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Forex News Feeds
News and views from around the world related to the currency markets and Forex trading.
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FxStreet.com: The Advisor Weblog
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Grace Cheng's Forex Blog
Grace Cheng is a fulltime Forex trader. In this blog she gives her views on the currency markets.
Gold Nearing Traditional Summer Lows Prior To Rallying Strongly Into Autumn
Gold finished trading in New York yesterday at $922.70, down $25.50 and silver was down 55 cents to $17.38.
Gold has rallied in Asia and in early European trading with bargain hunting buying. Traders and investors with more medium to long term horizons realise that the speed and depth of the sell off is overdone. Especially [...]
Why A Contentious Election And Legislative Bottlenecks Pack A Profit Punch For Investors
By Keith Fitz-Gerald
For all their talk about change, the ultimate irony in today’s markets is that Washington is so afflicted with legislative gridlock that the “Beltway Boys” couldn’t “change” the channel on their flat-screen televisions.
And yet, as frustrating as legislative gridlock is for many voters (myself included), the data suggests [...]
New Zealand Surprises By Cutting Interest Rate
Well, the RBNZ did the right thing last night (at least for Macro Man’s portfolio!), cutting rates by 0.25% and suggesting that there’s more easing in the pipeline….at least as there’s no “excessive” exchange rate depreciation. Given that the last Monetary Policy Statement forecast a 10% or so decline in the TWI over the [...]
Thursday: Daily Forex Analysis
Today’s US Dollar Trading
• USD regains poise after early break
• Oil and equities help the upside
• Volumes moderate
Overnight Preview
• Expect two-way action
• USD to consolidate
Looking Ahead to Thursday
All times EASTERN (-5 GMT)
• 8:30am USD Unemployment Claims
• 10:00am USD Existing Home Sales
• 10:00am USD FOMC Member Geithner Speaks
• 10:35am USD Natural Gas … [visit site to [...]
Foreclosures Still Rising In California
Over the last few months I have been writing articles on the improving housing market in the Sacramento region, with a little Las Vegas thrown in. I write on these areas because I am familiar with the markets and these were some of the leaders of the recent boom and bust. Over the last 3 [...]
Long-Term View Of Market Unchanged Despite “Save The Housing” Bill
The US House of Representatives have given their approval for the further financial/economic destruction of the United States. I would like to thank all of the Representatives who voted no on H.R. 3221. This bill is not finished going through the process necessary to become law, so we wait for the official announcement. [...]
For Some Products, There’s Been Major DEFLATION
Rising food and energy prices have received a lot of media attention lately, along with concerns about the threat of inflation. The chart above (using BLS data via Economagic) shows a sample of products that have … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more [...]
Gold’s Tight Supply, Soaring Demand Could Keep ETFs Looking Sharp
Gold bullion holdings in the world’s largest gold exchange traded fund (ETF), SPDR Gold Shares (GLD), reported a net inflow of five tons for the second quarter, making for a total of 948 tons.
The price of gold averaged $896.29 an ounce in the quarter, reports Frank Tang for Reuters, $30 below its average price in [...]
Headwinds Index: How Long Can Financials Outperform Energy?
Two weeks ago, I introduced something I called the headwinds index, a simple ratio of financials (XLF) to oil (USO). It took another week for that index to bottom and the markets to rally, but since that bottom, financials have jumped 37% while crude oil has fallen 14% from its peak. The … [...]
Earnings Around The Markets Boost Energy, Food ETFs
Glug, glug, glug. That’s the sound of Pepsi’s second-quarter profit rising, which has bubbled up the food and beverage exchange traded fund (ETF).
PepsiCo (PEP) reported a 9% jump in profits in the most recent quarter, thanks to strong international sales and a weak U.S. dollar, reports Vinnee Tong for the Associated Press. The company is [...]
AT&T Strengthening Through Wireless
In this era where 80% of Americans now own a cell phone, the days before cell phones were our constant connection to the outside world are a memory growing more distant every day. Increasingly, professionals view mobile devices as an indispensable tool and individuals crave connectivity to the internet for email, gaming, and [...]
Brazil And Its ETF Aren’t All Growns Up…Yet
The iShares MSCI Brazil Index (EWZ) exchange traded fund (ETF) is treading water at the same place it did at the beginning of 2008.
With the country’s rapid appreciation in recent years, is there really more room for expansion?
The surprisingly quick pace of growth in this emerging country has had a long run. With a 600% [...]
Fall In Crude’s Impact On Emerging Markets: Israel May Benefit
Even with predictions of crude oil hitting $200-300 per barrel, the current drop in crude has it moving very quickly down to the $100 level. While investors have been focused on how the drop in oil will impact oil related stocks, I think they need to take a bit more of a Macro view and [...]
