Tuesday, September 15, 2009

Euro seems exhausted in the hourly chart

FXstreet.com (Buenos Aires) – EUR/USD Current Price: 1.4667. Consolidating close to Monday’s highs, pair seems a bit exhausted in the hourly chart, with both momentum and RSI, pointing for a downside correction despite Nikkei 225 open up 0.7%, supporting some risk appetite, if managed to extend the upside rally. Still above 20 SMA with a bullish slope, break above yesterday’s high of 1.4686 will send the pair to test the 1.4720 zone ahead of 1.4770 next resistance level.

“To the downside, 1.4610 should keep corrective movements capped to support further rises in the next hours, “ said Valeria Bednarik, collaborator at FXstreet.com. Bigger time frames show pair is consolidating inside a small continuation triangle, so as long as 1.4655 support remains intact, figure will remain valid.

Support levels: 1.4655 1.4630 1.4600. Resistance levels: 1.4720 1.4770 1.4830.

EUR/USD (Sep 16 at 05:43 GMT)

1.4677/79 (0.10%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

Euro seems exhausted in the hourly chart

FXstreet.com (Buenos Aires) – EUR/USD Current Price: 1.4667. Consolidating close to Monday’s highs, pair seems a bit exhausted in the hourly chart, with both momentum and RSI, pointing for a downside correction despite Nikkei 225 open up 0.7%, supporting some risk appetite, if managed to extend the upside rally. Still above 20 SMA with a bullish slope, break above yesterday’s high of 1.4686 will send the pair to test the 1.4720 zone ahead of 1.4770 next resistance level.

“To the downside, 1.4610 should keep corrective movements capped to support further rises in the next hours, “ said Valeria Bednarik, collaborator at FXstreet.com. Bigger time frames show pair is consolidating inside a small continuation triangle, so as long as 1.4655 support remains intact, figure will remain valid.

Support levels: 1.4655 1.4630 1.4600. Resistance levels: 1.4720 1.4770 1.4830.

EUR/USD (Sep 16 at 05:43 GMT)

1.4677/79 (0.10%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

Yen remains under 91.00

FXstreet.com (Buenos Aires) – USD/JPY Current Price: 90.86. Back bearish after strong retreat form 91.70 key resistance level, pair remains under 91.00 and with a bearish outlook in the hourly chart; capped by 20 SMA and with indicators pointing for further losses, if the pair breaks under 90.55 support, expect a retest of the 90.20 zone; under this last, pair should accelerate the fall with a midterm target at 87.10, past January lows.

“Only above 91.35 pair could change bias, “said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 90.55 90.20 89.80. Resistance levels: 91.10 91.35 91.70.

USD/JPY (Sep 16 at 05:43 GMT)

90.95/97 (-0.05%)

H 91.17 L 90.76

S3S2S1R1R2R3
90.500290.727690.955091.065091.292791.5203
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

Yen remains under 91.00

FXstreet.com (Buenos Aires) – USD/JPY Current Price: 90.86. Back bearish after strong retreat form 91.70 key resistance level, pair remains under 91.00 and with a bearish outlook in the hourly chart; capped by 20 SMA and with indicators pointing for further losses, if the pair breaks under 90.55 support, expect a retest of the 90.20 zone; under this last, pair should accelerate the fall with a midterm target at 87.10, past January lows.

“Only above 91.35 pair could change bias, “said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 90.55 90.20 89.80. Resistance levels: 91.10 91.35 91.70.

USD/JPY (Sep 16 at 05:43 GMT)

90.95/97 (-0.05%)

H 91.17 L 90.76

S3S2S1R1R2R3
90.500290.727690.955091.065091.292791.5203
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

USDJPY: Importer bids towards 90.70

Importer bids on the downside towards 90.70 has held USDJPY from slipping further today. Bids were tested earlier but not filled. There are more bids back towards 90.50 and 90.20. Topside, sellers are scattered all the way back up to the overnight high, with stops now above 92.00

Quick look at order books

With risk appetite high, the AUDUSD has continued to grind higher, taking out some small stops above 8650. Market is focusing on 8680, but have heard from a few traders that there are some good seller orders just ahead of 8700 with more stops above. Downside suppor,t firmly in place at 8620 for the day.

