S&P is covering some yesterday’s losses, but probably trades only in a corrective pull-back, labelled as a blue wave (iv), as a sharp decline from the 1207 shows a personality of a third wave. With this being said, a current trend remains bearish for S&P500 as long as the market trades below 1194 critical wave … “Elliot Wave Analysis – S&P500: Corrective Pull-back”
Author: admin_mm
Decline of Unemployment Claims Bolsters Pound
The Great Britain pound gained today after the jobless claims in the UK unexpectedly declined and the concerns about the Irish debt crisis spreading to other countries of the European Union increased the demand for the relative safety of the UK currency. The number of the unemployment claims in Britain fell by 3,700 from September to October. The expected reading was the growth by 5,100. The quarterly unemployment rate decreased by 0.1 percent from the previous quarter to 7.7 percent in September. GBP/USD rose … “Decline of Unemployment Claims Bolsters Pound”
Loonie Falls on Stocks, Oil & Concerns for European Debt Problems
The Canadian dollar declined today as the concerns about the sovereign debt in the European countries caused the investors’ sentiment to shift toward the risk aversion, damping the appeal of the commodities and the stocks and decreasing demand for the growth-related currencies. The futures on crude oil, Canadaâs key export, dropped as much as 3.3 percent to $82.10 per barrel, the lowest level this month. The MSCI World Index of equities in developed nations posted the decline for the seventh day, tumbling 2.1 percent … “Loonie Falls on Stocks, Oil & Concerns for European Debt Problems”
Ireland’s & Greece’s Debt Problems Continues to Weaken Euro
The euro dropped today as Ireland’s Prime Minister claimed that the nation doesn’t seek the external aid, the concerns about Greece’s debt intensified and the investors’ sentiment turned to risk aversion. Ireland continues to discuss its debt and the way out of it with the European Union and the International Monetary Fund. In the same time, Brian Cowen, the Prime Minister of Ireland, claimed that the nation doesn’t seek aid, but “a credible, efficient and above all … “Ireland’s & Greece’s Debt Problems Continues to Weaken Euro”
Fundamental Overview – Market Movers Last Week – 11/15/2010
The U.S. Dollar shot up against all the major currencies last week on renewed risk aversion due to the unstable debt situation of the financially weaker members of the European Union, with rumors about a pending Irish default swirling around the market. In addition, last week was the first week since early October that the … “Fundamental Overview – Market Movers Last Week – 11/15/2010”
South Korean Won Climbs as Central Bank Raises Interest Rates
The South Korean won rose today, as well as other Asian currencies, after South Korea’s central bank increased its interest rates for the second time this year. The Bank of Korea raised its seven-day repurchase rate by 0.25 percentage point to 2.5 percent. The concerns remain that the government would take steps to trim the inflows of the foreign funds in the nation in order to prevent the consumer prices from rising. These concerns may … “South Korean Won Climbs as Central Bank Raises Interest Rates”
Australian Dollar Drops on Outlook for Interest Rates
The Australian dollar extended its losses against the US dollar today as the Asian stocks declined and on the speculation that the central bank would pause the interest rates increases. The Reserve Bank of Australia raised the cash rate by 0.25 percentage points to 4.75 percent on November 2nd. The analysts say that the minutes of the meeting, released today, suggest that the rates may be kept unchanged in the near future. The MSCI Asia Pacific Index of regional … “Australian Dollar Drops on Outlook for Interest Rates”
Netdania Adds Small Yet Important Improvements to Charts
Netdanaia, one of the best forex charts provider, recently made some small yet improvements to its finance charts. These improvements allow more flexibility and make their Finance Charts product easier to use. All the changes are visible in the image – click to enlarge. The first and most notable improvement is the addition of grid … “Netdania Adds Small Yet Important Improvements to Charts”
Dollar Gains on Europe’s Debt Concerns & US Retail Sales
The US dollar jumped today to the highest level in almost seven weeks against the euro as the concerns about the sovereign-debt continues to plague Europe and after the favorable economic data and the rising yield on the US Treasuries increased the appeal of the US currency. The discussion between Ireland and the European Union about the bailout continues. The markets clearly showed the necessity of the bailout by the rapid decline of the euro. The problem for the euro is that Ireland isn’t only country with the debt … “Dollar Gains on Europe’s Debt Concerns & US Retail Sales”
Pound Gains vs. Euro on Greece’s Debt Concerns, Falls vs. Dollar
The Great Britain pound strengthened today after the European Union’s officials raised the estimates of Greece’s debt, prompting the traders to seek the perceived safety of the UK currency. The pound slipped versus the US dollar. Greece’s budget deficit in the previous year was revised from 13.6 percent of the gross domestic product to 15.4 percent. The nationâs debt was revised from 115.1 percent of the GDP to 126.8 percent. The theme of Greece again returned to the news, … “Pound Gains vs. Euro on Greece’s Debt Concerns, Falls vs. Dollar”