Tag: U.S DOLLARSort
Happy New Year to our Profit Confidential readers!
George Leong wrote - In 2012, small-cap stocks were the second-best performing group, following the technology sector. The Russell 2000 was the top performer in December and has been since the end of the first quarter. How the small-caps fare this year will, again, depend on the global economy.
Skepticism about the Eurozone being able to get out the debt crisis is on the rise. Many investors are starting to sell their long-term position of the Euro for the U.S Dollar. Although, the U.S Dollar may not be the ‘go-to’ currency for all, it does look more stable than the Euro at this time. On Friday, the EUR/USD dropped to the 1.3626 low … a drop of 250+ pips in one day.
The U.S dollar is surging against all the majors this morning, since the French-German summit last week produced little results to curb the EU debt and bank crisis. The Yen and Swiss Franc played a major role during the U.S and EU economic troubles, but it seems like the Swiss Franc has been weakened after the SNB (Swiss National Bank) decided to intervene.
GBP/USD has been trading sideways for the last 14 days, with no strong trend to incorporate. The U.K Manufacturing Production was reported this morning at -0.4%, lower than the expected +0.3%. Intraday bias remains on the upside, as long as the 1.6004 minor support line is not broken.
Yen Tumbles to 80.25, as Japan Goes for 3rd Intervention in a Year
The Yen tumbles to the 80.25 against the U.S dollar, as the Japanese Government calls for a 3rd intervention in approx. a year. The Japanese Yen is a safe-haven currency and many traders have been shifting their assets from the Euro and U.S dollar due their negative economic outlook.
EUR/USD drops to the 1.4210 low, due to the U.S dollar bullish run and the on-going Greece debt saga. Intraday bias remains on the downside, as long as the 1.4495 minor resistance line is not broken. On the downside, if the 1.4072 low is broken it will continue the bearish sentiment and target the 1.3968 major support line.
EUR USD has dropped to the 1.3524 low, but recouped back to the open position. Intraday bias remains on the downside, as long as the 1.3860 major resistance line is not broken. On the downside, if the currency pair settle below the 1.3447 major support line it will boost the bearish sentiment and target the 1.3243 major support line.