- EURUSD in non trending trading mode
- Post S&P quiet. Week off to a slow start.
- German Finance Ministry spokesman sees no need to act on ESM.
- Italy’s Monti
- Moody’s says France’s AAA rating could come under pressure if debt/GDP ratio continues to rise, and if Euro debt crisis worsens.
- EU’s Corbett
- Fitch revises Russia’s long term rating from positive to stable, the likelihook of an upgrade has receded.
- Merkel, Sarkozy, and Monti are due to meet in Rome on Jan. 20th.
- Senior Greek Finance Ministry official is travelling to Washington Monday for talks with the IMF on a debt swap plan, according to Greek debt agency Chief.
- Greece’s Papademos makes comments on CNBC
- German fin. minister says the guarantees for the EFSF are sufficient.
- Swiss PPI rises 0.3% in December, a 0.3% decline was expected
- German wholesale price index (m/m) 0.0%; worse than expected.
- 1-16 Calender
- The Forex Week Ahead Report (pdf). Webinar at 9:30 AM ET Monday
Posted: 16 Jan 2012 07:22 AM PST
The 1.2682 was the close from Friday and has been a high for today. The 1.2623 was the low from Friday and near the low for the day. The 1.2661/65 were Monday and Wednesday lows. That sits in between the resistance above and support below. Being below the close keeps the bears in charge for the EURUSD. The burden of proof is on the bulls or buyers to overtake the sellers and push the market higher. So far today they have won a battle off the lows, but they have not won any wars.
Posted: 16 Jan 2012 04:38 AM PST
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Usd/Chf trades at .9525, unaffected by number.
Posted: 15 Jan 2012 11:05 PM PST
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The Forex Week Ahead with Greg Michalowski webinar will take place at 9:30 AM ET. To Register, please go to:
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