Learn how to trade Forex Currency Trading Charts and live day trading room

2009-09-19T16:07:00.000-07:00

The Dollar Index reached a 12-month low as the economic reports boosted demand for higher-yielding currencies and Asian stocks extended a global rally. The dollar slid to a one-year low against the euro before reports that may show Europe's trade surplus is growing and the U.S. housing market is improving.
The yen fell against 13 of the 16 most-active currencies as dollar-borrowing costs at a record low helped Japanese investors buy more overseas assets. It also weakened after data showed Japanese purchases of foreign bonds reached a four-year high.
The Dollar Index, which tracks the U.S. currency against the euro, yen, pound, Canadian dollar, Swiss franc and Swedish krona, sank to 76.067 today, the lowest level since Sept. 23, 2008.
The dollar traded at $1.4743 per euro at 7:30 a.m. in London from $1.4709 yesterday in New York. It earlier reached $1.4767, the weakest level since Sept. 25, 2008. The yen was at 90.95 per dollar from 90.93 yesterday, when it hit 90.13, the strongest level since Feb. 12. Japan’s currency declined to 134.13 per euro from 133.78.
Australia's currency rose to 87.74 U.S. cents from 87.35 cents yesterday, after earlier touching 87.75 cents, the most since Aug. 22, 2008. New Zealand’s dollar was at 71.56 U.S. cents from 71.41 cents in New York. It earlier reached 71.58 cents, also the strongest since Aug. 22, 2008.

Euro strengthens and dollar lower learn to trade currency sept 3

2009-09-03T07:46:00.000-07:00

The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4295 level and was supported around the $1.4190 level. The common currency retraced some of yesterday’s losses as U.S. economic data were generally weaker-than-expected. First, it was reported that MBA mortgage appications were off 2.2% in the latest week, down from the prior reading of +7.5%. Second, August Challenger job cuts were off 13.8% y/y, down from the prior reading of -5.7%. Third, the August ADP employment report evidenced a 298,000 contraction in private sector jobs, worse than forecast but better than July’s revised reading of -360,000. Fourth, July factory orders printed at +1.3%, below estimates but above the revised June print of +0.9%. Fifth, Q2 unit labour costs were off 5.9%, down from the preliminary reading of -5.8%. Sixth, it was reported that Q2 non-farm productivity grew a healthy 6.6%, up from the prior reading of 6.4%. While productivity growth is generally seen as a long-term benefit to the economy, it is also coincident with a decrease in payrolls and that means companies are accomplishing more with fewer workers. Seventh, August personal bankruptices were up 24% y/y. Minutes from the Federal Open Market Committee’s interest rate deliberations on 12 August were released today and they did not offer much guidance about the Fed’s plans to maintain significant amounts of liquidity in the banking system to support the economy. In eurozone news, the German finance ministry reported the state of the economy has “stabilized” following a meeting of Ecofin finance ministers in Brussels. The hot button in the eurozone and U.K. now is a plan to limit bankers’ bonuses. Data released in the eurozone today saw EMU-16 industrial producer prices register their sharpest annual decline in more than 27 years, off 0.8% m/m and 8.5% y/y. Also, EMU-16 Q2 GDP was off 0.1% q/q and 4.7% y/y. Euro bids are cited around the US$ 1.3900 figure.

¥/ CNY
The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥92.10 level and was capped around the ¥93.05 level. The pair reached a seven-week low as traders reacted to a worse-than-expected U.S. private sector jobs report. Risk aversion remains strong with the VIX index – a measure of stock market volatility – at its highest level since 10 July. Bank of Japan Governor will attend the Group of Twenty meeting in London this week followed by the Bank for International Settlements meeting in Basel. Democratic Party of Japan legislator Kohei Otsuka said the new DPJ government “won’t meddle” in the central bank’s monetary policy and market operations and added the new government will “respond appropriately” to excessive currency moves. Data released in Japan overnight saw the August monetary base climb 6.1% y/y. The Nikkei 225 stock lost 2.02% to close at ¥10,280.46. U.S. dollar offers are cited around the ¥94.75 level. The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥131.00 figure and was capped around the ¥132.50 level. The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥149.00 figure while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥86.40 level. In Chinese news, the U.S. dollar gained ground vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8273 in the over-the-counter market, up from CNY 6.8257. China announced today that it plans to purchase US$ 50 billion in International Monetary Funds bonds. Chinese benchmark money rates rose by the most in one month on speculation that demand for capital will increase ahead of Metallurgical Corp. of China Ltd’s first share issuance next week. Data released in China yesterday saw the August Purchasing Managers’ Index improve to 54. China is experiencing its worst export slump in more than two decades and some economists are predicting China’s US$585 billion stimulus could lead to a surge in Chinese imports in the fourth quarter.