Euro still strong supported by risk appetite

Tue, Sep 15 2009, 23:56 GMT
http://www.fxstreet.com

FXstreet.com (Buenos Aires) - The EUR/USD remains strongly bullish, consolidating close to past Monday’s high; that signals chances of further upside movements are high, with key 1.4720, past December high, as first resistance level to consider; as there are also good chances of stop losses just above that level, expect the pair to gain momentum if breaks the resistance, with next level to watch at 1.4770, followed by the 1.4830 zone. To the downside, first support lies at 1.4650, followed by the 1.4605 level, and strong 1.4550 support zone.

Asian stocks are expected to open higher following Wall Street, yet at least this week that was something that did not happened; with non fundamental data to watch, currencies will likely follow Nikkei 225 and Shanghai Composite during this session. If both fall, expect some downside correction in the pair, thus limited as sentiment will likely keep Euro well bid.

EUR/USD (Sep 16 at 05:35 GMT)

1.4675/79 (0.08%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]

New highs for stocks; new lows for the Dollar

Tue, Sep 15 2009, 21:49 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – Comments and data fueled equities in the U.S. Wall Street rose and main stock indexes posted fresh highs for the year. The Dow Jones closed at 9680 points and the S&P500 at 1053; both closed at the highest level since October of 2008. Ben Bernanke said that the recession is “likely over” and earlier the Commerce Department announce that retail sales jumped 2.7% on August, while analyst where expecting an increase of 2%. The Dollar fell across the board again posting fresh multi-month low against the Euro and the Swiss Franc.

Dollar weakness continues

EUR/USD jumped during the American session rising from 1.4580 to 1.4688, posting the highest price since December. Greenback failed to hold gains and lost ground. The pair has fallen seven times in the last eight days.

Cable fell across the board on Tuesday but during the American session recovered part of the losses. GBP/USD bottomed at 1.6400 (one-week low) and from there rose, but failed to hold above 1.6500. The par fell for second day in a row. Against the Euro, Cable plunged to a 4-month low. EUR/GBP rose above 0.8840 to 0.8890.

The Yen finish mixed across the board. USD/JPY is back above 91.00 but only a few pips on top of the opening price. GBP/JPY tumbled to 149.40 posting a two-week low. Currently the pair is holding above 150.00. EUR/JPY rose breaking above key level at 133.30.

EUR/USD (Sep 16 at 05:35 GMT)

1.4675/79 (0.08%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]
FXstreet.com

Forex: USD/JPY back above 91.00

Tue, Sep 15 2009, 20:45 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – The Dollar managed to recovered against the Yen after falling to 90.80. The Japanese currency weakened and failed to hold below 91.00 against the Dollar. USD/JPY is back on top of 91.00 but only a few pips above. The pair is rising for the second day in a row, current price at 91.05/07 is 0.20% above today’s opening price. Despite the increase Greenback is far form intra-day high that was set during the European session at 91.60.

The Yen is rising for the day against Cable but in the last hours the rally eased. GBP/JPY is back above 150.00 after falling 149.50 posting the lowest price in two weeks. EUR/JPY on the other side is rising and consolidating above 133.50 which suggest that the pair could continue rising in the next hours. The next resistance above 133.70 lies at 134.15.


EUR/JPY (Sep 16 at 05:36 GMT)

133.51/56 (0.07%)

H 133.72 L 133.2

S3S2S1R1R2R3
132.90133.23133.57133.73134.06134.39
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/JPY technical studies ]

Forex: GBP/USD rebounds at 1.6400 and tests levels above 1.6500

Tue, Sep 15 2009, 19:48 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – Cable found support at 1.6400 and from there started to rise. GBP/USD topped at 1.6510 posting the highest price for the American session. The rally in U.S. equities boosted Cable. Currently the pair is back below 1.6500 and is still down for the day, 0.50% below today’s opening price. The next resistance lies at 1.6520 (Sep 14 low) and above at 1.6590.

Against the Euro, the Pound plunged today falling to a fresh 4-month low. EUR/GBP rose to 0.8895 posting the highest price since May 15th.


EUR/GBP (Sep 16 at 05:36 GMT)

0.8914/20 (0.26%)

H 0.89192 L 0.8886

S3S2S1R1R2R3
0.88670.88900.89120.89210.89430.8966
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/GBP technical studies ]

Forex: Euro rises to 1.4678, fresh 2009 high

Tue, Sep 15 2009, 17:47 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – The rise in equities is sending Greenback down across the board. EUR/USD recently broke above 1.4652 to 1.4678, posting a fresh high for the year. The pair is now 0.25% above today’s opening price and is extending a seven day rally. On the upside the next resistance lies at 1.4700 and above at 1.4715 (Dec 18 high).

