AUDUSD: Recovery Halts, Weakens AUDUSD: The pair now faces bear pressure as a further attempt at building on its recovery started from the 1.0439 has stalled at the 1.0754 level. The risk of this development if a return above the 1.0754 does not occur will mean possible lower prices towards the 1.0439 level with a … “AUD/USD and USD/CHF Technical Analysis”
Month: May 2011
AUD/USD: Trading the Australian GDP May 2011
Expectations are very low for Australia’s Q1 GDP: a first contraction of the economy in over two years. This broad measure of the economy will rock the Aussie on any result. Here are the details and 5 expected outcomes for AUD/USD. Published on Wednesday at 1:30 GMT. Indicator Background Australia’s economy never went into a … “AUD/USD: Trading the Australian GDP May 2011”
Small Spanish Banks Lean on ECB Once Again
Spain managed to decouple itself from Portugal, Ireland and Greece, but its banks are still struggling. The bigger banks are doing well, and the smaller ones were riding on their success. Well, the ride may be over. In 2011, 16 billion euros of Spanish bank debt is maturing. 8 billion is already covered. This half … “Small Spanish Banks Lean on ECB Once Again”
South Korean Won Gains as Worries About Greece Eases
The South Korean won rose today against the US dollar as speculations that Greece will receive aid increased demand for higher-yielding assets. The South Korean Kospi index rose 2.3 percent as Asian stocks gained. Jean-Claude Juncker, Prime Minister of Luxembourg, said that European Union officials will make decision on a new bailout for Greece by the end of June. South Korea’s factory production rose 6.9 percent in April from … “South Korean Won Gains as Worries About Greece Eases”
New Zealand Dollar Surges to Record on Business Confidence
The New Zealand dollar jumped today against its US counterpart to the all-time high as business confidence improved to the highest level in almost a year, boosting outlook for interest rates. The National Bank of New Zealand reported today that 38 percent of businesses expect better times for the economy over the coming year, compared to 14.2 percent in April. That was the highest level of confidence since June 2010. The Credit Suisse index showed … “New Zealand Dollar Surges to Record on Business Confidence”
USD/CHF: Trading the Swiss GDP
Many see the Swiss franc only as a safe haven currency. With the GDP release, we get the broadest measure of the economy. The release will rock the Swiss franc that is at all time highs against the dollar. Here are the details and 5 scenarios for USD/CHF. Published on Tuesday at 5:45 GMT. Indicator … “USD/CHF: Trading the Swiss GDP”
USD/CHF Bearish Impulse Targeting 0.83
Swiss franc has been acting very strong for the past few days, since majors, such as Euro, Pound and Australian dollar found support against the US dollar. Notice that Usd/Chf reversed sharply on the downside at the end of a trading week, as pair was unable to gain above the daily falling channel resistance line. … “USD/CHF Bearish Impulse Targeting 0.83”
GBP/USD and USD/CHF Technical Analysis
GBPUSD: Strengthens, Bullish Into The New Week GBPUSD: The pair ended the week strongly higher breaking through the 1.6301 level, its May 20’2011 high to follow through higher on its previous week gains. This development now leaves GBP targeting its nearby resistance at the 1.6516 level, its May 11’2011 high where a decisive violation will … “GBP/USD and USD/CHF Technical Analysis”
Hard Week for Dollar as US Economy Stalls
The US dollar dropped this week against most major currencies as the macroeconomic data was terrible, reducing attractiveness of the currency as a safe asset. The global economic situation wasn’t very favorable for the dollar. The influence of the European crisis on market sentiments weakened somewhat, higher-yielding assets are again in favor of investors, erasing appeal of safe currencies. Without the support from outside of the US the dollar could only rely on the new from America. And the news … “Hard Week for Dollar as US Economy Stalls”
Does the Arrest of DSK Prevent Greek Restructuring?
The arrest of former managing director of the IMF Dominique Strauss-Kahn in New York may have changed the course of events regarding the Greek crisis. With Christine Lagarde as the head of the IMF, things are likely to be quite different for Greece. Here is the amazing timeline of events: Greek situation deteriorates April 26: … “Does the Arrest of DSK Prevent Greek Restructuring?”