Euro Open: Oil Drop, Georgia Conflict May Extend Dollar Gains
The Euro continued downward in Asian trading, passing support at 1.4884 to reach as low 1.4859. DailyFX Chief Strategist Jamie Saettele expects the Euro to decline as low as 1.4668. Near-term support stands at 1.4753, with resistance at 1.5159. Sterling traded lower overnight, bypassing support at 1.9082 to reach a…
Read More …
Asian Market Update
With little news to guide currency markets, the USD continued to gain ground against the majors (USD index hit a 6-month high in Asia). AUD/USD opened the Asian session weaker for a 10th consecutive day, with the pair finding some near-term support at 0.8760. USD/JPY upside looks relatively contained for…
Read More …
The Dollar Continues To Strengthen
The Euro (Eur/Usd) has been trading lower for the past 6 days, a period in which the pair fell close to 700 pips. The markets are now pricing the possibility of at least 25 basis points by the end of the year from the Fed, which empowers the dollar. In…
Read More …
Australia NAB Business Confidence
The National Australia Bank released the business confidence report this evening. The reading was the same as last month, coming in at a -9. This is the lowest level in the past seven years as consumers cut spending amid the highest borrowing costs seen in the past 10 years. Australians…
Read More …
US Dollar: Technical Support Levels May Finally Force The Rally To Pause
The US dollar rally showed few signs of exhaustion on Monday, as the currency rocketed higher across the majors despite there being absolutely no economic data on hand. However, there are technical indications that the greenback could be due for a pause. Indeed, the US Dollar Index ran into falling…
Read More …
Forex Exchange Morning Report
After a brief setback on hawkish ECB comments in London, USD quickly resumed its upwards march. Again, this came despite an empty US data calendar as USD enjoys ‘least worst’ status. Commodities came under heavy pressure once more, with gold price action catching the eye: spot gold drifted down $5…
Read More …
U.K. RICS House Price Balance
The housing market in the U.K. is remaining weak in July according to the latest release from the Royal Institute of Chartered Surveyors. The survey showed a reading of 83.9 percent of the surveyors reported house prices were falling instead of rising. This is a slim improvement over the 86.9…
Read More …
Japan CGPI
The price seen in corporate goods in Japan jumped 7.1% on the year, which is growing at its fastest rate since 1981, said the Bank of Japan. Analysts had been expecting a 5.7% increase which was also higher than the June reading of 5.6%. There has been a rising trend…
Read More …
Dollar Index at Crucial Resistance
The greenback continued its ascent Monday on falling crude oil prices and rising US stocks. Supported by weaker growth outside the US, the dollar also got some safe-haven flow from the fighting between Russia and Georgia. Sterling fell to a 21-month low and the euro traded near a 6-month low…
Read More …
Dollar Index And The Financial Sector
It was fascinating to see the dollar’s remarkable run to the upside continue from last week as traders come to the realization that a global slowdown is occurring and that a number of economies are now threatened by the specter of recession. The market is very focused on the dollar’s…
Read More …
