Forex News – 10th November 2011

If you’re thinking chaos is bad you may havde been wathcing too many movies.

Italian bond yields surged to over 7% as LCH raised the margin requirementss on the bonds
effective as of today.

EUR/USD took a deep dive to make a low of $1.3482 while AUDUSD has declined by over +300
pips since yesterday. sent to is clients a recommendation to sell EURUSD yesterday, the position is
currently profiting over +100 pips.

Focus today is on The US Trade balance at 13:30 GMT.

GBP/USD continued to delcine, unable to recover from -9.8Bln figure released yesterday morning.
Ther pair dropped by +200 pips (approx) nad many traders are looking towards the interest rate
announcement at 12:00 GMT.

Will they follow THe ECB rate cut their interest rate as well?

Analysts are not foreseeing such a move but it cannot be ruled out.

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