Yen Dollar Correlation – Upside Story

The  US dollar and the Yen continue to work in correlation, and today, the dollar made gains – the Yen extended them. I’ve written in the past about the Dollar Yen Correlation. In previous events, such as the FOMC Trillion dollar printing statement, the dollar weakened, and then the Yen weakened even more. Today, it … “Yen Dollar Correlation – Upside Story”

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Yen Gains as World Economy Outlook Worsens

The Japanese yen rose against all other major currencies today as the traders reacted on the possible bankruptcy of the U.S. automakers and the global optimism for the emerging stock markets and the high-yielding currencies declined. The yen rose to the highest level in a week against the U.S. dollar and the 2-week maximum against the euro as the Asian stock markets … “Yen Gains as World Economy Outlook Worsens”

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AUD/USD New Resistance Line Formed

AUD/USD fails to extend its gains despite good economic indicators and strong momentum. A new resistance line has been formed, and might be tested later this week. Last week, the Aussie settled above the 0.70 line. There was no technical resistance there – just psychological. After a short struggle, AUD/USD traded nicely above this line, … “AUD/USD New Resistance Line Formed”

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EUR/GBP Locked Between Uptrend Support and Strong Resistance

EUR/GBP found strong resistance at the magical 0.95 line, and slipped downwards. It doesn’t have much room to move due to uptrend support. This week’s high volatility should push it over the top – breaking resistance on the road to parity.  EUR/GBP traded this week in a 250 pips range, from 0.9420 to 0.9170. In … “EUR/GBP Locked Between Uptrend Support and Strong Resistance”

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Ringgit Rises to New Monthly High

The Malaysian ringgit reached its monthly high today on the traders’ speculations that the demand for the emerging markets’ assets will increase as the recession eases. The emerging stock markets in the Asian region continue to rise and such currencies as the Malaysia’s ringgit and the Korea’s won are posting one of the longest gaining streak in their recent history. The stimuli from and … “Ringgit Rises to New Monthly High”

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Korean Won Grows on Dollar’s Decline

The South Korean won, which is the outsider among the Asian currencies in the current year, rose to near the 2-month high against the U.S. dollar today as the latter declined on the lower risk-aversion mood of the currency market. The inflow of the investors’ foreign currency into the Korean stock market allowed the domestic banking institutions and exporters to fulfill their demand … “Korean Won Grows on Dollar’s Decline”

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