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April 6
2008

Carnival of Forex Trading — April 6, 2008

Welcome to the April 6, 2008 edition of Carnival of Forex Trading. Sagar presents 10 Surprising Economic Implications of a Barack Obama Presidency posted at Currency Trading.net. Heather Johnson presents How to Adopt the Traits of a Successful Trader posted at FOREX EDUCATION | FOREX TRAINING. Heather Johnson presents 4 Easy Ways to Avoid Forex Scams posted at Short-Term Trading. Heather Johnson presents 3 Lesser Known Factors Affecting the Forex Markets. posted […]

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April 5
2008

Forex Technical Analysis for 04/07—04/11 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: hold. EUR/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5147 1.5328 1.5533 1.5714 1.5919 1.6100 1.6305 GBP/USD 1.9436 1.9583 1.9756 1.9903 2.0076 2.0223 2.0396 USD/JPY 95.07 96.94 99.20 101.07 103.33 105.20 107.46 EUR/JPY 151.74 […]

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April 4
2008

Dollar Volatile after Employment Situation Worsens

EUR/USD was growing through the day on Forex today, but after the employment data for March was released there were a sharp but very short-term spike, after which the currency pair started to fall. That’s not a usual and expected behavior for the dollar to grow after the bad job data releases. Nonfarm payrolls in March dropped 80k approving its declining trend. […]

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April 4
2008

Dollar Aimed for Weekly Gain over Yen

The U.S. dollar is heading for the fastest weekly gain in more than four years versus the Japanese yen as the financial markets get a feeling of relief from the crisis. Yen was a favorite safe haven currency since the beginning of the financial crisis in U.S. and the global stock market slump. The low yields and the high security of the Japanese bonds […]

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April 3
2008

Canadian Dollar Continues Appreciation

The Canadian dollar continued its two-day growth against the U.S. dollar and the Japanese yen today, as the commodity markets showed that are still able to grow. Canada’s dollar touched the two-month low against the U.S. dollar on Tuesday, but started to recover quickly after that and finished every day of the current month with a moderate gain. Rising commodities’ pices boosted […]

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April 2
2008

Dollar Down on Factory Orders

Dollar failed to sustain the growth that it has been showing recently and today it fell down against euro to 1.5662 from the opening at 1.5621. Although it tried to rally again earlier today, traders didn’t felt that positive about the U.S. currency. Factory orders in February disappointed the market participants — they fell 1.3%, while the consensus forecast was at -0.8%. Still this decline was better […]

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April 2
2008

Dollar Stops Its 2 Days Growth

The U.S. dollar stopped its 2 days growth period and started to go bearish against other currencies today after the Asian trading session ended. Investors’ attention turned to the Fed chairman Ben Bernanke’s testimony before the U. S. Congress that is scheduled for today. Dollar continued its growth against the euro and the Japanese yen during the Asian trading session, but halted it and […]

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April 1
2008

UAE Studying Dirham’s Peg to Dollar

The United Arab Emirates government has established a new committee, which purpose is to study the possibility of scrapping the dirham’s peg to the U.S. dollar and the reasons to maintain this peg. According to the prime minister Sheikh Mohammed Bin Rashid Al-Maktoum, the study will focus on the benefits of staying with the peg or not. And the results of the study will be reported to prime minister. […]

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April 1
2008

U.S. Dollar Rallies on Better than Expected Manufacturing ISM

Despite the fact that the ISM PMI for manufacturing sector is still below the significant 50 level and the construction spending continued to fall in February, today’s economic releases inspired the stock market’s rally and the strengthening of the U.S. dollar. EUR/USD fell down from 1.5763 to 1.5582, making this day’s fall already a second largest in the last two weeks. Construction spending in February decreased at a lesser extent […]

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March 31
2008

Pound at New All-Time Low vs. Euro

The currency of the United Europe reached a new record high level against the British pound today as the estimate for the consumer inflation in Eurozone rose unexpectedly in March. As it was reported by Eurostat today, the CPI growth in Euro area is now estimated to be at 3.5% for March, after a 3.3% growth on the price index in February. ECB targets annual inflation at 2%. Taking in attention such a rapid […]

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