Tag: USD
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Last week's trading was mostly characterized by the sharp change of trends in the market. The most notable trend reversal was of the Euro, which dropped during the beginning of the week, just to bounce back later on, due to speculations of a Greek rescue plan. The main question for this week's trading is whether the Euro will continue to recover, or will the EUR/USD pair will reach a new low. Summary USD - Dollar Advances on Positive U.S. Economic Data EUR - Speculations of Rescue Plan for Greece Boosts the Euro JPY - Yen Slides against the Majors OIL - Oil is traded for over $80 a Barrel
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The USD was higher against its major counterparts Wednesday, heading toward its highest levels versus the EUR since last summer, following the release of better than expected economic data from the U.S. Summary USD - The USD Rallies on Better than Expected Economic Data EUR - Credit Concerns Continue to Pressure the EUR JPY - Yen Gains on Poor Data from Asia Crude Oil - Crude Prices Decline on Weak Demand
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The American economy is due to release a number of reports today which may have a moderately heavy impact on today's trading. The Personal Spending and Personal Income reports due at 13:30 GMT will carry a level of significance in today's market, but not nearly as much as the ISM Manufacturing PMI scheduled for 15:00 GMT. Forex traders won't want to miss out on these reports especially since many are forecasting a short-term downward correction for the USD in today's trading. These reports will either debunk or verify that notion. Summary USD - Is the USD Expecting a Downturn Today? EUR - EUR News Absent from Today's Trading JPY - JPY Bullish from Pacific Growth and Risk Aversion Crude Oil - Spot Crude Oil's Next Target $68 a Barrel?
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Following signals from the U.S. Federal Reserve that American interest rates may be increased sooner then expected, the U.S. Dollar got a significant boost in trading last night and in the early morning today. Today, a full set of Dollar related news events will likely determine the direction the greenback goes for the rest of the week. U.S Unemployment Claims will Determine Today's Trend The U.S. Dollar awaits the publication of the Unemployment Claims at 13:30 GMT from U.S. The result is expected to be 451K, slightly better than the previous result of 482K. This economic news release is expected to be the key driver of forex trading, and trading of the USD's main crosses as the U.S market opens. So far today, the EUR/USD cross is virtually unchanged at the 1.4005 level. The greenback is actually trading about 100 pips lower against the GBP, following a bearish movement for the GBP/USD in last week trading. Against the Japanese currency, the USD/JPY is currently trading at 90.20. The other release today that is set to determine the levels for the USD and its most traded pairs are the Core Durable Goods Order at 13:30 and Treasury Sec Geithner Speech at 14:45 GMT. These are the main events for today, and are set to determine the strength of the main crosses. Therefore, it is advised that you open positions in the major pairs now. Summary USD - Interest Rate Rumors Boost Dollar EUR - Euro Hits near Record Lows against Dollar JPY - USD/JPY Rises Following FED Meeting Crude Oil - Oil Increases Following American Inventories Report
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American and European stocks traded lower this week due to risk aversion among traders, and this has helped support the Dollar's resurgence. With a EUR-heavy news day ahead of us, the USD may take a back-seat during the morning hours. A slew of positive releases from the Euro-Zone could allow us to see a rebound in a few of the major pairs. On the other hand, if Europe's data falls short of expectations, traders should anticipate a continuation of the bullish run in the USD. Summary USD - U.S. Dollar Trades Higher on Stock Market Declines EUR - EUR Troubled by Stream of Negative Data JPY - Japanese Yen Receives Boost from Risk Aversion Crude Oil - Oil Inventories May Support a Price above $80 a Barrel
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The U.S Dollar declined against major counterparts Monday as risk appetite returned on renewed confidence about an impending global economic recovery. The renewed optimism fueled demand for the EUR as well as currencies from commodities-rich countries such as the AUD and NZD. Summary USD - USD Declines on Rise in Optimism EUR - EUR Rises as Demand for Riskier Currencies Grows JPY - The Yen is higher against Major Counterparts OIL - Crude Prices Decline on Prospects of Warmer Weather
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Today, traders should pay close attention to the release of the U.S. Unemployment Claims report. This indicator always produces extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following this vital announcement at 13:30 GMT. Summary USD - USD Down Following FOMC Meeting Minutes EUR - EUR Rallies against Dollar and Yen JPY - Yen Free Fall Continues Crude oil - Crude oil Rises on Weak Dollar
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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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With a slow trading day expected today, investors will likely keep there eyes on the U.S. Dollar and whether it can maintain its recent upswing going into the New Year. Set to be released later today, the U.S. Consumer Confidence report should give traders a good idea about the general direction of the greenback as 2009 draws to a close. Summary USD - Consumer Confidence Report Likely to Impact Greenback EUR - Euro Slips against Major Currencies JPY - Yen Sinks against Dollar Crude Oil - Oil Prices Up Ahead of New Year
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The U.S. dollar continued to strengthen against the majors during Tuesday's trading session. Driving the dollar higher was a rise in existing home sales for the month of November and Final GDP numbers for the 3rd quarter that suggest the U.S. economy is improving. Summary USD - Dollar Moves Higher on Positive Economic Data EUR - Sovereign Debt of Greece Downgraded JPY - Yen at Seven Week Low Versus the Dollar Oil - OPEC Holds Output Firm as Spot Crude Oil Prices rise.
