[caption id="attachment_1822" align="alignright" width="128" caption="The USD "][/caption]The USD is set to be at the forefront of forex trading today. This is after The USD fell against its major counterparts on Thursday, after a string of gains in recent trading sessions. Yesterday's behavior was the results of the confirmation that the U.S. economy returned to growth in the 3rd quarter, boosting investor optimism, leading to the equity market to rally, and curbing the need for the greenback's relative safety.
The USD headed for a 4th mon... ( read more )
Archive for October, 2009
October 29, 2009 - US GDP to Set the Pace for Forex Trading Today
[caption id="attachment_1804" align="alignright" width="293" caption="US GDP"][/caption]The surprise drop in New Home Sales in the United States yesterday has resulted in a sudden buy-up in USD as investors flock to safe-havens. With a market that appears to be lacking a clear direction recently, major reports such as the New Home Sales report yesterday and today's Advanced GDP data become that much more important to watch as more investors await their release before trading.
The US Dollar extended gains against the EUR after a report showe... ( read more )
October 28, 2009 - The USD Continues to Gain
[caption id="attachment_1814" align="alignright" width="128" caption="The Greenback Continues To Rise"][/caption]The USD continued to advance Tuesday against major currencies as a measure of U.S. consumer confidence registered an unexpected decline for October. Gold futures extended losses from the previous session as the USD rose. December Gold fell $7.40, to settle at $1,035.40 an ounce on the Comex division of the New York Mercantile Exchange and is currently trading around $1041.
The USD gained against the EUR for the second session in ... ( read more )
October 27, 2009 - The Greenback Soars On Safe Haven Status
[caption id="attachment_1822" align="alignright" width="128" caption="The USD Soars"][/caption]Dollar trading today is set to be dominated by key releases from the U.S., such as the CB Consumer Confidence figures at 14:00 GMT. The speech by Treasury Secretary Timothy Geithner at 20:00 GMT is also set to be a market mover when it takes place at 20:00 GMT. It is also recommended that you follow the results from top U.S. companies, as this may help the U.S. Dollar continue to gain on its recent bullish trend.
The USD made impressive gains thro... ( read more )
October 26, 2009 - The EUR Breaks the 1.50 Level
[caption id="attachment_2029" align="alignright" width="126" caption="Euro"][/caption]The U.S dollar fell against the EUR and the Yen in Asian trading this morning after an official newspaper of the Chinese central bank said China should cut its USD holdings, adding to concerns over the unit's global reserve currency status. The greenback could weaken further later in the day, particularly against the risk-sensitive EUR, which is also benefiting from stronger stock markets, analysts said.
The Dollar saw an extremely volatile session during ... ( read more )