The FastBrokers Research Team affirms: “Technically speaking, the EUR/USD is still riding high off of last Tuesday’s breakout to the topside. The currency pair continues to set higher lows while trading above the psychological 1.45 level. We still place significance on Tuesday’s movement since the EUR/USD leapt to new 2009 highs. There aren’t any concrete, historical downtrend lines we can cross through present ranges. Hence, the medium-term uptrend is clearly intact. “


EUR/USD (Sep 16 at 05:31 GMT)

1.4678/79 (0.10%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]
FXstreet.com

Forex: Greenback falls below 91.00 against the Yen

Tue, Sep 15 2009, 17:22 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – The rise in U.S. markets boosted the Yen against the Dollar in the last hours. USD/JPY fell below 91.00 to 90.80, only two pips above intra-day low at 90.78. In case the pair breaks below the next support lies at 90.60. Current price at 90.92/94 is 0.05% above today’s opening price. On the upside resistance is located at 91.55 (intra-day high) and above at 91.90 and 92.10.

The FastBrokers Research Team afirms: “Despite the USD/JPY’s negative tendency, the currency pair seems to be running out of room to the downside since it has historical trading ranges nearby dating back to December 2008 and January 2009 lows. Meanwhile, investors continue to act off of the belief that the DPJ will enact economic policies supportive of a stronger Yen. However, it remains to be seen whether the BoJ will alter its monetary policy approach in any dramatic way.”

USD/JPY (Sep 16 at 05:31 GMT)

90.99/03 (-0.01%)

H 91.17 L 90.76

S3S2S1R1R2R3
90.500290.727690.955091.065091.292791.5203
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

Forex: EUR/USD trades above 1.4600 after bouncing at 1.4560

Tue, Sep 15 2009, 16:42 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) – The Euro is trading back above 1.4600 level against the Greenback after falling 65 pips from 1.4626 to post intra-day low at 1.4560 in the minutes following the better than expected US retail sales report. During the American session, euro has recovered almost all of its previous losses and pair has risen to trade above 1.4600.

Currently the pair is trading around 1.4605/15, 0.10% below today's opening price action at 1.6578.

According to Mohammed Isah, technical analyst at FXTechtrade, current downtrend is a corrective one and the Euro will resume uptrend: "Its overall trend remains higher suggesting that the mentioned price action remains corrective of its MT uptrend. In such a case, its minor support printed Monday at 1.4514 will come in as initial support ahead of its stronger support residing at the 1.4446 level, its Aug 09 high where a reversal of roles is expected to turn EUR higher again."

EUR/USD (Sep 16 at 05:31 GMT)

1.4678/79 (0.10%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]

CURRENCIES: Dollar Gains After Retail Sales, Price Data

Tue, Sep 15 2009, 15:54 GMT
http://www.djnewswires.com/eu

CURRENCIES: Dollar Gains After Retail Sales, Price Data

By Deborah Levine

The dollar gained versus major counterparts Tuesday, after a pair of economic reports said retail sales and producer prices rose more than economists expected, encouraging speculation that the economy is reviving.

The dollar index (DXY), a measure of the U.S. unit against a basket of rival currencies, traded at 76.822, up from 76.727 in New York trade Monday afternoon.

The dollar rose to 91.18 Japanese yen, up from 91.02 yen late Monday.

Retail sales rose 2.7%, in large part stemming from the so-called "cash-for-clunkers" program. Still, excluding automobiles, sales increased 1.1%.

A separate report showed wholesale prices rose 1.7% last month. Excluding food and energy, prices increased 0.2%, also more than expected.

A third report from the New York Federal Reserve Bank said its Empire State Manufacturing index rose to 18.9 in September from 12.1 in August.

"This morning's economic reports were overwhelmingly positive for the U.S. dollar with fundamentals overshadowing risk appetite," said Kathy Lien, director of currency research at Global Forex Trading.

For months, the greenback has tended to move in the opposite direction as equities as investors' willingness to buy riskier assets fluctuates. That trend has shown signs of diminishing in the past month or so, and resuming its more traditional correlation to economic data.

"The feel good effect of today's numbers provided players with an excuse to trim back on short U.S. dollar positions with the greenback clearly in oversold territory," said Michael Woolfolk, senior currency strategist at Bank of New York Mellon.

The dollar stayed up after another report said business inventories declined 1% in July, roughly in line with expectations.

