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Day: January 28, 2012
January 282012
Loonie Rallies for Third Week, Going to Upside with Commodities
The Canadian dollar was rallying for a third week against the US dollar and the Japanese yen on a back of surging commodity prices. Commodities jumped after the US Federal Reserve announced its intention to keep interest rates low for a prolonged time, leading to weakness of the US currency. The currency was down against the euro for the second week. The most positive event for the Canadian currency this week was the pledge of the Fed to keep rates low till […]
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January 282012
Forex Technical Analysis for Week 01/30—02/03
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2626 1.2750 1.2984 1.3108 1.3342 1.3466 1.3700 GBP/USD 1.5355 1.5434 1.5579 1.5658 1.5803 1.5882 1.6027 USD/JPY 74.47 75.55 76.11 77.19 77.75 78.83 79.39 EUR/JPY 96.48 97.78 99.59 100.89 102.70 104.00 105.81 GBP/JPY 116.81 118.13 119.37 120.69 121.93 […]
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January 282012
Franc Rises, Will SNB Intervention Follow?
The Swiss franc rose against the US dollar amid speculations that Greece is struggling to persuade creditors into forgiving part of the nation’s debt. The currency was falling against the euro and the yen on prospects for Swiss central bank’s intervention, but closed almost unchanged. George Saravelos, a foreign-exchange strategist at Deutsche Bank, explained: Central bank intervention could emerge any day now given where we are. How they […]
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January 282012
NZD/USD Rises to Highest Since September as Trade Balance Posts Surplus
The New Zealand dollar closed higher versus its US counterpart as nation’s trade balance posted an unexpected surplus last month. The currency closed lower against the euro and the Japanese yen. New Zealand’s trade balance posted a surplus of NZ$338 million in December after showing a deficit of NZ$307 million. Forecasters promised a deficit of NZ$74 million. The surplus was a result of rising exports and falling imports. Milk powder, butter, and cheese were […]
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