All Blog Posts (1,487)

The FOREX Daily Digest – October 23, 2009

The USD increased against the EUR on speculation that China will withdraw fiscal and monetary stimulus and as U.S. initial jobless claims increased more than forecast, reducing risk demand. A 13.9% year-on-year increase in Chinese industrial production and one analyst said an 8.9% rise in third-quarter gross domestic product, while impressive, was "not quite as strong as some had been hoping.” The U.S. currency may remain under pressure as the Federal Reserve trails other central banks in… Continue

Added by Forex Daily Digest on October 23, 2009 at 7:33am — No Comments

The Forex Daily Digest – October 22, 2009

The dollar fell against the JPY in Asia due to profit-taking, but it may rise briefly later in the day as Japanese fund players are expected to launch their buying for new trust funds. The dollar weakened to the lowest level in 14 months against the euro as signs the global economy is recovering boosted demand for higher-yielding assets.

The CAD fell for a second day as declines in global stocks and crude oil, the nation’s largest export, slowed investors’ appetite for riskier… Continue

Added by Forex Daily Digest on October 22, 2009 at 7:39am — No Comments

The Forex Daily Digest – October 21, 2009

The USD reentered positive territory after experiencing a 14-month low against a basket of currencies as a result of policymaker comments, but options-related buying kept it from pushing through $1.50 against the EUR and 90 JPY. The dollar was also affected by the U.S. equities markets, as well as data showing continued weakness in the U.S. housing sector. The USD has been under sustained pressure this year due to expectations of low U.S. interest rates and questions about its status as the… Continue

Added by Forex Daily Digest on October 20, 2009 at 4:34pm — No Comments

FOREX outlook

Tomorrow (Oct 21) The Bank of England's (BOE) Monetary Policy Committee (MPC) will publish its record of the committee's interest rate meeting held two weeks ago.

The meeting gives a picture of economic conditions in the UK, and records the votes of the individual members of the Committee.

If the BOE is hawkish about the inflationary outlook, it should be taken as positive/bullish for the GBP.

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Euro Dollar

The Euro broke the yesterday's resistance… Continue

Added by Adam Horak on October 20, 2009 at 3:12pm — No Comments

The Forex Daily Digest – October 20, 2009

The USD began the week under pressure, falling after the Fed Bank of New York released a statement clarifying some recent activity that market participants interpreted as preparation for removing some liquidity from the financial system and boost interest rates. And according to currency analysts, the USD will extend losses as the global economy’s recovery prompts investors to shift away from U.S. assets. The Dow reached 10,092 and gold finished the day higher to close at $1,058.

The… Continue

Added by James Dicks on October 20, 2009 at 8:03am — No Comments

The Forex Daily Digest – October 19, 2009

The USD advanced against the EUR and JPY at the end of last week as data showed gains in foreign funds coming to the U.S. and frailty in consumer confidence encouraged selling of stocks. The USD and GBP rebounded from recent lows scored the previous day as traders reversed bets that the USD will fall even more, and U.S. stocks declined, easing pressure to continue selling the dollar.

The GBP was stronger against the EUR, poised for its biggest weekly gain in more than four months; on… Continue

Added by Forex Daily Digest on October 19, 2009 at 8:09am — No Comments

The Forex Daily Digest – October 16, 2009

The dollar headed lower against the EUR and the GBP but remained up against the JPY in volatile trading after a mixed bag of U.S. economic data. Currency markets also watched the U.S. equities market, which remained above the 10,000 level for a second straight day. After a weak regional manufacturing report, stocks remained lower and U.S. Treasuries briefly turned positive, pushing yields down, indicating a demand for safer assets that briefly supported the U.S. dollar.

The dollar… Continue

Added by Forex Daily Digest on October 16, 2009 at 8:06am — No Comments

The Forex Daily Digest – October 15, 2009

The USD traded near a 14-month low against the EUR as improving corporate earnings helped global stocks rally beyond the 10,000 mark, encouraging investors to look for higher- yielding assets. The USD may fall for a third day against the yen as JPMorgan Chase & Co.’s earnings beat analysts’ estimates. The NZD gained against all of its major counterparts as the nation’s consumer prices rose more than expected.

Heightened public concern over the USD’s drop -- from finance officials… Continue

Added by Forex Daily Digest on October 14, 2009 at 9:46pm — No Comments

The Forex Daily Digest – October 14, 2009

The USD fell to a new 14-month low versus major counterparts as investors favored gold, often viewed as the most stable currency, with the dollar's losses softened by a drop in U.S. stocks amid concerns about the strength of the economy's recovery. The dollar cut some earlier losses that pushed the commodity-oriented AUD and CAD to levels not seen since in a year.

