The offshore session saw the USD continue to regain ground, though more modest in scale. The story was more of the same from Tuesday night, with commodities continuing their recent softness and equities up again, albeit not by much. More...
The dollar rallied to a one-month peak against the yen and a two-week high against the euro on Wednesday, supported by a further drop in oil prices and improved confidence in the U.S. financial sector.
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The EUR/USD traded on the defensive most of the session on Wednesday. Ongoing weakness of energy prices fueled the USD demand. Many feel that an easing of the cost of energy will take the pressure off global inflation and provide key central banks with le More...
Well the dollar has rallied substantially in the last three days and particularly since Tuesday when Petroleum, Plosser and Paulson all seemed to play a part in the reversal in the dollar, or so we are told. More...
All the stuff that was supposed to be a good hiding place because of the “inevitable” inflation is heading south. And everyone’s most hated “asset,” (not even considered and asset by some which is a good indication we may be approaching a senti More...
The story so far this week was fired up yesterday via dollar-positive comments from Treasury Secretary Hank Paulson (same old stuff) and monetary policy comments from Philadelphia Fed... More...
Price action on the USD/CHF daily chart, as shown, has once again reached the top resistance line within the parallel downtrend channel that the pair has been entrenched in since late April. More...
The Canadian dollar was little changed against the U.S. dollar on Wednesday as domestic inflation data that topped expectations did not alter widespread expectations for the Bank of Canada to leave its key interest rate steady.
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The dollar hit a one-month peak against the yen and a two-week high versus the euro on Wednesday, buoyed by a sharp slide in oil prices, a recovery in stocks and hawkish rhetoric from U.S. officials.
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The EUR/USD has remaineed on the defensive early Wednesday. The ongoing weakness of energy prices has been fueling the USD recovery. The theory goes that lower prices for energy will keep the pressure off global inflation and provide key central banks wit More...
The pair finally broke under the bullish channel on the 4 hour charts, a few days after we noticed that head and shoulders; EURUSD traded along the neckline until it finally found a combination of technical factors (resistance at 1.5950) and fundamental(U More...
The Canadian dollar fell 0.7 vpercent against the U.S. dollar on Tuesday on weaker-than-expected retail sales data for May and a widespread rally in the greenback against major currencies. More...
The London morning saw the USD slightly offered as Europe digested the oft Amex earnings report, then followed a record $8.9bn loss at Wachovia. ater on though, hawkish comments from Paulson and Plosser and then il’s fall to a low since 5 June (ahead of More...
The dollar rallied on Tuesday, boosted by a steep drop in oil prices and comments from a Federal Reserve official suggesting that U.S. interest rates may have to rise even before financial markets recover. More...
The EUR/USD appeared to be on the defensive early Tuesday in N.Y., but then turned sharply higher after the market bought the pair after getting no news to support that position. The fist blow came from comments by Philly Fed President Plosser who took hi More...
Much like several other crosses, EUR/CHF (the daily chart of which is shown) has just reached and temporarily stalled around significant resistance. More...
The dollar was mired near recent record lows against the euro on Tuesday, with concerns about the U.S. financial sector continuing to erode sentiment.
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In currencies the USD was mildly softer during the European session. Poor earnings and guidance from financial and tech names after yesterday's close weighed upon Dollar sentiment overnight. More...
Poor results from American Express, Texas Instruments and Apple all released after the close of US equity trading yesterday continued to weigh on the dollar in overnight currency trade. More...
USDCHF finally bounced from the resistance trendline and closed in on the 1.0150 support where it has stopped for the time being; breaking below this support will reinforce the bearish bias and perhaps start to change the minds of the hopefull bulls that More...
The EUR/USD is back on the back foot as sentiment for the unit is turning negative again. Worries now seem to center on the strength of the U.S. consumer after the American Express earnings report yesterday. No major data from the U.S. are due again today More...
The offshore session was again relatively quiet last night. The main news was oil and equity related. London morning traders were concerned about a potential bounce in oil following the lack of progress in weekend talks with Iran. More...
The dollar fell on Monday as fears of woes in the U.S. financial sector persisted even as Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz) reported better-than-expected results.
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The EUR/USD is closing in N.Y. better from late Friday levels. Activity was subdued over the session with Japan closed for a holiday, and no major data from the U.S. in the early part of this week. The USD is mostly lower vs. the other majors.
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Price action on the GBP/JPY daily chart, as shown, has once again bumped right up against a very significant resistance line in the 213.80-214.00 region. More...
The tone of the USD has improved over the latest week, despite a quick spike in the EUR/USD to a new record high of 1.6038 early on Tuesday. This spike looked to be some in the market gunning for stops, because the move was not sustained even over the day More...
The EUR/USD is trading better from late Friday levels. No major data are slated from the U.S. ion the early part of this week. No fed-speak is scheduled today either. One second-tier release – Leading economic indicators – is due today. LEI is just a More...
