Breaking News
June 17
2008

U.S. Dollar Continues to on Fall Weak News

EUR/USD went up today but it failed to reach the yesterday’s gain or to go above the Thursday’s open level. The economic news from U.S. were weak except the Producer Price Index indicator, which benefit for the dollar’s appreciation is debatable. PPI in May rose 1.4%, while core PPI gained 0.2% during the same period. The forecast values were 1.0% and 0.2% respectively. May increase followed […]

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June 17
2008

Yuan Appreciates beyond 6.9 per Dollar

The Chinese yuan extended its gain against the U.S. dollar today reaching the 20 percent appreciation since the end of the peg in 2005 as the new meetings of the U.S. and Chinese financial officials will be held soon. The yuan’s gain for the period since July 21 2005 can be compared with 29 percent gain of euro versus dollar for the same period. Great Britain pound rose […]

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June 16
2008

Yen Falls as Carry Trade Attracts Traders

The Japanese yen fell significantly today against the other major world currencies as the fast growth on the Asian and European stock markets attracted more participants to the carry trade activities. Yen was used as a low-cost borrowing currency to fund the high-risk assets, including such currencies as euro, pound and the Australian dollar. All those currencies rose good today against the […]

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June 16
2008

Dollar Declines in Correction

The dollar declined today on the Forex market as the growth that it has experienced during the last week required some correction. EUR/USD currency pair went up from 1.5404 to 1.5517 today. The fundamental background was mixed today in the United States. NY Empire State manufacturing survey showed a decrease in the index — it went down from -3.2 in May to -8.7 in June, still indicating a pre-recession condition in the manufacturing sector of the […]

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June 15
2008

EUR/USD Trade Idea for the Next Week

EUR/USD daily chart is currently showing a good possibility of a bearish breakout from the range traded since April 22. You can see the present range on this picture below: If the next trading day closes below the current support line (which is near 1.5379 level), there is a great possibility of a fast drop on EUR/USD down to about 1.5000 rate. On the other hand it can fall back from the current […]

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June 14
2008

Forex Technical Analysis for 06/16—06/20 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 1.4632 1.4967 1.5173 1.5508 1.5714 1.6049 1.6255 GBP/USD 1.8931 1.9169 1.9323 1.9561 1.9715 1.9953 2.0107 USD/JPY 101.69 103.06 105.63 107.00 109.57 110.94 113.51 EUR/JPY 163.03 […]

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June 14
2008

Paulson, Lagarde, Kudrin Support USD at G8

The finance ministers from the Group of Eight nations confirmed their position in the favor of a stronger U.S. dollar at the meeting in Osaka, Japan today. The U.S. Treasury Secretary Henry Paulson said that the strong dollar «is in our nation’s interest» after the meeting today. French Minister of Finance Christine Lagarde told reporters that she’s happy to know that the U.S. financial authorities are pro […]

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June 13
2008

U.S. Dollar Headed for Record Bullish Week

The U.S. currency is heading for its biggest weekly gain since March 2005 against the European currency as the dollar benefits both from past Bernanke’s statements and the current expectations for G8 meeting. Many reasons stand behind such a fast dollar appreciation this week — among them Fed’s intention to raise the interest rate to fight the inflation and the Treasury Secretary Henry Paulson’s statement that […]

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June 12
2008

Dollar Got Pushed Up by Today’s Fundamental Reports

The EUR/USD currency pair sunk down below the yesterday’s close level as the U.S. dollar continued its growth today after some good fundamental reports were released in the United States. Both retail sales and business inventories fulfilled the dollar bulls’ expectations today. Import and export prices rose in May by 2.3% and 0.3% respectively. That growth followed 2.4% and 0.5% […]

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June 12
2008

Aussie Falls on Employment Drop

The Australian dollar fell to its one month low against the U.S. currency as the jobs dropped in May for the first time since October 2006 and the traders became more confident that the central bank won’t be raising interest rate more. The Aussie showed the worst performance today among the 16 most-traded currencies on Forex as the high interest rates may have already […]

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