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In trading on Friday, EUR/USD was up 0.32% at 1.3398, up from a session low of 1.3334 and off from a high of 1.3410. The pair was likely to find support at 1.3298, Thursday’s low, and resistance at 1.3452, Tuesday’s high. The Commerce Department reported earlier that new home sales in the U.S. dropped 13.4% ...
Read More »Australian Dollar Higher After China Growth
Australia’s dollar strengthened after a report showed China’s economy grew 7.5 percent in the second quarter, matching economists’ estimates. The Australian currency dropped last week after Chinese Finance Minister Lou Jiwei said this year’s expected growth rate is 7 percent and China can reach that.
Read More »France lost its top credit rating at Fitch Ratings
France was cut by one step to AA+ from AAA, Fitch said today, joining Moody’s Investors Service and Standard & Poor’s in removing France from the shrinking club of top-rated governments. The outlook is stable. Read more in Forex
Read More »EUR/USD Technical Analysis
Daily targets-signals Short Euro at 1.3089 stop loss at 1.3124 Long euro at 1.3036, stop loss at 1.3002
Read More »USD/JPY
The dollar fell versus the Japanese yen and Asia stocks jumped. The dollar tumbled after the Bank of Japan lifted its assessment of the economy, but cut growth and inflation views. The dollar had already been pushed lower after Federal Reserve Chairman Ben Bernanke said the central bank won’t be ...
Read More »China opens Aussie dollar direct trading
Australian dollar is the third currency to trade directly with the renminbi, the latest step in the internationalisation of China’s currency
Read More »Bank of Japan 2% Inflation Goal Is Unrealistic
Pacific Investment Management Co.’s Bill Gross said the Bank of Japan’s goal to reach a 2 percent inflation target in two years using its record bond-buying program may be “unrealistic.
Read More »Soros Joins Gross in Warning Kuroda Plan Risks Yen Rout
Billionaire investor George Soros and Bill Gross, who runs the world’s biggest bond fund, warned the Bank of Japan (8301)’s plan to end deflation risks creating a rout in the yen.
Read More »FOREX-Yen hits one-month high as factory data dents dollar
The yen shot to a one-month high against the dollar on Tuesday after softer-than-expected U.S. manufacturing data prompted investors to sell the greenback. But further gains for the Japanese currency could be limited as investors wait to see what the Bank of Japan (BOJ) will deliver at its April 3-4 ...
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