Forex Trading News

Sell GBPUSD | Forex Trading News

2011-01-11T12:25:00.001+08:00

On GBPUSD hourly chart there is a bearish reversal signal (Bearish Engulfing Pattern). We recommend selling with a stop loss above(Bearish Engulfing Pattern).

Bloomberg | Dollar Down | Oil $100

2010-12-29T07:48:00.003+08:00

The dollar weakened versus its counterparts in Australia, New Zealand and Canada, as rising commodity prices boosted demand for currencies linked to raw materials exports.Oil hit $100 per barrel.

The U.S. currency fell against half of its 16 most-traded peers as U.S. economic reports indicated weaker-than-forecast growth, bolstering the Federal Reserve’s plan to keep U.S. interest rates low. The Canadian dollar reached parity with the greenback for the first time since Nov. 11. The Swiss franc strengthened to a record against the dollar as investors demand an alternative to the euro amid the region’s sovereign-debt crisis.

Sell GBPUSD

2010-12-27T07:53:00.001+08:00

Sell GBPUSD

GBPUSD is facing a selling pressure pushing it down as long as it remains below (1.5486) any four hours close below (1.5383) will open the way for the instrument to test the next support level. Any four hours bare close above (1.5486) will change instrument`s direction. Traders should consider selling GBPUSD.

Bloomberg | Yen

2010-12-25T10:28:00.001+08:00

The yen fell against most major peers as Reuters reported that Japan said it will likely increase its reserves for intervening in the currency market. The dollar was poised for a weekly loss against 12 of its 16 most-traded counterparts as positive U.S. economic data spurred investments in riskier assets. Reports next week may show confidence among U.S. consumers improved even as housing remained weak.

The yen weakened against 13 of its 16 major peers. Japan will likely increase its reserves set aside for intervening in the currency market by 5 trillion yen ($60 billion) in the next fiscal year, Reuters reported, citing unidentified people. The pool is currently 145 trillion yen, according to the report.

The yen gained 12.1 percent this year according to Bloomberg Correlation-Weighted Currency Indexes, which track a basket of 10 developed-country currencies.

“Recoveries around the world appear to be picking up,” said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co. in Tokyo. “There seems to be risk-on sentiment, which is likely negative for the yen and dollar.”

Bloomberg | Dollar & Pound News

2010-12-22T07:34:00.005+08:00

The Dollar
The dollar was boosted against the euro by the demand for safety and optimism the world’s largest economy is improving. The Commerce Department will report Dec. 22 that the U.S. economy grew at a 2.8 percent annual rate during the third quarter, up from its initial estimate of a 2.5 percent pace, according to the median of a Bloomberg News survey of 61 economists.

The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners including the euro, yen and pound, rose as much as 0.4 percent.

The Pound
The pound rose against the euro and the dollar after the Confederation of British Industry said in a report the Bank of England will start raising interest rates within six months.

Interest Rate
Minutes of the Bank of England’s Dec. 9 Monetary Policy Committee meeting, due Dec. 22, will likely show members remained split in their decision to keep the key interest rate at a record low 0.5 percent and to hold the asset-purchase program at 200 billion pounds.

Free Forex Trading Signals

2010-12-20T14:38:00.002+08:00

Free Forex Trading Signals

The Free Forex Trading Signals for GBPUSD is as follows:
GBPUSD

Long Position at: 1.5522
Stop Loss at: 1.5492
Take Profit at: 1.5542 / 1.5554 / 1.5584

Dollar Weakens

2010-11-05T10:26:00.001+08:00

Assets Purchases

The dollar fell after the Federal Reserve said it will buy an additional $600 billion of Treasuries to boost the U.S. economy.

U.S. Retail Sales Falls

2010-06-12T01:52:00.002+08:00

June 11 (Bloomberg) -- The dollar rose against the euro while erasing an advance versus the yen after sales at U.S. retailers unexpectedly fell in May, increasing concern the nation's economic recovery may be slowing.

Clearly the market doesn't like it

said Jessica Hoversen, a Chicago-based analyst at the futures broker MF Global Holdings Ltd.

You have slower consumer growth in an environment where the market is looking for the U.S. consumer to take over.

Retail sales decreased 1.2 percent, the biggest drop since September 2009, following a 0.6 percent April gain that was larger than previously estimated, Commerce Department figures showed today in Washington.

The dollar was little changed at 91.30 yen at 8:56 a.m. in New York, from 91.34 yen yesterday. It rose 0.2 percent to $1.21 per euro, from $1.2124. The euro declined 0.2 percent to 110.51 yen, from 110.72 yen, gaining 0.5 percent for the week.

