Forex trading

Whilst awaiting the FOMC decision at 2.15pm EST and subsequent policy statement, the EURUSD has rallied to its present value of 1.4550(see chart). The consensus opinion is that the Fed will hold its interest rates at zero for an extended period. However, some experts believe that the fiscal...

The Euro experienced a torrid time overnight with the EURUSD slumping to lows of 1.4525 before rallying to its present value of 1.4540(see Charts). This further Euro deterioration has been mainly caused by two major events. Early this morning, the German ZEW survey posted a drop to 50.4 from 51.1...

Overnight, the EURUSD had fallen to lows of 1.4610 before Abu Dhabi announced that it would aid credit stricken Dubai with an $10 bail-out package. The EURUSD surged on the news to 1.4680 before retracting to its present value of 1.4650(see chart). The response was still deemed muted as many...

The US Retail Spending has just been posted recording a rise of 1.3% in November beating forecasts of 0.6%. In addition, US Import Prices also increased by 1.7% in November versus an expected 1.2% rise. Consequently, the EURUSD, that had rallied overnight to highs of 1.4775, has now fallen to its...

Overnight, the EUR/USD has hovered over its recent lows as worries concerning the economic health of Greece and Spain have weighed on the Euro. However, the US has just posted a rise in Jobless Claims to 474k versus an expected 457k, although its Trade Deficit has unexpectedly narrowed to $32.9B in...

The Euro managed to rally overnight to highs of 1.4780 before retracting to 1.4725 currently( see chart). This was despite European officials warning that the zone’s banks would need several years to correct their balance sheets and that a ‘huge wall of debt’ due for repayment over the next five...

Bernanke’s comment, stating that the US economy still faces formidable headwinds, has strongly influenced the markets overnight causing an increase in risk aversion. As a result, safe haven currencies, such as the USD and Yen, have benefited, during the early morning with EURUSD falling to 1.4750(...

The dollar surged on Friday after the release of the surprisingly good Non Farm Payroll figure that posted a monthly decline of only -11,000 jobs compared to an expected -125,000. Without doubt, on the surface this was an excellent result but deeper analysis showed that the improvement was mainly...

Overnight, the US Dollar struggled against the other major currencies although, in general, the markets were comparatively calm in wake of the all-important US Non Farm Payrolls. All this adruptly changed with the recent releases of the US NFPs and Annual Unemployment Rate. These were events were...