Results for 'EURUSD'
99 articles with this tag name
Updated May 20, 2013 8:30:00 AM
It’s been pretty slow-going today as economic data has been thin on the ground. Ranges in FX are fairly tight and stock markets are flat to fairly neutral. Currently US futures are pointing to a slightly lower open. But there are some important fundamental events this week that could impact the medium-term direction of markets. Japan voice concerns over yen decline Firstly, Japan’s Economy Minister said today that the yen’s decline could have gone
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Updated May 19, 2013 6:02:31 PM
EURUSD may be in the midst of a bearish ascending triangle formation in the short-term. This suggests we may see some downside price in action in this pair in coming sessions. However, if price action breaks above the top of this triangle formation it may invalidate this scenario. In the long-term, the pair’s 50day SMA has broken below it 200day SMA – the golden cross - and price action recently broke through the bottom
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Updated May 16, 2013 12:00:00 PM
Another day, another wave of economic disappointments for the US economy. What a difference a week makes, this time last week the dollar surged nearly 3% on the back of the lowest level of unemployment claims for 5 years. However, the better payrolls numbers didn’t last long, rising to 360k from 328k last week. This was the highest level of claims since the end of March. Added to this the Philly Fed plunged to -5.2
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Updated May 15, 2013 4:00:00 AM
It’s been another torrid start for the euro, not only is the single currency getting battered by the resurgent dollar, but also by dismal domestic economic data. The Q1 GDP report due at 1000 BST/ 0500 ET is expected to confirm the sixth consecutive quarter of negative growth. Highlights from the individual reports include: • Germany: missed expectations, only grows 0.1% • France: missed expectations, shrunk -0.2% • Netherlands: growth falls 0.1% •
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Updated May 14, 2013 8:00:00 AM
After a slow start in financial markets this week a couple of themes are emerging: the yen is rebounding and the euro is getting hit from comments coming out of the Eurozone finance ministers meeting in Brussels. Could the Japanese authorities’ enormous stimulus plan be about to bite the government? 5-year government bond yields have surged to their highest level in 2 years this morning. While the nominal level of the 5-year yield is
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Updated May 14, 2013 5:30:00 AM
After a stunning end to last week and a major breakout in USDJPY, the dollar’s performance in the last 24 hours has been lacklustre at best. The dollar index has run into key resistance at 83.50 – the high from late March, opening the way for a decline back to 82.70 – the top of the daily cloud and an important support zone. So is this the end of the dollar rally, or just
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Updated May 14, 2013 3:00:00 AM
There isn’t much conviction in FX markets today as ranges narrow, so where are the short term opportunities in the FX market today? The EUR is our one to watch this morning. There is some meaty fundamental data due at 1000 BST/ 0500 ET including industrial production and German ZEW. The market expects a 0.5% increase in industrial production for March, but stronger than expected readings for Germany, Austria and the Netherlands may see
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Updated May 13, 2013 12:20:00 PM
At least in the short term, the yield spread between German Bunds and US Treasury yields seems to support a weaker EURUSD. But beware; a key support level is approaching. The spread on the 10-year yield is currently -0.56%, not far from - 0.6% is the lowest level since June 2010. Whenever the spread has fallen to these levels it has coincided with a low in EURUSD. • The last time the spread was
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Updated May 10, 2013 6:00:00 AM
If the FX market is a one horse town, then the yen is the horse today. Conspiracy theories abound as to why USDJPY slammed through 100.00 on what was a fairly quiet NYC afternoon. My personal favourite so far is from a story in the Wall Street Journal that a single trader took advantage of quiet markets, and started bidding up UISDJPY in 10 pip increments, happily thwarting the sellers. Could this individual trader perhaps
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Updated May 8, 2013 9:00:00 AM
The EUR has staged an impressive recovery in the last few days boosted by record highs in US stock markets and some impressive German data. German factory orders and industrial production both smashed expectations, which suggest that the largest country in the currency bloc had a strong end to Q1. EURUSD sliced through resistance at 1.3130 earlier, and is testing 1.3165-70 recent highs. If we get above here then 1.3210-40 resistance is back on
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