AUD/USD continues it’s march upwards, breaking the 0.68 resistance line. It rose on the wave of massive dollar selling that began with the shocking FOMC statement yesterday. The next resistance line is much stronger for the Aussie. AUD/USD was trading in a narrowing channel for a very long time. Downtrend resistance and uptrend support were … “Aussie Reached Initial Target – Resting Before Next Move”
Category: Forex news
Euro Declines in Correction Following Rally
The euro fell against the dollar and the yen today following the yesterdays unprecedented rally as the market participant speculate that ECB will have to follow Feds money-printing trend. The European currency rallied yesterday against the U.S. dollar after the Federal Reserve pledged to buy $300 billion in the U. S. Treasury securities, technically stating that it will print those money. The euro advanced by more … “Euro Declines in Correction Following Rally”
Pound Declines before Employment Report
The Great Britain pound declined against the other major currencies today on speculations that the employment report that is scheduled for the release today will show that the situation with labor market is worsening. Despite the continued gains on the global stock markets and the elevated interest for the high-yielding assets, the pound sterling fell for the first day … “Pound Declines before Employment Report”
Has American Housing Reached the Bottom?
Housing Starts and Building Permits were better than expected in the US. The real estate market, that began the crisis with the subprime crisis, might start to stabilize, giving new hope for the greenback. Building Permits rose by 3% to 547K (annually adjusted). This was the first good surprise. Expectations were for 500K. And the … “Has American Housing Reached the Bottom?”
Aussie Rises to New Monthly Maximums
The Australian dollar reached the new monthly maximum the Japanese yen as the stock markets signaled growth for a third day on improved earnings of the banks. The currency experienced a minor decline during the day as the markets reacted on the RBA minutes stating the necessity of the further interest rate cuts. But then the growth followed. The Aussie also fell against … “Aussie Rises to New Monthly Maximums”
Japanese Yen Falls for Third Day against Euro
The yen declined for the third day in a row against the dollar, the euro and the pound today as the Bank of Japan decided to buy the government debt and the stock markets rose during the Asian trading session. The G20 meeting resulted in a pledge to a collective easing of the monetary policy and fiscal stimulating of the economies to recover from the ongoing crisis. The … “Japanese Yen Falls for Third Day against Euro”
Danger for Dollar After Obama Relates to Treasuries
President Barack Obama publicly addressed China’s deep concerns to America’s ability to pay its debt. American debt has become scary to everyone. Chinese Prime Minister Wen Jiabao publicly asked if America could pay back its debt. China is biggest holder of US treasuries, and its hundreds of billion of dollars. With the growing debt, and … “Danger for Dollar After Obama Relates to Treasuries”
New Zealand Dollar Surges to Monthly High
The New Zealand dollar propelled to the monthly high against the U.S. dollar today, rising for the second day, as the stock marked continued to grow globally, improving the appeal of the higher yielding currencies. The Australian counterpart of the NZD also rose today against the other major currencies but not at such a fast pace as the New Zealand dollar. The commodity … “New Zealand Dollar Surges to Monthly High”
Yen Gains vs. Dollar for Third Day
The Japanese yen rose against the U.S. dollar for the third day in a row today as the global recession boosted the demand for the «safe haven» currencies, decreasing the attractiveness of the high-yielding assets. The yen also advanced significantly against the euro and the British pound that are vulnerable both to the yen and the dollar during the times … “Yen Gains vs. Dollar for Third Day”
Yen Gains as Chinese Exports Slump
The yen rose today against the other major currencies on Forex as the Chinas exports declined at a record fast pace and the largest Swiss bank reported an increased loss. According to the Chinas customs bureaus report the countrys trade surplus declined to the lowest level since February 2006; UBS reported $18 billion loss for the year 2008. After that the Japanese yen gained mostly against the … “Yen Gains as Chinese Exports Slump”