FOREX TRADING

Safe-haven plays were again the dominate theme heading into Europe after Far East equity markets slumped between 1-3%. The German 2-year, 5-year, 10-year and 30-year bonds are all at record lows as was the UK 10-year Gilts. The USD Index again hit fresh 4-month highs. The sentiment improved marginally as

On Friday Dollar/Yen continued decreasing with 65 pips. The currency couple depreciated from 79.46 to 79.12 on Friday, matching the negative money flow sentiment at bellow -28%, closing the week at 78.98. This morning the Dollar is trading quietly against the Yen, with movements at the upper end of Friday’s range for now.

The downtrend from 1.3282 is already over and the pair is in a ranging mode above 1.2640. After today’s precise test of 1.2815 I expect a few ranging swings above 1.2740 support, before next leg upwards, to 1.2910 resistance zone.

Over the past couple of weeks, we have seen a couple of important measures in respect of the financial turmoil – measures that we have called for here in the second quarter. We expect that the situation is far from being resolved yet, but in the very short term many

After China’s premier called for additional efforts to support growth, Thailand’s economy grew firmly in Q1 and world leaders urged Greece to stay in the euro zone, Asian stocks recovered some of last week’s losses, the yen slid while commodities gained.

On Friday, the decline of the euro halted and EUR/USD succeeded a cautious rebound, even as uncertainty on the EMU debt crisis persisted. Technical considerations will also dominate trading today as the G8 meeting provided no high profile measures to address the debt crisis.

On Friday Pound/Dollar bounced up, increasing with 100 pips. The Cable appreciated from 1.5731 to 1.5834 on Friday, in converse with the negative money flow sentiment at almost -9%, closing the week at 1.5816. Today the British Pound strengthened further, ascending up to 1.5840, than began dropping.

The euro (EUR) edged higher to 1.2812 rebounding from a four-month low at 1.2641 against the US dollar. The single currency tumbled on Friday on concerns over Greece’s political uncertainty as well as growing instability in the Spanish banking sector. European leaders of G8 met during the weekend to discuss

The currency couple is presently undergoing a bullish correction following its precipitous fall from a downtrend resistance at 1.3252. EUR/USD may attempt to test 1.2903/17, but is unlikely to extend gains above this level, which, in turn, will lead to continuation of a bearish move towards 1.2509, en route to

Extends the near-term recovery above initial barriers at 1.2750 zone, after temporary footstep was found at 1.2640, last Friday. Bounce from here briefly broke above 1.2800 barrier, also Fib 23.6%, where descending trendline, connecting 1.3282/1.3177 tops, limited gains at 1.2811, with corrective easing on overbought hourly studies under way. Dips

Asian markets performance was slightly higher with a slight rebound in risk appetite. Nikkei gained 0.26%, Shanghai SE Composite 0.30% and the ASX 200 0.67%. With Chinese PM Wen reassuring the markets saying that growth remains a priority, the CNY fixed at 6.3116, 93pips lower than Friday’s level and undershooting

European stocks edged lower after Fitch downgraded Greece’s credit rating to ‘CCC’, implying that the country is vulnerable and highly dependent on favourable economic conditions to fulfill its financial obligations. Meanwhile, Moody’s cut ratings of 16 Spanish banks and put 10 banks on negative credit watch. The benchmark Stoxx 600

Dollar-Swiss has risen well breaking above 0.9300 last week as we had expected. However, it failed to extend its upmove above 0.9500 and came off towards the end of the week. The overall picture is still bullish, but we are not sure as what would be the extend of the

Good morning from beautiful Hamburg and welcome to our first Daily FX Report this week. After the latest news, the signs for a Greek exit out of European Union increased and raised the downward pressure on the EUR, especially, as experts feared an irretrievable shortfall below its long-term average.

The EURO closed higher due to short covering on Friday as it consolidates some of this month’s decline. The highrange close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If