Yesterday morning I told you that the euro (EUR) had broken above 1.30, and I would check it to see how long it remained there… Well, this time it was more than 10 minutes, and the euro rose to 1.3040… But then the rug was pulled from under the single unit, and back below 1.30 it went… In fact, it fell to just above 1.29, before turning around once again and heading higher, eventually ending the day at 1.30.
[Read more...]A Euro Short Squeeze
May 21, 2010 By Leave a Comment
I got home last night, and looked at the currencies, and was in shock at the run the euro (EUR) had yesterday while I was gone… The euro climbed all the way to 1.2673! But before you start to kick yourself for selling into the weakness this week, as many people did, the euro has given back 1.50 cents to 1.2525… The thought was that the single unit had gone too far too fast.
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Australian Dollar’s Run May Hit a Short-Term Snag
$3.2 billion. That's the record trade surplus Australia's Bureau of Statistics announced on August 3, thanks in part to Chinese demand for the country's rich iron ore and coal exports. And that's just the latest good news from the island continent that has speculators feeling bullish about the Australian dollar (AUD).
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