Good morning friends? yesterday, the dollar fell abruptly on data showing a surprise decline in business activity (philadelphia fed index)? consequently, the euro edged up and tested 1.2640 this morning, in a market mostly guided by technicals, as investors are still awaiting for more clues on the u.s. rate outlook? we think that today?s levels […] (more…)
Good morning friends? the market will focus on germany?s ifo business sentiment this morning & on the fomc meeting tonight for the decision on interest rates (no change is expected) and on the fed?s statement after the meeting.. technically, the euro?s upmove described as corrective was effectively toppish at 1.2640.. the subsequent fall to yesterday?s […] (more…)
Good morning… The USD found some buyers on Friday, putting a small floor under the greenback which may hold until the Fed rate decision. Data this week would normally be interesting, with the US existing home sales and German IFO out on Wednesday, US durables and new home sales out on Thursday and Friday seeing […] (more…)
Good morning friends? the fomc decided to keep rates on hold, as expected; and the comments after the meeting did not reflect any special changes as well. however, the inflationary concerns were seen as easing & the dollar fell.. technically, the euro?s upmove last week was described as corrective & it capped at 1.2640? yesterday?s […] (more…)