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26

Jun

U.S Unemployment Claims on Tap


Posted by admin as Daily forex analysis, Forex News

The Dollar began a strong rally during yesterday’s session, which dropped the EUR/USD pair as low as the 1.3900 level. Today, The U.S Unemployment Claims appears to be capable of shifting the momentum into the opposite directions as analysts forecast negative figures.

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25

Jun

US Federal Funds Rate to Drive the Market Toda


Posted by admin as Daily forex analysis, Forex News

The market is expected to be very volatile today, as the U.S. announces the Federal Funds Rate at 18:15 GMT, which specifies U.S. Interest rates. The other factor that which is set to affect both the USD and Crude Oil is the publication of the U.S. Crude Oil Inventories at 14:30 GMT. In order for traders to start making profits today, it is recommended that they open their USD and Crude Oil positions as the trading day gets under way.

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22

Jun

Traders Anticipate Heavy News this Week in Forex


Posted by admin as Daily forex analysis, Forex News

After depreciating consistently over the past month, the USD is now traded over 1.39 against the EUR, and over 1.64 against the GBP. This week on Wednesday, the Federal Reserve is expected to deliver an Interest Rates statement, and is widely expected to leave it on 0.25%. However, any change that might take place is prone to sow disorder in the market, and forex traders should be ready for it.

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19

Jun

Philly Fed Manufacturing Index Boosts Dollar


Posted by admin as Daily forex analysis, Forex News

The Philly Fed Manufacturing Index and a string of other positive U.S. data boosted the Dollar yesterday. This marks a turnaround for the U.S., as there is increasing optimism that the current recession will be over sooner than later. Now may be a good time for forex traders to enter the market as investors continue to profit from yesterday’s bullish Dollar.

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18

Jun

U.S. Unemployment Claims Data to Drive USD Trading Today


Posted by admin as Daily forex analysis, Forex News

The market is set to go increasingly volatile today on the publication of U.S. Unemployment Claims at 12:30 GMT and the Philly Fed Manufacturing Index at 14:00 GMT, and Treasury Secretary Timothy Geithner’s speech at 13:30 GMT . In turn this economic news will help determine the strength of the Dollar versus its major currency pairs going into end of week trading. In order to take advantage of the forex market now, traders are advised to start opening their USD positions now, prior to the release of this crucial data.

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17

Jun

British Pound May Dominate Today’s Market


Posted by admin as Daily forex analysis, Forex News

As the USD shows unclear signals about where it is heading, and the EUR appears to be following the lead of the greenback, the market’s primary currencies seem to be confusing the bulk of forex traders. On the other hand, the British Pound has shown strong signs of life and Britain is scheduled to release significant economic data today which may cause the GBP to be the main subject of today’s trading.

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16

Jun

Return to Risk Aversion over Negative U.S Data


Posted by admin as Daily forex analysis, Forex News

The USD and JPY regained their status as safe-haven currencies after the release of worse than forecasted economic data from the Empire State Manufacturing Index and TIC Long-Term Purchases reports and a subsequent return to risk aversion. The two currencies gained against most of their major currency pairs amidst a volatile trading day. Today’s trading is expected to be volatile as well with major news releases from the U.S and Euro-Zone including the U.S Building Permits and the PPI releases at 12:30 GMT, the German ZEW Economic Sentiment at 9:00 GMT and Britain’s CPI at 8:30 GMT.

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15

Jun

Dollar Up as Russia Sees No Other Alternative to the U.S. Currency


Posted by admin as Daily forex analysis, Forex News

The EUR came under selling pressure against the greenback on Monday after the UK Daily Telegraph reported on its website that Germany’s top industrial group has warned that Germany’s credit crunch is deepening. The dollar also drew some support after Russia’s Finance Minister said the nation has full confidence in the U.S. currency. His remarks came ahead of the first summit of leaders of Russia, China, India and Brazil on Tuesday, at which the leaders are expected to discuss issues including foreign reserve diversification.

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11

Jun

EUR and USD in Struggle for Dominance


Posted by admin as Daily forex analysis, Forex News

With the recent volatility in the forex market, one currency pair seems to stand out: the EUR/USD. This pair has been range-trading for the previous week as the two currencies struggle for dominance of the currency market. With this weekend’s G8 summit on the global financial system, traders will no doubt anticipate a higher level of volatility among this primary currency pair after the world’s economic leaders meet.

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10

Jun

Crude Oil Prices Surprise with Bullishness as USD Weakens


Posted by admin as Daily forex analysis, Forex News

Many analysts yesterday had anticipated a slight decline in the price of Crude Oil considering the recent strength in the USD brought on by last week’s employment data. However, oil prices surprised many traders today as the price continued to climb above $70 a barrel to hit a 7-month high! As Geithner’s speech demonstrated a renewed push for economic recovery, and potential plans to raise interest rates in the US, there isn’t very stable ground around the common safe-haven investments. Traders should expect more volatility today.

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