All Blog Entries

EUR/USD

The Euro was unable to gain any relief in Asian trading on Monday with stop-loss selling following a break of 1.2330 support pushing the currency to four-year lows near 1.2230. There were persistent fears surrounding the Euro-zone economy and the potential for instability which undermined the currency.

There was a generally downbeat assessment of the situation by ECB President Trichet who stated that the economic situation was the worst faced since at least 1945. In this environment, there were continuing fears over an environment of weak growth and potential long-term break-up of the Euro.

Speculative short Euro positions remained at record levels according to the latest data and this may ...

something I've never seen before intraday...a 6% move on the day! wow!

See the yen pairs go! (visual attached).

Risk aversion day, JPY, CHF, USD and Gold ($1,190) are all prospering big time today.

VIX jumps above 30...highest since Nov. 2009.

Nasdaq down 3.48% today!

Dow down 284 points!

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: USD/CHF up 0.72%, GBP/CHF, AUD/CHF on CHF weakness.

Biggest % losers: EUR/JPY down 0.73%, EUR/USD, EUR/CAD, EUR/GBP, EUR/AUD on EUR weakness.

Oil $85.79
Gold $1,153

ECB's Stark says that they may have entered the next phase of crisis - a sovereign debt crisis and says that the ECB still views record low interest rates as appropriate.

ECB’s Stark Says Inflation Risks Seem ‘Tilted to the Upside’

USD Weekly Unemployment Claims worse at 484k vs. 439k. Reading was 460k last time.

USD TIC Long-Term Purchases better at 47.1B vs. 34.2B expected. Last time was revised down to 15.0B vs. 19.1B formerly.

USD Philly Fed ...

Biggest % gainers: EUR/CAD up 1.23%, EUR/AUD, EUR/JPY on a huge gap upward over the weekend for the euro. Greece got a promise of as much as 45 billion euros ($61 billion) in loans yesterday from the euro-region and International Monetary Fund to help cover its financing needs and avoid a default.

Biggest % losers: AUD/CHF down 1.31%, USD/CHF, GBP/CHF on CHF strength.

Oil $84.51
Gold $1,161

Stocks open up higher...

CAD Housing Starts worse at 197k vs. 201k expected BUT last time was revised higher to 200k vs. 197k formerly.

CAD Bank of Canada Business Outlook Survey comes out at 10:30am EST today.

Talk that Brazil could start to raise interest ...