Archive for January, 2009
Dollar Rises on Safe-Haven Status
Posted on30. Jan, 2009 by admin.
The USD may further extend its gains against the EUR today; on speculation that growing evidence of a global slowdown will increase the appeal of the U.S currency to traders as a safe-haven. The Dollar closed at $1.2889 per EUR from $1.3120, rising over 230 pips, the biggest gain in three weeks. The Dollar was [...]
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Dollar Strengthened by Fed’s Statements
Posted on29. Jan, 2009 by admin.
Yesterday’s trading was highlighted by the Dollar’s rally across the board after the release of the Federal Reserve’s statement on Wednesday afternoon during the New York trading session. The greenback jumped against the EUR with the pair plunging below a significant support level of 1.3100. The Dollar also reversed most of its downward momentum against [...]
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Dollar Slides against EUR and GBP on Risk Aversion
Posted on27. Jan, 2009 by admin.
The Dollar slid yesterday by over 250 pips against the Pound and EUR to 1.4044 and 1.3211 on risk aversions. This was sparked by good news coming out of Britain’s banking sector, led by Barclays, which said they won’t need the 4-billion-Pound government aid for their investment banking arm. The reason why this led to [...]
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Dollar Remains Bullish Despite Negative Data Releases
Posted on23. Jan, 2009 by admin.
Despite a slumping U.S economy, the Dollar continued to perform well against most of its major currency pairs on Thursday. The Dollar shrugged off more poor disappointing economic data from the U.S. yesterday, appreciating against the EUR and the GBP. The U.S. Census Bureau reported yesterday that building permits missed analyst’s forecasts while U.S. new [...]
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USD Remains a Safe-Haven from European Economic Woes
Posted on22. Jan, 2009 by admin.
The U.S currency rose against the EUR and the GBP on Wednesday as the failing British banking sector continues to weigh on the Pound. The greenback gained 5.3% versus the GBP in the past three days after the U.K. government’s plan for a second bank bailout in three months raised concern the financial crisis is [...]
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Dollar Jumps Ahead of Obama Inauguration
Posted on20. Jan, 2009 by admin.
On Monday, the U.S. Dollar made extremely significant gains against most of its major currency pairs ahead of Barack Obama’s inauguration, which takes place later today. This is in contrast to Sunday’s trading session that saw the Dollar go bearish against its main currency pairs, such as the GBP and the EUR. The Dollar’s rebound [...]
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USD Weakened by an Unloading of Safe Havens
Posted on19. Jan, 2009 by admin.
The U.S. Dollar ended last week in a losing position to many of its currency counterparts due to a number of factors. However, at the beginning of today’s trading it appears to have begun a rally against this recent downward movement. Ending last Friday down against the EUR and GBP, the USD has made small [...]
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The USD Recovery Continues
Posted on15. Jan, 2009 by admin.
The USD continues to trade between 1.3100-1.3300 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 1.3500 level stays untouched, there is a good chance that the pair may move lower again in the coming days. Risk [...]
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Dollar Rises on Risk Aversion
Posted on13. Jan, 2009 by admin.
Trader’s aversion to risk has continued to push safer currencies higher as global equity markets continue to trend lower. Both the Nikkei and Dow Jones Industrials ended lower yesterday and that has been influencing the currency markets. The financial markets show the concerns of a global recession. Traders have been unraveling riskier investments financed with [...]
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Detroit Auto Show Adds Confidence to the U.S. Economy
Posted on12. Jan, 2009 by admin.
The big news for the USD this week appears to be the continuation of its recent rally. Approaching 1.3400 against the EUR in today’s early trading hours, there is potential for the Dollar to remain in this bullish slide until other fundamental news shifts attention elsewhere. Also, while not absolutely certain, there is a distinct [...]
