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FOREX TRADING NEWS ONLINE
FXstreet.com
USD Rallies, Testing Important Resistances
USD Rallies, Testing Important Resistances The dollar gained against most key currencies on mixed US economic data as jobless claims rose to an over 6-year high but June pending home sales unexpectedly increased over 5%. The dollar is overbought, at important technical resistances against its rivals. This may lead to some short-term consolidation, but the long-term USD outlook is positive. The dollar block currencies continued declining as their term-of-trade deteriorated on falling commodity
Jobless Claims Are Troubling Even After Discounting For Distortions
Jobless Claims Are Troubling Even After Discounting For Distortions The Initial jobless claims rose 7,000 to 455,000 during the week ended August 2. The number of applicants filing for unemployment insurance has risen 107,000 in the four weeks between July 5 and August 2. This large jump is attributed to the fact that extended unemployment benefits under a federal program are now available. According to Labor Department, several more than estimated have filed for benefits under this program as
New York Session
The ECB press statement was the focus in NY trading as Trichet's mild recognition of economic deterioration in the Euro-zone sent the USD higher. Trichet only went as far as saying that the recent data suggest some of the downside risks to growth may be materializing, but that was enough to send EURUSD down nearly 140 pips in the session. EURUSD opened NY trading near 1.5460 and initially shot up to 1.5500 on the ECB's continued hawkish inflation rhetoric. The pair would close near
U.S. Forex Market Commentary
EURO The euro weakened vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.5315 level and was capped around the $1.5500 figure. The common currency came within a few pips of establishing a new multi-month low dating to 8 May. There were two major reasons for the extension of the euro?s recent losses. First, traders were displeased with comments from European Central Bank President Trichet following the central bank?s decision to keep interest
U.S. Forex Market Commentary
EURO The euro weakened vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.5315 level and was capped around the $1.5500 figure. The common currency came within a few pips of establishing a new multi-month low dating to 8 May. There were two major reasons for the extension of the euro?s recent losses. First, traders were displeased with comments from European Central Bank President Trichet following the central bank?s decision to keep interest
Currency Trading News by DailyFX
Japanese Yen Surges On Return To Risk Aversion
The Japanese yen rose across the majors on Thursday, though the low-yielder hardly budged versus the greenback, as traders sell high-yielding and risky...
Commodity Dollars Down As Traders Continue To Sell High-Yielders
Weakness in commodities, risk aversion, and broad US dollar buying has weighed heavily on the high-yielding commodity dollars, including AUD/USD and NZD/USD.
British Pound Tumbles Despite BOE Decision To Leave Rates Steady -?? Why?
Looking at the British pound versus the US dollar on Thursday, one would think the Bank of England had surprisingly cut rates.
Euro Pummeled as ECB Turns Attention to Downside Economic Risks
Despite an initial surge higher, the Euro tanked following the release of the European Central Bank?s rate decision.
US Dollar: Bullish Break May Signal Additional Gains To Come
- Euro Pummeled as ECB Turns Attention to Downside Economic Risks - British Pound Tumbles Despite BOE Decision To Leave Rates Steady - Why?
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