The euro traded at $1.4604, from $1.4614 versus the dollar on Monday.

The single currency was under more pressure in the overnight session after a gauge of German investor confidence posted a weaker-than-expected rise in September, but then trimmed losses.

The Mannheim-based Center for European Economic Research, or ZEW, said its economic expectations index rose to 57.7 in September, up from 56.1 in August. Economists had forecast a rise to 59.5.

British pound

The British pound was the big mover on currency markets, dropping versus the greenback and falling to a three-month low versus the European single currency after Bank of England Governor Mervyn King said the Monetary Policy Committee was considering a cut in the deposit rate paid on some reserves held by commercial banks at the BOE.

Such a move would penalize banks for holding reserves above a certain level at the central bank, spurring them to buy bonds and other assets. That would effectively expand the central bank's quantitative-easing program, analysts said.

The pound fell 0.9% versus the U.S. dollar to $1.6431. The euro moved to its highest level against sterling since June, and changed hands in recent action at 88.92 pence.

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=TGHFz2YpriWEC26XTTeOsA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

September 15, 2009 11:54 ET (15:54 GMT)


Forex: GBP/USD extends decline to 1.6400 as fresh 1-week low

FXstreet.com (Barcelona) – The Sterling has continued with its today's drop against the Greenback on the back of the King's morning comments and the better than expected US today's data. GBP/USD has fallen 260 pips since the early European session from intraday high at 1.6660 to test 1.6400 and trade at 1-week low levels.

Currently the pair is trading around 1.6520/30, 0.90% below today's opening price action at 1.6578.

Valeria Bednarik, FXstreet.com collaborator, comments: “Strong fall in Gbp, halted around static support zone around 1.6440, suggest some upside correction before another attempt to break lower, as hourly indicators reached oversold conditions. Bigger time frames turned bearish yet 200 EMA in 4 hours charts, around mentioned 1.6440 is capping the downside. We need to see the pair clearly under to call for further downside movements here.”

Bednarik provides us with her levels: “Support levels: 1.6440 1.6400 1.6370. Resistance levels: 1.6480 1.6520 1.6550.”

GBP/USD (Sep 16 at 05:32 GMT)

1.6457/62 (-0.17%)

H 1.6513 L 1.6449

S3S2S1R1R2R3
1.63741.64151.64561.64701.65111.6552
[?]Trend Index[?]OB/OS Index
NeutralNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View GBP/USD technical studies ]

WORLD FOREX: Dollar Remains Higher On Encouraging US Data

WORLD FOREX: Dollar Remains Higher On Encouraging US Data

By Bradley Davis
Of DOW JONES NEWSWIRES


NEW YORK (Dow Jones)--The dollar remains stronger against the euro and yen late morning Tuesday after better-than-expected U.S. economic data gave the U.S. currency at least a temporary lift from its post-summer slide.

Whether the dollar can sustain its burst of strength is uncertain, analysts said. In choppy trading, the U.S. currency has already given back some of its post-data gains to the yen and euro.

The latest report on retail sales, which analysts had said are key to a U.S. economic recovery, came in better than expected, with a 2.7% increase, boosted by the government's "Cash for Clunkers" car-buying program. The U.S. Producer Price Index rose 1.7% in August, higher than the 1% analysts had expected.

In addition, the New York Fed's Empire State business-conditions index climbed to 18.88 in September, its highest level since late 2008.

The three reports painted a more encouraging picture of the U.S. economy than investors have been accustomed to seeing.

That the dollar gained on positive U.S. data could be a sign that the dollar sell-off has hit a floor, said Brian Dolan, chief currency strategist at Forex.com in New Jersey.

Late Tuesday morning in New York, the euro was at $1.4596 from $1.4612 late Monday, according to EBS via CQG. The dollar was at Y91.29 from Y91.00. The euro was at Y133.25 from Y132.98. The U.K. pound was at $1.6440 from $1.6562, while the dollar was at CHF1.0387 from CHF1.0355.

The euro had been on a tear against the dollar since the U.S. Labor Day holiday last week, when risk appetite flooded back into the market. The euro hit a nine-month high against the dollar on Monday.

The common currency slipped below $1.4561 in morning trading as investors repositioned after the U.S. data and consolidated after the euro's recent rally.

Still, traders said they expected the euro to remain within its new range.

"We believe the euro extended itself last week, and I think we're just consolidating in these ranges," said Greg Salvaggio, vice president of capital markets at Tempus Consulting in Washington.

