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March 13
2009

January Trade Balance Report Doesn’t Help Dollar vs. Euro

EUR/USD continued to grow for the fourth day today despite the better than expected U.S. trade balance deficit and the negative export/import price changes. EUR/USD is now trading near 1.2907 after reaching as high as 1.2956 earlier — the highest level since February 23. Export prices fell by 0.1% in February in U.S. after increasing by 0.5% a month before. Average import prices went down by 0.2% last month […]

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March 13
2009

New Zealand Dollar Surges to Monthly High

The New Zealand dollar propelled to the monthly high against the U.S. dollar today, rising for the second day, as the stock marked continued to grow globally, improving the appeal of the higher yielding currencies. The Australian counterpart of the NZD also rose today against the other major currencies but not at such a fast pace as the New Zealand dollar. The commodity […]

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March 12
2009

Yen Gains vs. Dollar for Third Day

The Japanese yen rose against the U.S. dollar for the third day in a row today as the global recession boosted the demand for the «safe haven» currencies, decreasing the attractiveness of the high-yielding assets. The yen also advanced significantly against the euro and the British pound that are vulnerable both to the yen and the dollar during the times […]

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March 12
2009

Euro is Correcting against Dollar as Fundamentals Show Recession

EUR/USD stopped growing today and the dollar gained slightly against the euro for the first time in three days after the fundamental reports from the United States showed that the world’s biggest economy is still in recession. Currently EUR/USD is trading near 1.2767 after reaching as low as 1.2731 today. Initial jobless claims were at 654k last week — up from 645k reported for a previous week (revised […]

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March 11
2009

Yen Gains as Chinese Exports Slump

The yen rose today against the other major currencies on Forex as the China’s exports declined at a record fast pace and the largest Swiss bank reported an increased loss. According to the China’s customs bureau’s report the country’s trade surplus declined to the lowest level since February 2006; UBS reported $18 billion loss for the year 2008. After that the Japanese yen gained mostly against the […]

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March 11
2009

EUR/USD Advances Extremely Fast, Ignores Reports

EUR/USD went up for a second day today and the gain is currently the biggest one since the early February. The today’s reports, that were quite neutral, haven’t had any important impact on the actual trading. EUR/USD is trading near 1.2815 currently. Crude oil inventories advanced by 0.7 million barrels last week after decreasing by the same amount a week before. U.S. treasury budget deficit was at $192.8 billion in February — worse than $175.6 billion deficit reported in February 2008.Analysts […]

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March 10
2009

Korean Won Rises as Asian Stocks Gain

The South Korean won rose for the third day against the U.S. dollar today as some Asian stock markets showed the growth and the high-yielding currencies were favored by the traders. The majority of the most-traded Asian currencies (except the Japanese yen) showed gains today that can be simply regarded as the correctional movement after one of the worst beginnings of the […]

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March 9
2009

Pound Falls on HSBC’s Bad Loans

The British pound fell against all major currencies today on the concerns that the United Kingdom’s largest bank will have a disastrous time handling the bad loans of its United States unit. The  U. K. currency declined against the dollar and the euro as both the U.K. FTSE 100 benchmark index and the Japanese Nikkei 225 dropped during the late Asian and early […]

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March 7
2009

Forex Technical Analysis for 03/08—03/12 Week

EUR/USD trend: hold. GBP/USD trend: hold. USD/JPY trend: sell. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2191 1.2324 1.2488 1.2621 1.2785 1.2918 1.3082 GBP/USD 1.3583 1.3769 1.3931 1.4117 1.4279 1.4465 1.4627 USD/JPY 93.54 95.06 96.64 98.16 99.74 101.26 102.84 EUR/JPY 118.07 […]

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March 6
2009

USD Falls as Financial Turmoil in U.S. Worsens

The U.S. dollar declined today against the other major currencies, after showing a good performance yesterday, as the investors expect that the labor market reports, that are to be released today, will signal a further worsening of the recession in the United States. The Japanese yen is the only major currency that is rising against the greenback for the second day today. It started to react […]

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