Tag: USD
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A batch of negative euro-zone economic indicators, including a worse than expected manufacturing PMI, drove the EUR/USD to its lowest level in over a week during trading yesterday. The news also resulted in the euro dropping over 140 pips against the yen during the European session. Turning to today, European news is forecasted to generate significant market volatility. Traders will want to pay attention to the results of a Spanish debt auction, as well as to the ECB Press Conference at 12:30 GMT. Should any of the news signal further troubles regarding the euro-zone economic recovery, the common currency could drop further before markets close for the week. Summary USD - ADP Employment Figure Leads to Dollar Losses EUR - ECB News Set to Impact Euro Today AUD - Risk Aversion Leads to Aussie Losses Crude Oil - US Inventories Figure Causes Oil to Drop
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Positive Chinese and German economic indicators led to some bullish movement for the euro during mid-day trading yesterday. That being said, the gains were for the most part short-lived, as the common currency once again began moving downward by the evening session. Today, traders will want to pay attention to a batch of British and US indicators that are likely to generate market volatility. Summary USD - USD Moves Downward Following Increase in Risk Taking EUR - German Data Gives EUR a Boost CAD - BOC Leaves Interest Rates Unchanged; CAD Takes Slight Losses Crude Oil - Positive Global Data Sends Crude Upward
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Today's non-farm payrolls report is expected to show improvement in US employment data as many economists have upped their forecasts following the strong ADP report. However, traders may want to remain skeptical as US unemployment is still at uncomfortably high levels. Summary USD - Staying Skeptical of Todays Non-Farm Payrolls Report EUR - Draghi Suggests Greater EU Integration CHF - Negative Interest Rate Rumor Fuels CHF Weakness Wheat - Wheat Prices Underperform
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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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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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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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With an abnormal number of news events coming from Summary USD - Dollar Goes Volatile on EUR - Pound Slumps as Financials Climb JPY - Yen Climbs against Majors
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Traders moving assets to safer, lower yielding currencies appear to be playing a factor in the correction of the major crosses. The USD and the JPY have been the primary beneficiaries of this trading strategy. Comments by Treasury Secretary Geithner also have been swaying the Dollar. Further testimony by Geithner today could push the Dollar higher once again. Summary USD - Greenback Advanced vs. the EUR on Crisis Concerns EUR - EUR Rebounds on Positive German Sentiment JPY - Yen Bullish Day on Strong Export Numbers
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Drops in Summary USD - Drop in Equities Leads to a Higher Dollar EUR - EUR Continues to Decline Against the Pound and Dollar JPY - Less Risk Taking Helps the Yen Rise Across the Board
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Last week, traders saw a flurry of economic news affecting the American economy and practically zero news emanating from Summary USD - USD Moves Up against Rivals EUR - EUR's Movement Negative, but Busy News Week May Prove Fruitful JPY - Gains on Wall Street and an Indecisive ECB Leads JPY Higher
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After some surprising data regarding Summary USD - U.S. Dollar Rises on Positive Economic Data EUR - The EUR Loses Momentum JPY - Yen Gains On |
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The movements we saw during Friday's trading session may be have been exaggerated on Friday and may be reversed. Today many trading desks will be vacant during the European trading hours. Traders should be aware of the volatile price swings that are prone to happen when there is a lack of liquidity in the forex market. Summary USD - Volatile Week Expected Due To Batch of U.S Economy Publications EUR - EUR Dropping In Light Of Poor Data JPY - JPY Appreciates Against All the Majors
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| Comments | 0 | Hits: 258 |
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The greenback continues its correction as better unemployment numbers and rising import prices helped to strengthen the Dollar yesterday. Liquidity may be thin during today's trading due many European firms closed for holiday. However, this may only increase price volatility, creating the potential for traders to take advantage of other's missed opportunities. Summary USD - The Greenback Heads for Its Weekly Gains EUR - JPY - Yen Drifts on Market's Slow Activity
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The European single currency came crashing on Tuesday after data showed the Euro-Zone economy recorded its deepest ever quarterly fall in the 4-quarter of 2008. As a result, the currency market moved back to the U.S currency after optimism regarding the European economy faded. The USD which is seen as a safer bet than others currencies in times of market stress will likely keep drawing demand as investors stay away from riskier assets. Summary USD - USD Regains Lost Momentum from Under-Performing Stock Market EUR - EUR's Recent Depreciation May Not End This Week JPY - JPY Pares Losses and Stabilizes as it Regains Trader Confidence
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