The very familiar “macro merry go around” of higher oil, lower equities and higher euro continued to play out as a new week of trading commenced in the currency markets. More...
The dollar steadied nearly two cents away from record lows versus the euro on Monday with sentiment hinged on the strength of U.S. banks' earnings and the reception of a rescue plan for Fannie Mae and Freddie Mac. More...
Oil Shocks FX Solutions Monday July 21, 2008 - 00:36:48 GMT
The offshore FX session was very quiet Friday night. The main news was equity related – a better than expected earnings report from Citigroup (although still a loss, with $8bn in writedowns) saw Dow futures up from a low of -100pts to +50pts pre market More...
Housing starts rose 9% and the market cheerleaders proclaimed that we have seen a bottom. But not if you look at the actual numbers. New unemployment claims were OK, but not if you look at the actual numbers. And inflation was simply ugly, no matter what More...
The dollar rose on Friday, heading for its largest weekly gain versus the euro in a month, after a smaller-than-expected quarterly loss from Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) eased worries about the U.S. financial sector. More...
The dollar was mildly firmer during the US morning following the better-than-expected results from Citigroup as dealers continue to monitor the corporate earnings releases from US financial firms. The EUR/USD continues to consolidate within a 1.58 to 1.59 More...
Price action on the USD/JPY 4-hour chart, as shown, has just hit significant resistance near the top of a short-term parallel downtrend channel More...
The dollar rose versus a basket of six major currencies on Friday, boosted after Citigroup (C.N: Quote, Profile, Research, Stock Buzz) reported a smaller-than-expected second quarter loss, calming some jitters on U.S. financial sector health. More...
The EUR/USD is trading better from late Thursday levels. We are not aware of any key data slated from the U.S. today, or even any Fed-speak. That leaves forex traders with little to go on for a summer Friday session. Given the magnitude of the decline pri More...
The Canadian dollar fell to its lowest close this week against the U.S. dollar on Thursday, as oil prices declined, giving a boost to the greenback. More...
The dollar surged against the yen on Thursday and erased earlier losses versus the euro as oil prices plunged and investors worried that high energy costs and financial market turmoil were slowing global growth. More...
FX markets traded comparatively calmly in London but the US dollar started to pick up steam in New York. The main driver was equities. A better than expected earnings report from JP Morgan before the New York market opened assisted equity futures higher f More...
The EUR/USD is trading about steady from late Wednesday levels. There was a lot of chatter early about an FT article saying that Sovereign Wealth Funds (SWF) are increasingly moving away from the USD, but dealers mostly dismissed the report as old news. T More...
The euro edged back towards record highs versus a broadly pressured dollar on Thursday, aided by comments from a European Central Bank policymaker emphasising its inflation-fighting mandate. More...
In the currencies the USD was softer against the European pairs as the dollar failed to hold gains achieved in NY trading on Wednesday. Dealers noted that the USD failed to break some notable technical levels as oil fell towards the $132 area. More...
USDJPY is moving higher after it broke inside the 102.50-105.60 range; testing the 105.60 resistance zone should provide us with a good short opportunity if the pair shows weaknes signs on the lower timeframes. More...
The EUR/USD is trading back higher from late Wednesday levels. There has been a lot of chatter about an FT article saying that Sovereign Wealth Funds (SWF) are increasingly moving away from the USD, but dealers are mostly saying that the report is old new More...
After a quiet London morning the overnight session heated up in New York trading. The first news was a stronger than expected US CPI result. This saw the USD initially trade higher before markets focused on stagflation concerns, and sold the USD a little More...
The Canadian dollar was flat against the U.S. dollar in lackluster trading on Wednesday as investors looked forward to the Bank of Canada's Monetary Policy Report Update on Thursday for more insight into its economic outlook. More...
The dollar rose on Wednesday, moving further from a record low against the euro, as a slide in oil prices and surprisingly strong earnings at Wells Fargo & Co soothed fears about the U.S. economy and financial sector. More...
The EUR/USD is trading down from late Tuesday levels. The pair had made a new high above the psychological 1.60 line (1.6038) early on Tuesday, but quickly backed off. Subsequently, the relationship has been trading off crude oil, mostly because nothing e More...
After reaching and slightly exceeding the all-time high resistance yesterday, price action on the EUR/USD daily chart, as shown, has made a tentative correction back down. More...
A quick look at the British pound versus the US dollar and you’ve got to be thinking the pound looks like a good buy. And maybe, versus the buck, it is. More...
Rather than committing unlimited taxpayer dollars via the Treasury’s credit lines or the Fed’s discount window to the GSEs, how about the Treasury hand out tickets to Mama Mia for a far more effective mood changer? More...
