Азиатская Сессия - November 18, 2009 6:02 AM

Сегодняшний день в Азии был, мягко говоря, не вдохновляющий, так как валютные рынки стали жертвой узких диапазонов и отсутствия каких либо важных данных или новостей. В основном, трейдеры сидели сложа руки и ждали сигналов от предстоящих данных, включая протокол заседания Банка Англии по монетарной политике в Великобритании, и потом чуть позже, индекс потребительских цен США и данные количества разрешений на строительство новых домов из Нью-Йорка. Full text »

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London Session - November 18, 2009 5:56 AM

Gains in EUR/USD accelerated in European hours before EUR buyers emerged at 1.4960. Softer stocks in Japan kept the lid on the risk trade in Asian hours but a better tone in European equities indices has coincided with a softer USD against the EUR, AUD and the NZD. Sterling has been subjected to a choppy morning. The pound initially plunged on the back of the release of the Nov MPC minutes. However, the unit has subsequently recovered. The softer USD has spurred gold to a high of USD1148.10 /troy ounce this morning. Full text »

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Asia Session - November 18, 2009 1:44 AM

Today was not an exciting day in Asia by any stretch of the imagination as currency markets were victim of tight ranges and a lack of any meaningful data or news. Traders mostly sat on their hands and waited for signals from upcoming data including the Bank of England’s monetary policy minutes out of the UK, and a little further down the road, the US CPI and Building Permits data out of New York. Full text »

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New York Session - November 17, 2009 4:48 PM

Poor economic data out of the US coupled with more jawboning in favor of the US dollar elicited a lackluster day for equities and resurgence in the buck. Stock markets closed up a smidge as a late day rally helped erase sharp losses early in the session. EUR/USD remained extremely well correlated with the risk trade and the pair squeezed down from a NY session open by 1.4880/90 towards the 1.4870 zone at last look. The recovery in stocks helped the pair come off the lows just above the crucial 1.4800 support level. Full text »

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U.S. Dollar Moves Higher in Currency Trading

Modest rally helps greenback in forex trading

The U.S. dollar is moving higher in currency trading on the FX market today. The euro is faltering in forex trading, and the greenback is gaining the upper hand — at least for now.

Yesterday, the story was different. Ben Bernanke tried to buoy up the dollar with rhetoric, but largely failed as the greenback tanked in forex trading, heading to 15-month lows.

Today, though, things are looking a little different. With equity markets pulling back and commodities losing ground, the U.S. dollar is finding support. However, this support may not last long, as it is expected that fundamentals will once again assert themselves as economic recovery progresses.

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Euro Heads Lower in Forex Trading

Euro drops below 1.4900

The euro is heading lower in forex trading on the currency market today. After seeing a rally yesterday, the euro is pulling back as the U.S. dollar takes the upper hand.

Part of the reason is likely due to some profit taking. Another issue is the fact that equity markets are falling right now, and the euro generally derives support from strong stocks. And, of course, the pace of economic recovery remains in doubt.

FX Street offers a look at the technical side of the euro in forex trading:

Ian Coleman, Analyst at Turtle Futures, comments: “We have hit some resistance at 1.4920 (was resistance now support). I am expecting a break here then looking to take off half the trade at 1.4893 (which is the daily trend line). If we break there it should be impulsively and take us down to 1.4696, my third wave target, pretty quickly.”

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London Session - November 17, 2009 6:09 AM

EUR/USD has drifted lower from its 1.5000 overnight high aided by comments from the ECB’s Trichet and a weaker tone in stock markets. The move back to USD1.500 wiped out any evidence of the fact that Fed Chairman Bernanke broke with convention yesterday to make mention of the USD. Bernanke’s acknowledgement of the headwinds that face the economy will continue to warrant low rates for an extended period effectively snuffed out any support for the USD. Full text »

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