Archive for November, 2008
Black Friday Consumer Spending May Boost USD Volatility
Posted on28. Nov, 2008 by admin.
The USD was flat against the EUR and JPY yesterday for Thanksgiving, where a complete lack of US economic reports helped hold volatility to a minimum. During early trading hours, the greenback slipped to 94.95 against the JPY, and the EUR climbed to 1.2966, amid signs of worsening economic conditions and deterioration in investor confidence. [...]
Continue Reading
Dollar Expects Low Volatility During U.S Thanksgiving Holidays
Posted on27. Nov, 2008 by admin.
The USD has moderately strengthened against most of its major counterparts, continuing to prove that, for the time being, this is the solid currency that traders can rely on to provide them with steady profits. The EUR/USD stopped the upside move at a resistance level of 1.3080, and from then on it fell more than [...]
Continue Reading
Consumer Confidence Shaken; Fed Injects More Money
Posted on26. Nov, 2008 by admin.
The USD is falling on hard times, and right before the holiday season in the United States. During the week of Thanksgiving, an American holiday which falls on the fourth Thursday of November, the greenback has so far witnessed a sharp decrease in value against its currency counterparts.
It could be that American consumers are having [...]
Continue Reading
The release of Preliminary GDP Figures Today is expected to Add Downward Pressure to the Dollar
Posted on25. Nov, 2008 by admin.
Forex traders anticipate the U.S. Dollar to continue to drop vs. the EUR in response to the Citigroup bailout plan. Traders have boosted their money into more volatile currencies, such as the EUR and JPY as they see the safe haven Dollar less attractive.
The Dollar extended its losses for a second day against the EUR [...]
Continue Reading
USD Stabilizes against Major Currencies
Posted on24. Nov, 2008 by admin.
The past week has proven that the greenback is consolidating at its current levels against the major currencies. However, the USD is constantly attempting to break through these current levels and it appears that a bullish breach seems far more likely than a bearish one.
Last week was filled with negative data from the U.S economy. [...]
Continue Reading
The Dollar Rallies, Despite the Rise in U.S. Unemployment Claims
Posted on21. Nov, 2008 by admin.
Yesterday, the Dollar gained as investors withdrew from emerging-market assets to the safety of U.S. government debt, in what is set to be the worst financial crisis since the Great Depression. However, while the greenback has appreciated against high-yield currencies, it fell against the Yen. Yesterday’s U.S. jobless data intensified concerns and signaled more trouble [...]
Continue Reading
USD Recovers from Mid-Trading Day Losses and Gains on Stock Slide
Posted on20. Nov, 2008 by admin.
The USD experimented with a choppy trading session against its main currencies rivals yesterday, amid a slide on worldwide stocks. The market fluctuations were conditioned by a fall on Wall Street, which saw stocks plunge to their lowest levels since 2003. There was also a fall in shares in the auto industry threatening bankruptcy in [...]
Continue Reading
U.S. Building Permits on Tap
Posted on19. Nov, 2008 by admin.
The USD continues to trade between 1.2500-1.2800 against the EUR, and the pair seems to be moving without direction in anticipation of the next big event to hit the news. As long as the 1.3000 level stays untouched, there is a good chance that the pair may move lower again in the coming days. Risk [...]
