| Will The FOMC Begin To Withdraw Stimulus?
September 21, 2009 at 5:11 pm
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| | The Federal Open Market Committee (FOMC) will meet on September 22nd and 23rd.The FOMC interest rate decision and policy statement will be released on September 23rd. The FOMC is widely expected to leave the Fed funds rate target unchanged at 0.00%-0.25% and to maintain the current level of bond purchases... |
| Lower Trading Volume During Asian Session
September 21, 2009 at 3:56 pm
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| | Overall, the Asian session has followed the lead from the U.S. in that it has seen lighter than usual volume. The major pairs have not made any significant moves with the exception of the cad and the yen which have both traveled over 30 pips from the opening price. The... |
| Forex Exchange Morning Report
September 21, 2009 at 3:45 pm
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| | Market mood remains less optimistic than fundamentals and indicators would otherwise suggest. US equities weakened at the open, the analyst chatter around equity over-valuations relative to other asset classes. Raw material (particularly fertiliser) and energy companies were the main underperformers. Helping the market recover (S&P500 closing +0.3%) was the Conference... |
| USD Starts To Climb On FOMC Uncertainty
September 21, 2009 at 3:34 pm
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| | U.S. Dollar Trading (USD) was well supported from the open Monday as the market took risk off the table ahead of Wednesday's FOMC meeting. The meeting could prove critical for the USD as policy makers express their thoughts on an exit strategy and signal their beliefs about the US economy.... |
| When Will Dollar Turn Bullish?
September 21, 2009 at 3:21 pm
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| | After gaining overnight on drops in international equity and commodity markets, the dollar rose on Monday ahead of the FOMC 2-day meeting but later pared gains as US stocks reduced earlier losses. The Federal Reserve is expected to maintain the target range for the federal funds rate at 0 to... |
| Greenback Gain Overnight On Risk Aversion
September 21, 2009 at 3:18 pm
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| | The Euro-Dollar pair declined to start the week, extending its slide to end last week. The pair fell to the 1.4610 area, where it found support and saw a strong move in the other direction, with most of the gains coming in late NY morning trading. If you plot Fibonacci... |
| New York Session Recap
September 21, 2009 at 11:17 am
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| | The NY session was pretty much uneventful as the lack of any major economic or other news left markets range-bound. US equities fell a modest -0.3% on the day and the recovery from early session lows dictated the pace in currencies. Gold recovered smartly from the plunge below the all-important... |
| Will The Real Dollar Bulls Please Stand Up
September 21, 2009 at 10:27 am
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| | Overall, the U.S. session had been light, with the major pairs trading on a thin volume and retracing the declines seen earlier in the day. Most pairs moved somewhere around 100 pips, but today's most actives currencies were, surprisingly, the Canadian dollar and the Japanese yen. The slow trading seen... |
| Greenback Edges Higher
September 21, 2009 at 10:20 am
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| | The dollar edged higher against the majors at the start of the week, pushing the euro to 1.4612 and the British pound to 1.6136. With the FOMC meeting this week, traders will closely scrutinize the Fed's assessment of the economy in the accompanying policy statement. While interest rates are widely... |
| Forex Fundamental Outlook
September 21, 2009 at 7:02 am
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| | Traders will focus on some key events this week. First, the Federal Open Market Committee convenes tomorrow and Wednesday and is not expected to change interest rates at this time. Instead, Fed-watchers are interested to see if the FOMC provides any guidance as to when it may terminate some of... |
| USD Rises on Speculation the Fed May Withdraw Stimulus
September 21, 2009 at 7:00 am
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| | USD traded near a three-week high Monday supported by liquidation pressures ahead of Tuesday's FOMC meeting and by fresh safe haven demand as equities, oil and gold prices decline. The FOMC meet Tuesday and Wednesday. There is speculation that the FOMC may begin to signal a withdrawal of stimulus and... |
| Dollar Requires Short Selling, Not Profit Taking
September 21, 2009 at 6:55 am
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| | Considering the recent reactions to, and continued impact of Fed jawboning, some increased equity profit taking could happen in front of the FOMC statement. That scenario may not empower the dollar however; it seems that only new sell positions in equities, rather than just liquidation of some long profit, will... |
| Leading Indicators Signal Recovery is Undergoing, While Stocks Drop as Fears Dominate Investors!
September 21, 2009 at 5:54 am
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| | A new week has arrived dear reader, whereas the world's largest economy continues to provide signals that the worst recession since WWII is coming to an end, though the economy is still undergoing recovery, as this recovery is expected to take a long time due to rising unemployment and tightened... |
| Broad-Based Increase in August Leading Economic Index
September 21, 2009 at 5:03 am
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| | Receiving positive contributions from five of the ten components, the Leading Economic Index (LEI) rose for the fifth consecutive month in August. Today's report is consistent with the recession's end. The LEI, which is designed to measure aggregate economic activity three to six months in the future, rose 0.6 percent... |
| U.S. Market Update
September 21, 2009 at 4:48 am
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| | In currencies, the greenback initially extended gains against the major pairs as the New York session began, until comments from Russia about reserve currencies added weight to the dollar. Russia's First Deputy PM Shuvalov reiterated that more reserve currencies were needed and that Russia would like to build up the... |
| Another One for the Casual Causality List... USD the New Funding Currency...
September 21, 2009 at 4:33 am
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| | I think the USD is likely to sink ahead for a whole host of reasons, including ones that make sense and others that don't make sense. History shows asset prices and FX can move a long way on faulty reasoning in ever ending cycles of overshooting and undershooting. After all... |
| Thoughts of FOMC's Exit Strategy Bolster Dollar to the Start Week
September 21, 2009 at 4:29 am
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| | The dollar has come out in fighting mood on Monday. This week's theme is once again an increase in risk aversion and that's sent the dollar index higher by 0.8% to register a reading of 77.3 on the December futures contract. The added onus on this week's FOMC meeting is... |
| USD Pulls Stronger in Consolidation ahead of Wednesday's FOMC Meeting
September 21, 2009 at 4:11 am
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| | The market continued where it left off on Friday, as the USD managed to pull stronger across the board, especially vs. the JPY, where the first level of resistance in the 91.75/92.00 area gave way. GBP remains the standout weakling in this market as EURGBP tacked onto gains above 0.9000... |
| Afternoon Forex Overview
September 21, 2009 at 3:53 am
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| | The dollar is stronger Monday in New York as the yen and higher-yielding currencies give back some of their recent gains versus the greenback while investors consolidate their positions. With markets in Japan, Singapore and several other Asian countries closed Monday for holidays, the dollar took advantage of thin conditions... |
| Packing on the Pounds: Sterling Looks Heavy
September 21, 2009 at 3:22 am
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| | The British pound, relative to the euro or the Australian dollar, has traded heavy over the last two months. On days when it's up against the US dollar ... it's up less than the commodity dollars or the euro. On days when it's down against the US dollar ... it's... |
| UK: Rightmove Posts Prices Revealing Housing Sector Enhancing
September 21, 2009 at 3:12 am
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| | A new economic week strolls in the United Kingdom as over the weekend we saw that Rightmove, the biggest residential website in the economy posting that house prices rose therefore continuing to support the fact that the housing sector is bottoming out. Rightmove posted that for the month of September... | | | 
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