AUD/USD In Narrowing Channel – Break is Close

The AUD/USD is trading between an uptrend support line and a downtrend resistance line, and it will soon have to break somewhere. Fundamentals say the direction is up. Technical: As seen in the graph below, the AUD/USD is closed by a downtrend resistance line than began with a high in September, was formed in a … “AUD/USD In Narrowing Channel – Break is Close”

Read More

Obama’s Stimulus Bad For Dollar, Good For Economy

The stimulus package delivered by Obama spills a lot of money into the US economy. Printing of money devalues the currency, but I do believe that this pro active and extreme measures will get America out of the crisis quite fast. I’ve written in the past that the stimulus package will weaken the dollar, due … “Obama’s Stimulus Bad For Dollar, Good For Economy”

Read More

EUR/GBP Broke Downtrend Resistance

EUR/GBP made a strong move upwards, and broke resistance on the daily chart. Terrible Manufacturing Production in Britain pushed the Pound lower, while other currencies gained against the greenback. Parity now? Yesterday’s bad banking news from Britain pounded the pound. This was especially seen in the GBP/USD currency pair, as the Pound fell below 1.40, … “EUR/GBP Broke Downtrend Resistance”

Read More

Korean Won Rises as Asian Stocks Gain

The South Korean won rose for the third day against the U.S. dollar today as some Asian stock markets showed the growth and the high-yielding currencies were favored by the traders. The majority of the most-traded Asian currencies (except the Japanese yen) showed gains today that can be simply regarded as the correctional movement after one of the worst beginnings of the … “Korean Won Rises as Asian Stocks Gain”

Read More

Pound Falls on HSBC’s Bad Loans

The British pound fell against all major currencies today on the concerns that the United Kingdom’s largest bank will have a disastrous time handling the bad loans of its United States unit. The  U. K. currency declined against the dollar and the euro as both the U.K. FTSE 100 benchmark index and the Japanese Nikkei 225 dropped during the late Asian and early … “Pound Falls on HSBC’s Bad Loans”

Read More

Bad British Banking News Risks the Pound

Lloyds TSB, the biggest mortgage bank in Britain, was nationalized this weekend by the British government. This is bad news for the British Pound. HBOS “inherited” the bad assets to Lloyds, and now it pays the price. The British government now guarantees the banks money, but the bank, which was once successful, is now in … “Bad British Banking News Risks the Pound”

Read More

USD Falls as Financial Turmoil in U.S. Worsens

The U.S. dollar declined today against the other major currencies, after showing a good performance yesterday, as the investors expect that the labor market reports, that are to be released today, will signal a further worsening of the recession in the United States. The Japanese yen is the only major currency that is rising against the greenback for the second day today. It started to react … “USD Falls as Financial Turmoil in U.S. Worsens”

Read More

Indian Rupee Approaches Recent Record-Low

The Indian rupee declined against the U.S. dollar today, almost reaching a new record-low level, as the domestic companies converted to dollars in order to pay for the imported goods. Although, the risk-aversion level is quite moderate in the global markets today, the rupee falls as the Indian economy faces much greater risks among the other emerging countries. The drop in the dollar-denominated exports … “Indian Rupee Approaches Recent Record-Low”

Read More