America Prelim GDP is going to be published at 13:30 GMT. Expectations are low. This week’s course sees American data disappointing and the dollar rising afterwards – risk aversion at its best. Will the Euro make the dive? Forex Traders are expecting a severe downgrade of data from the Advance GDP that was published a … “What to Expect in Forex from GDP”
Category: Opinions
Euro Got Direction – Down
EUR/USD was looking for a direction at the beginning of the week. With the release of the disappointing German Ifo Business Climate, it got a direction for the rest of the week – down. The German Ifo Business Climate is a major figure in Europe’s biggest economy, and it was disappointing: it fell to 82.6, less … “Euro Got Direction – Down”
Bank Nationalization Fears To Hurt Euro
The European mini summit in Berlin supplied so headlines about bank nationalization and regulation. This could trigger the EUR/USD to open the forex trading week lower – with a weekend gap. Bank Nationalization was highly debated in the European mini-summit in Berlin. Although both EU leaders and ECB’s Trichet talked against nationalization, this issue is … “Bank Nationalization Fears To Hurt Euro”
EUR/GBP – Where is it going?
I’m revisiting the popular EUR/GBP cross. In the last post about this currency pair, I wrote about it breaking the support line of 0.88, on February 5th. After breaking that line, it stayed below Since then, it continued its decline, and reached a low point of 0.8640, on February 10th. But after hitting that low … “EUR/GBP – Where is it going?”
Dollar on Break From Recent Behavior
The US dollar took a break from gaining against other currencies. Also the risk factor took a break: US dollar fell when bad American data was published. Also the USD/JPY – Stock market correlation took a break. Let’s see what happened yesterday (Feb 19). The US dollar took a break from the upward trend after … “Dollar on Break From Recent Behavior”
AUD/USD Long – Pick of the week
AUD/USD provides an opportunity for a long position: it’s consolidating around the 0.65 mark, and with the rise in gold prices, it can reach 0.6650 soon, and push towards higher targets afterwards. Let’s look at technicals and fundamentals. AUD/USD Fundamentals The Australian economy is doing much better than other economies in the west. Growth, unemployment … “AUD/USD Long – Pick of the week”
Obama Stimulus Package to Weaken Dollar (Revisited)
Barack Obama’s stimulus Package was approved by both Congress and Senate. It narrowed down from $825 billion to 787$, but it’s still huge. Now that the final offer was approved, it’s time to look into it, and see how it will affect the dollar. On January 26th, I wrote that the stimulus package contains spilling … “Obama Stimulus Package to Weaken Dollar (Revisited)”
Forex Behavior Back to Normal
This week has been quite strange in forex trading. The risk factor played a major role in trading. But at least the behavior following the NFP release was normal. On Tuesday, Pending Home Sales in the US were quite high, much better than expected. Instead of being unchanged, the figure rose by 6.3%. Such a … “Forex Behavior Back to Normal”
Will Non Farm Payrolls Surprise?
Non Farm Payrolls may surprise today. Since expectations are low, at -530,000, a better than expected figure is quite possible. Forex traders and economists expect a total fall of 1.5 million jobs in 3 months. Such a figure will be terrible news, yet again, for Americans. There are job cut announces everywhere. But did they … “Will Non Farm Payrolls Surprise?”
NZD/USD goes lower on Labor Cost Index
In the wake of Forex trading in February, the Labor Cost Index was published in New Zealand, and it wasn’t good. The index did rise, but only at 0.7%, lower than a rise of 0.9% that was expected. In initial forex tradin this week, the kiwi lost ground to 0.5075 and extended its falls from last … “NZD/USD goes lower on Labor Cost Index”