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Author: admin_mm
March 82008
Dollar Loses 4th Straight Week vs. Euro
The U.S. dollar has lost a fourth straight week against the European currency (and against the pound and the yen as well) as the whole week was filled with the bad economic news from the United States. The Fridays unexpected drop in the non-farm payrolls brought the dollar to a new historical minimum against the euro at 1.5454 euro/dollar. Surprisingly enough, it was the only […]
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March 72008
Nonfarm Payrolls Depress Dollar
Dollar went straight down today on the currency market after the U. S. Bureau of Labor Statistics released its report on the Februarys stressed employment situation. EUR/USD reached 1.5454 a new historical maximum on the release, but then corrected significantly and now (as of 16:00 GMT) is trading at 1.5345. Nonfarm payrolls in February decreased by 63,000 compared to the 22,000 decrease in January. Market analysts forecasted 25,00 growth for the last month, but they […]
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March 72008
Forex Reserves at Record $1.01 trln in Japan
Japanese foreign exchange reserves rose to a new absolute maximum value last month almost $1.01 trillion. A $11.9 billion change is attributed to the growth of the euro against the dollar, which was significant in February. Reported by the Ministry of Finance Japan countrys reserves remain among the highest in the world only China possesses bigger foreign exchange reserves in their U.S. dollar value. Februarys gain was a second straight record setting for Japans reserves this year after a gain […]
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March 62008
Is 1.5400 a Limit for EUR/USD?
Today EUR/USD renewed its historical maximum on Forex market again. With almost every day for this currency pair being positive in gain, the question arises where will it stop? So, where is the medium-term resistance for EUR/USD? Is it 1.5400? 1.5000 was a major psychological barrier; after it was broken recently the EUR/USD has already reached 1.5372. In my opinion, dollar will continue to fall for as long as the […]
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March 62008
U.S. Dollar Declines Ahead of ECB, BoE Meetings
The U.S. dollar continued its weekly decline today, as the market participants awaited the results of the European Central Bank and the Bank of England monetary meetings. The yield difference between the short-term European bonds and the U. S. Treasuries are at its widest value in 15 years. This fact forces more investors to convert dollar to euro in order to buy the more yielding assets. The analysts expect that the ECB will keep the rates unchanged today at 4.00% the 5-year high […]
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March 52008
Pound at All Time Low against Euro
The Great Britain pound fell to its lowest historical value against the euro today after the pessimistic economic news were released in UK. Pound also lowered against other major currencies today. Two major news releases came out today in UK consumer confidence and new permanent jobs. The labor market in February was declining according to the KPMG and the Recruitment and Employment Confederation. They reported that the number of the new workers […]
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March 52008
Dollar Continues to Lose Positions
Dollar continued to lose its positions on Forex market today. After the major economic releases came out in U.S. EUR/USD touched a new absolute maximum at 1.5300 and even GBP/USD recovered from the weekly bottom, which was formed after the bad macroeconomic statistics in was released in U.K this morning. Productivity in the non-farm sector of economy in the fourth quarter of 2007 grew faster than expected at 1.9%, […]
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March 42008
Australian Benchmark Rate Set to 7.25%
The Reserve Bank of Australia increased the national benchmark rate for the second time in 2008 from 7.00% to 7.25%. The last time interest rate was increased on the 5th of February. Currently benchmark interest rate in Australia is the highest since 1996. RBA believes that the recent borrowing tightening contributed to the slowing of the inflation as the consumers began to spend less: Having weighed both the international and domestic information available, the Board concluded that a further tightening in monetary […]
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March 42008
BTRFX Unlisted from Brokers List
I had to remove Boston Trading and Research form the my Forex brokers list, because judging from their website BTRFX is no longer a retail broker. Now they offer managed Forex accounts and are performing quite well (according to BarclayHedge). Personally, I wouldnt trust them too much, because they dont seem to be registered with any U.S. or international regulator. According to some Forex related forums posts (babypips.com and […]
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March 32008
JPY Grows on Stock Plunge in Japan
The Japanese yen rallied today during and after the Asian trading session, as the stock market in Japan plunged rapidly today. The risk-averting investors massive sell-off cut the NIKKEI 225 index by almost 4.5%. The yen ended the last week on Forex with a significant gains against U.S. dollar, Australian and New Zealand dollars, euro and pound. It happened, because bad economic statistics in U.S. spurred pessimistic sentiments on all stock markets, leading to the growth […]
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