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Euro Open: All Eyes On the Bank of England
Economic data surprised the markets overnight as both Japan and Australia issued higher-than-expected readings for inflation and employment, respectively....
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Canadian and New Zealand Dollars Skyrocket, Aussie Held Back by Employment Numbers
The biggest story in the currency market today is undoubtedly the Canadian dollar which skyrocketed against all of the majors.
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Japanese Yen Crosses Hit by 230 Point Plunge in the Dow
Japanese Yen crosses came under severe selling pressure on the heels of a major reversal in the Dow.
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Watch for Surprises from the Bank of England
The Bank of England is widely expected to leave interest rates unchanged tomorrow at 5 percent but currency traders should be prepared for any surprises.
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Euro: Shrugs Off Weak Data
Despite weaker economic data and moderate comments from ECB President Trichet, the Euro strengthened against the US dollar.
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What is Slapping the US Dollar?
- Watch for Surprises from the Bank of England - Euro: Shrugs Off Weak Data
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Forex in 60 Seconds - Euro, British Pound, US Dollar All Face Event Risk From Central Bank Decision, Comments
See the article...
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British Pound Crosses Setting Up for Big Bull Moves
See the article...
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New Zealand Dollar Technical Outlook
Recent commentary has mentioned that "an A-B-C correction may be complete at .7662 but our preferred count is for a rally to end closer to the 50% of .7921-.7445...
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Australian Dollar Technical Outlook
The AUDUSD drop from .9668 appears complete as a second wave correction.
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Canadian Dollar Technical Outlook
Bottom line is that we remain bullish as long as price is above 1.0047.
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Swiss Franc Technical Outlook
The USDCHF is probably on its way to a new low.
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British Pound Technical Outlook
A C wave (of either a triangle or flat) is underway.
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Yen Technical Outlook
There are 3 waves up from 95.72 so a top may be in place at 108.57.
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Euro Technical Outlook
We wrote last week that "the preferred count treats the advance from 1.5283 as a series of 1st and 2nd waves (1 and 2 of V).
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