Breaking News
November 29
2007

GDP Data Released in U.S. Today

EUR/USD confirmed its downtrend intentions today falling from yesterday’s retracement to 1.4740 level. One of the reason for a stronger dollar can be seen in expectations for the increased real GDP growth in third quarter of 2007. U.S. Bureau of Economic Analysis released its preliminary report on real Q3 Gross Domestic Product. The growth was higher than the previous advance value for third quarter — 4.9% against 3.8% and the same as analysts expected […]

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November 28
2007

Dollar Bouncing Up

U.S. Dollar gained 0.5% against euro today after the Abu Dhabi government bought a $7.5 billion stake from Citigroup Inc. This sum will help Citi to recover from the recent subprime lending write-offs, as this bank announced surprisingly high losses from this kind of lending. EUR/USD fell below 1.4800 mark after a good fundamental signal […]

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November 28
2007

Chinese Yuan on the Road to Revaluation

Chinese yuan will definitely see a some kind of revaluation against dollar and other major currencies soon. Jean-Claude Trichet spoke today about his latest endeavor to convince China government to make confident steps towards stronger yuan policy. From his words the Chinese central bank understands the concerns of their trade partners and the steps will […]

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November 28
2007

EUR/USD Retraces After Bad Fundamentals

EUR/USD seemed almost completely independent of the important fundamental indicators which were signaling the worsening economical situation in USA. EUR/USD was falling by more than 100 pips during the day, but then it returned to a more moderate loss — 50 pips. Manufacturers’ durable goods orders in October 2007 decreased by $0.9 billion which is 0.4% the previous month value. The consensus forecast for this value was at 0%, meaning […]

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November 27
2007

Canadian Continues to Fall

Canadian dollar depreciated to its monthly lows today after global commodities prices went down. The OPEC warned that they might increase the oil output to counter the possible economical slowdown on oil-importing countries. That message caused a decline in oil prices. Canada is one of the world’s largest oil exporters which is not in OPEC. Decreasing oil prices make Canadian currency less attractive to foreign buyers. USD/CAD […]

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November 27
2007

Consumer Confidence Lowest Since 2005

In November Consumer Confidence Index, surveyed by the Conference Board Inc., fell by 8.3 points to its lowest value since 2005. It decreased from 95.6 in October to 87.3 this month. Consumer confidence is the important measure of the consumers’ readiness to spend money and take credits. When this index falls so sharply, it usually means that U.S. economy is experiencing a slowdown or even a recession. Contrary to the declining confidence […]

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November 27
2007

Indian Rupee Continues Decline

Indian rupee continued its decline against U.S. dollar started more than a 10 days ago. Fueled by the demand for foreign oil, dollar buying weakens rupee as the interbank Forex traders massively sell rupees. Rupee is falling since November 14, when the carry trade slump started to affect Indian economy. With higher global volatility investors decreased their appetites for the risky Indian equities and thus the Indian […]

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November 26
2007

Canada Confirms Dollar Too Overvalued

Canadian Prime Minister, Stephen Harper, confirmed yesterday that his vision of latest CAD’s fast and strong appreciation against USD coincides with the opinion stated by Canada’s Financial Minister Jim Flaherty. The surprisingly high strengthening of Canadian currency bears highly speculative nature and is essentially harmful to the Canada’s economy. Canada already felt the effect of its currency appreciation as the retail sales and factory orders showed  a worse than expected […]

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November 26
2007

Future of Carry Trade – U.S. Dollar

U.S. dollar is likely to replace Japanese yen on the carry trade arena as the short currency. According to the currency pairs yield analysis, Great Britain pound, Brazilian real and Hungarian forint combined made over 17% against dollar this year, while buying those currencies against yen yielded only 9%. Anticipated recession in U.S. is one of the reasons fueling dollars decline. Federal Reserve had to cut rates […]

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November 26
2007

Free Forex Webinar

Today I’ve “attended” a Forex trading webinar by http://www.fxinstructor.com. FXOpen informed me via the MetaTrader 4 mail message that FX Instructor will be holding a free technical analysis on-line lessons on November 26th. The webinar lasted through Asian, European and New York sessions with two hour and a half breaks. The communication via hotCam software went smooth and interactive. There was a chat window, where everyone could […]

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