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INTRA-DAY EUR/USD OUTLOOK

Last Update At 31 Aug 2011 06:03 GMT

Rate : 1.4445

Current rebound after the release of better-than-
expected German retail sales data suggests choppy
consolidation abv y'day's low of 1.4385 wud con-
tinue n gain twds 1.4465 cannot be ruled out, how-
ever, reckon 1.4485 wud cap upside.

Below 1.4418 wud signal recovery is over instead,
bring resumption of decline to 1.4385 n 1.4357/60.

Range Forecast
1.4430 / 1.4460

Resistance/Support
R: 1.4465/1.4485/1.4507
S: 1.4418/1.4385/1.4357

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Market Review - 30/08/2011 22:00 GMT

Euro tanks on poor EU data and bond auction in Italy

The single currency tumbled on Tuesday as weak EU data and disappointing demand at Italy's bond auction prompted investors to sell euro.

Although the single currency edged higher to 1.4533 at Asian midday following Monday's rise to a near 2-month high of 1.4550, failure to re-test this resistance caused price to retreat at European open, the pair tumbled sharply to 1.4385 due to weaker-than-expected EU data together with the widening bond yield spread (Italian/German 10-year government bond yield spread rose above 300 basis points, the highest since ECB started buying the bonds) but later pared its losses ...

Market Review - 29/08/2011 21:58 GMT

Dollar rises versus yen and franc on risk appetite

The greenback strengthened against the Japanese yen and the Swiss franc Monday due to rally of U.S. and European stock markets as solid U.S. economic data raised investors' appetite to buy riskier assets instead of holding safe-haven currencies.

Versus the Japanese yen, the greenback traded narrowly in Asia on dollar's weakness before dropping to 76.58 in European session. However, the pair climbed to 77.02 in NY morning on risk appetite together with the rally of U.S. and European equities before retreating to 76.81 ahead of NY closing.

The DJI gained 254.71 points, or 2.26%, to 11539.25 ...

Market Review - 25/08/2011 21:58 GMT

Dollar gains ahead of Bernanke's speech at Jackson Hole

The greenback rose against other major currencies on Thursday on renewed risk aversion together with the selloff in U.S. and European equities on speculation that Federal Reserve Chairman Ben Bernanke will not unveil further monetary easing at Fed's annual economic conference in Jackson Hole, Wyoming on Friday.

Versus the Japanese yen, although the greenback dropped briefly from Asian high of 77.15 to 76.85, the greenback rose strongly on renewed cross selling of jpy on speculation that Japan's package may boost USD funding as Japan's $100 billion credit line unveiled on Wednesday for companies investing ...