The euro within the next few days should trade in a range from $1.4450 to $1.4650, said Sacha Tihanyi, a currency strategist with Scotia Capital in Toronto.

Even if the dollar is given temporary boosts by improving U.S. economic data, the euro is likely to strengthen to $1.50 by the end of the year, based on concerns over U.S. fiscal health, including mounting deficit spending, Tihanyi said.

A significant decline in the dollar had been called a threat to U.S. financial stability in comments Monday from San Francisco Federal Reserve President Janet Yellen. She added that the Fed doesn't have control over the currency, but takes the dollar's movements into consideration when setting monetary policy.

Meanwhile, the pound fell sharply overnight - and continues to fall - after Bank of England Governor Mervyn King said cutting the rates that the BOE pays on deposits could be a "useful supplement" to monetary policy.

The pound sank swiftly from $1.66 to the $1.6525 area, a six-day low against the dollar, immediately after King made the comments in a testimony to a parliamentary committee. It later kept on falling.

Similarly, the euro shot up from GBP0.8786 to GBP0.8828, marking a three-month high against the pound.

"The fact that he made comments around the scope for a rate cut is not supportive for the currency. Given that sterling has performed quite well of late, this is a reality check," said Phyllis Papadavid, a currencies analyst at Societe Generale in London.

-By Bradley Davis, Dow Jones Newswires; 212-416-2654; bradley.davis@dowjones.com

(Katie Martin in London, Cassandra Sweet in San Francisco, Paul Evans in Toronto and Riva Froymovich in New York contributed to this article.)

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=TGHFz2YpriWEC26XTTeOsA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

September 15, 2009 11:26 ET (15:26 GMT)

U.S. markets fluctuates to negative territory after a positive opening

FXstreet.com (Barcelona) - U.S. markets have reversed after a slightly positive opening, buoyed by upbeat macroeconomic figures, to go through moderate losses oner hour after opening levels. Currently Wall Street is mixing red and green numbers.

Dow Jones Industrials Index drops 0.1%, while the Nasdaq Index edges up 0.14% but the S&P Index trades 0.15% below its opening level, one hour after the opening.

GBP/USD remains trading very close to intra-day low at 1.6415, as the pair remains several pios below 1.6450, the EUR/USD has bounced at 1.4560 low as the pair tests levels right below 1.4600 and the USD/JPY has ulled down from intra-day high at 91.65 and is testing levels at previous intra-day high 91.25.

EUR/USD (Sep 16 at 05:31 GMT)

1.4678/79 (0.10%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]
FXstreet.com

CURRENCIES: Dollar Adds To Gain After Retail Sales, Price Data


CURRENCIES: Dollar Adds To Gain After Retail Sales, Price Data

By Deborah Levine

The dollar gained versus major counterparts Tuesday, after a pair of economic reports said retail sales and producer prices rose more than economists expected, encouraging speculation that the economy is reviving.

The dollar index (DXY), a measure of the U.S. unit against a basket of rival currencies, traded at 76.936, up from 76.727 in New York trade Monday afternoon.

The dollar rose to 91.22 Japanese yen, up from 91.02 yen late Monday.

Retail sales rose 2.7%, in large part stemming from the so-called cash-for-clunkers program. Still, excluding automobiles, sales increased 1.1%.

A separate report showed wholesale prices rose 1.7% last month. Excluding food and energy, prices increased 0.2%, also more than expected.

A third report from the New York Federal Reserve Bank said its Empire State Manufacturing index rose to 18.9 in September from 12.1 in August.

"This morning's economic reports were overwhelmingly positive for the U.S. dollar with fundamentals overshadowing risk appetite," said Kathy Lien, director of currency research at Global Forex Trading.

For months, the greenback has tended to move in the opposite direction as equities as investors' willingness to buy riskier assets fluctuates. That trend has shown signs of diminishing in the past month or so, and resuming its more traditional correlation to economic data.

The dollar stayed up after another report said business inventories declined 1% in July, roughly inline with expectations.

The euro traded at $1.4577, from $1.4614 versus the dollar on Monday.

The single currency came under pressure after a gauge of German investor confidence posted a weaker-than-expected rise in September, but then trimmed losses.

The Mannheim-based Center for European Economic Research, or ZEW, said its economic expectations index rose to 57.7 in September, up from 56.1 in August. Economists had forecast a rise to 59.5.

