Day: November 9, 2013

November 9
2013

Surprises from ECB & NFP Result in Another Week of Losses for Euro

The euro demonstrated the second consecutive weekly losses as surprises from the European Central Bank and US non-farm payrolls pounded the currency into the ground. Last week the euro was soft mostly because of dollar’s strength, but this week the shared 17-nation currency has its own reason to drop: the unexpected interest rate cut from the European Central Bank. Strictly speaking, the cut itself was anticipated, it is the timing […]

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November 9
2013

Forex Technical Analysis for Week 11/11–11/15

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3002 1.3149 1.3253 1.3400 1.3505 1.3652 1.3756 GBP/USD 1.5689 1.5795 1.5904 1.6010 1.6119 1.6225 1.6334 USD/JPY 96.27 96.94 98.05 98.73 99.83 100.51 101.61 EUR/JPY 128.70 129.96 131.20 132.46 133.71 134.96 136.21 GBP/JPY 154.53 155.58 157.17 158.21 159.80 […]

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November 9
2013

Pound Weakened by Friday, Maintains Weekly Gains

The Great Britain pound ended Friday weaker against the US dollar and the euro, but managed to rise against the Japanese yen. The currency was able to keep its weekly gains against other most-traded currencies, including the greenback. US employment surged by 204,000 jobs in October. This easily explains the weakness of the sterling against the US currency. The drop against the euro is harder to explain. Domestically, the UK currency is supported by mostly […]

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November 9
2013

CAD Loses to USD, Gains vs. Other Major on Employment Data

The Canadian dollar ended Friday lower against its US peer because of unexpectedly good non-farm payrolls, but rose against most other major currencies thanks to Canadian employment data that was positive too. Canadian employers added 13,200 jobs in October, while in September employment grew by 11,900. The unemployment rate remained steady at 6.9 percent, frustrating analysts who have expected a small increase. Housing starts […]

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