Open a free practice account and experience the Forex market risk-free with exclusive access to VT Trader™ 2.0.
Simulated conditions may differ from real conditions, and traders should not necessarily expect the same results from live trading.
Friday, June 5th, 2009
The
nonfarm payroll report showed the US economy shedding 345K, a much
better figure than the 520K decline expected by economists. The news
strengthened the greenback against its rivals as it implied the US
recession was easing faster than expected.
more 
|
|
Thursday, June 4th, 2009
Three central banks held rates steady today, and offered little in
terms of new news about quantitative easing. The Euro rose against the
Pound and clawed back overnight losses to the greenback.
more
|
|
Wednesday, June 3rd, 2009
The
Aussie, Pound, and Loonie, among others reversed their recent rallies,
retracing large parts of this week's gains. Risk aversion from falling
stocks and expectations that the recent rally in equities may have been
overdone spooked risk appetite.
more
|
|
Tuesday, June 2nd, 2009
The
greenback slid lower today as data continued to show major economies
seeing some easing of their recession. With the safe haven status of
the greenback weakening, traders are focusing on the structural
difficulties of the Dollar and selling it.
more
|
|
Monday, June 1st, 2009
In
a day full of economic news, the themes present last week continued.
The Pound gained on its rivals while the greenback was pressured
against commodity currencies and the Euro. GM filed for bankruptcy, but
stocks still surged, pushing the Dollar up vs the Yen.
more
|
|
Friday, May 29th, 2009
The
greenback fell against its major rivals, sliding sharply against the
Euro, Pound, Yen and Loonie. Risk appetite in addition to greenback
weakness pressured the Dollar heading into the weekend.
more
|
|
Thursday, May 28th, 2009
The
Yen slid against its key rivals as a report showed Japanese investors
buying foreign assets, an indication that they believe the global
recession is receding and that carry trade may resume.
more
|
|
Wednesday, May 27th, 2009
Following some overnight gains, higher-yielding currencies slid to the
greenback in NY trading on weak stocks. The Pound had a strong session
as it gained on its rivals on hopes the worst of the financial crisis
is over.
more
|
|
Tuesday, May 26th, 2009
The
higher-yielders like the Euro, Aussie and Loonie recovered overnight
losses to the Yen and Greenback as a report on US consumer confidence
surprised forecasts with a big jump. Stocks were higher increasing risk
appetite.
more
|
|
Friday, May 22nd, 2009
The
Dollar continued to be sold off today as investors and traders worried
over US credit worthiness, a theme that sprang up mid-week and has
pressured the greenback.
more
|
|
Thursday, May 21st, 2009
The
Pound fell in European trading on news that S&P was considering
downgrading Britain's credit rating. Though it managed to claw back its
losses, the greenback faced a brunt of selling as similar concerns can
be made of the US.
more
|
|
Wednesday, May 20th, 2009
The
greenback fell to multi-month lows against its key rivals as risk
appetite continued in the markets. Expectations of a recovery have
sapped demand for the greenback as a safe haven.
more
|
|
Tuesday, May 19th, 2009
The
Pound, Euro and commodity currencies continued their rallies vs the
greenback as risk sentiment remained in favor of risk appetite. Data
today showed UK inflation cooling, Euro-zone investor confidence surge
upward, and US housing starts fall to a record low.
more
|
|
Monday, May 18th, 2009
Global equities surged higher today, which boosted the Pound, Euro and
commodity currencies like the Loonie against the greenback and Yen.
Data from the UK showed housing prices rising, while a US builder
confidence survey rose to its highest level since September.
more
|
|
Friday, May 15th, 2009
The
Euro was pressured today as 1st quarter GDP figures were worse than
expected and European equities fell. US stocks were down as well,
boosting risk aversion which helped the Yen and greenback gain on their
rivals as investors looked for safe haven.
more
|
|
Thursday, May 14th, 2009
European equities rallied late, and US stocks rose, giving
higher-yielding currencies support and a chance to counter-rally
following recent gains by the Yen and greenback on the back of risk
aversion.
more
|
|
Risk Aversion Boosts Yen and Dollar as Equities Slide in Europe and US
Wednesday, May 13th, 2009
Weak industrial production data from the Euro-zone, retail sales
figures from the US, and the outlook from the Bank of England pressured
global equities, increasing risk aversion, which boosted the Yen and
greenback.
more
|
|
Tuesday, May 12th, 2009
The
UK released data on retail sales, housing, manufacturing production,
and employment today. The data pointed to a moderation of the UK
recession and helped the Pound reach a 4-month high against the
greenback.
more
|
|
Monday, May 11th, 2009
With fundamental news light today, dips in global equities dictated
market movement. The Yen and greenback gained, reversing some of their
losses from last week.
more
|
|
Friday, May 8th, 2009
Today's jobs report from the US came in better than expected, which
helped boost risk appetite and led to gains by the Euro, Pound, Yen and
Loonie against the greenback. Higher global stocks also contributed to
higher risk sentiment.
more
|
|
Thursday, May 7th, 2009
The
ECB lowered rates to 1% as expected and announced a plan to spend 60
billion euro to buy bonds in a step to start quantitative easing. The
BOE pledged more money for their quantitative easing. With US stocks
lower, NY trading saw the greenback gaining.
more
|
|
Wednesday, May 6th, 2009
Data from Australia showed retails sales climbing and the trade balance
beating forecasts. The UK posted a better than expected services report
and the US showed private sector jobs losses at their lowest level
since October.
more
|
|
Tuesday, May 5th, 2009
The
greenback pared earlier overnight losses in late NY trading as US
stocks were down, giving risk appetite a pause. The RBA held rate
steady and the Aussie hit its highest against the greenback this year.
more
|
|
Monday, May 4th, 2009
Stocks rose in Europe and the US, as did oil prices, helping to boost
risk appetite which weakened the greenback against its key rivals. The
Loonie hit a six-month high while the Aussie, Euro and Pound climbed as
well.
more
|
|
Friday, May 1st, 2009
Better manufacturing data helped the Pound gain on its rivals,
especially the Yen which saw weaker than expected unemployment, wages
and inflation results. The Euro and Dollar traded in a small range
today as European countries celebrated Labor Day.
more
|
|
Thursday, April 30th, 2009
In
a day full of fundamental data, the Yen was weaker as stocks rallied
overnight and the BOJ lowered its growth forecasts. The Euro and Pound
continued their rallies overnight vs the greenback but gave up those
gains in later trading.
more
|
|
Wednesday, April 29th, 2009
The
greenback was down today as global equities rose, boosting risk
appetite. The markets brushed off a weaker than expected US GDP
release, and the FOMC held little surprise for market participants.
more
|
|
Tuesday, April 28th, 2009
The
overnight session continued the risk aversion seen to start the week,
as stocks in Asia and Europe were lower. However, a better than
expected US consumer confidence report helped higher-yielders win back
most of their overnight losses.
more
|
|
Monday, April 27th, 2009
An
outbreak of the so called "swine flu" over the weekend added a sense of
risk aversion to currency markets as equities were sold off. That
helped the greenback and Yen gain on their rivals. While an early rally
in US stocks helped push up the Pound, others like the Loonie fell back
down in NY afternoon trading.
more
|
|
Friday, April 24th, 2009
The
greenback was lower again in today's trading as risk appetite and a
better than expected IFO business climate release from the Euro-zone
pushed up the Euro. Other key rivals were up as well as the week
closed, with most reversing their Monday losses.
more
|
|
Thursday, April 23rd, 2009
The
Dollar was weaker today, falling for a second straight day against the
Euro as traders latched onto better than expected services and
manufacturing data. The Pound reclaimed yesterday's losses, while the
Loonie broke below a support level.
more
|
|
Wednesday, April 21st, 2009
The
Pound gave up yesterday's gains and then some after it releases its
annual budget and projections for the next year. The Euro and others
rose against the Dollar, reversing yesterday's greenback gains as well.
more
|
|
Tuesday, April 21st, 2009
The
Yen gave up a portion of its gains from yesterday as equities in the US
recovered on a rebound in financial stocks. The Bank of Canada
surprised forecasts and cut rates to a record low of 0.25%.
more
|
|
Monday, April 20th, 2009
Stocks slid sharply in Europe and the US, led by falls in bank stocks,
which increased risk aversion. That boosted the Yen and greenback at
the expense of their rivals.
more
|
|
Friday, April 17th, 2009
The
Euro fell below 1.31 vs the greenback and dipped below the 129 level vs
the Yen. ECB policy makers are divided about what steps to take and
that has been pressuring the Euro. The greenback rose against other key
rivals, while the Franc was down.
more
|
|
Thursday, April 16th, 2009
Currencies like the Aussie, Kiwi, Pound and Loonie fared weaker today
as China reported the weakest growth in nearly a decade. The Euro fell
as weak industrial production mingled with a sense of that policy
makers are in disagreement in what steps the ECB should take next.
more
|
|
|
Wednesday, April 15th, 2009
The
Pound moved above 1.50 vs the Dollar for the first time since January
and continued its ascent vs the Euro. It was helped by better than
expected RICS housing data. In the US data showed annual CPI turning
negative and production falling again by 1.5%. In better news the
Empire index and NAHB housing index both improved significantly.
more
|
|
|
Tuesday, April 14th, 2009
The
Greenback falls on worse-than-expected retail sales and wholesale
prices. New Zealand's retail sales were better than expected and the
business confidence in Australia is improving.
more
|
|
Monday, April 13th, 2009
The Greenback falls on worse-than-expected retail sales and wholesale
prices. New Zealand's retail sales were better than expected and the
business confidence in Australia is improving.
more
|
|
Friday, April 10th, 2009
With thin liquidity as a result of Good Friday currency markets were
quiet. The Euro was pressured this week against the greenback and
Pound. Next week brings retail sales, and both producer and consumer
prices from the US.
more
|
|
Thursday, April 9th, 2009
Stocks around the world rose on a better than expected earnings
forecast from Wells Fargo. That helped boost risk appetite and
pressured the Yen. Despite risk appetite in equity markets the
greenback was higher against the Euro.
more
|
|
Wednesday, April 8th, 2009
Stocks in Asia were lower, causing the Yen to gain on the back of risk
aversion. Data from Europe showed German exports and factory orders
declining, while Canada's housing starts came in better than expected.
more
|
|
Tuesday, April 7th, 2009
Risk appetite was still in the air today as the Yen and Dollar gained
overnight as stocks in Asia and Europe fell. There was a slight
pull-back to those moves despite weak US stocks. The RBA cut rates by
25 basis points, surprising markets.
more
|
|
Monday, April 6th, 2009
The
Yen and greenback gained on the back of increased risk aversion as
stocks in Europe and US fell on concerns regarding bank losses. In data
from the Euro-zone retail sales were lower than expected while producer
prices fell more than expected.
