Monthly Archives: February 2010
Forex News
The US dollar took a wrong turn against most major and emerging market currencies today. The Euro has broken through and rallied in short-term trading. There is some speculation that the EU will intercede for Greece and provide aid, but it seems very premature and would undermine the austerity plan in place for Greece and would not allow them to implement it. This would surely cause a ripple for Spain, which is unwelcomed.
Forex News
Feb 8
Posted by John Taxiarchos
Worries coming from the rest of the world that the US is being too onerous on its banks, which is somewhat affecting the currency markets. G7 did not come out with a concrete plan, but did say they will make sure that Greece will respond and begin to tackle its fiscal deficit.
EURUSD is going to trade higher today and would be a good buy. EURJPY is a good buy as well. USDCHF is in overbought territory and should be sold at this level.
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Tags: currency trading, economy, financial news, foreign exchange, forex commentary, investing, world markets