Market Direction for 20 - 23 of Dec. 2011

USDollar Index Chart 5hours

Although the USDollar index is swayed downwards based on the technical presentation, it's very obvious it maintained an upward momentum but limited at 80.96.
On the summary, we still remain slightly bearish for USDollar index chart for the next couple of days: we should be seeing the first lower low from this point at 80.50 and gradually deep into 80.40.

Market Direction for 19 - 22nd of Dec 2011

We should be expecting a new low for the USDollar index for 80.40 - 80.20 or lesser within the trading period of 19 - 22. It is also imperative we trade with caution due to emerging economic down turn from the Euro region - untill this is solved by policy makers, market will remain southwards for EURO.

Risk is Growing That a Country Will Quit Euro: Miles

By Fergal O’Brien - Nov 24, 2011 9:52 AM GMT

Bank of England policy maker David Miles said there’s a risk a country may leave the 17-nation euro area and that the threat from the region’s crisis has increased uncertainty about the outlook for the U.K. economy.

Market direction for 24/11/2011

Hello fellow traders;
This info is to guide you for tomorrow's trade, wandering how I got this info? That shouldn't be your problem. Between monday and tuesday, something like this happened and I thought it wise to get you informed on time.

Dollar and Risk Trends Tied to Holiday Liquidity Conditions

By John Kicklighter, Currency Strategist

• Dollar and Risk Trends Tied to Holiday Liquidity Conditions
• Euro Crisis Boost Risk of Coordinated Rescue or Structural Change
• British Pound Traders Weigh EU Crisis Spread, BoE Stimulus and Austerity
• Canadian Dollar Ignores Ease in Inflation, Oil and Equities Correlations Glare
• Japanese Yen Tests Policy Makers’ Resolve, Markets Clearly Aiming for Gains
• New Zealand Dollar on the Verge of a Multi-Year Trend Change as Rates Questioned
• Gold Closes out its Biggest Weekly Decline Since September’s Collapse

German Govt Prepares For Greece To Exit Euro Zone

Michael CEO, Favoured Capital Investment Group Ltd, London

Germany's government is preparing for a Greek exit from the euro zone in case the new Greek government doesn't want to implement the latest austerity program, according to a report for the latest edition of Spiegel magazine pre-released Saturday, citing sources close to the finance ministry.

EU warns of 'deep, prolonged recession'

By Matthew Dalton

BRUSSELS -- The European Union Thursday slashed its growth forecast for the 27-nation bloc in the coming year and said it can't exclude the possibility of a deep, prolonged recession.

Jobless Claims Fall to Lowest in Seven Months

The number of Americans filing applications for unemployment benefits fell to the lowest level in seven months, a sign the recovery may be encouraging companies to limit cuts in headcount.

Jobless claims fell by 10,000 to 390,000 in the week ended Nov. 5, Labor Department figures showed today in Washington. The median forecast of economists in a Bloomberg News survey called for 400,000 new claims. The number of people on unemployment benefit rolls decreased, while those getting extended payments rose.

Greece names former banker Lucas Papademos as new prime minister

ATHENS — Senior banker Lucas Papademos was named Thursday as the prime minister of the new Greek interim government, charged with keeping the debt-strapped country out of bankruptcy and firmly in the 17-nation eurozone.