Forex Crunch EUR/USD Dec. 7 – Struggling to Rise as Big Solutions Awaited

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• EUR/USD Dec. 7 – Struggling to Rise as Big Solutions Awaited
• Greek Bank Run Intensifies – Exacerbates Greece’s Misery
• Markets find hope in adversity
• ECB Dollar Auction Shows Desperate State of European Banks
• More Strength For Australian dollar As Risk Trades higher
• British Manufacturing Production Dives by 0.7%, GBP/USD Down
• AUD/USD: Trading the Australian Employment Change
• Forex Daily Outlook November 7 2011
• Canadian Rate Unchanged – USD/CAD Ticks Down on Positive Economic Assessment

EUR/USD Dec. 7 – Struggling to Rise as Big Solutions Awaited Posted: 07 Dec 2011 04:16 AM PST Euro dollar is ticking up, but with great hesitation, as creative solutions are awaited from Europe towards the European summit. The leaders seem determined to work out a solution, but yet again, details are missing. Will the ECB use its firepower? Italian and Spanish yields continue falling, and this helps the euro as well. Here's a quick update on technicals, fundamentals and what's going on in the markets. Read the rest of the article EUR/USD Dec. 7 – Struggling to Rise as Big Solutions Awaited

Greek Bank Run Intensifies – Exacerbates Greece’s Misery Posted: 07 Dec 2011 04:15 AM PST Greek citizens continue withdrawing money out of the domestic banks. This process has intensified recently as the situation continues deteriorating. The rise in unemployment, now getting close to 20%, forcing many Greeks to use their savings for day to day life. Also the harsher austerity measures make income smaller and costs more expensive. But it’s also the international atmosphere. Read the rest of the article Greek Bank Run Intensifies – Exacerbates Greece’s Misery

Markets find hope in adversity Posted: 07 Dec 2011 03:13 AM PST So far it's been a fairly strong week for markets, with the considerable expectation weighing heavy ahead of Friday's EU summit.  Stocks are pushing levels last seen early November, whilst emerging and high-beta currencies (principally the Aussie) have pushed ahead against the dollar by an average of 1%.  The single currency is also performing relatively well.  Part of this is down to the significant volume of short positions in the market, making it painful for investors to continue to be bearish into the end of the week. However, scratching beneath the surface of Monday's Merkel/Sarkozy get-together is not that positive in terms of faith that the leaders are pushing ahead along the correct path. Read the rest of the article Markets find hope in adversity

ECB Dollar Auction Shows Desperate State of European Banks Posted: 07 Dec 2011 02:10 AM PST The timing of the coordinated action by 6 central banks to ease cut the rate for dollar swaps was no coincidence: the amount of US dollars that the ECB supplied to European banks jumped and reached $1.6 billion in 7 day operations, and more than $50 billion in 84 day operations, to which 34 banks tapped in. This shows how more European banks were starved for dollars, and how serious the situation has become. Read the rest of the article ECB Dollar Auction Shows Desperate State of European Banks

More Strength For Australian dollar As Risk Trades higher Posted: 07 Dec 2011 01:55 AM PST Stocks trade higher, and the S&P Futures at new highs around 1267 on optimism that European leaders will approve aggressive plans by the end of the week to rescue the region from a debt crisis. Meanwhile majors found some support against the US dollar, but moves were really poor with some low volume and momentum. We however expect further dollar weakness, especially as recovery shown on dollar index appears corrective from Nov 30, labelled as wave X, but still not sure if finished already. Read the rest of the article More Strength For Australian dollar As Risk Trades higher

British Manufacturing Production Dives by 0.7%, GBP/USD Down Posted: 07 Dec 2011 01:31 AM PST British Manufacturing production fell by 0.7%. Early expectations stood on a small drop of only 0.1%. The wider figure of industrial production also fell by 0.7%, more than 0.3% that was expected. Pound/dollar is ticking down after the publication, getting closer to 1.5633. GBP/USD floated around the 1.5633 line prior to the release, climbing up from lows seen yesterday. Support is found 1.5550. Serious resistance is at 1.5780. Read the rest of the article British Manufacturing Production Dives by 0.7%, GBP/USD Down

AUD/USD: Trading the Australian Employment Change Posted: 06 Dec 2011 03:30 PM PST The Australian employment change is an important leading indicator which often has a significant impact on the markets. Traders and analysts carefully examine employment figures in trying to determine the overall health of the economy. Here are the details and 5 possible outcomes for AUD/USD. Read the rest of the article AUD/USD: Trading the Australian Employment Change

Forex Daily Outlook November 7 2011 Posted: 06 Dec 2011 02:00 PM PST Manufacturing Production in the UK is the main event today.  Here is an outlook on the market-movers awaiting us In the US, Crude Oil Inventories, weekly report to value the crude oil barrels in commercial company's inventory, is about to by remain 3.9M similar to the last week. Read the rest of the article Forex Daily Outlook November 7 2011

Canadian Rate Unchanged – USD/CAD Ticks Down on Positive Economic Assessment Posted: 06 Dec 2011 06:00 AM PST As expected, the Bank of Canada left the interest rate unchanged at 1%. Mark Carney and his colleagues didn’t move this time, but the assessment about Canada’s current situation was good. In the statement accompanied to the decision, the BOC mentioned the growing worries for the global economy, but also discussed an improvement in the US. Read the rest of the article Canadian Rate Unchanged – USD/CAD Ticks Down on Positive Economic Assessment

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