Forex Trading News

2010-06-09T19:35:00.001+08:00

June 8 (Bloomberg) -- Sterling fell against its major peers while the Australian and Canadian dollars rose as Fitch Ratings said the U.K.’s fiscal challenge is “formidable,” fueling demand for currencies of nations with strong balance sheets.

The dollar rose against the yen after Federal Reserve Chairman Ben S. Bernanke said the U.S. recovery is moving at a “moderate” pace. The Japanese currency fell against most major counterparts as Bernanke said he didn’t know when the Fed would begin the process of raising interest rates, boosting demand for higher-yielding currencies.

“The Fitch comments were a warning shot and highlight the risks if the U.K. doesn’t release a plan that’s strict and credible,” said Camilla Sutton, a Bank of Nova Scotia currency strategist in Toronto. “Bernanke’s comments were reassuring. Monetary policy will be looser for longer, and that’s a big benefit to markets that’s not fully priced in.”

The pound fell 0.5 percent to $1.4394 at 8:52 a.m. in New York, from $1.4468 yesterday. The yen slipped 0.1 percent to 91.48 per dollar, from 91.37 yesterday. Japan’s currency slid 0.3 percent to 109.27 yen per euro, from 108.95. It touched 108.08 yesterday, the strongest since November 2001. The euro was little changed at $1.1928, compared with $1.1923 in New York yesterday.

Australia’s dollar climbed 1.3 percent to 74.98 yen on speculation traders would boost carry trades, in which they borrow money in countries with low interest rates to purchase higher-yielding assets. Japan’s benchmark lending rate of 0.1 percent, compared with 4.5 percent in Australia, makes the yen a popular choice for funding such transactions.

U.K. Budget Deficit

Fitch suggested that British Prime Minister David Cameron will need to speed up budget-deficit cuts to protect the U.K.’s top credit rating. Treasury estimates show government debt- interest costs reaching 70 billion pounds ($101 billion) in five years, up from 31 billion pounds in the last fiscal year.

“The scale of the United Kingdom’s fiscal challenge is formidable and warrants a strong medium-term consolidation strategy, including a faster pace of deficit reduction than set out in the April 2010 budget,” Fitch said in the first statement by a credit-rating firm to discuss the U.K. since Cameron took office May 11.

The new government will unveil its emergency budget June 22, when Chancellor of the Exchequer George Osborne sets out reductions needed to tackle a deficit that rose to 11.1 percent of gross domestic product in the fiscal year through March.

Interest Rates Increase

2010-06-03T12:20:00.000+08:00

Interest Rate Increase

Options traders see a 78 percent chance of a rate hike at this month’s policy meeting by the Reserve Bank of New Zealand on June 10, according to an index from Credit Suisse AG.

The Bank of Canada raised its key interest rate from a record low yesterday, the first Group of Seven central bank to do so since July 2008.

“Because the Bank of Canada raised rates last night it opens the door for New Zealand to raise rates next week,” said Tony Allen, head of currency trading at ANZ National Bank Ltd. in Wellington. “There are more reasons to buy the kiwi than sell it at the moment.”

Australia’s dollar rose after the government said the economy expanded 0.5 percent in the first quarter and revised up the pace of growth for the final three months of 2009. The currency added 1.7 percent to 76.85 yen.

Non Farm Payrolls

2009-10-01T10:14:00.002+08:00

Non Farm Payrolls and Unemployment Rate
The Non Farm Payroll is scheduled to be released on this Friday.

Economists and market players are expecting the unemployment rate to creep higher to 9.8%, up from 9.7% a month earlier.

There is a fantastic improvement in the Non Farm Payrolls for September. There is a loss of 188k jobs compared with 216k jobs shed in Aujavascript:void(0)gust.

US Dollar Interest Rate

2009-09-30T11:43:00.001+08:00

The Federal Reserve will be among the last major central banks to raise interest rates, putting a recovery of the dollar at risk.
Foreign investors will be reluctant to invest more in the U.S., and the government deficit will keep widening.

Selling of US Dollar

2009-09-24T16:05:00.000+08:00

Traders sold off the dollar sharply following the FOMC's monetary policy announcement, in which the Fed held interest rates unchanged by unanimous decision at 0.0%-0.25%. The greenback relinquished the 1.48-level against the euro and slumped to its session lows versus the British pound at 1.6467.

Unemployment Benefits Dropped

2009-09-18T14:41:00.000+08:00

U.S. applications for unemployment benefits dropped by 12,000 to 545,000 in the week ended Sept. 12, from a revised 557,000 the week before, Labor Department data showed today. Economists forecast weekly claims would rise to 557,000 from a previously reported 550,000.

Dollar Fell

2009-09-17T11:24:00.000+08:00

Sept. 16 (Bloomberg) -- The yen and dollar fell against most of their major counterparts as an increase in America’s industrial output last month encouraged investors to sell the U.S. and Japanese currencies and buy higher-yielding assets.

