Oil prices were sharply higher in recent weeks, gained well above $100 per barrel. Since this level was reached crowd become very bullish, someone are even calling $200 per barrel, but usually exactly the opposite reaction follows. Technically speaking, we know that market is just in a corrective retrace, that reached 61.8% retracement level against … “Oil Price Reversal from $100/110 Resistance”
Month: March 2011
Forex Trading with Tighter Clocks
The busiest time of the day in forex trading is about to expand from 4 to 5 hours. This will happen during two weeks when Daylight Savings Time comes into effect in the US and Canada, while European countries wait. Apart from this expanded busy time, some events will get closer, meaning more action. Let’s … “Forex Trading with Tighter Clocks”
Euro Slows Decline by Weekend, Posts Weekly Losses
The euro weakened against other major currencies this week as the worries about the sovereign-debt crisis reemerged. The shared 16-nation European currency strengthened by the end of the week as the European leaders met to discuss the measures to deal with the problem, but the gains of the euro weren’t enough to offset earlier losses. The theme of the European debt has gone from news recently, but it returned prominently this week. The credit ratings of Greece and Spain were … “Euro Slows Decline by Weekend, Posts Weekly Losses”
Canada’s Dollar Goes Higher vs. US Dollar, Lower vs. Euro
The Canadian dollar erased its losses versus the US dollar today as stocks advanced and the US retail sales grew. The Canadian currency weakened against the euro as oil fell and the European policy makers attempt to find a way out of the debt crisis. The Standard & Poorâs 500 Index rose 0.7 percent, following the previous decline by 0.2 percent. The retail sales (the advance estimate) in US, the biggest trading partner of Canada, grew 1.0 … “Canada’s Dollar Goes Higher vs. US Dollar, Lower vs. Euro”
Australia’s Dollar Rebounds on Stronger China’s Economy
The Australian dollar rebounded today as the set of good reports was released in China, showing a strong economic growth. The currency previously weakened as the earthquake in Japan diminished demand for higher-yielding currencies. Today’s reports from the National Bureau of Statistics eased the concern that economy of China, Australia’s largest trading partner, may slow. The rate of inflation remained the same at 4.9 percent, while it was expected to decline, and industrial production rose 14.1 … “Australia’s Dollar Rebounds on Stronger China’s Economy”
![[Video] Earthquake and Yen, EUR/USD Forces and More](https://investinearth.org/wp-content/uploads/2011/03/Fotolia_28377258_XS-351x185.jpg)
[Video] Earthquake and Yen, EUR/USD Forces and More
In an interview on Forex TV, I spoke with Tim Kelly about the short and long term impact of the catastrophic earthquake in Japan on USD/JPY. In addition, we discussed the opposing forces moving EUR/USD and where it will be in the next few weeks, among other topics. Enjoy! More than a thousand people were … “[Video] Earthquake and Yen, EUR/USD Forces and More”
Need for Safety Weakens Asian Currencies
The earthquake in Japan, that boosted attractiveness of the yen, at the same time curbed appeal of other Asian currencies, including the Malaysian ringgit. The earthquake added to concerns that the global economic growth may slow as the Asian economies showed the signs of some weakness. The concerns were further bolstered the continuing conflict in Libya and the tensions in Saudi Arabia. USD/MYR traded at 3.0400 as of 10:47 GMT today after it opened at 3.0380. If you have any questions, … “Need for Safety Weakens Asian Currencies”
Yen Appreciates as Tremor Boosts Demand for Safety
The Japanese yen gained today versus all other most-traded currencies as the earthquake in Japan increased local demand for the currency as a safe haven. The 8.9-magnitude earthquake struck at 14:46 local time at 130 kilometers off the coast of Sendai north of Tokyo, at a depth of 24 kilometers, causing building in Tokyo to shake. The disaster resulted in the surge of demand for safety in Japan and the Japanese currency profited from it as it’s still considered a haven, in spite of problems in the country. … “Yen Appreciates as Tremor Boosts Demand for Safety”
EUR/USD: Correction or Something Bigger?
Eur/Usd reached new lows in recent sessions, mostly driven by lower stocks prices. We see evidence of a deeper price action on Eur/Usd, especially since the pair also broke through the lower support line of a previous bullish channel. As you can see on the chart, the pair is breaking into a third wave of … “EUR/USD: Correction or Something Bigger?”
Dollar Gains as Fundamentals Spurs Risk Aversion
The US dollar strengthened today as the signs of the weaker global economic growth caused investors seek safety of the US currency, while driving stocks, commodities and riskier assets down. The downgrade of Spain’s credit rating, the lower imports in China and other fundamental economic data makes traders to worry about sustainability of the global economic recovery. The news from the US weren’t good either. The US trade balance deficit expanded to $46.3 billion in January, … “Dollar Gains as Fundamentals Spurs Risk Aversion”