Posts Tagged ‘daily forex analysis’
October 20, 2010 at 6:47 am
Over the past few days, forex trading investors have been worried about the US Federal Reserve’s decision on monetary policy, causing the dollar to fluctuate a lot and fall against many of the other majors. Today, however, the dollar is able to make a comeback to gain against most of the majors.
The euro fell by some large numbers against the dollar, breaking through the 1.4000 support level to trade between 1.3925 and 1.4000. The EUR/USD pair traded at a high of 1.3999 and a low of 1.3830. The British pound also fell against the dollar. After testing the 1.5950 resistance range, the pound fell below the 1.5900 mark. The GBP/USD pair traded at a high of 1.5993 and a low of 1.5834. The yen has been trading tightly against the dollar, although it is expected for the USD/JPY pair to continue its bearish trend in favor of the yen. The USD/JPY pair traded at a high of 81.39 and a low of 81.12.
October 19, 2010 at 6:56 am
Forex trading investors have been in for a roller coaster ride over the past days as they awaited the announcements of US Federal Reserve Chairman Bernanke regarding stimulus policies. During his announcements, the dollar fluctuated widely, even falling to a 10 month-low against the euro and a 15-year low against the yen. The USD/JPY traded at a high of 81.40 and a low of 81.13, while the EUR/USD reached a low of 1.3861 and a high of 1.3895
In the US, core retail sales came out at 0.40% as expected, core CPI came out at 0% instead of the expected 0.10%, and the Fed budget balance came out at -34.50B instead of the expected -32B. Dow Jones fell by -0.29%, NASDAQ gained by 1.37%. Gold fell by -0.4% to close at $1,372 per ounce, and crude oil fell by 1.7% to close at $81.25 per barrel. In Europe, CPI results remained unchanged at 1%. Investors will have to be wary with all of the topsy-turvy changes going on in the market.
October 18, 2010 at 8:00 am
For forex trading investors, the dollar has always been a safety currency. These days, however, it seems that the dollar is under a lot of pressure, causing it to fall against many of the majors. This is in part due to worries over Federal Reserve policy, but another contributing factor is the poor economic data from the US. Initial jobless claims came out at 462K instead of the expected 449K, and trade balance also came out worse than expected at -46.40B instead of -44.50B. The Dow Jones fell by -0.01%, the NASDAQ fell by -0.24%, gold increased by 0.6% to close at $1378 per ounce, and crude oil fell by 0.5% to close at $82.69 per barrel.
The euro gained against the dollar, trading at a high of 1.4122 and a low of 1.3980. The GBP/USD pair also went up to trade at a high of 1.6067 and a low of 1.5932. In perhaps the biggest news of the day, the JPY/USD pair hit a 15-year low, trading at a high of 81.72 and a low of 80.89.