more
|
|
Friday, April 3rd, 2009
Despite data from the US showing the economy shedding 663K and the
unemployment rate climbing to 8.5%, a 25-year high, the sense of risk
appetite in the markets could not be deterred. The Euro, Pound and
Loonie extended gains from yesterday, while the Yen fell.
more
|
|
Thursday, April 2nd, 2009
The
ECB decided to cut rates by a quarter point, a smaller move than was
expected. With global stocks rallying and risk appetite up, the Euro
had a strong day against its rivals. Other higher yielders like the
Pound and Loonie also saw significant gains vs the Yen and Dollar.
more
|
|
Wednesday, April 1st, 2009
The
Pound gained against its rivals as manufacturing data showed
contraction in the sector eased considerably. Data from Japan and the
Euro-zone was not as rosy, though in the US weak job data was
overshadowed by better housing and manufacturing releases.
more
|
|
Tuesday, March 31st, 2009
The
Yen was pressured today as equities rose in Europe and in the US,
helping boost risk appetite. Forex markets saw a correction to some of
the moves seen the past two sessions. Data from Japan showed a
deepening recession while US home prices hit a record low pace and
consumer confidence was close to record lows.
more
|
|
Monday, March 30th, 2009
The
Yen and Dollar opened the week strongly as risk aversion continued from
Friday's session as a result of US government's rejection of the
recovery plans presented by GM and Chrysler. The news sent forex
traders looking for safe haven in the Yen and Dollar.
more
|
|
Friday, March 27th, 2009
The
Euro and Pound fell sharply against the greenback and Yen as
fundamental data such as UK GDP and Euro-zone new industrial orders
show a weakening European economy. The Yen rose strongly due to
repatriation of funds at the end of the Japanese fiscal year.
more
|
|
Thursday, March 26th, 2009
Global stocks rose today, increasing risk appetite which pushed
higher-yielding currencies higher against hte Yen. In fundametnal news,
UK retail sales were much weaker than expected, while US GDP was
revised down by a smaller amount than forecast.
more
|
|
Wednesday, March 25th, 2009
The
greenback felt the pressure from comments by Treasury Sec. Tim Geithner
who seemed to give merit to a report from the Chinese to move away from
the greenback as the globe's reserve currency. In the US, durable goods
orders and new home sales both surprised.
more
|
|
Tuesday, March 24th, 2009
UK
consumer prices rose 3.2% in annual terms, much higher than the 2.6%
forecast by economists. The Pound strengthened on the news against its
key rivals - the Euro, Dollar and Yen. The greenback was stronger
against the Euro, Loonie and Yen.
more
|
|
Monday, March 23rd, 2009
The
announcement of further details about the Treasury Department's plan to
buy toxic assets from banks was cheered in global equity markets. That
led to an increase in the greenback in early trading which turned to
more general risk appetite on a surge in US stocks.
more
|
|
Friday, March 20th, 2009
The
Dollar finished higher against its main rivals as traders pared part of
the moves seen the last two sessions which has seen the greenback sold
off. In Europe, industrial production fell by a record annual rate in
January while Canadian retail sales came in better than expected.
more
|
|
Thursday, March 19th, 2009
The
Dollar continued being sold off today following yesterday sharp slide.
The Euro, Pound, Loonie and Yen all hit multi-week highs vs the
greenback. The Fed's decision to print and buy about 1 trillion worth
of assets and Treasuries has undermined any recent Dollar strength.
more
|
|
|
Wednesday, March 18th, 2009
Today's Fed announcement set off sharp Dollar selling as the Fed said
it would expand its purchases of asset-backed securities and buy $300
billion of US Treasuries over the next six months.
more
|
|
Tuesday, March 17th, 2009
Lower equities in Europe weakened the Euro and Pound against the
Dollar, though the ZEW economic sentiment index improved. US stocks
rallied, bring back risk appetite and reversing some of the moves seen
overnight. US housing starts surged by 22% in Feb.
more
|
|
Monday, March 16th, 2009
Equities in Asia and Europe rallied today, continuing the trend of risk
appetite that has boosted the Euro and Pound while weakening the Euro
and Dollar. However after hitting some technical levels and a reversal
in US stocks, the greenback pared some of its earlier losses.
more
|
|
Friday, March 13th, 2009
Equity markets in Asia and Europe were generally higher helping to
maintain a sense of risk appetite in the markets. That helped boost
higher-yielders at the expense of the Yen and greenback. The Dollar
however was supported by a better than expected trade balance report
that showed the smallest trade gap in 6 years.
more
|
|
Thursday, March 12th, 2009
The
Swiss Franc fell heavily after the Swiss National Bank cut rates by 25
basis points and said that they would intervene in currency markets to
make sure the Franc does not appreciate further against the Euro. That
sent the Franc plunging against its key rivals. With US stocks up, the
NY session saw risk appetite in other currency pairs.
more
|
|
Wednesday, March 11th, 2009
The
Dollar fell for a second day against the Euro as the pair establishes
an upward sloping channel. The Pound continued to be sold down against
its key rivals, the greenback, the Euro and the Yen. With investor
sentiment picking up the greenback fell vs the Yen.
more
|
|
Tuesday, March 10th, 2009
Stocks in Europe and the US rose today, boosting a sense of risk
appetite that gave the Euro strength while pushing down the greenback
and Yen. However, in late NY trading the greenback recovered a good
portion of its losses.
more
|
|
Monday, March 9th, 2009
The
Pound was pressured heavily, falling 400 pips vs the Dollar, 360 pips
vs the Franc and 200 pips vs the Euro. Traders sold the Pound as a
result of a plan in which the government took control of 77% of Lloyds
Bank. The greenback gained on weaker global stocks.
more
|
|
Friday, March 6th, 2009
The
greenback fell overnight and extended some losses following a mixed
reaction to the nonfarm payroll jobs report. Us stocks that jumped
higher initially, fell into the red increasing risk aversion and giving
the chance for the Dollar to pare some of its losses.
more
|
|
Thursday, March 5th, 2009
Both the BOE and ECB cut rates by 50 basis points to 0.5% and 1.5%,
respectively. With equities falling around the world, following a rally
yesterday the theme of the day was risk aversion and gains by the Yen
and Dollar.
more
|
|
Wednesday, March 4th, 2009
New
fiscal stimulus measures announced by China led to a surge in stocks
around the globe. That helped boost risk appetite, which weakened the
Yen and Dollar. The Aussie managed to recover early losses following
GDP data that showed the economy contracted for the first time in eight
years in the 4th quarter.
more
|
|
Tuesday, March 3rd, 2009
The
Reserve Bank of Australia held rates steady at 3.25% today, surprising
forecasts that called for at least a 25 basis point cut. That led to a
rally by the Aussie. The Bank of Canada cut rates by 50 basis points,
which pressured the Loonie.
more
|
|
Monday, March 2nd, 2009
Risk aversion was in play today as two major financial institution on
both sides of the Atlantic, HSBC and AIG, rattled global equities. The
Pound fell through key support vs the Dollar and lost ground against
its other key rivals while the greenback gained from safe haven flows.
more
|
|
Friday, February 27th, 2009
European equities were down overnight fueling risk aversion that
boosted the Yen and Dollar. US 4th quarter GDP was revised lower in its
second release to show 6.2% decrease. US equities, though down in the
morning recovered, leading to some risk appetite.
more
|
|
Thursday, February 26th, 2009
The
Dollar was generally lower today vs its main counterparts though it did
gain against the Yen as the Japanese currency continues to be pressured
due to its weak economy. Data from the US was bleak, with jobless
claims, durable goods and new home sales disappointing.
more
|
|
Wednesday, February 25th, 2009
The
Dollar climbed against the Euro, Pound, and Loonie as risk aversion was
sparked by a very weak new home sales release from the US, along with
falling overnight stocks. The Pound was pressured by its weak economy,
and plunged vs the greenback.
more
|
|
Tuesday, February 24th, 2009
Today's action saw the Yen sink lower vs its main rivals as the
situation with the Japanese economy is overpowering its safe haven
status during this time of risk aversion. The Euro rallied today vs the
Pound and Dollar following weakness yesterday.
more
|
|
Monday, February 23rd, 2009
The
overnight session saw risk appetite as the Euro, Pound and Dollar rose
against the Yen on news the US might inject money into Citibank. The
Pound rose as RBS said it would shore up its finances and traders
speculated on a new bank plan. US equities sold off today, stalling
risk appetite.
more
|
|
Friday, February 20th, 2009
Global stocks sold off today as worries over the financial systems in
Europe and the US pressured risk sentiment. The Yen gained vs the
Dollar, and the greenback saw significant weakness against its other
rivals as well. The Pound lost 400 pips to the Swiss Franc.
more
|
|
Thursday, February 19th, 2009
The
Yen declined against its major rivals with the Dollar jumping to its
highest level since January 2nd. The Euro rose against the Dollar as
concerns over Eastern European banks eased. The US saw its continuing
jobless claims rise to a record, and PPI was up 0.8% in Jan.
more
|
|
Wednesday, February 18th, 2009
The
Dollar gained against the Yen, probing the 94 level as a new plan to
try and stem foreclosures was announced by the Obama administration.
The Euro continued falling against its rivals, and the Yen was
pressured by the uptick in risk appetite in later trading.
more
|
|
Tuesday, February 17th, 2009
The
Euro fell against its major rivals as the rating agency Moody's issues
a report saying it may lower the ratings of several banks with units in
eastarn Europe. That sent stocks south in Europe increasing risk
aversion which boosted the Yen and Dollar.
more
|
|
Monday, February 16th, 2009
The
Japanese economy, led lower by a 13.9% drop in exports, contracted 3.3%
in the 4th quarter, and was down 12.7% on an annualized basis. Traders
focused on risk aversion though volatility was down because US markets
closed for President's Day.
more
|
|
Friday, February 13th, 2009
The
Euro-zone showed that the economy contracted 1.5% in the 4th quarter,
with German GDP down 2.1%. The news pressured the Euro against the
Pound and Dollar. The Yen was weaker today, relinquishing its gains
from earlier in the week.
more
|
|
Thursday, February 12th, 2009
US
retail sales increased, snapping a streak of six consecutive negative
months but total people on unemployment rose to a record high. Markets
experienced further risk aversion overnight, but part of the gains by
the Yen and Dollar were pared in the NY session.
more
|
|
Wednesday, February 11th, 2009
The
Euro consolidated against the Dollar following yesterday's steep sell
off. The Pound continued falling following the Bank of England's
inflation report. Trade data showed the US deficit shrinking to its
smallest in six years, while the Canadian trade balance fell into
deficit for the first time in more than 30 years.
more
|
|
Tuesday, February 10th, 2009
Following a speech by Treasury Sec. Geithner US stocks fell sharply,
which brought about risk aversion in currency markets boosting the Yen
and Dollar while higher-yielders were pressured.
more
|
|
Monday, February 9th, 2009
With little in the way of fundamental news currencies continued their
action from Friday with the Euro gaining on the Dollar and paring
earlier losses to the Yen. Risk appetite surfaced in the European
session as stocks there were up but those gains were capped in NY
trading.
more
|
|
Friday, February 6th, 2009
The
US economy shed 598K jobs in January and unemployment rose to 7.6%.
