By GCI Financial - The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4140 level and was...
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Fundamental Outlook at 1400 GMT (EDT + 0400)
June 10 2009, 6:25pm | Comments »
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EUR/USD dips to 1.3960 support as longs continue exodus
EUR/US has fallen back to the 1.3960 area as longs continue to head for the sidelines in frustration. Animal spirits were whipped up over the last 24 hours only to come unglued in US morning trade. Small central bank buying has been seen on this latest dip with the more active trading CBs playing both sides of the market today. In the medium-term, large stops are building below the 1.3800 level. Until that level breaks, look for whippy price action in the 1.38/1.43 region in the days ahead. Prices have retraced more than 50% of the jump from 1.38 to 1.4145. The 61.8% retracement comes in at 1.3931. Important support for Cable is approaching between 1.6290 and 1.6300. Another crop of stops lies below that level.
June 10 2009, 6:19pm | Comments »
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US Trade deficit increases in April. Dollar gaining in Forex Trading today.
Wednesday, June 10th - The United States trade deficit edged up in April for the second consecutive month...
June 10 2009, 6:04pm | Comments »
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Lacker: Brighter economic outlook, falling deflation fears shape yield curve
Commenting of the very steep US yield curve, Richmond Fed’s Lacker says that a brighter economic outlook and easing deflation fears are mostly responsible. Left unsaid (or unreported) is the fear of a dollar decline are a big part of the back-up in yields as foreign investors fear their purchasing power will be eroded. Also crossing the wires are comments from a Canadian finance ministry official that the dollar will remain the global reserve currency for some time. The official also said US consumers will not fuel a global recovery; more demand will have to come from Asia. USD/CAD is well-supported today as the reflation trade unwinds and poor Canadian trade data and hosusing prices undermine the recent Loonie rally. USD/CAD trades at 1.111.
June 10 2009, 5:53pm | Comments »
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EUR/USD Moves Higher Despite Weak French Industrial Production
By Fast Brokers - The EUR/USD is rebounding past 1.40 despite weaker than expected industrial production numbers from both Germany and France [...]
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- Forex
- Production
- Industrial
June 10 2009, 5:15pm | Comments »
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GBP/USD Continues its Recovery after Positive Manufacturing Production
By Fast Brokers - The Cable has jumped over our 2nd tier downtrend line as investors celebrate a better than expected manufacturing [...]
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- Forex
- Production
- Manufacturing
June 10 2009, 5:12pm | Comments »
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USD/JPY Rises after Disappointing Core Machinery Orders Data
By Fast Brokers - The USD/JPY is rising back towards our 3rd tier downtrend line after the weaker than expected showing from [...]
June 10 2009, 5:09pm | Comments »
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And yet another Forex Ponzi scheme! This time targeting Korean ...
I'm constantly trying to warn naive (and sometimes the most sophisticated) investors that people promising unthinkable returns but refusing to disclose all ...
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June 10 2009, 4:44pm | Comments »
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Forex Market Update: US Dollar Remains Under Pressure as Risk ...
A broad rise across European equity markets boosted risk appetite and weighed heavily on the dollar. EUR/USD traded up to 1.4144 and Cable hit 1.6442 highs ...
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June 10 2009, 3:18pm | Comments »
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Crude Oil Prices Surprise with Bullishness as USD Weakens
By ForexYard - Many analysts yesterday had anticipated a slight decline in the price of Crude Oil considering the recent strength...
June 10 2009, 3:05pm | Comments »
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FOREX-Dollar falls as economy hopes cool risk aversion
By Harpreet Bhal LONDON, June 10 (Reuters) - The dollar declined across the board on Wednesday led by a retreat in risk aversion as stock prices in Europe ...
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- Tags:
- Forex
- FOREX-Dollar
- Aversion
June 10 2009, 2:18pm | Comments »
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SEC, CFTC Charge 2 Calif. Men, Companies In $80 Million Ponzi Scheme
... Calif., and Son, the chief executive, and Chung, chief financial officer, with allegedly running a forex scam. The CFTC complaint also named Son's wife, ...
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June 10 2009, 1:05pm | Comments »
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Currency Correlation with Stock Market Remains Intact | Forex Blog
Part of what makes a good currency trader is discerning which of these scenarios accurately describes the current reality in forex markets, so that a viable forecast and trading strategy can be implemented. Scenario 1 suggests that if ...
Forex Blog - http://www.forexblog.org/
- Tags:
- Forex
- Correlation
- Currency
June 10 2009, 12:53pm | Comments »
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FOREX-Dollar eases as risk sentiment improves
By Tamawa Desai LONDON, June 10 (Reuters) - The dollar eased on Wednesday as investors shifted from the US unit toward perceived riskier and higher-yielding ...
