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Crude oil prices hit over $66 a barrel on Friday, setting a fresh high for the year and confirming their biggest monthly gain in over 10 years. July contract for Nymex WTI rose 92 cents and at one point touched $66.03 (up 29.8% this month). WTI is on course for its best monthly performance since [...]
The country’s forex reserves climbed $6.43 billion to $260.63 billion for the week ended May 22, compared with $254.20 billion in the previous week.Read more…
Volatility cools into the end of the week; but a glut of event risk next week promises to quickly revive the markets Monday. - With high-level event risk due next week, where will risk appetite fit into the equation?Read more…
JPN Retail Sales Decline Slows in April Japanese retail sales fell 2.9% in April compared to April of last year. That figure was better than forecast, but still reflects weakness in household spending as unemployment increases. It was the 8th straight month that sales were down. AUS Business Capital Spending Falls 8.9% in 1st Quarter [...]
The GFK Consumer Confidence Survey for May expected at -25, came in weaker at -27, same as the April reading. The Cable already trading off its recent highs did not budge on the release.Read more…
<!–TITOL: <h1 id=”titol”>Commodity pairs reach fresh 7-month highFITITOL–>FXstreet.com (Córdoba) – On Tuesday pairs related with commodities reached fresh 7-month high during the American session. CAD, NZD and AUD rose together with U.S. markets. <br /><br /> AUD/USD topped at 0.7881 and then pullback to 0.7860. The pair closed the day at the highest11 level since [...]
5/26/2009 2:00 PM: EUR/$..1.3989 $/JPY..94.95 GBP/$..1.5940 $/CHF..1.0836 AUD/$..0.7857 $/CAD..1.1169 Greenback Slumps on Equity Rally The greenback relinquished gains against the euro and Aussie on the Tuesday session as UK and US markets returned from holiday. The US equity bourses lauded earlier upbeat economic reports, with a sharp unexpected rise in the Conference Board’s May consumer [...]
The New Zealand Trade Balance for April came in better than expected and the prior months revisions were also improved, but the static markets have no reaction on US holiday. The numbers were released as follows: Trade Balance - Survey:250M Actual:276M Prior:324M Imports…Read more…
Equities lingered in light trade Based on my conversations with industry insiders and a quick glance at volume data suggests that few traders showed up for work this morning. As we have predicted in previous newsletters, traders took the FOMC minutes release on Wednesday afternoon as their queue to begin the holiday celebrations. Today’s trade [...]
————–(Snapshot at 8:00 a.m./2200 GMT)—————– FOREX (vs Late Sydney) DEBT FUTURES (Night Session) 0.7824 (0.7778) 90-DAY (JUN) 96.85 (96.84) 0.5575 (0.5588) 3-YR (JUN) 95.94 (95.92) 74.00 (73.31) 10-YR (JUN) 94.79 (94.805) 1.2651 (1.2668) US 10-YR 3.45 (3.35)Read more…
EUR/USD - Weekly Forex Analysis for May 25-29, 2009 Forex Factory EUR/USD (a daily chart of which is shown), after breaking out above the 1.3735 prior resistance on Wednesday of this past week, went on to make substantial bullish strides for the rest of the week. In the process, the pair has broken out above [...]
<!–TITOL: <h1 id=”titol”>Dollar ends week in the lowest level for 2009FITITOL–>FXstreet.com (Córdoba) – Greenback finished the week in the lowest level for 2009 against European currencies. To CAD and AUD is the lowest since September. Today dollar also lost ground falling across the board to new multi-month lows. The dollar index reached the lowest level [...]
Forex kitty dips $1.7bn; govt crosses WMA cap Economic Times, India According to the latest RBI data, total forex reserves, including gold and SDR dipped $1734 million to touch $254.2 billion as on May 15. Reserves dipped largely on account of dip in foreign currency assets which fell $1747 million. … Original post by Forex - [...]
The US dollar fell sharply on Thursday, but how will the markets fare in light of tonight’s Bank of Japan rate decision and Friday’s release of Canadian retail sales?Read more…
<!–TITOL: <h1 id=”titol”>FOMC Minutes of meetingFITITOL–>FXstreet.com (Jakarta) - On FOMC Minutes from the Fed’s April meeting, released today, showed that some Federal Reserve officials are open to raising the amounts of mortgage and Treasury securities purchase programs beyond the $1.75 trillion that they’ve already committed to buying.<br /><br />Officials, meanwhile, projected an even deeper [...]
