Job Looses Increase: Dollar Raise on Currency Trading 2009-07-02
Government report announced an increase on unemployment numbers and forex traders went for higher-yielding currencies. Dollar and yen made a drastic advanced against the euro.
The European currency declined versus the dollar and yen as Jean-Claude Trichet, European Central Bank President, stated that recovery will most likely start for the region by mid 2010. Dollar climbed up across the boards as China renewed its support for the greenback, dismissing speculations that the Asian country wanted to look for a new international currency.
The New York Times published that the “American economy lost 467,000 jobs in June and unemployment rate edged up to 9.5 percent.” This has been the worst downturn since the Great Depression. Numbers are an indication that recession is not over yet. More...
New Economic Minister Hayashi: Yen Down on FX Trades 2009-07-01
Former defense minister Yoshimasa Hayashi as economic minister of Japan on Wednesday, ahead of general elections. According to Reuters “analysts said the switch so close to an election, which could come as soon as August, would have little effect either economically or politically.”
Yen declined to a two week low against the euro on forex accounts, following a manufacturing expansion for a fourth consecutive month in China, which increased demand for higher yielding assets. More...
For Forex Traders Focused on the Dollar this Week 2009-06-25
News from both sides of the Atlantic continually conflicts, leaving the markets in a ongoing state of volatility
For Forex traders focused on the dollar this week, it's an ongoing game of tug-of-war, as news from both sides of the Atlantic continually conflicts, leaving the markets in a ongoing state of volatility.
The game may be favoring the dollar, however, after the Fed Rate announcement yesterday in which the news was positive, allaying concerns about inflation, and a general feeling that the economic slump may be turning around. This is a key point, as recent months had focused on a number of negative factors, from the auto industry collapse, increasing unemployment, and even more recently, questions about maintaining the dollar as the world reserve currency. More...
Forex Traders Scrambling to Keep Pace with the Rapid Movements this Week 2009-06-25
With incredible volatility in the market this week, Forex traders are scrambling to keep pace with the rapid movements this week. We began the week with a bit of strengthening in the dollar, only to see the rally end on Tuesday, with the European majors making major gains.
With the Fed Rate expected to remain the same today, many traders are torn, as a lower rate will work to curb inflation, but at the same time lead to lowered interest in the dollar.
Across Europe, consumer sentiment has made recent improvements, even though the actual retail sales and unemployment numbers have slightly worsened, leading many to believe this rally may be short lived. More...
Dollar is Yet Again Making Moves to the Upside 2009-06-23
Opening the week, the dollar is yet again making moves to the upside. Concerns about inflation and economic frailty seem to be holding less weight than the weakness seen in Europe and the rest of world, and Citigroup analysts Tom Fitzpatrick and Shyam Devani today issued a note about the euro, stating that a possible return to 1.33, a level last reached on May 7th, must be considered.
Positive reports from a number of large U.S. companies have also buoyed the dollar, though many have maintained concerns about the Fed interest rate. More...
