EUR/USD The Euro hit resistance close to 1.3450 against the dollar on Tuesday and retreated to the 1.3360 area, but there was solid buying support on dips and it strengthened to a fresh 5-week high above 1.3480 in Asia on Wednesday. The German economic data remained impressive with the ZEW business confidence index rising further [...]

EUR/USD The Euro remained generally fragile in early Europe on Tuesday and weakened to test support below 1.2550 against the dollar. The currency was undermined on structural grounds as ratings agency Moody’s cut Portugal’s credit rating by two notches to A1 from Aa2 which encouraged a renewed widening of European bond spreads. The latest German [...]

Greek T-Bill issue spurs risk appetite across the board! Risk appetite took center stage yesterday following a well received T-Bill auction in Greece as well as a series of impressive earnings results from giants such as Alcoa Inc and Intel beating analysts’ estimates. Stock markets rallied above 1.5% in the US, risk currencies such as [...]

CURRENCY TRADING SUMMARY – 14th July (00:30 GMT) Written by Anthony Darvall U.S. Dollar Trading (USD) positive sentiment and continuation of gains in the US session saw risk currencies and the Euro trade at fresh month highs. May’s Trade balance was weak at -42bn vs. -39bn forecast but this was overlooked as company earnings from [...]

EUR/USD The Euro edged weaker in early Europe on Monday on some media reports that Germany was preparing a strategy for allowing orderly Euro-zone member defaults. Technical considerations were also still important with the Euro vulnerable to selling pressure after the failure to break above longer-term resistance levels late last week. Euro-zone structural doubts remained [...]