Day: November 12, 2011

November 12
2011

Week of Risk Aversion Was Moderately Good for US Dollar

This week was good for the US dollar as risk aversion sentiment caused by the problems in Europe increased demand for safety of the US currency. The end of the week, though, was marked by return of risk appetite, reducing gains of the greenback. The week had the same issue at the forefront as the couple of the previous weeks — the European debt crisis. Perhaps, as in the previous year, market participants would become bored with Europe’s story that doesn’t seem to move […]

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November 12
2011

Forex Technical Analysis for Week 11/14—11/18

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3160 1.3321 1.3535 1.3696 1.3910 1.4071 1.4285 GBP/USD 1.5651 1.5759 1.5913 1.6021 1.6175 1.6283 1.6437 USD/JPY 75.54 76.29 76.69 77.44 77.84 78.59 78.99 EUR/JPY 101.07 102.90 104.46 106.29 107.85 109.68 111.24 GBP/JPY 119.99 121.45 122.66 124.12 125.33 […]

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November 12
2011

Mexican Peso Down for Second Week

The Mexican peso posted the second week of losses after the report that Interior Minister Jose Francisco Blake Mora died in an accident. Mora was the country’s major official in battling with drug trafficking organizations. He died in a helicopter crash along with other eight people. The case is currently under investigation, but a low visibility conditions were named as a possible reason for the tragedy. There are concerns that appeal […]

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November 12
2011

USD/CAD Lower, EUR/CAD Higher as European Situation Improves

The Canadian dollar advanced against the US currency and weakened against the euro as the situation in Europe showed signs of improvement, boosting attractiveness of commodity currencies. The positive news from Europe were well received by market, helping growth-related currencies, like the loonie (the usual nickname of the Canadian currency). The Standard & Poor’s/TSX Composite Index gained 1.4 percent, while the S&P 500 Index rose 2 percent. Crude oil futures advanced 1.7 […]

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