Despite the weak release, US equities rallied on prospects of a quick
passage of the US stimulus package. That boosted risk appetite, helping
the Euro and commodity currencies.
more
|
|
Thursday, February 5th, 2009
The
Pound rose today vs the Dollar and Euro after its central bank cut
rates by 50 basis points to a record low 1%. The ECB meanwhile stood
pat at its current rate of 2%. Traders sold the Euro as they believe
higher rates will keep the Euro-zone economy in recession longer. In
the US jobless claims hit a 26-year high.
more
|
|
Wednesday, February 4th, 2009
The
Pound rose today as its Services PMI came in better than expected and
stocks in London rallied boosting risk appetite for Sterling. The Euro
was hard hit by weaker retail sales and plummeting currencies on its
borders including Eastern Europe and Russia.
more
|
|
Tuesday, February 2nd, 2009
The
Reserve Bank of Australia cut rates to a 45-year low, and the
government announced a new fiscal stimulus plan. The Bank of Japan said
it would continue buying shares of financial firms, while the Fed
extended its foreign currency-swap lines by six months.
more
|
|
Monday, February 2nd, 2009
Manufacturing data from the US and UK rose compared to the record low
levels seen in December, though they remained in sharp contraction.
Overnight, risk aversion boosted the Yen and Dollar, but the second
half of the session saw those gains pared down. The Pound saw
significant moves against it vs the Pound and Dollar.
more
|
|
Friday, January 30th, 2009
Data from Japan and Europe showed unemployment increasing, while the US
economy shrank 3.8% in the 4th quarter. Risk aversion continued to
boost the Yen and Dollar as traders continue to worry about how deep
and long the global recession will be.
more
|
|
Thursday, January 29th, 2009
Data from the US which included new home sales plunging to a record
low, a rise in total people on unemployment benefits to a record high
and a steep slide in durable goods orders, brought back a feeling of
the problems facing the US and the globe and increasing a sense of risk
aversion in equity markets.
more
|
|
Wednesday, January 28th, 2009
The
Fed held rates as expected and said it has bought up large quantities
of agency debt and mortgage backed securities, and was prepared to
purchase longer-term Treasuries. A climb in US equities gave the Dollar
strength vs the Yen and following the Fed the Dollar rose against the
Euro. The RBNZ meanwhile cut rates by 1.5%
more
|
|
Tuesday, January 27th, 2009
A
rise in Asian stocks continued the theme of risk appetite in the Asian
session, but that was reversed in European trading. The Yen gained on
its rivals, while the Dollar pared its earlier losses to the Euro. The
Pound rose for a second day as concerns about how much was needed to
bailout UK banks eased.
more
|
|
Monday, January 26th, 2009
An
announcement by Barclays that it would not need further capital
injection thereby diluting its shares, was greeted with strong gains in
European stocks. That brought a wave of risk appetite and the safe
haven currencies, the Yen and Dollar, fell.
more
|
|
Friday, January 23rd, 2009
The
UK economy contracts by 1.5% in the 4th quarter, which undershot
expectations, and pressured the Pound in today's trading. The Pound
fell to a 23-year low vs the Dollar and a new record low against the
Yen.
more
|
|
Thursday, January 22nd, 2009
Data from around the world showed Japanese exports falling by a record,
Euro-zone industrial new orders down by a record, and US housing starts
the worst ever. The Yen and Dollar gained overnight on risk aversion.
more
|
|
Wednesday, January 21st, 2009
The
Pound continued its descent today, hitting its lowest level against the
Greenback since 1985. It did manage to pare some of its losses in later
NY trading. US stocks reversed most of yesterday's fall which helped
the Dollar recover against the Yen.
more
|
|
Tuesday, January 20th, 2009
The
Pound fell sharply for a second day against the Dollar and Yen as its
banking sector needed a second bailout. The risk aversion spread to the
US which saw equities drop on a steep sell off of financial stocks. The
Dollar gained on the Euro, but fell to the surging Yen.
more
|
|
Monday, January 19th, 2009
News from the UK of a new round of measures by the Bank of England to
shore up its financial sector spurred a fresh bout of risk aversion.
The Pound fell heavily against the Dollar and Yen, as they were the
main beneficiaries from the slide in European equities.
more
|
|
Friday, January 16th, 2009
Global equities recovered overnight helping boost the value of the Euro
and weakening the Dollar and Yen. The Pound rose on news the gov't will
set aside money to help those facing foreclosure, while the US Treasury
said it will inject $20 billion into Bank of America.
more
|
|
Thursday, January 15th, 2009
The
European Central Bank cut interest rates by 50 basis points and
signaled that more cuts may be on the way. The Euro fell against the
Dollar and Pound. Stocks in the US rallied in the late afternoon and
carry trade sentiments picked up overnight and in the NY session.
more
|
|
Wednesday, January 14th, 2009
Following a rally in risk appetite in the Asian session, steep falls in
European shares brought back risk aversion, sending carry trade pairs
lower. Retail sales data from the US was weak adding to concerns over a
deepening global recession.
more
|
|
Tuesday, January 13th, 2009
Trade data from around the world showed global trade slowing. The UK,
Japan and Canada saw deteriorating balances, while the US deficit
shrank more thane expected. The Pound was pressured, as were carry
trade pairs, as risk aversion continued in global equities.
more
|
|
Monday, January 12th, 2009
With global stocks sinking to start the week, the Yen gained on its
main rivals, extending gains seen at the end of last week. Commodity
currencies like the Aussie and Loonie were pressured as oil fell more
than $3 a barrel.
more
|
|
Friday, January 9th, 2009
The
US released its non-farm payroll report which showed the US economy
shedding 525K jobs and the unemployment rate climbing to 7.2%. Since
this came in line with expectations the Dollar gained on the Euro, but
US stocks fell pressuring the Dollar against the Yen.
more
|
|
Thursday, January 8th, 2009
The
Yen gained as stocks around the world fell today increasing risk
aversion. Data from Australia and Germany showed exports falling
sharply to end the year, while the situation in the Euro-zone continues
to deteriorate. The Dollar continued losing ahead of its jobs report.
more
|
|
Wednesday, January 7th, 2009
European stocks fell overnight and a dismal ADP jobs report sunk US
stocks, leading to weakness in the Dollar and strength for the Yen. The
Pound surged to another big gain against the greenback, while commodity
currencies felt the pressure of falling oil prices.
more
|
|
Tuesday, January 6th, 2009
Data from Europe showed inflation cooling more than expected which
pushed the Euro lower today against the Dollar and Pound. In the US
durable goods and pending home sales plunged while the ISM Non
manufacturing index improved slightly.
more
|
|
Monday, January 5th, 2009
The
Euro fell almost 400 pips against the Dollar and the Pound as
expectations increased that the ECB will have to cut rates more than
expected as weak data keeps coming in. The Pound rebounded on the BOE's
plan to expand lending to banks, the Dollar saw strength on Obama's
fiscal plan and the Loonie gained on rising oil prices.
more
|
|
Friday, January 2nd, 2009
On
a day when manufacturing data around the world remained grim,
especially in the Euro-zone and US, traders saw a bout or risk appetite
as equities around the globe and commodities advanced. Today's trading
saw the Aussie and Loonie climb higher while the Yen fell.
more
|
|
Wednesday, December 31st, 2008
In
conditions of thin liquidity there was some volatile trading with the
main aspect being a fall in Euro pairs as traders squared their
position prior to the end of the year.
more
|
|
Tuesday, December 30th, 2008
The
Euro and Dollar traded choppy today, but for the session retraced about
50 percent of yesterday's 400 pip downmove. Housing prices in the US
were shown to decline at a record annual pace and the Conference Board
consumer confidence index fell to an all time low. US stocks were up
though the Dollar consolidated vs the Yen.
more
|
|
Monday, December 29th, 2008
Today's trading saw the Swiss Franc gain against the Euro and Dollar as
political instability in Israel fueled safe-haven flows. The Pound fell
through critical support levels, and hit a fresh record low against the
Euro. The Loonie traded in a wedge against the Greenback.
more
|
|
Wednesday, December 24th, 2008
In
light pre-holiday trading most currency pairs stuck to tight ranges and
showed limited movement. The Franc rose against the Pound, while the
Kiwi gained on the Yen. US data showed jobless claims increasing, but
durable goods orders fell less than expected.
more
|
|
Tuesday, December 23rd, 2008
In
light pre-holiday trading most currency pairs stuck to tight ranges and
showed limited movement. Despite horrid data from the housing front the
Dollar gained on the Yen as Japanese officials let it be known that
they may intervene in the markets to try and weaken the Yen.
more
|
|
Monday, December 22nd, 2008
The
week started with relatively quiet trading. The Euro rose against the
Dollar but weakened following poor data on industrial orders. The Yen
was pressured following a weak trade balance, which showed exports down
a record amount.
more
|
|
Friday, December 19th, 2008
There were some key announcement today as the Bank of Japan cut its
benchmark interest rate to 0.1% and the US government said it would tap
the TARP funds to give the auto auto industry a bailout. Markets saw
continued Dollar strength as part of a correction.
more
|
|
Thursday, December 18th, 2008
The
Dollar rose against its main rivals following a week of heavy losses.
