Forex Market Updates & Commentary
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- EURUSD off lows but approaches intraday resistance area
- GBPJPY tests 38.2% retracement. Moves above 100 hour MA today.
- SNB declines to comment on meeting and announcement on repegging
- BOE Weale says there is appreciable risk of another recession
- Unrealistic to expect EFSF to leverage up to 1 trillion.
- Chatter in the market that the SNB is looking to raise EURCHF peg to 1.2500 at Dec meeting
- EU Officials: Considering dropping private sector involvement in a new EU treaty revision
- EURUSD makes new lows
- Bank of America says that the breakup of the Euro is possible.
- ECB’ Vicso says macro measures alone are not enough to turn the Italian economy around, must make structural reforms.
- Italian retail sales (Sep) -0.4% vs. -0.2% expected (0.0% prior).
- USD index rises to 79.39, highest level in 7 weeks.
- The German federal gov’t and the country’s 16 states have agreed to balance their budget by 2014.
- Chinese gov’t researcher sees 2012 GDP growth at about 8.5%, and CPI to rise 4.5%.
- Spanish producer prices (Oct) 0.0% vs 0.2% expected.
