All of the majors are at their NY closing levels from Friday. The market will try to digest the volatile moves from Friday night before settling on its next move. I expect Asia to trade most of the majors in 100 pip ranges. It’s a relatively quiet day on the economic data front.
Majors steady in early interbank trade
Source: www.forexlive.com
Read more...
US Q1 Bankruptcies up 10% Q/Q
A few minor economic reports have come out over the session. Firstly US Q1 bankruptcy filings rose to their highest level since 2005, up 10% from Q4 2008. The Philadelphia Fed survey of economists said that the US economy should return to growth in H2 2009, but they also expected the unemployment...
EUR/USD dips to 1.3960 support as longs continue exodus
EUR/US has fallen back to the 1.3960 area as longs continue to head for the sidelines in frustration. Animal spirits were whipped up over the last 24 hours only to come unglued in US morning trade. Small central bank buying has been seen on this latest dip with the more active trading CBs playing...
Price action taking its toll
Lots of grumbling out there from both the professional and individual trader community today as prices rally and reverse and then slide and reverse. After lots of to and fro but not much new from a fundamental perspective to cling to. The main headlines today (Russia and Brazil cozying up to the...
Tote Hose
A great German expression which literally means “dead trousers”. When applied to the FX market, tote hose means that absolutely nothing is going on. Who says that you don’t learn anything in the FX market. By the way, Die Toten Hosen is a German punk band from my old arbeitsplatz...
WORLD FOREX: Euro Falls On Report Of German Credit Woes
By Takashi Mochizuki Of DOW JONES NEWSWIRES TOKYO (Dow Jones)--A reported worsening in credit conditions for large German companies weighed on the euro ... See all stories on this...