Wall Street has rallied for 5 consecutive weeks. This has contributed to the weakening of the dollar. This week, the stock market is challenged by a flood of reports that might stop the rally. Will the dollar make gains? Wall Street has enjoyed an uncommon 5 week rally. Stocks rose on good news and lots … “Long Stock Market Rally and the Dollar”
Month: April 2009
Euro Doesn’t Enjoy Good Friday
Thin trading and positive French data didn’t help the Euro today. The economic downturn in Europe is deep. It could fall more next week. Today’s holiday of Good Friday in many places around the world meant very thin trading. In such days, prices can move sharply, and sometimes break major lines, only to retreat later … “Euro Doesn’t Enjoy Good Friday”
Dollar Appreciates on Better Economic News
The U.S. dollar continued to gain today after the yesterdays rather significant rally as the speculations that the worlds biggest economy is soon to leave its recession period arise. The dollar grew against the euro and the British pound today, while being almost unchanged versus the Japanese yen. Yesterday, after the fundamental indicator news were released along with some corporate reports, … “Dollar Appreciates on Better Economic News”
Summers of Hope For The Dollar?
Obama’s senior advisor, Larry Summers, said that the bottom of this recession is already behind us. If his optimism is real, where does it send the dollar? President Barack Obama’s chief of the White House National Economic Council, Larry Summers spoke in a panel in Washington DC, and stated that the economic free fall will end … “Summers of Hope For The Dollar?”
Won Once Again Leads in Gain in Asia
The Korean won advanced at a fastest pace among the most-traded Asian currencies today as the risk-aversion that prevailed earlier this week ended unexpectedly and the outlooks for the Asian emerging economies improved. The South Korean currency gained also because the government managed to sell successfully $3 billion worth of the global bonds, which would allow it to hold down the demand for … “Won Once Again Leads in Gain in Asia”
Yen and Dollar Continue Their Advancement
Both the U.S. dollar and the Japanese yen continued their growth on the Forex market today as the yesterdays stock trading sessions were negative and todays Asian session ended in the red zone. The dollar rose against the euro for the third day today and declined against the yen for the second one as the Japanese currency still remains the unquestionable … “Yen and Dollar Continue Their Advancement”
AUD/USD Awaiting Employment Data to Move
The interest rate decision and the Home Loans didn’t push AUD/USD over the edge. It trades in a mixed manner. Tonight’s employment figures could move it. If not, the Aussie will enjoy a calm Good Friday… The RBA decided to cut interest rates by 0.25% to 3%. Expectations were mixed between leaving rates unchanged and … “AUD/USD Awaiting Employment Data to Move”
Japanese Yen Performs on Stocks Slump
The Japanese currency rose from the local bottom levels against all other major currencies today after the stock markets fell yesterday and the outlook for todays sessions remain bearish. The rally of the high-interest currencies was supported mainly by the growth in the developed and emerging stock markets that was clearly visible during the last two weeks. As the optimism … “Japanese Yen Performs on Stocks Slump”
Euro Still Suffers Aftershocks
The Euro has been hit by the Italian earthquake and by weak Retail Sales, and seems lost. Which direction will it take? I see a gloomy picture. EUR/USD began the week with a neat weekend gap of nearly 100 pips. The new forex trading week sent EUR/USD above 1.35, and almost at 1.36. But this … “Euro Still Suffers Aftershocks”
USD/JPY Leaves Dust Behind – What’s next?
USD/JPY began the week with a blast, rising above 101 and forgetting about 100. Now that there’s another digit – what’s next? USD/JPY broke the 100 line following the Non-Farm Payrolls on Friday, April 3rd. It was a significant push forward. Although the pair continued to flirt with the 100 line, it finally finished the … “USD/JPY Leaves Dust Behind – What’s next?”