded within 80 pip range. The European currency appreciated from 1.2680 to 1.2759 yesterday, not matching the negative money flow sentiment at nearly -11%, closing the day at 1.2713. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now.
From Forex 3:42 am
The euro wallowed near a four-month trough versus the dollar Thursday after some banks in Athens faced emergency funding needs, compounding fears that a potential Greek exit from the euro could put more pressure on other struggling euro zone nations.
From Forex 2:10 am
The Aussie found support just below 99.00 today after selling off over 500 pips over the previous 3-weeks.
From Politics & Policy 1:53 am
Bell FX Currency Outlook: The AUD is trading just above USD0.9900 this morning after falling to a low close to USD0.9870 overnight.
From Politics & Policy 1:01 am
True to recent form, Greece remained the primary directive overnight for currencies overnight with the global bid for safety promoting losses across the risk spectrum.
From Forex 8:02 pm
"Several members indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the downside risks to the forecast became great enough". This is just rhetoric, and actually not as strong as we saw in the previous minutes where stimulus was suggested.
From Forex 6:31 pm
The prevailing view amongst Keynesians is that the austerity measures being taken in Europe to prevent a complete currency and bond market collapse is the cause of their current recession. But blaming a recession on the idea that an insolvent government was finally forced into reducing its debt is like blaming a morning hangover on the fact that you eventually had to stop drinking the night before.
From Forex 6:29 pm
The dollar is evenly mixed this morning against its major counterparts as the continued stream of positive economic data out of the US offsets some of the ongoing European fears. Housing starts came in better than expected as builders broke ground on 717K new homes, erasing the previous month's shortfall. Industrial production also surprised to the upside, coming in at +1.
From Forex 3:47 pm
The British Pound tumbled to a fresh monthly low of 1.5888 as the Bank of England kept the door open to expand monetary policy further, and the sterling may face additional headwinds over the near-term as the spillover effects from the sovereign debt crisis dampens the outlook for the region.
From Forex 3:42 pm
Dollar-Swiss is not gaining strength to rise past its Resistance at 0.9460. At the same time we do not see much downside momentum as well. Our overall bullish view remains the same. We see Support at 0.9400 which is expected to hold. On the upside a strong rise past 0.9460 can open doors for fruther rally to 0.9800-9900 or even higher.
We value your privacy. Your email address will not be shared.
