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EUR and GBP Post Gains vs. the USD

admin — Thu, 07 Oct 2010 01:56:06 +0000

The USD went down versus the forex trading majors as it was speculated that the purchases of government debt will be kept by the FED. As for the stock markets, NASDAQ and Dow Jones went up by 2.36% and 1.8% respectively. Crude oil also posted gains by more than 1.5%, landing at a rate of $82.70 per barrel. Gold reached a new high and exchanged at $1,340 per ounce, which reflected a 1.8% increase. As for the ADP Nonfarm Employment Change, it is speculated to increase from the previous -10k to 18k. The ISM Non-Manufacturing Index posted better results at 53.2 versus the anticipated 51.8.

The pound was able to post gains versus the dollar and traded between 1.5750 and 1.5928. After exceeding the resistance level of 1.38, the euro was able to post an 8-month high versus the USD. This was amidst negative Retail Sales data, which resulted at -0.4% against the anticipated 0.2%. The EUR/USD forex pair traded between 1.3636 and 1.3858.

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GBP Rallies vs. the USD while EUR Slips

admin — Wed, 06 Oct 2010 01:20:59 +0000

With profit taking and overbought conditions controlling the forex trading market movement, the euro fell against the dollar. In euro’s case, it also didn’t help that the PPI fell to 0.1%, compared to the 0.2% forecast. The EUR/USD reached a low of 1.3643 and 1.3802. The currency pair is expected to decline further if they fall below the 1.3720 resistance level.

While the euro lost its steady ground versus the dollar, the British pound pushed through with its rally. It traded in a narrow range, around the 1.58 level, with the GBP/USD trading at a high of 1.5867 and a low of 1.5746. The currency pair might fall further if they trade below the resistance level of 1.5880.

The USD/JPY also didn’t move much, as it traded around the 83.5 level. The USD/JPY reached a high of 83.85 and a low of 83.16. As the pair breached the 84.20 support level, the dollar is on a negative momentum. Meanwhile, the US dollar was able to post gains versus the Canadian dollar, with the USD/CAD pair trading at a high of 1.0243 and a low of 1.0178.

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Debt Concerns Pull the Euro Down a Bit

admin — Wed, 29 Sep 2010 01:00:04 +0000

As signs of debt issues in the European zone resurfaced, the euro went down a bit versus the dollar in the forex trading market. Proof of the persistent debt problems are the reduced asset demands from Portugal and Ireland. However, as long as the EUR/USD pair trades beyond the 1.3350 level, the preferred option is a long position. The momentum for this pair is still bullish, with the EUR/USD exchanging at a high of 1.3506 and a low of 1.3425. The German Prelim CPI is anticipated to go down to -0.2% from 0.0%.

As for the pound, it remained almost unchanged versus the dollar. As long as the GBP/USD pair trades beyond the 1.5750 level, the momentum will remain bullish. The GBP/USD pair exchanged at a high of 1.5867 and a low of 1.5787. Against the dollar, the yen exchanged with a small range since there were no important data to influence the USD/JPY pair. The USD/JPY pair exchanged at a high of 84.37 and a low of 84.11.

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EUR and GBP Both Post Gains vs. the USD

admin — Fri, 24 Sep 2010 01:25:35 +0000

Because of all of the worries and anxiety over the US Federal Open Market Committee’s decision to support the weakening economy, the euro was able to rebound against the dollar and post some impressive gains. In fact, the euro was able to reach a five-month high against the greenback. This came as a surprise to some forex trading investors because the Euro zone didn’t even have strong economic data to bolster its push against the greenback. The EUR/USD pair traded at a low of 1.3246 and a high of 1.3440.

The British pound was also able to strengthen against the dollar with the GBP/USD pair trading at a low of 1.5600 and a high of 1.5714. In the US, both of the stock markets fell: NASDAQ by -0.63% and Dow Jones by -0.2%. Gold was able to increase on its previous record high, closing at $1,292 per ounce. Crude oil, on the other hand, weakened to close at $74.7 per barrel.

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Pound Continues to Trade on an Upward Trend

admin — Tue, 21 Sep 2010 01:45:48 +0000

On September 20th, the British pound was able to stay near its recently-established high for the month. Forex trading investors expect the GBP/USD pair to continue trading on an upward trend as the pair traded at a low of 1.5592 and a high of 1.5648.

The dollar was bolstered by risk aversion as investors turned to the dollar as a safety. The NASDAQ gained by +0.5%, the Dow Jones gained by +0.1%, crude oil weakened to close at $73.66 per barrel, and gold strengthened to $1,279 per ounce.

In the Euro zone, worries abound over the debt crisis. The euro was still able to stay at around 1.3000, as the EUR/USD pair traded at a low of 1.3031 and a high of 1.3067. It is expected that the pair will continue on a bullish trend, but perhaps not for long as worries over debt abound. As for the Japanese yen, the momentum of the USD/JPY forex trading pair is still bullish, as it traded at a high of 85.929 and a low of 85.593.

