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Author: admin_mm
May 162008
Yen Continues Growth after GDP Report
The Japanese yen continued its growth today after the late yesterday release of the GDP report showed that the gross domestic product rose much better than everyone expected. Japans economy gained 0.8 percent in the first quarter of 2008 compared to the fourth quarter of 2007 and in a year-to-year comparison it expanded by the astonishing 3.3 percent as the exports to emerging markets helped growth during the global financial crisis. […]
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May 152008
Dollar Steady During a Wave of Macroeconomical Releases
USD recovered from its daily minimums against euro after the important fundamental reports were released today in U.S. EUR/USD has been trading with 70 pip gain today, but currently its trading near its open rate. Only net foreign purchases and Philadelphia Fed index showed some positive developments for the U.S. economy, while other releases were of a very little help […]
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May 152008
Kiwi Falls Deeper on Bad Retail Sales
The New Zealands currency continued its extremely fast drop against the other major currencies today after the retail sales report was released yesterday at 22:45 GMT. It was a third day of a bearish trend for the New Zealand dollar (at least against the U.S. dollar) as it continued the fall thats lasting from mid March 2008 when kiwi (a nickname for NZD) reached its historical maximum against […]
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May 152008
Euro Stronger on German GDP
The United Europes currency gained a new strength on the Forex market today after the German quarterly GDP data was released and the investors got more confidence in the ECBs hawkish stance. According to a report that was released today at 6:00 GMT the Germanys gross domestic product gained 1.5% in a quarter-to-quarter comparison in the first quarter of 2008 a strongest growth for the GDP indicator since 1996. This […]
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May 142008
April CPI Disappoints Dollar Bulls
While the April CPI report was expected by many Forex traders to improve the dollar positions and helped greenback gain before the actual release, disappointing CPI reading pushed EUR/USD up from its daily lows and its now trading almost without any loss (1.5459 currently with an open rate at 1.5465). CPI (all items) was at 0.2% in April thats below the March value (0.3%) and […]
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May 142008
Dollar Extends Gain on CPI Expectations
The U.S. dollar extended its gain against other major currencies on Forex today as the investors expect higher April CPI figures from the report that will be released today at 12:30 GMT. Dollar is now growing for a second day after the weak fundamental indicators were ignored yesterday and the traders reacted on the elevated export and import prices growth. Market participants expect […]
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May 132008
EUR/USD is Entering Sideways Market
Today EUR/USD fell down on Forex after a day of growth yesterday and on the daily chart the currency pairs trend is slowly transforming into a flat pattern rather than bullish or bearish trend. April retail sales in U.S. decreased as expected they dropped 0.2%, after gaining 0.2% in March. Export and import prices rose in April. Import prices increased 1.8% after 2.9% rise in March the growth […]
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May 132008
Dollar Will Lose 11% to Yuan in 2008
According to the research paper, released by United Overseas Bank Ltd., the yuan has a strong chance to appreciate further this year to the total of 11 percent gain against the U.S. dollar in 2008. The Chinese currency has rose 4.3 percent up this year already, as the government used yuan to fight the accelerating inflation. Suan Teck Kin of United Overseas Bank confirmed in an interview today the statement […]
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May 122008
British Pound Grows on April PPI Report
The Great Britain pound rose today against the U.S. dollar and the euro, partially recovering its losses from the last week, as the record high PPI growth added confidence that the Bank of England will not lower interest rates next time. The prices for the British long-term securities declined today, while their yields increased, showing a higher inflation […]
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May 122008
Forex Technical Analysis for 05/12—05/16 Week
EUR/USD trend: hold. GBP/USD trend: sell. USD/JPY trend: hold. EUR/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5001 1.5142 1.5311 1.5452 1.5621 1.5762 1.5931 GBP/USD 1.9078 1.9268 1.9403 1.9593 1.9728 1.9918 2.0053 USD/JPY 98.74 100.68 101.74 103.68 104.74 106.68 107.74 EUR/JPY 153.02 […]
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