Comments by Fed Chairman Ben Bernanke surprised many investors as he joined the rallying cry for a stronger Dollar, which may lead to strength for the USD in the days ahead. On the other hand, the USD still faces downward pressure from sudden spikes in risk appetite following positive news reports as its safe-haven status has not yet diminished. After last week's drop in consumer confidence, safe-havens like the USD and JPY have begun to regain some of their strength.
Following the USD's minor slide in yesterday's trading, it appears the... ( read more )
Posts Tagged with ‘trading’
November 17, 2009 - US PPI to Be the Driver of USD Forex Trading Today
The Producer Price Index (PPI) is expected to be the main driver of USD trading for Tuesday. The other major releases from the U.S. that forex traders are advised to follow are the TIC Long-Term Purchases, Core PPI and Industrial Production.
The U.S. Dollar fell against all of its major currency pairs yesterday. This was in response to traders dropping the USD, as stocks climbed after U.S. Retail Sales rose more than predicted, and Asian governments pledged to uphold their economic stimulus spending. In October, Retail Sales rose 1.4 %,... ( read more )
November 16, 2009 - Gold Price Continues to Soar, Reaches $1,129 an Ounce!
[caption id="attachment_2101" align="alignright" width="128" caption="Gold continues to soar."][/caption]The strongest trend in the market appears to be the bullishness of gold. Gold continues to break new records on a daily basis, and with a week packed with publications from the U.S economy entering, the main question is, can gold reach higher?
The Dollar continued to weaken during last week's trading session. The Dollar extends its slow yet steady slide against the Euro, and the EUR/USD pair is reaching towards the 1.50 level again. The ... ( read more )
November 12, 2009 - Forex Market Awaits The U.S. Unemployment Claims
The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 13:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Industrial Production from the Euro-Zone at 10:00 GMT and Crude Oil Inventories at 16:00 GMT. Traders may find good opportunities to enter the market following these vital announcements.
The Dollar hit a 15-month low against major currencies on Wednesday on... ( read more )
November 11, 2009 - The Greenback Recovers modestly off 15 Months Lows
[caption id="attachment_1822" align="alignright" width="128" caption="The USD Recovers"][/caption]The U.S Dollar bounced off a 15-month low yesterday and the EUR dipped below $1.50 as investors paused to assess whether the global outlook justifies a recent rally in higher-yielding currencies and assets. The British Pound in particular struggled on Tuesday after Fitch ratings agency told Reuters that Britain was the major economy most at risk of losing its top AAA credit rating.
The U.S Dollar edged up on Tuesday, reversing some of its r... ( read more )