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Day: March 10, 2012
March 102012
Weekly Losses of AUD Caused by Bad Fundamentals in Australia
The Australian dollar was rising in the first half of the week, reversed its decline in the second half, but wasn’t able to completely erase its losses and ended the week with closing price below the opening level. The beginning of this week was bad for the Australian currency (often nicknamed Aussie). Concerns about the Greek bond swap were erasing demand for riskier assets. The decline of the eurozone economy and China’s downwardly revised growth target […]
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March 102012
Forex Technical Analysis for Week 03/12—03/16
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2853 1.2975 1.3048 1.3170 1.3243 1.3365 1.3438 GBP/USD 1.5374 1.5517 1.5594 1.5737 1.5814 1.5957 1.6034 USD/JPY 79.06 79.81 81.14 81.89 83.22 83.97 85.30 EUR/JPY 103.34 104.48 106.35 107.49 109.36 110.50 112.37 GBP/JPY 124.04 125.28 127.25 128.49 130.46 […]
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March 102012
Norwegian Krone Falls on Trader Minister’s Comments
The Norwegian krone slumped after the country’s trade minister said that the strong currency is hurting Norway’s exporters, causing traders to speculate about possible intervention. Trond Giske, Norway’s Minister of Trade and Industry, said: It is our concern because the export industries are hurting from the strong krone. We are following the situation closely. Giske also added: Those exporters that are both hurting from […]
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March 102012
GBP/USD Falls After Greek Bondholders Suffer Losses
The Great Britain pound slipped versus the US dollar as investors shunned European assets after private holders of Greek debt suffered losses on Greece’s bonds. The currency was still up against the euro and the Japanese yen. Greece used collective action clauses to increase participation of investors in the bond swap program. As a result, the International Swaps & Derivatives Association announced that “a Restructuring Credit Event has occurred with respect to The Hellenic […]
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