- Dollar squeeze continues
- Eurozone Consumer Confidence comes in at -20.6 according to news report
- EURUSD consolidates in NY trade
- Bobbys Corner-Open Market-January.23.2012
- Canada Leading Indicators comes in higher at 0.8%.USDCAD weaker
- Canada Leading Indicators Data Released Higher Than Expectations Today at 0.8%, Revision Also Higher 0.9%
- EU Rehn says Greek talks can conclude Private Sector Involvement talks this week
- EURUSD breaches 1.3000 for the 1st time since January 4th
- Belgiums Di Rupo need to use existing EFSF and ESM firepower
- Spain’s Q4 GDP falls 0.3% vs. prior quarter, according to Bank of Spain
- The Forex Week Ahead
- 1-23 Economic Calendar
- Aussie Above Trendline
- USDSGD Below Support
- EURUSD Gaps Lower But Holds
Posted: 23 Jan 2012 07:22 AM PST
The EURUSD has continued the squeeze higher. The pair moved to another high for the dayafter consolidating for an hour or so in NY trade. The.market is short and as a result it becomes sensitive to good news. If Greece is thought to come to an agreement, if Consumer Confidence is a touch better, if stocks move higher, if a trendline is broken - all have the potential to move the price higher with a short market. That is what we are seeing.
Posted: 23 Jan 2012 07:15 AM PST
This is a correction to what was originally reported at 10 AM of -21.0. (expected -21.4). The 2011 low came in December at -21.3. Prior to that, the most recent low was at -22.0 in August of 2009.
Posted: 23 Jan 2012 06:20 AM PST
The EURUSD has consolidated at the top of the days trade. There is some lower highs in place but so far, no lower lows on the intraday chart. A move below the above trendline support at the 1.3010 wil need to be made followed by moves below recent lows in the same chart. The 1.3007, 1.2997 and the 1.2984 prices which need to be taken out. The high from last week came in at the 1.3084 level. This will be a key level for any sellers .
Until these low levels can be broken the upside buyers remain in charge. The topside target comes in at the 1.3068 area (see hourly chart below). The 1.30848 level is the midpoint of the move down from the December high to the January low.
Posted: 23 Jan 2012 05:59 AM PST
Asian trading was muted as the start the Chinese New Year kept many Asian market participants away.
In a move that has been anticipated- EU Foreign Ministers announced that there will a ban on Iranian oil imports beginning July 1st in an effort to pressure the nation to contain its nuclear program. The EU will try to put measures in place to ease the pain of an embargo for some countries, like Greece
Equity markets are higher-as are US Futures.
Oil, Gold and silver are all higher.
HAVE A GREAT DAY & GOOD LUCK
Posted: 23 Jan 2012 05:40 AM PST
The expectation was 0.6%.
The USDCAD has moved sharply lower today breaking below channel trendline support – accelerating the move down. The 38.2% of the last major move down today comes in at the 1.0101 level. The underside of the broken trendline comes in at the same area.
On the daily chart the low from December and early November comes in at the 1.0051 and 1.0053 level respectively. This area should provide good support for the pair.
Posted: 23 Jan 2012 05:33 AM PST
Posted: 23 Jan 2012 05:18 AM PST
How many times does the same thing have to be said.
Posted: 23 Jan 2012 05:09 AM PST
Posted: 23 Jan 2012 04:13 AM PST
Meanwhile IMFs Lagarde says Europe should increase size of ESM. Would like to see fund to be raised by up to 500 billion. This would help in combating risks to Italy and Spain.
Posted: 23 Jan 2012 01:04 AM PST
Eur/Usd is off slightly to 1.2918.
Posted: 22 Jan 2012 09:24 PM PST
Posted: 22 Jan 2012 08:51 PM PST
Posted: 22 Jan 2012 05:45 PM PST
Posted: 22 Jan 2012 05:34 PM PST
Posted: 22 Jan 2012 05:22 PM PST
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