Japan GDP

2009-08-18T11:03:00.001+08:00

Japan’s gross domestic product expanded an annualized 3.7 percent in the second quarter, following an 11.7 percent decline in the three months ended March 31, the Cabinet Office reported in Tokyo today. The median forecast of analysts surveyed by Bloomberg News was for a 3.9 percent increase.

US Unemployment

2009-07-30T12:48:00.002+08:00

Fed and the US Unemployment

NY Fed President Dudley expressed optimism over the economy, saying he expects moderate growth in the second half of this year, albeit considerably slower than in past recoveries. Dudley said "the balance of risks is still tilted toward weakness in growth and employment and not toward higher inflation", suggesting that the Fed will likely maintain low interest rates for some time to come. Lastly, he said that "if the recovery does, in fact, turn out to be lackluster, the unemployment rate is likely to remain elevated and capacity utilization rates unusually low" in the near-term.

The Fed's Beige Book revealed the pace of economic decline had moderated or stabilized at a low level in most districts adding that the manufacturing sector remained subdued but slightly more positive than in the past. The Fed said there was still slack in the labor markets, with most sectors reducing jobs or holding steady and net employment falling.

BOE Meeting for Cheaper Pound

2009-07-09T07:59:00.002+08:00

Cheaper Pound

The Bank of England’s Monetary Policy Committee will stick tomorrow with its current plan to spend as much as 125 billion pounds in newly printed money to boost the economy, according to a Bloomberg News survey of economists.

Economic Recovery

2009-07-08T11:24:00.000+08:00

The British Chambers of Commerce, a business lobbying group, said an economic recovery “is not guaranteed” and the central bank should extend its quantitative-easing program to the full 150 billion pounds ($243 billion) and seek permission to spend more. BOE policy makers will next meet July 9.

Economic Calendar

2009-07-07T07:31:00.003+08:00

Weekly Jobless Claims
The US economic calendar this week is light, consisting of weekly jobless claims, wholesale sales, wholesale inventory, trade deficit and the July University of Michigan consumer confidence report. Weekly jobless claims are estimated to ease slightly to 610k from 614k in the previous week.

Trade Deficit
The trade deficit for June is seen expanding to $30.0 billion versus $29.16.

USD Buoys

2009-07-01T11:38:00.000+08:00

Confidence Hits Stocks, Buoys USD
by Korman Tam

Safe-haven moves dictated movements in the foreign exchange market, with the dollar strengthening against most of its counterparts and pushing the euro back toward the 1.40-figure. The US equity market slumped on economic reports released earlier in the session, with the Dow Jones and S&P 500 losing over 1%.

The data this morning included the April Case-Shiller home price index, the NY NAPM index, the June Chicago PMI and the June consumer confidence index. The April Case-Shiller home price index declined by less than anticipated, falling by 0.6% versus a 2.2% drop in the previous month and lower by 18.1% on the year, improving from an 18.8% decline a year prior. The Chicago PMI report for June was inline with consensus estimates at 39.0, albeit up from the May reading at 34.9. The employment component of the PMI increased to 28.9 versus 25.0 while new orders rose to 41.6 from 37.3 previously. The key element in today's data that drove the markets lower was a disappointing report in the Conference Board's June consumer confidence survey, which missed expectations for a marginal improvement to 55 from 54.9 in May, instead falling beneath the 50-level to 49.3 from a downwardly revised reading of 54.8 a month prior.

The economic calendar for the remainder of the holiday-shortened week includes the June ADP private sector payrolls report, May pending home sales, May manufacturing ISM, durable goods orders and on Thursday, the key June non-farm payrolls report, and the June unemployment rate. Tomorrow's ADP private sector payrolls report will be closely scrutinized as a proxy for Thursday's non-farm payrolls, with ADP estimated to improve to -411k versus the previous month at -532k. Meanwhile, the government report on Thursday will likely reveal a larger amount of jobs loss in June at -368k from 345k in May and the unemployment rate is expected to creep up further to a new multi-decade high at 9.4% from 9.2%. ( More.. )

How Does A Debt Consolidation Loan Help You?

2009-06-23T12:07:00.002+08:00

How Does A Debt Consolidation Loan Help You?

Many people do not have a clear understanding what a debt consolidation loan is. A debt consolidation loan is a form of personal loan that enables you to consolidate or combine numerous other debts into one. A debt consolidation loan is always a good choice to get rid of your credit card debts. For instance, if you carry three or more credit cards, then you might get rid of your credit card debts through securing a debt consolidation loan that would repay all your credit cards. Therefore, you just have to make a single payment every month rather than making three or four separate payments.

