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The euro is back to unchanged against the greenback at $1.4355 in early U.S. trading after earlier reaching $1.4405 following an encouraging reading of business and investor confidence. However, the dollar is not giving in so easily this morning, for now at least, and appears to be fighting its way…

Intraday bias in EUR/USD is still on the downside with 1.4424 minor resistance intact. Current fall from 1.5143 is still expected to continue to next target of 38.2% retracement of 1.2329 to 1.5143 at 1.4068. On the upside, above 1.4424 minor resistance will turn intraday bias neutral and bring recovery….

German Ifo business climate rose to 17 month high of 94.7 in November and beat expectation of 94.5. Current conditions and expectations gauges also improved to 90.5 and 99.1 respectively. Ifo chief economist Gernot Nerb said that exports to China and to Asia are bringing some momentum in the manufacturing…

The USD is trading mixed to lower as equity markets rebound, with the EUR supported by report of better than expected German IFO and that the EU posted a trade surplus in October, GBP supported by the release of the BOE’s financial stability report which says the banking system is…

A quiet day for the US economy, since no fundamentals are scheduled to be released today, while pessimism dominated stock markets yesterday, though data released signaled that the world?s largest economy is indeed recovering from the worst recession since WWII, as conditions continue to improve though gradually, yet still it…

The major currencies were helped by S&P futures and by the cash equity market in gaining a few pips during the overnight session. However, compared to the sell-off seen over the last two weeks of trading, this intra-day uptrend is very small. Unless the cash and equity markets continue to…

Looking at the underlying fundamentals, the blunt truth is that they are lousy for all the major currencies. The dollar and Sterling are still in major jeopardy given the extent of credit and banking-sector risks together with huge budget deficits. The Euro is also at serious risk from structural weaknesses…

Cable has traded higher during the day and recorded a high of 1.6249. Today being the last day of the week, the pair may not do much and may oscillate between the Projected Max High and Low for the day which is at 1.6302 and 1.6058 respectively. On a break…

The current level of Ifo expectations signals a strong rebound in industrial production – industrial production growth rates should increase sharply to around 1 % y/y. The Ifo institute says that ECB is unlikely to hike rates before H2 2010. We expect a first hike in August 2010. Ifo expectations…

As the single currency is still under pressure, suggesting downside risk remains and test of 1.5231 support cannot be ruled out, however, only breach of 1.5186 would signal the erratic decline from 1.7509 has resumed, then a stronger correction of the rise from 1.3289 would be seen for further weakness…