Archive for July 9th, 2010

EURUSD Remains Elevated On Asian Equity Gains and Trichet’s Upbeat Tone

Friday, July 9th, 2010 at 1:56 pm  
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G10 Advancers and Decliners vs USD
EUR 0.36
GBP 0.33
CHF 0.05
JPY -0.12
Overnight, currency markets have traded sideways for the most part as the Asian session lacked any economic releases to drive price action and equity markets managed to post decent gains to round off the week. The Nikkei closed up 0.52%, the Hang Seng climbed an even more impressive 1.45%, and at the time of writing, the Shanghai Composite was up around 2.50%.

Much of the improvement in…

EURUSD Gains on Benign US Currency Report

Friday, July 9th, 2010 at 1:56 pm  
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A noticeable void of fresh news has created a lacklustre trading environment which continues to promote USD selling. Asian equity markets were higher across the board with Shanghai leading the charge up 2.31%. In addition, yields firmed and commodities rallied as investors concerns over a double dip or potentially a meltdown subsided. However, currently risk appetite seems shaky…