[caption id="attachment_2101" align="alignright" width="128" caption="Gold continues to soar."][/caption]The strongest trend in the market appears to be the bullishness of gold. Gold continues to break new records on a daily basis, and with a week packed with publications from the U.S economy entering, the main question is, can gold reach higher?
The Dollar continued to weaken during last week's trading session. The Dollar extends its slow yet steady slide against the Euro, and the EUR/USD pair is reaching towards the 1.50 level again. The ... ( read more )
Archive for November, 2009
November 13, 2009 - Daily Froex Tips – November 13th 2009
The USD broke its recent trend yesterday as the greenback strengthened against the EUR. The EUR/USD rate fell sharply to its lowest level in a week. The EUR/USD was down 0.8% for the day.
10:00 GMT - EUR Flash GDP
• Change in the inflation-adjusted value of all goods and services produced by the Euro-Zone economy.
• There is expected to be high volatility on the publication of the above data.
• Traders should pay close attention to the forex market as there is an opportunity for them to take advantage of fluctuations that are likel... ( read more )
November 12, 2009 - Forex Market Awaits The U.S. Unemployment Claims
The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 13:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Industrial Production from the Euro-Zone at 10:00 GMT and Crude Oil Inventories at 16:00 GMT. Traders may find good opportunities to enter the market following these vital announcements.
The Dollar hit a 15-month low against major currencies on Wednesday on... ( read more )
November 11, 2009 - The Greenback Recovers modestly off 15 Months Lows
[caption id="attachment_1822" align="alignright" width="128" caption="The USD Recovers"][/caption]The U.S Dollar bounced off a 15-month low yesterday and the EUR dipped below $1.50 as investors paused to assess whether the global outlook justifies a recent rally in higher-yielding currencies and assets. The British Pound in particular struggled on Tuesday after Fitch ratings agency told Reuters that Britain was the major economy most at risk of losing its top AAA credit rating.
The U.S Dollar edged up on Tuesday, reversing some of its r... ( read more )
November 10, 2009 - Daily Forex Tips – November 10th 2009
[caption id="attachment_1818" align="alignright" width="128" caption="Daily Forex Tips"][/caption]The USD Slides Whilst Crude Climbs.
The U.S. Dollar slid against its main currency counterparts yesterday. For example, the EUR/USD pair climbed for the second day, as it now approaches the 1.5050 level.
The weak Dollar helped push Crude prices higher, as the commodity is priced in Dollars. Also, as yesterday's trading dragged on, investors attempted to use the commodity as a hedge against inflation.
10:00 GMT EUR – German ZEW Econom... ( read more )