Cable is continuing to trade above 1.5400 and is inching up higher slowly. This has eased the downside pressure a bit. But we need to see whether it can sustain higher in the US session as well. As mentioned in our Morning comments, we will stay out of the market
FX Thoughts for the Day
December - 30 - 2011
Quiet Markets as New Year Approaches; What to Watch in 2012
December - 30 - 2011
Global asset markets are quiet on this last trading day before New Year. European stocks are 0.3 percent higher, EURUSD is down 0.2 percent, gold spot is up 1.6 percent, WTI crude is unchanged and Spanish & Italian 10-year bond yields are down eight and two basis points respectively. US
Wall Street opens nearly flat
December - 30 - 2011
Stocks opened little changed on Friday, the last trading day of 2011, as investors waited until next year to begin making large bets. The Dow Jones industrial average was down 17.33 points, or 0.14 percent, …
EUR/USD Outlook – Corrective Rally to Extend Higher; Key Resistance Cluster Near 1.3030
December - 30 - 2011
The EUR/USD slid below the 1.2870 2011 low and established a new 2011 low at 1.2857 before a corrective rally followed. As we wind down the trading year on the 12/30 US session, the market appears to continue this corrective rally. It is so far held below 1.2968, 50% retracement
EUR/USD Outlook – Corrective Rally to Extend Higher; Key Resistance Cluster Near 1.3030
December - 30 - 2011
The EUR/USD slid below the 1.2870 2011 low and established a new 2011 low at 1.2857 before a corrective rally followed. As we wind down the trading year on the 12/30 US session, the market appears to continue this corrective rally. It is so far held below 1.2968, 50% retracement
The Winds of Uncertainty Swept Through Currency Markets in 2011
December - 30 - 2011
2011 was not a kind year for mostly everyone involved in the currency markets. Traders generally depend on fundamental data to dictate directions in the forex market, but the uncertainty in Europe and the floundering global economic recovery were a recipe for daily bouts of volatility that had not been
The Winds of Uncertainty Swept Through Currency Markets in 2011
December - 30 - 2011
2011 was not a kind year for mostly everyone involved in the currency markets. Traders generally depend on fundamental data to dictate directions in the forex market, but the uncertainty in Europe and the floundering global economic recovery were a recipe for daily bouts of volatility that had not been
USD/JPY Dropping Accelerates, Forming Downward Channel This Week
December - 30 - 2011
On Thursday Dollar/Yen decreased insignificantly with 40 pips. The currency couple depreciated from 77.95 to 77.57 yesterday, not matching the positive Interbank sentiment at above +8%, closing the day at 77.62. This morning the Dollar weakened slightly further against the Yen, reaching 77.29. On the 1 hour chart quotes are