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Euro Gains — In Spite of Irish Downgrade
July 19, 2010Euro heads higher in forex trading Many forex traders got a bit of a surprise today when the euro moved higher in forex trading against the U.S. dollar. This is because many expected the euro to weaken on the currency market, due to some continuing issues in Europe. First of all, Hungary failed to come [...]
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U.K. Pound Drops in Currency Trading
July 16, 2010Sterling can’t find strength in forex trading The U.K. pound moving lower against the U.S. dollar in currency trading on the FX market today. The pound is in retreat, even though the U.S. dollar is lower against the euro in forex trading. Indeed the Aussie is down against the dollar as well, as some caution [...]
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Forex: Aussie rises amid Chinese growth news
July 15, 2010FXstreet.com (Córdoba) – Currencies tied to commodities are bouncing after China’s GDP growth and inflation eased signaling a diminishing risk of economic overheating. AUD/USD jumped from 0.8800 to the 0.8847 zone within the last hour after being as deep as 0.8779. The Aussie has managed to recover almost completely the lost ground and is currently [...]
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Forex: EUR/CHF finds support at 1.3400
July 14, 2010FXstreet.com (Barcelona) – Reaching its highest level since June 28 in the early hours of trading today, the EUR/CHF has since pared daily gains yet still finds firm support above 1.3400. Currently the pair treads lightly around that critical level, trading at 1.3407 at time of writing which is 0.12% lower from the opening price. [...]
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Forex: USD/CAD fluctuates widely on mixed data
July 14, 2010FXstreet.com (Barcelona) – Despite falling sharply around mid-day on weak US retail data and reaching a new daily low of 1.0287, the USD/CAD trimmed losses rising more than 60 pips after the EIA reported a larger-than-expected drop in crude inventories. The bullish momentum failed to sustain however, with the pair again dropping on glum FOMC [...]
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U.S. Dollar Retains Some Strength After Retail Sales
July 14, 2010Greenback higher in forex trading The U.S. dollar is retaining some of its strength in currency trading on the FX market with the news that retail sales were lower in June. Indeed, the news that U.S. consumers aren’t spending a great deal is likely to derail the economy to some degree. However, things aren’t as [...]
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Euro Overcomes Portual Downgrade to Move Higher
July 13, 2010Euro forex trading forecast Last night, Moody’s downgraded Portugal’s sovereign debt rating. This didn’t come as much of a surprise, since Fitch and S&P had already done so. However, the move did send the euro dipping below $1.25 in forex trading. Now, though, all of that is forgot as the euro moves higher in currency [...]
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U.K. Pound Weakens in Currency Trading
July 12, 2010Debt concerns continue to weigh on sterling in forex trading The U.K. pound is heading lower in currency trading on the FX market today, as concerns about the British economy continue. First quarter GDP data has been revised, and is not as positive as hoped. Additionally, concerns about U.K. debt continue to weigh on the [...]
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Reasons for Euro Support in Forex Trading
July 8, 2010GFT’s Kathly Lien breaks down euro rebound Risk is returning to the forex market, and one of the beneficiaries is the euro. However, the euro success in forex trading isn’t just due to the return of risk appetite. There are some reasons that the euro is returning to favor.
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Euro Forex Trading Forecast: Quantitative Easing Fears
July 7, 2010Euro in currency trading The euro forex trading forecast is once again looking lower. With the euro zone economy showing signs of slow growth, rumors that quantitative easing might be needed are circulating. As a result, the euro is lower against the U.S. dollar today. Yesterday, the U.S. dollar weakened against the euro in forex [...]
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U.S. Dollar Heads Lower in Forex Trading
July 2, 2010Fundamentals could mean lower greenback in currency trading The U.S. dollar is down against the U.K. pound and the euro in forex trading today, thanks to the payrolls report. The news has been interesting, but a look at the report indicates that, fundamentally, things could be worsening for the greenback. Payrolls lost overall in June, [...]
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U.K. Pound Moves Higher Against the U.S. Dollar
July 2, 2010Sterling in currency trading The U.K. pound is moving higher against the U.S. dollar in forex trading on the currency market. The pound is seeing some support from European markets and a higher FTSE 100. Concerns about British debt are being dismissed to a certain degree as Moody’s insists that the country’s financial strength is [...]
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U.S. Dollar Pummeled in Forex Trading
July 1, 2010Greenback drops on the fundamentals The fundamentals are finally coming into focus for the U.S. dollar in forex trading, and the picture isn’t pretty. The greenback is dropping as forex traders look for other investments, thanks to the disappointing economic data coming out of the U.S. Home sales have dropped off significantly since the expiration [...]
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Risk Aversion on the Currency Market
June 29, 2010U.S. dollar higher against European currencies, lower against the yen Risk aversion has set in on the currency market, and the U.S. dollar is benefiting from it — at least in trading against European currencies. The U.S. dollar is once again higher against the U.K. pound and the euro in forex trading. Greenback is down [...]
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Will the Euro Ever Regain Its Strength?
June 29, 2010Euro Forex Trading Forecast Once again, the euro has dropped below the 1.23 level in forex trading against the U.S. dollar. And the euro forex trading forecast isn’t calling for any significant strength anytime soon.
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Euro Lower in Currency Trading
June 28, 2010Challenges remain for the euro in forex trading The euro continues to struggle in currency trading on the FX market, heading lower. While it is not plummeting as it was a few weeks ago, the euro still remains weak. While the euro is a little bit lower in forex trading against the U.S. dollar, one [...]
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U.S. Dollar Mixed in Forex Trading
June 28, 2010Major currencies mostly ragebound so far For the most part, major currencies are largely rangebound at this point today. Risk has made a small appearance, but it has been unable to maintain. As a result, the U.S. dollar is mixed in forex trading, up against the euro, but down against the pound. Some of the [...]
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U.S. GDP Revised Lower, Bank Regulation Passes House and Senate
June 25, 2010U.S. dollar higher in forex trading It’s been an interesting morning so far. The U.S. GDP was revised lower for Quarter 1 of 2010. Originally, the estimate had been for 3% growth in the first quarter, but the new numbers suggest that the economy only grew 2.7%. On top of that, the House and Senate [...]
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Euro Lower Against the U.S. Dollar on Debt Issues
June 24, 2010Euro in forex trading After seeing some gains earlier, the euro has once again fallen back in forex trading against the U.S. dollar. Sovereign debt issues in Europe are playing havoc with the stock market, and that is weakening the euro. Also providing some support for the U.S. dollar in currency trading is a general [...]
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U.K. Pound Spikes in Currency Trading, Thanks to BOE Minutes
June 23, 2010Sterling gains in forex trading The U.K. pound spiked up above the 1.49 level against the U.S. dollar in currency trading today. The news came as a result of news of a split in sentiment with regard to interest rates at the last BOE meeting. GFT’s Boris Schlossberg reports on the jump by the sterling [...]