The weekly report on Jobless Claims was close to expectations at 441k for the week ended November 13. Once again the previous week was revised higher, as it has been for just about every week in the last half year, it is now said to be 2k higher at 437k.

The Continuing Claims fell 48k to 4.295 million for the week ended November 6.

The Federal extended and emergency benefit programs were up 121k to 4.933 million for the week ended October 30.

EUR: Ireland, facing widespread public anger over its handling of the crisis, formally requested aid on Sunday evening. The EU and the IMF agreed to help bailout the country to protect Europe’s financial stability.

According to the statement by the Euro group and Ecofin finance ministers, the package should be mainly financed by EFSF, possibly supplemented by bilateral loans to be negotiated by the EU members. It will also include a fund for potential future capital needs of the banking sector. The size of the package has yet to be negotiated but is likely to be smaller than Greece’s EUR110 bn (a senior EU source said that it would be EUR80-90 bn reportedly).

EUR/USD just put in 1 far more short at 1.3298

So total amount of shorts are 4 Lots.

Patience - its a very hard habit to learn with respect to the forex.

4 lots short - 11am and beyond look for the fall to be totally pronounced.

Heading to the beach, hang in there traders.

your opinions are never discounted and well respected.

The dollar weakened broadly on Thursday hitting a 7-week low against the Yen, a 28-year low against the Australian dollar and an all time low against the Swiss Franc. While the dollar may not be the most attractive currency because of the persisting QE by the Fed other currencies where seen gaining against the greenback. The Euro is still not the most favourable currency though either as euro zone debt issues are mitigating the currencies gains and diverting investors focus to more stable economies as the Yen, the Franc and also the Aussie. The dollar slipped as low as 81.28 Yen, and is seen getting closer to its 15-year low of 80.21 hit in November. As thin trading volumes because of New Year’s holiday tend to exaggerate currency moves it is possible for the pair to reach its post-war low of 79.75 hit back in 1995 and even breach it. Data on US initial jobless claims expected in later today can give another hit of the country’s recovery.

Fxpro,

I think is good idea to add some updates here. i will try to help as well.

In the broadcast these days: How will Global Growth & Risk Impact the USD in 2011?

With global economic growth and risk appetite picking up, we explore how these two important factors could continue to impact the USD, EUR and other currency majors throughout the new year, we analyze the latest trend developments within the EUR/USD currency pair, we take a close look at higher-yielding commodity currencies- AUD, CAD and NZD, we note the new all-time lows for the EUR and USD against the CHF, we keep an eye on the renewed weakness of the USD vs. JPY, we highlight the market's reaction to the Japanese and the Chinese Manufacturing PMI, the U.S.

Jobless Claims, Chicago PMI and Pending Home Sales Index, we discuss new forecasts from JPMorgan, PIMCO and Bank of America, and prepare for the trading session ahead.

The Swiss Franc is still hitting new all time highs against the US dollar which lost against the Euro as well during early Asian Trade on Friday. The Swiss Franc almost hit a record high against the Euro as well which managed to gain some of its losses and traded above 1.3300 against the Dollar during the night. The market is thinning even more today as both Japan and the UK will remain closed for the year-end.[:o]

European Central Bank President Jean-Claude Trichet signaled he’s prepared to raise interest rates if needed to fight inflation even as leaders struggle to contain the region’s sovereign-debt crisis. “We are permanently alert, we are never pre-committed not to move interest rates and our level of interest rates is designed to deliver price stability,” Trichet said at a press conference in Frankfurt today. At the same time, the benchmark rate, which the ECB left at 1 percent, is still “appropriate.”

Does anybody think this euro will get back down after the big upward move it made yesterday?

It seems that yesterday's events have changed the euro trend. Am I expecting a retrace? Yes, some retrace will show up next week. But I would be very cautious selling the euro. today, the euro continues to show impressive optimism about the Euro zone economy. Fear of financial crisis is fading day after day. The euro continues to show an impressive performance as optimism about the ability of the European Union’s leaders to deal with the region’s financial crisis grows every day. Two events made the euro : -Angela Merkel, the chancellor of Germany, admitted that she will do anything to deal with any European financial problem. -Jean-Claude Trichet, ECB president, said that he may consider increasing the interest rates of Euro as he is expecting inflation to accelerate. This is the first time we hear a statement like this one from the ECB after having kept the interest rate at1% for a long time.

Euro bounced on its 50% fibo of the long move it made on Thursday. It's around 1.3400 right now and looking to make a new high- above 1.3457 (Friday's high)