Breaking News
March 19
2008

Was It the Last Rate Cut in Cycle?

Yesterday the Federal Reserve lowered the benchmark interest rate from 3.00% to 2.25% to help the banking institutions during the times of global financial turmoil, but will the investors’ expectations for the further cuts be satisfied? The markets reacted very positively on the interest rate cut yesterday with a record breaking 4.2% growth on S&P 500 Index. Even the U.S. dollar, which usually suffers […]

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March 18
2008

EUR/USD Unchanged on Mixed Fundamentals

EUR/USD remained mainly unchanged after today’s releases of the macroeconomic statistics in U.S. The overall trading day was bullish for the currency pair — it rose from 1.5715 to 1.5783, but it failed to set a new record high level today. The yesterday’s high value at 1.5902 remains the highest rate that EUR/USD ever reached on Forex. Building permits in February fell down from 1,061k to 978k, while only a mild drawdown […]

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March 18
2008

Australian Bank Lower U.S. Dollar Forecasts

According to Australia’s largest mortgage provider, Commonwealth Bank of Australia, the U.S. dollar will perform worse than experts previously expected for this year. The strengthening financial crisis in the United States forced the Federal Reserve to cut rates at a greater pace than it was expected in the bank’s previous forecast. The  U. S. dollar has already dropped about 5% against the Australian dollar and 3.9% against […]

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March 17
2008

Dollar at New Lows against Euro, Yen

The U.S. dollar went down to the new record low levels against the European and Japanese currencies today during the Asian trading session on Forex as the Federal Reserve cut the discount interest rate in emergency. The global financial crisis continued to press on the dollar even on weekend, when the destiny of the Bear Stearns was decided and the Federal Reserve cut […]

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March 17
2008

Dollar Weakens on Bad Manufacturing Indicators Report

The EUR/USD currency pair reached its new absolute maximum earlier today at 1.5902, but it has significantly corrected already and is trading around 1.5750 level. The first falling indicator that went out today to negatively affect the financial situation on the global market and weaken the U.S. dollar further was the NY Empire State Index for March, it decreased from -11.7 to -22.2, its new […]

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March 16
2008

Forex Trading Education

As you can see there are huge potentials to make profits on the Forex. But like any financial market, there are risks associated with Forex trading, and even the most experienced of traders makes a wrong decision every once in a while that ends with them losing a large sum of money. Because the Forex market is such a volatile and unreliable market, it is absolutely necessary that you have a thorough knowledge of trading […]

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March 15
2008

Forex Technical Analysis for 03/17—03/21 Week

EUR/USD trend: hold. 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 1.5001 1.5141 1.5407 1.5547 1.5813 1.5953 1.6219 GBP/USD 1.9591 1.9793 1.9993 2.0195 2.0395 2.0597 2.0797 USD/JPY 92.74 95.82 97.43 100.51 102.12 105.20 106.81 EUR/JPY 149.38 […]

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March 14
2008

EU Leaders Include Strong Euro Reference

European leaders decided to include the strong euro reference to their two-day Brussels meeting conclusion, which is to be released today. Earlier today, this conclusion was expected to come out without a notice about the fast appreciation of the euro against the U.S. dollar. But that point didn’t please the French delegation including the president Nicolas Sarkozy. The French finance authorities started to insist on some […]

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March 14
2008

Not a Single Day Without Dollar’s Antirecord

During the last nine days, only one day didn’t bring a new absolute record level on EUR/USD; it was last Friday, March 7. Today EUR/USD reached a new maximum value at 1.5687 renewing the yesterday’s record at 1.5644. In February seasonally adjusted CPI didn’t change at all according the report of the Bureau of Labor Statistics. In January it grew by 0.4% and for this month the majority of the market analysts expected a 0.3% […]

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March 14
2008

Yuan at Highest Rate since 2005

The Chinese yuan rose to its new highest rate against the U.S. dollar since the end of a currency’s peg to the dollar in 2005. The dollar weakened on the international currency market this week as a lot of the disappointing macroeconomic statistics along with the Fed’s readiness to cut the interest rate pressed on the U.S. currency. Meanwhile high inflation rate in China pressed on the government for a faster […]

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