The whole price structure on Aud/Usd looks very bullish since the market formed a three wave corrective decline from November highs, followed by a five wave reversal labelled as a red wave 1), which definitely confirms a bullish trend. For the last couple of days the pair was consolidating between 0.9800 region and parity level, … “Elliott Wave: Aud/Usd Ready To Gain Above Parity!?”
Author: admin_mm
Yen Tumbles vs. Euro on Signs of Recovery, Rises vs. Dollar
The Japanese yen fell today against the euro as the signs of the economic recovery decreased the demand for the currency as the safe haven and as the European Union may find the way to deal with its debt crisis. The yen advanced against the US dollar. The MSCI Asia Pacific Index of regional shares advanced 0.4 percent. The EU leaders will end today the summit in Brussels, which began yesterday. They agreed to create the permanent crisis-management mechanism by 2013. … “Yen Tumbles vs. Euro on Signs of Recovery, Rises vs. Dollar”
German Business Climate Improves, Euro Advances
The euro rose today against the US dollar for the second day as the European leaders agreed on the mechanism to prevent the financial crises and as the business climate in Germany improved. The European Central Bank said that it’d increase capital by â¬5 billion ($6.7 billion) to â¬10.76 billion by the end of this year. The Ifo Business Climate indicator rose from 109.3 in November to 109.9 in December, while the analysts predicted the small decline to 109.2. EUR/USD rose from … “German Business Climate Improves, Euro Advances”
British Pound Gains as Retail Sales Expands & Inflation May Rise
The Great Britain pound jumped today after the reports showed that Britain’s retail sales expanded and the UK consumer inflation expectations increased, suggesting that Britain’s economy performs not that bad. The retail sales volume increased by 0.3 percent between October and November, following the 0.7 percent growth in October from September. The Bank of England/GfK NOP Inflation Attitudes Survey showed that the median expectations for the rate of the inflation over … “British Pound Gains as Retail Sales Expands & Inflation May Rise”
Dollar Rises as US Economy Strengthens
The US dollar rose today, erasing previous decline, against the euro and the Japanese yen after the US macroeconomic reports posted another set of good results and as the concerns for the health of Europe’s economy increased the attractiveness of the currency as the safe haven. The manufacturing index of the Federal Reserve Bank of Philadelphia increased unexpectedly from 22.5 in November to 24.3 in December. The claims for the unemployment benefits declined from 423,000 to 420,000 last week. The housing starts declined from … “Dollar Rises as US Economy Strengthens”
The EU Summit And The EUR
In recent days the EURUSD exchange rate has fallen owing to reports from Spain that investors stayed away at its recent bond auction, and concerns that credit rating agency Moody’s could downgrade Spanish debt. The EU summit today though is intended to address these concerns and assure the markets that Spain (among other EMU nations) … “The EU Summit And The EUR”
SNB Keeps Interest Rates Near Zero, Franc Drops
The Swiss franc weakened today after the central bank left the interest rates unchanged and before the meeting of the European Union leaders, who are going to discuss the possible actions to deal with the European debt crisis. The Swiss National Bank kept the London Interbank Offered Rate (Libor) unchanged “within the lower part of the target range at around 0.25%”. Philipp Hildebrand, Chairman of the Governing Board of the SNB, said on the press conference: Growth in Switzerland … “SNB Keeps Interest Rates Near Zero, Franc Drops”
South Korean Won Pares Losses
The South Korean won rose today, paring previous losses, after the currency fell to the lowest level in two weeks as the exporters are preparing to convert their overseas earnings before the end of the year. The won dropped earlier after the government said that it’s planning to impose the levy on the overseas borrowing. The currency also gained on the signs of the economic recovery, including the growth of the department-store sales, which posted the increase by 10.1 percent in November, following … “South Korean Won Pares Losses”
Loonie Goes Up as Canadian Economy Looks Better than European
The Canadian dollar strengthened on the speculation that the financial crisis in the Europe may worsen and after the proposed tax cuts were accepted by the US Senate. The US Senate passed the $858 billion tax cut plan, offered by the President Barack Obama, which should bolster the economy of the US, the biggest trading partner of Canada. The resulting optimism about the US economy spilled over into the Canadian economy. Europe still remains in the focus of the news, and its … “Loonie Goes Up as Canadian Economy Looks Better than European”
EUR/USD Falling Constantly – Serious Support Close
EUR/USD is losing ground, hour by hour, pushed by rising US yields and on the eve of the EU Summit. Only a dramatic announcement will stop the bleed. Update Euro/Dollar is just above 1.32 at the end of the day in the US. Since the US session began, the common currency dropped constantly, losing over … “EUR/USD Falling Constantly – Serious Support Close”