Stocks and Dollars

Despite yesterday’s brief rise to 109.56, the subsequent selloff from there has revived our bearishness and recent decline should resume in wave 5 after consolidation, however, as price has just rebounded from 106.16, suggesting initial upside risk is for rebound towards 107.85/90 (50% Fibonacci retracement of 109.56 to 106.16), however,

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206.

The steep decline in the Nikkei 225 Index brought the risk aversion sentiment into the European session as the CHF, USD and JPY all maintained a firm tone against other European pairs as uncertainty continued to reign over the sustainability of the global economic recovery. Month-end flows continued to aid

Will Mr. Trichet be as happy as he appeared at the last meeting? We believe not US data have deteriorated a lot since the last meeting and it can only be a matter of time before the US downturn begins to drag on European growth. Nevertheless, the euro area

With the UK on a long weekend yesterday, Forex traders had a slight pause in what has been a frenzied month. Enjoy it while you can, because September is notorious for being a volatile month and especially in the equity markets. This summer will be remembered (or maybe not) for

UK’s mortgage approvals rose in the month of July, conversely from the, signaling that the housing sector in the UK might not be as weak as previously thought, where the index retreated in the month of June.

On Monday Dollar/Yen sharply decreased after initial bullish start of the week, in line with the very negative Interbank sentiment at around -78%. The currency couple depreciated from 85.90 to 84.48 yesterday, closing the day at 84.62. Today the bears pushed quotes further down to 84.12. On the 1 hour

The Euro and the British Pound were little changed in overnight trade as prices consolidate NY-session losses against the US Dollar, with the safety-linked greenback capitalizing on renewed risk aversion. German Unemployment figures headline the economic calendar in European hours, with expectations calling for jobless claims to drop 20,000 jobs