Thin Volumes & Momentum

28-12-2010

Monday proved to be the quietest day of trading for 2010 as volumes were derailed by investors celebrating the holidays and the addition of a winter snow storm in the U.S. which meant some traders who may have wanted to participate in the action were not able to get to their respective offices. The currencies traded in very narrow ranges most of the day. The USD managed to keep its strength against the EUR and GBP. However in late trading the USD did give some ground back to the EUR. The AUD remains an interesting currency to watch as it propels to new highs. It has done this as Gold has moved to the strong side of its consolidated ranges. Volumes will continue to be in question today and the remainder of the week. Traders must remain alert about short term divergence, which may find values under the whims of sudden momentums due to imbalances in the marketplace.

Today the U.S. will release the CB Consumer Sentiment reading and the S&P/CS Composite-20 HPI. While the Consumer Sentiment reading is expecting an improvement the housing price index figures are forecasted to be negative. There will be no other major data today. The U.K. and Canada remain on official holiday. Tomorrow the U.S. will release no major data and Europe will remain relatively quiet with the inconsequential German Prelim CPI figures on schedule. Thursday will see some data from the States with weekly Unemployment Claims, Pending Home Sales, and Crude Oil Inventories. Friday will see extremely light trading as many nations take holidays for the New Year, which falls on Saturday. In essence today will provide some interesting numbers from the States, but the question is who will be around to gauge the statistics.

The EUR and GBP both remain under a cloud of concerns that come from a combination of government debt, austerity plans, and the ability to create growth in a tough economic environment. The JPY has found itself moving back to the stronger sides of its known range against the USD and traders should remain alert regarding its holiday momentum.

USD Steady Overall 21-05-2012

The Dollar is trading slightly lower this morning against the Euro, as finance ministers from the G8 summit that took place at the end of last week acknowledged that their agenda is to keep the Eurozone intact and prevent a Greek exit. The EUR/USD is up during early European trading by 0.04%, sitting at 1.2784. Leaders at the G8 summit [...]

Greek Exit More Likely Than Ever 18-05-2012

The small change in direction experienced by the markets on Thursday was short lived, as the Euro once again stumbled against the greenback during Asian trading on Friday. The EUR/USD is down 0.40% and trading at 1.2647. The USD gained some ground on the single currency after yesterday’s Unemployment Claims report in the United States [...]

Trends Reverse…Slightly 17-05-2012

The Euro is up slightly against the greenback during early European trading on Thursday, but remains far below levels from two weeks ago. The EUR/USD is up 0.18% and trading at 1.2739 this morning, rebounding from a 0.10% decline during yesterday’s trading in the United States that saw the pair close the session at 1.2717. The Dollar is [...]

The Collapse of Oil Prices Continues 16-05-2012

Early trading on Wednesday saw a continuing trend of investor concern towards the Greek political crisis and a rush to the greenback. With the chance of Greece leaving the Eurozone more likely with each passing day, the Euro continues to struggle against the Dollar. The EUR/USD is down 0.11% in early European trading this morning, at [...]

European Uncertainty 15-05-2012

The U.S. Dollar was up against most major currencies on Monday, as investor uncertainty regarding the Greek political crisis continued to push investors towards the safe haven of the greenback. The Euro is up slightly at the beginning of the European trading session on Tuesday by 0.05%, sitting at 1.2828. The Euro has declines sharply [...]

Euro Falls Once Again 14-05-2012

Political uncertainty in Greece and mass protests in Spain has pushed the EUR/USD down 0.15% to 1.2897 during late Asian trading on Monday. In fact, the greenback was either steady or up against most major currencies as traders searched for a temporary safe haven in order to dodge uncertainty in the markets. The increased value of the [...]

Time Is Ticking For Greece 11-05-2012

The Euro is back on the decline during Asian trading on Friday, with the EUR/USD down 0.14% and trading at 1.2920. The pair continues to hover at around 1.3000 after the single currency took a major hit due to fears surrounding political instability in Greece and future fiscal policy in France. The pound is also down against the greenback [...]

Euro Declines Stop 10-05-2012

The Euro has rebounded slightly against the USD during Asian trading on Thursday after posting huge losses over the last several days. The EUR/USD is up 0.15% and trading at 1.2946. The majority of major currencies are also up against the greenback this morning, including the Pound, Swiss Franc and Australian Dollar. The Aussie posted [...]

Euro Decline Continues 09-05-2012

The beginning of trading on Wednesday continued the negative trend of the Euro and oil. The Euro continues to decline sharply, down 0.24% and trading at 1.2975. The EUR/USD broke through the 1.3000 barrier earlier this week after European elections in France and Greece cast a shadow over the future of the single currency. The Euro is also [...]

Declines Continue for Oil and Euro 08-05-2012

The Euro is down once again during late Asian trading on Monday, after suffering huge losses yesterday. The EUR/USD is down 0.15% and trading at 1.3032. The single currency did manage to recover somewhat during late trading yesterday, rebounding from a decline of 0.81% at the end of the Asian trading session. Investors continue to show [...]

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