Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
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...
Friday, November 14, 2008
U.S. Dollar Rallies Due to Global Destruction of Fiat Currencies / Currencies / Fiat Currency
By: Andy_Sutton
While at first glance it might appear that this missive would be about global equity markets, such is not the case. However, it might as well be. With bad economic news rolling off the presses daily, equity markets have taken quite a tumble recently albeit in much quieter a fashion than in late September and early October. It is a pretty good bet that the combination of 516,000 first time unemployment claims this past week coupled with a 2.8% drop in retail sales in October won't help matters much. Read full article... Read full article...
Thursday, November 13, 2008
The US Dollar Has Got To Go! / Currencies / US Dollar
By: Chris_Galakoutis
It is clear that the United States has relied on a continuous cycle of debt growth to fuel its economy. The engine of the US economy has been the US consumer, and consumer debt had to expand at a rate that far outpaced negligible consumer income growth in order for the US economy to continue to “grow.”Read full article... Read full article...
Monday, November 10, 2008
Icelands Currency Collapse Impact on Icelanders / Currencies / Financial Crash
By: David_Haas
I've been watching for an “on the street” report to bring to your attention what can happen to the citizens of a country whose currency is failing. As fate would have it, an exceptionally good story has finally shown up. We should all take this opportunity to learn from this chance insight into exactly what happens in the lives of people who must go through this rapid form of systemic financial break-down. Wherever you are around the world, you never know when this knowledge might come in handy in your own country.Read full article... Read full article...
Sunday, November 09, 2008
Jump on Board the Global Capital Stampede to the Japanese Yen / Currencies / Japanese Yen
By: Money_and_Markets
Jack Crooks writes: Last year I dedicated several Money and Markets columns solely to my expectations for the Japanese yen carry trade to unwind. But since that trend took a breather in the middle of this year, I haven't been keeping you up to speed.
Let me get you caught up today.
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Friday, November 07, 2008
How to Survive the Coming US Dollar Collapse / Currencies / US Dollar
By: Christopher_Laird
Now that the US election is over, we get to think about the Future. And, no matter how you look at it, the entire world, the West particularly, is in for tough sledding financially.
First, we will continue to battle an emerging economic slowdown. Then, later, we will be battling world currency instability – we already have signs of this now.
Read full article... Read full article...
Thursday, November 06, 2008
British Pound Weakens Ahead of Interest Rate Cut / Currencies / British Pound
By: Nadeem_Walayat
Sterling weakened from yesterdays level of £/$1.61 trading down to £/$1.59 ahead of today's anticipated rate cut which earlier analysis suggested could be as much as 1%. However the Pound is extremely oversold following its 25% crash from the high of £/$2.11 all the way to £/$1.53, this suggests that even a 1% cut would result in limited downside action until sterling has managed to work out its oversold state.Read full article... Read full article...