The USD's volatility is set to continue today as forex trader's eye Federal Reserve Chairman Ben Bernanke's speech as 6 GMT. In the meantime, however, it would be a wise move for investors to open some important positions as they can take advantage of the forex market prior to and after this main news event. Key economic data releases from the leading economies should also be a vital inspiration for traders today.
The U.S currency continued to slip against the EUR yesterday, dropping 1% to as low as 1.3950. It also dropped to its lowest thi... ( read more )
Archive for May, 2009
May 20, 2009 - Economic Growth Boosts Global Optimism, USD May Rise
These past several weeks have seen a series of positive economic data emerging from various economies. Even a record contraction in Japanese GDP was anticipated and the market impact was minimal. As market optimism takes hold, safe-haven assets such as the USD begin to weaken. Traders have witnessed recently as the greenback has lost strength to most other currencies, and commodity prices have begun to climb back to 2007-2008 price levels. Is the recession coming to an end?
The U.S Dollar declined Tuesday against its major counterparts afte... ( read more )
May 19, 2009 - The USD Falles as Stock Market Rallies
An increase in optimism led by a bullish stock market as well as positive comments made by U.S. Treasury Secretary Timothy Geithner yesterday led to an increased demand for riskier currencies. Expect a busy news day today, with important news coming from the U.S, Euro-Zone and Japan.
The Dollar declined against most of its currency pairs as the U.S. stock market rallied in yesterday's trading. The rally was sparked by positive comments by U.S. Treasury Secretary Timothy Geithner in which he changed his views as he voiced his opposition agai... ( read more )
May 18, 2009 - A Busy News week A Head; High Volatility Expected
The dollar was slightly more volatile over the past week than usual, and the explanations for this have been getting trickier by the day. As for this week, forex traders are advised to take positions on trades, as a string of data releases coming out of Europe and Japan are likely to affect the greenback's main currency crosses.
The USD has experienced a positive day of trading during the today's early morning hours. Closing last Friday slightly up versus the majority of its currency pairs and crosses, the USD continued this bullishness and... ( read more )
Crude Oil Prices Goes Up on Weak Dollar
Oil prices reached over $49.50 a barrel yesterday, an increase of a whopping 4%. It seems that the OPEC production cuts have worked. Traders should also take into account that the Crude prices were also fueled yesterday by bullish stock markets and a weak Dollar. The price of Crude Oil is only likely to increase further today if the U.S. and Euro-Zone continue to show optimism, and the Dollar continues its bearish run.
The U.S. Dollar plummeted considerably versus its major rivals on Thursday. This was amid uncertainty about the economic ou... ( read more )