Euro And Sterling Sell Off Into European Close: Is There A Rhyme Or Reason?

New York London GMT Tokyo Singapore

Euro And Sterling Sell Off Into European Close: Is There A Rhyme Or Reason?

By Greg Michalowski on March 6, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The moves this (Friday) morning were somewhat as expected. Initially, the dollar sold off, then it began to rally. Around the London/Europe close at 11:00-12:00 activity picked up. Perhaps it was squaring up of positions for the day. It might be as simple as the market for EUR/USD and GBP/USD rallied in the London morning session and sold off into the Europe close to square positions.

gregmike-02380

Technicals are of little help as well. The only material development today is the USD/CHF which has moved below the 100 day MA at the 1.1551 level and trendline support. However, it is not like the market is jumping all over the development via a concerted sales effort. As a result, it is hard to get excited one way or the other.

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

Kenyan Central Bank Lowers Key Interest Rate To 7% - 25 mins ago
Indian Market Takes Off After Flat Start - 48 mins ago
Vietnam Hikes Key Interest Rate - 1 hr ago
*Vietnam Central Bank Raises Key Interest Rate To 8% From 7% - 1 hr ago
Indian Market To Open Flat - 1 hr ago

Opinions From Our Contributors

Commodities The New Crude Oil Benchmark That Could Change The Oil Market’s Price Dynamics Why Gold Prices Could Fall From Here… And Two Ways To Play The Move Gold Rush Creating Issues For Gold Buyers Will Copper Continue To Shine In ‘09? When Do We Sell Gold? Silver ETFs: More Gains To Come? Oil Seems Like It’s Going Nowhere… But The Story Is Very Different Below The Surface Distorted IEA Oil Reserve Figures Create Biofuel Opportunities In “White Gold” Region Of Central Asia The Simplest Reason Gold Will Soar Physical Gold, Silver And Oil Out-Performing Their Stocks? Read More »	Financials Washington Examiner: “A Fox Is Guarding The Henhouse At The SEC” US Home Prices Continue To Rise Bank Of America Call Options In Hot Demand Stock Market News: HP, Analog Devices, Heinz, Medtronic Report Strong Results, Citigroup Selling Diners Club To Bank Of Montreal Stock Market Briefs: Twitter May Consider IPO, Tyson Foods Beats Estimates Don’t Count Out Actively Managed ETFs U.S. Bank Failures Reach 124 Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Read More »	Exchange Traded Funds Murdoch’s Gamble: Will It Benefit Media ETFs? Why Agriculture ETF Outlook Appears Promising Is Low Interest Creating A Sovereign Debt Bubble? Protect Yourself Against An Imminent Stock Market Correction Japan ETFs: The New War They’re Waging India ETFs: Too Much, Too Soon? ETF Update: Health Stocks And Health Care Legislation Biggest Gainer ETFs For The Week Ended 22 Nov Has Gold Just Broken Out Of Its Trend Channel? What You Should Know About Precious Metals ETFs And Taxes Read More »
Stocks US Bonds Are Blasting A Warning Another Options Strategy For Income Investors Option Traders Barter For Calls On EBAY Will Emerging-Market Outperformance Last? Stock Market Movers: Dollar Tree, Origin Agritech, US Airways Group How To Value Stocks Using Discounted Cash Flow Stocks To Watch Tuesday: Curis, Cell Therapeutics, Qwest Indian Stock Markets: Sensex Down 49.10 On Tuesday Can The Retail Sector Rouse The Recovery? Stock Charts For Tuesday: S&P 500, Nano, Hertz Read More »	Forex Risk Aversion Takes A Back Seat In Forex Markets Australian Dollar: Caution Swiss Franc: The Downside Prevails Canadian Dollar: Caution Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Watching EUR/USD At The 1.4945 Level Where 100 & 200 Bar Moving Averages Converge Forex Markets Drift Due To Lack Of Drivers Tuesday’s Forex Outlook Read More »	Economy Why Pimco’s Fleeing From Mortgage Debt Into Government Debt US Housing Has Never Been More Affordable Federal Reserve Statement: No News Is Good News? Summary Of Holiday Spending Surveys & Reports Consumer Confidence Increasing The Great Louisiana Healthcare Rip-Off Consumer Attitudes: The Future Of Saving And Spending Economic Highlights: GDP Up 2.8%, Corporate Profits Increase By $130 Billion With T-Bill Yields At Zero, It’s Time To Beware Of The “Bond Bears” U.S. Economy Will Grow Faster Than Expected, Jobs To Return To Growth Next Year, Economists Say Read More »