Forex Blog - Trading on Foreign Exchange Market

Markets Less Fearful than Yesterday

larrygreenberg — Fri, 24 May 2013 11:29:37 +0000

The week is ending with somewhat less anxiety than Thursday, helped by Better-than-projected German IFO business climate in May. Better-than-expected German consumer confidence and French business sentiment. Soothing remarks from Japanese officials and ECB Pdt Draghi. The ability of U.S. stocks to close down only slightly on Thursday. Nonetheless, equities are mostly lower in the [...]

Urgent Free Metals Report: Read Bob Prechter’s Big 5 Gold Warnings for Bulls and Bears

ForexCycle.com — Fri, 24 May 2013 03:13:01 +0000

Gold and silver have been THE financial news in recent weeks. The coverage began during mid-April’s three-day price decline, but the real precious metals story goes back further than that. Since 2011, gold and silver have declined more than 30% and 50%, respectively. Continue reading to learn more, or get ahead of the trend by [...]

Daily Forex Analysis – May 24, 2013

ForexCycle.com — Fri, 24 May 2013 03:09:33 +0000

EURUSD Analysis. EURUSD remains in downtrend from 1.3242, the price action from 1.2796 is treated as consolidation of the downtrend. Range trading between 1.2796 and 1.2998 would likely be seen in a couple of days. Key resistance is at 1.2998, as long as this level holds, the downtrend could be expected to resume, and one [...]

Welcome to Summer

larrygreenberg — Thu, 23 May 2013 20:16:17 +0000

Wouldn’t it be nice for market participants and analysts if the matters which most influence currency valuation like future monetary policy changes could be laid out in black and white terms without qualifications or two-way causation and feed-back loops? In such a world, policymaking could be planned a year or more in advance. One would [...]

EUR/USD Edges Higher with Eurozone Manufacturing

ForexBlogger — Thu, 23 May 2013 15:33:44 +0000

EUR/USD edged higher today as manufacturing in the eurozone contracted with slower pace in May than in April. (Event A on the chart.) The data from the United States was good too, fueling speculations that the Federal Reserve may trim the size of its asset-purchase program. Such talks bolstered the dollar, but …

South African Reserve Bank’s Repo Rate Left Unchanged at 5.0%

larrygreenberg — Thu, 23 May 2013 15:03:47 +0000

South Africa has a fragile economy, and growth prospects are sufficiently lackluster to prompt monetary officials to revise its forecasts downward to 2.4% this year and an average pace of around 3% in 2013-14. That said, room does not presently exist to cut the 5.0% repo rate because of A depreciating rand and the risk [...]

Disastrous Day for Share Prices in Asia and Europe

larrygreenberg — Thu, 23 May 2013 12:07:51 +0000

Japan’s Nikkei-225 index plunged 7.3%, the most for any single session since March 15, 2011 and the second greatest daily drop since October 24, 2008. Elsewhere in the Pacific Rim, stocks fell by 2.5% in Hong Kong, 2.0% in Australia, 1.9% in Taiwan and India, 1.8% in Singapore, 1.7% in Indonesia, 1.3% in China, 1.2% [...]

Daily Forex Analysis – May 23, 2013

ForexCycle.com — Thu, 23 May 2013 04:14:51 +0000

USDJPY Analysis. USDJPY remains in uptrend from 97.01, and the rise extends to as high as 103.73. Support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 105.00 area. On the downside, a clear [...]

EUR/USD Fluctuates on Bernanke’s Comments

ForexBlogger — Wed, 22 May 2013 18:40:21 +0000

EUR/USD was swinging back and forth today as Federal Reserve Chairman Ben Bernanke sent mixed signals about the future monetary policy. At first, he warned about the danger of a premature ending to quantitative easing. Such comments made traders believe that the Fed will keep QE intact. Yet …

FOMC

larrygreenberg — Wed, 22 May 2013 18:10:18 +0000

Part I: Bernanke Testimony before the Joint Economic Congressional Committee Chairman Bernanke didn’t say anything startling or out of character, but world financial markets swayed to and fro depending on then nuances of the language of his answers and whether such implied reductions in monthly asset purchases happening sooner and by larger increments or the [...]