Post Tagged with: "weekend gap"
Trading Sunday Gaps
Recent weeks have opened with significant Sunday / weekend gaps in quite a few currencies, with EUR/USD standing out in a sharp move. Trading in the early hours of the week isn’t for everyone. For many people, it just collides with their personal life – it is Sunday night in Europe and Sunday afternoon in
GBP/USD Closes Gap and Pushes Higher On Inflation
British CPI came out higher than expected, with consumer prices rising by an annual rate of 3.4%. This fueled GBP/USD – it closed the weekend gap and broke above a critical line. Will it continue riding north? British CPI rose from an annual rate of 3% to 3.4%, getting close to this year’s high of
G7 Optimism – Bad for the Dollar
G7 Finance ministers expressed optimism in their meetings this weekend. This optimism ignites risk aversion which isn’t good for the US dollar, and might send other currencies higher against it. Finance ministers of the Group Of Seven met this weekend in Washington DC to discuss the state of the global financial crisis. These finance ministers,
Another Bad Friday for the Euro
Jean-Claude Trichet continues to send hesitant signals. This is bad for the Euro. The Euro could dive to the mid 1.20s next week, as the situation in Europe is dire. Very dire. Last week, most markets were closed due to the Easter celebrations – Good Friday. The Euro didn’t enjoy Good Friday, and it went
Aussie Settling Above 0.7000
AUD/USD encountered short term resistance on the psychological 0.70 level, but with the help of Philip Lowe, RBA assistant governor, it now trades above this level, looking up to major resistance. AUD/USD, one of my favorite currency pairs, began the forex trading week with a weekend gap of about 60 pips. During the Asian and European
Toxic Asset Plan – Toxic for the Dollar
Timothy Geithner is due to present the plan to relieve US banks from toxic assets. While this is intended to be a Public-Private plan, funding this scheme may, yet again, result in printing US dollars – sending the greenback down. It already happens now, before the announcement. US Secretary of Treasury, Timothy Geithner, is due
Bank Nationalization Fears To Hurt Euro
The European mini summit in Berlin supplied so headlines about bank nationalization and regulation. This could trigger the EUR/USD to open the forex trading week lower – with a weekend gap. Bank Nationalization was highly debated in the European mini-summit in Berlin. Although both EU leaders and ECB’s Trichet talked against nationalization, this issue is
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