Breaking News
November 1
2008

Forex Technical Analysis for 11/03—11/07 Week

EUR/USD trend: sell. GBP/USD trend: sell. 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 1.1317 1.1824 1.2275 1.2782 1.3233 1.3740 1.4191 GBP/USD 1.3952 1.4615 1.5345 1.6008 1.6738 1.7401 1.8131 USD/JPY 86.15 89.10 93.78 96.73 101.41 104.36 109.04 EUR/JPY 98.23 […]

Read more
October 31
2008

Yen Gains as Rate Cut Indicate Problems

The Japanese yen gained versus the dollar, the euro and the pound today after the traders saw the signals of more troubles in the global financial system as the Bank of Japan cut the interest rate. The Bank of Japan cut the rate by 20 basis points today — lowering it from 0.5 percent to 0.3 percent, with three of the eight board members voting for reducing the […]

Read more
October 31
2008

Dollar Returns to Bullish Trend Despite Previous Losses

EUR/USD dropped today for the second day despite the correctional wave that was forming during the last three days. After peaking at 1.3288 yesterday, the currency pair is now trading near 1.2733 as the traders continue to dump other currencies and buy U.S. dollars. U.S. personal income rose by 0.2% in September, following 0.4% increase in August and slightly above 0.1% forecast. Personal spending […]

Read more
October 30
2008

Dollar Falls on Rate Cut, GDP Contraction

EUR/USD continued to rise today and showed a third day of gain on the Forex market, as the dollar fell after the yesterday’s rate cut decision. Federal Reserve reduced the funds rate from 1.5% to 1%. Another reason for the dollar’s decline were the macroeconomic indicators released in U.S. EUR/USD is currently trading near 1.3035 after reaching 1.3288 today. The advance report for the third quarter 2008 GDP […]

Read more
October 30
2008

Australian Dollar Rises for the Third Day

The Australian dollar rose against the U.S. dollar and the Japanese yen for the third day today after the rate cut in U.S. and a moderate decline in the global risk-aversion. The Aussie gained against the U.S. dollar after the Federal Reserve reduced the interest rate by 50 basis points to 1 percent. China’s central bank cut the one-year lending rate from 6.93 percent […]

Read more
October 29
2008

EUR/USD Growing and Confident Before FOMC Meeting

EUR/USD is currently showing a second day of growth as the situation with the markets is trying to turn back to less volatile and risky. Expectations that during today’s FOMC meeting U.S. interest rate will be cut to at least 1.00% is spurring the investors’ optimism. At a low, but still significant level, today’s U.S. macroeconomic releases added confidence to the global economy. EUR/USD is currently trading near 1.2962 rate after trading at as low […]

Read more
October 29
2008

Dollar Uncertain Before Interest Rate Decision

The U.S. dollar traded with an alternate success against the other major currencies as the investors are uncertain before the Fed’s interest rate meeting today and the state of the global financial system. After a strong growth on the U.S. stock markets yesterday and the second day of a reasonably fast advancement of the Asian stock markets, the investors are unsure whether to continue dumping […]

Read more
October 28
2008

Dollar Allows EUR/USD to Go Up and Pare Yesterday Gains

EUR/USD rose today for the first time after two days of decline as the decline of risk-aversion in the global economies caused the break in the current Forex trends. The fundamental from U.S. were very pessimistic today and probably won’t allow this break in the dollar and yen appreciation to hold for long. Consumer confidence dropped significantly in October — from 61.4 to 38.0 — that’s 38% drop in a single month; […]

Read more
October 28
2008

Yen Snaps Earnings amidst Intervention Talks

The Japanese yen posted the first daily decline against the euro and the pound and the second against the U.S. dollar as the Asian stock markets rebounded and the intervention talks arose in Japan. The extremely fast growth of the yen for almost 6 days set up the speculations that the Japanese central bank may use a currency interventions to support the […]

Read more
October 27
2008

Won Falls After Unexpected Rate Cut by BoK

The South Korean won continued its decline against the U.S. dollar after the Bank of Korea unexpectedly cut the interest rates by the record value of 75 basis points today, struggling against the worst crisis since 1998 Asian financial crash. The Bank of Korea lowered the country’s benchmark rate from 5 percent to 4.25 percent at an emergency meeting today after cutting the rate by 25 basis points on October […]

Read more