Stocks and Dollars

EUR/USD closed lower on Tuesday and below the 50% retracement level of the June-November rally crossing as it extends this month’s decline. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain bearish signalling that sideways to lower

EUR/USD closed lower on Tuesday and below the 50% retracement level of the June-November rally crossing as it extends this month’s decline. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain bearish signalling that sideways to lower

Market attention continues to focus on the developments in the Eurozone, but data-wise the calendar is very light today with only the final estimate of manufacturing PMI due for release. We look for the reading to remain unchanged on the preliminary estimate of 55.5, which would be consistent with decent

With the main refinancing rate staying a 1%, policymakers will decide whether to extend the full allotment of the 3-month tender at Thursday’s ECB meeting. While council members have diverged opinions on the issue, re-emergence of sovereign crisis concerns in the European periphery suggests the central bank should delay exit

The Australian economy expanded in the third quarter of the fiscal year less than the market’s expectations, as the nation’s exports (one of the main pillars for economic growth) retreated, which affected by the strength currency.

Continued weakness in the Euro (1.2997) which simply failed to hold up yesterday despite its proximity to the 200-day Moving Average (1.3121). The European debt problems seem to be just too big. The Dollar Index (81.26) has continued to rise as a result, a far cry from the low of

Continued weakness in the Euro (1.2997) which simply failed to hold up yesterday despite its proximity to the 200-day Moving Average (1.3121). The European debt problems seem to be just too big. The Dollar Index (81.26) has continued to rise as a result, a far cry from the low of

Euro 1.2995 Initial support at 1.2830 (Sep 14 low) followed by 1.2786 (76.4% retracement of 1.2588-1.4282). Initial resistance is now located at 1.3150 (Nov 30 Low) followed by 1.3354 (Nov 29 high)