Surprisingly strong consumer confidence numbers are supporting the AUD/USD and flows are affecting USD/JPY as the weakness in the USD from overnight shows signs of continuing. There is talk of some decent selling interest in the EUR/USD at 1.4100 but trailing stops are also said to be increasing above 1.4120.
USD still weak as JPY and AUD lead the way
Source: www.forexlive.com
Read more...
Do you know who is managing your money?
As investors look for guidance in these troubled markets, one question can’t be avoided: Whom can you trust? During boom times, it was easy to hire a financial adviser and jump in the market. Now the market is in chaos and thousands of investors have been devastated by fraud, with Madoff...
Central Bank of Kenya Holds Interest Rate at 18.00%
The Central Bank of Kenya kept its benchmark lending rate steady at 18.00%, and held the Cash Reserve Ratio at 5.25%. The...
Darling, Mandelson stay
The two posts that matter to the market , Chancellor and Business secretary, the post created for Peter Mandelson, are retained by their present holders in PM Brown’s new cabinet. Purchasing green bananas for the office canteen is not recommended for any of the Labour government. Cable trades...
JPY firms in Asian trade
The JPY has seen across the board strength in overnight Asian trade, with a pick up in caution evident. USD/JPY is down at 94.00 from a North American close Monday up around 94.50, while EUR/JPY is down at 134.50 from around 135.10. Chinese stocks have been hit again. Yesterday’s cautious...
FOREX VIDEO - New York Session Review - August 27, 2009
The US dollar had attempted, but failed, to make new gains against multiple currencies for a full round-the-clock cycle. During the final hour of European trading, the USD bulls seemed to give up, and the bears stepped in. Currency correlation, identification of basic support and resistance, and a...