Day: January 23, 2010

January 23
2010

Yen More Attractive on Renewed Risk Aversion

The yen ended the week with a very positive performance versus most of the main traded currencies as a new wave of risk aversion brought traders to purchase assets in the Asian country, since the yen is well-known for being the safest refuge currency for times of uncertainty in trading markets. The yen climbed significantly this week versus the U.S. dollar after a White House statement proposing new regulations for banking institutions in the country fueled speculations that […]

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January 23
2010

Forex Technical Analysis for 01/25—01/29 Week

EUR/USD trend: buy. GBP/USD trend: hold. USD/JPY trend: sell. EUR/JPY trend: buy. GBP/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3588 1.3808 1.3973 1.4193 1.4358 1.4578 1.4743 GBP/USD 1.5592 1.5835 1.5973 1.6215 1.6354 1.6596 1.6734 USD/JPY 87.01 88.40 89.10 90.49 91.19 92.58 […]

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January 23
2010

South Korean Won Biggest Loser in Asia on Risk Aversion

The South Korean currency, one of the best performers in 2009 among Asian emerging markets, had a severe weekly decline as risk aversion remained predominant after China’s statements regarding new regulations on its economy. After China announced it will take further measures to control inflation in the country, which can be understood with implied slower economic growth, the South Korean currency declined versus most of its main […]

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January 23
2010

Pound Ends Week Falling on Retail Sales

The U.K. currency retreated from a previous advance versus the euro as attractiveness for the currency declined after a report showed worse than expected numbers for monthly retail sales in Britain before the end of this week’s session. The pound lost versus several currencies including the U.S. dollar and the euro after a retail sales report showed an increase of 0.3 percent in December, much below what forecasts suggested on their majority, expecting a growth beyond […]

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