Currency markets are becoming a new source of concern for investors as worries over the tumbling dollar and sterling replace a relief that world stocks may have bottomed with a 20-percent rise since November.
The Euro moved higher in overnight trading, rising as high as 1.4045. The British Pound followed, stabilizing near the 1.49 level.
Read the original here: Identifying Trades with DailyFX 12.22.08 (Daily FX)
Oil rose more than $1 to above $43 a barrel on Monday, buoyed by a weaker U.S. dollar and tough talk from top OPEC producers of compliance with their record output cut, while U.S. data showed speculators betting on a bounce.
Mon, 22th of December, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook After break the rectangle formation to the downside on hourly chart, the EURUSD had a bearish momentum on Friday. The pair bottomed at 1.3826 and closed at 1.3907
View original here: Asian Economic Data: 12-22-08 (Daily FX)
- Positive feature on Japan’s Nomura (8604.JP).
China pledged on Sunday to make available to Taiwanese investors in the mainland 130 billion yuan in financing over the next three years, in Beijing’s latest effort to reach out to political rival Taiwan.
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