EURUSD Тechnical analysis By: Go Forex.com – Jan 15, 2010
Jan 17, 2010 Make Money Online
EUR
The euro continues to be weakened by overall negative sentiment towards the Eurozone following debt downgrades at Greece and Spain. Unlike the rest of the market which has traded higher against the dollar, the EURUSD has been unable to gain continued momentum and its rallies have fizzled quickly. Case in point was Friday, when rumors of German Chancellor Angela Merkel’s resignation led to a sharp selloff in the euro. Also, last week, was the ECB’s monthly rate announcement. During ECB President Trichet’s remarks, he voiced support for a strong dollar policy, and mentioned that Greece and other troubled Eurozone countries are not in danger of being kicked out of the Eurozone, but they must continue to implement fiscal responsible policies. Going forward, as long as uncertainty continues in the Eurozone, at Go Forex we believe the euro will underperform most of the major currencies.
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Overnight deposits at ECB total 162.1 bln euros
Jan 4, 2010 Make Money Online
The European Central Bank reported the following daily data on liquidity provision, in millions of euros:
TODAY PREV DAY Use of overnight loan facility 1,290 44 Use of overnight deposit facility 162,117 162,774 Total covered bond purchases 28,812 28,620 (Reporting by Frankfurt newsroom)
–Reuters–
Tags: Deposit, ECB, European Central Bank, loan
Dollar suffers on rate view after Fed comments – By Naomi Tajitsu
Nov 23, 2009 Make Money Online
The dollar fell broadly on Monday, hitting a six-week low against the yen after dovish comments from a U.S. Federal Reserve official reinforced the view that U.S. interest rates would stay low for a long time.
Selling in the dollar came as gold prices hit a record high, underlining demand for higher-yielding assets. Expectations a low Fed funds rate would limit returns on many U.S. investments prompted some investors to diversify out of the currency.
The euro was supported after a key survey showed the euro zone’s service sector grew at its fastest pace in two years in November, suggesting an economic recovery will continue in the fourth quarter, albeit at a slower rate.
St. Louis Federal Reserve President James Bullard said on Sunday the Fed should keep alive its mortgage-related assets purchase program beyond a planned end date to help stimulate the economy.
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Tags: .FTEU3, ECB, European Central Bank, FED, Federal Reserve official, Forex, FX Market, Gold Price, US Dollar, USD
EUR/USD By: Forexpros – Oct 08, 2009
Oct 8, 2009 Make Money Online
First we would like to draw your kind attention to the ECB rate decision that will come out later today, and to president Trichet’s news conference that will follow. The Euro advanced to 1.4761 before retreating back to 1.4682. And with that, 1.4776 became the most important resistance for the short-term, and the key to reach new tops. If broken, the Euro will be able to reach areas above 1.48 within 24 hours after the break, first of which is 1.4824, then new highs above the tops of September 22nd & 23rd, the most attractive of which is 1.4901. On the other hand the most important support for the short-term is Fibonacci 61.8% at 1.4695, holding above it is crucial for the upward movement. But if it’s broken, we expect a test of one of the important support levels in the 1.46 & 1.45 areas such as 1.4645, 1.4613, 1.4575, down to 1.4509.
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ECB set to hold rates, caution on economy
Oct 8, 2009 Make Money Online
By Nigel Tutt
The European Central Bank is expected to keep interest rates at a record-low 1.0 percent on Thursday and its head Jean-Claude Trichet will probably caution against high hopes of a speedy economic recovery.
The 16-country bloc is likely to have exited the worst recession since World War Two in the third quarter of the year but all 82 economists in a Reuters poll said they see no move in interest rates for the fifth month running, with most expecting them to stay unchanged until late next year.
The meeting, now underway in Venice, Italy, is the second of the two rate meetings held annually outside the ECB’s Frankfurt base, and marks the first anniversary of coordinated rate cuts by major central banks in the aftermath of the Lehman Brothers collapse.