The Pound swung 700 pips lower from its high near 1.56 against the Euro
and set a fresh record low against the Euro. The commodity bloc of
currencies retreated against the greenback and Yen as oil fell below
$37 for the first time in 4 years.
more
|
|
Wednesday, December 17th, 2008
The
Dollar was pressured heavily for a second day as the Euro roared to
another 400 point swing upward and the Yen hit a 13-year high vs the
greenback. The Pound fell in the wake of unemployment data which saw
the number of people claiming jobless benefits rise by the biggest
level since 1991, and minutes showed a dovish BOE.
more
|
|
Tuesday, December 16th, 2008
The
Fed cut rates to a range of 0% - 0.25%, and said they would take all
measures necessary to provide credit to business and consumers. The
statement helped US stocks rally but put heavy pressure on the
greenback which saw significant decreases against its rivals.
more
|
|
Monday, December 15th, 2008
The
Dollar fell 280 pips to the Euro and 400 pips to the Pound by early NY
trading. With the bulk of de-leveraging complete, and the cost of the
financial bailouts and economic stimulus packages growing, the supply
of Dollars is flooding the market, weakening the currency.
more
|
|
Friday, December 12th, 2008
Yesterday evening, the Senate voted on and rejected the auto-industry
bailout after it had passed the House. The news set off a wave of risk
aversion which boosted the Yen. By Friday's NY session investor
sentiment returned on alternative plans to fund the rescue.
more
|
|
Thursday, December 11th, 2008
The
US Dollar was pressured overnight and fell further after weak jobs and
trade data. It fell 400 pips vs the Euro and Canadian Dollar as traders
unwound long Dollar positions. The Swiss central bank cut rates by 50
basis points. The Euro hit a new record high vs the Pound.
more
|
|
|
Wednesday, December 10th, 2008
The
Yen and Dollar eased off their levels from yesterday as government
efforts to slow the global recession reduced the haven appeal of the
two currencies. Prospects of a auto sector bailout helped US stocks,
boosting risk appetite during the NY session.
more
|
|
Tuesday, December 9th, 2008
Japan's 3rd quarter GDP figure was revised down to show a -0.5% change
which undershot forecasts and gave the Asian session and overnight
trading an increased bout or risk aversion. US stocks fell which
boosted the value of the Yen and Dollar.
more
|
|
Monday, December 8th, 2008
Obama's plan
to invest in infrastructure pressures the Greenback as the market picks up risk
appetite. British
producer price index eases; input prices decline 3.3% and output prices
decline 0.7% on the month. Canadian housing starts slide 18.8% in November.
more
|
|
Friday, December 5th, 2008
US Non-farm payroll data shows worst month of job losses in 34 years while unemployment rate reaches 15-year high.
more
|
|
Thursday, December 4th, 2008
The
Bank of England cut rates by 100 basis points and the ECB followed with
a 75 basis point cut bring the central bank's rates to 2%, and 2.50%
respectively. The Euro gained on its rivals, while the US, pressured by
weak jobs data and lower stocks declined.
more
|
|
Wednesday, December 3rd, 2008
Australia, the UK, the Euro-zone and the US all showed dismal reports
on services, showing how the global recession is deepening. Currency
pairs were consolidating mostly prior to the BOE and ECB meetings
tomorrow and the Friday US non-farm payroll report.
more
|
|
Tuesday, December 2nd, 2008
The
RBA cut rates by 100 basis points to 4.25% and the Euro rallied on the
back of strong stock gains. There was a return to risk appetite as
traders focused on interest rate cuts from several central banks this
week. The Pound was unable to sustain any kind of rally.
more
|
|
Monday, December 1st, 2008
Manufacturing data from around the world for the November period showed
Australia, the Euro-zone, the UK, China, Russia and the US at record or
decade lows. The grim data pressured stocks, which led to risk aversion
in financial markets. The Pound fell while the Yen gained.
more
|
|
Friday, November 28th, 2008
Japanese data showed household spending along with retail sales
declining, industrial production scaled back, inflation falling, though
the unemployment improved. In Europe CPI fell by the most in 2 decades
which pressured the Euro against the Dollar and Yen.
more
|
|
Wednesday, November 26th, 2008
It
was a day of grim fundamentals as the US showed consumer spending down
1%, jobless claims at elevated levels, new home sales at an 17-year
low, and plunging durable goods orders. The news boosted the Dollar as
traders took refuge in it as a safe-haven.
more
|
|
Tuesday, November 25th, 2008
The
Fed unveiled a $200 billion plan to support the issuance of loans to
consumers but the plan will weigh on the Fed's balance sheet, and
pressured the US Dollar. The Pound surged 400 pips against the
greenback, the Euro tested 1.3050, and the Loonie went to 1.23.
more
|
|
Monday, November 24th, 2008
News that the US government was going to rescue Citigroup through a
cash injection and guarantees for $300 billion of troubled assets
bolstered stocks around the world. With equities up as much as 10% in
Europe risk appetite helped boost high-yielders and carry trade.
more
|
|
Friday, November 21st, 2008
Asian stocks rallied helping to increase risk aversion in the markets
overnight. That was followed by a late rally in US stocks. After steep
declines in carry trade pairs in the middle of the week, traders pared
those losses with the Yen falling to higher yielders to end the
week. more
|
|
Thursday, November 20th, 2008
Global stocks saw a sharp sell-off today which ended with US stocks
closing at multi-year lows. Risk aversion was in full bloom today as
the Yen gained on its rivals. In a surprise move the Swiss National
Bank lowered rates by 100 basis points.
more
|
|
Wednesday, November 19th, 2008
Consumer prices fell 1.0% in the US while housing start fell to a
record low, which added pressure to US stocks. An initial burst of risk
appetite which helped boost the Euro and Pound gave way to further risk
aversion and gains by the US Dollar and Yen. The Loonie was pressured
by weak performance in stocks and commodity prices. more
|
|
Tuesday, November 18th, 2008
Consumer prices fell 0.2% on the month in the UK, while US producer
prices fell a record -2.8%, which shows the effect of falling commodity
prices. Currency markets were mainly trading in consolidation patterns
though a late fall in US stocks increased risk aversion.
more
|
|
Monday, November 17th, 2008
Data from Japan showed 3rd quarter growth contracting 0.1% on the
quarter and 0.4% in annualized terms, which mingled with lukewarm
reaction to the statement by the G-20 meeting. There was still some
risk appetite in the markets as the Dollar weakened against its rivals.
more
|
|
Friday, November 14th, 2008
GDP
data from the Euro-zone showed growth down 0.2% putting the economy
into the official definition of recession. The Euro was pressured
against the Dollar and its other rivals. With US stocks down today, the
Yen gained on the greenback.
more
|
|
Thursday, November 13th, 2008
US
stocks rose today after the Dow Jones briefly fell below the 8,000
level. The rally helped boost risk appetite which pressured the Yen.
The Pound continues to fall as traders priced in further rate cuts from
the BOE. German GDP showed a second quarter of contraction.
|
|
Wednesday, November 12th, 2008
The
Pound fell sharply against its rivals as the Bank of England said the
economy will face possible a year-long recession. With inflation
expected to ease significantly BoE Governor King left the door open for
more rate cuts. US stocks fell increasing risk aversion. |
|
Tuesday, November 11th, 2008
The
Yen and Dollar rose again against their rivals as stocks around the
world fell amid weak data and a loss of risk appetite. Oil prices were
down as well helping to boost the Dollar's chances. UK data showed
retail sales down 2.2% on the year and completed home sales at the
lowest level since records began in 1978.
|
|
Monday, November 10th, 2008
Stocks in Asia and Europe rose following China's announcement that it
would spend almost half a trillion dollar as part of fiscal stimulus
package. However, the burst of risk appetite was short lived as US
stocks faltered after a higher open which brought back risk aversion.
|
|
Thursday, November 6th, 2008
The
three key central banks in Europe all slashed rates, with the Bank of
England taking an ax to rates with a 150 basis point reduction. The ECB
and SNB lowered rates by 50 basis points. Weak data from the US helped
sunk US stocks, continuing a day or risk aversion in global markets.
|
|
Wednesday, November 5th, 2008
Traders saw another round of weak data from key country's services
sectors, putting the focus again on global recession fears. The last
week had seen a return to risk appetite but that was turned back as
stocks in Europe and the US faltered.
|
|
Tuesday, November 4th, 2008
With Japanese, European and US stocks climbing today, risk appetite
helped boost higher yielding currencies like the Aussie, despite the
RBA's larger than expected rate cut. The Euro, Pound, and Loonie all
had strong gains against the Dollar, and the Yen weakened as well.
|
|
Monday, November 3rd, 2008
On
the eve of the Presidential election in the US, the Dollar gained on
the Pound and Euro, while falling against the Loonie. Manufacturing
data from Australia, UK, US, and the Euro-zone pointed to the problems
facing those economies in the current economic conditions.
|
|
Friday, October 31st, 2008
Currency markets saw high yeilders give up some of their gains from
earlier in the week as traders consolidated their positions and Asian
stocks fell. Data showed weak consumer spending from Japan and the US,
and the first rate cut by the Bank of Japan in 7 years.
|
|
Thursday, October 30th, 2008
Data around the world continued to show the strains on economies.
Housing prices continue to fall in the UK, economic sentiment hit a 15
year low in the Euro-zone and 3rd quarter GDP in the US was negative.
Still, the mood or risk appetite continued as stocks rose.
|
|
Wednesday, October 29th, 2008
Risk appetite continued as Asian and European stocks rose overnight,
which pressured the Yen. The FOMC cut rates by .50% to 1%, a four-year
low, and left the door open for further cuts. The Loonie surged against
the Dollar as oil prices rose.
|
|
Tuesday, October 28th, 2008
Stocks around the world climbed, helping to dent the recent wave of
sell-offs. Risk appetite returned to the currency markets as the
Aussie, Pound, Dollar and others rose against the Yen. On the
fundamental side, the US saw housing prices fall, consumer confidence
at a new low, and the Richmond Fed index down.
|
|
Monday, October 27th, 2008
A fresh bout of stock falls around the world brought another round of risk aversion, boosting the Yen, Swiss Franc and Dollar.
|
|
Friday, October 24th, 2008
Asian and European markets took a steep tumble pushing the Yen to
multi-year highs against its rivals on global recession fears. With US
stocks falling by lower than expected the Yen pared some of its gains.
The Pound was pressured on weak 3rd quarter GDP data.
|
|
Thursday, October 23rd, 2008
The
Reserve Bank of New Zealand cut rates by 1%. Retail sales were down in
the UK, as were industrial new orders in the Euro-zone. The Pound set a
fresh 5-year low as it continues to be pressured, though not as badly
as earlier in the week. The Yen gained on weak stocks.
|
|
Wednesday, October 22nd, 2008
Global stocks suffered another round of setbacks helpig to boost the
Yen, while expectations that the ECB and BOE will have to move
aggressively to cut interest rates sunk those the Euro and Pound
against the Dollar.
|
|
Tuesday, October 21st, 2008
The dollar fell versus the yen but rose against other key currencies in NY trading Tuesday. Risk aversion supported the yen and greenback as US stocks and crude oil futures declined on global recession concerns. The higher-yielding currencies fell as their central banks were seen lagging US recession fighting efforts.
|
|
Monday, October 20th, 2008
Producer inflation rose in Australia and Germany, signaling that
inflation pressures still remain in the world's main economies. With
Fed Chairman Bernanke calling for a second economic stimulus package,
money flowed to US assets, helping to drive up the Dollar.
|
|
Friday, October 17th, 2008
Overnight risk aversion, gave way to a boost in stocks in the US, which
helped the Dollar pare its earlier losses against the Yen. However, by
the end of the day, stocks had dropped back into the red. Against the
Euro, the Dollar consolidated for a second day.
|
|
Thursday, October 16th, 2008
The
Japanese followed the US stock market in overnight trading by plunging
more than 10% increasing risk aversion and boosting the Yen. However,
overnight and in late NY trading the trend reversed, despite some grim
industrial production data from the US.
|
|
Wednesday, October 15th, 2008
The
gains seen recently by the Euro and Pound against the Dollar were
reversed today. Stocks fell around the world, bringing back risk
aversion, and gains by the Yen. The Dow index had another 700 point
loss, as worries turn to the weak economy.
