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Day: November 13, 2010
November 132010
Week of Weakness for Euro, Volatile Swings on Friday
This weak was marked by return of the concerns about Europe’s sovereign-debt crisis and the weakness of the euro. The currency rose on Friday slightly, but overall this was a bad week for the euro. With the quantitative easing happened in the US the attention of the traders returned to Europe. And it turned out that the economical situation there hasn’t improved much. Still the so-called peripheral economies remain burdened by the debt, still talks about Ireland’s bailout persist, […]
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November 132010
Forex Technical Analysis for Week 11/15—11/19
EUR/USD trend: hold. GBP/USD trend: buy. USD/JPY trend: hold. EUR/JPY trend: sell. GBP/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2974 1.3275 1.3483 1.3784 1.3992 1.4293 1.4501 GBP/USD 1.5728 1.5841 1.5987 1.6100 1.6246 1.6359 1.6505 USD/JPY 78.80 79.66 81.05 81.91 83.30 84.16 […]
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November 132010
Chinese Yuan Rises on Outlook for Further Interest Rates Hike
The Chinese yuan strengthened on the speculation that the central bank may increase the interest rates in order to slow the rapidly growing inflation, which may create an asset bubble. The rapid growth of the Chinese economy attracted investors, boosting the consumer prices to 4.4 percent in October from a year ago. The accelerating inflation troubles the Chinese officials, who may prefer the stronger currency to the risk of the asset bubble. The policy makers are taking steps to curb […]
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November 132010
Euro Posts Gains, but Trend Remains Bearish
The euro jumped today on the speculation that the European Union would support its most indebted nations. The euro resumed its decline later as the traders weren’t convinced. The speculations suggested that Ireland’s government discussed with the EU leaders the possibility of the bailout for Ireland. The EU officials dismissed such suggestions as mere rumors. The traders weren’t much convinced by the attempts of the EU leaders to improve confidence in the European economy, therefore the euro’s gains were […]
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