Tag: technical
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After hitting a three month high against the U.S. dollar in trading yesterday, the euro took some slight losses last night, falling some 30 pips against the greenback. The overall trend for EUR/USD is still up, especially ahead of the U.S. Advance GDP figure, which is forecasted to show a slight decrease from the previous report. Summary USD - Dollar Manages Slight Gains, But Remains Low Overall EUR - EUR Records Gains on USD, Losses Against JPY and CHF JPY - Safe Haven Yen Climbs Vs. Rivals OIL - Crude Oil Jumps in Overnight Trading
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The Dollar appreciated against the most of its major counterparts on Tuesday, as a drop in U.S. consumer sentiment to a five-month low cut risk appetite. Yesterday, the CB Consumer Confidence index for July fell to 50.4, below its expected reading of 51.3, as Americans become increasingly concerned over the stability of their jobs and their wages. Meanwhile, a separate report showed that home prices rose more than predicted in May as a government tax credit underpinned sales.
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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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After a long time waiting, the Euro-Zone's famous Bank Stress Tests results were finally published on Friday evening. The results failed to reassure investors regarding the stability of the European banking system as analysts claimed that the test weren't strict enough. As this week begins, the reliability of the tests will remain the main topic. Will it eventually boost the Euro? Summary USD - The Dollar Ends A Volatile Trading Week Following Mixed Data from the U.S. EUR - Stress Tests Fail to Ease Investors' Concerns from a Possible Debt Crisis JPY - Yen Weakens Against the Majors OIL - Crude Oil Prices Consolidates Around $79 a Barrel
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| Comments | 0 | Hits: 51 |
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Both the euro and British pound fell against the safe haven currencies yesterday, following a speech from FED Chairman Bernanke which caste doubt over the pace of the global economic recovery. While the euro has traded steadily against the U.S. dollar in overnight trading, it continues to fall against the yen. Summary USD - USD Sees Moderate Gains Following Return to Risk Aversion EUR - Euro Breaks its Bullish Streak. Falls Against Yen JPY - Yen Soars Against Majors as Risk Aversion Returns OIL - Oil Prices Tumble Following Surprise Increase in Reserves
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| Comments | 0 | Hits: 47 |
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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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The U.S. Core CPI is the primary publication today that is set to determine the level of the dollar when the report is released at 12:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the dollar and euro is the publication of the U.S. TIC Long Term Purchases and Prelim Consumer Sentiment at 13:00 GMT and 13:55 GMT respectively. Traders may find good opportunities to enter the market following these vital announcements. Summary USD - USD Falls on Negative Economic Data EUR - EUR/USD Hits 2-Month High JPY - Yen Experiences Mixed Results against Major Currencies OIL - Oil Prices Fall Based on Weak U.S. Data
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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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The 1-0 over-time victory of Spain over the Netherlands in yesterday's World Cup Final has generated an interesting question among market analysts. Does this victory put optimism and positive sentiment back into Spain's crumbling economy? Can it boost short-term growth enough to add further momentum to the euro's latest gains against its primary rivals? Summary USD - USD Sinking Under Weight of Risk Appetite EUR - Does Spain's Victory in the World Cup Help the EUR? JPY - Kan's Democratic Party Defeat Saps JPY Strength OIL - Chinese Imports and Weak USD Boost Oil above $76
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Today, traders should pay close attention to the release of the U.S. Consumer Confidence report. This indicator always leads to extreme market volatility for the major currency pairs. Traders may find good opportunities to enter the market following this vital announcement at 14:00 GMT. Summary USD - USD Rises against EUR on Sign of Strengthening Economic Recovery EUR - EUR Weakens to a 1 1/2-Year against the Pound JPY - Yen Sees Mix Results against the Majors Crude Oil - Oil Falls below $78.50
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Analysts have begun to make positive statements regarding China's latest announcement that it may consider an easing of the rigidness of their monetary policy. This could result in the Chinese yuan being allowed to appreciate normally and boost risk appetite and market optimism in regards to a speedier recovery. It appears traders are scanning the horizon for a silver lining and China is believed to have come to the rescue, finally. But has it? Summary USD - Will China's Latest Move Kick-Start a Global Recovery? EUR - EUR in Recovery as Risk Appetite Gets Boost from China JPY - Will New Japanese PM Respond to China with a De-Valuation? OIL - Crude Prices in Appreciation on Boosted Demand and Weak USD
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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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| Comments | 0 | Hits: 93 |
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The EUR pairs rose from Friday's lows, particularly against the US Dollar and Japanese Yen, despite the continued slide in global equities. The EUR/USD finished the day higher despite a trading day that was influenced by reduced risk taking. Global equities were lower across the board with the DAX down 0.57% and the S&P 500 lower by 1.35%. Most of the gains in the EUR/USD, however, can be contributed to profit taking from Friday's trading session. Summary USD - Dollar Pares Losses on Slide in US Equities EUR - EUR Comes Off Low vs. USD JPY - Yen Rises in Late Trading Crude Oil - Slow Growth and European Fiscal Concerns Weigh on Oil
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Renewed debt concerns among the Euro-zone countries sent the single currency spiraling down yet again in overnight trading. EUR/USD dropped well below the 1.2200 level, approaching a 4-year low. Today, traders can expect a number of U.S. economic indicators to create volatility in the marketplace. Whether or these indicators this will help the Euro is still unknown. Summary USD - Dollar Receives a Boost Following Durable Goods Report EUR - China Debt Reassessment Sends Euro Lower JPY - Yen Retains Safe-Haven Status and Continues to Make Gains Crude Oil - Crude Receives a Boost Following Inventories Report
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The Euro fell broadly throughout the night following news that the Spanish government is planning to takeover a smaller savings bank due to a failed merger attempt. The EUR/USD, currently trading below the 1.2300 level, has fallen more than 100 pips since yesterday evening as one of the results. Summary USD - Dollar Receives Boost Following Existing Home Sales Report EUR - EUR/USD Dives Due to Renewed Deficit Worries JPY - Risk Aversion Leads to Gains for the Yen Crude Oil - Euro-Zone News Drops Crude below $70 a Barrel
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| Comments | 0 | Hits: 88 |
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The EUR rose more than 1% against the U.S dollar and Japanese yen on Wednesday, recouping a steep drop that had extended into the early hours. A fresh round of speculation about other policy actions, including the possibility European officials were preparing to intervene in currency markets to prop up the EUR, kept volatility high. Summary USD - U.S. Dollar Declines after Fed minutes EUR - EUR Rebounds after 4 Year Low JPY - The Yen Rises across the Board Oil - Oil Ends Lower in Choppy Trading
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With the Euro already recording fresh 14-month lows against the U.S. Dollar on Thursday, the single currency may see a significantly larger price drop following the U.S. Non-Farm Payrolls report. Set to be released at 12:30 GMT, the report is forecasted to show an increase in the American employment figure. This will likely weigh heavily on the Euro. Summary USD - Non-Farm Payrolls Could Lead to Big Gains for the Greenback EUR - Euro Continues to Fall With No End in Sight JPY - Yen Makes Big Gains as Safe Haven Currency OIL - Spot Crude Plummets on Market Turmoil
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Fears that the sovereign debt issues will spread to other weak economies such as Spain and Portugal as well as concerns that the bailout package will not be enough to return Greece to solvency caused the EUR to fall to its lowest level in 14 months versus the USD. Summary USD - USD Gains on Negative Market Sentiment EUR - EUR Drops over 1% versus the USD JPY - Yen Rallies versus Counterparts OIL - Crude Price Drop blow $80 a Barrel
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| Comments | 0 | Hits: 99 |
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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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