|
|
Tuesday, October 14th, 2008
Stocks in Asia and Europe rose as investors continued to respond
positively to steps taken by governments to stem the credit crisis. The
Yen retreated on an increase in risk appetite. The US session reversed
some of those sentiment as US stocks faltered in late trading.
|
|
Monday, October 13th, 2008
Stocks in Asia, Europe and the US rose today as governments around the
world announced plans to recapitalize banks, offer money to facilitate
lending. The Pound, Euro and Dollar rose against the Yen, reversing
some of the losses seen on Friday.
|
|
Friday, October 10th, 2008
After the Dow plunged in late trading yesterday, the rest of the world
followed suit. Japan's key index was off almost 10% and stocks in
Europe and the UK were down 8% and 7% respectively. That fueled further
risk aversion and gains for the Yen and Swiss Franc. The Loonie
continued to plummet as commodity prices fell further.
|
|
Thursday, October 9th, 2008
The
ECB pumped $100 billion in overnight funds into money markets, but it
failed to calm investors. Stocks in Europe ended lower and in plunged
in the US in late trading. Whatever bit of risk appetite that may have
come into the markets overnight was dashed. Fundamental data showed
economies are straining from the global slowdown.
|
|
Wednesday, October 8th, 2008
The
Fed, the ECB, the Bank of England, and the Bank of Canada all cut their
benchmark rates by half a percentage point, and the Swiss National Bank
cut its by a quarter point, in an unprecedented coordinated effort to
ease the economic effects of the financial crisis.
|
|
Tuesday, October 7th, 2008
The
RBA lowered rates by a full 1%, surprising markets. The ECB and other
central banks made moves to lend to banks. The Fed said it would set up
a fund to buy commercial paper and injected funds as well. Bernanke and
Fed Minutes painted a gloomy picture of the US.
|
|
Monday, October 6th, 2008
European governments rushed to shore up their faltering banks as the
credit crunch continued to wreak havoc on financial institutions. A
meeting of top EU leaders failed to hammer out a coordinated approach,
two more firms needed to be rescued and stocks tumbled.
|
|
Friday, October 3rd, 2008
The
US House passed the bailout package and it will go to the President to
sign into law. Stocks were up prior to the vote but eased back
afterwards. Meanwhile the September nonfarm payroll report showed the
biggest drop in jobs in five and half years.
|
|
Thursday, October 2nd, 2008
Even though the ECB held rates at 4.25%, ECB President Trichet's
comments showed a softening bias which pushed the Euro to its lowest
against the Dollar in 13 months. The Pound and Loonie were pressured as
well. US stocks were deep in the red boosting the Yen.
|
|
Wednesday, October 1st, 2008
Manufacturing PMI from the UK was the worst on record, the final
version in the Euro-zone was lower than the first thought, and the US
ISM index fell to its lowest since Oct. 2001. After a calm session
overnight, NY trading saw US stocks in the red, boosting risk aversion.
|
|
Tuesday, September 30th, 2008
The
Euro fell almost 400 pips to the Dollar as another firm had to be
bailout in the wake of the credit crunch. US stock however rose as
investors were reassured that some form of rescue deal will pass. The
Dollar rose against the Yen, and its other rivals in NY trading.
|
|
Monday, September 29th, 2008
The
Euro and Pound weakened as the credit crisis caused bailouts of several
firms and the nationalization of a major UK bank. The Yen gained as a
global sell off in stocks extended into the US session with the Dow
index falling as much as 700 points as bailout vote fails.
|
|
Friday, September 26th, 2008
The
Yen gained overnight on the Dollar and Pound as risk aversion increased
when news filtered down that Republicans disagreed with the package.
Also, the failure and siezure of WaMu increased concerns. Still, stocks
pared their initial losses and the Dollar did too.
|
|
Thursday, September 25th, 2008
Data from the US showed the highest jobless claims since 2001, durable
goods orders down 4.5% and new home sales off 11.5% in August compared
to July. Still the NY session saw the greenback improve as a US bailout
plan came closer to fruition.
|
|
Wednesday, September 24th, 2008
Data from the Euro-zone was mixed today as the German IFO Business
Climate Index continued to deteriorate though the current account
deficit narrowed. In the US, existing home sales fell more than
expected. Markets were pretty subdued with the Yen falling slightly as
investors continue to speculate about the US bailout plan.
|
|
Tuesday, September 23rd, 2008
Weak fundamental data from the Euro-zone including poor preliminary
numbers on manufacturing and services PMI pressured the Euro. US
housing prices continue to decline and the Richmond Fed was poor as
well. Several currency pairs paused in their recent rallies.
|
|
Monday, September 22nd, 2008
The
Dollar fell today against the Euro as the massive bailout will increase
the debt owed by the US. US socks responded negatively to the plan,
increasing risk aversion and the Yen, while commodities surged helping
the Aussie, Kiwi and Loonie against the Greenback.
|
|
Friday, September 19th, 2008
A
new plan to try and help rescue financial markets by taking on the
toxic assets plaguing the financial sector and a decision by regulators
to shield bank shares from short sellers spawned a rise in risk
appetite Friday, knocking down the Japanese Yen.
|
|
Thursday, September 18th, 2008
The
Fed coordinated with other central banks to inject money into the money
market system to try and help soothe investors. The Dollar pared its
overnight losses to the Euro, Yen and Loonie. Fundamental data from the
UK and Canada surprised forecasts.
|
|
Wednesday, September 17th, 2008
The
US government bailed out the world's largest insurance company AIG with
an $85B injection. The news prevented a catastrophic collapse but still
played to the fears of risk aversion. The Dollar was lower vs its main
rivals.
|
|
Tuesday, September 16th, 2008
The
Federal Reserve held rates steady at 2%, trying to inject some calm
amid the financial storm that is raging this week. The statement
cautioned about risks to both growth and inflation, and ignored calls
to lower rates as a result of the most recent bout of financial
turmoil.
|
|
Monday, September 15th, 2008
News that troubled US investment bank Lehman Brothers filed for
bankruptcy set off a wave of selling in carry trade positions. Stocks
around the world tumbled. especially in Europe and the US. The Yen and
Swiss Franc gained on their rivals, and the US benefited from its
"safe-haven" status.
|
|
Friday, September 12th, 2008
Asian stocks recovered, followed by a strong session in Europe which
propelled carry trade. The Yen gave up its gains from the middle of the
week. The Greenback retracted from its recent highs, falling 280 pips
vs the Euro, 450 pips vs the Pound and 200 pips vs the Loonie.
|
|
Thursday, September 11th, 2008
A
slide in Asian stocks set off a wave of selling in Europe and US
equities. The increased risk aversion boosted the Yen against most of
its rivals as traders cut carry trade positions. The Euro continued
falling reaching a new 1-year low vs the Dollar.
|
|
Wednesday, September 10th, 2008
The
bout of risk aversion seen yesterday was reversed, and Lehman's large
loss did not deter US equity markets from rising. The Dollar and others
rose against the Yen. The Euro fell closer to a one year low against
the Dollar as its growth forecast for 2008 was lowered.
|
|
Tuesday, September 9th, 2008
Risk aversion returned to the forex markets, as US stocks fell in the
wake of news Lehman Brothers lost a partner in helping to raise
capital. The Yen rose as a result. Data from Australia and the UK were
weak, while German trade balance and US pending home sales disappointed
forecasts as well.
|
|
Monday, September 8th, 2008
News over the weekend that the Treasury Dept. was going to take over
Fannie Mae and Freddie Mac caused carry trade pairs to gap on the side
of higher-yielders. The Yen and Swiss Franc were lower. The Dollar hit
a new 11-month high vs the Euro.
|
|
Friday, September 5th, 2008
Today's nonfarm payroll data for August showed the US economy shedding
84K jobs in August. The Dollar weakened following the release, but had
been up overnight and for most of the week. Except for the Yen, the
Dollar was looking at weekly gains against its rivals.
|
|
Thursday, September 4th, 2008
The
ECB and BOE decisions didn't hold much in the way of surprises and the
GBP/EUR fell after setting a record high overnight. The Dollar got a
big lift from its services report, though a sharp slide in US equities
weakened carry trade pairs.
|
|
Wednesday, September 3rd, 2008
GDP
data from Australia pressured the Aussie, while the Euro and Pound fell
overnight to the Dollar before recovering prior to the NY open. With US
stocks down in afternoon trading, the Yen and Swiss Franc were boosted
due to an increase in risk aversion.
|
|
Tuesday, September 2nd, 2008
The
Aussie slid sharply following the RBA's announcement to cut rates by 25
basis points to 7%. More cuts are seen on the way. The Pound has also
felt the pressure as the UK economy continued to be weak and the Bank
of England meeting is on Thursday.
|
|
Friday, August 29th, 2008
The
Dollar gained on the Euro after the Euro-zone put out cooler inflation
data. The Loonie was pressured by weak GDP data, and the Pound is
falling prior to next week's bank meeting. US stocks suffered after a
weak US spending report. Positive data boosted the Yen.
|
|
Thursday, August 28th, 2008
The
Euro rose overnight on an increase in oil prices which keeps pressure
on the ECB, but fell in NY trading after US GDP was revised up for the
2nd quarter. The Dollar strengthened in thr NY session against the Yen,
Loonie and Aussie.
|
|
Wednesday, August 27th, 2008
The
Pound plunged against its main rivals, continuing a trend started with
the BoE's last meeting. The Euro rose overnight following hawkish
comments from ECB council member Axel Weber. The Dollar, weaker
overnight, strengthened in NY trading following a good orders report.
|
|
Tuesday, August 26th, 2008
Germany released weak business and consumer confidence, along with its
final version of 2nd quarter GDP at -0.5%. The Euro slid to a new
6-month low against the Dollar, and the Pound fell further to a 2-year
low. US stocks were stable, helping the Dollar vs the Yen.
|
|
Monday, August 25th, 2008
After starting stronger against the Euro and Pound the Dollar slid as
credit market woes thrashed US stocks. The Yen and Swiss Franc were
boosted by the increase in risk aversion, while falling commodities
pressured the Aussie and Kiwi.
|
|
Friday, August 22nd, 2008
The
Euro-zone showed that its current account deficit widened while
industrial new orders hit a 6-year low in annual terms, helping the
Dollar regain its footing. GDP growth in the UK for the 2nd quarter was
revised down, causing the Pound to sink to end the week.
|
|
Thursday, August 21st, 2008
Renewed concerns about Fannie Mae and Freddie Mac, along with Lehman
Brothers, brought a wave of Dollar selling during the overnight
session, benefiting the Yen and Swiss Franc. A surge in oil prices in
NY trading dropped the Dollar further against its rivals.
|
|
Wednesday, August 20th, 2008
The
Euro fell overnight and in NY trading as concerns increase about the
euro-zone economy. The Pound faltered overnight, following its meeting
minutes. However the Dollar gave up most of its gains as markets stuck
to ranging patterns in the majors.
