Archive for February, 2009
Forex Weekly Outlook – February 23-27 2009
The upcoming week features a few major releases: German Ifo Business Climate and CBI Realized Sales on Tuesday, British Revised GDP and American Existing Home Sales on Wednesday, British Nationwide HPI and Core Durable Goods Orders on Thursday and the American Prelim GDP on Friday. And of course there’s lots more. After gaining throughout the whole week just to lose everything on
EUR/GBP – Where is it going?
I’m revisiting the popular EUR/GBP cross. In the last post about this currency pair, I wrote about it breaking the support line of 0.88, on February 5th. After breaking that line, it stayed below Since then, it continued its decline, and reached a low point of 0.8640, on February 10th. But after hitting that low
Dollar “Nationalized” For The Weekend
The US dollar fell off a cliff against all the currencies. The fall began at 16:50 GMT, during the time that financial stocks plunged at Wall Street. The nice gains that the dollar made during the week were erased in 15 minutes, and the fall continues. EUR/USD leaped 200 pips, from around 1.2650 to 1.2865
Dollar Extending Gains on Strong CPI
The US dollar extends it’s gains after the CPI and Core CPI were slightly better than expected. The strongest impact is in the Japanese Yen. Core Consumer Price Index (CPI) rose by 0.2%, and CPI was at 0.3%. Both figures were 0.1% more than early expectations. After taking a break yesterday, the US dollar renewed
Dollar on Break From Recent Behavior
The US dollar took a break from gaining against other currencies. Also the risk factor took a break: US dollar fell when bad American data was published. Also the USD/JPY – Stock market correlation took a break. Let’s see what happened yesterday (Feb 19). The US dollar took a break from the upward trend after
Forex Daily Outlook – February 19th 2009
Today’s main event already happened – the BOJ didn’t change interest rates, but made some interesting statements. Later today, American PPI and Unemployment Claims will be in the limelight. And of course, there’s always more data from all over the globe… The BOJ left interest rates at 0.1%, as expected. The bank also stated that
Forex Daily Outlook – February 18th 2009
Today features lots of US data, with the Building Permits in the center of attention. Also the Meeting Minutes from both Britain and the US will be carefully read by forex traders. Let’s see what’s on the menu today. In Australia, Quarterly Retail Sales rose by only 0.8%, lower than expectations. Despite this, AUD/USD is back
Forex Daily Analysis – February 17th 2009
Forex trading warms up on Tuesday, after a slow start. The US dollar began with a rise. Today’s big figures are Australia’s Monetary Policy Meeting Minutes, British CPI, German ZEW Economic Sentiment and American TIC Long-Term Purchases. Australian Monetary Policy Meeting Minutes released in the wake of the day, sent AUD/USD down. The RBA said that the stimulus plan
AUD/USD Long – Pick of the week
AUD/USD provides an opportunity for a long position: it’s consolidating around the 0.65 mark, and with the rise in gold prices, it can reach 0.6650 soon, and push towards higher targets afterwards. Let’s look at technicals and fundamentals. AUD/USD Fundamentals The Australian economy is doing much better than other economies in the west. Growth, unemployment
Forex Daily Analysis – February 16th 2009
Forex trading began with news from Japan: GDP in Japan fell by 3.3%, more than expected. This sent USD/JPY up to 91.90. In other data from Japan, the Revised Industrial Production fell even more than the preliminary figure, by almost 10% – 9.8%. These bad figures might have caused BOJ Governor Masaaki Shirakawa to give an