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Showing posts from November, 2009

Economical News- 27th Nov 2009

USD The U.S. Dollar rebounded versus most major rivals except the Japanese Yen Thursday, benefiting from safe-haven flows amid fears of a potential sovereign debt default by Dubai. Dubai's shock move on Wednesday to restructure its biggest corporate debtor, Dubai World, and delay repayment on some of the company's $59 billion in liabilities, dented risk appetite across asset markets on Thursday, to the U.S Dollar's benefit. Against the Japanese Yen the greenback headed for its worst month since December before a report next week that economists say will show U.S. business activity has declined, supporting the case for the Federal Reserve to keep borrowing costs near zero. The U.S. currency traded at $1.4945 per EUR from $1.5019 yesterday. However the Dollar edged up from its lows against the Yen in early trading Friday as renewed risk aversion prompted investors to shed riskier assets, giving pause to broad Dollar selling. Market players also refrained from re-testing
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Dubai Debt Concerns

Dubai Debt Concerns Fears of a potential default in Dubai sent shock waves through financial markets Thursday, weighing on European and Asian equities and pulling the U.S. Dollar off of recent lows as investors sought out safe havens. Analysts said Dubai's woes were a blow to sentiment, serving as a reminder that potential trouble spots remain in the world economy. kishore
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todays technical analysis

EUR/USD The EUR/USD went increasingly bearish yesterday, and currently stands at the 1.4920 level. The daily chart's Slow Stochastic supports this currency cross to fall further today. However, the 4-hour chart's Stochastic Slow signals that a bullish reversal will take place today. Entering the pair when the signs are clearer seems to be the wise choice today. GBP/USD There is a fresh bullish cross forming on the 4-hour chart's Slow Stochastic indicating a bullish correction might take place in the near future. The upward direction on the hourly chart's Momentum Oscillator also supports this notion. Going long with tight stops might be the right strategy today. USD/JPY The cross has been dropping significantly for the past week now, as it now stands at the 86.10 level. The RSI of the daily chart is already in the oversold territory, indicating that an upward correction is imminent. This view is also supported by the RSI of the 4-hour chart. Going long with tigh
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