Turmoil in the U.S. auto industry had currency traders moving into safe haven positions of the Dollar and Yen. Further equity losses also contributed to a lack of confidence in the global economy and lower risk taking.
Today’s US Dollar Trading • USD holds gains after a stop-driven rally to highs• Majors hold key support on the dip, large names buying• Technical traders likely in control ahead of US data
Overnight Asia/Europe • USD firms overnight, stops drive a lot of trade• US rejects GM and Chrysler deal, equities fade• Traders continue to trade fear ahead of G-20
The Dollar rose yesterday against most of its major rivals as riskier currencies fell out of favor. Despite strong gains in U.S. equities, the Dollar gained ground as the likelihood of further European Interest Rate cuts loom...
Today’s US Dollar Trading • USD ends mixed after violent session• Traders confused over Geither remarks• GBP fails to follow EURO higher, USD/JPY near lows
Many forex traders in the market would be blind to have not noticed the sharp volatile movements occurring in the world’s primary currency pair: the EUR/USD. This tug-o-war between the two largest world currencies comes about as...
After yesterdays relatively calm trading session, today the economic calendar is filled with high impact data that threatens to sow large volatility into the market. From the wide range of news reports, ForexYard advises its traders to...
Today’s US Dollar Trading • Early USD strength fades after London fix• Stops noted driving trade from smaller accounts• Two-way action and technical trade dominate, more likely
U.S. Treasury Secretary Timothy Geithner unveiled plans last week for a public-private partnership of investors buying out toxic banking and housing debt. Since that time, investors have been in a frenzy to sell off the USD and...
Overnight Asia/Europe • USD mixed in two-way trade• Traders note mostly technical action, some stops seen• Majors retain a bid tone into New York
