ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Yen Rose TodayTitle:
Euro dips after Trichet remarks, but dollar still seen wobbly
(Reuters) - The euro slipped on Tuesday after European Central Bank Governor Jean-Claude Trichet said he shares the view that a strong dollar is in the interest of United States, a comment taken by some market players as showing frustration over the dollar's relentless fall and also an attempt to talk up the currency.
Trichet also told two Finnish newspapers he does not see any significant second-round inflation, prompting traders to dump euro long positions against the dollar, although many traders think the dollar will remain under pressure from a perception that the U.S. central bank is far more reluctant to tighten its policy any time soon.
"I don't take it lightly that Trichet is talking about the dollar rather than the euro. European policymakers became alarmed when the euro rose ...
Title:
EUR/USD Anticipating Reversal?
As most investors eye Wednesday's monetary policy meeting by the US Federal Reserve, the possibility exists for the Fed to view the latest string of economic reports, particularly from the housing market, as a signal to release a hawkish assessment of the American economy. Consumer confidence has also risen lately and traders appear to be anticipating an uptick by the greenback against its Atlantic rival this week.
Economic News
USD - USD Hesitant Prior to Week's Fed Meeting
The US dollar has found itself in a position to rebound strongly in the days ahead if this week's policy meeting by the Federal Reserve produces a hawkish assessment. Most reports released at the end of last week had begun to call for a fast-paced injection of trading volume, deemed almost certainly to go towards ...
Title:
Swiss Franc Sets New Records on Continued Positive Sentiment
The Swiss currency reached a new all-time record against the US dollar and did well against the other major currency pairs today, as the market participants continued to base their positions on the positive monthly outlook report released earlier by the central bank of Switzerland.
The franc rose against the US dollar, breaking the record high level set on April 21 — the USD/CHF pair is in a constant bearish wave since June 2010. The Swiss franc also gained against the euro, following 3 days of rather directionless trading, and also outperformed the Japanese yen today. Traders are reacting to speculations that the country’s monetary policy may be tightened soon.
Swiss National Bank has released its April 2011 monthly statistical bulletin 4 days ago, demonstrating optimism in the country’ ...
Title:
Aussie dollar hits 29-year peak; Seoul shares shine
The Australian dollar hit a fresh 29-year high and South Korea's benchmark share index touched another record intraday high on Monday, suggesting investors were still eager to embrace risk and higher-yielding assets.
Commodities pushed higher with spot gold hitting a record high of $1,517.71 an ounce and U.S. silver futures scaling a 31-year peak.
The dollar edged up 0.1 percent against a basket of currencies to 74.086 .DXY, but remained within sight of a trough of 73.735 struck last week, its lowest since August 2008.
The dollar rose 0.4 percent against the yen to 82.22 yen, supported by dollar-buying by Japanese importers and as traders took aim at stop-loss dollar buying orders said to be lurking near 82.50 yen.
"The market is thin today because London is closed today, and people ...
Title:
Yen Down as Markets Await Dovish Words from BoJ
The Japanese is currently dropping against its major Forex counterparts, as the market professionals expect that the country’s central bank will have to lower its economic growth forecast and leave the monetary policy at its loose state.
The yen fell against the US dollar for the first day since Tuesday and declined against the euro and the British pound today. The Bank of Japan is having its policy meeting on April 28, where the Statement on Monetary Policy and Outlook for Economic Activity and Prices are to be released. The vast majority of the market participants expects that the interest rate will be left unchanged between 0 and 0.1 percent, while the GDP growth forecast for 2011 will get halved.
While the Japanese yen struggles with the consequences of the natural disasters and the ...
Title:
US Existing Home Sales Only Significant News Today
With Europe still on holiday in observance of Easter, today's markets will be highly illiquid, making most currencies continue to trade within tight ranges until the opening of trading on Tuesday. Tomorrow's news should be much more affecting on the region's currency values, but as for today traders may want to look to the USD for market direction with its impactful housing report scheduled for 15:00 GMT.
Forex Market Trends
EUR/USD GBP/USD USD/JPY USD/CHF AUD/USD EUR/GBP
Daily Trend
Weekly Trend
Resistance 1.4645 1.6595 83.10 0.8950 1.0819 0.8905
1.4622 1.6573 82.80 0.8925 1.0789 0.8882
1.4591 1.6540 82.48 0.8887 1.0755 0.8851
Support 1.4530 1.6480 81.85 0.8826 1.0690 0.8779
1.4499 1.6448 81.53 0.8790 1.0658 0.8747
1.4472 1.6425 81.32 0.8771 1.0635 0.8725
...
Title:
Aussie dollar hits 29-year high; Seoul shares shine
The Australian dollar hit a fresh 29-year high and South Korea's benchmark index touched another record intraday high on Monday, suggesting investors were still eager to embrace risk and higher-yielding assets.
Commodities pushed higher with gold hitting a record high of$1,513.70 an ounce and U.S. silver futures scaling a 31-year peak.
The dollar rose 0.3 percent against a basket of currencies to 74.197 .DXY, but remained within sight of a trough of 73.735 struck last week, its lowest since August 2008.
The dollar climbed 0.5 percent against the yen to 82.24 yen, supported by dollar-buying by Japanese importers and as traders took aim at stop-loss dollar buying orders said to be lurking near 82.50 yen.
"The market is thin today because London is closed today, and people are basically ...
Title:
Major currencies rise against the dollar, with the return of optimism to the markets
Major currencies rose against the yen and the dollar with the return of optimism to the market after U.S. housing data recovery better than expectations. On the other hand, Asian stocks rose to support the confidence of investors and to increase demand for high yielding currencies.
The euro started today's session with an incline against the dollar, as the pair trades around 1.4613 after recording the highest at 1.4620 and the lowest at 1.4514. The pair faces a resistance at 1.4680. The daily momentum indicators show the pair is heading to the upside.
The pound traded higher against the greenback, trading around 1.6469 after recording the highest at 1.6483 and the lowest at 1.6386. The pair faces a resistance at 1.6500. The daily momentum indicators show the pair is in an overbought area. ...
Title:
Pound Down vs. Euro, Up vs. Dollar & Yen on BoE Minutes
The Great Britain pound weakened today against the euro as investors reduced their bets on an interest rates hike after the release of the policy meeting minutes by the Bank of England. The currency gained versus the US dollar and the Japanese yen as the minutes pointed on some positive signs in Britain’s economy.
The Minutes of the Monetary Policy Committee Meeting spoke about unfavorable economic data that shows weakness of the UK economy. In particular, the consumer spending weakened as the household income decreased. There were also positive data, including the expansion of the manufacturing and services sectors. But the overall tone of the minutes was very cautions and it damped prospects for higher interest rates in the near future.
Analysts changed their forecasts, now predicting ...
|