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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
what target would u suggest for euro ?
lets face it double dip recession is well and alive and thriving
stop is 1.2650 above 1.2650 u can buy till 1,32
we sold euro at 1.4541 at 16 december 2009
happy trading bro!
last unemployment rate from France (May) is awful especially for people over 50, the pension age going to 62 from 60 will make it worst it 's a very bad news and the proof that 2,5 growth forecast a big lie from our politicians.May shouldn't be worst than April as it is the beginning of the summer season in Hospitality and we are still the first touristic destination in the world but the rate went up again this month.
ZH's take on it:
http://www.zerohedge.com/article/ecb-intervention-spotted-eurusd-breaks-escape-velocity
PBOC advisor Li Daokui: Yuan likely to rise about 3% vs dlr by end-2010 if euro steadies
Greek 5-year cds hits record high of 958 bps vs 934 bps in New York Wednesday. Risk of Greek sovereign default within 5 years at 56.5% says CMA datavision
Europe: Adrift amid the rift. FT examines the relationship between Berlin and Paris
Merkel rejects Obamas call to spend. Warns Europes crisis is far from over - WSJ interview
ECBs Trichet: Idea that austerity measures could trigger stagnation is incorrect
French May consumer spending +0.7% m/m vs median forecast of +0.4%
Euro zone industrial orders +0.9% m/m, +22.1% vs median forecasts +1.6%, +21.5% respectively
European stocks started out firmer before experiencing a marked reversal of fortunes. Risk aversion to the fore with yen, swissy, dollar beneficiaries.
EUR/USD started around 1.2330 and quickly came under pressure, BIS noted seller around the highs. Stops through 1.2290 were eventually tripped and we got down to session low 1.2263. Sources noted BIS back in market, this time buying around 1.2270 and weve edged a little higher, presently at 1.2285.
Cable marginally easier on day, down at 1.4965 from early 1.4985. The pairing has run into good interest to sell above the psychological 1.5000 line, topping out at 1.5010. Talk of sell orders gathered up at 1.5020/30 with stops just above there.
EUR/GBP lower on the day. Barrier option interest at .8200 was taken out and a session low .8185 posted before mild recovery, presently at .8205. Recent budget and split rate decision at last MPC meet continue to underpin sterling.
USD/JPY down at 89.45 from early 89.85, the yen benefitting from the Feds dovish monetary stance and heightened risk aversion.
EUR/CHF lower again, down at 1.3565 from early 1.3615 with SNB staying at home once again.