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Significant Equity Losses Pressing Markets Down
08.07.2008 03:22
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The yen rose against the euro and the pound on speculation widening mortgage industry losses will prompt investors to pare holdings of higher-yielding assets funded with the Japanese currency.
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FX Technical Analysis
08.07.2008 03:22
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EURUSD Comment: Recovering from the bottom of the Ichimoku 'cloud' and we expect the Euro to hold above the top of the cloud today. Expect nervous consolidation between 1.5650 and 1.5750.
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Markets Slid On Funding Concern
08.07.2008 03:22
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In the FX markets the JPY strengthened somewhat thus causing EURJPY to recede from recent highs. However for the time being we the technical case isn't quite in place for a selling recommendation on the currency cross. Thus we prefer to maintain a neutral stance for the time being.
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Asia Session Recap
08.07.2008 02:15
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After being decimated in the NY session yesterday, the US Dollar made back some ground as the Asian session progressed. In NY the EUR/USD spiked to highs of 1.5752 as two of the biggest US mortgage lenders lost 20% of stock value. In Asia the pair peaked at 1.5734, but...
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Technical Analysis Daily: EUR/USD
08.07.2008 02:15
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The Euro recovered insignificantly yesterday against the US Dollar from Monday's bottom 1.5614 to the top 1.5752, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues, next resistance is expected at 1.5820, followed by 1.5885. In downward direction next support...
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The Daily Forecaster: GBPUSD
08.07.2008 01:17
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In looking at the entire recovery from 1.9363 I am beginning to feel that we have only seen 2 ABC structure and as such there is still risk of a third to complete a triple three. A 61.8% retracement in Wave (x) lies at 1.9636, a 66.7% at 1.9607...
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Asian Market Update
08.07.2008 01:17
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The USD stayed steady ahead of tomorrow's Fed speakers. Chairman Bernanke and Richmond Fed Governor Lacker are slated to speak tomorrow, and many analysts think the USD can take a big knock if their comments fail to support market expectations for rate tightening.
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FX Overnight Briefing
08.07.2008 01:17
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Australian business conditions deteriorated sharply in June as profits and sales fell from the previous month, providing further evidence the economy was cooling and relieving some of the pressure for more rate hikes. The National Australia Bank's index of overall business conditions shed 7 points in June to 0, the...
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