GBP still faces risk of a decline towards its 2010 low at 1.4782 having weakened for a second consecutive week the past week. Though its price action showed some form of temporary bottoming process on Friday, we will like to see a follow through higher to confirm that. Below the…
Archive for March, 2010
EURUSD: Corrective Recovery Shapes Up
On March - 29 - 2010
Although its broader bias remains lower having declined for the past week, the pair may have triggered a corrective recovery following its sharp rally on Friday. Retention of that tone as we approach a new week will confirm the above view suggesting further up move towards the 1.3568 level, its…
IMF Intervention: Acceptable in the Short Term, But Not a Permanent Solution
On March - 27 - 2010
The dollar has been firm this week. The upbeat equity market could have supported the greenback: the Dow is now heading towards the 11000 mark, and would thus return to pre-Lehman levels. But the main impetus came from Europe. The to-ing and fro-ing in the eurozone on the issue of…
Source:IMF Intervention: Acceptable in the Short Term, But Not a Permanent Solution
Market Weekly Wrap
On March - 27 - 2010
The week in currency trading began on a subdued note as European leaders continued to send out conflicting signals over aid to Greece ahead of Thursday’s EU Summit. Tensions within the EMU were highlighted by comments from the Greek Deputy PM, who accused Germany of letting its banks to speculate…
Source:Market Weekly Wrap
