The main driver for the moves of the US dollar, as well as most other currencies, this week was the quantitative easing, which weakened already weak greenback. The favorable US nonfarm payrolls allowed the dollar to return some strength yesterday, but it posted weekly losses against most major currencies. The quantitative easing may bolster the US economy, but it weakens the US currency. The euro profited from the easing, further boosted […]
Read moreEUR/USD trend: hold. GBP/USD trend: buy. USD/JPY trend: hold. EUR/JPY trend: hold. GBP/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3419 1.3642 1.3836 1.4059 1.4253 1.4476 1.4670 GBP/USD 1.5658 1.5809 1.5995 1.6146 1.6332 1.6483 1.6669 USD/JPY 79.25 79.76 80.51 81.02 81.77 82.28 […]
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Read moreThe Japanese yen fell against the US dollar and weakened versus the Great Britain pound as the nonfarm payrolls in the US grew and the Asian stocks rallied, decreasing demand for the safer currencies. The US nonfarm payrolls posted the increase by 151,000 in October, following the decline by 41,000 in September. The MSCI Asia Pacific Index of regional shares gained as much as 1.2 percent. The VIX Index, the measure of market volatility which is often called the Wall Streetâs “fear […]
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