With yesterday's sudden drop in global stock markets, the demand for safe-havens such as the USD and JPY returned temporarily, pushing those two currencies to 2-week highs against their rivals. However, during today's early morning hours, this trend has reversed, implicating a return to risk appetite ahead of today's inflation and economic sentiment reports from Europe.[caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]
Key Events:
9:00 GMT: EUR – German and Euro-Zone ZEW Economic Sentiment... ( read more )
Archive for August, 2009
August 17, 2009 - The USD Recovers after US Consumer Confidence Falls
The U.S. dollar gained versus the EUR but extended losses against the Japanese yen on Friday after the U.S. consumer sentiment index unexpectedly declined in early August. The data pushed U.S. stocks lower, aiding the Dollar which has tended for months to move in the opposite direction as equities as investors' willingness to buy riskier assets fluctuates. Traders said that the risk aversion is back with the U.S dollar strengthening against the EUR and British pound but weakening against the Japanese yen. [caption id="attachment_1822" align="al... ( read more )
August 17, 2009 - Daily Forex Tips – August 17th 2009
The Greenback Strengthens as Crude Oil Declines
Close to the weekend, the market trend reversed as the Dollar recovered almost all its weekly losses against the EUR. This means that traders who missed out on this trend may now have their last chances to enjoy some of its last movements.[caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]
In addition, and as a direct impact of the Dollar's bullish trend – Crude Oil is dropping below $69 a barrel. Currently it seems that for as long as the Dol... ( read more )
August 14, 2009 - Daily Forex Tips – August 14th 2009
The USD Continues to Fall
Yesterday's trading continued to be extremely volatile, and the major currencies continued to fluctuate within a very high range. However, the better-than-expected figures form the Europe's leading economies (Germany and France) helped push up the EUR vs. the USD. The more signs that the world is pulling out of recession; larger changes are likely to take place in the forex market.[caption id="attachment_1818" align="alignright" width="128" caption="Daily Forex Tips"][/caption]
As for today's trading, inflation r... ( read more )
Forex Signal – The New Zealand Retail Sales
There is a great opportunity for Forex traders to trade the upcoming New Zealand Retail Sales, here is a great video that explains a bit about the event:
Source: Forexyard
