Online Forex Markets
Dollar index jumped to as high as 83.56 earlier today but failed to sustain above 83.45 cluster resistance (38.2% retracement of 88.70 to 80.08 at 83.37) and retreated. A temporary top should be in place
Sustained trading below 1.3 will target 100% projection of 1.4587 to 1.3072 from 1.3923 at 1.2408 next. On the upside, though, above 1.3190 minor resistance will argue that a short term bottom is possibly in
Yen retreats mildly in Asia today as Prime Minister Kan and Finance Minister Noda met today while Noda also stepped up the rhetoric, pledging to take "appropriate action" on recent "one-sided" move in the currency.
In the bigger picture, no change in the view that price actions from 0.9404 are consolidations/correction to medium term up trend from 0.6008. Rebound from 0.8066 is treated as the second leg inside such consolidation.
The dollar stood up surprisingly well this past week because pessimism remained an indelible part of the speculative crowds psyche. Given the aggressive correction in favor of the greenback in the trading week through the
A relatively uneventful week of trading left the EURUSD in a tight range until the very end; a near-2 percent decline in the Japanese Nikkei 225 sparked similar declines in European equity indices and took
There are plentiful trailing stops above 1.2740 which are coming into view. Lots of traders sold the break on Friday and of course have left tight trailing stop loss buy orders just above their entry
The GBP/JPY has most recently returned below 133.00, after reaching a session high of 133.35 in overnight trading. A strong Japanese yen continues to weigh heavily on the pair as risk aversion remains at high
Loss of yen crosses were relatively limited last week as markets were troubled by continuous speculation of an emergency meeting of BoJ, which indeed didnt happened. USD/JPY continued to hover around 85 level in spite
Euro was sold off sharply on dovish comments from the known hawk Weber, who could succeed Trichet as ECB President. ECB Weber said that discussions about continuation of the exit of stimulus measures will be
Popular Online Forex Market News
European equity bourses are lower after a lackluster session in Asia Pacific markets saw the Hang Seng index and the Shanghai SE composite fall by -.6%, and -.1% respectively.
The dollar fell on a dovish post-meeting statement from Federal Reserve Bank. At the monetary policy meeting ending today, the Fed maintained the federal fund rate at
The Hang Seng index, the Shanghai index, and the Nikkei 225 were higher by 3.1%, 2.9%, and 2.4% respectively. Chinas announcement to allow more "flexibility" in the exchange rate boosted risk appetite, with commodity currencies,
Commodities were mostly lower, with gold easing off near record highs above $1251, to trade at 1243.40 early in the European session. Crude oil fell for the second consecutive day, after hitting a five week
Commodities were slightly firmer on dollar weakness, with gold bettering $1236 and crude oil holding above the $77 per barrel mark. The dollar index continues to slide, falling below the 86 figure before settling around
The Nikkei 225 broke back above the 10,000 level, gaining more than 1.8% on the session, while the S&P/ASX 200 index advanced 1.2%. Chinese, Hong Kong, and Taiwanese markets were closed for holiday. European markets
Both of these subjects are facing dramatic changes in the day ahead with a scheduled G20 meeting, deteriorating financial conditions in already unstable economies and the prominent risk of a negative nonfarm payrolls reading on
Chinas announcement that it would allow its currency to fluctuate against the US Dollar instantly sent the Euro higher before Sundays open. As markets fully absorbed the substance of Chinas moves, however, the US Dollar
Comments from ECB member Noyer that banks have begun to hoard cash as they fear an ultimate Greek default, raised the anxiety level for traders as they had visions of the credit crisis, which initiated
During this past week, we have seen the new Chancellor of the Exchequer, George Osborne release his budget statement which is aimed to restore the fiscal surplus by 2015. Highlights from the emergency budget include