Post Tagged with: "Gold price"
Aussie takes a break on rises after gold and stocks fall
AUD/USD reached new highs on a rise in jobs, but this was stopped by a fall in the price of gold, and renewed dollar strength that comes from drops in the stock markets. The strength of the Australian economy should make this break temporary. This renewed dollar weakness, although it’s felt strongly in EUR/USD, isn’t
Forex Crunches for the Weekend – June 27 2009
Here are interesting forex-related reads for this weekend. All the linked articles have a scope larger than one day’s trade. Adam Kritzer dives into one of the strongest factors in the forex market: risk, and asks if risk aversion is back. Macro Man talks about ECB issues and also about the SNB intervention. Interesting and
Forex Information for the Weekend – May 2 2009
Here’s a bunch of interesting links from blogs / sites I regularly read: James Chen takes a broad technical look at the EUR/USD. Lena overviews the next phases in the Euro in the week ahead. Adam Kritzer points out China’s surging gold holdings, and how it affects the dollar. Kathy Lien explains how stress tests
Aussie Reached Initial Target – Resting Before Next Move
AUD/USD continues it’s march upwards, breaking the 0.68 resistance line. It rose on the wave of massive dollar selling that began with the shocking FOMC statement yesterday. The next resistance line is much stronger for the Aussie. AUD/USD was trading in a narrowing channel for a very long time. Downtrend resistance and uptrend support were
AUD/USD Broke Upwards As Expected
AUD/USD broke the narrowing channel I was talking about two days ago and made an upward break. Very close to the end of the week, it trades higher and aims for new targets. AUD/USD long is live and kicking. On March 11th, I wrote that AUD/USD is squeezed in a narrowing channel, and that the
AUD/USD In Narrowing Channel – Break is Close
The AUD/USD is trading between an uptrend support line and a downtrend resistance line, and it will soon have to break somewhere. Fundamentals say the direction is up. Technical: As seen in the graph below, the AUD/USD is closed by a downtrend resistance line than began with a high in September, was formed in a
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
Obama Stimulus Package to Weaken Dollar (Revisited)
Barack Obama’s stimulus Package was approved by both Congress and Senate. It narrowed down from $825 billion to 787$, but it’s still huge. Now that the final offer was approved, it’s time to look into it, and see how it will affect the dollar. On January 26th, I wrote that the stimulus package contains spilling
Will Obama’s Stimulus Package weaken the Dollar?
Less than a week in office, and Barack Obama isn’t wasting any time. He’s pushing forward on all fronts, and regarding the stimulus package on particular. Despite the plan being helpful for the American economy, it will be very unhelpful for the US dollar. Obama’s $825 billion plan is huge: it is meant to help