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 )
Posts Tagged with ‘currency trading’
Daily Forex Tips – June 2nd – 2009
Here are several important events to focus on today:
8:30 GMT: GBP Construction PMI
· It's a leading indicator of economic health - businesses react quickly to market conditions.
· This figure is forecast to make a slight improvement from the previous reading.
· After this release, it might create volatility in the market.
· Very positive result might push the GBP/USD further up.
14:00 GMT: U.S Pending Home Sales
· Change in the number of homes under contract to be sold but still awaiting the closing transaction, e... ( read more )
January 14, 2009 - EUR Levels are Priced in Tomorrow’s Rate Cut
Over the past week, traders have witnessed a gradual depreciation in the value of the EUR. This has been brought about by negative economic news as well as the assumption that the European Central Bank (ECB) will have to enact strong measures to bring about a correction to the value of its currency. This morning, as traders plant their steady positions in expectation of tomorrow's rate cut, we have begun to see some upward movement to the EUR as many may actually believe that a rate cut will not weaken the currency, but ultimately bring its val... ( read more )
January 5, 2009 - USD Appreciates; All Eyes on This Week’s Nonfarm D...
After a harsh couple of weeks, the U.S. Dollar now appears poised to regain some lost ground against its primary currency counterparts. The Dollar had risen to as high as 1.4660 versus the EUR just two weeks ago. Now it seems the greenback has begun its ascent away from these doldrums. As of last Friday, the USD had risen to as high as 1.3850 against the EUR and continued to float near that mark during today's early trading hours.
Against the Yen, the Dollar also began to march upward as it climbed from 90.00 to 92.00 these last few days, ma... ( read more )
November 17, 2008 - Empire State Manufacturing Index on Tap
Opening this week's trading session with relatively positive news, the USD appears to be regaining its strength after last week's negative economic data. Climbing over 100 points against the EUR in today's early trading session, as well as continuing its steady rise against the Swiss Franc, the Dollar has gained some surprising momentum given recent economic news from the United States. The USD in fact sits just below 1.2600 against the EUR, steadily increasing its momentum.
Over the weekend, G20 leaders met in Washington D.C. to discuss the... ( read more )