EURJPY- The cross continues to face downside pressure selling off further on Tuesday and opening the door for more weakness. On the downside, support comes in at the 144.50 level where a break will aim at the 144.00 level. A break will target the 143.00 level with a breach turning focus to the 142.00 level. … “EUR/JPY: Bearish, Extends Sell Off”
Month: December 2014
Australian Dollar Mixed After RBA Minutes
Today, the Australian dollar rose against its US counterpart after reaching the new multi-year low earlier but fell versus the Japanese yen. The minutes of the central bank’s December policy meeting gave mixed signals to the markets. The Reserve Bank of Australia reiterated in its minutes that “the most prudent course was likely to be a period of stability in interest rates.” Yet policy makers also discussed speculations about possible interest … “Australian Dollar Mixed After RBA Minutes”
Russian Ruble Unable to Keep Record Gains
Russia’s central bank made a surprise massive interest rate hike today in an attempt to support the currency and tame accelerating inflation. While the Russian ruble surged on the news initially, it was unable to keep gains and fell. Yet as of now, the ruble managed to return above the opening level The Bank of Russia announced a substantial increase of its key interest rate by as much as 650 basis points to 17 percent. The central bank said in the statement: … “Russian Ruble Unable to Keep Record Gains”
GBPUSD: Declines On Price Failure
GBPUSD: With GBP taking back some of its past week gains to weaken on Monday, further decline is envisaged. On the downside, support lies at the 1.5600 level where a break will aim at the 1.5550 level. A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5500 … “GBPUSD: Declines On Price Failure”
Dollar Forecast: FOMC in Focus
The US dollar was demonstrating an incredible performance recently, rallying to multi-year highs against many of its most-traded peers. Yet the rally stalled as of now, making traders question what the future holds for the currency. The major event for the dollar (and the whole Forex market) this week will be the policy meeting of the Federal Open Market Committee. The event is important not only because it will be the last policy decision this … “Dollar Forecast: FOMC in Focus”
EUR/USD: Trading The German ZEW Dec 2014
German ZEW Economic Sentiment 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. Update: German ZEW jumps to 34.9 points – EUR/USD rises Here are all the details, and 5 possible outcomes for … “EUR/USD: Trading The German ZEW Dec 2014”
Dollar Gains vs. Major, Unable to Beat Yen
The US dollar rallied against its major counterparts today as a positive industrial output report fueled speculations about an early interest rate hike from the Federal Reserve. The greenback was unable to outperform the yen. US industrial production grew 1.3 percent in November, exceeding analysts’ expectations. Moreover, the October’s reading was revised from a 0.1 percent drop to an increase by the same rate. The data reinforced the view that the Fed’s policy … “Dollar Gains vs. Major, Unable to Beat Yen”
Norwegian Krone Remains Weak After Interest Rate Cut
The Norwegian krone remained weak today after Friday’s decision of Norway’s central bank to reduce its key policy rate. The bank predicted that borrowing costs will remain unchanged for the next two years. The Norges Bank cut its main interest rate by 25 basis points to 1.25 percent. The central bank said in the statement that global economic growth “remains moderate.” As for the domestic economy, the bank mentioned the detrimental effect … “Norwegian Krone Remains Weak After Interest Rate Cut”
Pound Drops as House Prices Demonstrate Record Drop
The Great Britain pound declined today as house prices demonstrated a record drop this month. The unfavorable data added to concerns that Britain’s economic recovery is struggling. The Rightmove House Price Index tumbled 3.3 percent in December. The drop, which followed the November’s 1.7 percent decline, was the biggest on the record. It fueled concerns that the UK economy is not in a particularly good shape and the Bank of England is not … “Pound Drops as House Prices Demonstrate Record Drop”
Euro Mostly Lower Against Major Counterparts on Greece
Euro is mostly lower against its major counterparts today, thanks to expectations of future weakness, along with another drop in gold prices. One of the biggest reasons that euro weakness is becoming an issue again is the fact that there are rumblings in Greece. And, of course, it doesn’t help that risk appetite is once again becoming an issue. In Greece, the presidential election is being advanced … “Euro Mostly Lower Against Major Counterparts on Greece”