The Central Bank of Nigeria (CBN) has disclosed that the aggregate demand for foreign exchange by authorised dealers was $414 million for week ended May 16, 2008, compared with $132.75 million recorded in the preceding week.
THE rand slid sharply against major currencies yesterday as photographs of xenophobic violence hit the front pages of leading international news- papers, tarnishing SA's image in the eyes of foreign investors.
Greenfuel Technologies Corporation , engages in the development of a technology that could allow companies to recycle emitted CO2 from flue gases and even earn a profit from being "green". The company utilizes fast growing algae, which during the process
Last time I looked at the stock price of Bio-Clean, there wasn't any pleasant news for spammers, as the stock plunged by 28% to $0.01. It seems that their mission is failing.
The Greenback slumped against Sterling yesterday. The GBPUSD broke the key level 1.9625, topped at 1.9719 and closed at 1.9673. My model is long, targeting 1.9780 area. CCI in overbought area on 4h chart so watch out for correctional downside
Euro 1.5650 Initial support at 1.5504 (May 20 low) followed by 1.5438 (May 16 low). Initial resistance is now located at 1.5681 (May 20 high) followed by 1.5712 (Former Support Apr 18).
The dollar was trashed on Tuesday amid a soaring oil price and tanking stocks. There are some intermediary inversed head-and-shoulders patterns in euro and cable and my model now went short dollars against some of the European currencies, and this
EURUSD Today's support: - 1.5637 and 1.5613(main), where correction is possible. Break would give 1.5590, where correction also may be. Then follows 1.5563. Break of the latter would result in 1.5536. If a strong impulse, we would see 1.5514. Continuation
EURUSD Comment: Squeezing up to the top of the Ichimoku 'cloud' and likely to hover around here for much of today. Late this afternoon there is a chance of another bout of short-covering to 1.5740.
A strong bullish trend beginning in January was broken in March and rebounded at the beginning of April. In May there was a short side movement period that finally broke the strong resistance at 0,9501 upwards. This break raises hopes
The pre-planned breakout variant for sales has been realized with attainment of assumed targets. OsMA trend indicator having marked the relative rise of bearish activity gives grounds to choose bearish planning priorities for today. Hence and because of ascending direction
The Pound continued its downside wave against the Yen but the pair was still able to remain above the 202.77 critical level which represents the 38.2% correctional level for the upside wave that started back in 17th of March, the
Euro almost reached to the edge of 1.5700, still aiming higher but with a possibility for some slight declines today before the movement gets extended above that. The 1.5710 could be the point from which the currency will start declining
The Euro rose rose yesterday against the US Dollar up to 1.5685, which is the first resistance for the currency couple today. If the positive trend continues, next resistance is expected at 1.5740, followed by 1.5800. In downward direction first
Pound surged by 239 pips from the intraday low of 1.9478 due to less than expected U.S. PPI data. The 4-Hourly stochastic is in the overbought region while the daily and Hourly indicate further buying pressure. GBP/USD is currently taking
Short-term bullish structure is now confirmed by yesterday's break of the fib resistance level at 1.5650. Another set of resistance levels are emerging into the 1.57 area at 1.5720 then 1.5740 which is the 61.8% retracement of the 1.6019-1.5285 move.
Markets are generally steady today so far, with expectation of mild strength in yen due to weakness stock markets. Traders are holding their bets ahead of some key even risks today. The focus in Eurozone is on Germany Ifo. The
