Tag: dollar
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The U.S. Dollar advanced on Wednesday, gaining 1% against the Japanese Yen and pushing the EUR back under $1.30, after a report showed U.S. consumer confidence fell more than expected, pressuring equities lower and reducing investors' appetite for risky assets. Summary USD - Dollar Rises on Demand for Greenback's Safety EUR - EUR Erases Gains; Slips Below $1.30 level JPY - Yen Rises on Safety Demand Crude Oil - Oil Falls a 2nd Day after Consumer Confidence Drops
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The U.S. dollar edged lower against the yen throughout morning trading today, following a drop in risk taking ahead of a key announcement from the Bank of Japan (BOJ). Investors are cautiously awaiting a decision on whether the BOJ will intervene to limit yen growth. Japan is an export driven economy, meaning a strong yen limits the volume the country is able to sell. USD/JPY, currently trading around the 86.85 level, is still fairly close to the 7-month low the pair hit last week. The greenback appears to be fairing slightly better against the euro. EUR/USD has dropped some 100 pips since this morning, and is currently trading around the 1.2900 level. In addition to the BOJ statement, traders will want to pay attention to the U.S. Building Permits report at 12:30 GMT as well as the Bank of Canada Rate Statement at 13:00 GMT. The U.S. economy has seen a string of negative news events over the last few weeks. Should the new building permits number come in above the forecasted 0.57M, the greenback could stage an afternoon rally against the yen. Analysts are predicting the Bank of Canada to raise overnight rates from 0.50% to 0.75%. If true, the loonie will likely see some gains against its main counterparts in afternoon and evening trading. Dollar and Euro Strengthen Despite Negative News In a light trading day, the dollar was higher against most of the majors, with the lone exception being the euro. Risk aversion was lower as traders shrugged off the downgrade of Ireland's credit rating as U.S. equities finished higher despite negative housing data from the U.S. economy. Summary USD - Greenback Rises with Equities EUR - Moody's Downgrades Ireland's Sovereign Debt JPY - Potential Intervention by the Bank of Japan? Crude Oil - Spot Crude Oil Flirts with 200-Day Moving Average
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Due to renewed concerns regarding the Euro-Zone's debt crisis and due to the beginning of earning season in the U.S, the Dollar slightly strengthened against the Euro yesterday. However, what will determine the direction of the Dollar today is likely to be the economic data which is expected from the U.S. and the Euro-Zone, especially the U.S. Trade Balance report. Will the Dollar see another day of rising trend? Summary USD - Dollar Strengthens As Second-Quarter Earnings Season Begins EUR - Euro Tumbles on Concerns Stress Tests Won't Ease Investors JPY - Yen Rises as Risk Aversion Increases OIL - Crude Oil Drops To $75.50 a Barrel
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After several weeks in which the Dollar appreciated repeatedly against the Euro, the Euro is showing its first signs of recovery. The rising risk appetite in the market is the main reason for the strengthening Euro, but will it continue? Summary USD - Dollar Weakens As Risk Appetite Soars EUR - Euro Rallies as Stocks Continue To Rise JPY - Yen Drops against the Majors; BOJ Leaves Rates At 0.10% OIL - Crude Oil Rises Above $77 a Barrel
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After a receiving a slight boost following comments from Fed chairman Bernanke yesterday, the Euro largely reversed its gains in overnight trading versus the U.S. Dollar and Yen. Investors appear to be waiting on news from a meeting today at the European Central Bank as to whether more help will be provided to debt ridden Euro-zone countries. Summary USD - Dollar Improves as Investors Return to Risk Aversion EUR - EUR Reverses Gains, Awaits News From ECB Meeting JPY - Safe Haven Yen Continues to Rally Against Its Rivals Crude Oil - Crude Corrects Itself After Major Gains Yesterday
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The U.S. Pending Home Sales is the primary publication today, and is set to determine the level of the USD when it is released at 14:00 GMT. The other main releases that are set to dominate forex trading today, especially for currencies such as the Dollar, EUR and GBP are the publications of German Retail Sales and the British Manufacturing PMI. Traders may find good opportunities to enter the market following these vital announcements. Summary USD - Dollar Strengthens on the Release of US Manufacturing Data EUR - EUR Falls on Greek Bailout Doubts JPY - Yen Falls against the Majors Crude Oil - Crude Oil Rises Above $86 a Barrel
