2010-06-14: Dollar Dives on Short-Covering and BIS Report The US dollar appears to have lost modest ground against its primary currency rivals during short-covering at the end of last week’s trading. The Bank for International Settlements (BIS) released a statement on Sunday declaring that while European banks have lowered their reliance on dollar-based assets, there [...] [...more]
The EUR/USD pair kicked off during yesterday's trading session for a second consecutive day this week. Investors turned to buying the Euro after positive economic news in China. The pair received further support by Bernanke, who stated in his speech to act as needed to aid financial stability and economic growth, increasing the likelihood U.S. rates would remain at record lows even longer than previously anticipated. [...more]
2010-03-04: Dollar Falls vs. EUR on Positive ISM DataThe U.S. dollar traded lower Wednesday as investors moved to higher-yielding currencies and riskier assets after U.S. data was better than expected. ISM service data showed the U.S. services sector grew in February at its fastest pace in more than 2 years, reducing the appeal of the [...] [...more]
2010-03-03: EUR Recovers Slightly as Greece’s Budget Woes EaseThe USD fell Tuesday versus the EUR on comments from Greek officials regarding the government’s commitment to make major budget cuts necessary to reduce the deficit. Pressuring the Dollar further were hawkish statements regarding interest rate hikes from the Canadian and Australian central banks. EUR/USDAfter this morning’s [...] [...more]
2010-03-02: Safe Heaven Currencies Continue to Rise on High Risk AversionThe U.S. Dollar and Yen firmed against most major counterparts on Monday as investors trimmed stretched risk positions in higher-yielding currencies. The safe heaven currencies were bolstered by continuing investor concerns over mounting fiscal problems in Euro-zone countries and doubts over the pace of the [...] [...more]
2010-03-01: Non-Farm Payrolls Week BeginsAfter a week which was mostly characterized with the halt of the Dollar’s bullish trend, a hefty news week is impending. Australia, Canada, Great Britain and the Euro-Zone will all publish their monthly Interest Rates desiccations. And on top of it all, the U.S. Non-Farm Payrolls is expected on Friday. This [...] [...more]
2010-02-26: Bernanke Reaffirms Low Interest RatesRumors of another possible downgrade of Greece by Standard & Poor convinced traders to sell the EUR in favor of higher yielding currencies like the Yen, as well as the EUR’s traditional rival, the USD. But the Dollar’s gains have become muted since Federal Reserve Board Chairman Ben Bernanke continued [...] [...more]
2010-02-25: Forex Market Anticipates the Release of U.S. Unemployment ClaimsThe U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 13:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR [...] [...more]
2010-02-24: USD Furthers Gains on EUR ahead of Bernanke TestimonyThe U.S. Dollar saw some major gains on the Euro last night. The pair went as low as 1.3500 before rebounding to its current level of about 1.3540. Today, Fed Chairman Ben Bernanke is scheduled to testify before the U.S. Congress, an event likely to create [...] [...more]
2010-02-23: U.S Dollar Up ahead of Bernanke TestimonyThe U.S. Dollar briefly stayed higher versus the EUR on Monday and near an 8-month high versus other major currencies as traders await Fed Chairman Ben Bernanke’s testimony on Wednesday and Thursday that would set the tone for the greenback in the coming days and possibly highlight future [...] [...more]
