After breaking below the lower border of the price channel on 4-hour chart, USDCHF dropped sharply from 1.0785, suggesting that a cycle top had been...
USDCHF dropped sharply from 1.0785
Source: feedproxy.google.com
- Tags:
- Forex articles
Read more...
National Bank of Ethiopia Cut Reserve Requirement 500bps
The National Bank of Ethiopia cut the minimum deposit reserve ratio by 500 basis points to 10% from 15% previously, the Bank also cut the...
Saab finds a buyer; flows look minimal
Saab, the GM-owned Swedish car-maker, looks like it has finally found a home. A group led by a Swedish car-maker I’ve never heard of Koenigsegg will acquire the brand, according to CNBC. It looks like they will assume gobs of debt, though very little cash will change hands. It is unlikely to...
10-year note auction so-so
At a price, you can sell anything. The US Treasury had to pay 3.99% to sell $19 mln of 10-year notes. So far the dollar is holding up, perhaps supported by the higher yields. EUR/USD has fallen in to the 1.3960s after the auction. Update: Stocks have headed lower on the higher yield backdrop,...
China still a net importer of steel in May
China remains a net importer of steel in May, importing 53.46 million tonnes of iron ore, slightly down from April’s record 57 mio tonnes. This markes the 3rd month in a row that imports have exceeded outflows for China, a country that has been a net steel exporter since...
West Lb denies was in danger
West LB, the German bank, denies it nearly went bust over the weekend (of course). Reuters reported earlier today that the Bank received an additional EUR 4 bln in guarantees from the state and other owners. Whether or not a failure was imminent, it is a reminder that European banks have done less...