US dollar is heading higher today, strengthening as Forex traders demand safe haven currencies. Economic data out of the eurozone and out of China are weighing on riskier assets today, and the greenback is getting a boost. Dollar weakness caused by the recent quantitative easing announcement from the Federal Reserve is being replaced by strength as concerns about global economic slowdown are coming to the forefront of Forex trader concerns. The latest PMI […]
Read moreJapanese yen is strengthening as risk appetite fades. Lackluster economic data, continued eurozone concerns, and general risk aversion are all sending Forex traders to safe havens like the yen. For a time, the Japanese yen was weaker on the expectation that the Bank of Japan would increase its easing efforts. Announcements that more quantitative easing would be used as economic stimulus in Japan followed the dramatic announcement of unlimited easing […]
Read moreA major part of today’s EUR/USD appeared during the late Asian and early European Forex trading sessions. The US news releases made the currency pair jump a bit before pushing it into a purely sideways movement. Initial jobless claims were reported at 382k last week, following 385k claims (revised from 382k) in a previous week. The median forecast was a decline to 375k. This release helped to push EUR/USD down […]
Read more