With only consumer confidence expected from the U.S. this morning, it was suppose to be a dull and quiet trading day but it is these uneventful sessions that have seen key levels broken in very big ways in the forex market. The dollar index rose to its highest level in nearly 3 years as EUR/USD breaks 1.28 and USD/JPY hit new highs on its way to 103. Consumer confidence soared in the month of May according to the University of Michigan. The index jumped from 76.4 to 83.7 reaching the highest level in nearly 6 years. The record setting performance of U.S. equities and the improvement in the labor market has made Americans feel more optimistic about the outlook for the U.S. economy. Even with the disappointments in d...
May 16th, 2013 - Daily FX Market Roundup 05-16-13 Talking Down the EUR Is the U.S. Dollar Losing its Grip on the Forex Market? AUD – Ninth Straight Day of Losses NZD – Shrugs Off Improved Budget and Business PMI CAD – CPI on Tap JPY – BoJ Policy Finally Affecting Investment Demand GBP – Potential ...
May 17th, 2013 - Daily FX Market Roundup 05-17-13 U.S. Dollar Scorecard – Best and Worst Performers USD/JPY Breaks 103 EUR/USD Resilience AUD – Extends Losses as Gold Moves Lower NZD – Shrugs Off Stronger Data CAD – Hit by Decline in CPI GBP – Big Week Ahead U.S. Dollar Scorecard – Best and W...
May 14th, 2013 - The U.S. dollar is trading higher against all of the major currencies this morning except for the Japanese Yen. Import prices was the only piece of U.S. data released today and the 0.5% decline was right in line with expectations and therefore barely elicited a reaction in the dollar. After hittin...
September 10th, 2012 - In the first week of September the European Central Bank lit the EUR/USD on fire with its latest acronym to save the euro – OMT, short for “Outright Monetary Transactions.†For most investors, OMT is just another ingredient in the central bank’s alphabet soup which already ...
