NZD/USD currency pair broke the support line of 0.5150. I’m following up on a post NZD/USD on the Edge that was written prior to this break, and after the huge interest cut of 1.5%. It came after the Building Consents squeezed by 6%. The fall of the New Zealand dollar was also helped by remarks by … “NZD/USD Broke Support Line – What’s next?”
Category: Opinions
NZD/USD on the Edge
The New Zealand dollar got two major blows this evening: A big rate cut and a bad Trade Balance. Looking at forex charts, NZD/USD is on the edge of major support line. Breaking it could show the way for deep plunge. First, RBNZ cut the interest rate by 1.5%! This dramatic cut was more than … “NZD/USD on the Edge”
Dollar Yen Currency Correlation
In the fast few weeks, the forex market has seen a correlation between the US dollar and the Japanese Yen. Whenever the dollar becomes stronger, the Yen beats everybody else, including the dollar. And vice versa. Whenever the dollar weakens, like today, the Yen weakens even more. Today, despite good data from the US, the … “Dollar Yen Currency Correlation”
Will Obama’s Stimulus Package weaken the Dollar?
Less than a week in office, and Barack Obama isn’t wasting any time. He’s pushing forward on all fronts, and regarding the stimulus package on particular. Despite the plan being helpful for the American economy, it will be very unhelpful for the US dollar. Obama’s $825 billion plan is huge: it is meant to help … “Will Obama’s Stimulus Package weaken the Dollar?”
GBP/USD Parity in 2009?
GBP/USD Parity in 2009? Yes, it sounds quite wild. While parity between the pound and the dollar never happened, the global crisis is so deep, that this is an option. GBP/USD in history The last time that GBP/USD has seen such levels was back in 1985. In September 1985, while there were riots in Brixton, … “GBP/USD Parity in 2009?”
There is a currency that always goes up
Stock markets go up and down. During these troubled times of a global economic crisis, stocks are tumbling down. Even on the day of Obama’s inauguration, stocks went down. In the Forex market, trading is in currency pairs – which means that when a currency weakens, it loses ground to another currency. So, there’s always … “There is a currency that always goes up”
Obama Inauguration and Forex Trading
In three days from now, Barack Obama will be inaugurated as the 44th president of the USA. The new American administration will definitely make a big change in economic policy and will also affect Forex Trading. Obama’s election, after almost two years of campaigning, was a historic one: he’s the first black president. Obama’s victory … “Obama Inauguration and Forex Trading”
ECB Rate Decision – A non event
Today, the European Central Bank will make a decision about the interest rate in the Eurozone. This is supposedly the biggest event this week, after last week’s Non Farm Payrolls in the US. Most economists and analysts are expecting a half a percent cut, from 2.5% to to 2%. But Jean Claude Trichet and his friends … “ECB Rate Decision – A non event”
Non Farm Payrolls – Where will it go?
The most significant event for the Forex market is tomorrow: the Non Farm Payrolls. This is a highly anticipated figure, that draw attention from all traders. NFP is the most important number for the US dollar, thus for every forex trader. The market always fluctuates wildly when the Non Farm Payrolls is published on the … “Non Farm Payrolls – Where will it go?”
Dollar-Pound Strange Correlation
There is a strange correlation between the US dollar and the British Pound. The pound goes further than the dollar, whichever direction the dollar takes. Whenever the dollar rises – the pound rises as well – and also against the dollar. And whenever the USD weakens, GBP weakens even more. Today, Januray 5th has been … “Dollar-Pound Strange Correlation”