Archive for December, 2008
Low Market Volume is Strongly Felt
The holidays are already here. Today, two days before Christmas, the moves in the market were quite strange. The most peculiar currency is the most important one: the greenback. Despite weak economic data from the US, the dollar gained ground against the Euro, the pound and even against the Japanese Yen. Existing Home Sales, today’s
Forex Daily Analysis – December 23rd 2008
In yesterday’s trading sessions, the US dollar strengthened against most currencies. The USD/JPY is back over 90, EUR/USD is under 1.40 and the GBP/USD is a little above 1.48. In New Zealand, the GDP retracted, but not as bad as expected: 0.4%. That did little to move the NZD/USD, currently at 0.5742. Today, there a
Forex Daily Analysis – December 22nd 2008
Most of the financial markets will be closed on Thursday, on Christmas day. The thin markets may colatile trade. From Wednesday, 19:00 GMT till Friday 8:00 GMT, the markets will be closed. The European currency became stronger last week, and later weakened. In the wake of the of the new week, the Euro gained some
Forex Weekly Outlook – December 22-26th 2008
The upcoming week will feature very thin trading due to the holiday of Christmas. Trading will become thinner as week unfolds. New Zealand Dollar in focus For those of you not on vacation, an interesting pair to watch this week will be the NZD/USD. A few major economic figures will be released this week in
Forex Weekly Roundup- December 15-19th 2008
Last week was very dramatic in the Forex market: The peak was the interest rate cut on Tuesday by Ben Bernanke: a 0.75% cut to 0.25%. This weighed heavily on the USD, on all fronts. Later on, the dollar made a big comeback, especially in against the Euro and the pund. Both EUR/USD and GBP/USD
Yen expected to dive following the Budget Proposal
The Japanese government revealed the new budget that is planned for the next fiscal year. It features an increase of 6.6% to 88.5 trillion Yen – about 990 billion dollars 0 the highest budget ever. This move contradicts the government’s long term effort to reduce the budget and to reach a balanced budget by 2011.
Forex Daily Analysis – December 19th 2008
The big news this morning comes from Japan – the BOJ reduced the interest rate to 0.1% – quite symbolic. Japanese Yen traders aren’t used to see moves in interest rates – this is the second one in the recent two months. The Bank of Japan also announced that it would flow some cash into
Dollar makes a comeback
The US dollar retracted against all currencies in the European and North American session. THe EUR/USD is back at about 1.44, the GBP/USD is at around 1.53 and the USD/JPY is above 89. Also other pairs, such as the USD/CAD have turned in favor of the greenback. This comes after a fews days of beating
Forex Daily Analysis – December 18th 2008
The US dollar continues to plunge against all the currencies. Even the pund that lagged behind made a move forward. GBP/USD now above 1.56. The EUR/USD crossed another resistance line at 1.44, and aimed to breach the 1.45 line. Curretly it retracted back a little bit. Today’s imprtant data is Germany’s IFO Business Climate Survey,
Dollar plunges even lower
The US dollar plunges further down today, hitting a new low with the Japanese Yen. USD/JPY is at 87.92, the lowest since August 1995. A strong move was also made by the European currency – the EUR/USD moved 2.3% up to 1.437. Only the pound failed to make a big move today, hurt by the Claimant