EUR/USD The Euro hit resistance close to 1.44 against the dollar in European trading on Thursday and then retreated sharply with lows close to 1.4250. There were renewed tensions surrounding Euro-zone peripheral bond markets with Italian and Spanish yields rising sharply during the day. Weak demand pushed Italian yields to an 11-year high which increased [...]

U.S. Dollar Trading (US) was on the front foot as mild risk aversion spread throughout the market and the EUR/USD slumped in a delayed reaction to the Portugal downgrade the night before. June ISM Services dropped to 53.3 vs. 54.6 previously. China also increased Interest rates but stock markets were able to end slightly higher [...]

EURJPY EURJPY closed @ 11640 which was BELOW the open and breached the previous day’s low. The High was PRECISELY at Precise Trader’s Res Zone 1 and the Low was 30 pips from Precise Trader’s Sup Zone 10.   The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to [...]

The Japanese Yen and the resumption of the carry trade It seems that last month’s G7 intervention was the turning point for the Japanese Yen. The Group Of Seven Industrialized nations stepped in the currency markets on March 18th in order to halt the Japanese yen rise. The coordinated intervention occurred after the yen soared [...]

EU Morning Report Japanese Yen plummets due to the return of the carry trade The euro rallied on Friday making a fresh high against the dollar. The single currency continues to be supported by ECB’s decision to raise its lending rate by 25 bps to 1.25% in an effort to fight inflation. Even though Trichet [...]