Technical Outlook at 1230 GMT (EDT + 0400)

(Bid Price) (Today’s Intraday Range)

EUR/ USD 1.4285 1.4294, 1.4190
USD/ JPY 92.10 93.07, 92.09
GBP/ USD 1.6288 1.6299, 1.6113
USD/ CHF 1.0591 1.0685, 1.0580
AUD/USD 0.8368 0.8372, 0.8239
USD/CAD 1.1031 1.1101, 1.1005
NZD/USD 0.6742 0.6776, 0.6683
EUR/ JPY 131.62 132.50, 131.01
EUR/ GBP 0.8771 0.8820, 0.8747
GBP/ JPY 150.05 150.55, 149.01
CHF/ JPY 86.96 87.35, 86.41

Support Resistance Support Resistance

EUR/ USD USD/ JPY

L1. 1.3780 1.4295 90.05 98.85
L2. 1.3605 1.4630 88.60 101.65
L3. 1.3400 1.5105 87.10 105.05

GBP/ USD USD/ CHF

L1. 1.5845 1.6495 1.0510 1.1165
L2. 1.5690 1.6740 1.0275 1.1270
L3. 1.5440 1.6830 0.9750 1.1555

AUD/ USD USD/ CAD

L1. 0.7715 0.8250 1.1340 1.1920
L2. 0.7440 0.8555 1.1130 1.2190
L3. 0.7165 0.9050 1.0725 1.2520

NZD/ USD EUR/ JPY

L1. 0.6190 0.6665 125.65 134.50
L2. 0.6020 0.6945 121.70 139.80
L3. 0.5655 0.7760 118.50 141.50

EUR/ GBP EUR/ CHF

L1. 0.8320 0.8770 1.4905 1.5380
L2. 0.7870 0.9080 1.4670 1.5580
L3. 0.7590 0.9355 1.4420 1.5880

GBP/ JPY CHF/ JPY

L1. 146.10 157.75 81.55 93.55
L2. 142.05 160.30 79.20 97.90
L3. 135.70 167.30 75.40 105.05

SCHEDULE

Wednesday, 2 September 2009
all times GMT
(last release in parentheses)

0130 Australia Q2 GDP growth (0.4% q/q)
0130 Australia Q2 GDP growth (0.4% y/y)
0830 UK August PMI, construction
0900 Eurozone Q2 gross domestic product (-0.1% q/q)
0900 Eurozone Q2 gross domestic product (-4.6% y/y)
0900 Eurozone July producer price index (0.3% m/m)
1100 US MBA mortgage applications (7.5%)
1130 US August Challenger job cuts (-5.7% y/y)
1215 US August ADP employment change (-371,000)
1230 US Q2 non-farm productivity (6.4%)
1230 US Q2 unit labour costs (-5.8%)
1400 US July factory orders (0.4%)
1800 US Federal Open Market Committee meeting minutes
2330 Australia August performance of services index (44.1)

Thursday, 3 September 2009
all times GMT
(last release in parentheses)

0130 Australia July trade balance (-A$ 441 million)
0300 NZ August ANZ commodity prices (1.0%)
0645 France Q2 ILO unemployment rate (9.1%)
0745 Italy August PMI, services (44.5)
0750 France August PMI, services (48.9)
0755 Germany August PMI, services (54.1)
0800 Eurozone August PMI, services (49.5)
0800 Eurozone August PMI, composite (50.0)
0830 UK August PMI, services (53.2)
0900 Eurozone July retail sales (-0.2% m/m)
0900 Eurozone July retail sales (-2.4% y/y)
1145 Eurozone European Central Bank interest rate decision
1230 US Weekly initial jobless claims (570,000)
1230 US Continuing jobless claims (6.133 million)
1400 US August ISM, non-manufacturing (46.4)
1500 US August ICSC chain store sales (-5.0% y/y)
2350 Japan Q2 capital spending (-25.3%)

Friday, 4 September 2009
all times GMT
(last release in parentheses)

0715 CH August consumer price index (-1.2% y/y)
0715 CH August consumer price index (-0.7% m/m)
0800 Italy June trade balance
0945 Eurozone European Commission economic forecasts
1100 Canada August net change in employment (-44,500)
1100 Canada August unemployment rate (8.6%)
1230 US August non-farm payrolls, net change (-247,000)
1230 US August unemployment rate (9.4%)
1230 US August average weekly hours (33.1)
1230 US August average hourly earnings (0.2% m/m)
1230 US August average hourly earnings (2.5% y/y)
1400 Canada August Ivey, PMI (51.8)
1600 US G20 central bankers and finance ministers meet

Day trading system

Learn how to trade futures

Yen is moving up as US equities are showing weakness. Learn to trade forex, online forex course.