The Reserve Bank of Australia on Tuesday became the first Group of 20 central bank to raise rates after the global recession, but the ECB is not expected to follow suit for some time. Read the rest of this entry »
Tags: bank, ECB, European Central Bank, Interest Rate
Forex Snapshots: European Session: Waiting on the ECB
Sep 3, 2009 Make Money Online
Market Brief
The Greenback fell yesterday despite stocks continued falling for the fourth consecutive day on concerns that economy still under big pressure, as reports from U.S. on job losses and factory orders came worse than expected. The Yen was higher against most major currencies closing almost on a seven weeks high against the dollar and euro, as Nikkei Index dropped for a second day, boosting demand for the safe haven currency, and could be also supported by indication the new government would not worry on appreciating yen, and would not intervene in currency markets.
The Aussie gained against the Dollar and Yen, supported by GDP report, which showed economic growth for Q2 came higher than expected at 0.6% QoQ from 0.4% in Q1. Canadian Dollar still weak as crude oil prices remained below $70 per barrel. The Pound was able to find support at 1.61 levels, to rally more than 150 pips closing at 1.6264.
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Forex News – Shanghai Rallies While Markets Wait on the ECB
Sep 3, 2009 Make Money Online
Forex News and Events:
Markets were generally quiet in Asia, as they await the ECB rate decision and then the payroll figures tomorrow. Asia was mixed, but the scrutinized Shanghai index rallied back 4.79% after a tought few days. A nice boost for equity bulls and a potential indicator that risk appetite will be healthy today. However, USDJPY remains weak, briefly penetrating the 92.00 support, before rumors of option barriers scared traders off. European indexes were able to hold on to China’s positive moment and are broadly higher. Gold prices continued to drive higher after yesterday’s massive $20 plus surge (breaching a 6 month high of $980oz). The metals move will have traders eyeing EURCHF, now approaching to 1.5100 and hiding SNB. From yesterday US session, markets are digesting the August FOMC minutes and subsequent Philadelphia Fed President Plosser comments and ADP report. The Fed minutes overall failed to surprise, but did sound slightly more optimistic than July’s meeting. In an interview with CNBC, Plosser stated that the Fed must carefully examine exit strategies from unprecedented quantitative easing program, including raising interest rates. ADP estimate of the change in private payrolls was -298k, slightly worse than expected. As always, we caution traders on making too much of this figure, since ADP has a sporadic correlation to actual BLS numbers. Australia showed the worst reading since mid 2008, as July trade deficit widened by more than expected to AUD1.56bn, but exports were resilient and import showed a healthy growth in domestic demand. Despite the slightly negative reading, the AUD gained on its correlation to rising China stocks (improving risk appetite).
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Tags: CHF, ECB, EUR, Foreign Exchange, Forex, Gold, Gold Price, JPY, Market, Silver, USD
Asian Session: NFP’s disappoint as ECB stays put on rates – low volumes today for 4th July holiday.
Jul 4, 2009 Make Money Online
Market Brief
NFP’s disappoint by showing a -467K decline in payrolls, 100K more than the consensus. This underlines the vast layoffs from the GM and Chrysler debacle and the continuing difficulty to revive the economy. The EURUSD dropped from it’s high 1.41’s as low as 1.3930 before rebounding. While the pair broke it’s range momentarily only a healthy breakout below the 1.3900 support will prove sufficient for a substantial move.
The ECB kept rates at 1.00% followed by an uninspiring press conference by Trichet. No comments on whether the rates would fall further but it was clear that no hikes would come before 2010.
Volumes will inevitably be low today as the U.S is off for a pre-4th July holiday. We expect currencies to stay in tight ranges but large funds, sovereign or private entering the markets could provide large moves.
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Tags: Asian Session, AUD, Currency, ECB, EUR, Holiday, JPY, Market, NFP, Rate, SGD, USD