NEW YORK (Dow Jones)–European currencies rose against the dollar for a second day Tuesday as U.S. stock markets traded in positive territory for most of the day, fueling a return of investor confidence that some say is unwarranted.Read more…
Homebuilders Survey Records Improvement, Will New Home Sales Follow? The Housing Market Index (HMI) of the National Association of Home Builders rose to 16 in May from 14 in April. The HMI has advanced in three out of the four months ended May. Sales of new single-family homes rose 8.2% in February and edged down [...]
A group of five traders who mysteriously moved en masse from the Israeli branch of Deutsche Bank to the local branch of Barclays received extraordinary terms. That’s why they made the jump, it turns out. For all the global crisis, the senior of the five is being paid $1 million a year.Read more…
Beyond its titanic battle to convince Hapoalim’s owners to fire the bank’s chairman, the Bank of Israel has other missions, no less important than protecting Israel’s banks from allegedly bad management. One is to find a way to end its daily forex intervention without jolting the market.Read more…
Comex Gold (GC) Gold edged higher to 934.8 last week but upside momentum remains unconvincing As it’s still struggling to take out channel resistance decisively yet. Nevertheless, we’re still favoring the bullish case as long as 9203.5 minor support holds. That is, correction from 1007.7 has completed at 865/865.6 already and rise from there should [...]
Dollar Plunge Stalled As Market Struggles To Define Risk And Reward Has the Euro Topped Against the US Dollar? Japanese Yen: Will Risk Flows Hold Up To A Severe Recession? British Pound May Lose Ground Amidst Release of UK CPI, BOE Minutes Swiss Franc Tumbles on SNB Intervention Threats - Should You Worry?Read more…
The Swiss Franc finished the week lower against major forex counterparts, as Swiss National Bank verbal intervention increased fears that the bank would once again intervene in foreign exchange markets.Read more…
<!–TITOL: <h1 id=”titol”>Dollar down as risk appetite returnsFITITOL–>FXstreet.com (Buenos Aires) - Renewed risk appetite after a small rebound in Wall Street that rose 0.6% helped Euro and Gbp to regain the upside late in the American session. Asian markets are expected to continue the ride after sharp losses yesterday, increasing dollar losses in the next [...]
Here’s what it looks like when you are down. But remember the bottle half empty is the same bottle that is half full. Change your perspective, don’t join The Losers Club - the support group for people who keep having really bad luck. Here’s what it looks like when you are down. But remember the [...]
The POWER FOREX Can Secure a Future Free of Financial ConcernsYOUR FOREX OPPORTUNITY WORLDWIDEWall Street, the Banks and the Corporate Fat Cats Already Have Theirs..…And they continue to take yours. Are you enjoying this? Believe us when we tell you things are going to get much worse. Are you still trying to “take-on†the Big-Boys with more free e-book nonsense? Good [...]
Small Business Optimism Index Improves The Small Business Optimism Index rose 5.8 points to 86.8 in April, which is a significant improvement from the close-to-record low reading posted for February (see chart 1). The index tracking employment indicated that fewer employers were shrinking payrolls and the index measuring plans of firms to increase capital spending [...]
The pound finds volatility through unexpected labour data. Which currency will top the market mover list tomorrow?Read more…
NEW DELHI: Tourism in India may well be out of the woods if latest data is anything to go by. While the number of foreign tourist arrivals is still less than April last year, significantly, foreign exchange earnings have gone up.Read more…
MANILA, Philippines—The North African country of Libya is poised to be a strong market for skilled overseas Filipino workers (OFWs) this year as it is in need of more than 16,000 migrant workers, Labor Secretary Marianito Roque said over the weekend.Read more…
The US equity market could contain Thursday correction and Dow could close at 8574. These interior corrections keep the equities markets rally from a major correction technically until now. The market has seen last Friday that the Jobs market is getting better too but at a slower pace than the gradual pace of the other [...]
Knowledge is key to success in any business and learning to become a forex trader is no exception to this rule. There are a great many people making a killing in the online foreign exchange industry, it is a good business to become involved in, and it can be extremely lucrative.Read more…
<!–TITOL: <h1 id=”titol”>Dollar weakened across the board; EUR/USD ends at one-month high around 1.3650FITITOL–>FXstreet.com (Córdoba) – Markets rose today in the U.S. and ended the week with solid gains. Dow Jones gain 2% to 8,574. For the week the index ends with a 4% increase. Today’s impulse came from the unemployment report that showed a [...]
NEW YORK (Dow Jones)–The dollar fell hard Friday, hitting a six-week low versus the euro, as higher stock markets, a better-than-expected U.S. jobs report, and broad optimism in financial markets led investors to stop hoarding so much of the U.S. currency.Read more…
