For the moment, anyways, the EUR continues to enjoy the spotlight while the market awaits the results of the recent stress tests. Risk appetite in the market has surged from a wave of optimism. A number of analysts have been concerned about the EUR's sudden surge, however, since there is little to support such movement. European debt concerns remain, growth continues to lag behind expectations, and the bank stress test results are due this Friday which may reveal just how bad off the region is financially.
The US Dollar continues its decline a... ( read more )
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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 21, 2009 - The EUR Fails to Break the 1.50 Level
[caption id="attachment_2029" align="alignright" width="126" caption="Euro"][/caption]The Dollar strengthened versus the EUR following a decline in stock markets, poor U.S economic data and an unexpectedly dour outlook from the Bank of Canada. Concerns about the strength of U.S. corporate earnings and the strength of the global economic recovery dampened demand for risky assets, halting hit the EUR's attempt to breach the $1.50 mark Tuesday.
The USD recovered from recent pressure that pushed it to a fresh 14-month low versus the euro, advan... ( read more )
Crude Oil Makes A Strong Bullish Push
Forex traders have noticed the price of Crude Oil rise recently with the notable decline in value of the U.S. Dollar. Analysts forecast that as the U.S. economy continues to consolidate in the near future, investors may continue to pour their money into Crude Oil, as they see this commodity as the key market mover in the coming months. In any case, it is likely that by September, Crude prices will be $5 away from the current $65.50 market level that it is today.
Here is a great video about this issue:
May 6, 2008 - Is the USD Correction over?
Yesterday, The USD briefly extended its decline vs. the EUR for the first time in three days after Oil prices hit a record high at more than $120 a barrel. High commodity prices are only exacerbating an already weak economic backdrop, sparking debate over the strength of the U.S. economy.
Also yesterday, the ISM Non-Manufacturing Composite index showed that the U.S. services sector grew in April for the first time in 3 months. The Institute for Supply Management's Non-Manufacturing index came in at 52.0 in April vs. 49.6 in March, snapping a... ( read more )