EUR/USD continues pushing forward in a steep uptrend channel. The crowded US calendar promises an exciting close to the week. Here is a quick update on technicals, fundamentals, and community trends. EUR/USD trading higher in steep uptrend channel. EUR/USD Technicals Asian session: EUR/USD made the breakout above 1.3110 during the Asian session.. Current Range is … “EUR/USD Sep. 17- Rising Rapidly in Steep Channel”
Month: September 2010
UK Retail Sales Decline, Britain’s Pound Drops vs. Euro
The Great Britain pound fell today versus the euro after the retail sales unexpectedly slowed in August, increasing the concern for Britain’s economy. The currency rose against the US dollar after it slumped earlier. The Office for National Statistics reported that between July and August the retail sales volume decreased by 0.5 percent. That’s compared with the growth by 0.8 percent in July and the forecast increase by 0.3 percent. The slowdown of the sales reinforced the concern … “UK Retail Sales Decline, Britain’s Pound Drops vs. Euro”
Canadian Dollar Weakens with Falling Oil Prices
The Canadian dollar fell today versus the euro to the lowest level more than a week and weakened against the US dollar after the prices for crude oil declined and stock dropped. October futures for oil delivery slipped as much as 1.6 percent to $74.81 per barrel. Oil is the main Canada’s export. The oil sands in Alberta, Canadaâs fourth most populous province, contain about 170 billion barrels of petroleum, the largest pool outside … “Canadian Dollar Weakens with Falling Oil Prices”
Currensee Introduces Public Trader Profiles
Currense, the social network for forex traders, launched a new feature – public profiles. Users can opt in to share their real trading performance, bios, and trading strategies on social networks. Public profiles can be seen via a direct URL that can be shared on social networks such as Facebook, Twitter, and other networks. This … “Currensee Introduces Public Trader Profiles”
No Expectations, No Disappointments – Dollar Enjoys OK Data
Weekly unemployment claims didn’t rise and even fell by 3,000. Producer prices rose marginally more than expected. This supports the dollar across the board especially helping the yen intervention. The figures released in August were disastrous – employment, home sales, durable goods order, and almost every US indicator was significantly below consensus. For the Philly PMI, … “No Expectations, No Disappointments – Dollar Enjoys OK Data”
New Zealand Dollar Weakens on Interest Rates Outlook
The New Zealand dollar weakened today after the dovish statement of Alan Bollard, the governor of the Reserve Bank of New Zealand, suggested that the central bank would keep the interest rates unchanged. Bollard said that the worst earthquake in 80 years “significantly disrupted economic activity and is likely to continue to do so for some time.” The statement, which was more dovish than the traders expected, sent the bets on the interest rates hike … “New Zealand Dollar Weakens on Interest Rates Outlook”
Yen Rises After Decline on Intervention
The Japanese yen pared yesterday’s losses on the speculation that Japan’s exporters would buy the currency after the government intervention pushed the yen down to the lowest level in almost two weeks against the US dollar. The Japanese exporters may buy the yen before the fiscal half-year end. They usually purchase the yen to convert the overseas earnings into the local currency when they close their account books in March and September. The traders try … “Yen Rises After Decline on Intervention”
Britain’s Pound Goes Higher after Japan’s Intervention
The Great Britain’s pound advanced today after the Japanese government performed the intervention to stem the yen’s gains, increasing the attractiveness of the currencies, perceived to be riskier. Henrik Gullberg, the currency strategist at the Deutsche Bank AG, said: Thereâs an improvement in risk appetite after the intervention of Japan overnight. It highlights that further easing wonât just be felt in the U.K. and thatâs helping the pound. Britain’s currency rose versus all of its 16 … “Britain’s Pound Goes Higher after Japan’s Intervention”
Australian & New Zealand Currencies Gain vs. Yen
The Australian and New Zealand dollar went up versus the Japanese yen today after Japan’s government intervened, selling the yen. The New Zealand dollar fell against its US and Australian counterparts. Yoshihiko Noda, Japanâs Finance Minister, said today that Japan unilaterally sold the yen to protect thee nation’s exports, causing the yen to weaken against other most traded currencies, including the Australian and New Zealand ones. The Aussie … “Australian & New Zealand Currencies Gain vs. Yen”
Ruble Weakens After Japan’ Intervention, May Appreciate Later
The Russian ruble weakened today against the dollar-euro basket on the speculation that the appreciation of the currency would be curbed after Japan sold the yen for the first time since 2004. The ruble also fell as the oil prices slipped. Russia’s central bank may intervene to stabilize the currency as its swing may hurt the exports. In the long run, Japan’s intervention may be good for the ruble as the yen’s weakness, together with the declines of the dollar and the euro, … “Ruble Weakens After Japan’ Intervention, May Appreciate Later”