Archive for December, 2008
Unemployment Claims Better Than Expected – Dollar Rises
Today’s Unemployment Claims in the USA were much better than expected – 492,000. It showed a significant drop from the numbers in the past few weeks, always above 550,000. It was also much better the Forex market’s expectations that were at 575K. This surprise is a sweet candy just before New Years. This figure send the
Forex Daily Analysis – December 31st 2008
The last day of 2008 is here. Markets are becoming thinner and thinner, as New Years celebrations get closer. Yesterday’s big news was the CB Consumer Confidence in the US, which is at a record low number of 38. Not only is it under 50 – which means contraction, it’s also well under the market’s expectations
Forex Daily Analysis – December 30th 2008
The Gaza conflict continues to dominate the news around the world: A ground offensive by Israel is due soon, after Hammas escalated rocket attacks. The price of oil is certainly moved by the voilence in the middle east. WTI Crude now trades at $40, after reaching $43. Oil prices will shake even more if the
Forex Daily Analysis – December 29th 2008
Trading in this short holiday week began with a drop in the rate of the USD. It weakened against almost all the currencies. EUR/USD jumped to 1.4339, USD/JPY is flirting again with the 90 mark, and also the USD/CHF dropped to 1.0433. The gains that the Swiss Franc made came despite of the KOF Economic Barometer
EUR/GBP at Parity Very Soon
The EUR/GBP cross currency pair is getting stronger for already 6 weeks. Since November 12th, it broke a resistance line at 0.82. Before that, it was trading in a narrow range between 0.77 and 0.81. Since November 12th, it has one direction: up. While the economic crisis weakened the US dollar against the all currencies,
Forex Weekly Outlook – December 29th 2008 – January 2nd 2009
This week, is still a holiday week. The year is changing Wednesday night. Januray 1st is a holiday, and the volume is usually low at this time of the year. But this time, the flames in the middle east are looming over the forex traders. The violent conflict in Gaza, that broke out 36 hours
Gaza War Widens just before Forex Trade Resumes
The conflict in the Gaza strip widens. Israel began moving tanks and infantry towards the Gaza strip. In addition, the Israeli government announced that over 6,000 reserve soldiers will be drafted for fighting in Gaza. The military collision that began yesterday is currently remote: Israeli airforce striked Hammas posts, and Hammas launched rockets as far
Gaza War Will Make Oil Prices Higher
Today, Israel made a blitz attack on the Hammas strongholds in the Gaza strip. This is a big move in an ongoing conflict. Without getting into the complicated mideast politics, a violent conflict somewhere in the middle east always moves oil prices higher. There’s always a fear that a war in Gaza could flare up
Forex Daily Analysis – Decmber 26th 2008
In the wake of Boxing day, the markets opened with a few gaps. Only in Japan, banks continued to work. Today, Wall Street is open, and Christmas is already over, but the volume is expected to be very low. Forex traders have little information to listen to. In fact, all the data was already published
Merry Chirstmas!
The US dollar became stronger just before Christmas. The current rates are EUR/USD 1.3968, GBP/USD 1.4681, and USD/JPY 90.69. Earlier today, the dollar weakened. All the moves are quite minor. In the US, the Core Durable Goods Orders m/m were at 1.2%, which was a big surprise. The market expected a drop of 3.0%. On