Day: October 2, 2010

October 2
2010

Weekly Gains of Australian Dollar on Rapid Chinese Growth

The Australian dollar rose for the sixth consecutive week against its US counterpart as the rapid growth in the Asian region boosted the demand for the higher-yielding currencies and after the bets on the rates hike increased. The Chinese government reported that the purchasing managers’ index advanced to 53.8 this month from 51.7 in August. The value above 50 indicates growth. China is Australia’s biggest export market. The strong growth in Asia, particularly China and India, should […]

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October 2
2010

Forex Technical Analysis for Week 10/04—10/08

EUR/USD trend: buy. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: buy. GBP/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3110 1.3246 1.3512 1.3648 1.3914 1.4050 1.4316 GBP/USD 1.5441 1.5554 1.5694 1.5807 1.5947 1.6060 1.6200 USD/JPY 81.58 82.36 82.83 83.61 84.08 84.86 […]

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October 2
2010

Franc Falls vs. Euro on Slower Manufacturing & Retail Sales

Today was a bad day for the safe currencies, including the Swiss franc, which fell against the euro. The franc also weakened after the macroeconomic data showed that the manufacturing slowed and the retail sails decreased. The Swiss currency outperformed the US dollar. The Schweizerischer Verband fur Materialwirtschaft und Einkauf Purchasing Managers’ Index dropped to 59.7 this month, below the value of 61.4 in August and the market expectations of 60.8. The retail sales (not seasonally […]

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