Trade Idea Wrap-up: EUR/USD – Hold long entered at 1.4785

Despite intra-day retreat to 1.4776, as the single currency has rebounded after finding renewed buying interest there as suggested, retaining our bullishness for recent upmove to resume after consolidation, a break of intra-day resistance at 1.4882 would confirm this view and extend gain towards 1.4900/05 (1.236 times projection of 1.4494-1.4715 measuring from 1.4630)

MPC and ECB Expected on Hold in May

Two months ago markets priced a rise in Bank Rate in May with near certainty. Now little more than a residual chance of such a tightening is seen, with the first hike not fully priced until Q4 2011. We have argued since Q4 last year that economic weakness was likely

Eurozone Debt Worries Resurface to Hold Euro Lower vs Dollar/Yen

In Asian trading today, as investor focus returns to Eurozone fiscal problems the common currency Euro extended earlier losses against the greenback after failing to break above key resistance.