Financial News
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 [...]
Credit-loss Speculation Sends Euro Down Against USD
After the much publicised credit-losses that have hit the large US banks and financial institutions over the past 10-months, speculation of similar credit-losses affecting European and British banks has sent the GBP and the EUR down against the USD in the currency markets.
Last week we saw the dollar strengthening against the euro by shaving-off over [...]
Tough Times For Financial Services Job Seekers
The fall-out from the credit crunch being felt across the US financial-services sector as well as in Europe; top banks and financial institutions in the US and Europe have been axing jobs and cutting back salaries in an attempt to steady-the-ship after the large-scale economic slowdown.
According to ShareCast, up to 40,000 jobs in the UK’s [...]
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 [...]
Is The Euro Ready To Retrace?
The US dollar has increased against the euro with speculation of a euro-zone slowdown. US productivity in March was better than expected, which led to a USD rally against the euro.
The pound also fell against the USD as UK consumer confidence fell to a four year low in March.
“Market sentiment is shifting to a more [...]
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 [...]
