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EUR/USD enlarges recovery to 1.3015

EUR/USD enlarges recovery to 1.3015 2011-01-12 05:09:20     The European shared currency kept ticking higher along the Asian session, animated by a nice mix of higher risk appetite coupled with the usual bids by Asian Central Banks.EUR/USD got a new enhancement to fresh daily highs at 1.3015, moving further away from its most recent lows at 1.2871. Current price can be found at 1.3009, 37 pips or 0.28% above its previous close.Sharing its technical...

China’s Forex holdings rise to record $2.85 trillion

China’s Forex holdings rise to record $2.85 trillion 2011-01-11 13:06:18     Statistics released by the People’s Bank of China on Tuesday showed the Chinese Forex kitty is bursting at seams with an 18.6 percent growth in 2010 which made it zoom to a record $2.85 trillion.The revelation that the foreign exchange reserve of the world's second largest economy and the largest exporter had increased by $199 billion in the final three months of 2010 will make it harder...

Loonie Pares Losses vs. Greenback on Rally of Commodities

Loonie Pares Losses vs. Greenback on Rally of Commodities 2011-01-11 12:59:11     The Canadian dollar pared losses against its US counterpart today as the rally of commodities outweighed the impact of the increasing concerns about the fiscal crisis in the European Union.Today’s rally of commodities was very favorable for the loonie, as the Canadian currency is often nicknamed, because about half of Canada’s export revenue comes from raw materials. The Thomson Reuters/Jefferies CRB Index of raw materials...

EUR/CHF recovery stalls below 1.2565/80

EUR/CHF recovery stalls below 1.2565/80 2011-01-11 11:35:45     Downfall from last week highs at 1.2725 was contained yesterday at 1.2435, and the pair bounced up returning above 1.2500 to stall below 1.2565/80 resistance area, with 1.2515 level offering support.Immediate resistance lies the mentioned 1.2565/80 (Jan 7/10/11 highs), and above here, 1.2635 (daily Pivot Point S2) and 1.2680 (Jan 4 high). On the downside, support levels lie at 1.2515 (day low), and below here, 1.2480/85 (intra-day support)...

U.S. Dollar Falls Slightly vs. Rivals

U.S. Dollar Falls Slightly vs. Rivals 2011-01-11 10:28:20       Economic News USD - U.S. Dollar Weakens as Risk Appetite RaisesThe U.S. dollar fell slightly against most of its major currencies yesterday, as gains in stocks and commodities prompted investors to wade into riskier currency trades. By yesterday's close, the USD fell against the EUR, pushing the oft-traded currency pair to 1.2950. The dollar experienced similar behavior against the...

AUD/USD consolidating earlier losses

AUD/USD consolidating earlier losses 2011-01-11 07:41:52     The Aussie continues trading at daily lows against its major competitors weighed not only by a lower-than-expected trade surplus, but also by the floods in the Australian state of Queensland that are worsening.AUD/USD has dropped over 110 pips throughout the Asian session and set a fresh 3-week low at 0.9837 within the last trading hour. The Aussie remains under strong pressure near lows, currently at 0.9845, 1.10% below its...

Euro rebounds as Japan joins China on European bond buying

Euro rebounds as Japan joins China on European bond buying 2011-01-11 06:53:33     The Euro managed to engineer great doses of strength against its major competitors in the Asian trade, prior to have dipped down in early trading, dragged by heavy selling in the Aussie, which was triggered by lingering pessimism on the massive floods affecting Queensland.However, EUR downward bias took a dramatic change when Japanese Fin Min Noda announced that “Japan will buy Euro bonds...

Euro recovers from 4-month low on short-covering

Euro recovers from 4-month low on short-covering 2011-01-11 05:41:30     The single currency extended last week's selloff to a fresh four-month low at 1.2860 (NZ) on Monday due to remaining euro zone sovereign debt crisis after a senior euro zone source said on Sunday that pressure was growing on Portugal from Germany, France and other euro zone countries to seek financial help from the EU and IMF,On the other hand, a Portuguese government spokesman later denied a...

Euro zone sovereign debt fears back in focus

Euro zone sovereign debt fears back in focus 2011-01-10 12:47:42     Euro zone sovereign fears back in focus Euro zone debt auctions give investors the fear and dominate the market’s attention Aussie dollar weighed down by sharp narrowing of China’s trade surplus Beware Swishier strength: the SNB are debating the rising currency this week and could act Europe’s debt woes are dominating market action. Reports that France and Germany are putting pressure on Portugal to use the Euro zone’s bailout facility were swiftly...

The euro decouples from other risky assets

The euro decouples from other risky assets 2011-01-10 12:07:33     The euro is under intense pressure The single currency is hovering around the 1.2900 level vs. the dollar and is very uneven as we start the second week of the year. Weakness in EURUSD has dragged down other euro crosses including EURGBP, EURJPY and EURCHF, all of which have weakened in recent hours. Not even Friday’s disappointing non-farm payrolls reading in the US could halt its decline. The reason...
 
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