Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Thursday, December 11, 2008
U.S. Dollar Continued Topping Action / Currencies / Futures Trading
By: ForexPros
The USD lost ground today after a mixed open this morning; traders note that volumes remained lighter but there was no doubt which side the orders were on. After a slightly higher open in Equities this morning the prospects for the USD tracked the rise and fall in Equities during the day; turning lower into mid-day stocks posted losses before recovering to trade back through the opening range. The majors tracked the rise and fall through the day ultimately to end better on the day but off the traded highs. Read full article... Read full article...
Thursday, December 11, 2008
British Pound Heading for Parity Against the Euro / Currencies / British Pound
By: Nadeem_Walayat
Sterling continued its Crash of 2008 by falling to a new all time low against the Euro by trading below 1.14, which is just another marker enroute towards parity to the Euro as investors and speculators continue to adjust to the deteriorating fundamentals of record low interest rates, economic stagflation and an exploding pubic sector debt burden that is likely to cripple the British economy for many years AFTER the recession of 2009. Already some Bureau De changes are offering an exchange rate to the Euro of just 1.04.Read full article... Read full article...
Wednesday, December 10, 2008
U.S. Dollar Under Pressure / Currencies / Forex Trading
By: ForexPros
It was a disappointing day today for equities traders as the follow-on buying seen overnight failed to inspire traders in New York today; the DJIA shed over 200 points near the end of the day putting pressure on USD bears. Crude oil lost over $1.50/BBL as well putting conflicting fundamentals in play for equities traders. The net result for traders in the majors was solid two-way whipsaw over the course of New York trade; EURO rallying to post a nine-day high at 1.3002 looking very much like a test of the resting stops rumored to be at the 1.3030 area untouched before dropping back as equities gave back recent gains. Read full article... Read full article...
Tuesday, December 09, 2008
U.S. Dollar Weakens Amidst Signs of Easing Credit Crisis / Currencies / Forex Trading
By: ForexPros
Higher equities on follow-on strength from overnight positive stock prices helped to lift the majors against the USD with most pairs setting new highs against the Greenback in late trade. GBP regained the 1.4900 handle but still off the Asian highs of 1.5051 in New York; traders note that spillover strength from EURO is helping to hold GBP firmer. Additionally, cross-spreaders continued to buy Sterling on the crosses also bringing the upside in focus. Today’s close over the 1.4940 area is the highest close in six days suggesting a near-term bottom may be forming in that rate. Read full article... Read full article...
Monday, December 08, 2008
U.S. Dollar Two Way Action Following Interest Rate Cuts / Currencies / Forex Trading
By: ForexPros
The USD is lower to start New York after a quiet steady open in Asia overnight; traders note trading was subdued in early trade but appetite for the Yen crosses finally began to push the USD lower. Technical trade was the rule as no real unexpected news was released . Falling back from Friday’s highs the Greenback failed at several key technical support levels across all major pairs to start the week on the defensive. Equities were higher across the board with all major bourses in the black by several percent helping to support their respective currencies. Read full article... Read full article...
Saturday, December 06, 2008
U.S. Dollar Bull Market Thriving on Bearish Skeptics / Currencies / US Dollar
By: Money_and_Markets
Jack Crooks writes: I was doing some research earlier in the week, and I came across a blog I'd never heard of written by a guy I'd never heard of on a topic that we've all most certainly heard of … the U.S. dollar.
It was the same old story that's been beaten into the ground:
Read full article... Read full article...
Thursday, December 04, 2008
GBP and EURO on Hold Pending Interest Rate Decisions / Currencies / Futures Trading
By: ForexPros
The USD continued in solid two-way action driven mostly by the changing fortunes of stocks the past 24 hours. Traders note that most of the volume in the major pairs was ahead of the London fix when equities prices were higher in New York; likely a late sell-off on the release of the Fed’s Beige Book contributed to the decline in stocks late in the day .Despite the heavy focus on equities today, lower Gold and Oil prices helped to help underpin the USD across the board but most pairs didn’t extend past early New York volatility this morning. Read full article... Read full article...
Wednesday, December 03, 2008
U.S. Dollar Continues to Consolidate Ahead of Non Farm Payrolls / Currencies / Forex Trading
By: ForexPros
Despite a weaker open and a test of near-term S/R the USD has recovered to post highs against some pairs as intraday volatility continues. Equities faded into the middle of the day unable to hold early gains helping to push the majors to lower prices in two-way volatility. Crude giving up gains also was a factor for lower EURO pricing traders say but for the most part the majors are struggling to hold support against negative sentiment as traders continue to wait for signs that the financial crisis is mitigating. Read full article... Read full article...
Tuesday, December 02, 2008
US Dollar Strength Likely to Stall Due to Dismal Fundamentals / Currencies / Forex Trading
By: ForexPros
Falling equities, weaker US economic data and fear of larger than expected rate cuts by the ECB and the ECB later this week kept the pressure on the majors today as GBP, EURO, Swissy and CAD gave back recent gains. Traders note stops were part of today’s trade but thin conditions remained a contributing factor likely making the moves a bit bigger than would normally be the case. Read full article... Read full article...
Monday, December 01, 2008
US Dollar Strong on Seasonal Tendencies / Currencies / Forex Trading
By: ForexPros
The USD is mixed in early New York after trading two-way and technical during the holiday shortened week. Traders note that a weak start to the week in Gold and Crude Oil is helping to support the USD overnight. Traders note the USD is holding roughly within existing ranges but that some stops were noted as the EURO and GBP crossed last weeks’ opening range suggesting some technical trading continues in two-way action.Poor UK economic data pressured GBP in overnight action pushing the rate to a low print of 1.5010 in late European trade; traders note stops on a break of the 1.5120 area in size. Read full article... Read full article...
