Technical & Fundamental Analysis 06.06.2011

Dear Trader,

Last week, most of the data was negative for the dollar as a single currency against a basket of major currencies. Accordingly, gold and oil prices rose, and global stocks slipped on Friday ahead of U.S. payroll data. Previously, Ratings agency Moody's warned on Thursday it would consider cutting the United States'credit rating if the government do not proceed by mid-July in talks to raise the debt limit.

Elsewhere, the recently reported data about a new Greek rescue package that had been agreed by euro-zone officials in return for the country imposing deeper austerity measures, is expected to help strengthen the EUR/USD.

MBCFX Forex & CFDs Brokerage Firm