Posted 19 hours ago: SWISS FRANC SOARS on reports that the Swiss National Bank is dumping EURCHF, bailing out of its money-losing interventions, in which it bought EURCHF over past 18 months. The SNB tried defending EURCHF by buying in Q1 2009 at 1.50, followed by more purchases at 1.45, then at 1.43, 1.40 and even at 1.35. Now it seems the SNB is cutting its losses as it continues to close these positions well below the buying levels, thereby, helping CHF against EUR and across the board. Since USD is the days biggest loser, USDCHF is nearing Jan lows of 1.0380s. - Jul 29 09:20

Posted 22 hours ago: USD DROPS ACROSS THE BOARD on a combination of cautious remarks from Moodys about the US credit rating and persistent improvement in the Eurozone consumer sentiment. Although Asian equities finished around neutral territory, markets are decidedly USD-negative. AUD stabilized at 0.89 before rallying over a full cent, eyeing interim resistance at 0.9075. GBPAUD and EURAUD hourly stochastics showing deterioration but daily charts remain bullish. EURUSD continues to eye the 1.3130 target, while USDCAD is increasingly confined to a symmetrical wedge between 1.0275 and 1.0440. RBNZs rate hike proved rather dovish, with the policy statement using words such as deteriorated and subdued regarding future growth and indicating NZD strength to be inconsistent with the growth outlook. - Jul 29 06:16

Posted yesterday: Watch Ashraf's Video Market Analysis discussing AUD, USD, EUR:

http://bit.ly/ 920r5L

And the Latest HOTCHART on GBPAUD:

http://bit.ly/ drvzV6 - Jul 28 12:35

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