December 18th, 2008 at 06:59am Under Uncategorized
AUDUSD break above 0.7014 key resistance, suggesting that the long term downtrend from 0.9849 (July 15 high) has completed. Further rise is expected to 0.7500 zone in next several days. Near term support is now at 0.6700 and followed by 0.6486.
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December 18th, 2008 at 06:59am Under Uncategorized
. Bias: The short term is mixed but I still see the larger risk as higher
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December 18th, 2008 at 06:59am Under Uncategorized
—————————————————- Update Time: 17 Dec 2008 15:04GMT EUROPEAN CLOSING USD/JPY OUTLOOK - +87.40+ As dlr has fallen again after brief recovery, suggesting recent decline remains in progress n fur ther weakness to 87.40 wud be seen, however, o/sold condition shud limit downside to 87.00 n risk fm there has increased for a rebound later. Sell again with stop as indicated, break wud risk correction to 88.40/50… Rate:
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December 18th, 2008 at 06:59am Under Uncategorized
USD Rout Continues U.S. Dollar Trading (USD) the market was relentless in its punishment of the USD yesterday pushing past 1.4000 and not stopping until resistance at the 1.4425 level. As Selling accelerates many are now calling this reversal a new trend and targeting previous levels of USD weakness. US Current Account deficit fell to 174Bn vs. 180Bn previously. The selling is technically oversold but has shown little sign of waning. Oil fell sharply as the OPEC cut under whelmed the market
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December 18th, 2008 at 06:59am Under Uncategorized
Dollar Falls Further The dollar declined against its rivals on Wednesday following yesterday’s historic Fed monetary easing decision. The euro had another huge gain and the yen rose to a 13-year high against the greenback. However, the repatriation flow and carry-trade unwinding that had supported the yen against the dollar and other currencies have stopped as the yen has lost ground against other major currencies, indicating that the move is related to the US monetary response to the worst
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December 18th, 2008 at 06:59am Under Uncategorized
INTRA-DAY AUD/USD OUTLOOK : 0.7064 Updating time : 17 Dec 2008 23:07 GMT Although aussie has traded with a firm under- tone after y’day’s rise to 0.7055 n marginal gain abv 0.7080 (Aust.) cannot be ruled out, loss of momentum shud prevent strg move abv 0.7100 in Asia n yield pullback later. Stand aside n look to buy on dips as only be- low 0.7011 wud risk retreat to 0.6965/70… Range Forecast 0.7040 / 0.7080 Resistance/Support R: 0.7127/0.7150/0.8200 S:
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December 18th, 2008 at 06:59am Under Uncategorized
How Much Further Can the US Dollar Fall? With dollar denominated assets yielding next to nothing, we have continued to see money flow out of the US dollar. The greenback fell to the lowest level against the Euro since September and dropped to a new 13 year low against the Japanese Yen. The losses have been even more staggering since the beginning of the month. The dollar has fallen 14 percent against the Euro and 8 percent against the Japanese Yen. This significant sell
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December 18th, 2008 at 06:59am Under Uncategorized
The USD crumbled further today in NY trading as concerns over exploding US budget deficits led to a further exodus from the greenback. EUR had its’ largest one-day move higher against the USD since its 1999 creation, rising from near 1.4100 to a peak around 1.4440 before falling back into a consolidation range near the highs. USD/JPY also plumbed 13-year lows, falling as low as about 87.15 from NY opening levels around 88.50. Newswires reported a shift from Japan’s Fin. Min.
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December 18th, 2008 at 06:58am Under Uncategorized
The Current Account Deficit Shrinks in Q3, Declining Trend of Foreign Investment Poses a Threat to the Dollar The U.S. current-account deficit of the U.S. economy narrowed to $174.1 billion during the third quarter from $180.9 billion in the second quarter. The current-account deficit as a percent of GDP decreased to 4.8% in the third quarter vs. 5.1% in the prior quarter. In the first three quarters of 2008, foreign assets in the U.S. increased $607.4 billion compared with a gain of $1.67
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December 18th, 2008 at 06:58am Under Uncategorized
12/17/2008 3:05 PM: EUR/$..1.4341 $/JPY..87.84 GBP/$..1.5472 $/CHF..1.0786 AUD/$..0.7003 $/CAD..1.2008 USD Sell-Off Accelerates Traders continued to punish the greenback following yesterday¡¯s unprecedented rate cut by the FOMC to lower its key interest rate to a target range of 0 to 0.25%. The dollar plunged to a fresh 13-year low against the yen at 87.16 and a new two-month low versus the euro, losing nearly 5-big figures for its largest one-day decline to 1.4437. With the Japanese currency
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