After depreciating consistently over the past month, the USD is now traded over 1.39 against the EUR, and over 1.64 against the GBP. This week on Wednesday, the Federal Reserve is expected to deliver an Interest Rates statement, and is widely expected to leave it on 0.25%. However, any change that might take place is prone to sow disorder in the market, and forex traders should be ready for it.
The encouraging homes sales and manufacturing figures from the U.S. last Thursday helped boost confidence in the USD against the EUR. However, the be... ( read more )
Archive for June, 2009
June 19, 2009 - Daily Forex Tips – June 19th 2009
Market Expects Low Volatility Today
There is likely to be less volatility in the market today with almost no market moving data on tap from Europe and Unites States. Yet, the few fundamental events that are due out later today may indeed create a remarkable wave in the market, especially towards the late afternoon hours.
12:30 GMT: CAD - Canadian Core Retail Sales
- It reflects the change in the total value of sales at the retail level, excluding automobiles.
- The release of this indicator typically creates volatile trading.
- ... ( read more )
June 19, 2009 - USD Driven Higher By Feds Rate Outlook
The Philly Fed Manufacturing Index and a string of other positive U.S. data boosted the Dollar yesterday. This marks a turnaround for the U.S., as there is increasing optimism that the current recession will be over sooner than later. Now may be a good time for forex traders to enter the market as investors continue to profit from yesterday's bullish Dollar.
The U.S Dollar went bullish versus the EUR and Yen on Thursday after a report showing the number of continuing claims filed for jobless benefits during the first week of June fell more ... ( read more )
June 18, 2009 - The Greenback Weakens on Slow US Inflation Data
The market is set to go increasingly volatile today on the publication of U.S. Unemployment Claims at 12:30 GMT and the Philly Fed Manufacturing Index at 14:00 GMT, and Treasury Secretary Timothy Geithner's speech at 13:30 GMT . In turn this economic news will help determine the strength of the Dollar versus its major currency pairs going into end of week trading. In order to take advantage of the forex market now, traders are advised to start opening their USD positions now, prior to the release of this crucial data.
The Dollar fell for a ... ( read more )
June 17, 2009 - Daily Forex Tips – June 17th 2009
There are several important events coming out of the U.S. and Europe including the U.S Core CPI and Fed Chairman Bernanke's Speech. These events always provide for extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following these vital announcements.
12:30 GMT: USD - U.S Core CPI
- This indicator reflects the change in the price of goods and services purchased by consumers, excluding food and energy.
- The release of this indicator typically creates volatile trading.
- B... ( read more )