U.S. Bankruptcy To Become A Foregone Conclusion?
Gold
Gold finished trading in New York yesterday at $948.20, down $15.20 and silver was down 44 cents to 17.93. Gold continued to fall in Asia and in early European trading it is down by nearly 1.3%.
Gold was due a correction after its recent surge in price and remains up some 6% in the last month [...]
Dubai: More Bubble Or More Boom? Time Will Quickly Tell
By Martin Hutchinson
Dubai has plenty of qualities that catch an investor’s eye.
The emirate has the world’s only (self-proclaimed) 7-star hotel.
Dubai also is home to the biggest financial market in the Middle East, which is itself publicly quoted [...]
Wednesday: Daily Forex Market Commentary
EURO
The euro fell sharply vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.5670 level and was capped around the $1.5795 level. Technically, today’s intraday low was right around the 50% retracement of the move from $1.5305 to $1.6040. The common currency was dented by a further deterioration [...]
How Could Paulson Say Global Economy Depends On US Taxpayers?
The Wall St Journal has reported that US House and Senate leaders have agreed to a compromise deal on a housing package that would protect Fannie Mae (FNM) and Freddie Mac (FRE) in an emergency, overhaul supervision of these government-sponsored agencies, and allow the government to insure up to $300 billion in refinanced mortgages.
As Treasury [...]
Confluence Of Factors Boosts Dollar Further In Wednesday’s Forex Trading
The US dollar continues on its second day of rally in the forex markets, particularly against the Euro, Swiss franc and the Japanese yen, on the back of Philly Fed chief Plosser’s hawkish remarks yesterday. Today Plosser also repeated his words on Bloomberg TV, saying that the current accommodative rate stance may need to be [...]
USD Reverses Higher
Today’s US Dollar Trading
• USD reverses higher after a lower open in New York
• Traders note stops and liquidation off the lows
• USD/JPY flirts with close above the 200 bar MA
Overnight Preview
• Look for the USD to consolidate
• Two-way action ahead of minor news tomorrow
Looking Ahead to Wednesday
All times EASTERN (-5 GMT)
• 10:35am USD Crude [...]
Tuesday: US Stock Market Summary
Wild swings, just wild. FRE went from 6% down, to 8% up. Go figure. Mania rarely makes sense. Aren’t you glad you have a working brain? Me, too. Here’s a link to Hank Paulson’s speech today. Nice little bit of fictional reading, but don’t use it for the [...]
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Forex markets news: Round-up
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Forex Club - Sponsored Link
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Foreign Exchange
GREENBACK'S DECLINE PROMPTS TALK OF CENTRAL BANK RESERVE DIVERSIFICATION AND ENDING PEGS TO DOLLARCORPORATE FINANCING FOCUS The shifting sands in the foreign exchange market in 2007 undermined the dollar to the extent that China openly weighed what its
Dollar mixed on weak U.S., European data
(Xinhua via COMTEX News Network) -- The dollar rose against the euro and the pound, but fell against the yen on Thursday amid weak economic data from U.S. and the eurozone. The euro bought 1.5659 dollars in late New York trading compared with 1.5681
Dollar mixed after German, French business sentiment gauges fall
- 4:54 p.m. NEW YORK (AP) - The dollar was mixed against other currencies Thursday after reports showed eroding business confidence in Germany and France, the euro zone's biggest economies, amid pessimism over economic prospects. The 15-nation euro
US dollar sets 2-week high versus Russian ruble
US Economic News European Economic News Asian Economic News All Economic News FX Top Stories Currency Alerts Mkt Sensitive News Politics European Mkt Updates Asian Mkt Updates Treasury Mkt Updates Daily Market Analysis US Market Updates US Commentary
Canon Net Profit Down 16% In 1st Half On Strong Yen
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Despite good sales, Hyundai's profit down 11% on forex losses
Extract not available.
Gold ends marginally lower, as dollar gains
as the U.S. dollar continued to gain against most other major currencies, putting pressure on demand for the precious metal. Gold for August delivery ended down 50 cents at $922.30 an ounce on the New York Mercantile Exchange. The contract has tumbled
Dollar mixed on euro zone economic report
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US dollar sets 2-week high versus Russian ruble
(RTTNews) - The US dollar strengthened against the Russian currency in early Thursday trading. The greenback hit a high of 23.4088 against the ruble by about 4:10 am ET, compared to yesterday's closing value of 23.3390. This set a 2-week high for the
Japan stocks up 2 pct as exporters gain on soft yen
TOKYO, July 24 (Reuters) - Japanese stocks rose 2 percent on Thursday, and looked poised to mark a four-week closing high, as Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) and other car makers led gains by exporters on a softer yen and
Canon says assumes Y105 dollar/yen rate in H2 2008
TOKYO, July 24 (Reuters) - Japan's Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) said on Thursday it was assuming a dollar/yen exchange rate of 105 yen for the second half of 2008. Canon originally set its dollar/yen assumption at 107 yen for
USD Euro Technical Analysis for Forex Traders
area and slightly below. The 50 bar MA likely to offer support should the rate fall back; bids will likely be in the 1.5580 area or so on any meaningful correction; which is looking better after the break this week. Exponential reversal still valid.