The dollar steadied on Wednesday at about a cent above the previous session's record low against the euro, cheered by a sharp retreat in oil prices but haunted by concerns about a fragile financial sector. More...
The USD was mixed in European trading as global equity markets retained some composure to the recent wave of jitters, aided by steady oil prices. Dealers noted that geopolitical concerns and financial sector unease could easily return to drive trading sen More...
A relatively quiet night of consolidation in currency markets tonight as both euro and sterling spent most of the early European session basing about the 1.5900 and 2.0000 levels respectively. More...
The EUR/USD is trading up modestly from late Tuesday levels. The pair made a new high above the psychological 1.60 line (1.6038) early on Tuesday, but quickly backed off. The relationship has been trying to trade off crude oil in recent sessions mostly be More...
The Canadian dollar closed ata six-week high against the U.S. dollar on Tuesday after briefly popping above parity with the greenback in overseas trade before slipping back on economic concerns More...
The dollar fell to a record low against the euro on Tuesday amid persistent fears over the health of the U.S. financial institutions, with Federal Reserve Chairman Ben Bernanke giving a grim assessment of the sector. More...
The overnight session was a very whippy one with rumours and event risks driving equities, commodities and hence currencies in either direction through the day More...
In a session marked by extreme emotion and volatility, the USD remains broadly weaker against the major pairs as slowing economic outlook and higher inflation concerns sent commodities and currencies on a bumpy ride. More...
After a relatively dramatic move up on Tuesday morning, price on the GBP/USD (the daily chart of which is shown) hit and promptly retreated from the top resistance line of a short-term uptrend channel More...
Retail sales increased by a weaker than expected 0.1% in June, after a downward revision in the May figure to 0.8% from 1.0%. Sales ex autos rose 0.8% ex autos versus an expected 1.0% increase following downward revisions. More...
Decision: July 15 at 13:00 GMT.
BOC Overnight Target Rate: 3.00%
Expected Decision: no rate change. The Bank of Canada surprised the markets on June 10 by holding rates steady. It also clearly signaled that policy now is on hold. More...
In the currencies the USD remains broadly lower in the European session as concerns continued to swirl in the US financial sector. Dealers noted that the nagging thought of which financial institutions might be too small to save hampered the USD overnight More...
The euro vaulted to a record high versus the dollar on Tuesday as concern about the health of the U.S. financial sector overshadowed a series-low reading of German investor sentiment. More...
The EUR/USD is trading higher from late Monday. The pair has made a new high above the psychological 1.60 line at 1.6038 a little while ago. We have been noting the recent negative turn in USD sentiment in recent sessions, as worries about the U.S. Financ More...
The Canadian dollar rose 0.4 percent against a resurgent U.S. dollar on Monday, mainly due to merger-related interest in Canada's energy sector.
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The dollar rose from a near record low against the euro on Monday after the United States announced an emergency plan to restore confidence in mortgage finance companies More...
The EUR/USD now trading higher from prevailing levels at the end of last week in N.Y. Dealers are still looking for decisive direction, but the USD is still looking offered. Word by the U.S. Treasury and Fed that the GSE’s are too large to fail and that More...
The dollar price action continues to center on the financial sector and the GSEs. The USD was modestly weaker during the US morning session as dealers focused on the outcome of Freddie's $3B note auction. More...
The dollar rowed back from a near-record low against the euro on Monday after the United States unveiled an emergency plan to restore investor confidence in embattled mortgage lenders Fannie Mae and Freddie Mac. More...
The USD was modestly firmer during the European session aided by the US Treasury's Paulson's weekend commitment to back GSEs. Dealers were also attributing USD strength to M&A related flows after InBev and Bud agreed to merge in a $52B transaction. More...
Despite a boost from the fall of 12% in the UK’s tradeweighted Index (TWI), manufacturing output fell by 0.5% in May and industrial production dropped 0.8%. A fall in UK energy output is understandable, however, as North Sea oil and gas extraction is dr More...
The EUR/USD is trading lower vs. levels from late last week in N.Y. Dealers are still looking for decisive direction. Word over the weekend from the U.S. Treasury and Fed that the GSE’s are too large to fail and that actions are being taken to keep them More...
The USD has traded on the edge most of the most recent week. Renewed concerns about the credit markets were a key factor again, especially the fate of the U.S. GSEs (Government Sponsored Enterprises). There were also periodic rumors about a couple of fina More...
It seems that with each passing month the estimates for losses in the international banking system keep rising. This time last summer the largest estimates (from credible sources), if memory serves me correct, were around $400 billion, give or take a few More...
The Canadian dollar ended little changed on Friday as it benefited from U.S. dollar weakness, which offset an early decline after an anemic domestic jobs report.
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The dollar fell broadly on Friday as persistent worries about the stability of two U.S. mortgage finance giants were seen constraining the Federal Reserve's ability to raise interest rates this year. More...
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