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Bailout, Yellen, China help send EUR higher finally

By   || March 12, 2010 at 13:07 GMT
|| 1 comment || Add comment

News than German and France are ready to back a debt guarantee for Greece, combined with the anticipated nomination of the dovish Janet Yellen to be vice-chair of the Federal Reserve Board along with a warning from China to Obama to not “politicize the yuan” have combined to push EUR/USD close the 1.3800 level.

Technical warning signs and a rally in equities have been setting the stage all week for this move, and thank goodness it has finally come. Boredom would have claimed us all before long, had it not…

Retail sales are the next focus. A -0.2% drop is expected amid February’s blizzards. A 0.1% rise is seen after auto sales are stripped out.

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One Response to “Bailout, Yellen, China help send EUR higher finally”

  1. alfred on March 12th, 2010 13:25 GMT

    i would add a big NY investment house recommending buying EUR/USD, target 4500, stop 3500 (accdg to Garry)

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