Tuesday, 1 May 2012

FX BUY/SELL SIGNAL





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Euro Falls 3rd Day Versus Yen as Spain Back in Recession
April 30, 2012 (Bloomberg) -- The euro weakened for a third day against the yen after a report showed Spain's economy entered its second recession since 2009, adding to concern Europe's debt crisis is worsening.

The 17-nation currency extended its first monthly decline this year versus the dollar as Spain's government struggled to convince investors it can narrow its budget deficit in an economy that's grappling with almost 25 percent unemployment. The pound touched an eight-month high versus the dollar after house values increased. Canada's dollar fell by the most in more than five weeks after the nation's economy unexpectedly shrank.

"Spanish GDP figures seem to be catching a little bit of attention," said Nick Bennenbroek, head of currency strategy at Wells Fargo & Co. in New York. "It's definitely weighing on sentiment and overall concern about the region, .
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