Day: December 3, 2011

December 3
2011

Surprisingly Good Sentiment Hurts Dollar, Leading to Weekly Losses

The US dollar was down this week against most major currencies as the unexpectedly positive mood among Forex traders damped demand for the safety of the US currency. The greenback rose against the yen, but even the franc (which is still often behaves as a safe currency) outperformed the dollar. At first, it looked like the negative sentiment from the previous week would continue affect markets. But then the announcement of the joint effort […]

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December 3
2011

Forex Technical Analysis for Week 12/05—12/09

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2961 1.3110 1.3250 1.3399 1.3539 1.3688 1.3828 GBP/USD 1.5120 1.5288 1.5442 1.5610 1.5764 1.5932 1.6086 USD/JPY 76.41 76.84 77.40 77.83 78.39 78.82 79.38 EUR/JPY 100.46 101.76 103.09 104.39 105.72 107.02 108.35 GBP/JPY 117.33 118.61 120.09 121.37 122.85 […]

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December 3
2011

Canadian Dollar Erases Daily Gains

The Canadian dollar retreated, losing its initial gains, after the report showed that the Canadian employment declined instead of rising as was predicted and the unemployment rate unexpectedly increased. The Canadian employment was expected to rise by 18,100 jobs, but instead it decline by almost the same amount (18,600 on the seasonally adjusted basis) in November. The unemployment rate edged up from 7.3 percent to 7.4 percent, while market participants hoped it […]

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December 3
2011

Swiss Franc Drops on Talks About Another Intervention

The Swiss franc declined as Switzerland signaled that it may take steps to further weaken then nation’s currency, which is already subdued by its peg to the euro. The Swiss National Bank set the ceiling for the franc at 1.20 francs per euro on September 6. The SNB was trying to weaken the Swiss currency for several years, but it was the first time when the central bank was able to contain Swissie’s gains […]

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