Thursday, March 4, 2010

On Wednesday, the U.S. Dollar lost ground to most major currencies except the New Zealand Dollar. Early selling pressure triggered a change in trend when this index took out the last main top at 80.14. In the process a new lower top was formed at 81.34. The charts are indicating that a [...]

Thursday, February 25, 2010

The U.S. Dollar regained most of its mid-session loss to finish only slightly worse than Tuesday. Comments from Fed Chairman Bernanke triggered an early session break after he reiterated the Fed’s stance that interest rates would remain low for an “extended period.”
Bernanke also emphasized that last week’s discount rate hike was not [...]

Wednesday, February 24, 2010

The U.S. Dollar mounted a strong turnaround on Tuesday following a weaker overnight trade. A surprise drop in consumer confidence in the U.S. and an unexpected fall in German business confidence reversed the Dollar higher against most major currencies. Both reports indicate that there are increasing concerns regarding the strength of the [...]

Friday, February 19, 2010
The U.S. Dollar is mounting a strong rally late in the trading session following news that the Fed is set to hike the discount rate by 25 basis points to 75 basis points. While not actually beginning a tighter monetary policy, a hike in the borrowing rate charged to member banks is [...]

Thursday, February 18, 2010
The U.S. Dollar posted strong gains against all major currencies as concerns about Greece’s ability to stick to its new strict budget flared up once again. In addition, a fresh wave of selling pressure hit the Euro after Moody’s Investor Service downgraded ratings on about 4 billion Euros of Greek bank hybrid [...]

Wednesday, February 17, 2010
The Euro soared on Tuesday as news that Greece is ahead of its deficit-reduction targets boosted investor confidence. Traders celebrated the news that Greece may not require any bailout from the European Union by driving the EUR USD higher while posting its biggest gain in seven months.
Short-covering was most likely the driving [...]

Wednesday, February 10, 2010
The Euro finished lower as the lack of concrete news regarding the European Union’s plan to guarantee Greece’s debt caused investors to remain nervous and skeptical that a resolution would be reached over the next few days.
The U.S. Dollar finished higher against most major currencies except the Canadian Dollar. The Dollar opened [...]

Tuesday, February 9, 2010
The EUR USD traded all over the intraday charts while experiencing a choppy two-sided trade throughout today’s session. Volatility and indecision could be the theme this week as traders are unlikely to make up their minds about reversing this market to the upside until a resolution is reached regarding the sovereign debt [...]

Thursday, February 4, 2010

The GBP USD spiked to the upside last night on the news that U.K. consumer confidence had risen more than expected, but backed down when U.K. services data failed to meet expectations. These stories provided more evidence that the Bank of England will likely leave its quantitative easing program intact or perhaps [...]

Friday, January 29, 2010

The U.S. Dollar is slightly better against a basket of currencies this morning after trading in a tight and narrow range overnight. Trading action was subdued as investors await this morning’s key U.S. GDP data. The Dollar is trading higher versus the Euro, Yen and Aussie Dollar while weakening against the British [...]

Thursday, January 28, 2010

The U.S. Dollar rallied to a new high for the year after the FOMC announcement offered an upbeat assessment of the economy.
While just about everyone knew the Fed would keep interest rates unchanged at near 0% for a prolonged period of time, traders did take note of the change in Fed language [...]