Inflation data, that is published all the time is becoming less and less important in these days of a global economic crisis. It doesn’t ignite price action as it used to up to the last summer. Up to the summer of 2008, Consumer Price Index (CPI) and Producer Price Index (PPI), played a big role … “Inflation Becoming Irrelevant in Forex”
Month: February 2009
What to Expect in Forex from GDP
America Prelim GDP is going to be published at 13:30 GMT. Expectations are low. This week’s course sees American data disappointing and the dollar rising afterwards – risk aversion at its best. Will the Euro make the dive? Forex Traders are expecting a severe downgrade of data from the Advance GDP that was published a … “What to Expect in Forex from GDP”
Euro Got Direction – Down
EUR/USD was looking for a direction at the beginning of the week. With the release of the disappointing German Ifo Business Climate, it got a direction for the rest of the week – down. The German Ifo Business Climate is a major figure in Europe’s biggest economy, and it was disappointing: it fell to 82.6, less … “Euro Got Direction – Down”
Bank Nationalization Fears To Hurt Euro
The European mini summit in Berlin supplied so headlines about bank nationalization and regulation. This could trigger the EUR/USD to open the forex trading week lower – with a weekend gap. Bank Nationalization was highly debated in the European mini-summit in Berlin. Although both EU leaders and ECB’s Trichet talked against nationalization, this issue is … “Bank Nationalization Fears To Hurt Euro”
EUR/GBP – Where is it going?
I’m revisiting the popular EUR/GBP cross. In the last post about this currency pair, I wrote about it breaking the support line of 0.88, on February 5th. After breaking that line, it stayed below Since then, it continued its decline, and reached a low point of 0.8640, on February 10th. But after hitting that low … “EUR/GBP – Where is it going?”
Dollar on Break From Recent Behavior
The US dollar took a break from gaining against other currencies. Also the risk factor took a break: US dollar fell when bad American data was published. Also the USD/JPY – Stock market correlation took a break. Let’s see what happened yesterday (Feb 19). The US dollar took a break from the upward trend after … “Dollar on Break From Recent Behavior”
Rupee to Post Worst Weekly Drop This Year
The Indian rupee declined against the U.S. dollar today and is currently ready to show the biggest weekly drop since the beginning of the year as the slump of the U.S. stock markets was followed by the decline in the Asian markets. The Bombay Stock Exchange benchmark index (SENSEX) is currently falling by more than 2.5 percent. Such a strong decline in the stocks prompt foreign investment … “Rupee to Post Worst Weekly Drop This Year”
AUD Gains for 2nd Day as Confidence Grows
The Australian dollar showed the second day of growth against the U.S. dollar and the Japanese yen today as the traders feel a growing confidence in the Australian economy after the much-needed stimulus package has been adopted there. The strategists from Commonwealth Bank of Australia recommend buying the Aussie against the dollar, the euro and the yen, stating that it will … “AUD Gains for 2nd Day as Confidence Grows”
Euro Recovers From Yesterday Losses
The euro posted a moderate daily gain against the other major currencies today after some regional banks reported not-so-bad results for the fourth quarter of 2008. Among the banks that surprised the market analysts were the German Commerzbank AG and the Dutch ING Groep NV. Both of them reported lesser losses for the last quarter than the average estimates … “Euro Recovers From Yesterday Losses”
Euro Weakens before ZEW Survey
The European single currency reached its lowest level against the dollar since the early December as the Forex traders expect that the ZEW Survey report will show that the Eurozones business confidence is at the very low levels today. There are also expectations that the credit rating of several big European banks may get downgraded soon on the concerns that their … “Euro Weakens before ZEW Survey”