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Sales of previously owned homes and construction of new houses probably accelerated in February, highlighting the strength in residential real estate that’s helping propel the U.S. expansion,...
The new trading week brought large gaps on many instruments, including the AUD/USD. Bulls controlled this pair over the entire past week. On Friday, the pair closed at a level around 1.0410. The...
After the weekend break, the EUR/USD pair reached an unexpected 1.2900 at the market opening. This is the lowest level since October 12, 2012. At the point of opening, there was a gap of over 180 pips...
The EUR/USD gapped in its support zone this morning and has bounced back up. The Fibonacci retracement of this gap is very interesting: the price action stopped exactly at 50%. This means that chances...
The main driver of the global capital markets has been the response to the weekend developments in Cyprus. The knee-jerk reaction was to buy dollars and yen and sell most other currencies. Equities...
USD/JPY Open 94.89 High 96.28 Low 94.05 Close 95.25On Friday, the USD/JPY decreased with 120 pips. The currency couple depreciated from 96.28 to 95.06 on Friday, matching the negative money flow...
Market Drivers March 18, 2013Cyprus bank deposit haircut sends markets into tailspin EURUSD gaps down by more than -100 pointsOsborne sticks with UK austerityEurope - 1.66% Nikkei -2.71%Oil...
Despite a big gap down on USD/JPY, the pair remains in bullish mode as decline is actually still in three waves which we think is wave (iv). Notice that wave (iv) is actually testing some interesting...
A sharp and extended decline seen in February, suggests that the pair is trading impulsively lower from above 1.6300 high. However, last week pair has found a bottom at 1.4830, which was expected...
EUR/USDThe euro dropped to its lowest level this year against the dollar after an unprecedented levy on bank deposits in Cyprus threatened to derail the nation’s bailout and spark a new round in...
I spoke on Thursday about how the EU summit represented a ‘tinderbox’ for the Eurozone, given the level of potentially explosive matters that were due to be discussed. We could never have...
The fragile stability in the euro zone was disturbed by the unexpected news from Cyprus: on Friday the EU finance ministers agreed on a tax on Cypriot bank deposits in return for a 10 billion euro...
NZ GDP q/q today will be crucial for the NZD as market is waiting for a catalyst to either push NZD lower or consolidate recent sell offs. With RBNZ concerned over the “unbalanced”...