Quote of the day: “Free advice is worth the price.” ~ Robert Half Good morning. Things are getting uglier for the euro on more sovereign default worries. European and IMF experts return to Athens this week for a fiscal audit in order to decide whether Greece can dodge default. German Ifo Business Climate is the main Read More
- Continue reading: Euro Remains Heavy on More Greek Default Fears
Quote of the day:“The difference between the right word and the almost right word is the difference between lightning and a lightning bug.” ~ Mark Twain Good morning. Dollar strengthened across the board as a reaction to Fed being pessimistic about the U.S. economy. The Fed aims to lower long-term lending rates by swapping $400 billion in short-term bonds for long-term Read More
Quote of the day: “If you know how to spend less than you get, you have the philosopher’s stone.” ~ Benjamin Franklin Good morning. Big day ahead for financial markets as all eyes are on Fed chairman Ben Bernanke – everyone wondering whether more quantitative easing will be announced or what rabbit can Bernanke pull out Read More
Quote of the day:“We learn from history that we learn nothing from history” ~ George Bernard Shaw Good morning. Last week’s euro recovery was indeed corrective and the single currency is trading lower across the board, gapping down over 100 points over the weekend. Short-term sentiment is once again bearish and downside pressure is likely to remain Read More
Quote of the day:“Consistency is the last refuge of the unimaginative.” ~ Oscar Wilde Good morning. Euro is now trading above 1.3700 against the greenback, taking a breath after last week’s decline. Last 3 daily candles are suggesting that current recovery is likely to continue as there’s enough room for a correction to the upside Read More
- Continue reading: Euro Recovering Some Ground, Performing Well Against AUD and GBP
Quote of the day:“In a networked world, trust is the most important currency.” ~ Eric Schmidt Good morning. Yesterday’s euro recovery was short-lived as the pair fell back below $1.37 during the Asian session and reached a 10-year low against the Japanese yen. A conference call between Greek Prime Minister George Papandreou, Angela Merkel and Nicolas Sarkozy is one Read More
- Continue reading: Euro Little Changed Since Yesterday, Recovery Modest
Quote of the day: “It is nobler to declare oneself wrong than to insist on being right – especially when one is right.” ~ Friedrich Nietzsche Good morning. The euro found temporary support at $1.35 after last week’s large decline on speculation Greece is nearing default. From a technical perspective, a recovery is likely and the Read More
- Continue reading: Euro Under Pressure on More Greek Default Fears
Quote of the day: “The world is round and the place which may seem like the end may also be only the beginning.” ~ Ivy Baker Priest Good morning. Things are getting uglier for euro as it fell below $1.4, suggesting a test of July’s bottom at 1.3835. Euro’s decline comes as a result of more Read More
Quote of the day: “Never try to tell everything you know. It may take too short a time.” ~ Norman Ford Good morning. EURUSD holds near medium term support layer around 1.400 but so far it fails to provide clues about a potential recovery, therefore looking for new selling opportunities is one thing to consider. Markets are Read More
- Continue reading: Markets Quiet Ahead of ECB, Bernanke and Obama Speech
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