Breaking News
July 17
2008

Yuan Declines for a First Time since Monday

The Chinese yuan showed the first declining day since Monday on Forex today as the traders were driven by the speculations that the government will let national currency weaken slightly to support exporters. Yuan declined for the first time in last three days after release of the report that the GDP growth decreased in the second quarter of 2008. Such situation may trigger […]

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July 17
2008

Housing Sector Revival Causes Further Strengthening of USD

Dollar continued to grow today against its European counterpart as the housing construction data from U.S. appeared to be much better than expected. And although initial jobless claims and Philadelphia Fed index disappointed dollar bulls, EUR/USD went down from its daily high at 1.5893 to 1.5816 today. Housing starts were at 1,066k annual seasonally adjusted rate in June after 977k in May (revised up from 975k); […]

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July 16
2008

Markets Expect Further Losses from Banks

The U.S. dollar fell against the Japanese yen today for a second day as the global financial markets expected the U.S. banks to report further losses and decrease the attractiveness of the world’s largest economy. Dollar reached its all-time low against euro yesterday after Ben Bernanke said that the economic risks hadn’t diminished yet. Today, investors are waiting for the quarterly […]

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July 16
2008

Dollar Stronger after TIC and CPI Data

EUR/USD currency pair went down slowly on Forex today after the news releases regarding Treasury International Capital and Consumer Price Index came out in U.S. EUR/USD opened at 1.5911 and quickly formed an upward spike with a highest level at 1.5948, currently it’s trading at 1.5861. CPI gained 1.1% in June after 0.6% advance in May. The median analysts’ forecast for this month increase of the CPI […]

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July 15
2008

Dollar at All-Time Low against Euro

The  U. S. dollar reached its new all-time low against the European currency and is now trading just a little below that level. After some positive economic releases came out in U.S. dollar recovered slightly but is still trading in a very dangerous zone near 1.6000 level. The new maximum on EUR/USD is 1.6038. NY Empire State index posted an unexpected increase in June, going up from -8.7 to -4.9. […]

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July 15
2008

AUD Gains on U.S. Credit Market Losses

The Australian currency rose its highest value in last 25 years against the U.S. dollar as the credit markets continued to lose on the mortgage lending crisis in the United States. The Australian dollar (also referenced as Aussie in the Forex slang) showed a fifth day of growth in a row and reached the maximum level against the dollar sine January 1983. Investors are afraid that the […]

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July 14
2008

Dollar Gains against Yen, Euro, Pound

The U.S. dollar showed the first daily growth against the euro in last four trading days after the U.S. Treasury Secretary Henry Paulson announced the government’s funding plans for the failing mortgage lending giants Freddie Mac and Fannie Mae. The dollar also rose against the other major currencies, including Japanese yen and British pounds, after the arrival […]

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July 12
2008

Forex Technical Analysis for 07/14—07/18 Week

EUR/USD trend: buy. GBP/USD trend: buy. USD/JPY trend: sell. EUR/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5388 1.5499 1.5719 1.5830 1.6050 1.6161 1.6381 GBP/USD 1.9390 1.9519 1.9702 1.9831 2.0014 2.0143 2.0326 USD/JPY 103.25 104.45 105.36 106.56 107.47 108.67 109.58 EUR/JPY 165.32 […]

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July 11
2008

Dollar Falls on Trade Balace and Budget Deficit Decrease

EUR/USD soared to the new highs near 1.5885 after the data on exports and imports was released in U.S. today. And, although the indicators came out better than expected, the dollar dropped at a very fast pace against all major Forex currencies. Import (excluding oil) and export (excluding agricultural) prices both grew by 0.9% in June. This growth followed 0.7% (revised up from 0.5%) […]

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July 11
2008

Indian Rupee Heading for Weekly Gain

The Indian rupee is more likely to end this week in a positive zone against the U.S. currency as the investors expected that the companies’ good reports will attract traders and the conversion to local currency. The India’s currency rose to its 2-week highest level today against the dollar after the report by the Infosys Technologies Ltd. showed results that exceeded the analysts’ estimate. […]

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