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Rising Risk Appetite Causes Volatile Shifts in Forex Market
The euro zone's fundamental data have lately been showing growing weakness in the region as global industrial production begins to slow on Japan's nuclear crisis and soaring oil prices. Monetary policy adjustments have many currencies trading more volatile than they have been recently. The British pound has experienced a few price swings and the move into and out of carry trades has made trading the Swiss franc, Japanese yen and even US dollar more unpredictable.
Economic News
USD - Retail Sales Data Boosts USD
The US dollar gained some ground yesterday as positive figures from the retail sales data and poor fundamentals out of Europe helped drive investors into the greenback. The more volatile reading from general retail sales, including automobiles, showed only a 0.4% growth whereas ...
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Declining Price of Commodities Pulls Down on Stock Market
The most pressing concern in the commodities market lately has been a fear that the global economy cannot sustain sufficient growth with oil prices reaching above $100 a barrel. Investors witnessed the price of oil drop from as high as $113 last week to around $106.50 this morning. But adding into this downturn was a weakness in raw-materials prices seen over the last two trading days that inflicted pain on the stock market yesterday as commodity-linked companies felt losses as a result of this decline.
Economic News
USD - US Dollar Suffers as Fed Budget Balance Falls Short of Expectations
The US dollar's short-term bullish run seems to have met resistance following the release of the US Federal Budget Balance yesterday at 19:00 GMT. The EUR/USD fell to as low as 1.4377 by mid-day on ...
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US Dollar Gains after FOMC Statements Monday
The greenback's latest reprieve may be partially explained by a relaxation in demand for commodity-linked currencies, like the Aussie and Canadian dollars. Moreover, a series of dovish statements from members of the Federal Open Market Committee (FOMC) have actually helped boost the dollar as the Fed's monetary policy appeared relatively more stable than recent policy moves in Europe have suggested.
Economic News
USD - USD Positive as FOMC Members Make Dovish Statements
The US dollar climbed against a number of its currency rivals in today's trading. The EUR/USD fell from its recent high of 1.4484 to as low as 1.4399 in yesterday's trading, while the GBP/USD moved from its latest peak of 1.6427 to 1.6303.
The greenback's latest reprieve may be partially explained by a relaxation in ...
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Yen Hits New 11-Month Low against Euro
The JPY started off the week by falling to a fresh 11-month low against the euro, as positive global data has led to increased risk taking among investors. After hitting 123.30 during the overnight session, the EUR/JPY has since dropped to its current level of 122.50. With little in the way of significant news from either the euro-zone or Japan scheduled for today, traders can expect the current trend to continue.
Economic News
USD - USD Sinks against Majors
The US dollar dropped against most of its major currency rivals during last week's trading session. The greenback fell about 300 pips vs. the euro and the EUR/USD pair reached as high as the 1.4450 level, marking a 16-month high. The dollar fell about 250 pips against the British pound as well.
The dollar's decline in 2011 was ...
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Three Important Consequences for the Return of the Carry Trade
It started in Asia. Now it’s spread westward to Europe. And before it’s all over, it might even reach the United States.
Swine flu?
No. “It” is rising interest rates and an end to the free flow of easy money that flooded the globe in response to the 2007-08 financial crisis. The world’s monetary mandarins are deciding, one by one, that it’s time to close up the spigot, if only a little.
It began last October, when China raised interest rates. Three more increases have followed, the most recent on Tuesday.
In Europe, despite an agreement to bail out Portugal to the tune of some $100 billion, the European Central Bank (ECB) voted this morning to bump up its benchmark lending rate for the first time since July 2008 — from 1% to 1.25%.
“Central banks increase interest rates when they want ...
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EUR/USD Hits 15-Month High Following Rate Hike
Following the widely expected euro-zone interest rate hike yesterday, the euro hit a fresh 15-month high against the dollar, peaking at $1.4400. Meanwhile, the yen resumed its recent bearish behavior during the overnight session and lost over 50 pips against the dollar before staging a correction. Currently the USD/JPY stands at 85.02.
Economic News
USD - Dollar Drops on Renewed Risk Appetite
The U.S dollar fell against most of its major currency rivals yesterday, hitting its lowest level in nearly a week against the EUR, as gains in commodities prompted investors to wade into riskier currency trades. By yesterday's close, the USD fell against the EUR, pushing the oft-traded currency pair to 1.4400. The dollar experienced similar behavior against the GBP and closed at 1.6385.
The ...
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Investors Eagerly Awaiting ECB Rate Decision
The euro took some mild losses against the yen and US dollar during the Asian session ahead of today's euro-zone Minimum Bid Rate, scheduled to be announced at 11:45 GMT. The European Central Bank is widely expected to raise interest rates, a move which will likely help the EUR turn bullish once again to close out the week.
Economic News
USD - Dollar Remains Bearish Against European Currencies
While the US dollar was able to eke out small gains against most of its main currency rivals in overnight trading, the currency remained bearish overall ahead of a key decision from the European Central Bank later this morning. It is widely assumed that the ECB will hike euro-zone interest rates up to 1.25%, a move which is likely to send the EUR/USD pair soaring. In addition, the dollar has ...
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Dollar Rallies As Bernanke Announces He’s Doing His Job
Last night was a stinker of a night, as Big Ben Bernanke decided to do a Bullwinkle and pull a rabbit out of his hat, and tell an audience that “inflation must be watched extremely closely.” Like that’s something new! UGH! Shouldn’t a central bank (that is, if you really feel one is needed) would be “watching inflation closely at all times”? So, he was telling people that he was doing his job, and the markets took it as some great indication that interest rates will rise in the US sooner than expected… Really? And this “new thought on rates” comes from what Big Ben said last night? Really? Well, I’ll be a monkey’s uncle!
Folks, this is nothing more than a tempest in a teapot, and the markets will realize that sooner or later they have egg all over their face, and that interest rates aren’ ...
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RBA Keeps Interest Rates on Hold
As expected, the Reserve Bank of Australia held rates steady at 4.75% in light of the natural disasters in the region and RBA Governor Glenn Stevens will speak later today regarding future Australian monetary policy. In the New York session, traders will be looking for positive results from the ISM services survey and the previous Fed meeting minutes.
Economic News
USD - Federal Reserve in Focus
In quiet trading yesterday the dollar was mixed as a lack of any large scale news events kept the majors in tight ranges. In a closely followed speech late yesterday, Fed Chairman Ben Bernanke said policy makers must follow inflation closely in order to distinguish increasing costs driven by rising commodity prices that are not temporary in nature. Bernanke also noted that if inflation ...
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