The increasing confidence in Prime Minister Gordon Brown helped the pound to rally to $1.50 for the first time in three months. The pound sterling has been showing a significant rise against major currencies since the beginning of the year, if compared to the USD, it has strengthened 2.6%, and more than 8% against the euro. Polls in the United Kingdom show that the Prime Ministers party, for … “Pound Surges as Confidence Grows in Financial Markets”
Author: admin_mm
AUD/USD – Just a False Break
AUD/USD breached the major resistance line, went 50 pips beyond it, and retreated. What can we learn from this false break? The Aussie began the week very close to the major resistance line of 0.7267. This was on thin trading, when European traders were still celebrating Easter. In the middle of the New York session, … “AUD/USD – Just a False Break”
Currency Options Show Strongest Sentiment for GBP in 4 Years
Great Britain pound traders’ optimism, suggested by the currency options market, indicate that a strong bullish sentiment against the euro is currently active on the Forex market. For a period of more than 3 years, the euro remained in advantage against the pound in the currency options market. This tendency has been reversed, as traders are now paying 0.25 percentage-point for one-week call options … “Currency Options Show Strongest Sentiment for GBP in 4 Years”
U.S. Economy Reports Push Down the Australian and NZ Dollar
The Aussie and the kiwi lost ground against major currencies as producer prices and retail sales fell in the United States, changing the speculations about the global crisis that «the worst is behind us». The world’s largest semiconductor company, Intel, reported less significant earnings in their first quarter results as the S&P 500 Index fell by 0.7%. These results destroyed the rumors … “U.S. Economy Reports Push Down the Australian and NZ Dollar”
Yen Grows as Stocks Fall in Japan
The decline in the Japanese stock market spurred a wave of growth for the Japanese yen today as the investors still unsure whether the recession trends are over or not yet. The yen rose against all major currencies, while the dollar advanced against the high-yielders only (remaining stable against the British pound, which is no longer a risk currency). While the corporate reports … “Yen Grows as Stocks Fall in Japan”
Inflation? Not So Soon…
Germany’s Finance Minister is worried the world may face an inflation crisis. Up to now, prices are just going down in this crisis. This week’s inflation figures across the world can tell us if this prices are moving, and if interest rates will change a direction. Peer Steinbrueck, Germany’s Finance Minister says that the current crisis is … “Inflation? Not So Soon…”
Aussie and Kiwi Gain as Risks Decrease
The currencies of Australia and New Zealand advanced against the Japanese yen and the U.S. dollar on the Forex market today as the traders clearly favored risk-ridden high-yielding assets despite the mixed stock trading session results in Asia. The growth of the high-yielding currencies was spurred mainly by the decline of the Japanese yen, which was clearly overbought during the last week. … “Aussie and Kiwi Gain as Risks Decrease”
AUD/USD at Critial Level
Forex trading started very well for the Aussie. It got an Easter bunny – getting close to the major resistance line. Will it break it on thin trading? AUD/USD started this forex trading week with a blast. It closed last week’s trading at 0.7191, which was within the trading range last week. In the wake … “AUD/USD at Critial Level”
Long Stock Market Rally and the Dollar
Wall Street has rallied for 5 consecutive weeks. This has contributed to the weakening of the dollar. This week, the stock market is challenged by a flood of reports that might stop the rally. Will the dollar make gains? Wall Street has enjoyed an uncommon 5 week rally. Stocks rose on good news and lots … “Long Stock Market Rally and the Dollar”
Euro Doesn’t Enjoy Good Friday
Thin trading and positive French data didn’t help the Euro today. The economic downturn in Europe is deep. It could fall more next week. Today’s holiday of Good Friday in many places around the world meant very thin trading. In such days, prices can move sharply, and sometimes break major lines, only to retreat later … “Euro Doesn’t Enjoy Good Friday”