With fresh promises from Greece to redouble its reform efforts to keep international financial aid flowing, euro zone finance ministers are meeting to decide if Athens gets the cash it needs all at once or by drip feed. Sonia Legg reports
VIDEO: Finance Latest News: Lloyds Shares Hit Two-year High on Overseas Buyers’ Interest
Lloyds Banking Group shares jumped to a 2-1/2 year high as overseas investors stepped up their interest in buying part of the bank and media reports suggested some may want half the government’s stake. Former Standard Chartered chief executive Mervyn Davies is talking to others about forming a consortium to be an “anchor” or cornerstone investor in part-nationalized Lloyds- which the government is planning to sell.
VIDEO: Money In Your Pocket Minute: 7-8-13
Rick Reagan has advice on how to spend and save wisely.
VIDEO: Rupee breaks 61 against dollar, people to bear brunt
Even as the Indian rupee breached the 61 mark against the U.S. dollar for the first time ever on Monday, finance expert Akash Jindal has highlighted the dire consequences of the event on the lives of people.
VIDEO: Finance Latest News: Red Tape, Graft Mean India not Such a Super Market for Wal-Mart
Wal-Mart’s India expansion is stalled. When India announced last September that it would allow foreign supermarket chains to take majority ownership of their Indian operations, it marked a victory for Wal-Mart Stores Inc (WMT), which had spearheaded efforts to open the market and said its first retail store would open within two years.
FOREX: Euro fell vs US Dollar for 3d week. 1.2750 level to key level this week.
EURUSD: The euro fell for a third consecutive week last week against the US dollar and dropped through the major 1.3000 support and resistance level, also breaking below a supportive trendline. Looking out for this week, the 1.2750 level shapes up to be a very important level for this currency pair. A drop below this level will likely accelerate the downward price action and bringing up a possible test of 1.2500 in the near future.
Meanwhile, if prices can consolidate and stay above the 1.2750 level, we could see the bulls pushing the pair up for a new test at the 1.3000 level again. Near term resistance this week looks to be at the 1.2850 level while the downtrend must overcome the 1.2800 threshold before the 1.2750 test becomes a reality.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
Canadian Dollar falls vs US Dollar for 3rd Week. USDCAD looks to extend above 1.0500
By CountingPips.com
USDCAD: The US dollar rose against the Canadian dollar for the third straight week and trades at its highest level since 2011. The USD/CAD currently trades above the 1.0500 level which will likely provide key buying support for this currency pair this week. Overhead resistance looks to come in around the 1.0650 area as this level has provided resistance numerous times over the past few years. If prices can advance past the 1.0656 level it will mark the highest level since 2010.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
USD/CHF Currency Pair on the Uptrend trading above 0.9550
By CountingPips.com
USDCHF: The US dollar gained against the Swiss franc for third consecutive week and looks poised to retest the highs of the year. The USD/CHF currency pair trades over the 0.9600 level currently. Watch for near-term resistance around the 0.9650 exchange area while potential support looks to be found into the 0.9585 — 0.9600 area before the key support level of 0.9550 comes into play.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
US Dollar trending higher vs Japanese Yen, USDJPY above major 100 level
By CountingPips.com
USDJPY: The US dollar gained against the Japanese yen for a third straight week last week and trades back above the major 100 yen level. The question for this week will be whether the 100.00 level holds as support for the US dollar and whether the USDJPY can continue to climb and test the highs of the year established in May. Looking out over this week the 100.00 level is the most obvious and important support level while potential resistance will be seen into 101.25 — 101.50 area and then at the 102.00 level.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
British Pound falls for 3rd week vs US Dollar to below 1.5000
By CountingPips.com
GBPUSD: The British pound sterling declined for a third straight week last week and fell sharply against the dollar through the 1.5000 major level. The GBP/USD will drop to its lowest level since 2010 if it touches below 1.4820 this week in the foreign exchange markets. This currency pair looks likely to test the 1.4750 major support area in the near-term if the trend continues with GBP weakness. Overhead resistance this week will likely come into the 1.5000 level while near-term support looks likely to be at the 1.4850 level and then the 1.4800 major threshold.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
