Monday, March 28, 2011

European market

European markets have opened the week on a moderate upside tone, with the technological sector driving gains, favoured by Goldman Sachs Group's upgrade of Alcatel-Lucent SA and Nokia Oyj ratings. In currency markets, the Dollar is trading firmer across the board.

Eurostoxx 50 Index adds 0.3%, while the German DAX index edges 0.1% up and the French CAC, 0.2% higher. In the UK, the FTSE Index ads 0.2% two hours after the opening bell.

In absence of key macroeconomic date in the Euro Area, the technology sector is leading gains on Monday with Alcatel-Lucent and Nokia surging beyond 2% each after Goldman Sachs Group upgraded their ratings to "buy" from "neutral"

Dollar, steady at higher levels

EUR/USD retreat from 1.4220/40 highs last week extended on early Asian session to fresh 6-day lows at 1.4020, where the pair found support to attempt recovery although, so far, upside moves remain capped below 1.4070/85.

USD/JPY breakout from last week range 80.70/81.30 continued on Monday, with the pair bouncing at 81.30, which acted at support on early Asian session, to reach fresh one-week highs at 81.85.

GBP/USD retreat from multi-month high at 1.6400 extended below 1.6000 psychological level on early European session to hit a fresh 8-week low at 1.5935.

source: fxstreet.com

20 comments:

  1. Might be time to get into the market now! thanks for the tips

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  2. Nice update. I really needed to know what was going on with EU

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  3. doesnt look like any significant change

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  4. I'm really worried how this Lybia thing is going to turn out for Europe. I don;t know if they have an end-game for it yet.

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  5. I think I need to go back to school before I'm comfortable currency trading :/

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  6. Thanks for this post, I keep an eye on the markets and I can get all my data quick and easily from here. I'll check bck for more!

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  7. Hmm, interesting. I trade FOREX so this is quite useful!

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  8. Not too many places you can get good information for free, keep up the good work

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  9. This isn't getting much better. Thanks fo infos

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  10. great to know this resource exists for all of this valuable information.

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  11. great stuff, thanks for the post

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  12. So is this recession starting to ease up? My industry seems to be coming back a bit...

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