USDJPY: Bearishness Targets The 76.43 Level. USDJPY: With a strong bearishness seen, further declines are now building up towards the 76.43 level, its 2011 low. On a decisive cut through that level, USDJPY will resume its long term downtrend and weaken further towards the 74.00 and 73.00 levels, all representing its psycho levels. Guest post … “USD/JPY Bearishness, USD/CHF Resumes Long Term Downtrend”
Month: July 2011
Loonie Declines as Economy Contracts
The Canadian dollar fell sharply against all of its major counterparts today, following the unexpected negative GDP report. The loonie dropped to its July 19 level against the US dollar, the lowest value against the euro since July 8 and slid to March 18 rates against the Japanese yen today. The currency also decreased against the outsider of the day — the Australian dollar. It’s quite clear that today’s bearish behavior is … “Loonie Declines as Economy Contracts”
Dollar Falls on US Growth Slowdown
The US dollar fell sharply against some of the major currencies today, following a report that showed that the economic growth in the second quarter of 2011 was worse than expected. The greenback was trading at a rather high level against the other currencies earlier today, advancing significantly both against the euro and the Great Britain pound before 12:30 GMT today. Following the US GDP report, it slid to bearish against the euro … “Dollar Falls on US Growth Slowdown”
Euro Slids for Second Day on Debt Crisis Concern
The euro fell against all of its major counterparts today, as the fear of the debt crisis spreading beyond Greece and other troubled countries of the Eurozone. The euro is currently demonstrating a second bearish day in a row against the US dollar, the Great Britain pound and the Japanese yen. It is falling against the dollar despite the stalemate in the US debt-limit discussions, which may lead to a technical default on August 2. Greece’s long-term sovereign credit … “Euro Slids for Second Day on Debt Crisis Concern”
EUR/USD: Trading the US GDP Release
The broadest measure of the economy always rocks the markets, especially in the first release. Another quarter of weak growth is expected in the world’s largest economy. Here are the details for this all-important release, and 5 possible scenarios for EUR/USD, a pair busy in an “ugly contest”. Published on July 29th, at 12:30. Indicator … “EUR/USD: Trading the US GDP Release”
Yen Gains on Greece & US Debt Problems
The Japanese currency attracted FX traders’ funds today, as Greece may face a selective default rating from S&P, while the United States are still likely to face a technical default next Tuesday. The Japanese yen is still considered as a safe haven by the risk-averting market participants, compared to the dollar and the euro. During the time of instability — financial and economic, the safe haven currencies attract buyers. The yen rose for the third day against the US … “Yen Gains on Greece & US Debt Problems”
AUD/USD: Minor Correction within Uptrend
While other currencies lost some ground against the buck yesterday, the Australian dollar remained strong. The reason is economic data from this week, such as PPI (0.8) reported on Sunday, and CPI (0.9) that also beat expectations. Looking at the technical side of this pair, the prices are acting very strong, and we expect this … “AUD/USD: Minor Correction within Uptrend”
Brazil Real Loses on FX Tax, Dollar’s Sudden Appreciation
The Brazilian currency demonstrated a biggest drop against the US dollar this year today, as the government introduced a new tax on FX derivatives investments, and the dollar jumped up against the other major currencies. During the day the Brazil real demonstrated a loss of about 2 percent (before returning to current levels), which is the biggest single-day decrease for this currency in more than 12 months. The Brazil authorities will now charge 1 … “Brazil Real Loses on FX Tax, Dollar’s Sudden Appreciation”
Yen Intervention Coming Soon?
The current levels of the Japanese yen put the Japanese BOJ and MOF on high alert. David Rodriguez of DailyFX discusses the chances of a big intervention if USD/JPY reaches the historic lows, and answers 4 additional fundamental questions about the debt ceiling, the EU Summit details and more. David Rodriguez is a quantitative analyst … “Yen Intervention Coming Soon?”
USD/JPY: Trading the US Pending Home Sales Jul 2011
This important housing sector indicator proved to be a significant market mover yet again, and the upcoming publication is likely to be exciting as well. Here are the details towards the release, and 5 likely scenarios for USD/JPY. Published on July 28th, at 14:00 GMT. Indicator Background This indicator reflects the change in the amount … “USD/JPY: Trading the US Pending Home Sales Jul 2011”