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Forex Technical & Market Analysis FXCC Jun 10 2013
EUR/USD still searching for direction after NFP Data
After trading as high as 1.3284 ahead of the US Non Farm Payroll data, the EUR/USD was unable to hold onto early gains and ended the session 68 pips lower 1.3216. The lack of follow through after the sharp gains early in the week is somewhat concerning, but thus far the pair has been able to hold onto the critical support level located in the 1.3200 area. Some
Forex Technical & Market Analysis FXCC Jun 07 2013
Will Non-Farm Payrolls Save or Kill the Dollar?
The big story today in the financial markets was the sell-off in the U.S. dollar. The greenback fell quickly and aggressively against all of the major currencies right around the European close and held onto its losses to end the day down 2% against the Japanese Yen and more than 1% against the euro, British pound and Swiss Franc. There were a few different factors
Forex Technical & Market Analysis FXCC Jun 06 2013
EUR Prime for a Breakout on ECB
The euro is prime for a breakout. Unlike other major currency pairs, EUR/USD traded in a relatively tight range throughout the European and North American sessions. On a technical basis, the currency pair stayed between the 100 and 200-day SMAs for the past 48 hours, which reflects the hesitation of investors who are waiting for a catalyst to take the currency pair out of its range.
Forex Technical & Market Analysis FXCC Jun 05 2013
IMF's Lagarde urges Greece not to relax bailout efforts
MF head Christine Lagarde said in an interview for the Greek state TV on Tuesday that the country was making progress on its bailout program but that it nevertheless should increase efforts to combat tax evasion and implement reforms to attract foreign investors. 'Now is not the time to relax the effort,' Lagarde said, adding that "There are some really
Forex Technical & Market Analysis FXCC Jun 04 2013
Fitch cuts Cyprus to B-, negative outlook
Fitch Ratings has downgraded Cyprus's long-term foreign currency issuer default rating by one notch to 'B-' from 'B' while keeping a negative outlook due to the country's elevated economic uncertainty. The rating agency had placed Cyprus on negative watch in March. With this decision, Fitch pushed Cyprus further into junk territory, now 6 notches. "Cyprus has no flexibility