Tag: technical news
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The Dollar decreased dramatically on Monday after a big day on Wall Street led to increased risk taking behavior among investors. An increase in equity and the price of commodities, as well as positive news on existing U.S. home sales had a dramatic effect on trading. Investors dumped their dollars in favor of high yielding currencies such as the EUR, which made impressive gains. Summary USD - USD Falls Amid Gains In The Stock Market EUR - EUR Makes Gains, But Can't Break $1.50 JPY - JPY Bounces Back After Yesterdays Losses Crude Oil - Crude Prices Level Out
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| Comments | 1 | Hits: 105 |
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While all the major currencies continue to provide mix results, there is still one extremely strong in the market - the bullish Gold. During last night gold reached over $1,163 an ounce, making another all time high. However, a recovery of the Dollar, if indeed takes place, has the potential to put an end to Gold's uptrend. Summary USD - Is the Dollar Recovering? EUR - Euro's Bullishness Halts JPY - Yen Strengthens on Positive Japanese Data OIL - Oil's Range Trading Continues; Tension in the Middle East Rises
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| Comments | 1 | Hits: 95 |
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The Dollar and Yen gained against the EUR and other higher yielding currencies Thursday on concerns about the sluggish pace of the world economic recovery. A Decline in equity and commodity prices pushed investors back into the USD and JPY as safe haven currencies. Summary USD - USD Gains on Weak U.S Economic Data EUR - EUR Struggling to Rise above $1.50 Level JPY - JPY Trades Near a Two Week High versus Euro Crude Oil - Crude Declines on Falling Equities
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| Comments | 1 | Hits: 100 |
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Comments by Fed Chairman Ben Bernanke surprised many investors as he joined the rallying cry for a stronger Dollar, which may lead to strength for the USD in the days ahead. On the other hand, the USD still faces downward pressure from sudden spikes in risk appetite following positive news reports as its safe-haven status has not yet diminished. After last week's drop in consumer confidence, safe-havens like the USD and JPY have begun to regain some of their strength. Summary USD - Bernanke Statements Diminish USD in Short-Term; Strength Ahead? EUR - EUR Bearish following Consumer Confidence Drop JPY - JPY Gaining from Rising Risk Aversion Crude Oil - Oil Prices Defy Strengthening USD, Breach $80
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| Comments | 2 | Hits: 99 |
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The other major releases from the U.S. that forex traders are advised to follow are the TIC Long-Term Purchases, Core PPI and Industrial Production. Summary USD - Dollar Tumbles on All Fronts EUR - GBP Climbs as Optimism Kicks In JPY - Yen Soars against the Dollar OIL - Crude Oil Rises by Most in 6 Weeks
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| Comments | 1 | Hits: 87 |
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The strongest trend in the market appears to be the bullishness of gold. Gold continues to break new records on a daily basis, and with a week packed with publications from the U.S economy entering, the main question is, can gold reach higher? Summary USD - Dollar Continues to Weaken Following Disappointing Data EUR - Euro Sees Mixed Results against the Majors JPY - Japan's Interest Rate Announcement Expected this Week OIL - Crude Oil Drops on Weak U.S. Energy Demand
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| Comments | 1 | Hits: 88 |
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The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 13:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Industrial Production from the Euro-Zone at 10:00 GMT and Crude Oil Inventories at 16:00 GMT. Traders may find good opportunities to enter the market following these vital announcements. Summary USD - Unemployment Claims Report on Tap - Will USD Weakness Continue? EUR - EUR Strengthens as GBP Sinks JPY - Yen Declines as Stock Market Rallies Crude Oil - Traders Await Crude Oil Inventories Report
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| Comments | 1 | Hits: 99 |
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The U.S Dollar bounced off a 15-month low yesterday and the EUR dipped below $1.50 as investors paused to assess whether the global outlook justifies a recent rally in higher-yielding currencies and assets. The British Pound in particular struggled on Tuesday after Fitch ratings agency told Reuters that Britain was the major economy most at risk of losing its top AAA credit rating.
