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Archive for aussie dollar

Currency Markets – Currency Trading Outlook 12th August 2009

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Wednesday, August 12th, 2009

Currency Markets – Asian Trading Overnight

The dollar and euro extended their falls against the yen in Asia Wednesday as weaker regional share markets prompted investors to buy the safe haven Japanese currency. However, currency traders expect any further falls later in the trading day to be limited ahead of a U.S. Federal Reserve statement. Following U.S. stocks’ retreat overnight, Asian equity markets slumped, with Japan’s benchmark Nikkei 225 Stock Average down 1.4% and the Shanghai Composite off 2.4% in early afternoon trading. This prompted many short term focused traders to seek safety in the Japanese yen. At 0450 GMT, the dollar lost around half a yen, standing at JPY95.44 compared with JPY95.93 late Tuesday in New York.

The Euro rose to an intra day high of USD1.4186 against the dollar in late European afternoon, however, the currency pair then dipped briefly to USD1.4110 on the back of the declines in U.S. and European stock markets. German CPI decreased by 0.5% y/y in July, its first annual drop since the index was introduced. The British pound traded near this week’s low at USD1.6431 against the dollar on Tuesday as investors expect that BoE Governor Mervyn King will highlight the downside risks to the U.K. economy in the inflation report due out on Wednesday.

Rising risk aversion and a stronger U.S. dollar toppled the Australian dollar in Asia trading Wednesday, while bond futures enjoyed strong gains in jittery atmospherics ahead of the Federal Reserve’s monthly policy meeting later. Although the Fed isn’t expected to alter interest rates, its outlook for the economy and whether it intends to extend its USD300 billion quantitative easing program will be of crucial importance for direction in both the currency and bond markets.

Currency Market Outlook

Currency traders expect the three major currencies are likely settle into narrow ranges ahead of the end of the Federal Open Market Committee monetary policy meeting later. Against the yen, the dollar is likely to stick to a JPY95.30-JPY95.80 range, as players avoid major bets. Most traders expect the FOMC to hold interest rates at their ultra low 0.00 0.25% level. Many also believe the committee will decide not to extend an unconventional program to buy Treasuries past their scheduled expiration next month. Traders have also noted a suggestion that the BOK was selling dollars to control the won’s depreciation, which could prompt some sales of the euro dollar, for account balancing purposes. Stops noted on a break of USD1.4100. Further demand is seen at USD1.4085/80 ahead of USD1.4065/60, with stronger interest noted between USD1.4010/00. Resistance is noted at USD1.4150, with more between USD1.4165/70 ahead of USD1.4180/85. Currency markets expected to remain subdued ahead of tonight’s FOMC announcement.

For the UK pound, a break and clear below USD1.6430 could open a deeper corrective pullback toward USD1.6405/00 ahead of USD1.6370/60. Resistance is seen at USD1.6505/15, USD1.6530/40 with stops placed on a break of USD1.6550. Attention is now on fundamental news, with the UK unemployment data due at 0830GMT, followed by the BOE Quarterly Inflation Report at 0930GMT. Sterling remains soft on expectations of a further downgrading in growth forecasts.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.

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Categories : Forex Cross Pairs, Forex News
Tags : aussie dollar, currency broker, currency chart, currency charts, currency futures, currency market, currency markets, currency options, currency trade, currency trader, currency traders, daily forex, dollar forex, euro currency, euro trading, foreign currency trading, foreign exchange trading, forex account, forex broker, forex brokers, forex charts, forex course, forex currencies, forex currency, forex education, forex euro, forex exchange, forex forecasts, forex futures, forex hedging, forex margin, forex market, forex mini, forex news, forex pip, forex pips, forex rates, forex real time, forex signal, forex signals, forex spot, forex strategies, forex strategy, forex tips, forex trader, forex trading, forex trading strategies, forex training, fx charts, fx currency, fx forex, fx trading, global currency, global forex, learn currency trading, learn forex, managed forex, online currency trading, real time currency, spot euro, trade forex, trading currencies, trading platform, us currency, usd currency, usd forex, usd trading

