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Forex - In Depth Currency Analysis: 10/21/2010
USD Reverses Gains, Dropping versus Most Currency Counterparts
Thursday, 21 Oct 2010
The USD fell yesterday, reversing Tuesday's gains, as the knee jerk reaction to china's small interest hike subsided and a renewed interest in growth linked currencies such as the EUR and Australian Dollar reemerged. The dollar was put under further pressure as the release of the Beige Book showed continued weakness in the U.S economy, intensifying expectations of renewed quantitative easing measures by the Federal Reserve. The dollar plunged to a new 15-year-low against the yen, falling to a low of Y80.84, before recovering to around Y 81.08.
The USD briefly rallied during today's overnight trading after comments by Treasury Secretary Timothy F. Geithner to the WSJ, reiterating his support for a ...
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USD Reverses Gains, Drops against Major Counterparts
The U.S. dollar on Wednesday gave back most of the gains against major counterparts, dropping against the EUR and felling to a 15-year low against the Japanese yen, as the knee jerk reaction to China's interest rate hike subsided.
Economic News
USD - USD Reverses Gains, Dropping versus Most Currency Counterparts
The USD fell yesterday, reversing Tuesday's gains, as the knee jerk reaction to china's small interest hike subsided and a renewed interest in growth linked currencies such as the EUR and Australian Dollar reemerged. The dollar was put under further pressure as the release of the Beige Book showed continued weakness in the U.S economy, intensifying expectations of renewed quantitative easing measures by the Federal Reserve. The dollar plunged to a new 15-year-low against the ...
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Forex - In Depth Currency Analysis: 10/20/2010
USD Gains Big Following Surprise Chinese Rate Hike
Wednesday, 20 Oct 2010
Yesterday, the dollar saw significant gains against virtually all of its main currency rivals, following a surprise Chinese interest rate hike that led to increased risk aversion among investors. The dollar was able to gain approximately 300 pips against both the euro and UK pound. Currently the EUR/USD pair is trading around the 1.3755 level, while the GPB/USD pair stands at 1.5715. While the greenback initially made gains vs. the fellow safe-haven yen, the USD/JPY pair has since fallen and is currently around the 81.30 level.
Analysts are unsure regarding how long the USD will be able to maintain these gains. Any future moves by China to tighten economic ...
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Will the USD Be Able to Maintain Yesterday's Gains?
Following yesterday's volatile trading session, in which the US dollar gained around 300 pips against the euro, analysts are questioning whether the dollar gains were a temporary occurrence or the beginning of a larger trend. Today, news out of the UK and Canada will likely determine which direction the market moves.
Economic News
USD - USD Gains Big Following Surprise Chinese Rate Hike
Yesterday, the dollar saw significant gains against virtually all of its main currency rivals, following a surprise Chinese interest rate hike that led to increased risk aversion among investors. The dollar was able to gain approximately 300 pips against both the euro and UK pound. Currently the EUR/USD pair is trading around the 1.3755 level, &# ...
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Technical analysis of the GBP/USD pair on October 19th, 2010
Commentary of the GBP/USD pair :
1.5850 acted as support on the pair but 1.5933 has not been broken. Currently, the pair is testing the lower band of its bullish channel. If the support at 1.58 is broken, we could trade short positions. However, a return above 1.5870 will give a buy signal. We will then advise to trade only long positions as far as the pair is moving into its bullish channel.
See the previous analysis of the GBP/USD pair of October 18th, 2010
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Forex - In Depth Currency Analysis: 10/18/2010
Dollar Falls For the Fifth Week in a Row
Monday, 18 Oct 2010
The U.S. dollar saw an extremely volatile session during last week's trading. The currency began last week with a bullish trend against most of the major currencies, including a 200 pips gain against the euro and the British pound. By midweek the dollar erased all its gains, and even reached fresh lows against the majors. By the time the weekend arrived, the dollar had corrected some of its losses, but still closed with modest losses.
The greenback declined last week due to speculations that the Federal Reserve will further ease monetary policy, debasing the dollar. In addition, several disappointing economic releases were published in the U.S. last week. The trade deficit widened more than forecasted in September. The gap ...
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Can The Dollar Extend Friday's Recovery?
Despite Friday's recovery, the U.S. dollar fell for the fifth consecutive week against most of the major currencies. As several releases from the U.S. economy are expected today, the main question is whether the dollar is on its way to erase last week's losses, or will the greenback drop for the sixth week.
Economic News
USD - Dollar Falls For the Fifth Week in a Row
The U.S. dollar saw an extremely volatile session during last week's trading. The currency began last week with a bullish trend against most of the major currencies, including a 200 pips gain against the euro and the British pound. By midweek the dollar erased all its gains, and even reached fresh lows against the majors. By the time the weekend arrived, the dollar had corrected some of its losses, but still closed with ...
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Investors eye FX wars and budget cuts
(Reuters) - Political rows over currencies and a harsh dose of fiscal austerity are set to test financial markets in the coming week, just as investors appear to be settling in for a solid end-of-year stock rally.
The G20 finance meeting in South Korea at the end of the week is likely to be dominated by disagreements over foreign exchange rates, with implications for global investment flows well beyond currencies.
Japan's unsuccessful struggle to date to keep its yen competitive, for example, is one of the roots of its stock market's massive underperformance this year.
Britain's spending review on Wednesday, meanwhile, is also likely to be watched closely given its billing as one of the most detailed expositions of fiscal austerity plans in a Group of Seven country to date.
Both come ...
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Forex - In Depth Currency Analysis: 10/15/2010
USD Values Likely to Be Influenced by Bernanke Speech
Friday, 15 Oct 2010
After plummeting to record lows against its main currency rivals in early morning trading yesterday, the greenback was able to stage a recovery and recoup some of its losses. The USD/JPY pair hit its lowest point since April 1995 yesterday, when it dropped to the 80.88 level. While a correction did take place, investors continue to closely monitor the pair for any surprise moves. A similar trend occurred with the USD/CHF pair. After dropping as low as 0.9460, the cross was able to steadily increase throughout the day, and is currently trading around the 0.9550 level.
Today, investors will be paying close attention to a speech from the Fed Chairman, set to take place at 12:15 GMT. Any hints as to when, and to what ...
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