|
|
Tuesday, August 19th, 2008
The
EUR/USD jumped 140 pips in NY Trading as weak data on housing permits
and building permits, along with higher producer inflation data weighed
on US stocks. Financials were pressured and oil was up, all sings that
weakened the US outlook.
|
|
Monday, August 18th, 2008
Fundamental data today showed UK housing prices continuing to fall, the
Euro-zone trade deficit widening, and the pace of Swiss retail sales
falling. Still the markets didn't have much direction today as the
greenback retracted a little from its Friday's gains. The retraction
was shallow, and activity should pick up the rest of the week.
|
|
Friday, August 15th, 2008
After a period of consolidation, the Dollar hit a new 6-month high vs the Euro,
falling below 1.47 following better than expected industrial production
data. The Kiwi gained on a surprise increase in retail sales. The
Canadian Dollar saw strong manufacturing shipments which helped it gain
on the greenback.
|
|
Thursday, August 14th, 2008
The
Euro fell after it was revealed that GDP data for the 2nd quarter was
negative, while the final version of consumer inflation was revised
lower. In the US, CPI hit a 5.6% annual pace which give the Dollar a
boost in NY trading. The Yen pared some of its gains from last session.
|
|
Wednesday, August 13th, 2008
Following weak Japanese 2nd quarter GDP data and a fall in Japanese
stocks, carry trade pairs suffered a rather steep sell-off, boosting
the Yen. The Pound was particularly hard hit as its central bank
lowered growth projections and said inflation is likely to peak then
retreat.
|
|
Tuesday, August 12th, 2008
The
Aussie slid for an 11th session against the Dollar. The Pound was
weaker as the economy continues to show weak data ans stocks gave up
its mid-day gains. The Dollar treaded water against the Euro and the
Loonie managed to gain following a strong trade report.
|
|
Monday, August 11th, 2008
The
Euro hit a 5 1/2 month low to start Sunday trading, then recovered
overnight. As NY trading got underway, the pair broke back to its
earlier low, testing 1.49. The Pound continued weakening against the
Yen, as stocks were shaky in Asia, though strong in Europe.
|
|
Friday, August 8th, 2008
The
Dollar had its biggest day against the Euro in nearly 4 years as it
gained 300 pips. The Pound, Yen and Loonie all broke to critical levels
dropping to to multi-month lows. The Dollar rallied as oil prices eased
once again and interest rate outlooks now seem to favor the Fed.
|
|
Thursday, August 7th, 2008
The
BOE and ECB held rates steady, and ECB Pres. Trichet conceded that
downside risks are affecting the economy and another hike is probably
on hold. The Dollar continued its strong rally seen this week, while
the Euro fell against both the Dollar and Pound.
|
|
Wednesday, August 6th, 2008
The
Dollar continued surging on its rivals, as Japan, Australia, the UK and
the Euro-zone all posted weak data. With oil prices falling further,
the strong Dollar rally seen recently continued.
|
|
Tuesday, August 5th, 2008
The
Dollar gained vs. its rivals as the Euro-zone and UK put out weak
fundamental data, and a strong rally helped push it higher vs the Yen.
The FOMC meeting stalled the Dollar advance but did not reverse it. The
Aussie weakened following a signal from RBA on rate cuts ahead.
|
|
Monday, August 4th, 2008
Data showed investor confidence slipping in the Euro-zone, while
producer prices hit a record annual rate of 8%. UK construction
activity hits an 11 year low while US factory orders surprise on the
upside. Pound is main loser, while Dollar gains on Yen and Loonie.
|
|
Friday, August 1st, 2008
The
US economy shed 51K jobs in July, though the number was less than
anticipated. The Dollar got a quick boost following the data, but pared
those gains. Retail sales in Germany turned negative, and manufacturing
activity contracted in the UK and Australia in July.
|
|
Thursday, July 31th, 2008
Data around the world pointed to weaker growth, increasing unemployment
and higher inflation. The Dollar fell following its jobless claims but
recovered on a drop in oil prices in later NY trading. Traders now
await tomorrow's nonfarm payroll data.
|
|
Wednesday, July 30th, 2008
The
Aussie fell following a weaker than expected building approvals report
while the Kiwi slid after the RBNZ Governor said the bank has room to
bring down rates. European sentiment and business climate data was
weak, while the US saw a better than expected jobs report.
|
|
Tuesday, July 29th, 2008
The
Dollar had strong rallies against its rivals, especially in NY trading
as a rally in US stocks, a slide in oil prices and better than expected
consumer confidence data gave Dollar bulls the ammunition to break
through key resistance levels. Data from Japan and the UK was weak.
|
|
Monday, July 28th, 2008
It
was a generally quiet session to start the week, with the greenback
mainly pressured against key rivals the Euro, Pound and Yen. A weak
open to stocks, on concerns that there may be yet more serious
writedowns for US financial firms pressured the Dollar.
|
|
Friday, July 25th, 2008
Strong US data, including better than expected durable orders, new home
sales and UMich consumer sentiment helped boost the Dollar in NY
trading. It also helped increase risk appetite after investors were
tested yesterday and overnight by weak stocks.
|
|
Thursday, July 24th, 2008
The
Kiwi fell after a surprise rate cut by the New Zealand central bank. A
sharp fall in German business confidence and weaker data from Euro-zone
manufacturing and services pressured the Euro, while a sharp decline in
UK retail sales weakened the Pound.
|
|
Wednesday, July 23rd, 2008
In
the BOE minutes, there was one vote for an interest rate increase,
splitting the decision three ways. That revelation spurred Pound buying
as it gained on the Dollar and Euro. The greenback extended its gains
from yesterday climbing on the Euro, Yen, Aussie and Loonie.
|
|
Tuesday, July 22nd, 2008
Comments from Philadelphia Fed Governor Plosser were hawkish calling
for an interest rate increase "sooner rather than later" as he is
concerned about high inflation. Oil fell and Treasury Sec. Paulson said
a deal to help Fannie Mae and Freddie Mac should pass through congress
this week. The Dollar rallied in NY trading.
|
|
Monday, July 21st, 2008
Equities were lower in Europe boosting the Yen, but a reversal of
fortunes helped bring risk appetite and carry trade. In NY trading, the
Dollar gave back its overnight gains however. Surprisingly producer
costs in Australia and Switzerland cooled in the last period.
|
|
Friday, July 18th, 2008
Equities
rose in Europe helping to boost higher yielding currencies like the
Aussie against the Yen, though for the most part moves were contained
today. The UK government set a record for borrowing the last three
months, while Euro-zone trade showed a deficit. There were no releases
from the United States.
|
|
Thursday, July 17th, 2008
The
Euro, Pound and Dollar rallied against the Yen as investor sentiments
lifted with a second day of strong gains in US markets. European stocks
were up as well, and oil prices slid for a third day. Risk appetite,
and increased carry trade was the main theme.
|
|
Wednesday, July 16th, 2008
Data
from the US showed consumer inflation surging, housing weakening, but
industrial production increasing. A dip in oil prices helped spur a
rally in US equities which boosted the Dollar in NY trading. Still the
Yen gained overnight, on increased risk aversion.
|
|
Tuesday, July 15th, 2008
The
Dollar came under serious pressure overnight, hitting a new low against
the Euro, reaching parity vs the Loonie, and a three and half month low
against the Pound. UK and NZ consumer inflation came in higher than
expected, as did US producer prices.
|
|
Monday, July 14th, 2008
The
Treasury Dept and Fed will help pump billions of dollars to the 2
struggling mortgage lenders, helping to avert a financial meltdown. The
news boosted the Dollar overnight, but the implications to the extra
debt the US has to undertake hurt the Dollar in NY trading.
|
|
Friday, July 11th, 2008
The
US equities took a sharp turn down today as concerns swirl around their
capitalization and concerns of a govt rescue. Oil also jumped to a new
record high. The Dollar was pressured against its major rivals. The
Canadian economy shed 5K jobs.
|
|
Thursday, July 10th, 2008
The
Bank of England kept rates at 5%, while housing prices continued to
plunge. The news pressured the Pound, especially against the Franc, as
London stocks suffered. The greenback gave back its overnight gains as
US officials warned of "ongoing" market turmoil.
|
|
Wednesday, July 9th, 2008
Though Australia put out weaker consumer confidence data and weak home
loans, the UK showed consumer confidence sinking, and Euro-zone GDP
growth was revised down and German exports fell, it was the greenback
on the defensive due to increased tensions.
|
|
Tuesday, July 8th, 2008
Stocks in Asia, Australia and Europe were down today, increasing risk
aversion and boosting the Yen. Late in the European session oil fell
close to $6, a second day of sharp declines from its high near $145.
After, greenback strength was the dominant theme of the NY session.
|
|
Monday, July 7th, 2008
The
Dollar rose against its rivals overnight. There was anticipation that
the G8 meeting, which kicked off in Japan, will focus its attention on
the need for a stronger greenback. Oil was down as much as $6. In NY
trading, the situation reversed as US equities fell into the red.
|
|
Thursday, July 3rd, 2008
The
Euro fell almost 200 pips to the Dollar following Trichet's prepared
speech, and after US payroll data met expectations of a 60K decline.
Some had feared a worse jobs report and a more hawkish Trichet.
Instead, Dollar strength dominated the markets.
|
|
Wednesday, July 2nd, 2008
The
ADP employment showed a loss of -79K jobs in the US. The news pressured
the Dollar prior to the nonfarm payroll data tomorrow, especially as
the Euro got a boost from red hot PPI data. The Aussie rose following
its retail sales surprised forecast, growing 0.7%.
|
|
Tuesday, July 1st, 2008
Despite the better news from Germany, European stocks were sharply
lower as financials suffered and geopolitical tensions between Israel
and Iran caused oil prices to test $142 a barrel again. After getting a
boost from the ISM data, US equities were down around noon.
|
|
Monday, June 30th, 2008
The
Yen rose again as risk aversion continued to dominate markets,
especially at the start of the European trading session. European
stocks recovered in later trading, causing the Yen to give up some of
its gains while the greenback rose after hitting some key levels.
|
|
Friday, June 27th, 2008
The
slide from yesterday extended to the Asian market, and European and US markets were down again. The heightened sense of risk aversion is
boosting the Yen and Swiss Franc as carry trade positions unwind.
|
|
Thursday, June 26th, 2008
Global equities sunk today, with European indexes falling to close at a
two and half year low while the Dow Jones index in the US set a 2-year
low as GM and Citigroup stock suffered. The Yen gained as risk aversion
caused an unwind of carry trade positions.
|
|
Wednesday, June 25th, 2008
The
Dollar declined against the Euro and Yen after the FOMC held rates at
2% and gave no signal of a near-term rate hike. It is now at a
12-session low. New home sales declined in the US while orders for
durable goods were flat showing sings the economy is still weak.
|
|
Tuesday, June 24th, 2008
US
data showed housing prices were down 15% year-over-year in April, a
measure of consumer confidence slipped 8 points and manufacturing was
down causing the Dollar to weakened against the Euro. Equities slid in
Europe, which boosted the Swiss Franc.
|
|
Monday, June 23rd, 2008
The
Euro slid as a slowdown became much more evident following weaker
manufacturing and services PMIs along with deteriorating confidence in
the IFO report. The Pound fell as Nationwide revealed housing prices
fell 1.2% in June.
|
|
Friday, June 20th, 2008
The
Dollar sank today as did US equities as concerns over financial
companies came back to the front. Also oil was up pressuring US stocks.
