Daily forex forecast - 07/5/2010 Disappointing Retail Sales data saw the AUD move lower in Asia yesterday falling from 0.9090 to enter offshore exchange hovering on the precipice of the psychological 90 cent level.Dollar and Yen Soar as Markets Panic, DOW Drops 998 Before Closing Down -347 PtsDollar and yen surge in US session as risk averse investors rush out of stocks today on deep worry that debt problems in the Eurozone will hit the global economy. Investors are clearly dissatisfied with the lack of action from ECB and Trichet's comment that there was no discussing on bond purchase was a big disappointment.Euro plunges on lingering Greek contagion fears and 9% slump in U.S. stocks - May 6Euro extended its recent weakness and fell across the board on continuing contagion fears after ECB's Trichet failed to ease investor's worries on the Greek debt crisis and he didn't take fresh measures to help stem Greece's debt crisis. A sharp and sudden selloff in US stocks also sparked off more ...Dow jones fall by 1,000 points on Europe's present financial troubles!!!The U.S stocks fell deeply today, having the Dow industrials droping by almost 1,000 points as a result of the current Europe'sfinancial troubles that affected directly and negatively on Wall Street to have the the Dow Jones reach a low of 9869.Breaking News: The Yen, Dollar and Gold are the biggest winners from the Greece crisisBlack Thursday for the bourses is today. The market reacts to the escalating Greece crisis. The strike in Greece with the demonstrations in Athens pushes the investors to safe investments. The big winners from the escalating crisis in Europe are the Japanese Yen following by the dollar and Gold. The cable loses over 450 pips for the last 24-hours following by the euro losses of over 300 pips. The yen gains against the dollar over 600 pips for less than 7-hours. The Dow Jones down below 10 000 as...EUR/USD: Weakness To Extend To 2009 Low At 1.2455 With a respite yet to be seen, risk continues to point lower suggesting we may see a retest of its 2009 low at 1.2456. Its medium term bearish structure remains supportive of this view. However, before that huge support level stands another one at its Mar 08'09 low at 1.2555. Furthermore, the 1.2456 level is a major support level and should offer a significant support if tested. EUR/USD Daily Review 6 May 10
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Good day everyone.
Today is Thursday and once again we are approaching the end of the week. Hopefully you are green in profit!
Yesterday we noted that the strikes in Greece were getting worst and it even resulted in three deaths. A comment was made that there was a threat that [...]The Euro continues to sink against the DollarThe European sovereign debt problems continue to weigh on investors' risk appetite, where concerns from Greece's debt spreading to other nations in the continent hammered down investors' demand on risky assets for the fourth consecutive trading day, where the only refuge remains the greenback, suppo... A Preview of Tomorrow's Non-Farm Payroll Report It may be lost in all the attention focused on Greece and contagion in the Euro-zone, but tomorrow The Bureau of Labor Statistics will release the April non-farm payroll number. The report is being overshadowed by the sharp sell off in the Euro, a third straight day of sliding US equity markets, and an upcoming German vote on the Greek bailout, which adds up to many cross-currents in the forex markets. However a strong jobs report could help to reinforce the momentum behind the US recovery and g...Forex Trading ideas for USD/CHF, GBP/USD and AUD/USDDollar-Swiss touched a high of 1.1246 in the Asian Session today but is currently trading below 1.1100. The pair has seen some sharp moves in the past few sessions and may take a dip towards 1.1000 in the coming sessions over today and tomorrow, followed by some sideways movement in the range of 1.1000-1100 over the next few days.Daily Foreign Exchange Market SummaryThe US dollar gained across the board as the greenback continues to benefit from safe haven flows as the situation in Greece remains uncertain. The market will turn its attention to non-farm payroll data which is expected to come in at 177,000 + jobs tomorrow. ECB Conference - Is No News Bad News?According to the forex markets lately, the answer to that is probably yes. The ECB has announced on Thursday that its benchmark policy rate remains unchanged at 1%, as was widely expected. In the Conference that followed the announcement of the euro area interest rate, ECB President Trichet failed to supply any new strategy on how to contain the ongoing credit crisis with Greece, that is threatening to spread to other eurozone states as well. Investors were looking for any comments on outright s...ISE FX Australian Dollar: rebound in sight.Update on supports and resistances.IB Interest Rate - Brief Clouds remain over EurozoneWhen ECB President announced in January that the central bank would not change its collateral policy at the end of 2010 for "the sake of any particular country," his rigid remarks helped turn the thumb screws on Greece. And although he recently did buckle on the issue, probably as part of a broader strategy to coincide with an IMF and EU-wide bailout plan, his remark can be viewed through different spectacles. The ECB will now accept weaker collateral for the sake of many countries. The gravity ...ISE FX Canadian Dollar: bounce.Update on supports and resistances.