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Following the optimistic forecast for the U.S. economy given by the Federal Reserve Bank (FED) on Wednesday, the U.S. Dollar continued to make serious gains against its major counterparts well into morning trading. The EUR/USD pair was trading at around the 1.4465 level this morning, a steep decline from only hours earlier. Summary USD - Dollar Makes Big Gains Following FED Statement EUR - EUR Drops Below $1.4500 JPY - Yen Takes Losses Against the Dollar Crude Oil - Oil Prices Rise as Inventories Fall
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The dollar fell slightly against the major currencies on Monday as signs of a sustained economic recovery and reduced concerns of a default in Dubai curbed demand for the U.S. currency as a refuge. The emirate's move initially prompted investors to sell the dollar and pushed up global equities on improved risk appetite. Summary USD - Dollar Falls on Dubai Bailout EUR - EUR Boosted by Increased Risk Appetite JPY - Yen Experiences Mix Result against Major Currencies OIL - Crude Oil Declines on Falling Demand
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The U.S. dollar rose on Tuesday to the highest level versus the EUR in 5 weeks and gained against other major currencies, as worries about high levels of debt in Greece and Dubai led investors to buy assets that would offer protection in a crisis. Summary USD - Dollar Falls Broadly against the Yen after Bernanke Comments EUR - EUR Trades Lower on Concerns More European Rating May be Cut. JPY - Yen Advances vs. Majors OIL - Crude Reverses after 5-Day Decline
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Due to a much better than expected U.S Non-Farm Employment Change figures for November, the Dollar rose against all the major currencies on Friday. Moreover, this has been one of the first times since the recession began that positive data from the U.S have boosted the Dollar. Does this mean that the Dollar is on its way to recovery? Summary USD - Dollar Soars on Unexpected Non-Farm Payrolls Figures EUR - Euro Drops against the Majors JPY - Has the Yen's Bullish Trend Reached its End? OIL - Crude Oil Stabilizes around $75.50 a Barrel
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The U.S. Dollar rallied against the Yen on Wednesday amid speculation that the Japanese government would intervene in order to prevent its currency from rising any further. The intervention would be an attempt to help the Japanese export industry, which has suffered due to the high yielding JPY. The Dollar has taken advantage of this, making impressive gains throughout the afternoon on Wednesday and into the evening. The greenback has advanced as high as 87.81 against the Yen, leaving last week's record low numbers behind. Summary USD - Dollar Gains on Yen, Reports Losses against High Risk Currencies EUR - Euro Extends Gains Ahead of ECB Meeting JPY - Yen Continues to Slide amid Rumors of Government Intervention Crude Oil - Crude Falls below $77 Following U.S. Inventory Report
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The Dollar fell to its lowest level in 15 months against the EUR and a basket of other major currencies Wednesday as concerns about Dubai's debt problems faded adding to demand for higher-yielding assets. Government-related Dubai World said it began talks with banks to restructure $26 billion of debt. The holding company is seeking to delay payments on less than half its $59 billion of obligations, easing concern a potential default may set back the global financial system's recovery from the credit crisis. Summary USD - U.S Currency Rises vs. Yen after BOJ Meeting EUR - GBP Rises as U.K. House Prices Advance JPY - Yen Weakens on BOJ New Operations Oil - Crude Trades Around $78 Ahead of EIA data
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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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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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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 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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