Today, traders should pay close attention to the release of the U.S. Unemployment Claims report. This indicator always produces extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following this vital announcement at 13:30 GMT.
The dollar fell against most of its major currency pairs yesterday after minutes from the U.S. Federal Reserve's latest policy meeting suggested the possibility of more stimulus measures for the economy. By yesterday's close, the dollar fell 0.4% against ... ( read more )
Archive for January, 2010
January 6, 2010 - Dollar, JPY Gain, as Disappointing U.S Data Pushes Inves...
Tuesday's much worse than expected Pending Homes Sales release boosted the U.S. Dollar and the Yen as investors returned to the safety of the greenback and the Japanese currency. Both the Yen and Dollar reverted back to gaining in times of negative economic data. A full news day today will likely prove quite volatile for the major pairs, particularly in light of yesterday's disappointing surprise.
The USD advanced against most of its counterparts except the Yen Tuesday, as a slew of negative data reduced appetite for riskier assets, and... ( read more )
January 5, 2010 - The USD Goes Down All Across the Board
The U.S. dollar dropped against the major currencies during in the first day of trading for the decade after better than expected economic numbers were released from the U.K. and the U.S. while upbeat comments from the Fed may signal low U.S. interest rates may be here to stay.
The U.S. dollar fell during the first day of trading in the new decade after the release of manufacturing data from the U.S. Institute of Supply Management. This shows the manufacturing sector grew during the month of December for the fifth consecutive month, sug... ( read more )
January 4, 2010 - Daily Forex Tips – January 4th 2009
U.S ISM Manufacturing PMI on Tap
A new trading year begins today, a year that all expect to correct last year's losses. Will this mean that the EUR/USD will rise back towards the 1.60 level, or could it drop to the 1.30 level? Currently, a downtrend seems more likely, as the EUR/USD is less than 40 pips from a 4-months low. In addition, analysts are all asking what direction crude oil is headed? Will the appreciation of the Dollar weaken the price of oil? Or could the global economic recovery elevate crude oil back to $100 a barrel? Currentl... ( read more )