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OutTitle:
Pairs narrow trading on technical movements
Although some optimism came back to global financial markets after that European leaders reassured investors that a Greek failure to pay on its debts can actually be avoided, still major pairs are now narrow trading mainly on technical movements unlike the prior EU session where the Union currency was seeing gains.
In fact As a result of these technical movements the euro-dollar pair is narrow trading on several time charts as neutral signs are witnessed throughout the momentum indicators at different time scales with the Union currency now trading around 1.43009 recording a high of 1.4326 and a low of 1.4190.Trading range for today is among the major support 1.4235 and the major resistance 1.4545
As for the pound-dollar pair, is consolidating and is forecasted to start inclining to the ...
Title:
South African Rand Falls on Greek Crisis, Trims Losses
The South African rand dropped today as the disagreement of the European Union leaders about the bailout for Greece reduced appeal of riskier currencies, but erased most of its losses after the European politician assured that they will help Greece.
Jean-Claude Juncker, the Prime Minister of Luxembourg, said that the sovereign-debt crisis won’t spread to Italy. According to Juncker, George Papandreou, Prime Minister of Greece, claimed that he’ll do any measures necessary to receive the aid. Anyway, renewed concerns the debt crisis sapped strength of higher-yielding currencies, including the rand.
USD/ZAR traded near 6.7510 as of 16:41 GMT today after surging from 6.7430 to 6.8040.
Title:
Dukascopy Afternoon Forex Overview : 20/06/2011
Previous session overview
More support for the euro zone's most fragile economies in the form of a larger European Financial Stability Facility helped the euro recoup earlier losses Monday.
The EFSF news helped the single currency trade back to almost even against the dollar; the euro reversed direction against the yen and made modest gains against the Japanese currency.
Analysts though said any tick up was likely to be fleeting because of so much uncertainty on putting a cap on Greece's fiscal troubles. To that end, the debt crisis in the euro zone's periphery is threatening to shatter the region's economic recovery and may cause a global financial disruption if not stopped, the International Monetary Fund warned anew Monday.
The euro was quoted at USD1.4303 from USD1.4309 in late ...
Title:
Greece’s Bailout Delayed, Swiss Franc Jumps
The Swiss franc advanced today as the European Union leaders considered withholding half of the €12 billion portion of the Greek aid, increasing demand for safety of the Swiss currency.
This measure was intended to encourage Greece to perform necessary reforms. Half if the rescue package should be enough to support the country in the short term, but pressure to continue spending cuts will remain. Elena Salgado, the Minister of Economy and Finance of Spain, thought that the aid should be provided in full, stating after the four-hour discussion: “You can’t divide it.”
USD/CHF fell from 0.8490 to 0.8427 today as of 14:36 GMT. EUR/CHF dropped to 1.2063 from 1.2133 after posting the intraday low of 1.2016.
Title:
The euro suffers the loss of confidence
The postponement of financial aid loans for Greece, 12 billion euros for July, until the middle of next month, increased jitters in the market and woes over Greece being forced to default, especially since European finance ministers linked the providence of this aid with the approval of the austerity measures that meets strong resentment in Greece, and this is what traders are really concerned about, amid the political tension in the nation.
The euro is still facing significant pressures against the dollar with the beginning of the week, and those negative pressures continued during the European session, maintaining the dollar’s strength against a basket of foreign currencies. The USDIX is currently trading around 75.35 levels and investors are tending towards the low-yielding assets ...
Title:
Forexpros.com Daily Analysis - 20/06/2011
ForexPros Daily Analysis June 20, 2011
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End: Tue, Jun 21, 2011, 11:00 EDT
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Title:
Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)
EUR/USD
Maintains near-term positive structure off 1.4073, 3-weeks fresh low, after pullback from 1.4338, last Friday’s recovery high, was supported by trendline, connecting 1.4073 and 1.4126 lows. Fresh attempt higher needs to clear 1.4320./38, channel resistance / previous high, to resume recovery towards 1.4380, Fib 50% of 1.4695/1.4073 downleg, with possible extension to 1.4430/60 seen on a break. Failure to break above 1.4338, however, would signal lower top and fresh weakness and turn focus to 1.4190, today’s low.
Res: 1.4320, 1.4338, 1.4428, 1.4460
Sup: 1.4211, 1.4190, 1.4126, 1.4073
http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110620133925.gif
GBP/USD
Extends near-term recovery phase from 1.6077, 16 June low, in attempt to emerge from ...
Title:
Economic Data Analysis: Greek Tragedy?
Economic Data Analysis
Greek Tragedy?
EU crisis to dominate, as spectre of Greek default reaches fever pitch
US FOMC to keep policy unchanged, but allude to growing downside risks
MPC minutes likely to confirm the Committee remains in no mood to tighten
UK public finances likely to highlight case for fiscal restraint
Market attention looks almost certain to be dominated by the unfolding developments in Greece and the wider European periphery over the coming week. The possibility that Greece could be forced into a sovereign default, and the potential contagion this could precipitate across Europe, has been thrown into sudden and sharp relief as the political situation in Greece has descended into chaos over the last few days.
EU sovereign debt crisis: The violent riots in ...
Title:
US Economic Indicators Preview - Week of 20 to 26 June 2011
US Economic Indicators Preview
(Week of 20 to 26 June 2011)
FOMC meeting: rates to remain unchanged, asset purchases to be phased out
Durable goods orders (May): slight increase
GDP (Q1; 3rd estimate): marginal upward revision
The FOMC is scheduled to meet on Wednesday. The rate decision will be published at 18.30 hrs, the press conference will start at 20.15 hrs. We expect the Fed Funds target rate to be kept at 0 to 0.25%. Moreover, the FOMC is likely to confirm its long-term commitment to "exceptionally low levels for the federal funds rate for an extended period". The $600bn Treasury securities purchasing programme will probably be phased out according to plan, but the policy of reinvesting principal payments will be maintained. The economic assessment is likely to ...
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