Market View for Dec 19, 2008 Today we have witnessed spectacular moves in foreign exchange once again. Today’s market has been a dollar positive across the board, with the dollar regaining ground against the Euro and...
Oil prices rallied in reaction to the record production cuts announced by OPEC, while the Dollar continued to give back the gains it made during the first 3 months of the financial crisis. In turn, the weak...
The Federal Reserve cut the main U.S. interest rate target to a range of 0 to .25% (record lows), surprising markets and giving traders the green light to sell the U.S. Dollar across the board. The Fed...
The Organization of the Petroleum Exporting Countries (OPEC) is expected to discuss a significant decrease in Oil production later today. A production cut of 2-2.5 million barrels per day could help raise the price of Crude Oil...
Today’s US Dollar Trading • USD fails to gain a foothold, ends lower across the board• Model accounts buying EURO, possibly going long• Volumes continue on the lighter side
Overnight Asia/Europe • USD starts weaker in Asia, two-way action• Japan Tankan below forecast• Most pairs at technical S/R
The EUR made huge gains last week against the Dollar with the largest showing made on Friday. These gains may signal a reversal to the Dollar’s rise in recent months.
Dollar volatility is expected today as traders are likely to act on yesterday’s lows against the EUR and JPY. This coincides with several important economic data releases coming out of the United States today. These include the...
Today’s US Dollar Trading • Equities firmer but two-way, majors follow-suit• EURO scores highs on stop-driven trade, closes firm• Technical levels in most pairs breached
Traders should look for the release of two key indicators today; the U.S. Trade Balance and U.S. Unemployment Claims. As reported earlier this week, the U.S. economy has seen a record number of new jobless claims. This...
