Chris Advincula, Market Analyst at FX Solutions (http://www.fxsolutions.com/), provides forex traders including an overview of currency market taste and hearsay on 25th October 2011, including news of the Euro's consolidation.
"The euro is slightly decrease easing not working early the NY distinguished of 1.3950 in a lackluster 60-pip trading range. High 1.3935 Low 1.3875. The market participants are on the sidelines, but soothe with some optimism intact on the superficial optimism on the EU summit outcome by Wednesday. The summit diplomacy are still in the negotiation administer with speculation that the assembly consequences will wait withheld until the G20 meeting on Nov 3-4.
The Financial Times writes the Greek debt holders have been asked to take a write off of 60%. (which sounds more like speculation). The Guardian news wrote that after the weak German PMI yesterday, the ECB is nearly particular to graze interest tariff then week on their monetary policy meeting on Nov. 3. The contemporary rate stands at 1.5%.
At 1300 GMT today, the ECB board member Ewald Nowotny will deliver a speech on the theme of independent debt crisis and inhabitant liquidation in Vienna.
The have a give of market is mixed biased to lower, while the commodities market gains. Oil is higher. Gold is steady at 1658.00.
Nikkei is -39.71 points to 8,804.27 (-0.45%)
Hang Seng is +101 points to 18,873 (+0.54%)
S&P ASX is -27 points to 4,227 (-0.64%)
The 30-day simple moving median eased down from 1.3940 to 1.3905."
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