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Day: August 27, 2010
August 272010
Euro Goes Up as GDP Surpasses Forecasts in US
The euro increased against all of its major rivals today, as the US GDP report signaled that the market participants dug themselves to deep into the pessimism of the risk-aversion and that it’s still a good idea to buy currencies near their medium-term bottoms. The euro was trading better than the British pound and the Japanese yen in the Forex market even before today’s GDP release, but added the US dollar to its intraday trophy […]
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August 272010
Japanese Yen Gives Up Some Positions
The Japanese yen gave up some of its recently conquered positions against the other major currencies as the investors continued to hold their bets on the monetary intervention in Japan. Currency intervention looks to be a nice reasons for the Forex traders to fixate their long-term profit from the short USD/JPY, EUR/JPY positions. For the scalpers, it’s also a good opportunity to profit from the short-term speculative movements. The yen rose for the third day against the British pound […]
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August 272010
EUR/USD Down on US GDP Report
EUR/USD declined after trading more-or-less inside some tight range today as the US GDP numbers improved appeal for the US dollar slightly. The drop also fits into the end-of-the-week correction process, following two days of gain on this currency pair. It’s currently trading near 1.2700. At a second estimate, US GDP increased by 1.6% in the second quarter of 2010 (year-to-year). That’s better than the forecast of 1.4% but is worse […]
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