The Dollar fell broadly on Thursday amid negative news reports that all but dashed hopes of an interest rate hike in the near future. Today, investors will be looking at two reports that could impact USD. The Core CPI report as well as a consumer sentiment report could give the Dollar a much needed boost in afternoon trading.
After falling broadly against most of its major counterparts in trading yesterday, the Dollar is still low as we start off the day. A disappointing retail sales report yesterday caused the greenback to fall to a tw... ( read more )
Archive for January, 2010
January 14, 2010 - Daily Forex Tips January 14th 2010
A very volatile day expected today across the board in equities, commodities and currencies with the focus was turning to the European Central Bank meeting, U.S. retail sales numbers and jobless claims for December.
12:45 GMT EUR Minimum Bid Rate
- For the 8th month in a row, the European Minimum Bid Rate is predicted to remain at 1%. As in previous cases, the focus will shift to the ECB Press Conference, where Mr. Trichet may lay out the policy for 2010, and may hint a possible timing for a rate hike, now that prices stopped falling in t... ( read more )
January 13, 2010 - The USD Trades Lower Against JPY
The US Dollar was little changed against the EUR but fell significantly against the yen during Tuesday's trading session after the People's Bank of China increased the amount of reserves Chinese banks must hold in order to slow the growth of credit.
The US Dollar was trading lower against the EUR yesterday as traders stayed away from riskier assets such as equities and crude oil, opting for the safety of the Yen. In addition to the new banking restrictions in China, concerns over the sovereign debt of Greece did little to increase trade... ( read more )
January 12, 2010 - USD Declines on Rise in Optimism
The U.S Dollar declined against major counterparts Monday as risk appetite returned on renewed confidence about an impending global economic recovery. The renewed optimism fueled demand for the EUR as well as currencies from commodities-rich countries such as the AUD and NZD.
The Dollar was lower Monday, falling to the lowest level in 3 weeks against the EUR on speculations the U.S economic recovery will lag behind the rest of the world. Risk appetite increased following a better than expected surge in Chinese trade. The Dollar was furt... ( read more )
January 8, 2010 - Non-Farm Employment Change to Set the Pace For TodayR...
On tap today is the ever-important US Non-Farm Employment Change (NFP) report due at 13:30 GMT. This is one of the most important economic events on the calendar and is always released on the first Friday of a new month. Should the NFP report provide positive results, there is a good chance the USD may indeed go bullish and break through a number of significant barriers.
This entire week we've witnessed the USD fluctuate in a steady range against most of its rivals. The EURUSD pair has hit peaks around 1.4475, with troughs as low as 1.4... ( read more )