Day: September 12, 2009

September 12
2009

Dollar Posts Sharpest Fall in 5 Months Versus Majors

The dollar had the sharpest decline since May versus most of the 16 main traded currencies as the U.S. currency is having its attractiveness decreased since borrowing costs declined, forcing investors to look for yield in other markets around the world. Several reasons extended the gains of multiple currencies versus a weakened and less attractive U.S. dollar, as mainly evidences of a global economic recovery are playing a fundamental role behind this week’s […]

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September 12
2009

Forex Technical Analysis for 09/14—09/18 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3988 1.4083 1.4188 1.4283 1.4388 1.4483 1.4588 GBP/USD 1.5964 1.6119 1.6313 1.6468 1.6662 1.6817 1.7011 USD/JPY 91.58 92.50 93.44 94.36 95.30 96.22 97.16 EUR/JPY 129.82 […]

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September 12
2009

Brazilian Real Declines on Economic Outlook

After touching a one-year high versus the greenback this week, the Brazilian currency declined in a corrective movement, as speculations suggested that the wealthiest economy in South America may not provide support for extensions in the current real’s rally. Even after posting a report indicating growth for the last quarter in Brazil, the real did not manage to extend its gains after touching a one-year high previously this week, as corrective movements and speculations regarding […]

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September 12
2009

Mexican Peso Drops on Political Crisis

The Mexican peso climbed during this week as risk appetite rose in international trading markets increasing attractiveness for emergent markets assets, but today, after the opposition party attitude towards new taxes, the peso declined. Mexico’s President Felipe Calderon is struggling to pass a new series of laws in the country that would increase tax on foods and medicines, as a part of the fiscal reform to reestablish the country’s budget. The opposition party affirmed that […]

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