Tag: USD
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After the U.S. dollar corrected some of its gains yesterday, a new trading day, packed with significant ?economic publications is ahead. Most attention should be given to the U.S. ADP Non-Farm Employment ?Change, which attempts to estimate Friday's release of Non-Farm Payrolls. Current expectations are for a ?positive result, will the dollar erase yesterday's losses?? Summary USD - Dollar Weakens Despite Positive Consumer Confidence Report EUR - Euro Strengthens On Positive Global Data JPY - Yen Continues To Strengthen Vs. The Majors OIL - Crude Oil Drops To $71.52 a Barrel
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The Japanese yen made another bullish move against the majors as the steps taken by the Bank of Japan to weaken the yen only served to increase traders' resolve to increase bullish bets on the Japanese currency. Summary USD - Dollar Stronger Following Lower Equities EUR - Euro Weaker on Light Volume JPY - Yen Continues to Strengthen Despite BOJ Easing OIL - Crude Oil Snaps 3-day Win Streak
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The US Prelim GDP, to be released at 12:30 GMT, is the primary publication today that is set to determine the level of the US dollar. The other main release that are is to dominate forex trading, especially for currencies, is the publication of the British Revised GDP at 8:30 GMT. Traders are also advised to follow Fed Chairman Bernanke's speech at 14:00 GMT. This speech is very likely carry a higher than usual impact on Dollar volatility. Summary USD - Dollar Falls on Increased Risk Appetite EUR - EUR Rises on Gains in European Shares JPY - Safe-Haven Yen Climbs vs. Rivals Crude Oil - Crude Oil Rises above $73 a Barrel Forex Market Trends
Economic News USD The US dollar fell against most of its major currencies on Thursday, as gains in stocks and commodities prompted investors to wade into riskier currency trades. By yesterday's close, the USD fell against the CHF, pushing the oft-traded currency pair to 1.0240. The dollar experienced similar behavior against the EUR and closed at 1.2720. EUR The EUR rose on Thursday as early gains in European shares, following a climb on Wall Street, indicated improving demand for riskier assets. As a result, the EUR hit a session high against the dollar at around 1.2745 before pulling back to around $1.2720. The 16-nation single currency experienced similar behavior against the GBP and closed at 0.8190. JPY The Japanese yen has strengthened against most of its major counterparts, continuing to prove that for the time being this is the solid currency that traders can rely on to provide them with steady profits. The yen extended gains versus the dollar on Thursday, to trade above 84.40 amid a broad sell-off in the USD. The JPY also saw bullishness against the EUR and closed at 107.30. Crude Oil Oil prices extended gains to rise above $73 a barrel Thursday, as regional stock markets advanced and recent sharp losses in crude drew more buyers. Crude has fallen about 11.5% from around $82 a barrel early this month as more evidence of a slowing US economy suggested that demand for oil and gas would remain sluggish. Technical News EUR/USD This pair appears to be providing mixed signals today. The shorter time frames are floating in neutral territory, giving no clear indication. The daily chart shows the price just exiting the over-sold territory on the RSI and Stochastic, while the weekly chart has what appears to be a recent bearish cross on the Stochastic (slow) and is now descending lower. Waiting for a clearer sign of direction may be wise today. GBP/USD The price of this pair has recently entered the over-sold territory on the hourly RSI, and seems to be just exiting the over-sold territory on the daily RSI. These notions, combined with a recent bullish cross on the hourly Stochastic (slow), seem to suggest that going long would be a reasonable tactic today. USD/JPY This pair continues to float within a distinct, long-term bearish channel. The weekly chart has begun to provide hints that the pair may correct upwards in the near future, however. The weekly RSI has the price sitting just on the border of the over-sold territory. The weekly Stochastic (slow) shows the same thing. This pair may be preparing for an upward movement, but for now the down-trend remains dominant. USD/CHF The price on the USD/CHF has recently entered the over-sold region of the daily chart's RSI and may experience upward pressure in the near future as a result. This pair's weekly chart also has the pair in the over-sold territory, and shows fresh bullish crosses on the Stochastic (slow), both of which support the notion of an impending upward movement. Going long may not be a bad choice today.
