Wednesday, December 29, 2010

Bloomberg | Dollar Down | Oil $100

The dollar weakened versus its counterparts in Australia, New Zealand and Canada, as rising commodity prices boosted demand for currencies linked to raw materials exports.Oil hit $100 per barrel.

The U.S. currency fell against half of its 16 most-traded peers as U.S. economic reports indicated weaker-than-forecast growth, bolstering the Federal Reserve’s plan to keep U.S. interest rates low. The Canadian dollar reached parity with the greenback for the first time since Nov. 11. The Swiss franc strengthened to a record against the dollar as investors demand an alternative to the euro amid the region’s sovereign-debt crisis.

Monday, December 27, 2010

Sell GBPUSD

Sell GBPUSD

GBPUSD is facing a selling pressure pushing it down as long as it remains below (1.5486) any four hours close below (1.5383) will open the way for the instrument to test the next support level. Any four hours bare close above (1.5486) will change instrument`s direction. Traders should consider selling GBPUSD.

Saturday, December 25, 2010

Bloomberg | Yen

The yen fell against most major peers as Reuters reported that Japan said it will likely increase its reserves for intervening in the currency market. The dollar was poised for a weekly loss against 12 of its 16 most-traded counterparts as positive U.S. economic data spurred investments in riskier assets. Reports next week may show confidence among U.S. consumers improved even as housing remained weak.

The yen weakened against 13 of its 16 major peers. Japan will likely increase its reserves set aside for intervening in the currency market by 5 trillion yen ($60 billion) in the next fiscal year, Reuters reported, citing unidentified people. The pool is currently 145 trillion yen, according to the report.

The yen gained 12.1 percent this year according to Bloomberg Correlation-Weighted Currency Indexes, which track a basket of 10 developed-country currencies.

“Recoveries around the world appear to be picking up,” said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co. in Tokyo. “There seems to be risk-on sentiment, which is likely negative for the yen and dollar.”

Wednesday, December 22, 2010

Bloomberg | Dollar & Pound News

The Dollar
The dollar was boosted against the euro by the demand for safety and optimism the world’s largest economy is improving. The Commerce Department will report Dec. 22 that the U.S. economy grew at a 2.8 percent annual rate during the third quarter, up from its initial estimate of a 2.5 percent pace, according to the median of a Bloomberg News survey of 61 economists.

The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners including the euro, yen and pound, rose as much as 0.4 percent.

The Pound
The pound rose against the euro and the dollar after the Confederation of British Industry said in a report the Bank of England will start raising interest rates within six months.

Interest Rate
Minutes of the Bank of England’s Dec. 9 Monetary Policy Committee meeting, due Dec. 22, will likely show members remained split in their decision to keep the key interest rate at a record low 0.5 percent and to hold the asset-purchase program at 200 billion pounds.

Monday, December 20, 2010

Free Forex Trading Signals

Free Forex Trading Signals


The Free Forex Trading Signals for GBPUSD is as follows:
GBPUSD


Long Position at: 1.5522
Stop Loss at: 1.5492
Take Profit at: 1.5542 / 1.5554 / 1.5584



Friday, November 5, 2010

Dollar Weakens

Assets Purchases

The dollar fell after the Federal Reserve said it will buy an additional $600 billion of Treasuries to boost the U.S. economy.

Saturday, June 12, 2010

U.S. Retail Sales Falls

June 11 (Bloomberg) -- The dollar rose against the euro while erasing an advance versus the yen after sales at U.S. retailers unexpectedly fell in May, increasing concern the nation's economic recovery may be slowing.

Clearly the market doesn't like it
said Jessica Hoversen, a Chicago-based analyst at the futures broker MF Global Holdings Ltd.
You have slower consumer growth in an environment where the market is looking for the U.S. consumer to take over.


Retail sales decreased 1.2 percent, the biggest drop since September 2009, following a 0.6 percent April gain that was larger than previously estimated, Commerce Department figures showed today in Washington.

The dollar was little changed at 91.30 yen at 8:56 a.m. in New York, from 91.34 yen yesterday. It rose 0.2 percent to $1.21 per euro, from $1.2124. The euro declined 0.2 percent to 110.51 yen, from 110.72 yen, gaining 0.5 percent for the week.

Wednesday, June 9, 2010

Forex Trading News

June 8 (Bloomberg) -- Sterling fell against its major peers while the Australian and Canadian dollars rose as Fitch Ratings said the U.K.’s fiscal challenge is “formidable,” fueling demand for currencies of nations with strong balance sheets.

The dollar rose against the yen after Federal Reserve Chairman Ben S. Bernanke said the U.S. recovery is moving at a “moderate” pace. The Japanese currency fell against most major counterparts as Bernanke said he didn’t know when the Fed would begin the process of raising interest rates, boosting demand for higher-yielding currencies.

“The Fitch comments were a warning shot and highlight the risks if the U.K. doesn’t release a plan that’s strict and credible,” said Camilla Sutton, a Bank of Nova Scotia currency strategist in Toronto. “Bernanke’s comments were reassuring. Monetary policy will be looser for longer, and that’s a big benefit to markets that’s not fully priced in.”

The pound fell 0.5 percent to $1.4394 at 8:52 a.m. in New York, from $1.4468 yesterday. The yen slipped 0.1 percent to 91.48 per dollar, from 91.37 yesterday. Japan’s currency slid 0.3 percent to 109.27 yen per euro, from 108.95. It touched 108.08 yesterday, the strongest since November 2001. The euro was little changed at $1.1928, compared with $1.1923 in New York yesterday.

Australia’s dollar climbed 1.3 percent to 74.98 yen on speculation traders would boost carry trades, in which they borrow money in countries with low interest rates to purchase higher-yielding assets. Japan’s benchmark lending rate of 0.1 percent, compared with 4.5 percent in Australia, makes the yen a popular choice for funding such transactions.

U.K. Budget Deficit

Fitch suggested that British Prime Minister David Cameron will need to speed up budget-deficit cuts to protect the U.K.’s top credit rating. Treasury estimates show government debt- interest costs reaching 70 billion pounds ($101 billion) in five years, up from 31 billion pounds in the last fiscal year.

“The scale of the United Kingdom’s fiscal challenge is formidable and warrants a strong medium-term consolidation strategy, including a faster pace of deficit reduction than set out in the April 2010 budget,” Fitch said in the first statement by a credit-rating firm to discuss the U.K. since Cameron took office May 11.

The new government will unveil its emergency budget June 22, when Chancellor of the Exchequer George Osborne sets out reductions needed to tackle a deficit that rose to 11.1 percent of gross domestic product in the fiscal year through March.

Thursday, June 3, 2010

Interest Rates Increase

Interest Rate Increase

Options traders see a 78 percent chance of a rate hike at this month’s policy meeting by the Reserve Bank of New Zealand on June 10, according to an index from Credit Suisse AG.

The Bank of Canada raised its key interest rate from a record low yesterday, the first Group of Seven central bank to do so since July 2008.

“Because the Bank of Canada raised rates last night it opens the door for New Zealand to raise rates next week,” said Tony Allen, head of currency trading at ANZ National Bank Ltd. in Wellington. “There are more reasons to buy the kiwi than sell it at the moment.”

Australia’s dollar rose after the government said the economy expanded 0.5 percent in the first quarter and revised up the pace of growth for the final three months of 2009. The currency added 1.7 percent to 76.85 yen.