Central Bank statements will be the dominant force in today’s trading, with the most influential being the FOMC meeting. Since these provide an outlook on the economy as well as discuss current conditions, central bank statements tend to have great influence on the currencies since they provide clues as to future monetary policy moves. [caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]
USD – FOMC statement 18:15 GMT
- A statement in which the Federal Reserve communicates to the public an... ( read more )
Archive for August, 2009
August 11, 2009 - The Greenback Rallies All Across The Board
Traders moving assets to safer, lower yielding currencies appear to be playing a factor in the correction of the major crosses. The USD and JPY, which are seen as a safer bet than others currencies in times of market stress, will likely keep drawing demand as investors stay away from riskier assets. [caption id="attachment_1814" align="alignright" width="128" caption="The Greenback Rallies"][/caption]
The U.S. Dollar extended its gains against the EUR and Pound yesterday. The Dollar Index, which tracks the USD vs. its 6 most traded currencie... ( read more )
August 11, 2009 - Daily Forex Tips – August 11th 2009
Yesterday, we saw dramatic moves for the Dollar, as the USD gained ground against the major currencies, due to investors realizing that the greenback is greatly undervalued. This helped the Dollar reach recent highs against the EUR and GBP.[caption id="attachment_1818" align="alignright" width="128" caption="Daily Forex Tips"][/caption]
Also big in the news was the GBP experiencing a dire trading day, plummeting against the USD and EUR. This comes on the back of the Bank of England decision last week to print an additional ?50 billion Pounds... ( read more )
August 10, 2009 - The Greenback Continues To Rise After Jobs Report
The movements we saw during Friday's trading session may have been exaggerated and may be reversed. Today is a quiet news day for the U.S. as there are no major economic data releases on the calendar today. However, Britain and Euro-zone appear to be releasing the bulk of today's news, which means we may see a day of trading with low liquidity and therefore increased volatility. Day-traders can take advantage of these intense trading days by swinging within the larger-than-normal price fluctuations. [caption id="attachment_1822" align="alignrig... ( read more )
August 10, 2009 - Daily Forex Tips – August 10th 2009
After a shocking NFP report last Friday, the USD has reacted very positively. As a result, traders have witnessed falling Gold and Crude Oil prices. Should traders now enter their positions in-line with these trends? Not necessarily.[caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]
Economists have forecast time and time again that global economic recovery will most likely be followed by a gradual depreciation in the value of the US Dollar. Now that commerce and industry appear to be returning ... ( read more )