World / E-commerce
FX Forecast Update: To Catch a Rising Tide
04.07.2008 11:17
actionforex.com
If the relative movements have been difficult to pin down, there is little confusion in our view when it comes to the absolute outlook. Since last autumn, we have warned about the dual shock of financial crisis and economic slowdown. There is still nothing to in-dicate that the financial crisis...
World
E-commerce
U.S. Weekly Wrap-Up
04.07.2008 11:17
actionforex.com
The dollar drifted lower throughout the week ahead of the ECB interest rate decision and hit fresh 10-week lows against the euro as the pair trended above the 1.5850 level. The USD continued to see verbal intervention, including from some fresh sources. The president of OPEC president noted that a...
World
E-commerce
Euro Correction Unfolding
04.07.2008 09:18
actionforex.com
As we noted yesterday, ?The next 'significant' move should be back to 1.57 (at least). As such, lighten up on longs at this point.? The downward move is unfolding but we continue to believe that it is corrective in nature. As such our bias remains to the long side.
World
E-commerce
Euro Still Smarting From Yesterdays Collapse - What Will Fed Do?
04.07.2008 09:18
actionforex.com
A day after the 200 point collapse EURUSD bulls continued to lick their wounds as the pair tried to consolidate around the 1.5700 level in quiet holiday trade. Today's July 4th celebration in US will most likely result in a lackluster North American session with little flow as dealing desks...
World
E-commerce
Weekly Economic and Financial Commentary
04.07.2008 08:18
actionforex.com
As expected, the European Central Bank (ECB) raised their overnight lending rate by a quarter percentage point this morning. The reaction in the foreign exchange market was a bit of a surprise, with the dollar strengthening. This should curb some of the calls for the Federal Reserve to follow the...
World
E-commerce
Technical Analysis Daily: USD/JPY
04.07.2008 07:24
actionforex.com
The US Dollar rose significantly yesterday against the Japanese Yen from yesterday's bottom 105.80 to the top 106.90, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues, next resistance further up is expected at 107.45, the break of which would...
World
E-commerce
European Market Update
04.07.2008 07:24
actionforex.com
The ECB's Mersch said overnight that an ECB rate hike will not throttle growth, adding that inflation expectations are mounting and pose a dangerous situation. Mersch added that he cannot see any evidence of credit shortage in Europe. Mersch later said that ECB rate increase lowers inflation expectations. Mersch noted...
World
E-commerce
Steady Markets...
04.07.2008 07:24
actionforex.com
The U.S financial markets are closed today due to the Independence Day Holiday as markets are steady due to low volume of trading as it was a tough week for the greenback especially as we saw yesterday that the labor market is still soft while investors remain worried about the...
World
E-commerce
US Employment Falls Again
04.07.2008 07:24
actionforex.com
Concerns over the US economy are likely to prevent strong dollar buying support in the short term with a period of nervous consolidation realistic. The monthly US payroll report was close to expectations with a decline of 62,000, the six consecutive decline, while the May data was revised to show...
World
E-commerce
GBP/USD Daily Outlook
04.07.2008 07:24
actionforex.com
Cable's retreat from 2.0006 continues and is still pressing mentioned inner channel support (now at 1.9843). Further consolidation could still be seen with risk mildly on the downside. But still, downside should be contained well above 1.9586 support and bring another rally. Above 2.0006 will indicate that rise from 1.9408...
World
E-commerce
Daily Technical Strategist
04.07.2008 05:45
actionforex.com
EUR collapsed off its intra day high of 1.5908 Thursday through the 1.5842 level, its Jun 09'08 high to close the session at 1.5685.Overbought unwinding has been triggered as its stochastics has turned lower from its overbought territory indicating that lower prices could be seen in the days ahead. In...
World
E-commerce
Currency Technical Report
04.07.2008 05:45
actionforex.com
EUR/USD : The decline yesterday led euro to important support levels, where a retracement is possible. For long term sell positions, we will use the retracements towards 1.5800 area, with stops above 1.5855 or above yesterday's tops and target at 1.5450. For the short term, sell positions could be tried...
World
E-commerce
Euro Trades Low Against The Dollar As Trichet Rules Out Anymore Hikes
04.07.2008 05:45
actionforex.com
The euro headed for a weekly decline against the dollar on speculation a weakening European economic outlook will rule out future interest-rate increases. The Euro traded near a one-week low against the dollar after European Central Bank President Jean-Claude Trichet said he has 'no bias' and that economic growth is...
World
E-commerce
Technical Analysis Daily: GBP/USD
04.07.2008 05:45
actionforex.com
The British Pound continued consolidation against the US Dollar but also descended significantly yesterday from yesterday's top 1.9939, down to the bottom 1.9802, which are the the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.9735, followed...
World
E-commerce
FX Trading Subdued
04.07.2008 05:45
actionforex.com
FX markets were relatively stable in Asian session as yesterday's volatility seem to have driven more then just the US participant to start their weekend early. EurUsd climbed tentatively back above the psychological 1.5700 level while UsdJpy bounced around 106.60 / 106.80 levels. Carry trades picked up a slight intraday...
World
E-commerce
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