Global Economic Calendar (01-Dec-2010)

Global Economic Calendar for 01st December 2010

**Time is respect to Singapore Time (GMT+8:00)

What is going on today?

The Euro fell below $1.30 against the Greenbacks for the first time in more than 10 weeks as investors shunned riskier assets amid speculation Europe’s debt crisis will broaden and as unemployment in the region touched a 12-year high.

The JPY reached its strongest level since 15th September versus the Euro amid speculation China will put in more effort to cool its economy. The CHF and Greenbacks also rose versus major peers as Portuguese, Italian and Spanish government bonds slumped, encouraging demand for a refuge, and data showed U.S. home-price increases rose less than forecast in September.

Global Economic Calendar (30-Nov-2010)

Global Economic Calendar for 30th November 2010

*Time is with respect to Singapore Time (GMT+8:00)

Can Euro hold it???

The declination of Euro reached 1 percent against the Greenbacks and 0.8 percent per JPY. CHF rose 1 percent against the Euro and it advanced against 14 of its 16 main counterparts.

The Italian 10-year debt yield advanced 15 basis points to 4.58 percent as the government auctioned 6.8 billion euros of bonds due in 2013, 2017 and 2021. Credit-default swaps on Spain climbed 24 basis points to 247 while contracts on Portugal increased 36.5 basis points to 538.5, according to CMA, a data provider. The Markit iTraxx SovX Western Europe Index of swaps on 15 governments increased six basis points to a record 194.

Irish bonds fell, erasing earlier gains, sending the extra yield investors demand to hold 10-year Irish bonds instead of benchmark German bunds six basis points higher, widening for the seventh day. The cost of default swaps on Irish government debt rose four basis points to 602, while contracts on Greece dropped 21 basis points to 951, according to CMA.

Global Economic Calendar (29-Nov-2010)

Global Economic Calendar for 29th November 2010
**Time is with respect to Singapore Time (GMT+8:00)

What is happening to the Loonie???

The Loonie (CAD) weakened the most in more than a month against the Greenbacks as heightened concern about Europe’s debt woes and conflict between North and South Korea increased demand for assets considered havens.

Loonie was among four of the 16 most-traded currencies that performed the worst against Greenbacks on 27th November 2010. Loonie and its commodity-linked peers in Australia and New Zealand also dropped as resource prices declined on speculation that the Chinese will increase borrowing costs further.

From the attached chart of USD/CAD (Weekly) as of 27th Nov 2010 at 4:40am(Singapore Time). After the resistance at the Triple Top, there was a strong downside movements but it appears to be slowing down with current support around 0.9950 area. If we are looking on the upside movements of if there is any, we can look at Fibo 23.6% for 1st resistance followed by Fibo 38.2%. Any higher than this, we would need more confirmation and market commitment because frankly, I still do not trust the Greenbacks just yet.

Revival of ForexNewsPaper.blogspot.com

It has come to a decision that the revival of ForexNewsPaper.blogspot.com will be effective as of 27th November 2010.

The author have decided to revive this blog with emails demands from readers of ForexNewsPaper.blogspot.com

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ForexNewsPaper.blogspot.com