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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
looks like Euro moving higher to 4320 level..... and Aud to 1.0320....
only posi = dingo longo
gl
EURGBP spikes on broad GBP decline following a new slump in UK retail sales. These fell 0.8% in Feb following the 1.9% Jan increase. The recurring problem of falling sales volumes and rising stick prices (resulting from retailers passing on VAT hike to consumers) is taking away from GDP, which further complicates the consequences of any rate hikes from the BoE.
Moodys downgraded 30 Spanish banks on the basis that Spain is unable to assist all struggling banks. Another $15 bln is estimated to be needed by local banks.
EURCAD remains intrack with further declines along this charthttp://chart.ly/nrjnhgp and AUDUSD nearing the top of the 1.0180s resistance, getting the attention of Aussie shorts for 40-50 pip targets.
Ashraf
seen possible..
or below 4000 level....
looks like Euro moving lower to test 4090/4100 support...