EUR/USD was essentially unchanged in morning European trade after an early bout of risk appetite in Asia quickly faded on announcement that Secretary Treasury Geithner’s plan to rescue the financial system would not be revealed until Tuesday. The pair managed to climb within a few points on the 1.3000 level in Sydney and very early Tokyo on some follow through from Friday’s rally in the DJIA, but the Japanese stocks could not hold their gains in the wake of the announcement by Nissan that it will cut 20,000 jobs as the result of weakening global demand.
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The Euro against the US dollar climbed early in the day on Tueday, despite the concerns of a new plan.
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About the authorIn 2002, Luca joined Global Forex Trading, Division of Global Futures & Forex, Ltd., as one of its analysts who provides daily, weekly and monthly commentary on the major markets of foreign exchange. Luca is a world-renown author, teacher and authority in foreign exchange who has traded and analyzed currencies since 1983. His daily and weekly commentary on the major currencies can be read at http://www.gftforex.com/resources/commentary.asp?aid=576 As a qualified professor of finance, Luca has taught courses at the New York University, Pace University's Lubin School of Business Graduate Division in New York City and at the New York Institute of Finance's FT Knowledge. His published works include Trading in the Global Currencies Markets, which was published by Prentice Hall and is a comprehensive analysis of the foreign exchange markets, instruments, players and methods of forecasting. Additional Luca works published by Prentice Hall include Technical Analysis Applications in the Global Currencies Markets, which is an in-depth and unique coverage of currency charting analysis. His most recent book, titled Technical Analysis Applications, will be published by McGraw-Hill in August 2004 Luca earned a master's degree in business in international business and finance from the New York University's Leonard Stern Graduate School of Business and a bachelor's degree in international marketing from the Bernard Baruch College, The City University of New York. |
