Online Currency Trading

The US dollar finished week up against almost all of the majors, except the British pound and Japanese yen, but the currency actually did little but combine. Looking to the DXY index, one can indicate that the US dollar dropped on Friday was eventually advocated by an increasing trend-line around 80 linking the June 3 and June 11 lows. With struggle threatening just up at 81.35, this period of tense range-bound trade gives the currency at risk to breakouts this coming week, particularly since there is going to be quite a bit of event risk on hand from the US. On Tuesday, the National Association of Realtors (NAR) is expected to give details on that existing home sales went up ...

The US dollar finished on a mixed note on Tuesday; being beaten by the euro, Swiss franc, British pound, and Japanese yen whilst growing against the product dollars. Whilst the currency did bring about a concrete rally throughout the US trading session, it finally was not sufficient to cover the US dollar’s severe losses occurred throughout the European trading session. US economic news was largely blended, as the Labor Department stated that US producer prices went up by 0.2 % in May, but this monthly increase did not stop the annual rate from dropping additionally to a almost 60-year low of -5.0 %. The plunge in the annual rate indicates that Wednesday's US CPI release may be likewise weak on ...

A dreary week of European financial data and likewise monotonous price movement in the S&P 500 left the Euro/US dollar exchange rate more or less unaffected during the past week’s trade. Early-week EUR/USD losses at first indicated that the pair was probably to keep its lately sharp downside reversal, but markets rejected to let the formerly high-flying pair under significant lows of 1.3800. The following rally higher dropped short at also significant Fibonacci resistance at the 61.8 % retracement of the 1.4340-1.3800 action at 1.4130. A need of major market-moving developments would maintain the struggle between bulls and bears at its existing deadbolt, and it is hard to forecast what could really break the EUR/USD further than its current trading ...

The US dollar was in general strong on Wednesday, although the currency dropped in opposition to the Australian dollar and British pound, as Treasury prices pushed, sending yields up. Indeed, the yield on ten-year notes reached an intraday high of 3.99 %. This was the highest so far since October 2008 following the Bank of Russia first delegate chairman Alexei Ulyukayev stated that they would change some of their reserves from Treasuries to International Monetary Fund bonds. The statements reflect those of China, which has stated that it is enthusiastically considering purchasing as much as $50 billion of the IMF bonds, whilst Brazil’s Finance Minister Guido Mantega stated that they are going to buy $10 billion worth of IMF bonds....

The euro finished the week down against the US dollar, but the bulk of the pair’s decrease happened on Friday after the introduction of better than anticipated US non-farm payroll outcomes. EUR/USD fell around 200 points and finished under trend-line and psychological support at 1.4000, indicating that from a technical viewpoint, supplementary decrease might be coming up for the pair. There is as well probably for EUR/USD decrease from a basic viewpoint considering the European Central Bank’s (ECB) latest conference.

The ECB left rates unmoved at one %, and ECB President Jean-Claude Trichet’s succeeding press meeting at first provided some support for the euro, since he described existing rates “appropriate” and stated that latest data indicates that the ...

The US dollar and Japanese yen both dropped low on Monday, although the yen was the weakest of the majors, as investor sentiment kept on building in spite of the fact that General Motors Corp. filed for bankruptcy protection predictably, presenting $82.3 billion in assets and $172.8 billion in debt, with the US government put to hold a 60 % stake in the new entity by exchanging the volume of its $50 billion worth of loans. Risk appetite was so heavy that the DJIA rallied 2.6 % for a test of its 200 SMA at 8765 whilst the S&P 500 as well went up by 2.6 %, to break over its 200 SMA at 927, but closing under its previous ...