The Tankan Manufacturing Index is major economic indicator in Japan. USD/JPY is climbing slowly to the magical 100 mark. Will this release push it over the top? Update April 2011: for the latest on this important Japanese indicator, see the Tankan Manufacturing Index page on Forex Crunch. USD/JPY is trading sideways for a few weeks. On … “Tankan Manufacturing Index could take USD/JPY Over 100”
Month: March 2009
Canadian GDP Could Surprise
GDP is expected soon in Canada, and it’s expected to show a contraction of 0.6%. There are three reasons why it could surprise to the upside. Here’s why. Canada publishes its GDP on monthly basis. This is unique. While the consensus is for a contraction of 0.6%, some conditions have improved lately, and could indicate … “Canadian GDP Could Surprise”
Yen Heads for Biggest Quarterly Loss in Years
The Japanese yen declined today against the other major currencies as the stock markets corrected after the yesterdays fall and the yen became too overbought. The traders also expect a worst in 30 years business confidence index to be reported by the Bank of Japan tomorrow. The yen is currently losing largely against the euro as the market participant believe that the European Central Bank will … “Yen Heads for Biggest Quarterly Loss in Years”
Yen Dollar Correlation – Upside Story
The US dollar and the Yen continue to work in correlation, and today, the dollar made gains – the Yen extended them. I’ve written in the past about the Dollar Yen Correlation. In previous events, such as the FOMC Trillion dollar printing statement, the dollar weakened, and then the Yen weakened even more. Today, it … “Yen Dollar Correlation – Upside Story”
Yen Gains as World Economy Outlook Worsens
The Japanese yen rose against all other major currencies today as the traders reacted on the possible bankruptcy of the U.S. automakers and the global optimism for the emerging stock markets and the high-yielding currencies declined. The yen rose to the highest level in a week against the U.S. dollar and the 2-week maximum against the euro as the Asian stock markets … “Yen Gains as World Economy Outlook Worsens”
What Is Your Preferred Leverage?
What leverage do you use for forex trading? Play safe or use the maximum leverage? Here’s a poll for you. Leverage is common in forex trading. Traders can leverage tiny pips into huge profits – or huge losses. Following a post in the forex blog, I was wondering how traders split: lean for safe play or for … “What Is Your Preferred Leverage?”
AUD/USD New Resistance Line Formed
AUD/USD fails to extend its gains despite good economic indicators and strong momentum. A new resistance line has been formed, and might be tested later this week. Last week, the Aussie settled above the 0.70 line. There was no technical resistance there – just psychological. After a short struggle, AUD/USD traded nicely above this line, … “AUD/USD New Resistance Line Formed”
EUR/GBP Locked Between Uptrend Support and Strong Resistance
EUR/GBP found strong resistance at the magical 0.95 line, and slipped downwards. It doesn’t have much room to move due to uptrend support. This week’s high volatility should push it over the top – breaking resistance on the road to parity. EUR/GBP traded this week in a 250 pips range, from 0.9420 to 0.9170. In … “EUR/GBP Locked Between Uptrend Support and Strong Resistance”
G20 Summit – To Spend Or Not To Spend?
The G20 summit is due on Thursday. The US and the UK tend to call for a global stimulus plan while Germany wants to slow down. Will money be spent? Who will spend? And how will the forex market move? Heads of state from the top 20 industrialized nations are getting together in London, on … “G20 Summit – To Spend Or Not To Spend?”
Top 5 Dollar Downers
Here are 5 major macro economic reasons that weigh heavily on the US dollar: Obama’s stimulus package – spilling lots of money into the economy – devaluation of the dollar. FOMC Statement – Printing $1 trillion dollars instantly – dollar devaluation yet again. Toxic Asset Plan – Geithner’s plan will come mostly from the public … “Top 5 Dollar Downers”