Luxembourg’s Mersch sees some green shoots, saying confidence in the recovery is stronger than foreseen while economic stimulus packages could be having a bigger impact than expected. EUR/USD is consolidating afternoon losses, down at 1.3940. Stocks remain under pressure, down 1% while oil heards into the close lower on the day after being up sharply early in the day, as high at $72.77. We trade now at $70.45.
Mersch: Data shows economic confidence stronger than forecast
Source: www.forexlive.com
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EUR/JPY technicals
Initial resistance is at 137.30, yesterdays highs with Fibos at 137.44 and 86 above there. Support is at 136.35 and 135.65. Hourly trend is more or less flat which favours range trading though a 5-wave count from the 139.20 spike high is a bearish...
Indonesia cbank end-Oct forex reserves above $64 bln
JAKARTA, Nov 3 (Reuters) - Indonesia's central bank deputy governor Hartadi Sarwono said on Tuesday the country's foreign exchange reserves were estimated at more than $64 billion at the end of October, up from $62.3 billion at the end of September. 'The factors which pushed up forex reserves were...
Japanese Industry Lagging Behind
Source: ForexYard An index which measures the change in industry activity in Japan revealed this morning that the island nation may be experiencing...
Southwest Airlines Traffic Up in February (LUV)
Southwest Airlines (NYSE:LUV) announced that its February that traffic rose 3.9 year-over-year after two straight months of...
Dollar continues to weaken across the board
The Dollar is continuing to weaken across the board as markets dismiss the idea of early US rate hikes and get back to doing what they like best which is sell Dollars. Eur/Usd has moved past offers at 1.4070 with ease and is now closing in on 1.4100. Cable is in the same boat with the move above...