Archive for July 2nd, 2010

Markets in a Tight Range in Buildup to NFP Number

Friday, July 2nd, 2010 at 6:57 pm  
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G10 Advancers and Decliners vs USD
GBP -0.12
EUR -0.28
CHF -0.29
JPY -0.52
The US Dollar’s performance has been fairly mixed this morning. The USDJPY pared some of its losses experienced during the US trading session and has broken through 88.00 levels, while Asian equity markets have also been largely mixed. There was some minor weakness in Asian equities this morning when Goldman Sachs cut its growth forecast for China in a released note, fanning the whole economic…

EURUSD Defies The Doom Mongers

Friday, July 2nd, 2010 at 6:57 pm  
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The ripping rally higher in EURUSD and a host of other EUR-crosses has had many market participants asking what on earth could have prompted such a reversal – and in the backdrop of yet another slump in global equity indices which has traditionally been the fuel for EUR-weakness. A simple and easy scapegoat would be to point the finger at the often treacherous trend-reversals effected by…