Post Tagged with: "EUR/USD"
EUR/USD: Trading the Philadelphia Fed Manufacturing Index
The Philadelphia Fed Index is one of three key manufacturing reports coming out this week, as we head into Q4. The manufacturing sector is an important component of the economy and the index provides a useful reading for determining whether the economy is in a growth or contraction phase. An actual reading which exceeds the
WSJ: BNP Paribas Executive Admits “Access Denied” For Dollars
We already knew that European banks and French banks in particular had trouble accessing US money markets. But now, an anonymous executive in France’s largest bank, BNP Paribas, admitted that the bank has no access to dollars. Quite worrying. Shares of BNP Paribas continue their downward spiral once again, and lose another 9%. Other French
EUR/USD: Trading the European Industrial Production
The European Industrial Production index measures production in the important sectors of manufacturing, energy supply and mining. An increase from the previous reading is an indication of growth in the European economy, which would reflect positively on the Euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Wednesday at 9:00 GMT. Indicator
EUR/USD Pushes Higher on New Greek Hopes
The property tax suggested by the Greek government probably worked out well for them: the upcoming tranche of aid will likely be approved for Greece, saving the country from default in October. While this move isn’t very popular in Greece, EUR/USD is pushing higher, leaving the gap behind for now. The likely approval of the
EUR/USD Gaps Lower on Greek and Bank Troubles
EUR/USD starts off the week with a drop from 1.3649 to 1.36. This comes on the background of an imminent Greek default, despite last minute efforts by Greece to provide more measures. Trouble in the European banking system is also acute. While this is very early trading, it looks like the avalanche continues. Update. The
EUR/USD Dips Into 6 Month Lows as Greece Faces Payment Freeze
EUR/USD dipped into low waters, at levels last seen on March 11th. It temporarily breached the swing low of 1.3838 seen in mid June. Trichet’s soft tone yesterday and increasing worries about Greece are the main reasons for this slide. A failure in a Greek auction increased the prospects of a freeze in payments in
The Dust from Trichet’s Event Settled, But EUR/USD Dives Deeper in the Mud
EUR/USD lost support hours after Trichet’s press conference. It is now slowly but steadily moving lower. The next significant target is the swing low of 1.3838. Below this point, it’s the lowest level in 6 months. Not only Trichet is to blame, but also more scary talk about Greece. Update. EUR/USD has dipped below support
EUR/USD Softens as Trichet Softens Tone and Expectations
Trichet has clearly softened his tone towards inflation and lowered official expectations for growth and inflation. His words are critical for the exchange rate of the euro which is softening as well. EUR/USD fell below support at 1.4030 as Trichet began speaking softly. It is just under the round number of 1.40 and above support at
EUR/CHF Moving Higher – Implications for EUR/USD and USD/CHF
The SNB put a floor under EUR/CHF, at 1.20. In the first hours after the shock the pair was just above this line, as the authorities struggled to stabilize their huge effort. It has now drifted higher, taking a safer distance. What does this mean for USD/CHF and for EUR/USD? USD/CHF This upwards move has
EUR/USD Sep. 7 – Hope Is Very Limited
Euro dollar enjoyed a nice rise in German industrial production and a relief from Germany’s constitutional court, that didn’t reject bailouts. But these gains are limited as the situation in Greece remains very sensitive, especially as the Finnish threats to bail out of the Greek bailout become more serious. Here’s a quick update on technicals, fundamentals