The U.S. dollar remained broadly lower against its major counterparts on Monday, as a lack of progress in talks aimed at raising the U.S. debt ceiling added to fears over a possible default, boosting safe haven demand.
During early U.S. trade, the greenback was fractionally higher against the euro, with EUR/USD dipping 0.03% to hit 1.4354.
Earlier Monday, ratings agency Moody's cut Greece’s sovereign debt rating by three notches to Ca, just one notch above default, after euro zone leaders last week agreed to another EUR109 billion in aid...
Monday, July 25, 2011
Technical Analysis for Major Currencies
EURO
The European currency saw the tendency to move towards the downside hitting the key support at 1.4100, then it managed an upside move until the levels of 1.4130s. Nevertheless, the upside potential is still possible and the Euro just consolidated at the top to gather some strength to move in a bullish trend again.
The trading range for today might be between the key resistance level at 1.4220 and the key support level at 1.4060.
The general trend is up as far as 1. 3270 remains intact targets now at 1.4050 and 1.4220.
Support: 1.4100,...
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Swiss Franc Soars on Greece Downgrade, Uncertainty Over U.S. Debt Deal
The Swiss Franc found robust strength in the Asian and European sessions as investors sought safe haven amid the Moody’s downgrade of Greece as well as developing concerns that U.S. government might default on its debt. The Franc moved back towards its record high against the Euro, with the pair falling as low as 1.1530 in pre-North American trade. The all-time low was set last Monday, at 1.1369....
Saturday, July 23, 2011
Euro Posts Weekly Gain After Two Weeks of Losses
This week was “a mixed blessing” for the euro. For the most part, the currency showed a good performance as worries about the debt crisis subsided, but by the end of the week concerns returned.
The summit of the European Union leaders caused optimism among Forex traders, who anticipated some cohesive plan for dealing...
Euro Drops as Optimism Caused by EU Summit Wanes
The euro declined today on concerns that measures planned by the European leaders on the summit yesterday wouldn’t be enough to contain the sovereign-debt crisis.
The European lawmakers agreed to provide additional aid for Greece, expand the Eurozone bailout fund and allow to use it for purchasing bonds of indebted...
Police arrest 3rd teen in heist of euro stash
STATEN ISLAND, N.Y. -- A third teen has been arrested and accused of breaking into an Annadale acquaintance's home and stealing euros and U.S. cash.
Francisco Berardi, 17, of Galloway Avenue, Port Richmond Center, was arrested Tuesday in connection with the July 6 heist.
According to court papers, Berardi and alleged accomplices Michael McQuillen and Raymond Burt drove to the residence shortly after 1 p.m. Berardi remained in the car as a lookout while his pals entered and snatched $1,065 in European Union currency and $6,000 in greenbacks,...
Forex: NZD/USD ends week with a gain of 200 pips
FXstreet.com (Córdoba) – The Kiwi was among the best performer in the currency market and confirmed its strong momentum. NZD/USD reached a new all time high on Friday at 0.8670 and retreated afterwards to finish the week around 0.8640. The pair posted the fourth weekly gains in a row and has risen 650 pips since June 27.
The appreciation of the Kiwi across the board and outperforming other high yield currencies, has been supported by macroeconomic data.
NZD/CAD rose above 0.8200 for the first time since March 2008 while AUD/NZD posted...
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