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| Comments | 1 | Hits: 79 |
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The Dollar is expected to be the driver of the forex market today. This is following yesterday's bearish session for the U.S. currency. Traders will be very mush focused on Federal Reserve Bank of Atlanta President and key Federal Reserve FOMC (Federal Open Market Committee) member Dennis Lockart's speech at 14:15 GMT, and the IBD/TIPP Economic Optimism release at 15:00 GMT. It is encouraged that you traders open big positions in the USD now. Summary USD - Dollar Falls on Higher Risk Appetite EUR - Pound Climbs to 3-Month High vs. Dollar JPY - Yen Goes Volatile against the Majors Crude Oil - Oil Jumps on Weak Dollar
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| Comments | 1 | Hits: 74 |
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While the Dollar drops against the major currencies due to the disappointing U.S employment data from Friday, the strongest trend in the market appears to be the bullish gold. Gold continues to break new record highs on a daily basis, and has now reached over $1,100 on ounce. Can it reach higher? Summary USD - Dollar Slides on Negative Employment Data EUR - Euro Rises against the Majors JPY - Yen Sees Mixed Results against the Majors Oil - Oil Rises Due to Hurricane Ida Concerns
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| Comments | 1 | Hits: 78 |
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The Bank of England's (BOE) rate statement is due at 12:00 GMT while the European Central Bank (ECB) press conference is expected at 13:30 GMT. While both banks are expected to keep their interest rates at their current level, the statements should provide an insight to the current economic conditions as well as economic outlook for the near future. The BOE is expected to increase its quantitative easing program. Summary USD - USD Down Following Fed Statement EUR - Pound Gains on Optimistic Services PMI JPY - Yen Gains ahead of U.S Unemployment Rate Report OIL - Oil Rises Above $80 a barrel
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| Comments | 1 | Hits: 76 |
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The Federal Reserve is expected to keep its benchmark Interest Rate unchanged near zero today, as traders get ready for a busy news cycle. Investors will focus on the interest rate outlook, but many analysts say the Fed is unlikely to change the wording of its pledge to keep rates low for an extended period. This may have the result of stabilizing USD trading, or potentially driving the world's primary currency to new extremes. Will the USD experience a reversal from yesterday's bullishness? Summary USD - Dollar Advances vs. EUR ahead of Fed Statement EUR - Sterling Falls Sharply on UK Banking Sector Concerns JPY - Yen Hits Session Low vs. USD Crude Oil - Crude Oil rises 2% Ahead of U.S. Factory Data
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| Comments | 1 | Hits: 78 |
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The USD is likely to move on the U.S. Factory Orders publication today at 15:00 GMT. The reason why this release is so important is due to Monday's releases that showed the U.S. economy is on a rapid road to recovery. Therefore, a similar result today could lead to very high volatility in the forex market, and a possible mass sell-off of the Dollar. In order to make some decent profits today, you should open large positions in the EUR/USD, GBP/USD and USD/JPY pairs now. Summary USD - Dollar Slides on Global Economic Recovery EUR - Pound Plummets on Optimistic Manufacturing Data JPY - JPY Loses Ground on All Fronts Crude Oil - Oil climbs on Optimistic U.S. Data
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| Comments | 1 | Hits: 57 |
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The surprise drop in New Home Sales in the United States yesterday has resulted in a sudden buy-up in USD as investors flock to safe-havens. With a market that appears to be lacking a clear direction recently, major reports such as the New Home Sales report yesterday and today's Advanced GDP data become that much more important to watch as more investors await their release before trading. Summary USD - Dollar Rises despite Negative Data EUR - EUR Sliding against Rising Safe-Havens JPY - Yen Benefits from Stock Market Losses Crude Oil - Crude Oil Slips Below $78 a Barrel
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| Comments | 1 | Hits: 81 |
