Shanghai Composite Index jumped almost 3 percent after it briefly went below the 3-year low at 2,000. Speculation that the Chinese government will announce measures to support the markets sparked a rally in the Chinese equities which also pushed the AUD/USD and other markets higher. Hong Kong equity markets gained over 1 percent and the [...]
Euro/USD continues to move lower on concerns revolving the European debt crisis. The currency pair rallied from the low of 1.2050 to the high near 1.3200 in the past months from the belief that solutions were in place to deal with the Eurozone problems. The deadlock from the European political leaders in recent days is [...]
President Obama and Governor Romney each claims they would do better standing up for American workers against unfair trade with China. However, when it comes to outsourcing both have sins to repent. Just about everyone who has had a choice between buying an American-made product or an import-a car, a dress or bottle of wine-must [...]
U.S consumer confidence rose to 70.3 compared to 60.3 from the previous month, far exceeding any forecast. Home prices also increased more than projections. However, the positive data failed to move the markets.
Euro/USD continues to move lower as European politicians remain deadlocked on the Eurozone bailout plan and China’s economic slowdown. The Euro/USD rally from the low of 1.2040 in late July was stalled at 1.3168. At the time of this article, the pair is trading around support at 1.2900. Stronger support levels come in at 1.2790 [...]
Nothing taxes the credibility of politicians like their promises and claims about taxes, and President Obama and Governor Romney top the list for testing the credulity of voters.
Euro/USD is below 1.3000 again as the steroid effects from the all Central Banks’ stimuli are wearing off.
Bank of Japan surprised the markets by expanding its asset-purchase fund by 10 trillion yen last night. As more stimulus is coming into the system, the market’s reaction is becoming less responsive. Equities are holding on to recent gains but oil continues to decline and is down 3 percent at the time of this article.
Euro/USD continues to depreciate since reaching a high of 1.3169 after the Fed’s QE3. The currency pair is testing the 1.3040 support at the time of this article. Stronger support is at 1.3000 followed by 1.2930. Resistance levels are at 1.3080 and 1.3120.
Markets gave back some of the gains from last week’s rally. Most noticeable is the AUD/USD which failed to break the 1.0620 resistance last Friday and it is looking to test the downside support at 1.0430 at the time of this article.