With prospects of a Fed rate hike dimming, there was Dollar weakness in
the markets.
|
|
Thursday, June 19th, 2008
The
Pound rallied against its rivals after May retail sales was
extraordinarily high. The Swiss Franc fell following its rather dovish
interest rate statement while the Loonie gained as a result of
inflation accelerating to 1% in May and 2.2% on the year.
|
|
Wednesday, June 18th, 2008
Weaker equities in the US, with the Dow Jones dipping below 12,000 for
the first time since March, pressured the Dollar against its rivals
though trading stuck to recent range. Despite falling initially after
its BoE minutes, the Pound recovered on the Dollar.
|
|
Tuesday, June 17th, 2008
The
UK showed that inflation was heating up, but markets responded by
selling the Pound as the speculation is that higher inflation, and the
chance of higher interest rates will weakened economic growth. The
EURUSD see-sawed back and forth after weaker data from each side.
|
|
Monday, June 16th, 2008
The
Dollar lost ground to the Euro and Pound following higher consumer
inflation data out of the Euro-zone, and a hawkish inflation report
from the Bank of England. Also, Dollar bulls were disappointed by the
G8 meeting, along with a weaker NY Empire release.
|
|
Friday, June 13th, 2008
The
Dollar gained on the Euro, Yen and Canadian Dollar, though was mixed
against the Pound. Expectations are taking hold that the Fed is more
concerned about inflation and may move to raise rates in order to deal
with rising price pressures.
|
|
Thursday, June 12th, 2008
The
Dollar recovered its losses from yesterday and surged ahead on oil
receding, along with strong retail sales data. Australia saw employment
decrease for the first time in 19 months, while New Zealand deals with
higher inflation and slower manufacturing.
|
|
Wednesday, June 11th, 2008
The
Dollar lost ground to its main rivals, despite weaker fundamental data
from the UK, and mixed data from Japan. Oil staged a rebound climbing
about $5 higher which pressured the Dollar and US equities which saw a
rather steep day of selling.
|
|
Tuesday, June 10th, 2008
The
Dollar continued gaining on the Euro, in response to Bernanke's
comments late last night. The Pound fell heavily as housing remains
weak. The Bank of Canada held rates at 3%, surprising economists, as
inflation is a bigger concern than growth at this point.
|
|
Monday, June 9th, 2008
The
Dollar gained today on better than expected results from pending home
sales and an easing of oil prices after their rapid climb on Friday.
The Pound was bolstered by higher producer inflation data. The Japanese
economy is at a "turning point"
|
|
Friday, June 6th, 2008
The
US Dollar fell against the Euro, Pound, Yen and Swiss Franc, as the
unemployment rate jumped from 5.5% to 5% and oil surge more than $10 -
the largest gain in one day. US stocks suffered strong losses and the
Dollar was weaker overall.
|
|
Thursday, June 5th, 2008
The
ECB held rates steady accompanied with hawkish language in regards to
inflation. The EUR/USD surged 190 pips following the release. The Pound
climbed 100 pips against the Dollar and 270 pips vs the Yen overnight,
as the BOE is also concerned about inflation.
|
|
Wednesday, June 4th, 2008
Consumer confidence and services showed poor results in the UK while
Euro-zone retail sales fell an annual 2.9%, the biggest fall on record.
European stocks fell, and the Euro and Pound were down against the Yen.
Good GDP data from Australia helped to boost the Aussie against the
greenback.
|
|
Tuesday, June 3rd, 2008
The
markets reacted to Bernanke's speech today with Dollar strength as he
implied that the Fed will not move to lower rates any further as he
noted that a weak Dollar has fueled inflation. The Dollar gained 150
pips against the Euro in one hour following his comments.
|
|
Monday, June 2nd, 2008
Carry trade sentiments took center stage in the markets today as
concerns about credit markets hit European financials and extending
into weak performance in US stocks. The Yen and Franc gained at the
expense of the Pound, Dollar and commodity bloc of currencies.
|
|
Friday, May 30th, 2008
The
Dollar gave up some of this weeks gains to the Euro after Euro-zone
annual inflation increased to 3.6%. US saw weaker consumer spending and
a 28 year low UMich consumer confidence. Japan released data on
spending, employment, and output.
|
|
Thursday, May 29th, 2008
The
Dollar kept up its gains against the Euro as consumer confidence was
weaker from the Euro-zone and oil eased more today. Global equities
fared well driving more carry trade at the expense of the Yen and Swiss
Franc, a main theme of this week.
|
|
Wednesday, May 28th, 2008
The
Dollar climbed today again vs the Euro as current account for the
Euro-zone disappointed, durable goods orders in the US surprised on the
upside and oil receded during the European session. Carry trade was
boosted as well causing the Yen to weaken vs the Pound.
|
|
Tuesday, May 27th, 2008
The
Dollar climbed today against its rivals in a busy day of fundamental
data. Consumer confidence fell in both Germany and the US, while
housing prices in the US fell a record 14.4% in annual terms for March.
Carry trade pairs recovered as risk appetite returned to the markets as
a result of better performance in Asian stocks.
|
|
Friday, May 23rd, 2008
The
Dollar finished the week on the defensive as inflation fears boosted by
higher commodity prices, and continued weakness in home sales pushed
down US equities. The Dollar's major rivals were able to recover most
of their losses from yesterday.
|
|
Thursday, May 22nd, 2008
The
Dollar recovered some ground against the Euro and Yen, as industrial
new orders in the Euro-zone slipped, and US equity markets recovered
from two rough days. The UK reported better than expected sales data,
while Canada's was weaker.
|
|
Wednesday, May 21th, 2008
The
Dollar fell further against the Euro today, pressured by a $4 climb in
the price of oil and another triple digit loss for the Dow index. The
Swiss Franc got a boost from its ZEW report and increased risk aversion
in global markets, while the Loonie hit a 2-month high.
|
|
Tuesday, May 20th, 2008
The
Dollar saw some steep falls today vs its major rivals, reversing
yesterday's gains. German producer prices came in higher than expected
boosting the Euro. The Aussie climbed on hawkish minutes. US producer
prices were mixed, with the headline lower than expected. The Loonie
continued its 5 session rally vs the Dollar.
|
|
Monday, May 19th, 2008
The
Dollar recovered from Friday's fall following weaker consumer
confidence data. Today's leading index helped ease concerns that the
economy would continue to get weaker and helped spur a Dollar rally
against the Euro, Pound and Yen.
|
|
Friday, May 16th, 2008
The
Dollar fell in NY trading against most of its rivals as high oil prices
and weaker consumer confidence data battered stocks and the outlook for
the US. Japanese GDP growth was larger than expected, while the
Euro-zone showed exports were down in March.
|
|
Thursday, May 15th, 2008
The
Euro-zone grew 0.7% in the 1st quarter, led by Germany's 1.5% rise. The
Euro set a high before giving up its gians to the Dollar. US data
showed weaker industrial production and 2 regional manufacturing
indexes contracted. Kiwi weakens after its retail sales.
|
|
Wednesday, May 14th, 2008
Overnight the Dollar gained on the Euro and Pound as the Euro-zone
reported industrial production slowed and the number of workers seeking
unemployment rose in the UK. The Dollar gave back those gains however
when CPI data for April was lower-than-expected.
|
|
Tuesday, May 13th, 2008
The
Dollar gained On the Euro, Pound and Yen overnight, though it only
extended those gains against the Yen during NY trading after US core
retail sales came in above expectations. Also today, the Canadian
Dollar touched parity vs the greenback.
|
|
Monday, May 12th, 2008
Global stocks recovered from their steep losses on Friday, with
European stocks boosted by results from HSBC. The Euro, Pound and
Dollar recovered vs the Yen, as risk appetite returned to carry trade
positions. The Pound was boosted by record-high PPI data.
|
|
Friday, May 9th, 2008
Global stocks fell as a result of American International Group reported
a $7.8 billion loss and Citigroup plans to shed almost $500 billion in
assets. Heightened risk aversion helped the Yen and Swiss Franc
extended gains from earlier in the week against the other majors.
|
|
Thursday, May 8th, 2008
The
ECB and BOE both held rates steady. The Euro gained on the Pound and
Dollar following the release, as its remains stout in its fight against
inflation. The Yen gained on the back of weaker stocks in Asia and
Europe. The Dollar rallied against the Loonie and Kiwi.
|
|
Wednesday, May 7th, 2008
The
Dollar took advantage of weak fundamental data from the the UK and
Europe to pare its losses to the Pound and Euro from earlier in the
week. The Dollar rallied against the Yen as well overnight, though it
hit resistance, stalled and reversed in mid-NY trading.
|
|
Tuesday, May 6th, 2008
The
Dollar fell against its rivals as oil hit $122-a-barrel and Fannie
Mae reported a larger-than-expected $2.19 billion loss. Though stocks
recovered in later trader, these factors pressured the Dollar. The
Canadian Dollar surged on a better than expected Ivey PMI report.
|
|
Monday, May 5th, 2008
The
Dollar was generally weaker today, despite better than expected
services sector data. The Aussie climbed on higher inflation data,
while the Loonie climbed on higher oil prices. With US stocks faring
poorly during this session, the Yen gained on the Dollar as well.
|
|
Friday, May 2nd, 2008
Today's US non-farm payroll data showed the economy shedding 20K jobs,
lower than the anticipated 80K. The news was a welcome sign for Dollar
bulls as it implies that the Fed can pause in their interest rate
cutting campaign. The Dollar finished the week on a strong note hitting
a new high vs the Euro while paring losses vs the Pound.
|
|
Thursday, May 1st, 2008
Today's US data showed that US consumers were still spending, and
inflation continued increasing, bolstering the cast that the Fed is
ready to pause in their interest rate cutting campaign. Manufacturing
also performed better than expected. The Dollar set a five-week high
against the Euro, and surged vs the Loonie.
|
|
Wednesday, April 30th, 2008
Carry trade sentiments came back to the markets, pushing down the Yen
against the Pound and Euro. A slew of fundamental data showed weaker
performance in Japan, UK and Euro-zone. The FOMC cut rates by .25% to
2% as expected, though the announcement may not have been as hawkish as
anticipated causing the Dollar to weaken.
|
|
Tuesday, April 29th, 2008
The
Yen was a big winner today as it gained against higher-yielding
currencies as a result of risk aversion in carry trade. News from the
UK and US caused traders to pare positions prior to tomorrows FOMC
decision. The UK fell on weak data on mortgage lending.
