Non Farm Payrolls were in line with the official expectations – a fall of 651K jobs, but the affects on the forex market were fascinating, and can teach us some things for the next release. Let’s walk through the market alleys and find some precious currency correlations: Official expectations were a drop of 647,000 jobs … “NFP Effect Roundup”
Month: March 2009
USD Falls as Financial Turmoil in U.S. Worsens
The U.S. dollar declined today against the other major currencies, after showing a good performance yesterday, as the investors expect that the labor market reports, that are to be released today, will signal a further worsening of the recession in the United States. The Japanese yen is the only major currency that is rising against the greenback for the second day today. It started to react … “USD Falls as Financial Turmoil in U.S. Worsens”
Indian Rupee Approaches Recent Record-Low
The Indian rupee declined against the U.S. dollar today, almost reaching a new record-low level, as the domestic companies converted to dollars in order to pay for the imported goods. Although, the risk-aversion level is quite moderate in the global markets today, the rupee falls as the Indian economy faces much greater risks among the other emerging countries. The drop in the dollar-denominated exports … “Indian Rupee Approaches Recent Record-Low”
Dollar Up on Deeper Financial Turmoil
The U.S. dollar rose against the the Japanese yen and the Australian dollar today as the investors sought the safety for their funds after the yesterdays optimism vanished on the bad report for the Australian fourth quarter GDP change. The dollar went up against the yen for the second day today and also gained for the fourth day against … “Dollar Up on Deeper Financial Turmoil”
Aussie Rises as RBA Leaves Rate Unchanged
The Australian dollar went up against all other major currencies today after the countrys central bank decided to leave the policy interest rate unchanged, unexpectedly stopping its most aggressive rate-cutting streak. The Reserve Bank of Australia left the rate unchanged at 3.25 percent today for the first time in seven month, stating that the record low interest rates and the governments spending are … “Aussie Rises as RBA Leaves Rate Unchanged”
EUR Fell as Eastern Europe May Not Get Help
The single European currency declined with a rather strong gap against the U.S. dollar and the Japanese yen today as the leaders of the developed Eurozone countries said that the Eastern European banks will not receive any financial aid. The bank-devastating crisis is pressing hard on the European countries that havent adopted the euro yet, pushing down their currencies. The banks … “EUR Fell as Eastern Europe May Not Get Help”
EUR/USD and USD/JPY Breakouts this Week?
Both the EUR/USD and the USD/JPY went in favor of the dollar last week, but didn’t make the big breakouts. This first week of March, with heaps of economic figures, could make them break out. From noon on Thursday, expect 24 hours of wild price action. EUR/USD The most popular pair, EUR/USD, went down last … “EUR/USD and USD/JPY Breakouts this Week?”