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Prior to launching ForexLive, Jamie Coleman spent nearly twelve years at Thomson Financial as managing analyst of the institutional forex product IFR Forex Watch. In 2007, he left the Forex Watch team to launch a retail forex-oriented site which became the popular Reuters FX Hub. FX Hub fell... More
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  • ForexLive North American Wrap: Spain Takes Over Troubled Bank 0 comments
    May 9, 2012 4:20 PM | about stocks: FXC, FXB, FXE, FXY

    The euro (NYSEARCA:FXE) hit the skids at the ECB fixing, falling to 1.2930 in the first down-leg and to 1.2910 afterwards. Barriers ahead of 1.2900 braced the fall and EUR/USD bounced 60 pips before drifting back to 1.2946 last. Offers are at 1.2960/65.

    Cable (NYSEARCA:FXB) ran through stops below 1.61 in early North American trading and hit more below 1.6075 but rebounded shortly afterwards to 1.6130 in late European trading and then above 1.6150 in the US. Offers remain in the 1.6160/70 area.

    USD/JPY (NYSEARCA:FXY) fell as US 10s came perilously close to breaking support at 1.79% but the level held, risk sentiment improved and the pair rebounded to 1.7973 from 1.7943.

    USD/CAD (NYSEARCA:FXC) hit a 3-month high above the 1.0052 range-top but it was unable to make further headway and drifted back to parity suggesting it's too soon to call it a breakout.

    Oil and gold also bounced after carving out recent lows; at $96.52 and $1590, respectively.

    Stocks: FXC, FXB, FXE, FXY
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