|
|
Monday, April 28th, 2008
The
Australian and Canadian Dollars gained as commodity prices, especially
gold increased. The Pound was stronger as risk appetite was stronger
after the weekend on hopes that the worst of the global credit-market
crisis may be over.
|
|
Friday, April 25th, 2008
The
Dollar had a strong week, benefiting from weak manufacturing and
business confidence data from Europe and shifted expectations of future
moves by the Fed. It was a big change from the beginning of the week,
when the Dollar set a new record low vs. the Euro.
|
|
Thursday, April 24th, 2008
The
Dollar extended its rally vs the Euro as German IFO Business Climate
came in lower than expected. In the US, Jobless Claims and Core Durable
Goods Orders impressed on the upside. The EUR/USD pair had its biggest
fall in over 4 years. The Dollar also strengthened against the Swiss
Franc and Yen as US stock markets were up.
|
|
Wednesday, April 23rd, 2008
The
Euro fell from its all time high on manufacturing news, and comments
from Luxembourg Finance Minister Juncker. The Pound weakened on poor mortgage lending data. The Canadian Dollar slipped after retail sales unexpectedly declined in February.
|
|
Tuesday, April 22nd, 2008
The
Euro climbed to a new record high vs the Dollar when ECB Governing
Council member Noyer said the ECB may raise rates if consumer inflation
does not slow. The Dollar experienced weakness across the board,
including against the Pound and Swiss Franc . In Canada, the Bank of Canada cut rates 50 basis points to 3%.
|
|
Monday, April 21st, 2008
The
Euro climbed after hawkish comments from ECB policy maker Klaus
Liebscher. The Pound gave up its impressive gains from Friday as
investors were underwhelmed by the Bank of England's plan to ease money
markets. The Loonie gained on oil hitting $117 a barrel.
|
|
Friday, April 18th, 2008
A
better than expected report from Citigroup and earnings from other
companies helped spur a rally in US stocks and added risk appetite to
forex markets. The Pound, and other high-yielders were big
beneficiaries while the Japanese Yen and Swiss Franc lost ground.
|
|
Thursday, April 17th, 2008
The
Pound strengthened vs the Euro, Dollar and Yen as speculation spread
that the BOE would unveil a plan to ease money markets. The Euro eased
off its record high after comments from PM Juncker. The Loonie lost to
the greenback on tame Canadian CPI.
|
|
Wednesday, April 16th, 2008
The
Dollar set a new low vs the Euro, gave up ground to the Pound, and lost
sharply to the Canadian Dollar during today's trading. High inflation
from Europe, weak housing in the US, and record oil prices pressured
the greenback.
|
|
Tuesday, April 15th, 2008
The
Dollar gained on a surprisingly better "Empire" manufacturing report
and higher producer inflation while the Euro was down after a measure
of investor sentiment fell. The Pound meanwhile was pressured by lower
CPI figures and a weak housing report.
|
|
Monday, April 14th, 2008
The
Dollar gained at the Sunday open across the board as a result of the G7
press release from Friday. This "G7 bounce" didn't last as the Euro and
others pared their Sunday losses. The Pound surges overnight when
producer inflation came in higher than expected. The Kiwi was lower
after its retail sales for Feb declined 0.7%.
|
|
Friday, April 11th, 2008
A
poor earnings report from GE, one of the world's largest companies,
weakened US stocks. That translated into an increase of risk aversion
on the forex markets as the Yen and Swiss Franc gained. Meanwhile US
data showed consumer confidence hit a 27 year low in April.
|
|
Thursday, April 10th, 2008
The
Bank of England cut rates by .25% to 5%, its 3rd move since December.
The ECB held rates at 4%. Both the Dollar and Pound pared earlier
losses to the Euro after falling to record lows, respectively. The
Dollar recovered against the Yen during NY trading as US stocks
performed well. Carry trade pairs also rebounded.
|
|
Wednesday, April 9th, 2008
The
Dollar was down today as traders increased bets that the Federal
Reserve would move to cut interest rates by 50 basis points in their
meeting this month. Oil prices touched a new record high. Carry trade
pairs retreated on heightened risk aversion in NY trading, boosting the
Yen and Swiss Franc.
|
|
Tuesday, April 8th, 2008
The
Pound suffered steep losses vs its rivals after data on housing prices
showed a steep, and unexpected, decline in March. With the Bank of
England decision on Thursday, traders sold Pounds. US pending home
sales disappointed on the downside, and Fed minutes said the US may
have a "prolonged" and "severe" downturn.
|
|
Aussie Gains on Greenback; EUR/USD Pares Earlier Losses on Euro-zone Sentix Investor Confidence Data
Monday, April 7th, 2008
The
Australian Dollar shrugged of weaker fundamental data to climb against
the US Dollar and Yen. The Euro, after initially falling to the
Greenback, recovered as investor confidence data surprised on the
upside. The CAD/JPY pair formed a double top formation.
|
|
Friday, April 4th, 2008
The
Dollar fell immediately after the US posted March's payroll data which
showed the economy shedding 80K jobs, more than forecast. Funding
currencies in carry trade like the Yen and Swiss Franc performed well
against the Dollar and Pound.
|
|
Wednesday, April 2nd, 2008
The
Dollar lost ground to the Euro on poor US data, and against the Pound
as markets rallied there. Bernanke's comments included a gloomy
assessment for growth, but also a signal that there will be no more
bailouts which helped boost investor appetite for carry trade.
|
|
Tuesday, April 1st, 2008
The
Dollar surged vs the Euro and Yen on financial news out of Europe -
further write-downs by UBS and Deutsche Bank - and better than expected
ISM Manufacturing data out of the US. Increases in US stocks also
rallied carry trade pairs as risk appetite returned.
|
|
Monday, March 31st, 2008
Business confidence dropped in New Zealand, while inflation continues
to run high in Australia and the Euro-zone. Japanese industrial
production and a measure of manufacturing both declined. The Kiwi and
Aussie declined today, while the Greenback traded higher than the Pound
and Yen.
|
|
Friday, March 28th, 2008
Japan reported 10-year high inflation and flat consumer spending in
February. UK consumer confidence hit a 15-year low, and growth of
housing prices fell to its lowest level in 12 years. In the US,
consumers were also pessimistic, and showed it by spending less.
|
|
Thursday, March 27th, 2008
Thursday saw mostly ranging conditions after several currency pairs
surged against the Dollar earlier in the week. The GBP/USD hit a new
high at 2.0190 on the back of some positive UK fundamental news. The
Dollar pared its losses against the Pound and Yen.
|
|
Wednesday, March 26th, 2008
The Greenback was pressured by weak economic data and continuing credit market concerns. The Euro got a boost from strong Eurozone data, while the Yen strengthened in today's risk averse trading session.
|
|
Tuesday, March 25th, 2008
The
Dollar was pressured on Tuesday as speculation of a 50 basis point move
next month by the Fed was priced into the markets. The greenback
declined in value vs the Euro, Pound, and the commodity bloc of
currencies to start the week.
|
|
Friday, March 21st, 2008
The
Dollar rose this week against the Euro and the commodity bloc of
currencies as oil and gold prices tumbled. The Fed has taken several
steps to calm markets the last two weeks which helped boost the stock
market. However, carry trade continued to unwind.
|
|
Thursday, March 20th, 2008
The
Dollar rose against the Euro and the commodity bloc of currencies. The
Euro was pressured by weaker services and manufacturing data, while the
Loonie, Aussie and Kiwi fell as a result of declines in oil and gold
markets. As the global economy slows, demand for these countries'
commodities will diminish.
|
|
Wednesday, March 19th, 2008
The
Pound took a big dive versus the Dollar today, as markets priced in
more rate cuts as a result of Meeting Minutes released today. The Euro
faltered after a report showed its trade deficit widening. The Canadian
Dollar fell as oil prices took a tumble.
|
|
Tuesday, March 17th, 2008
The
Federal Reserve moved to cut rates aggressively, bring rates down to
2.25% from 3%. The Dollar gained in a knee jerk reaction as investors
believe this move may the Fed is concerned about inflation. The UK and
Canada released mixed consumer inflation reports.
|
|
Monday, March 17th, 2008
The
Dollar fell sharply vs the Euro, Yen and Franc after the Sunday open,
as it was announced that JP Morgan purchased Bear Stearns at $2 a share
and the Fed acted to cut the discount rate by 25 basis points. The
Dollar managed to pare some of those losses on Monday.
|
|
Friday, March 14th, 2008
US
equities fell lower today after Bear Stearns needed an injection of
funds from the Fed and JP Morgan. The stock of the firm plummeted 40%,
increasing risk aversion. As a result, the Yen strengthened and the
Swiss Franc reached parity with the US Dollar for the first time ever.
|
|
Thursday, March 13th, 2008
The
Dollar hit a 12 year low vs the Yen, falling below the 100 level.
Retail Sales fell 0.6%, undershooting forecasts and signaling that
consumers may be tightening their spending as the US slowdown
progresses. The Euro hit a new record high vs the Dollar.
|
|
Wednesday, March 12th, 2008
The
Dollar fell to the Euro, Yen and Aussie today as investors looked more
closely at the deal the Fed had proposed yesterday. The Euro hit a
fresh record high vs the Dollar above 1.55, and the Yen strengthened as
risk aversion crept back into the Forex markets.
|
|
Tuesday, March 11th, 2008
News that the Fed was ready to lend another $200 billion dollars
through weekly auctions, in exchange for debt that includes
mortgage-backed securities boosted stock markets, the Dollar and carry
trade pairs. The Dollar showed strength for the first time in several
session vs the Euro and Yen.
|
|
Monday, March 10th, 2008
Capital spending on machinery orders rose in Japan, besting
expectations. Yen strength prevailed as US equities continued sliding.
Carry trade pairs favored the funding currency - the Yen and Swiss
Franc.
|
|
Friday, March 7th, 2008
The
US nonfarm employment change saw the US economy shedding 63K jobs in
Feb, increasing the chance of a three-quarter percent rate cut at the
Fed's next meeting. A Fed plan to inject $200 billion into the banking
system over the next month helped boost the Dollar.
|
|
Thursday, March 6th, 2008
The
central banks of New Zealand, the UK and the Euro-zone all held rates
steady. Hawkish rhetoric concerning inflation drove up the the Pound
and Euro. US stock markets declined again today, causing the Dollar to
lose ground against the Yen.
|
|
Wednesday, March 5th, 2008
Japanese Capital Spending fell the hardest in 5 years, during the 4th quarter of 2007. As a major importer of commodities, Japanese companies reduced spending in the face of surging oil and raw materials costs.
|
|
Tuesday, March 4th, 2008
Australian Retail Sales came in flat for January. This data ends a streak of growing retail sales which started in June 2007. It suggests that the 1% interest rate increase spread throughout last year has worked its way to keep the economy from bubbling...
|
|
