forexRbot » currencies

USD: Tracking Yields

admin — Thu, 29 Jul 2010 05:20:20 +0000

It was comeback day for the greenback, which rose strongly against the Japanese Yen, Swiss Franc and Canadian dollar. Even though the euro, Australian and New Zealand dollars ended the day unchanged against the buck, an intraday U.S. dollar rally forced higher yielding currencies to give up nearly all of their earlier gains.

Usd: No Surprises From Beige Book

admin — Wed, 28 Jul 2010 17:20:11 +0000

Currencies traded heavy for most of the North American session on the heels of weaker U.S. economic data and reports of lackluster growth across the nation. Having bucked the trend yesterday, the U.S. dollar slipped against the Japanese Yen and rose against other currencies as risk appetite retreated.

Forex: Durable Goods and Beige Book to Weigh on Risk

admin — Wed, 28 Jul 2010 08:49:08 +0000

Currencies are trading heavy this morning with the U.S. dollar retreating further against the Japanese Yen after the surprise decline in durable goods orders. With the Federal Reserve releasing the Beige Book report today, a cloud will be hovering over the financial markets, preventing any meaningful rallies.

Risk FX Rallies As Eco Data Surprises

admin — Tue, 27 Jul 2010 04:08:08 +0000

Surprisingly strong economic data provided the fuel for a surge in risk currencies on the last trading night of the week, as euro reversed its earlier losses while pound recaptured the 1.5400 level after UK GDP figures beat estimates by a wide margin. The euro had come under strong selling pressure early in European trade after rumors circulated that several Spanish cajas had failed the stress tests due later today. Markets sentiment remained cautious ahead of the release of the report at 16:00GMT that will reveal the financial status of 91 European banks.

Bernanke Has Spoken And Markets Have Fallen

admin — Tue, 27 Jul 2010 04:05:10 +0000

Bernanke has spoken and the markets have fallen. Although currencies traded heavy for most of the NY trading session, the selling exacerbated when the Fed Chairman took the stand and delivered his twice a year testimony on monetary policy and the economy. Bernanke’s comments were not a big departure from the Fed minutes released earlier this month but to hear the pessimism from the horse’s mouth was enough to crush any lingering optimism.

USD: 3 Questions For Bernanke

admin — Tue, 27 Jul 2010 04:04:42 +0000

U.S. equities turned positive, erasing triple digit losses in the second half of the NY trading session. The improvement in risk appetite also extended to currencies as safe haven flows eased out of the U.S. dollar. The British pound, Swiss Franc and commodity currencies benefitted from the weakness in the greenback.

Cautious Bid For Risk FX in Aftermath of Stress Tests

admin — Mon, 26 Jul 2010 05:00:03 +0000

Risk currencies were mildly higher in the aftermath of Friday’s results from Eurozone stress tests which revealed no major negative surprises to the market. With only 7 out of 91 banks failing the test, currency markets reacted with cautious optimism to the report rallying the EUR/USD above the 1.2950 level in early morning trade. Although many market participants remained skeptical about the rigor of the tests with several analysts pointing out that the focus on the banks’ trading books was an incomplete measure of the risk to their balance sheets, others noted that the true value of the exercise was in displaying greater transparency to the market which in turn provided a measure of confidence to investors.

USD: Expect More Housing Weakness

admin — Mon, 19 Jul 2010 17:20:28 +0000

It has been a quiet start to a busy trading week with equities consolidating after Friday’s sharp losses and the dollar trading mixed against other major currencies. The greenback strengthened against the pound, Japanese Yen, Canadian and New Zealand dollars but weakened against the euro and Australian dollar.

EUR: Counting Down To Stress Tests

admin — Sun, 18 Jul 2010 05:20:10 +0000

Currencies and equities may have sold off aggressively but the euro ended the NY trading session virtually unchanged against the U.S. dollar. The currency’s resilience in the face steep losses elsewhere reflects a fear of being caught short and missing the move (China’s comments also didn’t hurt – see JPY). The EUR/USD fell from 1.30 to 1.19 in a little more than month and it took the same amount of time for the currency pair to recover the move.

USD: Fed Sees More Pain

admin — Fri, 16 Jul 2010 05:20:09 +0000

Currency traders dumped the dollar today after a weaker than expected retail sales report and renewed pessimism from the Fed. Despite a pickup in the equity market into the June FOMC meeting, a rather abysmal employment report that showed only a 33k increase in private sector payrolls out of 433k new jobs, forced the central bank to admit that the risks to the economy have now shifted to the downside. As a result, traders have turned on the dollar, sending it lower against most of the major currencies.