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Day: May 21, 2011
May 212011
US Dollar Posts Weekly Losses as Economy Looks Bad
The US dollar ended week lower against most major currencies as the US economic data was negative for the whole week. The minutes of the Federal Open Market Committee monetary meeting further weakened the dollar as they showed that the Federal Reserve isn’t planning to increase the interest rates. The US house market was showing signs of weakness for sometime, but the bad reports about housing starts and building permits, as well as the data about […]
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May 212011
Forex Technical Analysis for Week 05/23—05/27
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3724 1.3886 1.4022 1.4184 1.4320 1.4482 1.4618 GBP/USD 1.5920 1.6012 1.6120 1.6212 1.6320 1.6412 1.6520 USD/JPY 79.20 79.91 80.80 81.51 82.40 83.11 84.00 EUR/JPY 109.82 111.61 113.65 115.44 117.48 119.27 121.31 GBP/JPY 128.11 129.24 130.90 132.03 133.69 […]
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May 212011
Gains of Franc on Greece’s Downgrade & US Problems
The Swiss franc gained after demand for safe assets was boosted by the downgrade of Greece’s credit rating by Fitch Ratings. Fitch cut Greece’s rating to ‘B+’ and put it on the negative watch. The rating agency explained this decision: The ‘B+’ rating incorporates Fitch’s expectation that substantial new money will be provided to Greece by the EU and IMF and that Greek sovereign bonds will not be subject to a ‘soft restructuring’ or ‘re-profiling‘ […]
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