Forex Trading TV Video Blog

As we wrap up 2007, the greenback finished up the last week of the year, similar to how it started it; at a loss. A flurry of negative economic data has ransacked any chance that the dollar might have had, to recover against its major counterparts before the year's end. Friday was no different, as New Home Sales figures came back lower than the already disappointing expectations. Chicago PMI numbers, which focus on manufacturer purchases, returned with positive results but could not revive the dollar's momentous drop following housing sales num... ( read more )

Yesterday saw the release of the Durable goods figures from the US. As the slowing US economy continues its direction, there was little hope that Novembers Durable goods numbers would surprise on the upside. Initial expectations had goods making a modest growth of roughly 3%, however the reality was only 0.1%. After steady declines over the last four months, some had hoped that the lethargic US economy might get some sort of boost. Instead, durable goods came back disappointing and once again the greenback began to tumble. The dollar found itse... ( read more )

Yesterday most of the global financial markets were still closed for the observance of the Boxing Day holiday. Therefore there was very low liquidity in the Forex market, as many key market players were unavailable to trade. Nevertheless, there was some sharp volatility mainly involving the greenback versus the EUR and JPY. The main news yesterday was the release of the National Home Price Index Composite-20, which measures the annual change in the average price of a single-family home in 20 metropolitan areas. This Index was expected to releas... ( read more )

The USD gained for a 2nd straight week against the EUR as accelerating inflation encouraged traders to reduce bets that the Fed will cut its target lending rate of 4.25% at its next months' meeting. Meanwhile, the U.S. Commerce Department report spurred concerns that the most successful shopping season in 5 years may have already pushed the economy into a recession. According to the report, the U.S. consumers spent more than they had made during the month of November. This caused Personal Savings to dip into negative territory for the first ti... ( read more )

Yesterday the US dollar continued its bullish movement against most of the major currencies. The dollar strengthened mainly against the EUR and the GBP especially after the ECB reported that inflation risks remain on the upside. While the British are experiencing a drop in inflation after their recent rate cut as indicated by yesterday's lower CPI figures, which could now also be a concern. The EUR was traded on $1.4360 against the US dollar during the early trading hours in Europe, down from $1.4390 in New York late Wednesday, and has reached ... ( read more )