The market appears dominated by rising confidence in Europe mixed with poor economic data. Despite negative reports, consumer optimism is on the rise. This has led to an increase in risk appetite which in turn boosts higher yielding currencies such as the EUR and GBP. These pairs are set to run the market today!
6:00 GMT: GBP - Nationwide HPI:
- Measures the change in the selling price of mortgage backed homes.
- Leading indicator for the health of the housing industry.
- As the housing industry was the most hurt during the financ... ( read more )
Archive for June, 2009
June 30, 2009 - The USD Plummets as Wall Street Rallies
An extremely bullish day for the equity markets pushed investors back to riskier assets and away from the safe haven USD and JPY, causing them to plummet against their riskier counterparts. The rally in equities along with a weak Dollar has also helped push Oil prices above $73 for the first time in over a week. Today's numerous economic data releases from the U.S, Euro-Zone and Japan promise another volatile trading day and will help determine if the current trends will continue throughout the week.
The Dollar plummeted against the major cu... ( read more )
June 29, 2009 - US Open Update: The Greenback Losses Strength on All Fro...
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The USD witnessed a steady depreciation against most of its major currency counterparts during the morning trading session. The Dollar is currently trading lower against the GBP by nearly 90 pips at 1.6570. It is also trading lower against the EUR and JPY, as investors remain wary of making big bets in favor of the Dollar these days.
Crude Oil Prices have been steadily recovering from a plunge during the early trading hours when prices reached a low of $68.50 a barrel, slowly reaching back to the $70 level. However, as was evidenced in the p... ( read more )
June 29, 2009 - The USD Rises on Reserve Currency Debate
After falling broadly late last week, the U.S dollar regained some ground on Monday as the market is watching cautiously to see if China will keep making comments on the reserve currency. China's central bank did not mention the Dollar by name on Friday but said it was a serious defect in the international monetary system that one currency should dominate.
Debate about an alternative international currency has heated up in recent months and central bankers gathering in Basel this weekend also discussed the dollar's role. Still, the dollar wi... ( read more )
June 24, 2009 - EUR/USD – strong bullish signal – June 24th ...
There is a strong bullish signal on the EUR/USD – June 24th 2009 10:00 GMT
I am showing the technical formation in this video:
