News from across the continent
29/11/2012 10:36:12 AM
29/11/2012 05:56:18 AM
28/11/2012 05:17:29 PM
28/11/2012 02:32:17 PM
28/11/2012 06:10:21 AM
27/11/2012 07:22:58 PM
27/11/2012 02:47:45 PM
27/11/2012 10:29:34 AM
Publish Date29/11/2012 10:36:12 AM
Last Update29/11/2012 12:21:37 PM
The U.S. dollar is back under pressure as comments of key Republican official John Boehner lifted hopes of a deal being reached to avert the so-called fiscal cliff. Meanwhile, President Barack Obama said on Wednesday he hoped to reach an agreement with Congress before Christmas, giving markets further relief.
The euro gained against the U.S. dollar and Japanese yen as market put Greece back in the backseat for now, and focus on fiscal cliff talks.
The EURUSD rebounded strongly yesterday after testing the 50-days SMA and 1.2880 key broken resistance which turned into support now, to record an intraday session high today at 1.2989.
Yields on Italy’s bonds dipped in treasury auction Thursday, the country sold 2.98-billion euros of 10-year bonds at 4.45% yield versus 4.92% on October 30, the lowest level in two years, while yields on 5-year notes dropped to 3.23% on 3-billion euros, down from 3.8% in the prior auction.
However, the EURUSD pair is facing key overhead resistance levels, in the form of major long term descending trend line just around 1.3000 level. A sustained break above 1.3000 may extend the bullish wave towards the previously recorded highs last September at 1.3169.
The yen has been under pressure over the past few weeks on speculation of chances of aggressive monetary easing in Japan following a probable change in government next month.
The USDJPY has been in a corrective pullback after recoding multi-month high at 82.82; however price has found support at 81.75 level. In general, the pair is expected to be well bid above 80.60, and could push towards 2012 high at 84.17.
Opinions expressed at ICN.com are those of the individual authors and do not necessarily represent the opinion of ICN.com or its management, shareholders, affiliates and subsidiaries. ICN.com has not verified the accuracy of any claim or statement made by any independent writer and is reserved as their own and ICN.com is not accountable for their input. Any opinions, news, research, analysis, prices or other information contained on this website, by ICN.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. ICN.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The data contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market prices, meaning prices are indicative and not appropriate for trading purposes. ICN.com does not bear any responsibility for any trading losses you might incur as a result of using this data.
©2012 ICN.COM. ALL RIGHTS RESERVED