Emmafx Posted April 24, 2012 Share Posted April 24, 2012 The political uncertainty in Europe has boosted demand for haven assets. France’s presidential election output and political turmoil in the Netherlands are raising concerns that the euro-zone sovereign-debt crisis may re-emerge. Traders focus will turn to today's bond auctions in Spain, Italy and Netherlands. The Netherlands, which Moody's says is facing a 'credit negative' event, is scheduled to sell up to 2.5 billion euros of two- and 25-year bonds later in the day. The Australian dollar fell after CPI number's rose by less than expected last quarter, is paving the way for the Reserve Bank to lower borrowing costs at its May 1 policy meeting. The EUR/USD prices are trading in an upward channel and today we expect it would test the high levels towards the downward trend at the 1.3205-1.3215 area which represents a great opportunities to enter a sell positions. The next targets will be towards the 1.3150/1.3108/1.3050 levels. Source http://www.mbcfx.com/french/news/news_fr24_04.html Quote Link to comment Share on other sites More sharing options...
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