Daily Forex Analysis
Written by ForexYard Monday, 08 February 2010 00:00
The dollar climbed to an eight month high versus the EUR on Friday after the release of the U.S. jobs report. Credit concerns in Europe are weighing on the market as traders have moved out of riskier currencies and into the safety of the dollar and yen.
Forex Highlights
USD - Unemployment Rate Improves
EUR - Sovereign Debt Fears Sinks the EUR
JPY - Sovereign Debt Fears Boost the Yen
Oil - Spot Crude Oil Prices Plummet
Written by ForexYard Thursday, 04 February 2010 00:00
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.
Forex Highlights
USD - The USD Rallies on Better than Expected Economic Data
EUR - Credit Concerns Continue to Pressure the EUR
JPY - Yen Gains on Poor Data from Asia
Crude Oil - Crude Prices Decline on Weak Demand
Written by ForexYard Wednesday, 03 February 2010 00:00
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.
Summary
USD - Pending Home Sales Hurt the Dollar
EUR - Greek Debt Fears Subside
JPY - Australian Interest Rate Held Steady, Shocking the Market
Crude Oil - Crude Prices Jump on Positive USD Data
Written by ForexYard Monday, 01 February 2010 00:00
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.
Forex Highlights
USD - Is the USD Expecting a Downturn Today?
EUR - EUR News Absent from Today's Trading
JPY - JPY Bullish from Pacific Growth and Risk Aversion
Crude Oil - Spot Crude Oil's Next Target $68 a Barrel?
Thursday, 28 January 2010 13:09
The U.S. Dollar awaits the publication of the Unemployment Claims at 13:30 GMT from U.S. The result is expected to be 451K, slightly better than the previous result of 482K. This economic news release is expected to be the key driver of forex trading, and trading of the USD's main crosses as the U.S market opens.
Read more: U.S Unemployment Claims will Determine Today's Trend
Written by ForexYard Thursday, 28 January 2010 00:00
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.
USD - Interest Rate Rumors Boost Dollar
EUR - Euro Hits near Record Lows against Dollar
JPY - USD/JPY Rises Following FED Meeting
Crude Oil - Oil Increases Following American Inventories Report
Written by ForexYard Tuesday, 26 January 2010 00:00
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.
Forex Highlights
USD - Existing Home Sales Fall Sharply
EUR - Risk Aversion is back
JPY - Market Anticipates Japanese Interest Rate Decision
Crude Oil - Spot Crude Oil Prices Rise with U.S. Stocks
Thursday, 21 January 2010 09:38
USD/CAD:
It is January 20th, 2010 and the Dollar is back with a vengeance today. We have been keeping an eye on the Canadian dollar as it has been playing the technicals almost perfectly. We drew a Fibonacci Projection from the high, 1.3064 reached in early March 2009 to the low, 1.0785 seen in early June. We often use the Projection method to test whether the high and low that we have used is still relevant. Our barometer for relevance is met if the Projection lines serve as future Support and/or Resistance for later price action.
Thursday, 21 January 2010 09:38
The U.S Dollar came out swinging yesterday, surging .838 points on the DXY to close at 78.338. The Kiwi took it on the chin, giving up 1.86% as commodities sold off. The EUR was offered across the board for a 3rd day in a row as stops were blown out just below the 200 day MA. The EUR started the day just above 1.43 and finished down 2 big figures to 1.41.
Written by ForexYard Thursday, 21 January 2010 00:00
American and European stocks traded lower this week due to risk aversion among traders, and this has helped support the Dollar's resurgence. With a EUR-heavy news day ahead of us, the USD may take a back-seat during the morning hours. A slew of positive releases from the Euro-Zone could allow us to see a rebound in a few of the major pairs. On the other hand, if Europe's data falls short of expectations, traders should anticipate a continuation of the bullish run in the USD.
Forex Highlights
USD - U.S. Dollar Trades Higher on Stock Market Declines
EUR - EUR Troubled by Stream of Negative Data
JPY - Japanese Yen Receives Boost from Risk Aversion
Crude Oil - Oil Inventories May Support a Price above $80 a Barrel
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