Daily Video Recap: Chinese Data Helps Spur Risk AppetiteFundamental Updates \ \ 5:19 PM EST \ March 10th, 2010 |
Positive data from China and a strong bond sale by Portugal helped increase risk appetite and boost the Euro against its rivals, while a weak manufacturing report hurt the Pound. Higher yielders were up for the day, with the Yen sliding as a result.
The GBP/USD is still in the short-term correction mode. The AUD/USD made an attempt and neared the 0.92 area, and has not shown reversal yet. The USD/CAD is nearing its 1.02 major bottom with some early signs of possible reversal. The EUR/GBP is still in congestion, and…
The USD/JPY is showing continuing bullish attempt towards the declining resistance…So far, bullish attempts have been limited to the short-term context within a long-term decline. In fact, if there is topping action near 91.30, further declin to wards 87.00 is possible. |
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Positive data from China and a strong bond sale by Portugal helped increase risk appetite and boost the Euro against its rivals, while a weak manufacturing report hurt the Pound. Higher yielders were up for the day, with the Yen sliding as a result. |
The dollar was higher against the yen but lower versus the euro on Wednesday. China’s exports soared by the most in three years and concerns over Greece’s deficit eased. The US budget deficit rose to a record $220.9 billion in February and wholesale inventories unexpectedly slid in January for a second month. The S&P 500 rose 5.16 to 1,145.61. |
To start this week we will see how the Dollar is faring following a week in which we ended with some risk appetite that helped the Euro and Pound gain to end last week and has put some of our commodity currencies close to important support and resistance levels. |
FX Strategy Briefing: USD/JPY Gains on BOJ Easing Speculation
Featured \ Hans Nilsson \ 7:03 PM EST \ March 10th, 2010The dollar was higher against the yen but lower versus the euro on Wednesday. China’s exports soared by the most in three years and concerns over Greece’s deficit eased. The US budget deficit rose to a record $220.9 billion in February and wholesale inventories unexpectedly slid in January for a second month. The S&P 500 rose 5.16 to 1,145.61.