Online Currency Trading – Morning Report 11th August 2009

By admin · Comments (0)
Tuesday, August 11th, 2009

Currency Markets – Overnight Trading Asia

The dollar and euro fell against the yen in Asia Tuesday as weak Chinese stock prices stifled players’ risk appetite and prompted them to buy the safe haven Japanese currency once again. Both currencies may retrace further if European and U.S. stock prices fall later in the global day, but their fall is likely to be limited ahead of the two day Federal Open Market Committee meeting. The US dollar fell to JPY96.65 from JPY97.11 in New York Monday, and is expected to decline further if European and the U.S. shares also show poor performance later in the day with the euro also declining to JPY136.61 from JPY137.32. The Euro pivoted around the USD1.4200 price level for most of the day until the bears won out and forced the pair back to USD1.4100 . Euro yen selling capped the rebound as US stocks started to slip and sentiment shifted to profit taking. Many analysts are pulling there long euro dollar predictions given the price action over the last two days.

The British pound fell against the dollar on Monday as stock markets snapped two day gains and also due to the fallout from the Bank of England’s decision last week to expand asset purchases, which sparked concerns that the worst of the U.K economy has not yet passed. A firmer U.S. dollar and weaker than expected Chinese data sent the Australian dollar to two week lows in Asia Tuesday, with further losses expected offshore, while shorter dated bond futures nudged higher. Weighing on the local currency in particular is a fundamental shift in outlook for the U.S. economy as traders bet on an imminent end to the recession there, which in turn is driving a renewed bid tone behind the U.S. dollar.

Currency Market Outlook

A revival of caution ahead of the Fed’s meeting is tipping the dollar, euro and pound lower against the yen, but the dollar is still viewed as a better bet thereafter. Downside moves against the yen are likely be limited for now as currency traders are unwilling to make aggressive bets ahead of the release of the statement from the FOMC Wednesday. Analysts are suggesting that this week’s meeting of the Federal Open Market Committee will be crucial for near term bond and currency market direction, as any hawkish tones from the Fed would boost the US dollar and weigh on the Australian dollar.

The euro vs dollar is reversing lower once again amid talk of stops under USD1.4100, though slippage was contained at USD1.4124, with subsequent trades then contained under USD1.4150 into the Asian afternoon. A break of USD1.4100 may expose light bids at USD1.4065/60, said to be stronger at USD1.4010/00. Offers are seen back at USD1.4150/60 in small, more significant into USD1.4200/10.

The dollar vs yen has moved lower, last at JPY96.67 vs JPY97.11 in New York Monday, mostly due to players’ position adjustment ahead of the 2-day FOMC meeting starting today. The  long term trend remains upward as players are somewhat less dovish on U.S. economy as recent jobs data turned out to be stronger than expected, say dealers. For now, the important psychological  technical mark at JPY98.50 remains important, as moving averages on the daily charts suggest this is the tipping point. In addition many options players have also placed sell orders there as well as exporters’ willingness to sell US dollar holdings there to settle accounts. If this level is breached, the dollar vs yen may rise toward the 100 price handle once again.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.

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Categories : Forex Cross Pairs, Forex News
Tags : aussie dollar, currency broker, currency chart, currency charts, currency futures, currency market, currency markets, currency options, currency trade, currency trader, currency traders, daily forex, dollar forex, euro currency, euro trading, foreign currency trading, foreign exchange trading, forex account, forex broker, forex brokers, forex charts, forex course, forex currencies, forex currency, forex education, forex euro, forex exchange, forex forecasts, forex futures, forex hedging, forex margin, forex market, forex mini, forex news, forex pip, forex pips, forex rates, forex real time, forex signal, forex signals, forex spot, forex strategies, forex strategy, forex tips, forex trader, forex trading, forex trading strategies, forex training, fx charts, fx currency, fx forex, fx trading, global currency, global forex, learn currency trading, learn forex, managed forex, online currency trading, real time currency, spot euro, trade forex, trading currencies, trading platform, us currency, usd currency, usd forex, usd trading

