News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:https://t.co/TK3MNntBdA https://t.co/14UKjR4w6M
  • GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt. Get your market update from @HathornSabin here:https://t.co/3D8s2eIVWv https://t.co/JDGNwKYyOn
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sIauS https://t.co/JIT5it2HAt
  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here: https://t.co/g9QvH3L4It https://t.co/Vz98E0Bl9U
  • Gold has been trending lower after failing to clear resistance in the $1835 area earlier this month. Get your $XAUUSD market update from @DColmanFX here:https://t.co/3hm1g3BHgf https://t.co/MdTQKEBCBx
  • Key break here in the 10-year #Treasury yield as it rises to the highest since late June Took out 1.4230 resistance, and the 100-day SMA Eyes now on the 38.2% Fib extension at 1.4775 Also potential falling resistance from March https://t.co/4cI6l210ui
  • The move in rates after this week’s FOMC has continued and the 10 year yield has pushed up to a fresh two-month-high. Get your market update from @JStanleyFX here:https://t.co/CRWhuZ3sxD https://t.co/svHHqN2Zz8
  • S&P 500 contending with its proverbial ‘line in the sand’ as bulls and bears battle for directional control. How we close/trade around the 50-day moving average could serve as a noteworthy bellwether for risk trends headed into next week. I remain cautious below ~4,480. $SPX $ES https://t.co/qogkjs1Sx2
  • USD/JPY trades to a fresh monthly (110.57) amid the pickup in longer-dated US Treasury yields, and the exchange rate may stage a larger advance over the coming days. Get your market update from @DavidJSong here:https://t.co/dlNXOrJnM9 https://t.co/LCQd26W1zF
  • US yields continue to climb, with the 10-year Treasury yield trading above 1.45% $ZN $ZB https://t.co/N4EDfwD3nZ
Forex News: Euro Unaffected by Greece Buyback Announcement

Forex News: Euro Unaffected by Greece Buyback Announcement

Benjamin Spier, Technical Strategist

Today’s European session hasn’t seen much Euro movement, as the EURUSD pair seems comfortable above the key 1.3000 line. The pair crossed above 1.3000 only a few hours after the start of the session and set a new monthly high at 1.3049.

There has been a lot of news and releases during the session, but with little affect on the single currency. Greece offered to buy back as much as 10-billion Euros of bonds issued in a restructuring earlier this year, as an attempt to cut its debt load. The government said they will buy back bonds in a so called Dutch auction, and the government is willing to pay an average maximum purchase price of 34.1% for bonds maturing from 2023 to 2042. Although yields on Greek 2023 bonds fell below 15% for the first time since the debt restructuring, the Euro did not see much change following the announcement.

Overnight we found out that Moody’s downgraded the ESM and EFSF bonds, but that didn’t stop the single currency rally.

In economic releases, the Euro-zone PMI for manufacturing confirmed an earlier estimate, and the UK PMI for manufacturing slightly disappointed expectations. Also in the UK, the Bank of England reported that so far 4.36 billion Pounds have been borrowed under the Funding for Lending Scheme.

EURUSD is currently trading around 1.3035, resistance could be provided by the 2-month high at 1.3139. Support could be provided at 1.3026, by the 76.4% retracement of the decline from October’s high to November’s low.

EURUSD Daily: December 3, 2012

Euro_Unaffected_by_Greece_Buyback_Announcement_body_eurusd_daily_chart.png, Forex News: Euro Unaffected by Greece Buyback Announcement

--- Written by Benjamin Spier, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES