Active Trading
No More Rate Cuts After Today
It is expected that the Federal Reserve will make a quarter percent rate cut today, however, comments suggest that it’s unlikely that there will be further interest rate cuts after this spate of emergency cutting measures.
The US dollar is set to make its highest monthly gain against the euro since April 2004 by trading as [...]
Oil Rise Leads to Gold Hedging Gains
The rising price of oil sent gold prices up in London. The demand for gold as an inflationary hedge led to rising prices on the commodities market.
Gold is joined by other precious metals seeing a rise in demand with prices rising for platinum, palladium and silver. With oil trading within one percent of $120/bbl, precious [...]
Euro Breaks $1.60 After Hawkish ECB Comments
The euro broke through the $1.60 mark against the dollar after European Central Bank governing council member, Yves Mersch gave hawkish comments suggesting the bank may revise its inflation target upwards.
The euro rose to an all-time high of $1.6018 against the dollar, before retracing to $1.5976.
Hans Redeker of BNP Paribas said, “we see the [...]
Euro Approaches Record High $1.5983
The Euro climbed to within a cent of the record high of $1.5983 set on the 17 April after speculation that the European Central Bank will raise interest rates.
The currency rose before the release of a US housing sales report which has previously shown a fall.
Jeremy Stretch, a senior market strategist at Rabobank said, “In [...]
Euro Reaches New All-Time High
The Euro advanced against the Dollar to a new record high of $1.5983, marking the worst decline in Dollar value against the Euro since its inception in 1999.
Forecasts expect a weak manufacturing report in the Philadelphia region to cause the Federal Reserve to cut the benchmark interest-rate.
Michael Klawitter, a currency strategist at Dresdner Klienwort in [...]
General Electric Earnings Lower Than Expected
General Electric [GE] released it’s first quarter earnings data today. The earnings figures came out worse than expected which had a knock-on effect on the US dollar.
General Electrics share price fell over 11 percent today after the data was released.
GE blamed falling profits at its financial services businesses for the poor earning report.
The EURUSD pairing [...]
Euro Falls Back Against Dollar
The Euro fell back against the greenback after European Central Bank President Jean-Claude Trichet suggested the financial market crisis will continue longer than anticipated.
The ECB’s President continued with a hawkish outlook for the time being by leaving the benchmark rate at 4 percent.
Trichet said “we are experiencing a rather protracted period of temporarily high annual [...]
ECB Likely To Hold While Fed May Cut Further
With the US interest rate presently at two and a quarter percent, and the ECB likely to keep interest rates set at 4 percent, we have seen a one week high against the dollar.
It is likely the Federal Reserve will cut interest rates further in the coming days, this has led to trading in favour [...]
Dollar Advances in EURUSD Pairing
The USD rose to it’s highest value against the Euro this year.
UBS and Lehman Brothers claimed they’re raising $19bn, bolstering investor confidence in the USD.
Lehman Brothers sold $4bn in stocks and UBS announced plans to seek $15bn in a rights offering, leading to the USD gaining against the Swiss Franc (CHF) and the Danish Krone.
According [...]
Trading Currency After News Spikes
Today we have a classic example of a news spike. We can see a huge decline in the Euro against the USD, from highs in the region of $1.5490 all the way down to $1.5280. That marks a fall of around 210 points in only a matter of a few hours.
However, notice the 55-day moving [...]
