Today the U.S. economy is going to be in the driver's seat of today's market, whilst the Euro-Zone currency will take more of a backseat. Traders should pay close attention to the U.S. unemployment data and President Obama's economic reforms, as these 2 factors are expected to have the biggest impact on the optimism in the market in today's trading.
After Monday's surprising plummet, the USD appears to be regaining a level of its previous strength. Dropping as low as 1.3720 against the EUR and 1.5350 against the GBP, the greenback has gone ... ( read more )
Archive for May, 2009
May 13, 2009 - The USD Drops to a 4 Month Low
Growing optimism about the easing of the financial crisis is leading trading. Pay attention today to the releases of the Core Retail Sales and Crude Oil inventories to see if the trend continues. Positive news from the U.S and increase in the oil prices will further hurt the Dollar's appeal.
The dollar fell yesterday to a 4-month low against most of its major currencies, as growing optimism about the global economy boosted investors' risk appetite and curbed demand for the U.S. currency as a safe haven. The greenback hit a seven week low ag... ( read more )
May 12, 2009 - The Forex Market Volatility Calms as Equities Falter
The most notable event to take place in the forex market yesterday appears to have been the lack of any significant movement by the major currencies. As stock markets witnessed a downward correction yesterday, the forex world's latest series of volatile spikes came to an end and most currencies leveled-off. As market news today is anticipated to be much busier, this day of rest in forex may come to an end and we could see a return to the sharp movements witnessed at the end of last week.
The Dollar experienced a mild trading session in yest... ( read more )
May 11, 2009 - The USD Takes A Sharp Dive
Last week may have signaled a change in the Dollar's value against the major currencies. If you remember, the EUR/USD was traded almost at the 1.6000 level before the financial crisis outburst, and once it did, the EUR/USD dropped to almost 1.2200. The rally of all the major currencies against the Dollar could be the starting point for the idea that the forex market is finally correcting itself. Could we be seeing a return to market optimism?
Last week may have signaled a change in the Dollar's value against the major currencies, as the USD l... ( read more )
US Nonfarm Payrolls Report – On Tap
Today, traders should pay close attention to the release of the U.S. Non-Farm Employment Change report. This indicator always provides for extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following this vital announcement at 12:30 GMT.
The Dollar recorded some mixed results in yesterday's trading. However, the most notable result was the slide vs. the EUR. The Dollar's trading was dominated by a number of factors throughout the trading day. Earlier on, Thursday was dictated by po... ( read more )