The Greek economy collapses further and threatens the debt plan

ATHENS (Reuters) - The Greek economy shrank more than expected last quarter and the government on Friday revised down its data from the three previous quarters, raising doubts about his ability to resolve its debt crisis.

A government source said the EU is unlikely that the meetings of finance ministers from the region next week will result in an aid package for Greece, which suggests that governments were still unable to decide how to prevent the crisis from harming the confidence of financial markets in the eurozone.

Forecast Curencies, Friday, 12 February 2010

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EUR-USD

It should fall to 1.3644-1.3592, if rise, should face 1.3747-1.3798. We should place the stop loss above 1.3902.

USD-CHF

This pair has a triangle pattern. There would be an acceleration in prices, if they go up above 1.0783 or fall below 1.0627.

GBP-USD

It should fall to 1.5604 or 1.5503. If rise, should meet resistance located at 1.5838.

USD-JPY

It should hold in 89.6660-89.5077 after which should go up to 90.0817.

USD-CAD

U.S. unemployment insurance applications fell last week

WASHINGTON (Reuters) - The number of U.S. workers applying for unemployment insurance for the first time fell sharply last week, according to a government report released Thursday that reversed a recent surge that has generated concern about the labor market situation.

The Labor Department said initial claims for unemployment insurance fell by 43,000 to a seasonally adjusted rate of 440,000 in the week ended on 6 February from an upwardly revised to 483,000 in the previous week.

Forecast Currencies, Thursday, 11 February, 2010

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EUR-USD

If it is over 1.3707-1.3672 should rise to 1.3775 or 1.3807.

USD-CHF

If it is below 1.0699 should fall to 1.0623. If it rise above 1.0725 would be an acceleration in prices.

GBP-USD

If it is over 1.5585-1.5523 should rise to 1.5716 or 1.5680.

USD-JPY

Should complete its rise in 90.0030 - 90.2537. After which should fall under 89.4387.

USD-CAD

It should go to 1.0664 or 1.0686, if you fall below 1.0610-1.577, there would be an acceleration in prices.

NZD-USD

U.S. trade deficit grows in December

WASHINGTON (Reuters) - The U.S. trade deficit widened unexpectedly in December and marked 40,200 billion, but in all of 2009 was sharply reduced product of the fall in trade amid the global crisis, official data showed on Wednesday.

Wall Street analysts polled before the report expected the deficit narrowed to U.S. $ 36,000 million from 36,400 million reported for November.

The Commerce Department said the rising deficit in December was a month in which both imports and exports grew at healthy rates.

Euro cae vs dólar por incertidumbre rescate Grecia

NUEVA YORK (Reuters) - El euro caía el miércoles frente al dólar tras revertir sus ganancias iniciales, en medio de la incertidumbre que ronda la reunión de la Unión Europea del jueves sobre un posible rescate para la endeudada Grecia.

Algunos analistas dudan de que un rescate pueda resolver todos los problemas financieros de Grecia.

European governments agreed to help Greece

BERLIN (Reuters) - The euro zone governments have agreed in principle help to Greece, hurt by its massive debt, said Tuesday an important German source, in what would be the first rescue of a member of the euro area in the 11 year history currency bloc.

"The decision to help Greece has been taken in principle within the euro area," said the source familiar with the talks.

There are several options under consideration, but has not made a final decision, but the more likely possibility is offering 'bilateral aid, "said the source.

Forecast Currencies, Wednesday, 10 February 2010

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EUR-USD

This pair has a triangle pattern. It should go to 1.3873 if support located at 1.3760 holds. After that there should be a pullback of 1.3760-1.3720.

USD-CHF

It should not fall below 1.0623-1.0582. After which should climb 1.0692-1.0720.

GBP-USD

Should complete its rise in 1.5734 or 1.5791 after which should fall at 1.5677-1.5641.

USD-JPY

U.S. GDP growth will slow in 1st quarter

NEW YORK (Reuters) - U.S. economic growth would slow after the intense activity at the end of last year, while expectations of recovery in employment lead the Fed to leave interest rates steady until the second half of 2010 , a Reuters poll showed.

The GDP of the United States grew at an annualized rate of 5.7 percent between October and December 2009, as GDP advanced reading, but a survey of about 80 economists suggests that the pace of activity will drop to almost half, to 2.7 percent in the first quarter of 2010.

Trichet Early return triggers speculation Greece

ATHENS (Reuters) - The euro zone markets recovered some ground on Tuesday, while growing speculation about a possible rescue of the European Union to resolve the fiscal problems of Greece.

But at the same time, European authorities sought to keep the pressure on Greece to resolve by itself its own problems.

The news that the European Central Bank president, Jean-Claude Trichet, broke off a trip to Australia to attend a special summit of the European Union, led to market speculation on possible initiatives to help solve problems Greek debt.

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