{"id":16090,"date":"2010-11-30T10:49:38","date_gmt":"2010-11-30T15:49:38","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=16090"},"modified":"2010-11-30T10:49:38","modified_gmt":"2010-11-30T15:49:38","slug":"european-wrap-market-continues-to-savage-the-euro-by-fastbrokers","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/30\/european-wrap-market-continues-to-savage-the-euro-by-fastbrokers\/","title":{"rendered":"European Wrap: Market continues to savage the euro; By FastBrokers"},"content":{"rendered":"

Written by FastBrokers House
\n2010-11-30 00:00<\/em><\/p>\n

Another morning of pain for the single currency, suffering across the board losses. EUR\/USD down at 1.3015 from early 1.3100 havng been as low as 1.2982.<\/p>\n

Russia and BIS both seen buying early and we traded in a narrow range either side of 1.3100 for some time.\u00a0 Then all of a sudden\u00a0the\u00a0US investment house who does God\u2019s work came in and hammered EUR\/USD.\u00a0 A series of rumours (see above) then circulated and we were heading lower and quickly.<\/p>\n

Barrier interest\u00a0 at 1.3050 gave out easily, not even a pause.\u00a0 Reports kept coming that the US investment house was still selling and we\u00a0soon had 1.3000 looming before us. Slight pause ahead of there before we pierced the level (1.2998 low) followed by bout of profit taking back up to around 1.3025\/30.<\/p>\n

But this was a brief reprieve before another wave of selling which then took us all the way to session low 1.2982. Model funds were notable buyers around the lows and we\u2019ve recovered back above 1.3000.<\/p>\n

Real money has\u00a0reportedly been selling in recent trade.<\/p>\n

USD\/JPY down at 83.85 from early 84.05, having been as low as 83.73. The pairing has been\u00a0pressured by lower US treasury yields, but Japanese importer buy orders lined up from 83.80 to 83.50 are\u00a0providing a cushion.<\/p>\n

Cable slightly lower at 1.5525 from early 1.5545, having been as low as 1.5509 so far.\u00a0 Selling of the EUR\/GBP cross, down at .8385 from early .8425, has provided\u00a0cable with some support.\u00a0 The\u00a0cross has been as low as .8366, but buying by BUBA for\u00a0month-end purposes lent some support in late morning trade.<\/p>\n

Market Commentary<\/strong><\/em> provided by FastBrokers<\/strong>.<\/span><\/a><\/p>\n

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regarded neither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Russia and BIS both seen buying early and we traded in a narrow range either side of 1.3100 for some time. Then all of a sudden the US investment house who does God\u2019s work came in and hammered EUR\/USD. A series of rumours (see above) then…<\/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-16090","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16090","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=16090"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16090\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=16090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=16090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=16090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}