USD remains weak in Asian trade

Source: www.forexlive.com

A fairly quiet Asian trading session, with the USD retaining it’s weaker feel. EUR/USD is up at 1.4090 compared to a North American close Tuesday around 1.4060. The USD is being underminned by a growing realisation that the US will not infact be hiking rates anytime soon and by decent risk appetite. Asian stockmarkets made nice gains overnight. Sentiment will have been underpinned by fact Australian June consumer confidence jumped most in 22 years. Interesting piece by Sam overnight, highlighting story in Hong Kong newspaper Ming Pao Daily. The paper reports that Chinese May industrial output will show 8.9% y/y growth, appreciably better than median forecast of 7.6% (data due Friday.) If true, you’d certainly think that would give risk appetite a further boost.


Read more...

  • Don`t Cut the Deficit Yet, Ben Bernanke Tells the House

    By Michael Trinkle, ForexTraders The growth phase engineered by Ben Bernanke and his team at the Federal Reserve is a financial bubble. That much is understood by many, with reactions differing only to the extent that the bubble can be traded profitably, but as far as the consequences and dangers...

  • EUR/USD Falls Despite U.S. Trade Balance Deficit Gain

    Euro declined against the U.S. dollar today after growing during the early trading session and yesterday. The increased U.S. trade balance deficit didn’t help the Eurozone currency to advance against the greenback. Traders probably treated the drop in imports and exports...

  • Weber: ECB to absorb excess liquidity as quickly as possible

    No surprise here: the president of the Bundesbank says that the ECB will absorb the excess liquidity it has created quickly, saying the measures that bank used allow for easy reversal. He does see some signs that the intensity of the downturn is subsiding though the crisis will put strain on global...

  • FOREX VIDEO - Pre London Outlook August 24th 2009

    Hi everyone, hope you had a restful weekend. I’m looking forward to a good trading week ahead. For this outlook video, I build on last week’s Pound related analysis with a comprehensive look at Cable and the Pound Yen cross. Although there has been plenty of intraday volatility we have not...

  • Stocks staging late day rebound

    US equities have traded lower all day but are rebounding nicely late in the session, down only 0.3% after being down over 1% most of the day. Oil prices have turned up as well, helping undermine the grrnback a bit. EUR/USD has bounced to the 1.39 level once...