US dollar is higher as uncertainty grows in the eurozone. Concern about what’s next for the eurozone, and for the US economy, is the highlight as we start the week out, and that is providing a boost for the greenback as a safe haven. Forex traders are trying to wrap their heads around what’s happening right now, and the US dollar is higher as everyone takes a step back. Risk appetite did make an appearance earlier, with the announcement … “US Dollar Higher as Uncertainty Grows”
Month: June 2012
Pro-Bailout Politicians Win in Greece; Euro Down Anyway
Even though pro-bailout politicians won in the Greek elections over the weekend, the euro is heading lower against its major counterparts. Relief over the outcome in Greece gave the euro a boost earlier, but that quickly gave way as the spotlight turned to shine on Italy and Spain. Now that the Greek situation looks to be largely resolved, and many expect that the conservative majority politicians will be able to form a government, Forex … “Pro-Bailout Politicians Win in Greece; Euro Down Anyway”
Is the U.S Economy Losing Momentum?
Some may blame the effect of Obamanomics for the current stall in any long term financial recovery for the U.S, but whether or not the path that he has chosen to tread is helping or hindering the process, the evidence is clear for all to see, that many Americans are currently struggling with their money. … “Is the U.S Economy Losing Momentum?”
EUR/USD At Strong Resistance – Bearish Reversal In View
The euro reached new highs in recent sessions, after another Sunday gap. Prices extended above 1.2700 region where the market will be looking for a top. Based on the structure of a recovery from 1.2290 we are still very confident that this is a contra-trend movement and that sooner or later prices will sell-off. Guest … “EUR/USD At Strong Resistance – Bearish Reversal In View”
EUR/USD: Trading the German ZEW Jun 2012
The German ZEW Economic Sentiment Index is based on a monthly survey of institutional investors and analysts and their views of the German economy. A reading that is higher than the market forecast is bullish for the Euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 9:00 GMT. … “EUR/USD: Trading the German ZEW Jun 2012”
US Still growing but not a Global Locomotive
Towards the Fed decision, it’s time to look at the situation in the US. The picture isn’t that bright. The traditional locomotive of the global economy is not a locomotive of growth. For a third year in a row, the beginning of the year was optimistic, with nice job growth and encouraging indicators. Jobs: The job … “US Still growing but not a Global Locomotive”
How to Trade the Greek Elections with EUR/USD
The elections in this small island nation are a big event that is highly anticipated by the markets, and the results will be felt for a very long time. The reaction will likely be a roller coaster. The initial reaction in the markets may turn into a significant counter action. Here is the expected market … “How to Trade the Greek Elections with EUR/USD”
Yen Beats Most Majors, Posts Weekly Gains
The Japanese yen gained this week against most major currencies as market sentiment was spoiled not only by fears of the European sovereign-debt crisis, but also by concerns that economic recovery in the United States is faltering. The week started seemingly bad for safer currencies as a bailout for Spain lifted traders’ mood. The optimism was short-lived, though, and fears returned, especially after Moody’s Investor Service cut Spain’s credit rating. … “Yen Beats Most Majors, Posts Weekly Gains”
Dollar Suffers from Bad Fundamental Data
The US dollar fell today after bad fundamental reports spurred speculations that the Federal Reserve would implement the third round of quantitative easing nest week. The currency closed flat versus the euro. Industrial production fell 0.1 percent last month instead of rising as was expected. The University of Michigan preliminary index of consumer sentiment unexpectedly dropped to 74.1 in June from 79.3 in the month before. The bad data supports the case … “Dollar Suffers from Bad Fundamental Data”
Aussie Gains vs. Greenback & Euro, Falls vs. Yen
The Australian dollar rose against its US counterpart and climbed to the highest level since March versus the euro today. The currency declined against the Japanese yen, though trimmed its losses. The Australian currency (often called “Aussie”) managed to rally today even amid uncertainty about the future of the eurozone ahead of the Greek elections this weekend and poor macroeconomic reports from the United States. Rumors about coordinated efforts of central banks … “Aussie Gains vs. Greenback & Euro, Falls vs. Yen”