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Forex and Dow Jones Recommended Levels
10.07.2008 23:17
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EUR/USD Today's support: - 1.5750, 1.5727, 1.5702 and 1.5694(main), where correction is possible. Break would give 1.5683, where correction also may be. Then follows 1.5669. Break of the latter would result in 1.5635. If a strong impulse, we would see 1.5616. Continuation will give 1.5590.
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Another Big Surprise For The Dollar
10.07.2008 22:12
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The currency market was fairly quiet today with the US dollar rallying against some currencies and falling against others. Jobless claims were the only piece of data released and filings for unemployment dropped by 58k to the lowest level in 3 months. The goods news however was shrugged off by...
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USD/CAD: Friday's Canadian Employment Data May Determine Next Move
10.07.2008 22:12
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The USD/CAD remains range-bound from 0.9700 to 1.0350, and continues to hold near the upper end of the range. The unexpected change in policy by the Bank of Canada at last month's meeting has spurred mixed sentiment for the Canadian dollar, and any improvements in economic activity may help the...
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Forex Exchange Morning Report
10.07.2008 22:12
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The US dollar came under broad pressure in overnight trade, with worries over the US financial sector to the forefront once again. Former Fed official Poole's description of the govt-sponsored mortgage agencies as technically insolvent reverberated, along with fresh (unfounded) rumours about one of the investment banks. The USD jitters...
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Worries On Deepening Mortgage Losses Pressure Greenback
10.07.2008 22:12
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The dollar traded mostly lower versus other major currencies Thursday after Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson told lawmakers that new regulatory powers are needed to insulate the US economy from damage in the event of a big non-bank financial institution would collapse. Paulson also...
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Dollar Sheds Overnight Gains on Paulson Comments; BoE Holds Rates, London Stocks Slide
10.07.2008 17:13
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The Euro-Dollar pair was quiet overnight, gaining slightly in favor of the greenback as European stocks fell. However, in early NY trading the greenback weakened as Treasury Secretary Henry Paulson and Bernanke said financial market turmoil is "ongoing." The comments did not soothe jittery credit markets and the pair rose...
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New York Session Recap
10.07.2008 17:13
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The buck was sold in the NY session as a shaky stock market and a renewed pop in oil prices pushed the greenback lower. US stocks saw a rollercoaster of a day as financial market fears took hold once again. This was fueled by comments from former St Louis Fed...
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Greenback Weakens amid Lingering Fears
10.07.2008 16:13
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The dollar was softer on Thursday, drifting lower to 1.5800 against the euro and 106.69 versus the yen. Fears of "ongoing financial turmoil", as described by Fed Chairman Bernanke in his Congressional testimony, continue to plague the currency. Nonetheless, Treasury Secretary Paulson tried to alleviate fears over the solvency of...
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Dollar Seeing Major Movements on Fed Testimony
10.07.2008 15:14
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Fed Chairman Bernanke and Paulson are testifying today, and the market will be listening intently on their stance regarding the dollar, rising inflation, and financials. Freddie and Fannie Mae which are two of the largest lenders fell sharply based on statements from St. Louis Federal Reserve President William Poole saying...
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Australian Dollar Crosses Remain in Bull Trends
10.07.2008 15:14
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The drop from 1.0823 is either a completed A-B-C decline, is wave A of a triangle, or wave C is still underway from near 1.0140. Meanwhile, a push through 1.0081 would make the rally from .8870 an impulse and make the A-B-C labeling from the top preferred. A corrective decline...
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Eco Data 7/11/08
10.07.2008 13:18
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include('http://www.actionforex.com/resources/calendar/cal1.php?f=20080711');
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$/Swiss, Chance for Down Break of 4 Month Range Rising.....
10.07.2008 13:18
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The view in $/swiss remains unchanged as the market continues to chop in a 2 month bearish channel, within the broader consolidation since the March low at .9730, and is seen as a large correction with eventual new lows below .9730 after. Though there are still no signs ?pattern-wise? of...
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U.S. Market Update
10.07.2008 13:17
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The dollar has weakened in morning trading as renewed concerns swirled over the health of the financial sector. FX dealers focused on Paulson comment that financial firms "must be allowed to fail," prompting the market rumors regarding the imminent demise of the usual suspects. ITraxx Crossover Index continues to reflect...
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Foreign Exchange Market Daily Update
10.07.2008 13:17
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The US dollar remains within its recent ranges, buoyed by steady oil prices and some technical buying, but gains were capped by lingering worries about credit market turmoil and sharp losses in global stock markets. An unexpected decline in U.S. weekly jobless claims gave the dollar an extra boost, although...
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Leading US ICSC Sales Indicator Unexpectedly Hits 15-Month High
10.07.2008 13:17
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Though consumer confidence has plunged to lows not seen in over a quarter century and spending has been hit by fading home equitiy, high lending costs and cooling wage growth, retailers are still pointing to relatively strong sales - albeit in very specific sectors. The International Council of Shopping Centers'...
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