{"id":10434,"date":"2010-06-22T07:49:34","date_gmt":"2010-06-22T11:49:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10434"},"modified":"2010-06-22T07:49:34","modified_gmt":"2010-06-22T11:49:34","slug":"forex-market-review-06222010","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/22\/forex-market-review-06222010\/","title":{"rendered":"Forex Market Review 06\/22\/2010"},"content":{"rendered":"<p><strong>Market Analysis <a href=\"http:\/\/system.referforex.com\/processing\/clickthrgh.asp?btag=a_1391b_3739\" target=\"_blank\">by Finexo.com<\/a><\/strong><\/p>\n<p><strong>EUR\/USD<\/strong><br \/>\nThe Euro rose briefly against the Dollar on Tuesday, after China lowered the Dollar\/Yuan reference rate.\u00a0 However the Euro\u2019s rally was short lived as the Yuan fell on apparent Dollar-buying from Chinese banks.The euro dipped 0.1 percent to $1.2298, down from the day&#8217;s high of $1.2355. Investors now see the Chinese Central Bank\u2019s recent shift in monetary policy as a short term trading factor that could affect the EUR\/USD performance.<\/p>\n<p>Fueling Euro selling was Fitch decision to cut PNB Paribas rating from AA to AA-.\u00a0 The leading French bank\u2019s rating downgrade has re-ignited concerns about the overall state of the European economy.<br \/>\nUp ahead, Forex Investors are advised to keep an eye on this morning\u2019s German Ifo Business Confidence.<\/p>\n<p>Support\/Resistance 1.2281\/1.2385<\/p>\n<p><strong>GBP\/USD<\/strong><br \/>\nToday, Britain\u2019s Treasury chief George Osborne is set to deliver one of the most important as well as most severe budget releases in the last 30 years.\u00a0 Faced with one of the highest budget deficits in the world in terms of percentage of GDP, Britain\u2019s newly elected government has warned of drastic spending cuts and tax increases that analysts predict to be the equivalent to 8% of GDP over the next five years.\u00a0 Threatened with losing its AAA credit rating, Britain needs to effectively tackle its mounting deficit in order to maintain market confidence in its public finances.<\/p>\n<p>Support\/Resistance 1.4736\/1.4825<\/p>\n<p><span style=\"text-decoration: underline;\"><strong><a href=\"http:\/\/system.referforex.com\/processing\/clickthrgh.asp?btag=a_1391b_3739\" target=\"_blank\">Forex Market Review &amp; Analysis by Finexo.com<\/a><\/strong><\/span><\/p>\n<p>Disclaimer: Trading the foreign exchange (Forex) carries a high level         of risk, and may not be suitable for all investors. All    information     and  opinions contained on this website are to be used    for general      informational purposes only and do not consitute    investment advice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Finexo &#8211; The Euro rose briefly against the Dollar on Tuesday, after China lowered the Dollar\/Yuan reference rate.  However the Euro\u2019s rally was short lived as the Yuan fell&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10434","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10434"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10434\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}