Euro news

Speaking with the Financial Times on Thursday, European Central Bank's Ewald Nowotny says that it makes sense that the ECB would not cut too much too soon. At its governing council meeting in November, the ECB surprised some by only cutting its main refinancing rate by 50 basis points to 3.25%. With the Bank of England having just minutes before cut its Bank Rate by an unexpected 150 basis points,…

European Central Bank Executive Board member Lorenzo Bini Smaghi added to the speculation that the ECB would cut rates further at its Governing Council meeting in December by saying that more cuts were possible, according to Portuguese newspaper Público on Thursday. However, Bini Smaghi also says that the central bank must avoid having rates too low for too long and reiterated that the central ban…

European Central Bank member Ewald Nowotny says falling inflationary pressures "obviously give room for further measures" from the central bank, according to the Financial Times on Thursday, echoing similar statements from a number of ECB members recently. Nowotny also says that Germany should consider a more aggressive program to stimulate its economy and bring it out of recession, adding that th…

(CEP News) Frankfurt - With oil prices continuing to fall back from their record highs reached earlier this year, a majority of economists expect German producer price growth to slowed further in October. Ahead of the Federal Statistical Office (Destatis)'s data release on Thursday, the median consensus is calling for producer price inflation to slow to 7.2% year-over-year, down from September's 8…

Eur/usd - 1.2491...ECB board member Smaghi was quoted in a newspaper interview as saying that it is possible for eurozone rates to fall further n that the central bank does not anticipate a deflationary process will occur. Bids fm various accounts (incl. Asian CBs n European corporations) are noted ...

Yesterday Euro/Dollar made a slight adjustment upwards. The currency pair reached a peak at 1.2807 but closed lower at 1.2488. Our model remains mixed for now, with descending signals in the longer term while the European currency remains below 1.2880. Only consistent movement above 1.2752 might break the bearish scenario. Immediate support is seen at 1.2470. Break down of this level can give us f…

The poor data for the US housing sector push the dollar to levels above 1.28 but fast recovery during the US session. The traders predict poor data for the Euro Zone. The Fed will probably cut the interest rates to 0.5% based on the latest inflation report.

The Reserve Bank of Australia spent a record-breaking 3.15 billion to intervene in the forex market and support the value of its currency. Japanese exports...

Current Yesterday USD 0.43750 0.40000 GBP 3.00000 3.00000 EUR 2.93375 2.97625 JPY 0.53250 0.52750 CHF 0.98333 0.99167 AUD 5.62500 5.75000 CAD 2.55833 2.56667 NZD 6.70000 6.78750

1,2506. EUR USD broke 1,2590 support. EUR USD is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a b...

There is a slight uncertainty over whether we'll remains above 118.30 or see losses extend deeper to around 116.13 or possibly 115.22...

118,92. EUR JPY broke 121,10 support. EUR JPY is in an downtrend directed by 4H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) ...

0,8346. EUR GBP is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. Oscillators are neutral. The price should find a support above 0,8300 (46 pips). We won't take a position. The risk/reward ratio is too high to take a position.. Resistance...

1,5143. EUR CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position. Resistances1,5205 - 1,5305Supports1,5130 - 1,5100

1,5687. EUR CAD is in an uptrend supported by 1H exponential moving averages. EUR CAD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a support a...

1,9687. EUR AUD broke 1,9650 resistance. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,9460 (227 pips). The uptrend should continue to gather momentum. We won't ...

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In the afternoon the U.S. equity markets took a turn for the worse and plunged sharply lower. This break triggered a flight to quality rally to the treasuries. Global traders pitched the higher risk Euro currency for the safety and liquidity of the Dollar.

The US dollar initially weakened versus the euro upon the release of US inflation figures, only to rebound in the afternoon as dim prospects for an auto...

(CEP News) - On Thursday, markets will receive German producer prices data, along with Italian industrial orders and UK retail sales.

The greenback fell versus the Japanese yen on Wednesday on renewed risk aversion due to growing worries about the ailing U.S. auto industry and deflation fears on the back of a record slide in U.S. consumer prices. The U.S. consumer price index fell by 1.0% in October (the largest decrease on record...

