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Archive for November, 2008

The release of GDP Figures Today is expected to Add Down...

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By Forextvblog on November 25, 2008 -
Forex TV Blog
Forex traders anticipate the U.S. Dollar to continue to drop vs. the EUR in response to the Citigroup bailout plan. Traders have boosted their money into more volatile currencies, such as the EUR and JPY as they see the safe haven Dollar less attractive. The Dollar extended its losses for a second day against the EUR and a basket of major currencies as Forex traders are anticipating a drop in the U.S. Preliminary GDP figures that will be released today at 1.30pm GMT time. On Monday the USD traded at $1.2953 per EUR at 4pm GMT time. This help... ( read more )

November 24, 2008 - Forex Trading on USD Shows some Stability

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By Forextvblog on
The past week has proven that the greenback is consolidating at its current levels against the major currencies. However, the USD is constantly attempting to break through these current levels and it appears that a bullish breach seems far more likely than a bearish one. Last week was filled with negative data from the U.S economy. The Producer Price Index (PPI) dropped for a third month in a row, landing on -2.8%, proving that consumers in the U.S are in a slump. The Building Permits survey dropped to a mere 0.71 million new permits that we... ( read more )

November 21, 2008 - The USD Rallies Despite Positive US Unemployment Claims

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By Forextvblog on
Yesterday, the Dollar gained as investors withdrew from emerging-market assets to the safety of U.S. government debt, in what is set to be the worst financial crisis since the Great Depression. However, while the greenback has appreciated against high-yield currencies, it fell against the Yen. Yesterday's U.S. jobless data intensified concerns and signaled more trouble for the labor market, which has shed more than 1 million jobs so far in 2008. The report showed that the number of Americans filing for first time jobless benefits spiked to 542,... ( read more )

Why is the USD Getting Stronger?

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By Forextvblog on November 20, 2008 -
Forex TV Blog
It has been about 4 months since the USD began appreciating with no apparent stops, and several of our traders are finding themselves a bit confused in light of these radical changes. Let’s try to understand what the main reasons are for this turn of events, and also a special bonus – how you can predict sharp reversals using technical measurements. Well first, let us understand something. When you hear on the news that the Dollar is gaining strength, it usually mean that the EUR/USD pair is sliding, as this pair is the main gauge for... ( read more )

November 20, 2008 - The Greenback Continues to Trade Choppy Range

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By Forextvblog on
The USD experimented with a choppy trading session against its main currencies rivals yesterday, amid a slide on worldwide stocks. The market fluctuations were conditioned by a fall on Wall Street, which saw stocks plunge to their lowest levels since 2003. There was also a fall in shares in the auto industry threatening bankruptcy in this vital sector of the U.S. economy. The USD recovered from its earlier losses and managed to rally against the EUR later in the day. It is now trading back under the 1.2500 level after being traded at a sessi... ( read more )
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