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 )
Posts Tagged with ‘trading’
February 4, 2010 - The USD Gains Ahead of Non Farm Employment Data
The USD was higher against its major counterparts Wednesday, heading toward its highest levels versus the EUR since last summer, following the release of better than expected economic data from the U.S.
The USD rallied against its major currency counterparts Wednesday following the release of stronger than expected economic data. The greenback erased overnight losses against the EUR after the release of a better than expected ADP Non Farm Employment report in January while the ISM Non-Manufacturing PMI showed expansion in service sector acti... ( read more )
February 3, 2010 - Aussie Central Bank Shocks the Forex Market
Australia surprised economists by holding interest rates steady after the market unanimously predicted an interest rate hike. Also a chain of positive news has helped spot crude oil prices jump over 5.5% during the past two days.
The dollar fell today versus the EUR as worries were reduced over Greece's ability to repay its sovereign debt. However, trading ranges were tight as investors were hesitant to open such large positions prior to the release of the U.S. Non-Farm Payrolls report on Friday.
The EUR/USD rose to a closing price to day... ( read more )
February 1, 2010 - US Inflationary Figures may Push Greenback Down
The American economy is due to release a number of reports today which may have a moderately heavy impact on today's trading. The Personal Spending and Personal Income reports due at 13:30 GMT will carry a level of significance in today's market, but not nearly as much as the ISM Manufacturing PMI scheduled for 15:00 GMT. Forex traders won't want to miss out on these reports especially since many are forecasting a short-term downward correction for the USD in today's trading. These reports will either debunk or verify that notion.
The US Dol... ( read more )
January 28, 2010 - Interest Rate Rumors Boost USD
Following signals from the U.S. Federal Reserve that American interest rates may be increased sooner then expected, the U.S. Dollar got a significant boost in trading last night and in the early morning today. Today, a full set of Dollar related news events will likely determine the direction the greenback goes for the rest of the week.
The U.S. Federal Reserve (FED) left interest rates unchanged following their policy meeting on Wednesday, but an overall tone of optimism left the door open to an increase in the near future. The Dollar react... ( read more )