British pound

The British pound was the big mover on currency markets, dropping versus the greenback and falling to a three-month low versus the European single currency after Bank of England Governor Mervyn King said the Monetary Policy Committee was considering a cut in the deposit rate paid on some reserves held by commercial banks at the BOE.

Such a move would penalize banks for holding reserves above a certain level at the central bank, spurring them to buy bonds and other assets. That would effectively expand the central bank's quantitative-easing program, analysts said.

The pound fell 0.9% versus the U.S. dollar to $1.6428. The euro moved to its highest level against sterling since June, and changed hands in recent action at 88.77 pence.

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=TGHFz2YpriWEC26XTTeOsA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

September 15, 2009 10:22 ET (14:22 GMT)

Wednesday, September 2, 2009

EURJPY retreats, unable to break above 132.20

Wed, Sep 2 2009, 03:30 GMT

The sellers we mentioned earlier at 132.20 seem to have won the first round, with EURJPY unable to move up thru that level and retreating back to 131.80. We should note that the Chinese Index has also come off its highs, now up only 0.07%. Traders are weary of a reversal back into negative territory, thus trimming risk positions.

Asian markets, mostly down following Wall Street, Euro and Pound, lower

Wed, Sep 2 2009, 06:04 GMT

FXstreet.com (Barcelona) - Asian stock markets are going through losses on Wednesday following a negative session in Wall Street, while Chinese stocks rose. Euro and Pound are trading at week lows after Tuesday's declines.

Japanese Nikkei Index declined 2.8%, with South Korean Kospi Index 0.7% lower. Australia's S&P Index declined 2.0% and Hong Kong's Hang Seng Index dropped 1.8%. Chinese Shangai Composite Index rose 0.5%.

Banks, commodity producers and exporters have been the biggest losers in a session dominated by risk aversion, on the back of considerable declines on U.S. markets, with investors concerned about further turmoil in the banking sector, as well as in the industrial sector and in global economy.

Euro and Pound retreat to week lows

EUR/USD took a big dip on Tuesday's U.S. session, from 1.4379 high during European trading time, the Euro plunged all the way to 1.4177 on U.S. session, to consolidate during Asian trade in a range from 1.4200 to 1.4227.

GBP/USD rallied on Tuesday's Asian session to a week high at 1.4375 to drop afterwards to 1.6115 low, which so far has hold Pound's decline, and the pair attempted to appreciate reaching levels around 1.6175 ahead of the European session opening.

USD/JPY rose on Tuesday's U.S. session to 93.45, to drop later to intra-week low area at 92.50. During Asian session, the pair has launched a shy recovery attempt, reaching levels around 92.90 at the time of writing.

EUR/USD (Sep 02 at 07:33 GMT)

1.4219/23 (0.00%)

H 1.4247 L 1.4187

S3S2S1R1R2R3
1.41341.41691.42051.42251.42611.4296
[?]Trend Index[?]OB/OS Index
NeutralNeutral
Data updated on Sep 02 at 07:30 (15-minute timeframe)

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EUR/USD: Euro consolidating above 1.4200

Wed, Sep 2 2009, 06:20 GMT

FXstreet.com (Barcelona) - The Euro took a big dip on Tuesday's U.S. session, from 1.4379 high during European trading time, plunging all the way down to 1.4177 on U.S. session, to consolidate during Asian trade in a range from 1.4200 to 1.4227.

Initial resistance level lies at 1.4225 Asian session high, and, in case of further appreciation, next resistances could come at 1.4255 (Aug 31 low) and 1.4280/85 congestion area. On the downside, initial support lies at 1.4190 intra-day low, and below there 1.4175 (Sept 1 low) and 1.4155 (Aug 18 high).

EUR/GBP rose on Tuesday's European session to 0.8835 high to decline during following sessions, reaching levels around 0.8785 at the time of writing. On a wider perspective, the pair continues consolidating in a range from 0.8770 from 0.8840 after its rally from 0.8520 low on August 17. Support levels lie at 0.8770 and 0.8710. On the upside, resistance levels are 0.8840 and 0.8860.

EUR/USD (Sep 02 at 07:33 GMT)

1.4219/23 (0.00%)

H 1.4247 L 1.4187

S3S2S1R1R2R3
1.41341.41691.42051.42251.42611.4296
[?]Trend Index[?]OB/OS Index
NeutralNeutral
Data updated on Sep 02 at 07:30 (15-minute timeframe)

[ View EUR/USD technical studies ]