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The
euro continued to tumble throughout yesterday's trading session as investors
grew more concerned regarding the impact of a possible new Greek election next
month. The EUR/USD fell close to 70 pips during European trading, reaching as
low as 1.2829. Today, traders will want to pay attention to several potentially
significant market events. At 9:00 GMT, the German ZEW Economic Sentiment
figure may be able to help the euro recover some of its recent losses if it
comes in above analyst forecasts. In addition, the US Core CPI, Core Retail
Sales and Retail Sales figures, all scheduled for 12:30 GMT, could lead to
market volatility for USD pairs. Should any of the news come in above
expectations, the greenback could move up against the JPY. Summary USD - US Retail Sales Data Set to Generate Volatility EUR - Poor Industrial Production Figure Causes Euro to Slide JPY - Risk Aversion Boosts Yen Crude Oil - Crude Oil Drops Below $94 a Barrel
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The US dollar strengthened considerably yesterday moving past stops during the New York trading session and dragging commodity prices lower after gold and crude oil reached new highs. Summary USD - Dollar Strengthening on all Fronts EUR - Peripheral Nations Worry Markets JPY - USD/JPY Fails at Key Resistance Level Crude Oil - Crude Oil Sets 2-Year High
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The US dollar traded near a five-month low versus the EUR before a U.S. report today that may show existing home sales are close to a 10-year low, adding to signs the world's largest economy is struggling to recover. Summary USD - US Dollar Extends Losses EUR - EUR/USD Hits 5-Month High JPY - Yen Makes Big Gains on Dollar OIL - Crude Oil Rises Above $75 a barrel
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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 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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The market is set to go increasingly volatile today on the publication of U.S. Unemployment Claims at 12:30 GMT and the Philly Fed Manufacturing Index at 14:00 GMT, and Treasury Secretary Timothy Geithner's speech at 13:30 GMT . In turn this economic news will help determine the strength of the Dollar versus its major currency pairs going into end of week trading. In order to take advantage of the forex market now, traders are advised to start opening their USD positions now, prior to the release of this crucial data. Summary USD - USD Weakens on Weak U.S. Inflation Data EUR - EUR Jumps On Increased Optimism JPY - Yen Rises Against the USD
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The U.S Consumer Confidence report which was released yesterday, gave a surprisingly positive result, suggesting that the public is retaining its faith in the North-American economy. In today's trading, traders should pay special attention to the Existing Home Sales indicator scheduled for 14:00 GMT, as another positive figure could further strengthen the USD. Forex Highlights USD - Dollar Pairs Gains On Positive Consumer Confidence EUR - EUR Hit by Concerns over German banking sector JPY - Yen Down Versus the U.S Dollar
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Traders witnessed one of the first vital pieces of information from the Euro-Zone which actually put a dent in the plans of the EUR. The German Ifo Business Climate report failed to meet expectations and slightly lowered investor confidence in the 16-nation currency. As a result, traders may indeed see a reversal in the making for the EUR/USD unless today's news puts a halt to the correction. Sticking close to the calendar today and betting on news releases would be a wise move for the weary trader today as the movements of the forex market are not yet stabilized. Summary USD - Is a USD Rally in the Making? EUR - EUR Declines against Greenback JPY - JPY Strength Uncertain, Heavy News Week may Help
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Many forex traders witnessing the strong bearish trends across the USD pairs and crosses have been wondering when it will come to an end. As last week's Summary USD - Dollar Drops on Poor Data EUR - The EUR Soars amid Positive German Data JPY - JPY Provides Mixed Results against the Majors
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An increase in optimism led by a bullish stock market as well as positive comments made by U.S. Treasury Secretary Timothy Geithner yesterday led to an increased demand for riskier currencies. Expect a busy news day today, with important news coming from the U.S, Euro-Zone and Summary USD - Dollar Declines as Stock Market Rallies EUR - EUR Soars Against Dollar JPY - JPY Tumbles Against Dollar
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The dollar was slightly more volatile over the past week than usual, and the explanations for this have been getting trickier by the day. As for this week, forex traders are advised to take positions on trades, as a string of data releases coming out of Europe and Japan are likely to affect the greenback's main currency crosses. Summary USD - USD Rallies - Benefits from Safe-Haven Appeal EUR - Euro-Zone Fundamentals Weak as GDP Shrinks JPY - Yen Out-Performs Other Currencies
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Today, traders should pay close attention to the release of the U.S. Non-Farm Employment Change report. This indicator always provides for extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following this vital announcement at 12:30 GMT. Summary USD - Dollar Slides Against the EUR EUR - EUR Surges Versus GBP JPY - JPY Tumbles Against Currency Rivals
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The hottest news available in today's market will no doubt be the interest rate decisions by the Bank of England (BoE) and the European Central Bank (ECB) today at 11:00 and 11:45 GMT, respectively. As interest rates are one of the primary tools used to value a nation's currency, the impact of these announcements will likely push the GBP and EUR to new extremes in the minutes after they are announced. Today will be an important news-trading day for forex traders! Summary USD - Dollar Tumbles against EUR and GBP EUR - European Interest Rates on Tap JPY - JPY Falls against Major Currencies
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For the year thus far, the S&P 500 index is in positive territory. With this news the price of Crude Oil has also risen to its yearly high. However, the added buoyancy is hurting the Dollar as traders are taking on greater risk with higher yielding currencies and swapping out their safe-haven investments. Summary USD - Rising Stocks and Housing Data Hurt the Dollar EUR - EUR Continues Bullish Correction JPY - Yen Hits 3-Week Low vs. EUR
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The U.S. dollar approached a 3 week low against the EUR as better economic data worldwide saw investors grow increasingly confident that the worst in the global economy may be past, boosting risk appetite. The Dollar resent losses however, may be tempered before the Federal Reserve and Summary USD -Bank Stress Test may Suppress USD EUR - EUR Benefits from Recent Market Fears JPY - Yen's Fate may be Tied to USD; Bad News Ahead?
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The Dollar is likely to go volatile during and following the ISM Manufacturing PMI release today at 14:00 GMT. Meanwhile, forex traders are advised to take positions on trades, as a string of data releases coming out of Japan and Britain are likely to affect the greenback's main currency crosses. Summary USD - Greenback Rebounds on EUR - EUR Is Pressured By High Unemployment Figure JPY - The Yen Fall to 2 Week Low on Jobless Rate Numbers
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Rising equity markets continue to push investors towards riskier assets and away from safe haven currencies such as the USD and JPY. Traders today will be following the Unemployment Claims release for further signs the U.S economic recession is easing. Summary USD - Dollar Drops Against the Majors as Equities Rally EUR - EUR Soars Versus the USD JPY - Yen Plummets as Economy Improves
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The U.S. dollar fell on Monday to its lowest in a month against the Yen as worries about the spread of the swine flu from Summary USD -Swine Flu puts Downward Pressure on the USD and Tourism EUR - EUR Positive After PMI and Ifo Provide Surprising Results JPY - JPY's Recent Gains Set to Reverse
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Whilst the Dollar declined in yesterday's trading against most of its major currency pairs, Oil prices recorded considerable gains. Thus lately, there has been an inverse relationship between the greenback and the black gold. Therefore it is important to follow economic news releases from the Summary USD -Dollar Foresees a Bearish Trading Session EUR - EUR Soars vs. the Dollar JPY - Yen Declines as the Japanese Economy Plummets
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