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Forex Market Update | Wed Mar 10 09:02 2010 |
Economic News
Industrial production in both France and Italy grew more than expected in January after declining in the previous month. Full Article
Rating agency Standard & Poor's on Tuesday upgraded its credit rating outlook on the Republic of Romania to stable from negative. Full Article
The Singapore economy is forecast to expand faster than initially estimated this year on strong manufacturing and construction output, a quarterly survey of professional forecasters published on Wednesday by the Monetary Authority of Singapore said. Full Article
Forex Top Story
The U.K. economy may face bumps in the road ahead, but the government will not let the economy fail, Prime Minister Gordon Brown said Wednesday. Full Article
China's exports grew substantially in February, but dropped from the previous month suggesting a persistent weakness in foreign demand. Full Article
German exports dropped sharply in January due to weather effects, ending increases in four consecutive months, data released by the Federal Statistical Office showed Wednesday. Full Article
Industrial production in the U.K. registered an unexpected decline at the start of the year, showing the first monthly fall since August 2009. Full Article
Consumer confidence in Australia rose slightly in March despite the Reserve Bank of Australia's decision to raise the cash rate, according to the latest Westpac - Melbourne Institute consumer sentiment survey. Full Article
Core machinery orders in Japan were down a seasonally adjusted 3.7 percent in January compared to the previous month, the Cabinet Office said on Wednesday. Full Article
Political News
Israel's plan to build 1,600 new houses in East Jerusalem has come under unusually swift and sharp criticism from the international community. Full Article
Iranian President Mahmoud Ahmadinejad Wednesday slammed the U.S. for playing a "double game" in Afghanistan after Washington accused Iran of resorting to the same tactic in the war-ravaged country. Full Article
The United Nations has urged Myanmar's ruling military junta to release all political prisoners, including pro-democracy leader and Nobel Peace laureate Aung San Suu Kyi, ahead of this year's parliamentary elections. Full Article
Analyst Currency Comments
The aussie-kiwi pair came under selling pressure in Asian deals on Wednesday after a report from Australia showed much weaker than expected housing finance data for the month of January, Westpac analysts said. Better-than-expected New Zealand's terms of trade report also supported kiwi. Full Article
DBS Research Group on Wednesday suggested buying Asian currencies when taking risk and selling euro during risk aversion as the Eurozone is clearly lagging in the current recovery. The emerging Asian currencies, excluding the yen, seem to have a clear advantage over their European counterparts. Full Article
Currency Alerts
The pound that strengthened slightly against other major currencies in early European deals on Wednesday pared its gains after the release of the U.K. industrial production report at 4:30 am ET. The pound plummeted to a 9-day low against the euro and the franc and hovering near an 8-day low against the dollar. Full Article
Wednesday in Asia, the New Zealand dollar extended its uptrend against other major currencies on the back of a rise in regional stocks. Full Article
During Asian deals on Wednesday, the Chinese yuan eased from a 2-day high against the US dollar after a report showed that China's trade surplus halved in February. Full Article
In early deals on Wednesday, the euro declined against its US and Japanese counterparts after a report showed that Germany's exports fell for the first time in five months. Full Article
The US dollar staged a strong rally against its major opponents and touched an 8-day high against the pound in late Asian trading on Wednesday. Full Article
General News
Cypriot police arrested three persons Tuesday in connection with the theft of the corpse of the former President Tasos Papadopoulos from a cemetery in the southern outskirts of the capital Nicosia. Full Article
The White House said Tuesday that the Obama Administration had not taken any decision on the new venue for the trial of Khalid Sheikh Mohammed, the alleged mastermind of the September 11, 2001 terror attacks on the U.S. Full Article
President Susilo Bambang Yudhoyono of Indonesia confirmed Wednesday that Dulmatin, the mastermind behind the 2002 Bali bombings that left 202 persons, including 88 Australians, dead, was killed in a shoot-out during Tuesday's raids near Jakarta. Full Article
FORMULAS ON RESISTANCE AND SUPPORT PRICE LEVELS / FORMULAS SOBRE PRECIOS DE
Avg Price/Precio Promedio = (H+L+C)/3
Resistance 2 /
Resistance 1/
Support 1/ Soporte 1 = 2* Avg Price - H;
Support 2/ Soporte 2 = Avg Price + L – H
H= High Price /Precio Máximo
L = Low Price / Precio Mínimo
C = Close Price / Precio de cierrre
Avg = Average Price / Precio Promedio
CONTRATOS FOREX. INFO
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