European stocks are higher today, and helped some major currencies to hold the support against the US dollar. Over the past few sessions we could also saw some of Eur recovery, supported by the comments coming from Japan which may buy 20% of euro zone bonds in this month to help the Europe in debt … “EUR/USD-Selling The Pull-backs (Elliott Wave)”
Author: admin_mm
Loonie Pares Losses vs. Greenback on Rally of Commodities
The Canadian dollar pared losses against its US counterpart today as the rally of commodities outweighed the impact of the increasing concerns about the fiscal crisis in the European Union. Today’s rally of commodities was very favorable for the loonie, as the Canadian currency is often nicknamed, because about half of Canada’s export revenue comes from raw materials. The Thomson Reuters/Jefferies CRB Index of raw materials rose 0.9 percent to 326.85 after it tumbled … “Loonie Pares Losses vs. Greenback on Rally of Commodities”
Video – EUR/USD, GBP/USD, USD/JPY and Key Events
In the weekly interview on Forex TV, I spoke about the main events facing us this week, the upcoming bailout for Portugal and also discussed three pairs:EUR/USD, GBP/USD and USD/JPY. This includes technical levels and the events that have an impact on them. Enjoy! The pressure is mounting on Portugal to take a bailout. The … “Video – EUR/USD, GBP/USD, USD/JPY and Key Events”
Dollar Takes Break After Rally as Stocks & Commodities Rebound
The US dollar declined today as commodities and stocks rebounded after the last week’s slump, decreasing the demand for the greenback as a safe haven. The Standard & Poorâs 500 Index went down 0.3 percent, following the previous decline by 0.7 percent, while the Reuters/Jefferies CRB Index of raw materials advanced as much as 0.8 percent. The dollar weakened against the euro on the speculation that Germany, which previously strongly opposed the proposal to expand the â¬750 billion … “Dollar Takes Break After Rally as Stocks & Commodities Rebound”
Euro May Strengthen, But Not in 2011
The euro experienced a staggering slide in 2010, but it wasnât as impressive as many pessimistic forecasts would let us believe. Still, the debt problems in the European Union persist and the crisis is spreading, therefore 2011 doesnât look like a very good year for the shared European currency. The potential problems in the so-called PIIGS countries (Portugal, Ireland, Italy, Greece, and Spain) have grown into a full-fledged crisis, which tends to spread across … “Euro May Strengthen, But Not in 2011”
Decline of House Prices Undermine British Pound
The Great Britain pound went down today after the House Price Index of the Halifax Bank of Scotland dropped in December more than the analysts expected. Halifax HPI fell 1.3 percent from November to December, following the 0.2 percent decline. The experts predicted the drop by 0.3 percent. The report said about signs of the potential stabilizing of the housing market, but “uncertainty about the economy, weak earnings growth and higher taxes could put … “Decline of House Prices Undermine British Pound”
Portugal Bailout – 7%Yields Mark the No Return Point?
Portugal is under pressure to take a bailout, despite denying it. Portuguese bond yields traded in a choppy manner, as the Euro dropped lower. Tracy Alloway, at Alphaville, reminds us of the previous bailouts through charts – 7% yields on ten year notes were the point of no return. Portuguese bonds already passed this mark … “Portugal Bailout – 7%Yields Mark the No Return Point?”
Demand for Safety Drives Swiss Franc Higher
The Swiss franc rose for the third consecutive day versus the euro and strengthened against the US dollar today as the concerns about the financial problems of the Eurozone countries drive the investors to the safety of the Swiss currency. The gap between yield investors demand on the Portuguese 10-year bonds and the German bunds widened last week most since November. Portugal is going to auction its debt today. The concerns about the ability of the country to raise funds caused the speculation … “Demand for Safety Drives Swiss Franc Higher”
A Quick 50 Pips Off The NFP – What Can We Learn From It?
Guest post by NewstraderFX My trade room made a quick 50 pips trading Friday’s NFP report and here’s how it was done. Plan For Different Scenarios. This involves understanding what the overall bias in price movement will be if the report is worse, equal, or better than the expected number. In this case, my opinion was … “A Quick 50 Pips Off The NFP – What Can We Learn From It?”
US Dollar Rallied This Week, Stalled on Poor Employment Reports
This week was very positive for the US dollar as the US economy showed the signs of the sustainable growth, but the end of the week spoiled the positive sentiment to some degree as the labor market wasn’t as strong as was expected. The beginning of this week was very bright for the US currency as every report showed the improvement of the economy. The report of the Automatic Data Processing, Inc. on Wednesday showed the significant growth of the employment, causing the optimistic outlook for the other employment … “US Dollar Rallied This Week, Stalled on Poor Employment Reports”