At the Close. USD slipping away.
20:23GMT
You know how I hate to keep posting when there’s nothing to say, so just a brief closing commentary to end the day. The USD weakness, or rather, the Europeans resilience is showing some real change of pace, and the EUR close above 1.2350 is a good sign of it. The tides have turned, for how long is yet to be known, I just would appreciate if, technically speaking, there was a better retracement; else, I will just assume that it is the counter-trend aberration that we were waiting for.
Maybe the legs have started to falter…
16:29GMT
Europeans are having it tough to break the day’s highs and EUR/USD is threatening to close below the key line @ 1.2345. I’m still wondering why we had an aberration from 1.4750 and 1.2295 respectively, maybe tomorrow I’ll get an answer to that, after the options&futures contract expiry @ 10:00am GMT (Europe).
More of that they call ‘funnymentalism’ – Sarkozy reiterates to introduce bank levey, transaction tax at G20
15:25GMT
US and Canada are mortally opposed to transaction tax and the bank levy idea is not that warmly regarded outside of Europe, especially as they just want to add the funds to the general fund, not set them aside like insurance…As I posted in the tile, this is rather ‘funny’, and, oh, of course, you will not see today a EUR sell-off after this rubbish is out.
Now this….this is better
14:58GMT
Seeing EUR/USD in the mid 1.23′s and Cable in the 1.4770 region is what I was looking for, techs finally showing some muscle here, but the day ain’t over yet.
JPYs are correcting, when will the majors do that?
14:23GMT
Despite the poor economic data, these days it looks like nothing can keep the Europeans down….at the moment, we’re seeing good retracement (good on a technical side) in the JPY crosses, so I’m just wondering when that’s going to translate into the majors……
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