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EVENTS · EMU German IFO is expected to remain stable · US Durable Goods Orders are expected to rise by 3% · US New Home Sales are expected to remain flat
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A downgrade of Ireland's sovereign debt rating late Tuesday further roiled foreign exchange markets already agitated by dismal U.S. housing sales. The Standard & Poor's Ratings Services downgraded Ireland's credit rating late Tuesday on concerns about the cost of bailing out the country's ailing banks. Summary USD - U.S Dollar Extends Losses EUR - Euro Hits New Lows vs. the Dollar and the Yen JPY - Yen Rises Broadly on Global Risk Aversion Crude Oil - Oil Rebounds with U.S. Durable Goods Data Ahead
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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 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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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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An extremely volatile trading day ended yesterday with the U.S. Dollar gaining against most major currencies. The EUR/USD pair hit a one-year low not seen since April 2009, trading below 1.3200. Volatility is expected to continue today, while European Union (EU) representatives would probably try to reassure investors regarding the stability of the EUR and aid to support Greece. This should support the EUR, which was already trading higher at Wednesday's trade opening. Summary USD - U.S. Consumer Confidence Comes High, Markets End Low EUR - Greece & Portugal Downgrade Sent EUR to Yearly Low JPY - Yen Rises as Investors Divert from Risk OIL - Crude Oil Prices Rise as Recovery Concerns Take Over
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After a relatively calm trading week, on which it seemed that the Dollar and the Yen would continue to rise, European governments have offered an aid package to Greece and have immediately created mayhem in the market. Currently the Euro and the Pound are ascending on all fronts, did you take advantage? Summary USD - Dollar Erases Gains vs. the Majors EUR - Euro Soars as European Governments Offer $61 Billion Aid Package to Greece JPY - Yen Sees Mixed Results against the Majors OIL - Crude Oil Remains At $85 a Barrel
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The Euro was provided assistance earlier today when the European Central Bank (ECB) announced that interest rates would be held steady - as was expected - and that there was little fear of a sovereign default by Greece. Such a turn of events gave the 16-nation single currency a much needed boost against its primary rival, the US Dollar, but some analysts contend that these gains will be short-lived. Summary USD - EUR/USD Exits Down-Trend EUR - EUR Gains from ECB Governor Statements JPY - JPY Bearish against Majors; Weekly Gains at an End OIL - Spot Crude Oil Price Rebounds after Week-Long Decline
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The Dollar rallied broadly, while the EUR fell to 10-month lows on Wednesday, as a ratings firm downgraded Portugal, adding to worries over debt sustainability and growth in some of euro zone's smaller countries. That supported some safe-haven flows into the U.S. dollar. Summary USD - Dollar's Rally Continues EUR - EUR Falls to a 10-Month Low Versus the Dollar JPY - Yen Drops on All Fronts Crude Oil - Oil Drops as Inventories Rise
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After two weeks in which the Euro saw a bullish correction against the Dollar, the EUR/USD pair seems on its way downwards. The pair is currently trading around the 1.3515 level, and a drop of 100 pips will mark a year low. Will it take place later on in the week? Summary USD - Recovery Indications from the U.S. Economy Strengthen the Dollar EUR - Euro Continues To Tumble Vs. The Majors JPY - Yen Corrects Losses against the Major Currencies OIL - Harsh Volatility Drives Crude Oil towards $80 a Barrel
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Yesterday ended with traders returning to the EUR and GBP while selling safe-haven currencies such as the USD and the JPY. An agreement regarding a future safety net for Greece's debt problems helped lift the EUR. Later, Standard & Poor's affirmed its rating for Greece which gave the euro another boost. The GBP experienced its biggest daily gain in several months after better than expected data was published. Summary USD - Economy Slowly Improving, Rates Held Steady
EUR - EUR Closes Higher vs. USD as Greece Concerns Ease
JPY - Yen Slides as Risk Appetite Grows
Crude Oil - Crude Oil Prices Rise supported by a Strong EUR
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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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