With strong words to support the Euro, Mario Draghi, the European Central Bank President, quelled fears over the future of the Eurozone. However, the bailout negotiations in Cyprus revealed cracks in this ‘floor’ supporting the region and markets. A ‘Banking Union’ has been undermined, imbalances within the region magnified and individual systematic risk returned.
The EUR/GBP continued to struggle at the 0.8750 area once again yesterday, ending the trading session with a doji candle, sending a clear signal of indecision at this level, which has been duly validated in this morning’s early trading session, with the pair retreating lower, and moving back below the 0.8700 region at the time of writing.
Traders start out the week with the U.S. dollar broadly lower against the major currency pairs. The moves comes on the hope the U.S. policymakers can reach a deal before the fiscal cliff deadline which in turn pushed sentiment toward risk appetite assets and away from the safety of the U.S. dollar.
A portion of this post was published also in the public section Traders start out the week with the U.S. dollar broadly lower against the major currency pairs. The moves comes on the hope the U.S. policymakers can reach a deal before the fiscal cliff deadline which in turn pushed sentiment toward risk appetite assets and away from the safety of the U.S. dollar.
The U.S. Dollar is trading higher against the Japanese Yen during the mid-morning U.S. session going into the weekend.
The Euro continues to be under pressure for the 9th straight session. As headlines hit the wires about Greece and Spain market participants look to move away from the risk appetite assets send money flowing out of the Euro and into the U.S. dollar. Playing the move Euro move
The Euro continues to be under pressure for the 8th straight session. As headlines hit the wires about Greece and Spain market participants look to move away from the risk appetite assets send money flowing out of the Euro and into the U.S. dollar. Playing the move Euro move
Welcome to today’s Morning Coffee Break – This morning is the day market participants have been waiting for since Fed Chairman Ben Bernanke’s Jackson Hole speech a couple of weeks ago. U.S. Equity markets are likely to remain in a fairly tight range ahead of the Federal Reserve’s key interest rate decision and policy statement scheduled for today at 12:30 a.m. ET. Followed the all-important FMOC economic forecast which could reveal
The U.S. dollar continues to remain under pressure as the U.S. dollar index trades below the 80 level to 79.68 in anticipation of the Federal Reserve will begin its third round of monetary easing (QE3). Market participants are focusing on tomorrow’s statement from the FMOC scheduled for 12:30 a.m. ET.
As traders get ready to move on the FOMC statement out shortly at 12:30
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