The Dollar experienced mix trading yesterday, climbing against the Yen but falling against the EUR with traders anticipating both Japanese and U.S. interest rate decisions and a bloc of economic data. The economic releases to come may be a positive for the USD.
Yesterday's release of U.S. existing home sales showed a sharp drop during the month of December. Traders reacted by selling the Dollar and buying the EUR instead. However, by the end of the day, the EUR/USD was relatively unchanged from its opening price as traders are tentative to p... ( read more )
Posts Tagged with ‘currency’
January 18, 2010 - The USD Closes a Bearish Week Due to Poor Data
After consistently dropping last week, the Dollar's downtrend appears to be halted. The Dollar is currently rising against the Euro, and considering Crude Oil's surprising drop, it seems that the Dollar has the potential to rise further. However, as a week packed with economic publications from the U.S. begins, it seems that the direction of the Dollar will be determined by the results of this data.
The Dollar dropped against most of the major currencies during last week's trading session. The Dollar saw a 200 pips slide against the Yen, and... ( read more )
January 15, 2010 - USD Still Traded Low after Retail Sales Report
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 )
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 )