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FX Levels for Today November 10, 2008
Mon, Nov 10 2008, 03:12 GMT
by Abdul Khan
Income Generation Strategies | View company's profile
Overview
The USD softness from Friday has continued in early Asian trade today.
Rather than focusing on Friday's NFP report, the markets have been buoyed by news of a $600Bln stimulus package from China, and hopes that AIG may have some good news soon regarding its woes. Asian stocks are higher, along with crude oil, and EUR and AUD as traders look for a bit more risk, but this could be very short-lived.
Quite possibly, we may see traders use this pop-up today as an opportunity to establish fresh shorts, or look to buy the pullback in the USD looking for a move back up towards 90.00 in the Dollar Index.
Earlier today, the RBA came out with as expected dovish comments regarding the Australian economy. The AUD pulled back slightly, but then moved back above 0.6900 on widespread USD weakness.
Data for Today
GER: CPI
UK: PPI
Trades for Today
EUR: Buy dips to 1.2830
AUD/NZD: Buy dips towards 1.1380
Gold: Buy dips to 740
Published on
Mon, Nov 10 2008, 03:24 GMT
Archive
- FX Levels for Today. August 14, 2009
Published On Fri, Aug 14 2009, 01:34 GMT
- FX Levels for Today. August 13, 2009
Published On Thu, Aug 13 2009, 02:20 GMT
- FX Levels for Today. August 10, 2009
Published On Mon, Aug 10 2009, 01:55 GMT
- FX Levels for Today. August 6, 2009
Published On Thu, Aug 6 2009, 02:04 GMT
- FX Levels for Today. August 5, 2009
Published On Wed, Aug 5 2009, 02:07 GMT
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