Currency Market – Trading Currency News 10th August 2009

By admin · Comments (0)
Monday, August 10th, 2009

Currency Markets – Friday and Overnight Asia

The dollar and euro gave up some ground to the yen in Asia Monday, as investors took profits following a sharp rise in those currencies against the Japanese unit Friday, while Japanese exporters joined in the selling on a regular settlement day. However the Japanese yen, considered one of the safest currencies to buy in times of economic turmoil, may now start to decline on growing expectations of a global economic recovery. The U.S. dollar stood at JPY97.11, compared to JPY97.48 in New York late Friday, when it surged almost 2.5 yen to briefly mark a two month high of JPY97.79 on better than expected Non Farm Payroll data. The euro also declined to JPY138.03, well below the high of Friday in New York at JPY138.72, and lower than its JPY138.20 level late in that session. The euro was one of the weakest major currencies on Friday, but it has little to do with European data. Instead, the release of US non-farm payrolls triggered a surge in the US dollar, which led the euro vs dollar to break out of a tight range and fall roughly 200 pips in the trading session.

The British pound fell on the back of the stronger U.S. jobs report. The sterling move lower started earlier in the week after the Bank of England left rates at a record low 0.5 percent and unexpectedly increased its asset purchase plan, indicating that financial conditions remain weak. The Australian dollar traded sideways in Asia Monday as the U.S. dollar broadly held its ground, while shorter dated bond futures fell to fresh lows on increasing expectations for monetary policy tightening in coming months.

Currency Market Outlook Monday

The euro, pound and yen are all higher against the dollar Monday due to demand from Japanese exporters, yet those moves seem tentative and could reverse later. Meanwhile, the pound is seeing some buying against the euro. European stock markets are expected to open lower Monday, as investors bank gains as the second quarter earnings season draws to a close and after the release of the key employment data in the U.S. Friday. The pound vs dollar posted lows at USD1.6653 before recovering back, edging to USD1.6692 before meeting further resistance. The exchange rate  currently trades around USD1.6665. Bids remain in place on the approach to USD1.6650, a break below USD1.6640/35 could open a deeper move toward USD1.6610/00. Resistance is seen placed at USD1.6700/05 ahead of USD1.6720. A break here may open a move on toward USD1.6750.

Euro vs dollar bids are seen placed toward USD1.4180 (USD1.4182 76.4% USD1.4172/1.4216), a break below here could open a retest on the overnight low. Through here and stronger demand interest is reported in place ahead of USD1.4150 (USD1.4154 NY low Friday). Stops noted on a break of this level, which if triggered may open a deeper move toward USD1.4130/20 ahead of USD1.4100. Resistance is now seen placed toward USD1.4220, a break above will allow for any recovery to extend toward USD1.4230/40 ahead of USD1.4270/80.

The yen may face downward pressure in the near term due to mounting expectations for a global economic pickup, according to many currency analysts. The dollar may climb to JPY98.00, while the euro may rise to JPY140.00. Looking forward, currency traders  attention will be focused on a planned two day Federal Open Market Committee meeting starting Tuesday. In addition, they will be watching U.S. data including retail and goods sales on Thursday, and the consumer price index and industrial production, all for July.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.

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Categories : Forex Cross Pairs, Forex News
Tags : aussie dollar, currency broker, currency chart, currency charts, currency futures, currency market, currency markets, currency options, currency trade, currency trader, currency traders, daily forex, dollar forex, euro currency, euro to yen, euro trading, euro vs yen, euro yen, foreign currency trading, foreign exchange trading, forex account, forex broker, forex brokers, forex charts, forex course, forex currencies, forex currency, forex education, forex euro, forex exchange, forex forecasts, forex futures, forex hedging, forex margin, forex market, forex mini, forex news, forex pip, forex pips, forex rates, forex real time, forex signal, forex signals, forex spot, forex strategies, forex strategy, forex tips, forex trader, forex trading, forex trading strategies, forex training, fx charts, fx currency, fx forex, fx trading, global currency, global forex, learn currency trading, learn forex, managed forex, online currency trading, pound to yen, pound vs yen, pound yen, real time currency, spot euro, trade forex, trading currencies, trading platform, us currency, usd currency, usd forex, usd trading

