Forex news

USD  The USD essentially found itself trading at the lower end of its range against the EUR on Friday. Having said that, the range remains weighted towards the greenback’s favor taking into consideration the gains it has made the past few weeks. The USD did gain versus the GBP too it should be noted. The U.S. released its Prelim GDP and it [...]

Nearly a week has gone by since it was announced by the European Union that an agreement was nearly in place that would stabilize the Greek debt situation. As time has gone by it has become clear that no such agreement exist and that many questions are still being raised about not only budget issues but accounting irregularities too. Europe [...]

USD: After a rather mild day of making slight gains and then giving some of them back to the EUR and GBP on Thursday, the greenback suddenly throttled forward against the major currencies when the Federal Reserve officially raised their Discount Rate for emergency lending to banks. The interest rate hike is not the Fed Fund rate, but the [...]

USD: After a few sessions of retracing and losing ground, the USD bounced back with a vengeance when the American trading session opened. After Monday’s banking holiday in the U.S., followed by a day of giving back some of its gains, the greenback pushed back in a strong manner on Wednesday and now finds itself near nine month highs versus [...]

EUR/USD: The EUR gains but is it enough to reverse sentiment? The Dollar is getting battered today as its G-10 rivals retrace recent losses. Is today's price action enough to reverse sentiment? From a fundamental and technical perspective, we are not ready to call out the EUR Bulls just yet. First the forex technical side; As we have [...]

CAD/USD: Giving the Greenback a run. The Canadian Dollar has been stuck in a very wide range since late September. The upper outer level of support is 1.0881, while support has also been seen around 1.0750 (+/-). CAD resistance is just south of 1.0250. The longer a Forex pair trades the range the more the MA's will consolidate. As we [...]

USD: Market divergence emerged in the currency markets on Thursday as the USD gained markedly against the EUR but range traded versus the other major currencies. The weekly Unemployment Claims were released yesterday and did come in better than expected with ‘only’ a 440K outcome compared to the estimate of 480K. Wall Street turned in [...]

USD: The USD traded in a rather tight range on Wednesday on a day that was highlighted by the release of the Federal Reserve’s statement on an ‘exit strategy’. However it must be pointed out that much of the day’s trading may have been muted by a severe winter storm that pummeled the East Coast and caused volumes to be less than [...]

USD: The USD lost ground to the EUR and GBP but the greenback remains in the stronger parts of its range against the two currencies. There was no major economic data from the U.S. yesterday but Wall Street bounced off of it lows and turned in a positive day. The Dow Jones Industrial Index finished the day above the 10,000 mark, which is [...]

USD: The USD lost a bit of ground to the EUR on Monday on a day of no major economic data. Wall Street turned in another lackluster performance as the major indexes in the U.S. declined. The lack of statistics however did not stop the chorus of disenchantment from investors who are questioning the statistics they are being provided with. The [...]