The Swiss Franc went from the safe haven darling to a non-responsive currency. You Can Say That for now, it Seems like whatever creativity the SNB HAD That the BoJ did ’ t Havering is working to stabilizer the Swiss Franc Below ITS record highs Against the USD, EUR, and GBP. In
The S & P 500 failed to keep ITS gains above the 1200 level and Turned downward around noon New York time as U.S. equities reversed Their Earlier gains. We did not Have much Catalysts From The fundamental silk During the New York trading session after the release of the Producer Price Index
The Bank of England Monetary Policy Committee minutes from the ITS 4 August Meeting Report That The Decision to keep the base rate at 0th 5 Percent was unanimous, implying That Messrs. Dale and weal dropped Their previous demands for an Increase in Rates. Once again Posen was the only member voting
We did see higher but it was a Struggle. That Does not really deter me as I still feel we are in a moderately large consolidation. There Fore I still REMAIN bullish for a break above the 0th 9856 high seen Which Should see gains Extend through yesterday’s 0th 9872 High and to around
A lack of positive Merkel-Sarkozy Meeting Development and signs of moderating growth in the EZ-core (Germantown GDP was +0. 1% vs. Arrangement +0. 5% QoQ rise Have put a dent in the recent EUR rally. EUR / USD Upside speed so far Been capped ahead of the psychologically and Technically Significant 1st 4500
No change in EUR / USD ‘s outlook. Break of the first 4537 Resistance is Needed to sign up trend resumption. Other wise, we’ll stay neutral and consolidation from first 4939 Would Extend Furth. On the downside, Below the first Will 4054 bring another case to test the first 3837 Support.
U.S. Dollar Trading (U.S.) Stocks extended gains on Thursday with some Positivity coming back Into most markets. EUR / CHF continue to rally on Short Covering With The SNB now set to meet on Wednesday in what Could be a watershed moment for the safe haven currency. Traders IGNORED some weak manufacturing
The cyclical outlook has changed significantly over the summer and with it Also the central bank outlook. The Fed now predict near-Zero Percent Interest Rates Until at least mid-2013 and we expect it to be right in this prediction. Also, in the eurozone Further Hikes Have Been Cancelled, as
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