AUD/USD provides an opportunity for a long position: it’s consolidating around the 0.65 mark, and with the rise in gold prices, it can reach 0.6650 soon, and push towards higher targets afterwards. Let’s look at technicals and fundamentals. AUD/USD Fundamentals The Australian economy is doing much better than other economies in the west. Growth, unemployment … “AUD/USD Long – Pick of the week”
Month: February 2009
USD/KRW Approaches 2-Month High
The South Korean won declined to almost two-month low level against the U.S. dollar today as the global economic crisis worsened, prompting investors to sell the emerging markets assets. Since January 1st until today the Korean currency has fallen 11 percent versus the dollar, showing one of the worst results among the most-traded Asian currencies. The Japanese economy slid by 12.7 percent … “USD/KRW Approaches 2-Month High”
Obama Stimulus Package to Weaken Dollar (Revisited)
Barack Obama’s stimulus Package was approved by both Congress and Senate. It narrowed down from $825 billion to 787$, but it’s still huge. Now that the final offer was approved, it’s time to look into it, and see how it will affect the dollar. On January 26th, I wrote that the stimulus package contains spilling … “Obama Stimulus Package to Weaken Dollar (Revisited)”
Pound Bounces Up on Stock Market Growth
The British pound showed the first daily gain today after three consecutive losses against the U.S. dollar as the countrys stock market showed an unexpected growth. The pound sterling also rose against the Japanese yen — for the first day this week after the FTSE 100 (the Britians stock market benchmark index) went up by more than 1.5 percent during the early trading session. … “Pound Bounces Up on Stock Market Growth”
AUD Falls as Stimulus Plan is Rejected
The Australian dollar declined against the U.S. dollar, the Japanese yen and the euro today as the countrys senate refused to adopt the Prime Ministers stimulus package worth of $27.4 billion. The Aussie has been growing recently after Kevin Rudd proposed fiscal and liquidity measures that would cost the budget A$42 billion but would gradually help the economy to recover. Traders were confident … “AUD Falls as Stimulus Plan is Rejected”
British Pound Drops Before Reports
The Great Britain pound continued to fall against the other major currencies today as the traders expect the negative results from the jobs and inflation reports today. The pound is currently falling for the second day against the dollar and the euro and for the third against the yen. Market participants expect that the Bank of England Inflation Report … “British Pound Drops Before Reports”
Euro Falls on Europe’s Troubles Worsening
The euro fell against the U.S. dollar and other major currencies, except the pound, as the Russian banks are waiting from their government to negotiate the $400 billion of loans with their mostly European creditors. The Forex market reacted to such news as to a signal that the problems in the European region are only getting bigger these days and moved to the safer assets … “Euro Falls on Europe’s Troubles Worsening”
Yen Rises on Risk Appetite Decline
The Japanese yen rose by the most in February against the U.S. dollar and posted the considerable gains versus the euro and the pound as the investors and traders became less confident in the U.S. stimulus plans and were reluctant to buying anything else than the yen or the greenback. The recent uprise of the yen-based currency pairs was connected to the global … “Yen Rises on Risk Appetite Decline”
Forex Behavior Back to Normal
This week has been quite strange in forex trading. The risk factor played a major role in trading. But at least the behavior following the NFP release was normal. On Tuesday, Pending Home Sales in the US were quite high, much better than expected. Instead of being unchanged, the figure rose by 6.3%. Such a … “Forex Behavior Back to Normal”
Will Non Farm Payrolls Surprise?
Non Farm Payrolls may surprise today. Since expectations are low, at -530,000, a better than expected figure is quite possible. Forex traders and economists expect a total fall of 1.5 million jobs in 3 months. Such a figure will be terrible news, yet again, for Americans. There are job cut announces everywhere. But did they … “Will Non Farm Payrolls Surprise?”