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January 15
2009

EUR/USD Down Despite ECB Decision and U.S. Jobless Report

EUR/USD traded near its open price for the first half of the day today but after the ECB decision to cut the rate by only 50 basis points — from 2.5% to 2% and saying that it’s not going to go lower during the next meeting, the euro gained momentum and rose a little. Nevertheless after several fundamental reports went out in U.S. EUR/USD went down significantly […]

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January 15
2009

Yen Grows on Stocks Slump and Bad Reports

The Japanese yen continued to advance today against the dollar, the euro and the British pound as the the other major currency pair are stuck in the neutral zone before the ECB rate announcement. The yen gained for the three out of four days of the current week as the stock markets declined in all the world’s regions and fell sharply in Asia today. […]

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January 14
2009

EUR/USD Little Lower after High Intraday Volatility

The plethora of the macroeconomic statistics that was out in the U.S. today moved EUR/USD up and down with a great strength during the Forex trading session. Eventually, despite the bad reading in almost all reports, the dollar took the upper hand and is now leading in its rivalry against the euro. EUR/USD is currently trading near 1.3173. Import prices fell by 4.2% in December, […]

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January 14
2009

Dollar Weakens before Important Reports

The U.S. dollar declined today against the other major currencies, except yen, after rallying for three days, as the investors sought a technical correction before some important macroeconomic reports to be released today in United States. Federal Reserve Chairman Ben Bernanke said yesterday that the new fiscal policies wont’ produce a long-term recovery effect on the whole economy, hinting that the additional […]

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January 13
2009

EUR/USD Falls for 3rd Day After Budget and Trade Deficit Reports

EUR/USD continued to fall for the third daily trading session today. It reached the lowest level since December 11 after reports on both budget deficit and trade balance deficit were released in U.S. today. Now EUR/USD is trading at 1.3194. Trade balance deficit decreased from $56.7 billion (revised up from $57.2 billion) to only $40.4 billion in November — much faster than the analysts expected (the average forecast was […]

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January 13
2009

NZD Drops as Credit Rating Outlook Revised

The New Zealand dollar dropped to the monthly low against the U.S. dollar today as the S&P rating agency revised the country’s foreign currency credit rating outlook from stable to negative. Standard & Poor’s, one of the world’s leading credit rating agencies, confirmed New Zealand’s AA+ foreign currency credit rating and revised its outlook to negative yesterday. The country’s currency reacted with a drop as the confidence in the […]

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January 12
2009

Euro Declines on Dovish ECB Expectations

The euro declined against the U.S. dollar and the Japanese yen today after opening with a rather large negative weekly gap against these currencies as the traders expect that ECB will continue rate reduction this week. The European currency fell to the one-month lowest against they yen and the weakest level since January 6 against the dollar. The currency […]

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January 10
2009

Forex Technical Analysis for 01/12—01/16 Week

EUR/USD trend: sell. 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 1.2554 1.2933 1.3203 1.3582 1.3852 1.4231 1.4501 GBP/USD 1.3664 1.4047 1.4605 1.4988 1.5546 1.5929 1.6487 USD/JPY 84.36 87.25 88.82 91.71 93.28 96.17 97.74 EUR/JPY 111.73 […]

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January 9
2009

Korean Won Declines on Rate Cut

The South Korean won continued to decline against the U.S. dollar today almost completing a third week of drop as the country’s central bank reduced the interest rate to the record low value. The decline in the global stock markets also helped the won to come down against the other currencies. Traders move out their investments from the Korean economy in fear of the recession. […]

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January 9
2009

EUR/USD Falls as Poor Non-Farm Payrolls Report Suggests Recession is Strong

EUR/USD declined today after two days of growth on the Forex market as the poor fundamental reports from the United States suggest a further slowdown of the economy and that the global recession is still active. EUR/USD is currently trading near 1.3517. Nonfarm payrolls fell by 524k in December — that’s better than 533k lost in November, but still worse than the expected decline by 500k. The overall […]

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