Benefits of a Debt Consolidation Loan

Following are the salient benefits of a debt consolidation loan:

 A debt consolidation loan might carry a lesser interest rate in comparison to the rates of your credit cards. Hence, this loan would lower your interest payments and ultimately help you get rid of your credit card debts.
 With the reduced interest rates and stretched out repayment terms offered by a debt consolidation loan, you can lower your overall monthly payment.
 You are substituting multiple payments every month with just one payment, which must make your household budget simpler.

Are You Eligible for a Debt Consolidation Loan?

In order to become eligible for a debt consolidation loan, you have to fulfill the following criteria:

 The bank/lender would ask for a copy of your monthly budget in order to ascertain whether you can make your loan payments.
 You have to be employed or you should have other sources of income that would enable you to pay off the loan. Banks or lenders assess your capacity to repay a loan on the basis of your earnings. Therefore, you need to furnish your latest pay stubs and the tax return for the previous year to the lender or bank while requesting for a debt consolidation loan.
 To fulfill requirements established by the lenders or banks that provide debt consolidation loans, you might require a cosigner or security (like a home or a car).

Dollar Slumps

2009-05-27T10:22:00.000+08:00

Dollar Slumps

by Korman Tam

The Dollar relinquished gains against the euro and Aussie on the Tuesday session as UK and US markets returned from holiday. The US equity bourses lauded earlier upbeat economic reports, with a sharp unexpected rise in the Conference Board's May consumer confidence survey to its highest level in 8 months at 54.9, versus a revised 40.8 a month earlier - triggering a sharp rally in the Nasdaq, up 3.45% and the Dow Jones, advancing by over 2.5%. The Richmond Fed manufacturing survey reversed some of its previous month's declines, as the composite index edged up to 4 in May versus -9 in April, while the manufacturing shipments component improved to 9 from -3 and the services index held steady at -29.

However, not all the reports were positive, with the S&P Case-Shiller home price survey reinforcing current downward pressure on the housing market. The S&P Case-Shiller index in March slumped by 2.2% on a monthly basis and plunged by 18.7% on an annualized basis.

Bloomberg Forex News

2009-05-16T10:20:00.001+08:00

Euro Declines as Economy Contracts Most in at Least 13 Years

May 15 (Bloomberg) -- The euro fell against the dollar and extended a weekly loss versus the yen as the economy of the 16- nation region contracted the most in at least 13 years, raising concern the pace of recovery will be slow.

The U.S. currency pared its loss against the yen as manufacturing in the New York region contracted this month the least since August and the six-month outlook improved for a third straight month. The euro was headed for its first weekly decline versus the dollar in a month on Europe’s contraction.

“It’s a really bad piece of data, and it’s going to get worse because the European Central Bank has only come up with half-hearted measures,” said Geoffrey Yu, a strategist in London at UBS AG, the world’s second-largest currency trader. “This is going to be bad for the euro.”

The euro slid 0.5 percent to $1.3573 at 10:15 a.m. in New York, from $1.3639 yesterday, and was headed for a weekly decrease of 0.4 percent. The euro lost 1.1 percent to 129.27 yen from 130.67, for a 3.5 percent decline this week. The dollar dropped 0.6 percent to 95.25 yen, from 95.80, after earlier decreasing 1.1 percent.

The yen gained this week versus all of the 16 most actively traded currencies tracked by Bloomberg as reports indicating the global economic recovery may be slow reduced demand for higher- yielding assets. The yen rallied 7.6 percent to 11.06 against the South African rand and increased 5.7 percent to 14.70 versus Norway’s krone.

Yen Falls as Signs of U.S., Chinese Recovery Pare Safety Demand

2009-05-02T07:38:00.000+08:00

Yen Falls as Signs of U.S., Chinese Recovery Pare Safety Demand

May 1 (Bloomberg) -- The yen fell to a two-week low against the euro while the dollar dropped as signs of recovery in manufacturing in the U.S. and China sapped demand for the currencies as a refuge.

Australia’s dollar rose for a ninth week against the greenback as the rand gained today versus all of the other major currencies on speculation investors will buy higher-yielding assets. The dollar advanced against the yen as the yield premium of 10-year Treasuries over comparable Japanese debt increased this week to the highest level since November.

“There’s renewed optimism about the global economy,” said Samarjit Shankar, director of strategy for the global markets group in Boston at Bank of New York Mellon, the world’s largest custodial bank, with about $20 trillion in assets under administration. “Money is coming from the sidelines. For now, risk appetite is weighing on the yen, and the dollar remains on its back foot.”

The euro rose 1.1 percent to 131.98 yen at 10:05 a.m. in New York, from 130.52 yesterday, and reached 132.35, the highest level since April 14. The yen declined 0.9 percent to 99.47 against the dollar, from 98.63. It touched 99.58, the weakest level since April 17. The euro appreciated 0.3 percent to $1.3273 from $1.3230.