Recent content by fxmaster1

EUR/USD Despite the desperately needed improvement in the IFO report, the euro’s fortunes were sullied by the PBC comments. The pair faces its interim support at 1.1980, backed by 1.1950 and 1.1920. Upside starts 1.2061—the rise from the 1.1872 low to the 1.2254. Key resistance stands at...

EUR/USD The USD slipped after key US jobs figures came in below analysts' expectations. Although the report came as something of a disappointment to dollar bulls, it is not likely to make a serious dent in the current positive sentiment towards the US currency.the 1.2050 level will continue to...

GBP/USD The dollar stabilized off its session lows following today’s coordinated bomb blasts in London, which were reported to have resulted into the death of about 50 people and about 1000 injured. Currency market reaction was not swift as it took nearly an hour before the first blast was...

EUR/USD One day after Germany's IFO survey showed an improvement in business, the GfK consumer confidence index for July dropped more than expected, reaching 3.5 from May's 4.3. But the euro could garner some support after the Eurozone 3-month moving average for M3 growth rose to 6.9% from...

EUR/USD Germany’s IFO survey rose to 93.3 in June from 92.9, showing its first increase after 6 monthly declines. Rate cut speculation was curtailed after ECB officials dismissed the need for a rate cut this weekend with Executive Board member Smaghi indicating that lowering interest rates...

EUR/USD The euro revisited last week’s low for the year of $1.216 amid deteriorating consumer confidence in Italy. The report showed that the Eurozone’s 3rd largest economy deepened further into recession, further giving rise to speculation of an ECB rate cut. Although the ECB seems to have...

EUR/USD The euro declined this morning after Sweden’s central bank cut interest rates by a larger than expected 50 BP. The market had anticipated a cut of 25 BP, but citing an economic slowdown within the Eurozone, the Riksbank decided to lower rates to 1.5% - a new record low. EURUSD tested...

EUR/USD The euro gained more than half a cent in a delayed reaction to the better improvement in the ZEW survey, fading speculation of an ECB rate cut as well as increased signs of a cooling US economy. Germany’s ZEW Economic Sentiment Index rose to 19.5 in May from April’s 13.9, but remained...

EUR/USD Speculation about an ECB interest rate cut made the rounds again, this time amid reports of “unidentified” ECB sources citing a possible change in policy in Frankfurt. The euro’s latest gloom was intensified by the failure of the talks in the EU Budget talks where lack of consensus...

EUR/USD The euro rose and held above the 1.2100 level with much help from the dismal Philly Fed index and comments from Buba Chief Weber calling the current monetary policy “appropriate” and “expansive”. Weber’s comments poured cold water on recent speculation that the ECB is positioning...

EUR/USD The dollar’s 9-month high run against the European currencies spilled onto the yen, dragging the Japanese currency past the 109 support and onto a fresh 9-month high. In addition to seemingly dovish comments from ECB Chief Economist Otmar Issing today, last week’s softer than expected...

EUR/USD The dollar held steady across the board as Fed Chairman Alan Greenspan stuck to the Federal Reserve’s script of measured tightening and relatively optimistic economic outlook. Since Greenspan signaled no hints of an imminent halt in its rate hikes, fed funds futures preserved...

EURO/USD One day after Euro finance ministers rejected reports of Italy’s break away from the Euro, the focus shifted to ECB Chief Trichet and ECB Chief Economist Issing. After making remarks that encouraged the increase of personal spending, Trichet sought to clarify any misinterpretations...

EURO/USD The euro stabilized above the 1.2250 figure as EU finance ministers rushed in to play down reports of Italy’s break away from the Euro. Support at 1.2200 Resistance remains at 1.2380 USD/JPY Breaching below the 107 figure for the first time since May 19, USDJPY sees support...

EURO/USD Remarks from Italy's welfare minister calling for a referendum to see whether Italians want to temporarily bring back the lira. Although we see the chances of such a referendum being organized as extremely slim, the market reaction to the statement is considerable. Support at...