As world stocks leveled off yesterday, currencies felt mixed results. Summarizing yesterday, we can say that the GBP lost, the EUR gained, the JPY gained more, and the USD was mixed. These trends may crystallize after today's CB Consumer Confidence report in the US, however. [caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]
Commodities experienced a short jump before starting a free-fall yesterday – Gold and Silver especially, as they experienced a full retracement of Friday's sharp gains. C... ( read more )
Archive for August, 2009
August 24, 2009 - Will the USD Bearish Move Continue this Week?
Last week marked a sharp drop in the Dollar's value, especially against the EUR and the CHF. The biggest question for this week is whether the Dollar will continue to see bearish trends against the major currencies, or reverse. It seems that the upcoming data from the U.S. economy will play a main role in this week's trading, and traders are advised to follow these main publications closely. [caption id="attachment_1822" align="alignright" width="128" caption="The Greenback Continues Its Bearish Move"][/caption]
The positive homes sales and ... ( read more )
August 24, 2009 - Daily Forex Tips – August 24th 2009
The European currency experienced a very bullish session last week. The EUR gained significantly vs. a number of its most traded currency rivals. This includes the USD, GBP and the JPY.[caption id="attachment_1818" align="alignright" width="128" caption="Daily Forex Tips"][/caption]
Crude Oil also went through a turbulent, but bullish trading week. The commodity has risen by over $5 since last week's opening, and now stands at $74.30. Today, Crude is set to key again as traders eye a weak USD to push-up Crude prices.
Today's Key Releases... ( read more )
August 21, 2009 - Volatility Expected Today on US Homes Sales and Bernanke...
The U.S. Dollar is expected to go volatile today on U.S. Homes Sales data and the speech by Federal Reserve Chairman Ben Bernanke at 14:00 GMT. Bernanke is expected to discuss the economic crisis and recovery. With regards to the home sales data, the figure is expected to rise to 5.03 million, up from the previous figure of 4.89 million. Forex traders should follow both of these events closely as they are set to determine the USD's main crosses for Friday's trading. [caption id="attachment_1866" align="alignright" width="200" caption="Bernanke ... ( read more )
August 21, 2009 - Daily Forex Tips – August 21st 2009
Several important economic indicators are expected today from the U.S and Euro-Zone that will likely set the trend for the EUR/USD for the start of next week. Also Fed Chairman Bernanke is set to testify today, which is likely to cause some market volatility, although most likely intensifying trends already set by the economic data as apposed to setting new ones. Movements in global stock markets will continue to have major affects on currency movements and particularly on Oil prices. [caption id="attachment_1809" align="alignright" width="293"... ( read more )