All Blog Entries

http://www.ablesys.com/fxcm
Join our free webinar http://wintick.com/home/webinarSchedule/

Attached Images

 

[B]The Australian dollar enjoyed the rate hike and approached a technical resistance line. A break of this line depends mostly on the upcoming GDP. Update on technicals and fundamentals of this strong currency.[/B]

The Reserve Bank of Australia lifted the interest rate for the fourth time since the outbreak of the financial crisis. Australia’s Cash Rate stands at 4%, the highest in the Western world. If we exclude [B][URL="http://www.forexcrunch.com/fed-mini-hike-which-currencies-take-more-damage/"]Bernanke’s hike of the discount rate[/URL][/B], Australia is the only country to raise the rates. This makes the Aussie a popular carry trade.

This hike came after a break: the RBA raised the rates 3 times in a row ...

From the very first hint at a government stimulus effort in the US, there were plenty voices in the opposition’s camp trying to point out the perversity of pumping money into an economy that was already awash with debt and over-leveraged. Then the argument of letting market forces play out as they may – bankruptcy, layoffs, price declines, whatever -- really took hold when the too-big-to-fail bailouts arose.

The government wanted to promise several hundred billion dollars to companies that made irresponsible decisions, to enable an economy that was drowning in excess.

And now that some semblance of recovery is visible, these same politicians and/or officials are crediting their action for stopping the tide from ...

Attached Thumbnails

 

EUR/USD

The Euro was unable to push above the 1.3650 level against the dollar on Monday and was subjected to sharp selling pressure ahead of the US open with a slide to a low near the 1.3450 level.

There were important developments on the crossesas the dollar gained strongly against Sterling. This demand for the US currency also pushed the dollar sharply higher against the Euro as there were rapid movements.

There was further uncertainty over the situation surrounding Greece with doubts over the potential for support measures for the country while there was unease over the risk of further protests against fiscal measures within Greece which would risk increased tensions with Germany.

...