Posted on Thursday, May 10th, 2012 at 1:23 pm.
EUR/USD has broken through the 1.30 barrier and hit the 1.2910 level in yesterday’s trading. In the overnight Asian session the pair was capped at 1.2968 and there’s been further downside pressure in early London trading. We’re currently quoting around the 1.2940 level. I see a further push lower with a break below 1.2910 opening [...] Read More...
Posted on Monday, March 5th, 2012 at 3:40 pm.
Last week’s Dollar rally looks set to continue again as concern over the future of the Euro zone continues to increase. The Greek concern still remains as the possibility of a default is still on the cards and question marks over where we will see growth in the Euro zone will weigh heavily on the [...] Read More...
Posted on Friday, February 17th, 2012 at 2:13 pm.
De ja vu appears to have struck us again as it was announced this morning that Greece expect to agree a deal with Eurozone finance minister’s over the weekend, we’ve been here before. At the risk of repeating ourselves again I think we will leave the Greek situation there and move onto to other news, [...] Read More...
Posted on Thursday, February 9th, 2012 at 9:54 am.
The Greek plot thickens. At around 1am this morning reports surfaced that the Greek meeting had broken up and talks had been inconclusive with one key austerity measure yet to be resolved. So much for the imposed deadline! The Troika is set to meet with the Greek PM (again). These ‘talks’ are getting a tad [...] Read More...
Posted on Wednesday, February 8th, 2012 at 11:32 am.
The Euro staged a significant rally yesterday on speculation that Greece has started to make the right moves towards receiving its next bailout package. This increased demand for the single currency and alleviated some fears of Greece leaving the single currency. Despite protests outside the Greek parliament yesterday by union members and a 24 hour [...] Read More...
Posted on Monday, February 6th, 2012 at 11:33 am.
Still no deal from Greece with its private creditors is starting to weigh heavily on the Euro. The Euro declined against most of the other major currencies and could continue to do so until there is some clarity on Greece’s position. A default still hasn’t been ruled out and if Greece can’t satisfy both its [...] Read More...
Posted on Thursday, February 2nd, 2012 at 11:46 am.
Risk on sentiment has returned. EUR/USD was down at 1.3030 yesterday and then spiked around 1.3210, with 1.3220 being a key level preventing any further moves higher. We were down to near the 1.30 level in the Asian session as renewed uncertainties over the Greek deal surfaced. Early in the European session yesterday sentiment toward [...] Read More...
Posted on Tuesday, January 31st, 2012 at 11:15 am.
EUR/USD retreated yesterday from a high of 1.3221 down to 1.3078 however we saw some buoyancy on the single currency and it pushed back up to 1.3197. We had German Retail sales out this morning that disappointed with a contraction in December on both a monthly and annual basis. The market was expecting growth. We [...] Read More...
Posted on Wednesday, January 25th, 2012 at 10:41 am.
The Japanese Yen has hit the headlines as Japan posted its first annual trade deficit since 1980. Japanese exports have declined for a third straight month and concern is growing over the countries financial health. We have seen the Yen weaken by over 3% against Sterling in the last week and by over 4% against [...] Read More...
Posted on Wednesday, November 9th, 2011 at 2:03 pm.
Italy’s focus now moves to forming a new Government to implement tough austerity measures after Berlusconi’s offer to resign. His offer to resign came after he failed to gain an absolute majority on a routine parliamentary ballot. Markets dictated his resignation to a degree as Italian bond yields came close to the 7% level and [...] Read More...