Wednesday, March 16, 2011

European market

The moderate risk appetite seen at opening times has faltered through the session and European equity markets have turned to negative territory. In currency markets Dollar and Yen are bouncing higher against Euro and Pound.

Eurostoxx 50 Index is trading 0.85% lower while the German DAX Index dips 0.25% and the French CAC 1.0% down. In the UK, the FTSE Index trades 0.75% down.

The Yen has ticked higher as risk aversion increased, and USD/JPY pushed to day lows right above 80.60 support area, which , so far, remains firm. EUR/JPY EUR/JPY has pulled back from 113.30 on early European session, to day lows at 112.40, while GBP/JPY rejection from 130.50 extended to day lows at 112.50.

EUR/USD has been rejected again at 1.4000 area, retested at European session opening, and the pair dipped to session lows at 1.3925.

GBP/USD recovery from 1.5975 low yesterday has been capped at 1.6135 and the Pound lost the 1.6100 level, dipping to 1.6055, yet above day low 1.6050

source: fxstreet.com

22 comments:

  1. ecomony is expected to recive a lot of damage in the upcoming months

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  2. eek!! has it bottomed out?

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  3. It's always interesting to see what you have to say...it's kind of crazy how much the devastation in Japan is effecting the world market now.

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  4. feel like the usd is going to continue to climb up

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  5. Our eyes should be on asian markets, I believe that for the next 3 or 4 months the world will at them to make choices, speacially when it comes to insurance companies.

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  6. The markets are all over the place. I'm really not sure if I should buy now... I wonder how low they will go

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  7. i think a bit more then 4 months but yes asian markets will be the head to follow..

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  8. The fact that the JPY is still holding it's own is a miracle isn't it?

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  9. Asian currency will be making some drastic changes i can imagine

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  10. Euro goes lower=more export = more jobs for europe right?

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  11. I would certainly like to see the dollar do better, but the Asian markets are going to be turning around here fairly quickly.

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