Post Tagged with: "Federal Reserve"
ADP Plummets – Dollar Falls
The ADP Non-Farm Employment Change fell by 693,000 jobs! This devastating number was far more than a drop of 495,000 that was expected. Following this bad news, the dollar fell against most currencies: EUR/USD at 3701, GBP/USD crossed the 1.50 mark and is now at 1.51, USD/CHF under 1.10 at 1.0924 and USD/JPY at 92.65. All
Low Home Sales Send the Dollar Down
The Pending Home Sales showed a fall of 4.0% . This was far worse than a drop of 0.9% that was expected. This sent the dollar down. The dollar rallied until this announcement against all the major currencies: Euro, Yen and Swiss Franc. Now this trend has been reversed. The ISM Non-Manufacturing PMI was surprisingly better
Forex Daily Analysis – January 6th 2008
The week started with strong moves by the US dollar and the British Pound. This USD GBP correlation is still mysterious. Today, moves in the Forex market will be backed by lots of important economic data. In Australia, the AIG Services Index will supply some indication about this strong economy of this nation. Also in the
Forex Weekly Outlook – January 5-9 2008
Finally, after two weeks of holidays, we have a full trading week. And it’s expected to be very exciting! Monday begins easily, with a speech by FOMC Member Yellen. Federal Reserve Bank of San Francisco President Janet Yellen might give some direction about the money printing that the Federal Reserve plans to spend. More from the US
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
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
Forex Daily Analysis – December 17th 2008
Trading today is in the shadow of yesterday’s historic rate decision in the USA: a rate of 0.25% is unprecedented in America – Bernanke went for it. Currently trading is rather calm – the EUR/USD is resting above 1.40, the GBP/USD is flirting with 1.55 and the Yen managed to pull throug – currently at
As low as possible (almost)
Ben Bernanke made a sharp move – he lowered the US interest rate to almost the lowest possible value: 0.25%. One step further, and it’s zero – nothing. The sharp 0.75 reduction in the overnight rate was anticipated by some traders, but most of them were expecting a somewhat more moderate cut of 0.50%. The
Forex Daily Analysis – December 10th 2008
The US dollar continues to weaken, amidst a growing notion that not every financial sector will be bailed out by the Federal Reserve, or the American government. This notion fueled a fear of a wave of bankruptcies. Yesterday’s Consumer sentiment data from the USA was much lower than last month’s figure. A drop in consuming
How Low can Interest Rates Go?
The Federal Reserve has already lowered the interest rate to 1%. This is the lowest ever interest rate. Bernanke is following the footsteps of his predecessor, Greenspan, in an effort to stimulate the economy. In the current global crisis, which is definitely the biggest since the great depression, these low interest rates don’t seem to