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The U.S. dollar traded lower Wednesday as investors moved to higher-yielding currencies and riskier assets after U.S. data was better than expected. ISM service data showed the U.S. services sector grew in February at its fastest pace in more than 2 years, reducing the appeal of the greenback as a relatively safe investment. Summary USD - Dollar Pulls Back on Greek Cuts EUR - The EUR at 2 Week High as Greece Debt Concern Ease JPY - Yen Advances to 2 Month High vs. Dollar OIL - Oil Trades above $80 on Economic Hopes
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The U.S. Dollar and Yen firmed against most major counterparts on Monday as investors trimmed stretched risk positions in higher-yielding currencies. The safe heaven currencies were bolstered by continuing investor concerns over mounting fiscal problems in Euro-zone countries and doubts over the pace of the worldwide economic recovery. Summary USD - Dollar Rises on Manufacturing Data EUR - GBP/USD Hits 10-Month Low JPY - Yen Gains on Return to Risk Aversion Oil - Crude Oil Falls on Strong Dollar
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After a week which was mostly characterized with the halt of the Dollar's bullish trend, a hefty news week is impending. Australia, Canada, Great Britain and the Euro-Zone will all publish their monthly Interest Rates desiccations. And on top of it all, the U.S. Non-Farm Payrolls is expected on Friday. This means that an extremely volatile week is expected that holds plenty of unique opportunities to make irregular profits. Summary USD - Dollar's Bullishness is halted EUR - Interest Rates Announcement Expected on Wednesday JPY - Yen Rises on All Fronts Oil - Crude Oil is trading above $80 a Barrel
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The dollar climbed to an eight month high versus the EUR on Friday after the release of the U.S. jobs report. Credit concerns in Europe are weighing on the market as traders have moved out of riskier currencies and into the safety of the dollar and yen. Summary USD - Unemployment Rate Improves EUR - Sovereign Debt Fears Sinks the EUR JPY - Sovereign Debt Fears Boost the Yen Oil - Spot Crude Oil Prices Plummet
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Australia surprised economists by holding interest rates steady after the market unanimously predicted an interest rate hike. Also a chain of positive news has helped spot crude oil prices jump over 5.5% during the past two days. Summary USD - Pending Home Sales Hurt the Dollar EUR - Greek Debt Fears Subside JPY - Australian Interest Rate Held Steady, Shocking the Market Crude Oil - Crude Prices Jump on Positive USD Data
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The Dollar experienced mix trading yesterday, climbing against the Yen but falling against the EUR with traders anticipating both Japanese and U.S. interest rate decisions and a bloc of economic data. The economic releases to come may be a positive for the USD. Summary USD - Existing Home Sales Fall Sharply EUR - Risk Aversion is back JPY - Market Anticipates Japanese Interest Rate Decision Crude Oil - Spot Crude Oil Prices Rise with U.S. Stocks
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The U.S. Dollar firmed against most major counterparts, with the gains especially strong against the EUR, amid continued worry about Greek debt and further signs that Germany's economic recovery may be losing momentum. Summary USD - The Dollar Turns Positive after TIC Data EUR - EUR/USD Hits 4 Month Low on German Sentiment JPY - The Yen Strengthens vs. Majors Crude Oil - Crude Rises as U.S. stocks Rally
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Tuesday's much worse than expected Pending Homes Sales release boosted the U.S. Dollar and the Yen as investors returned to the safety of the greenback and the Japanese currency. Both the Yen and Dollar reverted back to gaining in times of negative economic data. A full news day today will likely prove quite volatile for the major pairs, particularly in light of yesterday's disappointing surprise. Summary USD - USD Regains Safe Heaven Status EUR - EUR Pressured by Renewed Credit Concerns JPY - JPY Benefits form Negative Economic Data Crude Oil - Crude Gains for Ninth Consecutive Day
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The Dollar began a strong rally during yesterday's session, which dropped the EUR/USD pair as low as the 1.3900 level. Today, The U.S Unemployment Claims appears to be capable of shifting the momentum into the opposite directions as analysts forecast negative figures. Summary USD - Dollar Optimism High Following Fed Statements EUR – Euro-Zone Weakens on Poor Data, EUR sees Mixed Results JPY - Yen Pares Gains as Traders Turn Westward from Europe
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