Action Forex |
- Daily technical outlook
- EU summit brings little progress; Greek PSI deal possible by week’s end
- EURUSD rebounded from 1.3077
- Atypical Weather Trims Consumer Spending and GDP in 2011:Q4
- EU summit brings little progress; Greek PSI deal possible by week’s end
- EURUSD rebounded from 1.3077
- Atypical Weather Trims Consumer Spending and GDP in 2011:Q4
- Daily technical outlook
- EU summit brings little progress; Greek PSI deal possible by week’s end
- EURUSD rebounded from 1.3077
| Posted: 31 Jan 2012 02:52 PM PST The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region's debt crisis and sign off a permanent rescue fund for the eurozone. Here's a couple of charts to start the week with: USD Index Former support around 79.50 is now providing the first resistance level, so it's a good idea to keep an eye |
| EU summit brings little progress; Greek PSI deal possible by week’s end Posted: 31 Jan 2012 02:46 PM PST As the second day of the EU summit is drawing to a close, no breakthrough in the Greek PSI negotiations can be seen. Despite the fact that officially EU leaders focus on the stimulation of growth and employment in the area, the Greek debt swap deal is a crucial issue and a important element of the combat against the debt crisis. Lack of an agreement with private creditors means no further bailout money for Athens |
| Posted: 31 Jan 2012 02:39 PM PST After testing the support of the upward trend line on 4-hour chart, EURUSD rebounded from 1.3077. The bounce would possibly be resumption of uptrend from 1.2624, further rise is expected later today, and next target would be at 1.3300 area. On the other side, a breakdown below 1.3077 will suggest that a cycle top has been formed at 1.3233 on 4-hour chart, then pullback towards 1.2800-1.2900 area could be seen. |
| Atypical Weather Trims Consumer Spending and GDP in 2011:Q4 Posted: 31 Jan 2012 02:15 PM PST Real consumer spending slipped 0.1% in December after postings in October and November. All major components – durable goods (-0.1%), nondurables (-0.1%) and services (-0.1%) – fell in December and trimmed the pace of consumer spending in the fourth quarter. The weakness in consumer outlays on services stands out in the fourth quarter (see Chart 2). Service outlays rose only at an annual rate of 0.2%, while th |
| EU summit brings little progress; Greek PSI deal possible by week’s end Posted: 31 Jan 2012 01:45 PM PST As the second day of the EU summit is drawing to a close, no breakthrough in the Greek PSI negotiations can be seen. Despite the fact that officially EU leaders focus on the stimulation of growth and employment in the area, the Greek debt swap deal is a crucial issue and a important element of the combat against the debt crisis. Lack of an agreement with private creditors means no further bailout money for Athens |
| Posted: 31 Jan 2012 01:39 PM PST After testing the support of the upward trend line on 4-hour chart, EURUSD rebounded from 1.3077. The bounce would possibly be resumption of uptrend from 1.2624, further rise is expected later today, and next target would be at 1.3300 area. On the other side, a breakdown below 1.3077 will suggest that a cycle top has been formed at 1.3233 on 4-hour chart, then pullback towards 1.2800-1.2900 area could be seen. |
| Atypical Weather Trims Consumer Spending and GDP in 2011:Q4 Posted: 31 Jan 2012 01:15 PM PST Real consumer spending slipped 0.1% in December after postings in October and November. All major components – durable goods (-0.1%), nondurables (-0.1%) and services (-0.1%) – fell in December and trimmed the pace of consumer spending in the fourth quarter. The weakness in consumer outlays on services stands out in the fourth quarter (see Chart 2). Service outlays rose only at an annual rate of 0.2%, while th |
| Posted: 31 Jan 2012 12:52 PM PST The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region's debt crisis and sign off a permanent rescue fund for the eurozone. Here's a couple of charts to start the week with: USD Index Former support around 79.50 is now providing the first resistance level, so it's a good idea to keep an eye |
| EU summit brings little progress; Greek PSI deal possible by week’s end Posted: 31 Jan 2012 12:46 PM PST As the second day of the EU summit is drawing to a close, no breakthrough in the Greek PSI negotiations can be seen. Despite the fact that officially EU leaders focus on the stimulation of growth and employment in the area, the Greek debt swap deal is a crucial issue and a important element of the combat against the debt crisis. Lack of an agreement with private creditors means no further bailout money for Athens |
| Posted: 31 Jan 2012 12:39 PM PST After testing the support of the upward trend line on 4-hour chart, EURUSD rebounded from 1.3077. The bounce would possibly be resumption of uptrend from 1.2624, further rise is expected later today, and next target would be at 1.3300 area. On the other side, a breakdown below 1.3077 will suggest that a cycle top has been formed at 1.3233 on 4-hour chart, then pullback towards 1.2800-1.2900 area could be seen. |
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