The euro continued to drop today versus its main trading partners currencies and is going to post another weekly decline as concerns regarding the region’s growing budget deficit are still far from a solution, raising aversion towards assets in the region. After Fitch Ratings downgraded Portugal’s credit rating and concerns in Greece continued to haunt European markets, the euro declined to the lowest level in 10 months versus the U.S. dollar, losing … “Greece, Portugal, Trichet, All Against the Euro”
Month: March 2010
GBP/JPY at Crossroads
GBP/JPY is in a collision course between an uptrend and a downtrend. As both the pound and the yen are losing to the dollar due to each country’s internal problems, the technicals will speak. GBP/JPY uptrends and downtrends. Click to enlarge: GBP/JPY was trading in an uptrend during February and it traded around 143.50 at … “GBP/JPY at Crossroads”
Euro Bleeds with Portugal Downgrade
The euro declined versus all of the 16 main traded currencies this Wednesday as Portugal started to raise concerns strongly, after an important financial agency cut its credit rating for the first time, showing that hard times are still to come for the Eurozone. Fitch Ratings lowered Portugal’s credit rating one step to AA- with a negative outlook, considering more credit rate cuts to come during this year or the next, … “Euro Bleeds with Portugal Downgrade”
EUR/CHF at All Time Low – Massive Intervention Underway?
EUR/CHF is trading in the lowest level ever. Technicians will see it going further down, but the SNB might force it to go in the other direction. Will we see EUR/CHF rock on Friday? Updates on this cross. EUR/CHF is now trading at 1.4244, the lowest level this pair ever traded in. It broke below … “EUR/CHF at All Time Low – Massive Intervention Underway?”
Canadian Dollar Retrieves Bullish Path
The Canadian dollar advanced for the first time this week this Tuesday, as markets with strong correlation with the loonie provided support for the currency to gain specially versus its U.S. counterpart, but as well as important currencies globally. After the loonie traded near parity with the greenback last week, the currency experienced a considerable fall as traders considered the rally excessive, specially after the crude oil ended the strongest rally in 2010 towards … “Canadian Dollar Retrieves Bullish Path”
Euro: Who Will Rescue Greece?
The European single currency declined sharply in a day of strong volatility this Thursday as neither Greek officials nor ECB officials have found a solution to solve Greece’s budget deficit’s issues, in a drama that have been lasting more than traders in the region could expect. Today, after important European leaders from multiple nation’s using the euro affirmed that a bailout for Greece would need the International Monetary Fund support, … “Euro: Who Will Rescue Greece?”
Healthcare Reform Weighs on the US Dollar
The healthcare reform passed the final hurdle in the American House of Representatives. I’m not going to enter the heated debate about the reform – I’m just going to deal with the implications for forex trading. There are different sides to this story: The Upside – Strong Government The historic healthcare overhaul is a great … “Healthcare Reform Weighs on the US Dollar”
Dollar Ends Week Advancing on Uncertainties
The U.S. dollar together with the Japanese yen were the top performers in currency markets before the end of this week’s trading session as multiple events worldwide set risk aversion to higher levels, as the news released today indicated negative surprises for financial markets’ investors. The Dow Jones Industrial Average fell for the first day in almost two weeks today, in a day were pessimist reigned and commodities and equities fell globally, bringing investors … “Dollar Ends Week Advancing on Uncertainties”
Recession’s Return Sets Pound Down
The pound lost today versus multiple important currencies as both the domestic and the international market scenarios were rather pessimist before the end of this week’s session, setting the pound to plunge once again paring the advances earned during the middle of the week. The economic situation in England is really having a hard time to pick up, and today, after Bank of England policy maker Andrew Sentance affirmed today that the United Kingdom may … “Recession’s Return Sets Pound Down”
Loonie’s Rally Ends on Oil Drop
The pessimism returned to financial markets today as European economic problems made the headlines once again in most financial websites this Thursday. Markets that influence the loonie, as the crude oil and other raw materials slid, affecting also the loonie’s advance. The Canadian dollar ended today its longest winning streak in more than five years and pessimism rose in Europe, spreading later on to a global scale, which affected appeal for stocks and commodities … “Loonie’s Rally Ends on Oil Drop”