AUDUSD: Takes Out Major Resistance, Resumes Long Term Uptrend. AUDUSD: With the pair breaking through the 1.1009 level, its 2011 high on Tuesday and following through higher in early trading today, further upside gains are likely in the days ahead. This is coming on the back of a recovery tone set from the 1.0389 level, … “AUD/USD Takes Out Major Resistance, USD/CAD Under Pressure”
Month: July 2011
AUD Surges Against Everything on Higher Inflation Numbers
The Australian dollar went up against all other major currencies today, as the consumer inflation reports showed higher values than the traders have expected, hinting more hawkish interest rate policy. The Aussie rose against the US dollar, the yen and the euro today after the CPI data for the second quarter of 2011 were released by the Australian Bureau of Statistics. The inflation was reported at 0.9 percent compared to 1.6 percent in Q1 2011. … “AUD Surges Against Everything on Higher Inflation Numbers”
Saxo Bank Acquires 25% of Leverate
Leverate provides various software solutions for forex brokers, received a significant investment from Danish forex broker Saxo Bank. This partnership will also enable Saxo Bank to offer Leverate’s tools to banks and brokers. Leverate made some nice achievements in the past. I have previously written about their MT4 binary options tool, as well as MetaTrader for … “Saxo Bank Acquires 25% of Leverate”
Rand Near Monthly High vs. USD on Rate Difference, US Uncertainty
The South African rand rose to its highest level in more than two weeks against the US dollar today, as the rate difference attracted speculators, while they shunned uncertainty of the States. While President Obama continues to press the Congress for the debt ceiling compromise, there’s no end seen to these prolonged debates. Next Tuesday can become one of the worst days in dollar’s history if nothing changes until that. As the global … “Rand Near Monthly High vs. USD on Rate Difference, US Uncertainty”
CAD Sets New Multi-Year Record on US Crisis Expectations
The Canadian dollar expanded today, reaching a new 3-year maximum level versus the US currency, as the President of the United States warned of a serious “economic crisis”. The loonie (as the CAD is nicknamed) reached its new record level against the US dollar today — the highest since November 2007. While there aren’t many supporting news for the Canadian dollar (except for persistently high levels of oil price), the loonie wins as an alternative to the greenback, which … “CAD Sets New Multi-Year Record on US Crisis Expectations”
AUD/USD: Trading the Australian CPI Jul 2011
Australia publishes inflation numbers only once per quarter. This low frequency release of a key indicator for rate moves, makes it a big market mover. Here are the details for the upcoming release, and 5 possible scenarios for AUD/USD. Published on Wednesday at 1:30 GMT. Indicator Background There are various independent measurements of inflation, such … “AUD/USD: Trading the Australian CPI Jul 2011”
Aussie Rises on Rate Expectations, US Problems
The Australian dollar continued its gaining streak today, rising against the other major currencies, as the economic analysts expect rate increases and the global investors avoid US dollar. The Aussie (which is a nickname for the Australian currency) managed to grow against the US dollar for fifth day, also gaining considerably against the Japanese yen and the euro. While isolated analysts forecast rate cuts in Australia due to the declining commodity prices, the majority of the banks’ … “Aussie Rises on Rate Expectations, US Problems”
5 Reasons Why Ireland Should Follow Greece and Default
The EU Summit on Thursday had some positive outcomes for Ireland. Is this enough for the debt hit Emerald Isle? Probably not. Here are 5 reasons why Ireland should also have some “private sector involvement” of its own. The interest rates in the bailout program were lowered. In addition, the struggle around raising its competitive … “5 Reasons Why Ireland Should Follow Greece and Default”
GBP/USD Recovering, EUR/USD Hesitant – Technical Analysis
GBPUSD: Recovery Strength Highlights The 1.6546 Level. GBPUSD: With a second week of recovery gains seeing GBP closing higher the past week, further upside gains is expected towards the 1.6546 level, its May 31’2011 high. On a clearance of this level, additional strength will aim at the 1.6743 level, its 2011 high and then the 1.6900 … “GBP/USD Recovering, EUR/USD Hesitant – Technical Analysis”
Continued Debates over US Debt Push USD to New Lows vs. CHF
The US dollar reached a new all-time low level against the Swiss franc, while staying strong against the other currencies today, as the US authorities failed to agree on the debt ceiling shift. With the default looming on the horizon for the world’s biggest economy, the traders seem to prefer the safety of the Swiss franc to the buying power of the US dollar. As the Republicans are still planning to block even the slightest increase in the permitted public debt size (from the current … “Continued Debates over US Debt Push USD to New Lows vs. CHF”