The U.S. dollar has ceded further ground on Monday as concerns about the U.S. economy abated and broadly improved corporate earnings lifted risk appetite and regional stock markets. The weak U.S. dollar had traders pushing up commodity prices. Crude remained relatively steady above $64 a barrel, after rising 2.5% on Friday on positive U.S. housing data that revived hopes of a global economic recovery.
Last week the U.S dollar saw bearish trends against most of the major currency pairs. The Dollar dropped over 200 pips against the EUR and ove... ( read more )
Archive for July, 2009
July 20, 2009 - Daily Forex Tips – July 20th 2009
Crude Oil Reaches above $65 a Barrel
The leading investments in the market continue be the EUR and Crude Oil.
Crude Oil prices continue to rise, as a result of the positive data from the U.S economy. Housing data on Friday also supported crude prices, and now a barrel of oil is traded for over $65.
The EUR's bullishness seems to come mainly as a result of the weak Dollar. However, this week will be filled with publications from the Euro-Zone, and it looks like this week's leading force will be these publications.
The major news even... ( read more )
July 17, 2009 - US Building Permits Will Drive Trading Today
The forex market is set to go very volatile on the release of Building Permits data from the U.S. In turn, this is likely to be crucial in determining the Dollar's strength, as this week's trading comes to a close. If the results equal to or higher than the forecasted 0.52 million, then the USD may record a bullish trading session today. On the other hand, if the data is worse than forecast, then the Dollar could possibly fall against its major currency pairs. Traders are also advised to follow Crude Oil prices today, as sudden movements in thi... ( read more )
Crude Oil Rises the Most in 3 Weeks
Crude Oil prices remain steady at above $61 a barrel on Thursday, after gaining 3.4% in the previous session. Oil's gains on Wednesday came after the Energy Information Administration (EIA) showed a bigger-than-forecast drop in Crude supplies last week. And along with a weak U.S. dollar, which traded near a month low against major currencies, this supported the rally in Oil prices. Investors will be keenly watching the weekly U.S. jobless claims data due to be released later on Thursday, for a clue of a possible rebound of the world's largest e... ( read more )
