Last minute deal has been struck to increase the US borrowings by President Obama, but the street seems to be more concerned about the weakening of the US economy which resulted in sell off for the straight...
The US economy will be publishing several reports today, most importantly is ADP’s publication of Non-Farm Employment Change for the private sector at 13:15 GMT. The employment data is a foreshadowing of Friday’s Non-Farm Payrolls (NFP) data.
The pair has been under intense pressure yesterday dropping 300 pips from its 1,10 level.
We continue to see the pair being well bid after its bounce on top of 0,94 from last week.
The Swiss Franc continues to be agressively bought and we might wonder when this impressive trend will stop.
After an acceleration of the decline, we are starting to see some choppy price actions with market partcipants watching for a possible intervention of the Bank of Japan which always moves the market significantly.
The Cable has retraced almost 38% of its rally started on July 12. A resumption of the uptrend is now possible with a first target at recent high (1,6480).
The market is still carving out a new lower top on the daily chart which might lead the EUR/USD toward the key support at 1,40 coinciding with the 20 moving average.
Greetings. Let’s take a look at the USD/CHF. We see a lot of talk about how much further can the USD/CHF pair go?
Market Review – 02/08/2011 21:57 GMT Swiss franc surges to fresh highs on concerns over global economic growth and debt level The Swiss franc rallied against the dollar and euro to fresh all-time highs Tuesday on risk...