Currency Market News – Morning Report 7th August 2009

By admin · Comments (0)
Friday, August 7th, 2009

Currency Markets Yesterday & Asia Overnight

A weak tone in the Japanese share market fueled risk aversion and caused the dollar to fall slightly against the yen in Asia Friday, though trading was subdued ahead of the anxiously awaited U.S. jobs data later in the day. Speculation that the employment figures might be worse than expected, because other recent U.S. data have been disappointing, also weighed on the dollar against the euro. The Euro declined to as low as USD1.4328 against the US currency in New York afternoon trading, despite hawkish comments from ECB President Jean-Claude Trichet. The European Central Bank kept interest rates unchanged at a record low of 1.0% as widely expected.

The British pound fell after the Bank of England left rates at a record low 0.5 percent and unexpectedly increased its asset purchase plan, indicating that financial conditions remain weak. Recent sterling strength has been boosted by positive domestic data such as manufacturing, consumer confidence, retail sales, and house prices.

The Australian dollar was weaker in late Asian trade Friday as expectations for local interest rate hikes moderated on the back of updated economic forecasts from the Reserve Bank of Australia. While the central bank’s August quarterly statement on monetary policy clearly places the prospect of interest rate hikes on the horizon, market pricing for imminent tightening has been extremely aggressive, with analysts saying a pull back in this pricing has been due for some time.

Currency Markets Outlook Today

While the majors are trading in narrow ranges Friday, traders appear ready to test the euro vs dollar and pounds to dollars  lower to create entry points for their next rallies and weak U.S. jobs figures could also push the euro toward 1.44 level. However against the yen, the euro may fall if the American employment data is unexpectedly bad, as a poor result could aggravate risk concern and turn players away from the risky euro toward the safe haven Japanese currency. That might also give the market an excuse to take profits on the European currency, which has risen sharply recently.

European stock markets are expected to open lower Friday, with investors ending the week in a cautious manner ahead of the key monthly employment release in the U.S., an important gauge of the strength of the world’s largest economy. The euro pound trading in Asia was contained within a range of stg0.8552/68, with early Europe able to extend the base to stg0.8547 only to snap back toward overnight highs. Offers noted toward stg0.8570, with further interest seen extending, and strengthening, toward stg0.8580/85. Support noted at stg0.8545/40, a break to allow for a deeper move toward stg0.8525/20.

Recovery in Asian equities eased the downside pressure with the pound dollar able to recover back to USD1.6794, currently holding around USD1.6765 in early European dealing. Offers seen placed between USD1.6795/00 (USD1.6797 76.4% USD1.6813/1.6744), a break to allow for a retest on USD1.6813, with offers seen to USD1.6820/30 (USD1.6825 initial react lows Thursday). Above here and rate can edge on to USD1.6850. Bids now seen placed at USD1.6745/35, with stops on break of USD1.6730. Stronger support noted toward USD1.6700, with demand seen placed to USD1.6690.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.

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Categories : Forex Cross Pairs, Forex News, Inter Market Analysis
Tags : aussie dollar, currency broker, currency chart, currency charts, currency futures, currency market, currency markets, currency options, currency trade, currency trader, currency traders, daily forex, dollar forex, euro currency, euro trading, foreign currency trading, foreign exchange trading, forex account, forex broker, forex brokers, forex charts, forex course, forex currencies, forex currency, forex education, forex euro, forex exchange, forex forecasts, forex futures, forex hedging, forex margin, forex market, forex mini, forex news, forex pip, forex pips, forex rates, forex real time, forex signal, forex signals, forex spot, forex strategies, forex strategy, forex tips, forex trader, forex trading, forex trading strategies, forex training, fx charts, fx currency, fx forex, fx trading, global currency, global forex, learn currency trading, learn forex, managed forex, online currency trading, real time currency, spot euro, trade forex, trading currencies, trading platform, us currency, usd currency, usd forex, usd trading
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