Dukascopy Fundamental Analysis EUR “[Confidence] figures seem to indicate that the euro zone recession is bottoming out” - Peter Vanden Houte, an economist at ING Group in Brussels Euro-area economic confidence improved less than expected in January as the region’s economy is moving toward a recession despite leaders’ efforts to revive growth. USD “Despite the healthy gains in income, U.S. consumers [...]
Dukascopy Morning Forex Overview
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Pimco’s El-Erian: Fed unlikely to raise rates this year
Of course, he’s talking his book, but more than likely he has it right, saying it is unlikely the Fed will hike rates this year. The market got a bit excited earlier this week at the notion that a hike could come before year-end but those hopes have moderated. Further, El-Erian says the...
USD/CHF Daily Forex Technical Outlook
No change in USD/CHF’s outlook. Bullish convergence conditions in 4 hours MACD argues that a short term bottom is formed at 1.0185 but this is not confirmed by a break of 1.0388 resistance yet. Intraday outlook remains neutral for the moment. Break of 1.0388 will indicate that a short term...
Asian forex market wrap
IMF says Euro-zone banks need a recovery plan A very quiet morning has turned into a big down-day for the JPY crosses Initial gains on regional bourses turn into losses Some US Banks allowed to repay TARP China to ease rules on investment overseas by its citizens/corporations Australian job ads...
EURUSD bounced strongly from 1.2874
EURUSD bounced strongly from 1.2874, suggesting that a cycle bottom had been formed on daily chart. Now the pair is facing 1.3497 key resistance,...
Daily Forex Outlook - FED remains Dovish, USD Weak
U.S. Dollar Trading (USD) was on the back foot as stocks rallied around the world and the Federal Reserve left rates at 0.25% and stating that rates would remain low for an extended period of time. ADP October Employment Report was -203k vs. -188k previously. Also released, ISM Services forecast at...