The shift out of dollar into euro- denominated assets by central banks around the world will help extend the rally in… Continue

Added by Forex Daily Digest on October 13, 2009 at 9:30pm — No Comments

The Forex Daily Digest – October 13, 2009

The dollar lost ground against major rivals as U.S. equities extended a rally ahead of a heavy flow of corporate earnings this week. Earlier in the day, the USD hit a two-week high against the JPY with traders covering short positions in the U.S. currency as they debated the timing of tightening in U.S. monetary policy. Despite its gains against the JPY, dollar sentiment remained bearish, and it gave up early gains against the EUR, after a 1 percent increase in European shares. The dollar… Continue

Added by Forex Daily Digest on October 12, 2009 at 10:13pm — No Comments

The Forex Daily Digest – October 12, 2009

The USD moved higher in Asian trading at the end of the week, after some currency investors took remarks from Federal Reserve Chairman Bernanke as hints that U.S. interest rates could be headed higher. The USD's advance followed remarks from Bernanke, who said the Fed will reverse course and tighten monetary policy "when the economic outlook improves sufficiently." The USD has been hit hard as investors have run toward equities and other riskier investments since the spring after investing in… Continue

Added by Forex Daily Digest on October 11, 2009 at 9:45am — No Comments

The Forex Daily Digest – October 9, 2009

The USD briefly cut its losses against the JPY after data showed the number of Americans filing new claims for unemployment benefits fell more than expected to a nine-month low last week. The USD fell to a two-week low against the EUR amid signs the global economy is recovering, increasing demand for higher-yielding assets. The Dollar Index saw its weakest level in 14 months after Alcoa Inc. (AA) reported third-quarter earnings that beat analysts’ estimates, motivating gains for… Continue

Added by Forex Daily Digest on October 9, 2009 at 8:09am — No Comments

The Forex Daily Digest – October 8, 2009

The dollar traded near the lowest level in almost two weeks versus the euro as speculation that the Federal Reserve will follow other central banks in raising interest rates made the dollar less attractive. The AUD was the biggest gainer against the dollar this week, hitting a 14-month high, as the Reserve Bank unexpectedly increased the cash target to 3.25 percent and signaled further increases on the horizon. Gold futures climbed to a record high and crude oil gained as the dollar’s decline… Continue

Added by Forex Daily Digest on October 8, 2009 at 7:58am — No Comments

The Forex Daily Digest – October 7, 2009

The USD remained lower against most major rivals, weighed down in part by a British newspaper report that Gulf oil producers, in concert with China, Russia, Japan and France are planning to eventually end dollar-based oil pricing. The report in the Independent newspaper was denied by top finance officials, giving the dollar a small, but temporary, lift in early European trading hours.

Oil futures rose above $71 a barrel early yesterday, as the USD fell against major currencies,… Continue

Added by Forex Daily Digest on October 7, 2009 at 7:40am — No Comments

The Forex Daily Digest - October 6, 2009

High-ranking oil and finance officials in the Persian Gulf, denying a report in a British newspaper, said the world's oil producers will continue using the U.S. dollar as the currency for buying and selling crude. Earlier, The Independent, a London newspaper, reported that Gulf Arab states, as well as China, Russia, Japan and France, were in secret talks to end the use of the USD to trade oil, causing the U.S. currency to fall in overseas trading this morning.

The USD fell against… Continue

Added by Forex Daily Digest on October 6, 2009 at 9:00am — No Comments

The Forex Daily Digest – October 5, 2009

The G7 nations released a final report after their meeting this weekend in Istanbul which stated that too much instability in foreign exchange markets could harm the international economy and the financial system, and again welcomed China's commitment to move toward greater currency flexibility. The language on currencies in the final communiqué issued by the G7 finance ministers and central bankers was nearly identical to a statement released after their last meeting in April.

IMF… Continue

Added by Forex Daily Digest on October 4, 2009 at 1:49pm — No Comments

sept non farm

US employers cut a deeper-than-expected 263,000 jobs in September, lifting the unemployment rate to 9.8 percent, according to a government report on Friday that fueled fears the weak labor market could undermine economic recovery.

The Labor Department said the unemployment rate was the highest since June 1983 and payrolls had now dropped for 21 consecutive months.

As I discused on my daily radio show prior to todays release, I was looking for payrolls to come… Continue

Added by Adam Horak on October 2, 2009 at 8:53am — No Comments

The Forex Daily Digest – October 2, 2009

The USD saw some strength against the EUR after European Union officials voiced concern about the EUR’s recent increase. The E.U. Economic and Monetary Affairs Commissioner, Joaquin Almunia, said the finance ministers from the 16 euro nations will discuss the currency's rise in order to develop a common position ahead of the G7 meeting in Istanbul which begins tomorrow. A senior Canadian finance official said G7 finance ministers and central bank heads will try to figure out how to activate the… Continue

Added by Forex Daily Digest on October 2, 2009 at 8:11am — No Comments

The Forex Daily Digest – October 1, 2009

The third quarter wasn’t kind to the U.S. dollar. As a matter of fact, the USD fell against most of the major world currencies as the International Monetary Fund cut its projections for losses and write-downs associated with the world’s current economic crisis. The dollar index fell 4.4 percent in the quarter and was down 2.0 percent for the month of September alone. The CAD increased the most in three weeks based on the same IMF projections. U.S. gold futures hit $1,000 an ounce yesterday,… Continue

Added by Forex Daily Digest on October 1, 2009 at 7:57am — No Comments

The Forex Daily Digest – September 30, 2009

The USD gained a little ground against other major currencies yesterday, particularly the JPY after that nation’s Finance Minister hinted at the possibility of “intervention” to slow any further increase in the yen. U.S. gold futures fell slightly in choppy trading as a USD increase encouraged bullion investors to lock in their profits, but strong technical support should keep gold from falling even more.

Japan's new finance minister, Hirohisa Fujii, has upset the foreign exchange… Continue

Added by Forex Daily Digest on September 30, 2009 at 7:30am — No Comments