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The USD and JPY are trading higher supported by declining equity markets sparked by concern that the global economy may slow as central bank began to withdraw economic stimulus measures, Bank of Ireland shares fall 15% sending European equities sharply lower, commodity currencies pressured by equity market weakness, AUD erases…

As the nation lacked major economic data we see today the nation first bank that was nationalized, Northern Rock to split the tainted assets from the banks balance and into a new unit as a way to help the bank stabilize, yet the financial institution are waiting to be approved…

The Euro Zone lacked fundamentals today; however, there was data released from the region’s largest economies. Germany released its import price index, while Italy released its business confidence for October. In Germany, the biggest economy in the euro area, import price index for September slumped to -0.9% from the previous…

* Times listed are GMT

Swiss has risen during the day from the low of 1.0191. Immediate Resistance is seen at 1.0250, a break above which might see a rise towards 1.0280-0300 in the US session today. Note that 1.0292 is the 61.8% retracement level of the fall from 1.0452 (01-Oct) to 1.0034 (21-Oct). And…

As a follow through lower on the pair’s collapse off the 1.5062 level saw it violating key support at the 1.4844 level, its Sept 23’09 high on Tuesday, threats of further downside is now seen towards the 1.4699 level, its daily 50 ema and its Oct 09’09 low at 1.4672….

Although GBP maintained a positive close on Tuesday, that occurred below the 1.6466 level, its strong resistance which must be taken out to signal a move higher targeting the 1.6692 level, its Oct 23’09 high. Until this materializes, downside pressure is still expected towards its Sept 30’09 high at 1.6124…

Dollar/Yen tried to climb on Tuesday, but failed to break up the key resistance at 92.32, dropping later down to 91.60, and closing the day at 91.76, indicating reversal bearish trend. 90.93 remains a strong support today. Convincing break under that level may seriously shake the upward scenario and lead…

Overall, the declines seen in the equity market sent the major pairs into risk aversion mode during the European session. The dollar showed some signs of strength for the third consecutive day, while the Japanese yen advanced against every other major currency. As long as the equity markets stay in…

Risk appetite was slightly weaker in the Asian session, as equity markets failed to shake off a weak US consumer confidence figure. The USD strengthened as a consequence, with the commodity currencies losing the most ground. We believe the markets are starting to really take notice of the mounting disparity…