Thursday, February 10, 2011

Ups & Downs

European markets are going through losses on Thursday, with the financial sector driving losses, after Credit Suisse quarterly earnings missed forecasts. In currency markets Euro and Pound slide on risk aversion.

Eurostoxx 50 Index drops 1.13%, while the German DAX drops 0.6%, and the French CAC Index sheds 0.95%. In the UK, the FTSE Index drops 0.7% two hours after the opening bell.

Shares of Credit Suisse have dropped 2.7% after reporting a 6.1% increase on fourth quarter's net profit, to CHF841 million, below the market consensus of CHF914 million. BBVA has lost 1.2% and Societe Generale dropped 1.1%.

Euro and Pound lower

EUR/USD recovery from 1.3500 low on Monday, extended yesterday to 1.3745 high, and the pair pulled back below 1.3700 in Asia, to accelerate downtrend at European session opening, reaching session lows at 1.3615.

GBP/USD rebound from 1.6030 low yesterday extended to 1.6125, where the pair found resistance and pulled back over the Asian session, to revisit 1.6025/30 support level on early European session.

USD/JPY recovery from 81.10 low on Friday extended yesterday above 83.45 resistance area, and, after a slight pullback to 82.20, the pair rose moderately over the Asian session to reach 82.78 high on early European session.

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9 comments:

  1. Doc_WafflesFebruary 10, 2011 at 3:06 AM

    Hmmm you're my source of news on this matter, thank you.

    ReplyDelete
  2. BlowingInTheWindFebruary 10, 2011 at 3:49 AM

    I repeat what doc says, some good info here

    ReplyDelete
  3. AnonymousFebruary 10, 2011 at 3:56 AM

    Tough times....

    ReplyDelete
  4. Full HD WallpapersFebruary 10, 2011 at 4:13 AM

    EURUSD seems profitable... What do you think?

    ReplyDelete
  5. AquadogFebruary 10, 2011 at 4:21 AM

    I think EURUSD could be profitable if we had mroe information on it.

    ReplyDelete
  6. Josh HeppleFebruary 10, 2011 at 4:23 AM

    Hmm. Intresting to see asia fall behind to Euorpe But we should see how that progresses through the next buisness quater and sector.

    ReplyDelete
  7. LittleGiantBombFebruary 10, 2011 at 4:47 AM

    Those stats give me headaches, maybe I should get into this a little more, thanks for sharing :).

    ReplyDelete
  8. Lendo KharFebruary 10, 2011 at 5:33 AM

    wish us dollars stop getting weaker.

    ReplyDelete
  9. The_illustrative_MindFebruary 10, 2011 at 12:04 PM

    thanks, this was very informative.

    ReplyDelete

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