Day: November 24, 2007

November 24
2007

ZAR/JPY Going South

Another carry trade crisis victim — South African rand saw its bad times during the past week. ZAR closed on its lowest rate against Japanese yen (which can be easily called the “favorite” of the week) since the mid September — 15.8549 yens per rand. Given the 10.5% yield on the overnight interest kept in South African currency and Japanese yen’s 0.5%, ZAR/JPY make a perfect pair to earn nearly […]

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November 24
2007

Rupee Low After Intervention

Indian currency ended at its lowest rate against U.S. dollar on Friday, being on its weakest since October 23. USD/INR closed on 39.71 level yesterday, after international investors and global corporations were moving out their funds out of Indian currency. Concerned with global volatility and elevated risks in emerging economies, traders sold rupee for dollar […]

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November 24
2007

Forex Technical Analysis for 11/26—11/30 Week

EUR/USD trend: hold.GBP/USD trend: sell.USD/JPY trend: hold.EUR/JPY trend: sell. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4303 1.4462 1.4649 1.4808 1.4995 1.5154 1.5341 GBP/USD 2.0151 2.0301 2.0463 2.0613 2.0775 2.0925 2.1087 USD/JPY 103.35 105.45 106.88 108.98 110.41 112.51 113.94 EUR/JPY 155.06 157.26 158.99 161.19 […]

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