Thu, 20th of November, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD attempted to push higher yesterday. After made a breakout to the upside from triangle formation, topped at 1.2813, the pair whipsawed to the downside and break the triangle to the downside. This fact should support the current bearish scenario continuation. The bias is on the [...]

- British Pound Spikes Amidst Wild Volatility, Falls Back as BOE Minutes Signal Further Rate Cuts - Japanese Yen Jumps While US Stocks Close at Lowest...

The major currencies whipsawed in the Tuesday session, with the greenback recovering from earlier losses in New York trading. The dollar tumbled to lows against the euro and sterling at 1.2813 and 1.5248, respectively, before recovering by the afternoon session. US economic reports released earlie...

The Euro foundsome support below the 1.26 level against the dollar and pushed to highs of1.27 as Wall Street secured opening gains. The Euro and US stocks were bothunable to sustain opening gains and it weakened back to the 1.26 region.US producer pricesfell by a sharp 2.8% in October as energy pric...

(CEP News) Frankfurt - With oil prices continuing to fall back from their record highs reached earlier this year, a majority of economists expect German producer price growth to slowed further in October. Ahead of the Federal Statistical Office (Destatis)'s data release on Thursday, the median consensus is calling for producer price inflation to slow to 7.2% year-over-year, down from September's 8…

The US Dollar/Japanese Yen pair remains in much the same situation as the Euro/US Dollar, as the USD/JPY remains within a progressively tightening wedge...

The Euro remains in a tight wedge formation against the US Dollar, with Rangebound price action likely to culminate in breakouts through short-term currency...

EurUsd Market dropped as low as 1.2330 on October 28th and sharply rebounded to 1.3298 high Thursday last week. This shows actual trading range 1.2330 – 1.3298 drawing a triangle consolidation pattern. On the downside, renewed weakness will open the way down to trendline support 1.2208. Next long-term support holds 1.1640 November 2005 low.

The Dollar was stronger on Tuesday as investors continue to seek for safety. But a late rally on Wall Street limited dollar gains against Euro and Sterling and boosted it against the Yen on hopes that financial market turmoil may be starting to ease.

The Euro remains in a tight wedge formation against the US Dollar, with Rangebound price action likely to culminate in breakouts through short-term currency...

1,2708. EUR USD broke 1,2700 resistance. The volatility is low. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,2570 / 1,2800 range. We won't take a position. Resistances1,2745 - 1,2800Supports1,2660 - 1,2570

122,09. EUR JPY is in a range between 120,70 and 123,80. EUR JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands...

Current Yesterday USD 0.43750 0.40000 GBP 3.00000 3.00000 EUR 2.93375 2.97625 JPY 0.53250 0.52750 CHF 0.98333 0.99167 AUD 5.62500 5.75000 CAD 2.55833 2.56667 NZD 6.70000 6.78750 3-month...

0,8396. EUR GBP is in a range between 0,8360 and 0,8480. EUR GBP moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a positio...

(CEP News) Frankfurt - European Central Bank Governing Council member Michael Bonello said that although Europe is entering into a recession, it is likely to be less severe than that of the U.S.

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1,9507. EUR AUD is in a range between 1,9160 and 1,9670. EUR AUD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position. Resistances1,9630 - 1,9...

(CEP News) Frankfurt - Euro zone construction output fell by a revised 1.3% between August and September after rising 0.4% in the previous month, Eurostat said in a press released issued on Wednesday.

(CEP News) Frankfurt - European Central Bank Governing Council member Miguel Ángel Fernández Ordóñez is expecting an "enormous" drop in the inflation rate for Spain and the euro zone and that the current crisis has "substantially eased" price tensions.

(CEP News) Frankfurt - The Organization for Economic Co-operation and Development has cut its growth forecasts for Spain while predicting that the fiscal deficit will breach the 3% ceiling by 2010.

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Construction outputs in the Euro-Zone plunged 1.3% in September, and may fall further over the coming months as the economy slips into a recession. A breakdown...

