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Day: March 24, 2012
March 242012
Canada’s Dollar Falls for Third Week
The Canadian dollar posted a weekly loss, falling for the third week against its US counterpart, as signs of economic slowdown across the world damped investors’ demand for riskier assets tied to economic growth. This week wasn’t pretty for the Canadian currency (often nicknamed “loonie”). It’s no surprise, really, considering almost total absence of good news from Canada. Wholesale sales unexpectedly dropped, retail sales came out worse […]
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March 242012
Forex Technical Analysis for Week 03/26—03/30
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3012 1.3073 1.3171 1.3232 1.3330 1.3391 1.3489 GBP/USD 1.5631 1.5700 1.5784 1.5853 1.5937 1.6006 1.6090 USD/JPY 79.35 80.65 81.49 82.79 83.63 84.93 85.77 EUR/JPY 105.07 106.78 108.01 109.72 110.95 112.66 113.89 GBP/JPY 125.76 127.87 129.25 131.36 132.74 […]
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March 242012
Australian Dollar Gains as Fed Considers Dropping of Monetary Easing
The Australian dollar rose, erasing its previous losses, as stocks gained and prices for raw materials increased as market sentiment gradually turns to risk appetite and on the speculation that the Federal Reserve may reduce stimulus for the US economy. James Bullard, President of the Federal Reserve Bank of St. Louis, thought that it may be time to drop the monetary easing: With numerous monetary policy actions still on the table, and others still affecting […]
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