Thursday February 10, 2005 - 16:59:21 GMT
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European Forex Session Wrap-Up - 10/2/2005
European Forex Session Wrap-Up
The European session closes today, february 10th, with the european currencies surging in full against the USD, after a good-but-not-as-expected US trade deficit number, which was reduced by $4bln, to $56bln (expectations were of a decrease to $52bln). I alerted in the morning report that there were some signals of a possible change int he current momentum. Those signals (uSD bearish) proved themselves correct, and now we have a scenario, where, if confirmed, we could see further USD weakness in the coming sessions, without that altering the medium USD bull picture for now.
Trading Recap :At the time of this writing, the EUR is trading around 1.2885 against the greenback, or 75 pips up with respect to european opening levels. GBP is doing around 1.8705, a good 120 pips up, proving the GBP the winner of today’s session. The Swiss Franc –CHF- around 1.2080, gaining (USD loosing) 85. And finally, the Yen around 105.70, down some just mere 10 pips, proving the japnese currency the overall loser for today.
USD small brothers session performance: the AUD is trading around 0.7830, 115 pips down, another winner for today’s session, the NZD trading around 0.7110, or 70 pips up, and CAD trading around 1.2405, up 75 pips.
Economic events to resume for Monday, february 14th. My (valoration) of the economic events of the day goes from 1 to 5 depending on the influence the news has in the market (1 lowest – 5 highest).
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