Tue, 07 Aug 2012 00:00:00 +0200
Euro-Zone Concerns Turn EUR Bearish
The euro gave up some of its recent gains against its safe-haven currency rivals yesterday, as doubts regarding the European Central Bank's ability to combat the euro-zone debt crisis resulted in risk aversion in the marketplace. After hitting a one-month high at 1.2442 when markets opened for the week, the EUR/USD turned bearish and eventually dropped as low as 1.2341. The pair was able to make a slight recovery, and spent most of the day trading around the 1.2390 level. Against the JPY, the euro fell more than a 100 pips after markets opened, eventually hitting 96.68 before bouncing back to the 97.00 level. Today, euro traders will want to continue monitoring announcements out of Spain. Analysts are warning that Spanish government is moving closer to requesting a full bailout package to aid its troubled banking sector. Any signs today that the request will soon be made could weigh down on the common currency for the foreseeable future. In addition, if the ECB continues to avoid outlining a clear plan to combat the debt crisis in the region, the euro may extend yesterday's bearish trend.
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading. ForexYard
Actualité du forex
- Forex Trade 22 May, Bank Of England Minutes, Fed's Bernanke Testifies On Economic Outlook
- Forex Trade 21 May, Rba Policy Meeting - May Minutes, Reserve Bank Of New Zealand 2-Year Inflation Expectation
- Forex Trade 20 May, Leading Index, Machine Tool Orders, Chicago Fed Nat Activity Index, Rightmove House Prices
- Forex Trade 15 May, German Gross Domestic Product, Jobless Claims Change, Euro-Zone Gross Domestic Product
- Forex Trade 14 May, German Consumer Price Index, German Zew Survey
- L’or pourrait augmenter alors que la Fed limite les paris en faveur d’une réduction du QE3
- Indices actions : Quelle capacité de progression dans limmédiat ?
- Eur/usd : La Pression Est Haussière, Ben Bernanke Est Attendu Cette A-M
- ARGENT : paroxysme des ventes ?
- Le pétrole brut et l’or chercheront des indications de direction dans les discours de présidents de la Fed