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Market Review - 27/07/2011 22:01 GMT

Dollar rebounds on short-covering despite continued debt limit impasse

The greenback recovered against most of its counterparts on Wednesday but remained under pressure versus the Japanese yen as politicians were no closer to reaching a compromise to raise the debt ceiling. The single currency tumbled due to the comments from German Finance Minister Wolfgang Schaeuble.

The single currency extended its recent upmove to 1.4537 in Asian morning. However, euro retreated sharply from 1.4530 after comments from German Finance Minister Wolfgang Schaeuble who said he rejects carte blanche secondary bond market purchases by EFSF/ESM and that it would be wrong to think ...

INTRA-DAY EUR/USD OUTLOOK

Last Update At 27 Jul 2011 04:59GMT

Rate : 1.4525

As euro has rebounded after a brief retreat fm
1.4537 to 1.4493 in Asia, current price action sug-
gests as long as said Asian morning low holds, re-
test of 1.4537 can't be ruled out, abv wud extend
marginal gain twd 1.4550 b4 correction occurs.

In view of said upside risk, exit short as below
1.4493 needed to signal temp. top, 1.4456/60.

Range Forecast
1.4505 / 1.4537

Resistance/Support
R: 1.4537/1.4550/1.4580
S: 1.4493/1.4456/1.4440

http://www.acetraderfx.com

Market Review - 26/07/2011 22:03 GMT

Dollar weakens broadly on debt limit deadlock

The greenback fell against all major currencies on Tuesday as U.S. lawmakers still could not reach a compromise on raising the U.S. debt limit and reducing the deficit. Usd/chf dropped below 0.8000 level to a fresh lifetime low of 0.7997.

U.S. President Barack Obama issued a warning that the U.S. may experience a 'deep economic crisis' if leaders failed to reach a compromise that would enable the U.S. to raise its debt ceiling and create a plan to reduce the government's borrowing, sparking selling of dollar and spurred demand for safe-haven currencies.

The single currency rallied from Asian ...

Market Review - 25/07/2011 21:59 GMT

Dollar falls on U.S. debt ceiling impasse

The greenback tanked to a fresh lifetime low against the Swiss franc and hit a 4-month low versus the Japanese yen on Monday due to an impasse on raising the U.S. debt ceiling, spurring demand for the safe-haven currencies.

The greenback opened sharply lower against the Swiss franc and nose-dived to 0.8100 on dollar's broad-based weakness together with active cross buying in chf (eur/chf tumbled from 1.1715 to 1.1518) due to worries over the U.S. debt ceiling . Despite dollar's brief recovery to 0.8156 in Asian morning, renewed selling there pressured the pair and price tumbled below previous low of 0.8034 to a fresh ...