Currency
Risk Aversion Sends Dollar Lower
The US dollar has felt the squeeze as global stock markets falter and oil continues to rise.
Fears over the US banking sector is blamed for the sell-off of equities, leading to a weakening dollar against the Yen and Euro.
The dollar has also been hit as commodities continue to rise, with oil hitting record highs and [...]
Economy Expected To Withstand Pressure
The US dollar rose against the euro after better than expected UK retail sales figures led many to believe that the worlds largest economies will withstand the period of economic pressure.
The UK retail sales figures for May were the highest on record, leading to the pound gaining against all major currencies. This is interesting considering [...]
US Retail Sales Boost Dollar
Retail sales figures released today helped to boost the dollar against the euro and yen. The data release showed better than expected retail sales during the month of May.
Data showed an increase of one percent in retail sales during May, whilst analysts were expecting a rise of of 0.5 percent for the month.
The dollar appreciated [...]
Euro Interest Rate Speculation Raises Value
The euro traded near a two-week high against the dollar on speculation that the European Central Bank will raise interest rates this year.
At present the euro benchmark rate sits at 4 percent, however, inflation has risen at the fastest pace in 16 years. Futures traders expect the ECB to raise the benchmark interest-rate twice this [...]
Dollar Strength On The Agenda
Yesterday early gains for the euro were negated when the dollar made a sharp recovery following comments by the Federal Reserve chariman, that reiterratted the Treasury Secretary Henry Paulson’s comments on the third of June following comments yesterday from Federal Reserve chairman Ben Bernanke, the dollar pulled back euro gains from earlier in the day. [...]
Dollar Rebounds After Bernanke Comments
Yesterday the dollar continued a day of uncertainty with the price sitting up from the recent gains against the euro. The dollar didn’t weaken beyond the resistance level yesterday (see chart). Today we saw a strengthening for the euro sending the USD through resistance, past the 38.2% Fibonacci line.
Euro strength was halted after Federal Reserve [...]
Dollar Weakens Against Euro and Yen
The recent dollar weakness continued today hitting a three week low against the euro. The US dollar traded at $1.5657, from $1.5510, and also declined against the Japanese yen. The dollar declined from 104.33 yen to 103.91.
The decline came about after the IMF said the US housing slow-down still poses “serious risks” to financial markets.
Meanwhile [...]
US Confidence Data Sends Dollar Lower
The dollar fell against the euro and the yen after poor US consumer confidence data caused concern that the US economy may not rebound.
The USD traded at $1.5576 from a low of $1.5601 on May 16. The dollar also weakened against the yen from 104.04 to 104.03.
Despite a temporary rebound from record lows of $1.6019 [...]
Will The EURUSD Trend Favour The Dollar?
The Federal Reserve may lower interest-rates after a government report showed US consumer prices grew less than forecast for April.
Dustin Reid of ABN Amro Chicago said “The Fed may have more room to cut rates if deemed necessary. Inflation was a key driver behind the recent dollar rally.” - Bloomberg
The dollar reached $1.5462 today, after [...]
Retail Sales Boost Greenback
US government retail sales figures came out better than expected excluding autos. The figures showed an increase in April ahead of forecasts.
After positive data speculation has risen that the Federal Reserve will halt cutting the benchmark interest rate. The USD gained against the euro as well as the yen after the figures were released.
The dollar [...]
