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Found Resistance On The LowerTitle:
Recuperating euro stung by Greek uncertainty
(Reuters) - The euro retreated from a three-week peak against the dollar in Asia on Tuesday and looked vulnerable to extending its pullback after talks to reduce Greece's debt burden suffered a setback.
The single currency shed some 30 pips on news that euro zone finance ministers had sent back for further negotiations a debt restructuring offer from private Greek bondholders to achieve a lower average coupon on new Greek bonds.
The euro dipped to $1.3005 from $1.3034 late in New York, before steadying at $1.3014. On Monday, it jumped more than 1 percent to around $1.3050 as hopes of an eventual Greek deal drove a wave of short covering.
Further dousing market optimism, Germany denied a report that it was ready to boost the combined firepower of the euro zone's rescue funds to 750 ...
Title:
Sovereign debt crisis temporarily cancelled?
Morning Briefing : Sovereign debt crisis temporarily cancelled?
What's new:
Forex: Euro up to two-week highs versus dollar, yen on short-covering rally
Global Markets: Shares higher as Greek debt talks progress
Euro-Zone: Greece inches closer to deal with private bondholders
Euro-Zone: Successful debt sales from France and Spain
Forex rates in Asia and Indices:
EUR/USD: 1.2986 - 1.2954
USD/CHF: 0.9330 – 0.9307
GBP/USD: 1.5501 - 1.5475
USD/JPY: 77.30 – 77.05
EUR/CHF: 1.2091 – 1.2082
EUR/JPY: 100.34 – 99.86
DowJones: 12'623.98 +0.36%
NASDAQ: 2'788.33 +0.67%
S & P 500: 1'314.50 +0.49%
Nikkei: 8’766.36 +1.47%
Shanghai: 2’319.12 +1.00%
Gold: $ 1'658.50
Crude Oil: $ 100.67
Comments:
Positive outcomes for European bond auctions triggered bids in the Euro, which did not look back after taking ...
Title:
Dukascopy Morning Forex Overview : 19/01/2012
Fundamental Analysis
EUR
"The biggest challenge is to respond to the crisis in an adequate manner"
- Christine Lagarde, the IMF Managing Director
The International Monetary Fund is aiming to increase its lending capacity by 500 billion dollars to protect economies from the escalating euro zone debt crisis.
GBP
"Unemployment could become one of the main economic and political issues this year"
- Peter Dixon, an economist at Commerzbank AG
The number of people claiming unemployment benefits rose by 1.2 thousand to 1.6 million in December and the unemployment rate increased to 8.4 per cent, the highest rate in 16 years, said the Office for National Statistics on Wednesday.
USD
"Builders are seeing greater interest among potential buyers as employment and consumer confidence slowly ...
Title:
Wall Street rises on IMF hopes, Goldman results
Stocks rose on Wednesday on optimism the International Monetary Fund would be able to raise additional funds to help combat Europe's debt crisis and after Goldman Sachs' earnings beat estimates.
The International Monetary Fund is estimating it needs to raise up to $600 billion to lend to countries struggling with the fallout from the growing euro zone debt crisis, IMF sources said.
Greece and its creditors were to resume negotiations on all terms of a planned debt swap, hoping to overcome an impasse in talks and stave off a painful default.
"Overall the European situation has shown remarkable stability so far this year in light of the downgrades and now the story percolating around Greece," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois. ...
Title:
Dukascopy Morning Forex Overview : 18/01/2012
Fundamental Analysis
EUR
"We think the ECB could bring rates as low as 0.5 percent in March"
- Fabio Fois, an economist at Barclay's Capital
Eurozone inflation eased more than expected in December, giving the European Central Bank more room to lower borrowing costs as the economy heads toward a recession.
USD
"The pace of recovery has accelerated"
- Millan Mulraine, a senior U.S. strategist at TD Securities
New York region’s manufacturing sector grew in January at the fastest pace since May 2011, reflecting improving sales, employment and orders.
GBP
"We’re going to see inflation drop very sharply over the next six months"
- David Tinsley, chief U.K. economist at BNP Paribas SA
U.K. year on year inflation slowed in December to its weakest pace in six months, easing pressure on ...
Title:
YouTradeFX Daily Market Analysis : 18/01/2012
Fundamental News:
Today’s highlights:
· Claimant Count Change (G.B., 9:30 GMT)
· BoC Monetary Policy Report (CAD, 15:30 GMT)
EUR/USD
EUR/USD: The pair came to life after China reported that its economy grew at a strong pace. The euro defied all the bad news about an upcoming Greek default and the downgrade of the EFSF. It seems that investors are just in shock, like a deer staring at headlamps.
China grew at a pace of 8.9% (annually) in Q4 according to its quick figures beating expectations. The biggest problem facing the euro and the EU is the situation in Greece as it continues to worsened The talks about a 50% private sector write down for Greek bonds broke down, this is a key element for Greece’s second bailout program. At the same time reports about Greek banks showed a ...
Title:
Dukascopy Afternoon Forex Overview : 17/01/2012
Dukascopy Fundamental Analysis
EUR
France is increasing pressure on other EU members to accelerate the planned ban on Iran oil imports, said two officials familiar with the matter. France suggests embargo should not be postponed for more than 3 months, to give countries including Spain, Italy and Greece to find other supplies. European policy makers prepare to discuss the embargo at meeting due January 23.
USD
Mitt Romney’s controversial actions regarding Hispanic voters may lead to a decline in his popularity index, experts claimed today. While claiming himself as “one of us” within the Hispanic community, he strongly promoted the ideas of Kris Kobach, an activist fighting against increasing immigration. An unclear stance in the immigration questions may lead to a decline in votes in ...
Title:
Technical analysis of the EUR/CHF pair on January 17th, 2012
Commentary of the EUR/CHF pair:
The pair EUR/CHF found support yesterday on the lower band of its bearish channel (purple lines).
The pair just made a pullback on 1.21 as resistance.
All indicators are bearish.
We continue to advise short positions as far as 1.2150 is resistance.
The breakout of 1.2050 and 1.20 will both give a new sell signal.
In case of return above 1.2150, we will wait the breakout of 1.22 to advise long positions.
See the previous analysis of the EUR/CHF pair of January 16th, 2012
EUR/CHF Analysis
Title:
Dukascopy Morning Forex Overview : 16/01/2012
Fundamental Analysis
EUR
"In this sort of environment it does not take much to knock the euro, it is in an extremely vulnerable position"
- Rabobank (based on Reuters)
The outlook for EUR/USD will remain negative as long as a cluster of resistances at 1.2913/20 (downtrend and 20 day ma) stays in place. Currently the pair is moving toward 1.2530/88, while a long-term target is 1.2083 (200 month ma).
USD
"The Greek situation is quite dire. If they don’t reach some sort of agreement by the end of next week, they may very likely be forced in to a hard default"
- Forex.com (based on Bloomberg)
EUR/JPY has declined down to new 11-year lows. While being capped by a formidable resistance located at 98.75/80 the bias will be bearish for the pair, which in turn is expected to fall to 94.90, ...
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