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Author: admin_mm
January 152008
Retail Sales for December Disappoint Dollar Bulls
EUR/USD has been ranging up and down through the whole day as the Forex traders were expecting the release of the important fundamental data today. After the retail sales report for December came out, euro started to gain at a fast pace against the U.S. dollar and broke the important resistance level of 1.4900. December advance estimate of the retails sales fell down by 0.4% after a 1.2% growth a month earlier, while a stagnation at 0% was […]
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January 152008
GBP at Lowest Level Against JPY in 17 Months
The Great Britain pound today reached its lowest value against the Japanese yen since 11th of July, 2006, continuing the strong bearish trend that has started during early November 2007. Since the pound has been a carry trade favorite long currency for a long time, it’s gained a lot of “overweight” against its Japanese counterpart — yen, and it now has a great potential in falling down as the carry trade […]
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January 142008
NZD Gains Against USD and JPY
New Zealand dollar is showing a high level breaking growth today against the U.S. dollar after the confidence in the carry trade and other high-risk investments rose on the Fed‘s rate cut expectations. NZD/USD reached its highest value since December 12 as the investors are sure that the Fed will cut the rate by at least 0.50% during the next FOMC meeting, increasing the gap between interest rates of the U.S. and New Zealand […]
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January 132008
New Science of Technical Analysis
I uploaded a new Forex e-book to the site today — it’s called “The New Science of Technical Analysis”. It was written by Thomas R. DeMark, one of the founders of the modern technical analysis and developer of the DeMark’s pivot points. This book is more suited for the experienced Forex traders, because it goes quite deep into the techniques of chart analyzing, while being not very entertaining (of course, hardcore Forex traders will be […]
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January 122008
Jouyet: European Economy Slow Due to Weak Dollar
France’s European Affairs Minister Jean-Pierre Jouyet said today in St. Julians, Malta, at the press-conference devoted to the euro’s introduction to Malta, that the European economy can’t cope with the current exchange rates of the European currency against its major foreign counterparts — yuan, yen and dollar. He also stated that other finance ministers from European regions agree on this problem and its possible solutions will be discussed on the next […]
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January 122008
Forex Technical Analysis for 01/1401/18 Week
EUR/USD trend: sell.GBP/USD trend: sell.USD/JPY trend: hold.EUR/JPY trend: sell. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4493 1.4567 1.4671 1.4745 1.4849 1.4923 1.5027 GBP/USD 1.9077 1.9280 1.9422 1.9625 1.9767 1.9970 2.0112 USD/JPY 106.41 107.40 108.12 109.11 109.83 110.82 111.54 EUR/JPY 157.35 158.64 159.71 161.00 […]
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January 112008
Chilean Target Rate Up to 6.25%
Central Bank of Chile decided yesterday to raise the main national lending rate from 6.00% to 6.25% in order to reduce the threat level of the rising inflation, which has now reached its highest level in almost ten years. The benchmark lending rate is now at its highest value since 2002. The average forecast among […]
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January 112008
Dollar Steady Even After Trade Balance Deficit Widens
The dollar showed a mild growth against the euro today even after the trade balance report showed the widening of the deficit. Against the Great Britain pound the U.S. dollar also went up, with GBP/USD hitting the lowest value since march — 1.9481, but lost the most of the gain after the trade balance release. The U.S. international trade balance deficit increased in November from $57.8 billion to $63.1 billion as the imports grew ten […]
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January 102008
Pound Down, Euro Up after Central Banks’ Decisions
Both central banks decided their monetary policy changes today regarding their main interest rates. Both Bank of England and European Central Bank left their interest rates unchanged — 5.50% and 4.00% respectively as the majority of the market experts were predicting. As the decisions were expected, they didn’t gave the speculators any surprise to trade on, but the GBP/USD went volatile immediately after the report went public, first gaining […]
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January 102008
Foreign Currency Reserves Up in Japan
Japanese Ministry of Finance released a report today regarding the country’s international exchange reserves and the foreign currency liquidity along with the structure of the overall assets as on the end of December 2007. The value of the total foreign exchange reserves accommodated by the Japan reached $973.36 billion — breaking the record high level again after gaining about $3.18 billion compared with the value at the end of November. The boost in the foreign currency reserves is attributed to the elevated demand […]
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