Day: June 4, 2011

June 4
2011

Euro Posts Weekly Gains, Future Still Uncertain

The euro posted gains against other majors this week as concerns about the European sovereign-debt issues, particularly the situation in Greece, eased, increasing appeal of the shared European currency. The main drive for the euro this week was the economic data from the US. Attention of traders turned from Europe to America, and what they’ve seen wasn’t pleasant. Meanwhile, the 17-nation currency regained its strength on the back of the US woes. The news from Europe […]

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June 4
2011

Forex Technical Analysis for Week 05/30—06/03

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3994 1.4125 1.4379 1.4510 1.4764 1.4895 1.5149 GBP/USD 1.6029 1.6157 1.6290 1.6418 1.6551 1.6679 1.6812 USD/JPY 77.90 78.97 79.62 80.69 81.34 82.41 83.06 EUR/JPY 113.25 114.23 115.84 116.82 118.43 119.41 121.02 GBP/JPY 125.46 128.05 129.92 132.51 134.38 […]

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June 4
2011

Canada’s Dollar Slips on Crude Oil & US Jobs Market

The Canadian dollar dropped today as crude oil declined after the report showed that the US employers added far less jobs than was anticipated by analysts and traders. Crude oil, the main Canada’s export, fell 0.2 percent yesterday and 0.4 percent over this week. The unfavorable payrolls and the rising unemployment claims had their negative effect on prices for crude, as well as on the outlook for Canada’s economy. The attention of Forex traders shifted […]

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June 4
2011

Euro at Four-Week High vs. Dollar on Greece & Non-Farm Payrolls

The euro jumped to the highest level in four weeks against the US dollar as Greece will receive more aid and as the US non-farm payrolls were simply terrible. The European Union finance ministers agreed to provide Greece €110 billion as a part of the last year’s bailout program. The Eurozone services PMI was at 56.0 in May, compared to the preliminary estimates of 55.4. The European economy is still far from being strong as the composite PMI fell […]

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