Wednesday, May 28, 2008

European Market Update

Looking ahead, things are pretty quiet ahead of the extended weekend. On the data front April existing home sales data is due out at 10:00 ET. There is no new supply scheduled in the US today, nor are there any central bank speakers scheduled. Furthermore, no notable earnings reports are...

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Dollar Weakness to Continue

The EURUSD has advanced as expected this week and faced resistance just above 1.5800. The possibility remains that this rally will reach a new high within the next 3 to 4 weeks so longer term bulls should be patient. Even if a larger correction is underway from 1.6018, then a...

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