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D-Day for Europe? And What's Up with the Yen?

October 26, 2011
The euro has remained firm even as the US S&P tumbled yesterday, Asia stocks slip and expectations for the outcome for today's summit continue to ratchet lower. It does continue to stall out in the $1.3950-60 area. The $1.3840-50 area still marks the first level of support, though the $1.3890 area held in both Asia and Europe.
At most, an …
D-Day for Europe? And What's Up with the Yen? D-Day for Europe? And What's Up with the Yen? Reviewed by Marc Chandler on October 26, 2011 Rating: 5
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CNBC: Waiting on a European Debt Solution CNBC: Waiting on a European Debt Solution Reviewed by magonomics on October 25, 2011 Rating: 5
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Three Political Events that Should be on Your Radar

October 25, 2011
Tomorrow's EU Summit is the markets main focus. The key issue is whether European officials can finally provide closure to the two year old debt crisis and deliver the "comprehensive" and "decisive" package they have repeatedly promised. We are skeptical as governance structures and diverse interests of the stakeholders len…
Three Political Events that Should be on Your Radar Three Political Events that Should be on Your Radar Reviewed by Marc Chandler on October 25, 2011 Rating: 5
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Choppy Consolidation: Flavor of the Day

October 25, 2011
The major currencies are in relatively narrow ranges in choppy trading ahead of tomorrow's EU summits and German parliament vote. The major foreign currencies remain firm as the North American session is about to begin.
Most attention is on the EU and euro zone summit tomorrow, but the German Bundestag vote is very important as well. The vote …
Choppy Consolidation: Flavor of the Day Choppy Consolidation: Flavor of the Day Reviewed by Marc Chandler on October 25, 2011 Rating: 5
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Much Noise but Pattern Holding

October 24, 2011
The pattern in the foreign exchange market remains intake by which the major currencies often move in the direction of the recent trend and some follow through on Monday before some consolidation kicks in. The euro and sterling made new 7 week highs today in early Europe and the Australian dollar made new six week highs. However, as the European s…
Much Noise but Pattern Holding Much Noise but Pattern Holding Reviewed by Marc Chandler on October 24, 2011 Rating: 5
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