Posted on Saturday, September 22nd, 2012 at 3:40 pm.
As Mervyn King prepares his quill and ink to write what will be his seventh consecutive letter to Chancellor George Osborne, the question is being asked as to how nervous the Bank of England are about inflation. UK inflation is expected to increase further this morning from Junes 4.2% reading. This level is over double [...] Read More...
Posted on Saturday, September 22nd, 2012 at 3:40 pm.
The Euro bounced back from yesterday’s sharp losses ahead of today’s Italian bond auction. The Euro suffered its biggest single day drop against the Dollar for more than a year and may continue to find itself under pressure in the near future. Italian 10 year bonds rose to over 7% yesterday which was the same [...] Read More...
Posted on Saturday, September 22nd, 2012 at 3:40 pm.
EUR/USD tested 4 month lows overnight in the Asian session hitting 1.2905. As I said yesterday I see no reason for optimism on the EUR. Is there a solution to the debt crisis? Answers on a postcard please. On the EUR/USD pair we’ll have a few attempts at 1.29 as there’ll be resistance at the [...] Read More...
Posted on Saturday, September 22nd, 2012 at 3:39 pm.
Investors are now viewing a Greek exit as increasingly likely. With political dynamics shifting, a new Greek Government will have to interact with left wing parties that will call for a renegotiation of Greek terms with the Troika. I see a breakdown in said negotiations leaving Greece cut off from funding and thus, in all [...] Read More...
Posted on Saturday, September 22nd, 2012 at 3:39 pm.
EUR/USD is struggling to break in either direction. We reached a high of 1.2623 on early morning trade yesterday and then we dropped down to around the 1.2530 level. It’s struggling to break through the psychological level of 1.25. I fully expect us to break this with a continuation down to around 1.2380. We’ve had [...] Read More...
Posted on Saturday, September 22nd, 2012 at 3:39 pm.
Yesterday was very flat compared to last week’s excitement with rates trading within quite a narrow range. There was very little data out yesterday which is the likeliest reason why it was so quiet with most market attention being focused on the problems with Facebook’s IPO. Yesterday was very flat compared to last week’s excitement [...] Read More...
Posted on Saturday, September 22nd, 2012 at 3:38 pm.
Last week’s Euro rally seems to have been short lived as the seventeen nation currency has started to lose ground already against many of its major peers. Last week European Central Bank president Mario Draghi boosted short term confidence in the Euro after stating that the ECB would do whatever was necessary to bolster the [...] Read More...
Posted on Saturday, September 22nd, 2012 at 3:38 pm.
Yesterday ECB president Mario Draghi pledged the ECB’s support for the single currency. Draghi declared he is “ready to do whatever it takes” to ensure the survival of the Eurozone. As expected markets across the board reacted positively to the news, the EURO/ USD jumped 1.2 per cent from a session low of 1.2116 to [...] Read More...
Posted on Saturday, September 22nd, 2012 at 3:38 pm.
Another day another level gone. We pushed through the 1.24 level yesterday as EUR/USD hit just under my forecasted target level of 1.2380. Will there be any let up for the EUR? Short to medium term, not likely. As I’ve said before, we’ll see bounces on an intraday basis and if traders are brave enough [...] Read More...
Posted on Friday, July 27th, 2012 at 9:22 am.
Yesterday ECB president Mario Draghi pledged the ECB’s support for the single currency. Draghi declared he is “ready to do whatever it takes” to ensure the survival of the Eurozone. As expected markets across the board reacted positively to the news, the EURO/ USD jumped 1.2 per cent from a session low of 1.2116 to [...] Read More...