Updated on: 22-02-2012
"Bottomless Pit"
That's how the German Finance minister called Greece. Although in the short term Greece will avoid default, in the long term it is a patient who is totally financed by other European countries that only delayed the bitter end. Some say that in the long term default by Greece is inevitable and the deal only bought time. Time worth 130 billion Euros.
Majors
EUR/USD
Yesterday's rebound did not last in the 1.3290 area and now is trading near 1.3225. "A lot of the good news from Europe is already priced in the market, so today's lower than expected mfg PMI disappointed investors and the pair fell", said an analyst in a major brokerage in Singapore.
USD/JPY
Pair has continued recent advance and is now trading above the 80.00 mark. "Break of 80 may accelerate gains", said a dealer in a foreign bank in Hong Kong yesterday.
USD/CHF
Pair found resistance near 0.93. Support seen at 0.9085.
AUD/USD
Pair has been losing momentum. Traders say that Data from China, a major importer of Australian goods, hurt the AUD. Pair touched 1.0611 low at night, but later rebounded. Support seen at 1.0590-1.0600 area.
Crosses
EUR/JPY
Daily low at 105.49. Daily high 106.32. Up 0.41%.
GBP/JPY
Daily low 125.86. Daily high 126.60. Down 0.04%.
EUR/CHF
Daily low 1.2068. Daily high at 1.2078. Down 0.09%.
Commodities
GOLD
The metal broke the range yesterday and is now trading above $1750 mark. Next resistance seen at $1763.
SILVER
Daily high 34.35. Low at 34.02. Down 0.54%.
Economic Data
15:00 GMT Existing homes sales in the U.S.
For more information check our Eco Calendar.
Check our Market News Section for updated real-time news.
All content is supplied by
AroundFX.com
