German IFO remains unexpectedly steady

Tuesday, 24 May 2011 11:52

Anxiously anticipated German IFO Business climate news remained at a steady rate of 114.2, while expectations discussed the possibility of the German IFO to come out at 113.9. Shortly after the positive news release, EUR/USD jumped from 1.4060 to trade at 1.4093; its current point. The European currency struggles to make a recovery after yesterday’s heavy downfall below the line of 1.40. After the currency fell to 1.3969, it attempted a recovery to keep itself off the 1.3950 resistance level.

Euro losing strength

Monday, 23 May 2011 05:05

The Euro stripped down to a new two-month low, below the 1.40 zone, hitting 1.3968 earlier today versus the Dollar. Later on through the day, the Euro was trading steadily against the U.S Dollar along the lines of 1.40-41, currently lining in 1.4000.

Euro is off its 1.4050 low; Greece faces more debt crisis

Friday, 20 May 2011 10:52

The European currency for 17 nations seems to be recovering as it’s keeping well over the 1.4050 (7-week) low. The currency stepped to walk on a high of 1.4336 in yesterday’s session, now resisting at the level of 1.4420. This all, rivaling the U.S Dollar.

EUR/USD is currently trading at 1.4313.

Aussie downgraded by one notch

Wednesday, 18 May 2011 11:55

Moody’s downgrades Australia. Four major banks of Australia were downgraded from Aa1 to Aa2, with the agency also cutting its view on the bank’s subordinated debt to Aa3 from Aa2, as well as the financial strength rating from B to B-. As Moody’s stated the cut downs reflect their view of Australian Banking.

ZEW lower than expectations

Tuesday, 17 May 2011 12:42

German leading indicator for Economic Health was released at lower than expected indicators.