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YouTradeFX Daily Market Analysis : 08/09/2011
www.youtradefx.com
EUR/USD
The financial markets are waiting with bated breath for the President of the United States, Barak Obama, who is due to make a speech in which he hinted that he will outline his plans for a solution to the unemployment problems that are plagued the United States and for the creation on an additional one million new jobs. There is even greater tension regarding the meeting of the Federal Reserve Board on the 21st of the month. The Chairman of the Fed., Ben Bernanke is expected to make an announcement about the implementation of an additional incentive plan, the third such plan in two and half years.
The French index was hurt, to a large extent, by the wave of price drops across the markets in which it shed some 30% from its record high in the region of 4200 which ...
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Swiss franc dives as SNB shocks with euro target rate
(Reuters) - The Swiss franc plummeted versus the euro and dollar on Tuesday, after Switzerland's central bank shocked markets by setting a floor for the euro/Swiss exchange rate in an effort to curb franc strength which has taken a toll on the economy.
The euro rocketed nearly 0.1 francs after the Swiss National Bank set a rate target of 1.20 francs to the euro and said it would enforce it by buying foreign currency in unlimited quantities.
However, many analysts questioned whether the move could succeed given the robust demand for safe-haven assets that drove the franc to record highs last month.
Within minutes of the announcement, the euro leapt to 1.22 francs on trading platform EBS, its highest since early July and up 10 percent on the day. It pulled back to 1.2040, but was still on ...
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Euro falls broadly as euro zone risks mount
(Reuters) - The euro fell broadly on Monday, touching a three-week low versus the dollar as worries about Greek and Italian public deficits and a regional election rout for Germany's ruling party added to concerns over the euro zone's debt crisis.
The shared currency fell to 1.4108 on trading platform EBS, its weakest since mid-August. It pared losses as Asian sovereign accounts stepped in to buy around $1.4110, while option-related bids were seen placed into $1.4100.
Other currencies perceived to be higher risk, including the Australian and New Zealand dollars, also took a hit against the dollar as Friday's soft U.S. employment data fueled concerns that the U.S. economy may be sliding back into recession.
The suspension of an EU/IMF mission to Greece last week raised questions over ...
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Euro knocked by Greece, Italy debt concerns
(Reuters) - The euro fell broadly on Monday, touching a three-week trough versus the dollar as worries about Greek and Italian public deficits and a regional election rout for Germany's ruling party cast more doubt on the euro zone's ability to tackle its debt crisis.
The single currency fell to $1.4113 on electronic trading platform EBS, its weakest since mid-August. It pared losses as Asian sovereign names stepped in to buy the euro ahead of $1.4110, while bids were seen below that key technical support level.
Other currencies perceived to be higher risk, including the Australian and New Zealand dollars, also took a hit against the dollar, while the greenback climbed to a one-month high versus a currency basket.
The suspension of an EU/IMF mission to Greece late last week has raised ...
Title:
September off to an Inauspicious Start
The Week Ahead
Highlights
September off to an inauspicious start
Eurozone concerns ignite again on Greece
Shift in thinking on additional Fed easing/QE3
Key data & events to watch next week
September off to an inauspicious start
August managed to end on a reasonably hopeful note after the drubbing that started the month, but September has started on a decidedly downbeat note. U.S. and European data continue to point to stalling recoveries and the market debate over whether it's merely a slowdown or the start of a double dip recession has been reengaged. While it's too soon to say which way the outlook may break, both prospects are decidedly negative for risk sentiment. Looking ahead, there seems to be little light at the end of the tunnel either, as governments continue ...
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Euro drops on gloomy data, Swiss franc soars
(Reuters) - The euro fell against the dollar and the Swiss franc on Thursday, and could extend losses if fresh evidence emerges that manufacturing output in the United States shrank after euro zone data showed the sector contracting, disappointing some investors.
The yen stayed under pressure on dollar buying by Japanese accounts, lifting the U.S. currency to around 77 yen and soothing jitters that another round of intervention by Tokyo authorities may be on the way.
The Swiss franc climbed against the euro and the dollar, extending spectacular gains made on Wednesday with investors testing the resolve of the Swiss National Bank, which has so far kept away from intervening.
The euro was down 0.7 percent at $1.4272, with losses accelerating after it triggered stops on the break of $1. ...
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Euro drops on gloomy data
(Reuters) - The euro eased against the dollar on Thursday, taking a cue from lower stocks, and could slip further if fresh evidence emerges that manufacturing output in the United States shrank after euro zone data showed the sector contracting.
The yen stayed under pressure on dollar buying by Japanese accounts, lifting the U.S. currency to around 77 yen and soothing jitters that another round of intervention by Tokyo authorities may be on the way.
The Swiss franc was firm against the euro and the dollar, although gains were less spectacular than on Wednesday with investors wary of any intervention by the Swiss National Bank.
The euro was down 0.6 percent at $1.4291, triggering stops on the break of $1.4350 on selling by some quasi-sovereign investors. It fell past its 100-day moving ...
Title:
YouTradeFX Daily Market Analysis : 01/09/2011
www.youtradefx.com
DAX
For the past three weeks the German index has consistently traded in a horizontal pattern after it dove down steeply along with the other financial markets for a number of months. Talk in the Federal Reserve Bank regarding the possibility of a third incentive plan has given investors a degree of security. In the event that such a program is proposed, then we can reasonably expect an end to the DAX's horizontal pattern and a change of direction to an upwards trend. The DAX's test level for a breakthrough can be found in the region of resistance levels at 6200 euro.
Since the DAX represents the European continent which is heavily involved in a long lasting and continuing debt crisis, the DAX's wave of decreases was much steeper than those exhibited by indexes on Wall ...
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Yen falls as Japanese banks spur dollar buying
(Reuters) - The yen fell broadly after dollar buying by Japanese accounts spurred more broad-based purchases of the greenback, at one point lifting it above 77 yen and soothing jitters that another round of intervention by Tokyo may soon be on the way.
The Swiss franc extended gains after rising sharply on Wednesday when a top government official said Switzerland would have to live with a strong currency, with traders saying more advances against both the dollar and the euro were likely.
The dollar was pushed to a session high of 77.25 yen after a British fund, some U.S. accounts and several Tokyo banks followed a major Japan bank that made large dollar purchases in what appeared to be a specific transaction unrelated to fundamentals or particular positions, traders said.
"The amounts ( ...
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