Bank of Spain's Miguel Ángel Fernández Ordóñez says that Spanish banks are proving to be more robust than banks elsewhere. Ordóñez is currently speaking before the Spanish Senate Committee in Madrid.

Speaking before the Spanish Senate Committee in Madrid on Wednesday, Bank of Spain's Miguel Ángel Fernández Ordóñez says that he sees downside growth risks for Spain and that the country will come in short of the government's 2009 growth forecasts. The Spanish central banker also expects further declines in the economy, along with intensifying residential investment correction. Ordóñez also predic…

In an interview with Sky News published on Wednesday, European Central Bank President Jean-Claude Trichet says Britain can join euro zone anytime. "It is an issue for the British people, but Britain would be welcome at any time."

Speaking to the Spanish Senate Committee in Madrid, European Central Bank member and Spanish central bank head Miguel Ángel Fernández Ordóñez said that a "drastic" fall in Spanish housing demand is being seen and that job losses due to the slump would hamper the economy. Ordonez also says that rising unemployment would add to Spain's slowing consumption levels. Conversely, Spanish exports will add…

Speaking before the Spanish Senate Committee in Madrid, European Central Bank member Miguel Ángel Fernández Ordóñez says that the current crisis has "substantially eased" price tensions, adding that the outlook for Spanish inflation has "improved significantly". In Spain, the inflation rate has been steadly retreating from its record high of 5.3% in July and currently stands at 3.6%, as of Novembe…

Despite yesterday's retreat from 1.2701 to 1.2566, lack of follow through selling and subsequent rebound suggest further choppy trading would be seen and gain towards 1.2701 cannot be ruled out, however, as broad outlook remains consolidative, res at 1.2742 should limit upside and yield another fall...

(CEP News) Frankfurt - Spanish GDP was confirmed to have contracted 0.2% in the third quarter of 2008, in line with preliminary estimates, following Q2's 0.1% rise, the National Statistics Institute (INE) said on Wednesday.

(CEP News) Frankfurt - The ongoing financial crisis is the worst seen since the end of the Second World War, European Central Bank President Jean-Claude Trichet said.

Speaking to Sky News on Wednesday, European Central Bank President Jean-Claude Trichet calls the ongoing financial crisis the worst since World War 2, with the financial "heart" of industrialized countries in a very "turbulent and difficult episode." "It is the first time that the heart of the finance of the industrialized countries is at stake," Trichet says.

Eur/usd - 1.2625...Trading flows have been relatively light in Asia with no major data out of the eurozone (focus will be on U.K. MPC vote outcome, U.S. CPI data n FOMC meeting minutes). A mixture of bids n stops is seen in the region of 1.2580-1.2600 with buying interest found at 1.2550 while offer...

by Johan Kriek (jkriek@fxinstructor.com) Key Notes: - BoE: 9-0 vote for 150bps cut, signals more to come Key Events still to come: - US Housing figures - US CPI - FOMC meeting minutes Probability Studies: The EUR is still situated in a no trade zone as price cannot violate the bearish current trend at 1.2660 to the upside to signal a confirmed continuation [...]

Yesterday Euro/Dollar made a slight adjustment upwards. The currency pair reached a peak at 1.2690 but closed lower at 1.2617. Our model remains mixed for now, with descending signals in the longer term while the European currency remains below 1.2880. Only consistent movement above 1.2752 might break the bearish scenario. Immediate support is seen at 1.2690. Break down of this level can give us f…

EUR/CHF is our Trend for Today

ECB president Trichet said financial crisis is worst since WW II. Trichet told Sky News Television that "it is the first time that the heart of the finance...

1,5250. EUR CHF is in an uptrend supported by 1H exponential moving averages. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR CHF. The...

1,5633. EUR CAD is in an uptrend supported by 1H exponential moving averages. EUR CAD is in a consolidation after the last bullish movement. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressur...

Australia faces the risk of recession at the beginning of next year as the Westpac leading index plunged to the lowest in 23 years. The Euro and British...