Your Friend LLC

The dollar and the Japanese yen bulls took control of the market on Friday, with the greenback strengthening across the board. These gains follow yesterday’s ECB press conference, where Mr. Trichet re-iterated the idea that the U.S. authorities support a strong dollar. Interestingly, over the last few trading sessions, the…

So far in 2010 global markets have been inching further forward by the day. Risk appetite keeps pulling through no matter what events are thrown at it. As the week draws to a close it’s the dollar index that’s on the rise, but not for the obvious reasons of vigorous…

The cross is now following through to the downside on the back of its Thursday weakness and looks to head even further lower after invalidating the 131.24 level in early trading today. That leaves the next downside target at its Dec 16?09 high at 130.76 followed by the 129.19 level,…

The U.S. economy continues to show more signs of improvement, where activity in the manufacturing, services, and housing sectors started to rebound, as the recovery seems to be undergoing indeed, however, the recovery will take some time before conditions are back to normal, while the outlook for inflation remains rather…

Risk appetite continues to be shaky and markets remain nervous. Asian regional indexes are slightly higher, with European equity markets following. Early participants were abuzz with rumors that German Chancellor Merkel would resign, perhaps driven by a Time piece suggesting she was losing support of coalition partners. However, the rumors…

Cable continued to be ranged through the day. It has not been able to rise above the Resistance region of 1.6308-55 we have been mentioning over the last couple of days. We reiterate the importance of this Resistance region which houses the 13-week MA (1.6337), 55-DMA (1.6355), 100-DMA (1.6308) and…

The fact that the EUR could be hit so hard in Asian hours by a rumour that recently re-elected German Chancellor Merkel could be about to resign is a reflection of the EUR?s vulnerability at present. The German rumours were of course denied (eventually) but the EUR has failed to…

Dollar/Yen ascended on Thursday up to the 92.03 top, from where it started dropping down to 90.85, closing the day at 91.21. Today’s bottom at 90.64 appears to be a good support at this stage, and we will be looking for a convincing brake down to confirm continuation of the…

The British pound rose against the greenback on Thursday, supported after seemingly hawkish Bank of England comments and a run of firm data fuelled speculation the central bank may soon end quantitative easing. Analysts said sterling was bolstered by comments from policymaker Andrew Sentance on Wednesday that the BoE may…

EUR/USD is in a downtrend, after peaking at1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.