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The USD continued to advance Tuesday against major currencies as a measure of U.S. consumer confidence registered an unexpected decline for October. Gold futures extended losses from the previous session as the USD rose. December Gold fell $7.40, to settle at $1,035.40 an ounce on the Comex division of the New York Mercantile Exchange and is currently trading around $1041. Summary USD - USD Gains on Weak Consumer Confidence EUR - EUR Down ahead of the Release of Key German Data JPY - Yen Gains on Return to Risk Aversion Oil - Crude Prices Up ahead of Inventory Data
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| Comments | 1 | Hits: 72 |
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Dollar trading today is set to be dominated by key releases from the U.S., such as the CB Consumer Confidence figures at 14:00 GMT. The speech by Treasury Secretary Timothy Geithner at 20:00 GMT is also set to be a market mover when it takes place at 20:00 GMT. It is also recommended that you follow the results from top U.S. companies, as this may help the U.S. Dollar continue to gain on its recent bullish trend. Summary USD - Dollar Soars on Safe-Haven Status EUR - GBP Rises on All Fronts JPY - Yen Makes Gains vs. the Pacific Currencies OIL - Crude Oil Slides on Rising Dollar
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| Comments | 1 | Hits: 66 |
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The Dollar strengthened versus the EUR following a decline in stock markets, poor U.S economic data and an unexpectedly dour outlook from the Bank of Canada. Concerns about the strength of U.S. corporate earnings and the strength of the global economic recovery dampened demand for risky assets, halting hit the EUR's attempt to breach the $1.50 mark Tuesday. Summary USD - USD Gains on Poor Economic Data EUR - EUR falls on Concerns the Currency's Strength is Hurting Recovery JPY - Yen Mixed against Major Currencies OIL - Crude Drops below $79 a Barrel
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| Comments | 0 | Hits: 73 |
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The U.S. Unemployment Claims and U.S. Core CPI data are set to drive forex trading today when they are released at 12:30 GMT. If strong economic data continues to be published from the U.S, U.K and Europe today, combined with strong equity performances this may continue to lead to a sell-off of safe haven currencies today, and push investors to higher yielding, riskier currencies as many see the global recession coming to an end. This could also push Crude Oil to the $77 price level. Summary USD - Dollar Falls to a 14-Month Low EUR - EUR Rises on Increased Optimism JPY - Yen Loses Ground on All Fronts Crude Oil - Crude Oil Rises Above $75 a Barrel
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The U.S. Dollar fell against a basket of currencies to within sight of recent lows on Tuesday as Gold hit a new high and Oil prices strengthened. The USD and commodities are often inversely correlated, with Gold and Oil priced in dollars and seen as an alternative currency and hard asset themselves. Ahead of U.S. corporate earnings figures and speeches from Federal Reserve officials later in the day, currency investors continued to speculate about when the U.S. central bank will tighten its monetary policy, thus putting more pressure on the U.S currency. Summary USD - Dollar Trades near 14-Month Low as Investors Favor Gold EUR - EUR Hits Record Highs JPY - Yen Gains as Equity Markets Move Lower Crude Oil - Oil Reaches towards $75 on OPEC Demand Forecast
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| Comments | 0 | Hits: 62 |
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Federal Reserve Chairman Ben Bernanke's speech yesterday gave a much needed boost to the Dollar against its major currency counterparts, particularly the JPY. Bernanke shifted to a more hawkish tone in terms of the timing of exit strategy following moves by other central banks, stating the bank is ready to tighten monetary policy once the economy improves. ECB President Trishet also supported a strong Dollar in his statement yesterday. Summary USD - Dollar Recovers Losses after Trichet-Bernanke Exchange EUR - EUR/CHF at Trend Peak, Due for Downward Correction JPY - JPY Falls before Holiday Weekend Crude Oil - Crude Oil Price near Short-Term Peak; Correction on the Way?
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