May 17, 2012 -- Updated September 19, 2011 03:57 HKT
Forex
Geithner on Greece
US Treasury Secretary supports Greek reform package US Treasury Secretary Timothy Geithner Sunday threw US support behind the latest Greek economic reform package and said the United States would encourage the International Monetary Fund (IMF) to back this agreement. “We welcome the program of economic reforms agreed to by the Prime Minister of Greece and [...]
US Dollar Index erases gains
US Dollar Index erases gains USD/JPY: 77.73.. EUR/USD: 1.3023 Dollar Index erases up gains:The Dollar Index has given up virtually all of its gain and now is just above the flat line at 79.85. The flat trade comes ahead of tomorrow’s FOMC interest rate decision and US Fed Chairman Bernanke’s press conference that may lay [...]
EUR/USD to Rally
Red’s Forex update: EUR-USD pair EUR-USD is rising from pivot to pivot; a break above 1.38 says, 1.3930 next The EUR-USD has been Bullish, taking short pauses at pivots as it rises. The 4-H chart shows the many pivot levels it has passed through on its path to test the 1.3790-1.38 pivot Zone. Note: the RSI reading tagged 70 and [...]
Economic Factors: Gold, Silver and The US Dollar
The September jobs report was released Friday morning. The report was better than expected, with the economy adding 103,000 jobs last month. Economists were only expecting around 60,000 total new nonfarm jobs. Although the economy added 103,000 jobs last month, 45,000 came from returning Verizon strikers, the unemployment rate remains unchanged for the 3rd consecutive [...]
EUR/USD Technicals
EUR-USD has been under pressure during the past several weeks as the debt crisis gets more attention and the ECB seems increasingly dovish. The pair has consolidated higher Friday in what appears to be a Bear flag as seen below on hourly Candlesticks. A break of the Bear flag support followed by a subsequent retest [...]
AUD/USD Great Buying Sub Parity
Reserve Bank of Australia deputy governor Ric Battellino said Australia was now more tied to the fortunes of China than the United States and Europe, and the outlook for the Asian giant remained strong. “China has maintained strong growth in the face of the US recession and the sluggish recovery,” he said. “The latest batch [...]
Carlos Costa on Euro Crisis
Portuguese central bank sets stronger rules in financial market Portuguese Central Bank governor Carlos Costa said Monday that Europe needs a stronger co-ordination of the financial rules to restore confidence in the wake of financial turmoil. During the 21st Portuguese Speaking Countries Central Bank Governors Meeting, Costa said, “there can be no efficient supervision if [...]
USD/JPY Policy Shifts
Japan announces policy package to stem Yen’s rise The Japanese government announced Tuesday a policy package featuring financial assistance to keep businesses domestically to tackle the recent sharp rise of the Yen. The previous measures taken by the Japanese government had failed to ease the strengthening currency in an effective way. Under the new package, [...]
Kweku Adoboli and Delta One
UBS, SCGLY, MS Young rogue UBS trader, Kweku Adoboli, is charged with a huge $2.3-B trading loss at the Swiss bank. Mr. Adoboli, it is alleged, disguised the losing positions against fake counter-trades according to the bank, this is the same strategy used by Jerome Kerviel who caused the huge trading losses at France’s Societe [...]
EUR/USD Technical Update
After dipping to 1.3498 last week, the EUR-USD pair rebounded strongly to as high as 1.3936. Such recovery may well extend but I expect any upside will be limited by 1.3972, Key resistance. A break below 1.3703, the minor support, will turn the bias back to the Southside for retesting 1.3498 first IMO. Such a [...]
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US President Barack Obama’s bank of choice, JP Morgan Chase (NYSE:JPM)
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Sky Power Solutions Corp (OTC:SPOW), INDOCAN RESOURCES INC (PINK:IDCN), JP Morgan Chase (NYSE:JPM)
Sky Power Solutions Corp (OTC:SPOW)
Looks way oversold this morning, there has been what appears to …
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