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Slow Forex Night as Holiday Markets Thin
Wednesday, December 23, 2009 - 7:13am | 197Read More...The EURUSD has traded mainly sideways during the night posting 1.4250 presently(see hourly chart). With the Tokyo market closed, the dollar has remained well-bid amidst a background of very thin trading. Analysts are pointing out that a EURUSD break of $1.4194 could lead to further weakness with...
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Dancing in the Streets following Dollar Housing Help
Tuesday, December 22, 2009 - 6:53pm | 149Read More...The US Dollar powered on today with The EURUSD falling to lows of 1.4220 and the USDYEN climbing to 91.80. This movement was a reaction to a very positive US existing home sales figure which surged to 7.4% against an expected 3.3% increasing the prospects of an early US interest rate rise. This...
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December Surge of the US Dollar Continues
Tuesday, December 22, 2009 - 8:42am | 230Read More...The EURUSD has commenced a fresh drop in the last couple of hours from overnight highs of 1.4330 to its present level of 1.4280(see hourly chart). This new movement appears to have been caused by the market’s positive anticipation of US growth and the Greek credit downgrade by Moody to A1. The...
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Unacceptable Greek Bonds Could Be Euro’s Next Demon
Monday, December 21, 2009 - 7:03pm | 169Read More...The US Dollar has had another good day by forcing the EURUSD down to its present value of 1.4270 and the USDYEN to highs of 91.20. The greenback gained support from traders taking profits before the year end as well as the market perceiving that a stronger US recovery could warrant higher US...
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Some Basic Features of Forex
Monday, December 21, 2009 - 5:26pm | 519Read More...Forex, unlike the Stock Market, has no centralized exchange and all its transactions are conducted on the Interbank Market or OTC (over the counter) via phone or electronic networks. Fundamentally, there are two main trading sources that comprise the daily Forex turnover. The Foreign trade...
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ECB Says Euro is Overvalued
Monday, December 21, 2009 - 5:17pm | 194Read More...The EURUSD rose to highs of 1.4370 this morning as a result of an increase in risk appetite before crashing back by over 100 pips to 1.4265 in the last hours(see hourly chart). This latest Euro decline seems to be due to the sizeable pressure being exerted on single currency by the number of...
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187 Billion Hiccup Upsets Euro Cheer
Sunday, December 20, 2009 - 3:20pm | 236Read More...After dropping to lows of 1.4265, the EURUSD finished the week by climbing back to 1.4330(see chart) after Germany posted an improved IFO Business Confidence index at 94.7, the highest reading since July 2008. More worrying though, was a statement released by the European Central Bank advising that...
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Calmer Night Permits Forex Rest
Friday, December 18, 2009 - 9:44am | 191Read More...Improvements in risk appetite allowed the EURUSD to rise overnight from its oversold levels to highs of 1.4400 before retreating back down to 1.4340(See Chart). The dollar gave ground to most of the other majors although it did climb against the Yen to its present value of 90.40. Earlier this...
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Oversold Euro Due for Correction
Thursday, December 17, 2009 - 7:51pm | 124Read More...The Euro has weakened further today with the EURUSD dropping to lows of 1.4305. The dollar, in fact, benefited from safe haven flows, in general, by rising against most of the other major currencies. For instance, the USDYEN achieved highs of 90.35 before retracting to its present value of 89.75....
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Participants in the Forex Market
Thursday, December 17, 2009 - 3:13pm | 407Read More...The participants in the forex market are: Banks: They are the principal players in the currency market. The role of banks in the forex market mainly encompasses: • Employing traders to trade on the banks’ proprietary accounts to generate profits. • Acting on behalf of customers to buy or sell...
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Why Trade Forex?
Thursday, December 17, 2009 - 9:39am | 598Read More...The main reasons for embarking in a new business adventure are to improve your earning power and enhance your lifestyle. So, is trading Forex Market a good choice? Yes, it is because the opportunities of achieving good profits are very real. However, caution is advised as Forex is a gigantic entity...
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Some Brave Soul Needs to Tell Us the Truth
Thursday, December 17, 2009 - 9:36am | 266Read More...The dollar again surged against the Euro overnight with the EURUSD hitting lows of 1.4325 before limping back to its present value of 1.4355( See Chart). The EURUSD has now fallen about 850 pips in 2 weeks to lows not seen since the first week in September. The pressure on the Euro is increasing...
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EURO Holds its Own After Fed Decision
Wednesday, December 16, 2009 - 7:25pm | 98Read More...After the Fed unanimously voted to keep its interest rate near zero and reaffirmed that they will keep it low for an extended period, the EURUSD plunged to lows of 1.4505 before bouncing back to its present value of 1.4530. Also during the day, Greece’s credit rating was cut again with threats of...
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Recovery Dances with Fragile US Improvement
Wednesday, December 16, 2009 - 10:12am | 270Read More...Whilst awaiting the FOMC decision at 2.15pm EST and subsequent policy statement, the EURUSD has rallied to its present value of 1.4550(see chart). The consensus opinion is that the Fed will hold its interest rates at zero for an extended period. However, some experts believe that the fiscal...
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Are We Revisiting Austria's 1931 Banking Nightmare?
Tuesday, December 15, 2009 - 7:07pm | 181Read More...The US Producer Prices posted earlier today showed a rise of 1.8% in November which is the largest increase in 3 months. The Dollar benefited from this release by raising against most of the other majors. The market now perceives that, after the release of this additional good result, the FED...