Canadian dollar closed 0.29 lower at 98.69 cents US
- 4:36 p.m. TORONTO - The Canadian dollar closed 0.29 of a cent lower at 98.69 cents US on Thursday. The U.S. dollar stood at 101.33 cents Canadian, up 0.30 of a cent. Pound sterling closed C$2.0128, down 0.55 of a cent and US$1.9864, down 1.13 cents.
Yen Gains On Major Counterparts
(RTTNews) - The Japanese yen edged higher against other majors on Thursday in New York. The currency moved to a near-term high against the euro and moved away from a four-week low against the dollar. On the economic front, the Ministry of Finance said
Oil, Dollar Behind Food Price Rally
07/24/08 8:52:10 AM Free DTN Ethanol Newsletter Stay on top of the Ethanol Industryâ??s latest news by signing up for the DTN Ethanol Newsletter. Enter your email address to subscribe. OMAHA (DTN) -- Though recent studies have blamed U.S. ethanol
US dollar plummets to fresh multi-year low versus Brazilian real
(RTTNews) - The US currency declined to a fresh multi-year low against its Brazilian counterpart and weakened against Chilean peso and Peruvian Sol in New York afternoon deals on Thursday. At the same time, the greenback showed strength versus the
USD slides vs yen as housing, stocks weigh
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South African currency gains may not last long as fundamentals remain weak
JOHANNESBURG ? The impressive gains of South Africa?s rand and its resilience in the past month may not last beyond this year because fundamentals do not support a strong currency in the long term. The rand has gained 5.5 percent versus the dollar in
US dollar reverses early highs against Aussie and kiwi, now Aussie-greenback pair at 0.9598
(RTTNews) -
US dollar reverses early 3-month high against Israeli shekel
(RTTNews) - After hitting a 3-month high of 3.5121 by about 4:00 am ET, the US currency weakened against the Israeli shekel during New York deals on Thursday. At about 10:35 am ET, the greenback fell to 3.4691 from yesterday's close of 3.4840. Now, the
Dollar Rallies
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Adding Leverage To Your Forex Trading
by Selwyn Gishen (Contact Author | Biography) Print Comments In the foreign exchange markets, it is common to find leverage of 100:1 or even more. However, just because the market maker or broker may offer you leverage as high as 100:1, it doesn't mean
Asset management industry breaches trillion-dollar mark
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Won, peso rise but ringgit falls in Asian trading
(SINGAPORE) Asian currencies were mixed yesterday, with the South Korean won and Philippine peso rising on softer oil prices but the Malaysian ringgit taking a hit as the central bank sounded a wary note over policy tightening.
US dollar reverses early 3-month high against Israeli shekel
US Economic News European Economic News Asian Economic News All Economic News FX Top Stories Currency Alerts Mkt Sensitive News Politics European Mkt Updates Asian Mkt Updates Treasury Mkt Updates Daily Market Analysis US Market Updates US Commentary
AP: Dollar trades mixed; gold rises in Europe
LONDON (AP) - The U.S. dollar was mixed against other major currencies in European trading Thursday. Gold rose. The euro traded at $1.5672, down from $1.5681 late Wednesday in New York. Later, in midday New York trading Thursday, the euro fetched
AP: Dollar edges up against euro in European trading
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AP: Euro slips lower after German, French business sentiment drag lower
FRANKFURT, Germany (AP) - The euro fell against the dollar Thursday after new reports showed business confidence in Germany and France, the euro zone's biggest economies, fell amid strengthening pessimism over economic prospects. The 15-nation euro
Rupee ends four paise cheaper at 42.13/14 against dollar
Mumbai (PTI): Indian rupee today rallied to trade below 42-mark initially but could not sustain the gains and closed cheaper by four paise at 42.13/14 against the US currency as a heavy demand for the greenback emerged from oil refiners amid a downtrend
Mexico's Peso Closes Weaker At 10.0190/Dlr After CPI Report
By Anthony Harrup Of DOW JONES NEWSWIRES MEXICO CITY (Dow Jones)--Mexico's peso closed weaker against the dollar Thursday after a central bank inflation report came in higher than expected. For a second straight session, the peso hovered around MXN10 to
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