Forex Trading

Risk Trades Back On

Forex currency price chart of GBP and USD

Optimism Returns, Risk Trades Back On

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) was sold across the board as demand for the safe haven eased and the market bought stocks and commodities aggressively. Company Earnings were strong but economic data was a little weak with Weekly Jobless Claims at 464k vs. 449k previously.In US stocks, DJIA +201 points closing at 10322, S&P +24 points closing at 1093 and NASDAQ +58 points closing at 2245.

European Euro

The Euro (EUR) rallied aggressively after some strong economic data and improvement in sentiment helped lift the pair back to the 1.2900 level. The market is eagerly awaiting the European stress tests released at 1400 GMT. July EU Manufacturing PMI jumped 56.5 vs. 55.2.EUR/USD traded with a low of 1.2736 and a high of 1.2934 before closing at 1.2890. Looking ahead, German July IFO forecast at 101.5 vs. 101.8 previously.

Stocks Fell Back

Forex currency price chart of AUD and USD

US Bank Chief Dampens Mood

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) risk was taken off the table as the market reacted to Fed Chief Bernanke's comments the US recovery was 'unusually uncertain'. Stocks fell back and the Yen strengthened as the safe haven of choice. In US stocks, DJIA -109 points closing at 10120, S&P -13 points closing at 1069 and NASDAQ -35 points closing at 2187. Looking ahead, Ben Bernanke Speaks before Congress.

European Euro

Gold Rallied On USD Weakness

Forex currency price chart of XAU and USD

Euro Trades Briefly Above 1.3000

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) volatility was evident in a wide range of markets yesterday with sentiment turning from very negative to extremely positive over the trading day. Weak results from IBM and Housing data missing expectations sent the Dow Jones Index down at the start of trade for a test of the key 10000 level before rebounding aggressively for the rest of the day. In US stocks, DJIA +75 points closing at 10230, S&P +12 points closing at 1083 and NASDAQ +24 points closing at 2222. Looking ahead, Ben Bernanke Speaks before Congress.

Markets Bounce

Forex currency price chart of EUR and USD

Markets Bounce after Friday's Sell off

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) bargain hunting began in Asia with stocks staging a modest rally around the globe. US Company Earnings were quite positive but after the bell IBM released results that missed expectations and US futures turn negative. In US stocks, DJIA +56 points closing at 10154, S&P +6 points closing at 1071 and NASDAQ +19 points closing at 2198. Looking ahead, June Housing Starts forecast at 0.57mn and Building Permits forecast at 0.58mn.

Gold Range Trading Continued

Forex currency price chart of USD and JPY

USD Sold on Economic Concerns

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) some surprisingly weak US manufacturing data sent US stock markets and the USD down overnight. The Empire State survey dropped to 5.1 vs. 18 forecast. Strong Company Earning offset some of the losses as did the news of BP closing the oil leak and Goldman Sachs settling with the SEC. In US stocks, DJIA -7 points closing at 10359, S&P +1 points closing at 1096 and NASDAQ -1 points closing at 2248. Looking ahead, June CPI is forecast at 0.1% vs. 0.1% previously. Also released, UoM Consumer Confidence forecast at 68.4 vs. 69.8 previously.

Stocks Rallied In Europe And The US

Forex currency price chart of AUD and USD

Equity Rally moves into 6th Day

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) positive sentiment and continuation of gains in the US session saw risk currencies and the Euro trade at fresh month highs. May's Trade balance was weak at -42bn vs. -39bn forecast but this was overlooked as company earnings from Intel beat estimates. In US stocks, DJIA +146 points closing at 10363, S&P +16 points closing at 1095 and NASDAQ +43 points closing at 2242. Looking ahead, June Retail Sales are forecast at -0.2% vs. -1.2% previously. Also Released, Weekly Crude Oil Inventories are forecast at -1.1mn vs. -5mn previously.

Eurozone Concerns Still Linger

Forex currency price chart of EUR and USD

US Q2 Company Earning in Focus

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) the market remained cautious but optimistic Monday ahead of the start of US company earning releases. Alcoa was in focus after hours in New York and strong numbers help lift US futures to fresh month highs. Risk appetite may be tempered however as Eurozone concerns still linger and important Chinese data is slated for release later in the week. In US stocks, DJIA +18 points closing at 10216, S&P +1 points closing at 1078 and NASDAQ +2 points closing at 2198. Looking ahead, May Trade Balance is forecast at -39bn vs. -40bn previously.

Euro Finds Support as Stock Selling Continues

Euro Finds Support as Stock Selling Continues

Last week’s Currency Trading Review

The Dollar was under broad based pressure last week as stocks staged a 4 day rally the biggest since May and the Euro and risk currencies surged. Oil Rallied $4 a barrel and the Dow Jones Index reclaimed the key 10000 level on Wednesday with an impressive 300 point gain. US June Services PMI slipped to 53.8 vs. 55.4 previously and confirmed that the speed of the US recovery is stalling. One positive note however was the drop in Weekly Jobless Claims to 454k vs. 475k previously. The Euro was able to move higher on easing Eurozone crisis concerns and talk of solid bank stress tests to be released on July 23. CDS spreads dropped considerable on European banks and Greece adding to the Euro Rally. The ECB held at 1.0% on Thursday and President Trichet commented that some investors were too pessimistic about the future of the EU. The EUR/USD gained +0.59% closing at 1.2640, after opening the week at 1.2565.

Oil Finishes Above $76

Forex currency price chart of XAU and USD

Oil Finishes Solid Week Above $76

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) the relief rally continued on Friday with stocks finishing at fresh month highs and investor sentiment remaining strong as Eurozone Banking concerns recede. Focus this week will turn to Q2 Company earning and the subsequent fluctuations of the stockmarket. In US stocks, DJIA +59 points closing at 10198, S&P +7 points closing at 1077 and NASDAQ +21 points closing at 2196. Looking ahead, Fed's Lacker Speaks.

Rally Continues

Forex currency price chart of EUR and USD

Rally Continues, Risk On

U.S. Dollar Trading (USD)

U.S. Dollar Trading (USD) with more positive news in the IMF upgrading World GDP to 4.6% vs. 4.2% the market extended its rally for a third day. The USD was weaker against most currencies as the safe haven was sold in preference for riskier assets. Weekly Jobless Claims dropped to 454k vs. 472k previously. In US stocks, DJIA +120 points closing at 10138, S&P +9 points closing at 1070 and NASDAQ +15 points closing at 2175. Looking ahead, May Wholesale Trade forecast at 0.5% vs. 0.7%.