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G7 could discuss Chinese Yuan
Tuesday, February 2, 2010 - 8:49pm | 122Read More...The EURUSD has managed to strengthen during the day by rising to its present value of 1.3970. The dollar continues to trade sideways with the USDYEN now sitting at 90.50. Currencies issues are expected to be discussed at this week’s G7 meeting being held within the Canadian Arctic Circle. Some...
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Yen Gains Strength from Weak US Data
Tuesday, January 5, 2010 - 7:13pm | 120Read More...The Yen was able to exert serious pressure on the dollar throughout today triggered by rumors of a large-scale repatriation by Japanese exporters. In addition, the posting of a steep drop in US pending home sales earlier this morning weighed heavily on the greenback. As a result, the USDYEN plunged...
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Drop in US optimism Weakens Dollar
Thursday, December 24, 2009 - 9:21am | 205Read More...The Euro continued its recovery during the night with the EURUSD hitting highs of 1.4415 (see hourly chart). In thin pre-holiday trading, yesterday’s US New House sales, which plummeted by 11.3% in November to a seven month low, has knocked the gloss of US economic optimism placing pressure on the...
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Unacceptable Greek Bonds Could Be Euro’s Next Demon
Monday, December 21, 2009 - 7:03pm | 169Read More...The US Dollar has had another good day by forcing the EURUSD down to its present value of 1.4270 and the USDYEN to highs of 91.20. The greenback gained support from traders taking profits before the year end as well as the market perceiving that a stronger US recovery could warrant higher US...
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Some Basic Features of Forex
Monday, December 21, 2009 - 5:26pm | 519Read More...Forex, unlike the Stock Market, has no centralized exchange and all its transactions are conducted on the Interbank Market or OTC (over the counter) via phone or electronic networks. Fundamentally, there are two main trading sources that comprise the daily Forex turnover. The Foreign trade...
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187 Billion Hiccup Upsets Euro Cheer
Sunday, December 20, 2009 - 3:20pm | 236Read More...After dropping to lows of 1.4265, the EURUSD finished the week by climbing back to 1.4330(see chart) after Germany posted an improved IFO Business Confidence index at 94.7, the highest reading since July 2008. More worrying though, was a statement released by the European Central Bank advising that...
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Recovery Dances with Fragile US Improvement
Wednesday, December 16, 2009 - 10:12am | 270Read More...Whilst awaiting the FOMC decision at 2.15pm EST and subsequent policy statement, the EURUSD has rallied to its present value of 1.4550(see chart). The consensus opinion is that the Fed will hold its interest rates at zero for an extended period. However, some experts believe that the fiscal...
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Austrian Acts to Prevent Euro-zone Banking Collapse
Tuesday, December 15, 2009 - 8:49am | 196Read More...The Euro experienced a torrid time overnight with the EURUSD slumping to lows of 1.4525 before rallying to its present value of 1.4540(see Charts). This further Euro deterioration has been mainly caused by two major events. Early this morning, the German ZEW survey posted a drop to 50.4 from 51.1...
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Temporal Euro Boost Fades After Dubai Bail-out
Monday, December 14, 2009 - 9:11am | 210Read More...Overnight, the EURUSD had fallen to lows of 1.4610 before Abu Dhabi announced that it would aid credit stricken Dubai with an $10 bail-out package. The EURUSD surged on the news to 1.4680 before retracting to its present value of 1.4650(see chart). The response was still deemed muted as many...
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Retail Figures Confirm Freefall is Halted
Friday, December 11, 2009 - 10:03am | 199Read More...The US Retail Spending has just been posted recording a rise of 1.3% in November beating forecasts of 0.6%. In addition, US Import Prices also increased by 1.7% in November versus an expected 1.2% rise. Consequently, the EURUSD, that had rallied overnight to highs of 1.4775, has now fallen to its...
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Disappointing Job Report Weighs on Forex
Wednesday, December 2, 2009 - 10:27am | 183Read More...A disappointing US ADP Data figure has just been released showing an increase in job losses of 169K against an expected 150k. This adverse result has drawn criticism against the Obama administration for their policy of focusing on National Health Care as opposed to job creation. Difficult choice as...
