The Japanese yen gained today as another earthquake in Japan turned investors away from higher-yielding assets and made them seek safety. Carl Forcheski, a director on the corporate currency sales desk at Societe Generale SA, commented on the new trend of the yen: Weâve had a nice run in risk trades in the past couple of weeks, and along with it the yen has moved significantly weaker after the G-7 intervention. A lot of market participants see … “Yen Rises After Another Earthquake in Japan”
Month: April 2011
AUDUSD: Bullish Momentum Set To Extend
AUDUSD: The broader outlook for AUDUSD remains higher as it looks to build more strength following its strong performance the past week.With another key psycho level at the 1.0500 level violated, risk of further upside pressure should continue as a new week begins. Guest post by www.fxtechstrategy.com In such a case, the 1.0600 level will be … “AUDUSD: Bullish Momentum Set To Extend”
EUR/USD Targeting 1.50 Psychological Level
Euro extended its gains in the past week against the US dollar after the ECB increased the interest rates. Pair broke through highs from Nov 2010, but even more importantly, it also moved above the falling trend line connected from 2008 highs. Guest post by Gregor Horvat As such, the bullish uptrend remains fully in … “EUR/USD Targeting 1.50 Psychological Level”
GBPJPY: Bear Pressure Set To Extend Further (Week Ahead)
GBPJPY – With a follow through higher seeing GBPJPY breaking and closing strongly above the 135.47 level, its Feb 18’2011 high. It now looks to target its psycho level at 140.00. While price hesitation on an initial test of that level cannot be ruled out, its eventual break will set the stage for further strength … “GBPJPY: Bear Pressure Set To Extend Further (Week Ahead)”
Euro Spurred by ECB Rates Hike This Week
The euro fluctuated this week, behaving differently against different currencies, but by the end of the week the currency surged as the European Central Bank increased its main interest rate. Still, the shared European currency posted weekly losses against some stronger currencies. The anticipated raise of the interest rates occurred and that boosted the euro in the near-term. In the longer-term doubts about ability of the European economy to survive with higher borrowing costs remain. It’s … “Euro Spurred by ECB Rates Hike This Week”
AUD/USD – Too Good To Be True?
AUD/USD closes the week at 1.0560, breaking every record, every resistance line and also gravity on the way. There are many good reasons for a stronger Aussie. Here’s a nice list of 5 major factors. There may be even more. But there are signs that the pair is running out of air. Will we see … “AUD/USD – Too Good To Be True?”
Canada’s Currency Becomes Stronger as Crude Oil Advances
The rally of commodities, including crude oil that jumped above $113 per barrel price, allowed the Canadian dollar to advance against its US counterpart and to post weekly gains for the third consecutive week. Canada’s currency weakened against the euro. Crude oil surged on the speculation that the bombardment of Libya’s oilfield won’t allow the country to restore the rate of crude production to the previous levels anytime soon. May delivery of crude oil gained … “Canada’s Currency Becomes Stronger as Crude Oil Advances”
Dollar Falls on Prospect of Government Shutdown
The US dollar went down today as the US policy maker weren’t been able to reach an agreement about the budget and as the rally of raw materials damped demand for the US currency as a safe asset. The US lawmakers in Congress remained divided in their view about the federal budget and that can result in the first shutdown of the US government in 15 years. The Dollar Index, tracking the greenback versus the currencies of six major trading partners of the US, tumbled … “Dollar Falls on Prospect of Government Shutdown”
EURUSD: Resumes Long Term Uptrend, Eyes Further Upside Gains.
EURUSD: EUR has resumed its long term uptrend after rallying back above the 1.4266/79 levels, its key resistance level in early morning trading today. A firm hold above that level on a weekly closing basis will build a base for further strength towards the 1.4576 level, its Jan 2010 high. Guest post by www.fxtechstrategy.com Above … “EURUSD: Resumes Long Term Uptrend, Eyes Further Upside Gains.”
Sterling Rises as PPI Jumps
The Great Britain pound advanced, rising to the highest level in almost three months against the US dollar, as the report today showed that the UK producer prices index climbed in March. Both input and output prices rose in Britain last month. The output price measure for all manufactured products rose 0.9 percent between February and March, lead by prices for petroleum, tobacco, alcohol, and food products. The input price measure of UK manufacturersâ … “Sterling Rises as PPI Jumps”