Friday, 11 December 2009

U.S. trade deficit unexpectedly fell in October:

U.S. trade deficit unexpectedly fell in October it was clear from today's trade ministry data on the country. Contraction of the negative balance is by 7,6 percent to 32.9 billion dollars. This news was supposed to push up the American currency on the market.
However, it was cleared today that applications for unemployment benefits last week rose by 17 thousand to 474 thousand pieces in total. That seemed to have pushed the USD a bit down, shortly after the two indicators were released at the same time.

Thursday, 10 December 2009

EUR/USD analysis:

EUR/USD remains in downtrend. Initial resistance is at 1.4781, as long as this level holds, downtrend will continue and deeper decline towards 1.4626 key support is possible later today.

Tuesday, 8 December 2009

Euro looks in trouble as JPY indicates to start recovering:

The yen tends to strengthen amid economic and financial turmoil because Japan’s trade surplus reduces its reliance on foreign capital. Japan’s government also today unveiled a 7.2 trillion yen economic spending package.

Daily support and resistance points EUR/USD:

Daily Points: S 1.4605 S 1.4681 S 1.4753 P 1.4829 R 1.4901 R 1.4977 R 1.5049

The dollar rose sharply on Friday:

The dollar rose sharply against a basket of currencies on Friday, registering its best daily performance in nearly a year after surprisingly good data from the labor market in the U.S. breathed new hope that the economy is going as a stable path of recovery.