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- Forex
- FOREX-Dollar
- Sentiment
June 10 2009, 11:57am | Comments »
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Daily Forex Tips - June 10th 2009
8:30 GMT: GBP - Manufacturing Production - This indicator reflects the change in the total inflation-adjusted value of output produced by manufacturers. - Manufacturing makes up around 80% of total Industrial Production and tends to dominate the market impact. - The release of this indicator typically creates volatile trading. - A stronger than expected result may continue to boost the GBP in the short-term. 12:30 GMT: USD - U.S Trade Balance - This indicator reflects the difference in value between imported and exported goods and services during the reported month. - Better-than-expected results may help the Dollar recover some of yesterday’s losses against some of its crosses such as the EUR and GBP. - If the results turn out to be lower than forecasts, the Dollar may record a fairly bearish session in today’s trading. - Traders should pay close attention to the market as there is an opportunity for traders to capitalize on the fluctuations which are likely to follow this release. Crude Oil tips: - Crude oil hit a 7-month high and closed above $70 yesterday (currently at $71.50) - Oil rose on increasing optimism that the world economy is emerging from recession. - Today, the release of the Crude Oil Inventories report is likely to help determine the market’s next direction for oil. - Traders are advised now to make some profits as the price of Crude Oil is set to remain volatile in the short-medium term.
June 10 2009, 11:46am | Comments »
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Crude Oil Soars As the USD Weakens
Many analysts yesterday had anticipated a slight decline in the price of Crude Oil considering the recent strength in the USD brought on by last week’s employment data. However, oil prices surprised many traders today as the price continued to climb above $70 a barrel to hit a 7-month high! As Geithner’s speech demonstrated a renewed push for economic recovery, and potential plans to raise interest rates in the US, there isn’t very stable ground around the common safe-haven investments. Traders should expect more volatility today. The U.S. Dollar weakened during yesterday’s trading session, correcting the sharp gains against the EUR and GBP seen earlier this week. This occurred as investors questioned whether the economy had improved enough to justify talk of higher U.S. interest rates by year end. By yesterday’s close, the USD fell sharply against the EUR, pushing the oft-traded currency pair to 1.4060. The dollar experienced similar behavior against the GBP and closed at 1.6310. The dollar, which fell sharply in May, rallied late last week after data showed U.S. employers cut fewer than expected jobs last month, but that move fizzled yesterday as analysts warned the U.S. economy still faced a rising jobless rate. There was a quiet day of news from the U.S. as there were no major economic data releases on the calendar yesterday. However, U.S Treasury Secretary Geithner spoke about the state of the U.S. economy. He pointed out specifically that Barack Obama will unveil a new model for regulation of financial institutions next week which might affect the dollar. Overall, investors remained wary of making big bets in favor of the dollar these days, especially as they re-thought the chances of a Fed rate increase later this year. Looking ahead to today, there are several important news releases coming out of the U.S. These include the Trade Balance and Crude Oil inventories at 12.30 GMT and 14:30 GMT, respectively. Better-than-expected results may help the Dollar recover some of yesterday’s losses against some of its crosses such as the EUR and GBP. On the other hand, if the results turn out to be lower than forecast, then the Dollar may record a fairly bearish session in today’s trading. Traders should pay close attention to the market as there is an opportunity for traders to capitalize on the fluctuations which are likely to follow these releases.
June 10 2009, 11:43am | Comments »
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Daily Forex Analysis - June 10, 2009
Being contained by 1.3793 support, EURUSD rebounds from 1.3804, suggesting that a cycle bottom is being formed on daily chart. However, a break of 1.4338 ...
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June 10 2009, 10:57am | Comments »
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French industry output data much worse than expected
French April industry output fell a hefty -1.4% m/m, much worse than expected, versus median forecast of -0.2%. Data has dented risk appetite a little, with EUR/USD falling back below 1.4100 to 1.4085 at writing. Cable is back below 1.6400 at 1.6395.
June 10 2009, 9:48am | Comments »
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Forex and Financial Market Update 9 June 2009
Higher-yielders in the Forex market were not the only beneficiaries of crude's strong gains as the S&P 500 and gold also managed to close the in the green. ...
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June 10 2009, 9:47am | Comments »
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Cable continues higher
Cable is doing a good impression off the duracell bunny, just seems to keep on going. Presently at 1.6415. Next technical resistance now at 1.6430/35. Risk appetite in fine fettle. S&P futures up at high of day, up around 8 points.
June 10 2009, 9:44am | Comments »