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USD Slips against Major Currencies

admin — Thu, 16 Sep 2010 01:25:15 +0000

Positive economic data from various regions around the world is raising the confidence of forex trading investors in global recovery. As a result, many traders are going for high-yielding currencies. One such currency is the Japanese yen, which experienced an upward momentum as the FED announced a continued purchase of treasury securities. The USD/JPY pair traded at a low of 82.86 and a high of 84.57.

In the US, the dollar fell against most majors, with the stock markets coming out mixed. NASDAQ gained, while Dow Jones fell. Crude oil gained but failed to sustain the increase in prices and closed at $76.80 per barrel, and gold jumped to a new high at $1,275 before closing at $1,268 per ounce. The euro gained against the dollar, with the EUR/USD pair trading at a low of 1.2828 and a high of 1.3032. The pound gained against the dollar as well, with the GBP/USD pair trading at a low of 1.5347 and a high of 1.5585.

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Yen, Euro, and Pound Fall against Greenback

admin — Tue, 14 Sep 2010 01:14:24 +0000

The greenback has been able to make gains against many of the majors in the forex trading market. Europe, the United Kingdom, and Japan are among the biggest majors to record losses against the dollar. This comes with the onset of risk aversion among investors. Global recovery seems to be unstable at the moment as economic data reflects lower-than-expected figures.

In Europe, French Industrial Production came out worse than expected. Furthermore, the euro has been unable to stabilize and hold its gains against the dollar. The EUR/USD pair traded with a low of 1.2673 and a high of 1.2747.

In the United Kingdom, PPI Input data came out weaker, contributing to the losses that the pound faced against the dollar. The GBP/USD pair traded at a low of 1.5354 and a high of 1.5427.

In Japan, the yen recorded losses against the dollar with the USD/JPY pair, trading at a low 83.76 and a high of 84.15.

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EUR Breaks 3-day Gains and Falls against the USD

admin — Wed, 01 Sep 2010 02:23:14 +0000

After experiencing a rise against the dollar during the last three forex trading days, the euro went down and traded well below the 1.27 level. If the pair continues to push below the support level of 1.2670, it will continue to go down. The EUR/USD forex pair exchanged at a high of 1.2771 and a low of 1.2633. The German Unemployment Change is anticipated at -19k against the prior -20k. The Unemployment Rate is anticipated to remain the same at 10%. As for the Preliminary CPI, it is expected to go down from the prior 1.7% to 1.6%.

The pound also posted a decline against the dollar as investors favored risk aversion tactics by going for the US dollar, with UK banks closed. The GBP/USD pair might continue to experience a decline if it trades below the support level of 1.5480. The Net lending to individuals is anticipated at 0.7B against the prior 0.6B. The GBP/USD pair exchanged at a high of 1.5574 and a low of 1.5452.

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The Greenback Declines Against 15 Major Currencies

admin — Tue, 10 Aug 2010 06:37:38 +0000

After trading with mixed results for the past few days, the US dollar fell against most of the currencies on the August 9 forex trading day. The decline is due to the weak NFP data, which came out worse at -131k vs. -65k. This only confirmed that the US economy is far from full recovery. As a result, the stock markets also declined, with NASDAQ and Dow Jones tumbling by -0.2%. As for the commodities market, crude oil closed at $80.82 per barrel after sliding by 1.6%, while gold ended up at $1205.1 per ounce, after reaching the $1200 mark. Despite the poor economic data, the Unemployment Rate dropped to 9.5% against the 9.6% forecast.

The euro and British pound posted gains against the dollar. The EUR/USD pair traded between 1.3156 and 1.3333, marking a new high level since May. As a result of the poor jobs report in the US, the British pound posted a 6-month high against the dollar. The GBP/USD reached a high of 1.5995 and a low of 1.5838.

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US Data on Pending Home Sales Disappoint Traders

admin — Thu, 05 Aug 2010 03:19:24 +0000

Many financial and forex trading experts thought that the US dollar would be able to start easing out of its decline because of the rising wages and the expected increase in home sales. It turns out that it may take a little time before traders see the dollar stabilize and perhaps strengthen on the onset of Pending Home Sales data. Although many are expecting that the Pending Home Sales data will improve, the figures were nowhere near the projected 0.5% and instead came out at -2.6%. This caused the dollar to weaken against most of the majors, with crude oil gaining by 1.5% to close at $82.55 per barrel, and gold increasing by 0.2% to close at $1,187.5 per ounce.

In England, the British pound is doing great as it strengthens against the dollar. The GBP/USD traded at a new high as the pair marked a high of 1.5968 and a low of 1.5861 on the August 4th trading day.

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