The New Zealand dollar is deemed to continue weakening opposite the US dollar today as bleak economic data and a downgrade of Spain’s credit rating are presumed to deter demand for commodity-linked currencies.
News out of Europe affected yesterday’s trading as most major pairs turned bearish due to concerns about Spain and Greece. A speech from European Central Bank President Draghi during morning trading kept the major pairs from huge...
The EUR/USD pair fell precipitously from the 1.30 handle on Tuesday in order to test the uptrend line that has been driving this market higher sense the middle of July. This move wasn’t much of a surprise...
The USD/JPY pair had a negative session on Tuesday, which of course should have been much of surprise. After all, we were towards the top of the consolidation range, and it doesn’t look like there is a...
The GBP/USD pair fell precipitously during the session on Tuesday as the “risk off” fell apart. The pair closed the session at the 1.60 level, but also closed the very bottom of the candle. This has is...
The AUD/USD pair had a slightly positive session during the Tuesday trading day, but the 1.02 level looks to be resistive. With this in mind, we cannot help but notice that this pair has struggled recently, and...
The USD/CAD pair bounced around below the 0.98 level during the session on Tuesday as the market tries to figure out its next move. We believe that the 0.98 level will be the epicenter of consolidation in...
The Eurogroup officials said on Monday that Spain does not need a bailout as of the moment, adding to uncertainties as to when the debt-stricken country would ask for financial aid.
The US Dollar traded depreciated across the board on the event of profit taking witnessed in most of the asset classes, especially in the benchmark equity index of the Dow Jones Industrials (DJIA).
Market review for 08.10.12: Although, many markets were closed today, there were some movers and actions. Asian and European trading sessions:
