Day: May 8, 2010

May 8
2010

U.S. Dollar Rally Was Halted by Week’s End

The U.S. dollar was steadily rising this week against most other major currencies boosted by the concern about Greece’s fiscal crisis, while the good fundamentals showed that U.S. economy is expanding, though by the end of the week the greenback posted a slight drop. Jean-Claude Trichet, the President of the European Central Bank, refused to buy the government bonds in order to ease Greece’s crisis. At the same time, the U.S. economic recovery was underway, […]

Read more
May 8
2010

Forex Technical Analysis for Week 05/10—5/14

EUR/USD trend: sell. GBP/USD trend: hold. USD/JPY trend: hold. EUR/JPY trend: hold. GBP/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.1583 1.2049 1.2400 1.2866 1.3217 1.3683 1.4034 GBP/USD 1.3570 1.4022 1.4411 1.4864 1.5252 1.5705 1.6094 USD/JPY 81.00 84.48 88.03 91.51 95.06 98.53 […]

Read more
May 8
2010

Canadian Dollar Strengthened by Good Employment Data

The Canadian dollar strengthened today on the speculation that the borrowing costs may be increased by the central bank after the employment significantly increased the last month, though the renewed hopes about the favorable outcome of the European debt troubles helped the euro to outperform the Canadian currency. The number of jobs in Canada rose by 108,700 in April after the increase of 17,900 in the month earlier. The surge of the employment in the U.S., the largest trading partner of Canada, also added to loonie’s strength. […]

Read more