Blog – Page 324

December 21
2007

EUR/USD Corrects Up Before Holidays

EUR/USD played back fully the yesterday’s decline, but still ended the last week before the holiday period with a small loss. Forex market will be open despite of any holidays, but the price volatility will be low and no major movements can be expected. November personal income and spendings report turned out to be better than it was for October and not the least reason for it lies […]

December 20
2007

Dollar Steady Against Pound, Euro

U.S. dollar gained against other currencies today, showing a significant change in GBP/USD, along with a little less strong appreciation in EUR/USD. As no important positive data was released for USD, this growth may be accounted to the inertial buying of dollar and position closing on the previous good news and the loss of interest to carry trade. Final numbers for GDP growth and GDP deflator in Q3 2007 were released today, but they […]

December 18
2007

Dollar Unchanged After Housing Data

Dollar remains almost unchanged against euro even after the release of the U.S. housing data. EUR/USD grew up by about 16 pips only for the whole day with the main movement direction changing constantly. Supported by the yesterday data on the net foreign purchases, dollar doesn’t want to give up positions even after the not so good data in the real estate sector. U.S. Census Bureau released the New Residential Construction […]

December 17
2007

NY Empire State Manufacturing Index

Dollar continued to strengthen against major currency pairs (except the Swiss franc) even after the very pessimistic release of the December NY Empire State Manufacturing Index report, which fell down by 17 points to 10.3. Federal Reserve Bank of New York reported that the new orders and shipments declined significantly in December according to their survey. Among the good news was the Treasury International Capital report for October — net foreign […]

December 16
2007

New Broker and Good News from LiteForex

I’ve updated the brokers section adding another Muslim-friendly Forex broker that doesn’t charge or give any overnight interest over the open positions. While being crucial to Muslim traders this quality can be useful to other traders that prefer positions with negative overnight interest. GCI Financial is not a new Forex broker, it operates since 2002, which is rather old for the on-line brokers. […]

December 15
2007

Forex Technical Analysis for 12/1712/21 Week

EUR/USD trend: sell.GBP/USD trend: sell.USD/JPY trend: buy.EUR/JPY trend: hold. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3970 1.4191 1.4309 1.4530 1.4648 1.4869 1.4987 GBP/USD 1.9594 1.9872 2.0023 2.0301 2.0452 2.0730 2.0881 USD/JPY 108.19 109.34 111.30 112.45 114.41 115.56 117.52 EUR/JPY 158.39 160.14 161.79 163.54 […]

December 14
2007

EUR/USD Falls on Before and After CPI

EUR/USD fell down to its monthly minimum value today as the traders expected for the CPI release for November to come out. It touched 1.4468 — the lowest value since November 6 minutes after the data was released. Consumer Price Index in November rose at 0.6% annualized rate, as it was already expected by the majority of analysts, while Core CPI showed a 0.3% growth that month. Industrial production and productivity numbers gave […]

December 13
2007

EUR/USD Bearish After Excellent Economic Data

EUR/USD began the day with some slow downtrend, but continued to accelerate its bearish tendencies after news releases from U.S. showed some well above average macroeconomic stats. Advance retail sales report for November from U.S. Census Bureau showed that this indicator increased by 1.2% compared with October — much better than 0.6%, which was expected by the market analysts. The Producer Price Index […]

December 12
2007

EUR/USD Mildly Volatile on Trade Balance Data

EUR/USD was ranging today inside the yesterday’s rate limits which were formed with the bullish tendencies triggered by the Tuesday FOMC meeting’s statement. Main operational interest rate in the United States was cut by 25 basis points, which equals 0.25% — from 4.50% to 4.25%, while futures markets for the interest rate predicted a 0.50% cut. Today came out the information on the international trading balance deficit for October 2007 — it […]

December 10
2007

Forex E-Books: Two New Pieces

Two new Forex e-books were uploaded to my site today, again, they are more articles than books, but I think that they fit better in Forex books section rather than articles, because they are finely formatted into the Word documents (EDIT: I’ve converted them to PDF as a more conventional format) and are more complex than other articles. These e-books both come from Mr. […]