Monday, December 01, 2008
Britain to Give up the Pound and Join the Euro? / Currencies / British Pound
By: Nadeem_Walayat
It seems that every few weeks more panic measures are announced by the UK government as it is forced to take drastic action in the face of a collapsing financial system and economy slumping fast into recession. First came Septembers ban on short selling of banking stocks, followed by the £500 billion budget busting bank rescue in October, then the panic interest rate cuts, and most recently the emergency VAT cutting budget, now speculation is growing as discussions are leaked that Britain is moving towards joining the Euro as alluded to by the
European Commission President Jose Manuel Barroso whilst speaking on French TV and radio Sunday:Read full article... Read full article...
Wednesday, November 26, 2008
Deleveraging Pushes Up the U.S. Dollar / Currencies / US Dollar
By: John_Browne
In view of the economic crisis facing the American and global markets, the recent strength of the U.S. dollar has confounded analysts. After all, the global economic problems essentially emanate from the United States and one would assume that the collapse of our economy would drag our currency down. That has not, as yet, transpired. The explanation can be found in a financial concept known as deleveraging.Read full article... Read full article...
Wednesday, November 26, 2008
U.S. Dollar Continues to Sketch in a Significant Top / Currencies / Forex Trading
By: ForexPros
The USD continued to slide today after the release of benign US Q3 GDP estimates; traders note that early USD strength was stop-driven on low volume suggesting that the Greenback is running out of committed buyers as we head into a holiday shortened week. Analysts remind that year-end book-squaring will likely add a bit of pressure to the USD and technical factors are not positive after the turnaround seen the past 72 hours or so. Read full article... Read full article...
Tuesday, November 25, 2008
U.S. Fed's Quantitative Easing Extends Dollar Seasonal Reversals / Currencies / Forex Trading
By: Ashraf_Laidi
Today's latest liquidity drive from the Federal Reserve gives a fresh jolt to risk-seeking trades, extending my scenario of seasonal reversals in currency and commodity markets put forth last week , typical of the last 5-6 weeks of the calendar year, whereby markets reverse the flows prevailing in Sept and Oct. In this case, the lower yielding dollar and yen sustain fresh damage, reversing the gains posted in Oct and Sept. Such reversal is seen prolonged into mid December. Read full article... Read full article...
Tuesday, November 25, 2008
U.S. Dollar Continues to Slide as Equities Rally / Currencies / Forex Trading
By: ForexPros
The USD continued to slide into late afternoon trade pushing the majors to late highs as equities continued to climb posting solid gains and holding them into the close. Traders note that much of the day’s action was driven by stops as the majors climbed to new weekly highs in some pairs. Major support/resistance in several pairs helped to drive fresh USD selling as well and the speculation is high that the USD will face follow-on long-liquidation into Tuesday’s trade. Read full article... Read full article...
Monday, November 24, 2008
U.S. Dollar Putting in a Top as Risk Aversion Diminishes / Currencies / Forex Trading
By: ForexPros
The USD is under pressure this morning after starting a holiday-shortened week about flat in Asia. Tokyo had a holiday today leaving a lot of Asian players on the sidelines making for slow and thinner trade; traders report that stops are building on both sides of the market after last week’s neutral close and Friday’s USD retreat. Equities provided a bit of lift to the majors as follow-on buying of Asian markets and Europe holding firm ahead of US trade. DJOA futures are called to open higher on Wall street which is no doubt keeping the majors on the offensive to start the day. USD/JPY rallied higher with equities as expected but was unable to clear above the 96.00 handle with any conviction; high prints at 96.09 were offered to cap the rate before heading lower. Read full article... Read full article...
Friday, November 21, 2008
U.S. Dollar Technical Analysis and Forecast / Currencies / US Dollar
By: Joseph_Russo
Casting aside fundamental arguments relative to the long-term viability of un-backed fiat currency, we turn our focus to a purely technical assessment of the past 8-years of price data for the US dollar index.
Technical Tools used in our assessment are the following:
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Thursday, November 20, 2008
Seasonal Currency Reversals and Implications of Zero Fed Interest Rates / Currencies / Forex Trading
By: Ashraf_Laidi
Although currencies ended up adopting their usual path of following the swings in risk appetite, it's worth explaining Wednesday's earlier spikes in EURUSD and GBPUSD. The moves were a result of broad dollar selling (also seen in a $25 rally jump in gold) on reports that Iran was pushing ahead with its nuclear program. The International Atomic Energy Agency found stated an increasing build up of enriched uranium stockpiles, which could be converted into weapons-grade material. Read full article... Read full article...
Monday, November 17, 2008
U.S. Dollar Bullish Worlds Reserve Currency Dynamics / Currencies / US Dollar
By: Money_and_Markets
Jack Crooks writes: It's times like these when I'm really glad that I haven't devoted myself to trading in the stock and commodities market. Sure there's money to be made, even on the downside.
However, the dynamics of the currency market are far more appealing to me … especially at a time like now when good companies and bad companies are tossed into the same rinse cycle and hung out to dry by fiscal and monetary policy decision-makers.
Read full article... Read full article...
Friday, November 14, 2008
The G-20's Secret Credit Crash Debt Solution / Currencies / Global Financial System
By: Money_and_Markets
Larry Edelson writes: If you think this weekend's G-20 meetings in Washington are only about designing short-term fixes to the financial system and regulatory reforms for banks, hedge funds, brokers, mortgage companies and investment banks … think again.
Behind the scenes, a far more fundamental fix is being discussed — the possible revaluation of gold and the birth of an entirely new monetary system.
Read full article... Read full article...