2009-09-02T17:01:00.000-07:00

The euro approached a three-week high against the dollar after a German report showed retail sales increased for the first time in three months, adding to signs the 16-nation region is emerging from recession. The euro gained for the first time in six days versus the yen as the Federal Statistics Office in Wiesbaden said sales, adjusted for inflation and seasonal swings, rose 0.7 percent in July after a 1.3 percent drop in June.

Furthermore, European Central Bank Governing Council member Ewald Nowotny said yesterday he does not expect a double-dip recession in the euro region as long as policy makers do not hurry to remove emergency stimulus measures.

The yen fell against 12 of 16 major currencies after a Chinese report showed manufacturing expanded at the fastest pace in 16 months, spurring demand for emerging-market assets.

Europe's currency rose to $1.4361 as of 7:39 a.m. in London from $1.4334 in New York yesterday. It touched $1.4406 on Aug. 27, the strongest level since Aug. 7. The euro climbed to 133.66 yen from 133.48 yen. The dollar was at 93.08 yen from 93.12 yen.

Crude oil rose above $70 a barrel, reversing earlier losses, after a report showed manufacturing in China expanded in August, easing concern of an economic slump in the world's second-largest energy user. Crude oil for October delivery rose as much as 47 cents, or 0.7 percent, to $70.43 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $70.32 at 2:45 p.m. in Singapore. Futures earlier fell as much as 0.6 percent to $69.55.

Day trading system

Learn how to trade futures

Euro is moving up. News and currency levels Sept. 1

2009-09-01T06:53:00.000-07:00

The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4365 level and was supported around the $1.4255 level. The European Central Bank convenes on Thursday and is not expected to change monetary policy at that meeting. The ECB today released a report that notes there is systemic risk in the credit default swaps market because the ten most active counterparties account for up to 72% of default swap exposure surveyed by lenders. Data released in the eurozone today saw the August consumer price index improve to -0.2% from July’s -0.7% decline. The decrease in disinflationary pressures suggests inflation may increase in the coming months. Recent economic activity in the eurozone has been on the upswing but there is a sizable chance the recent economic improvement could falter. French finance minister Lagarde was on the wire today saying the economies of the eurozone are stabilizing. In U.S. news, data released in the U.S. today saw the August Chicago PMI index print at 50.0, up from the prior reading of 43.4. Also, the New York NAPM activity improved for the first time in three months in August. Recent economic data in the U.S. have been on the upswing and dealers are interested to see if recent housing and and other economic data can continue the uptrend. Euro bids are cited around the US$ 1.3900 figure.
¥/ CNY
The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥92.55 level and was capped around the ¥93.55 level. As expected, the Democratic Party of Japan won a landslide victory in yesterday’s general election over the long-incumbent Liberal Democratic Party of Japan. The DJP won 308 seats in the lower house of parliament and the LDP’s representation fell to 119 from 300. Traders are carefully assessing the election results to determine how well the DPJ will be able to control spending and manage the government. There is widespread speculation the DPJ will attempt to inflate public spending through new Japanese government bond issuance, possibly increasing social spending. There is also skepticism that the yen’s post-electoral gains will be sustainable. Some believe former Ministry of Finance official “Mr Yen” Sakakibara will get a portfolio in the new government. Data released in Japan overnight saw July construction orders off 42.8% y/y to ¥660.9 billion while July overall housing starts were off 32.1% y/y to 65,974. Other data released tonight saw July wages decline 4.8% y/y while July overall retail sales were off 2.5% y/y. Additionally, July industrial output was up 1.9% m/m. The Nikkei 225 stock index lost 0.40% to close at ¥10,492.53. The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥132.15 level and was capped around the ¥133.85 level. The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥132.15 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥87.20 level. In Chinese news, the U.S. dollar gained ground vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8290 in the over-the-counter market, up from CNY 6.8256. Chinese equities were off more than 6% today and closed at levels not seen since May. It was reported that new yuan loans made by Chinese lenders in August were likely to fall below ¥300 billion from ¥356 billion in July and ¥1.53 trillion in June.
₤
The British pound moved higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.6300 figure and was supported around the $1.6180 level. Bank of England Monetary Policy Committee member Besley reported he sees economic growth returning by the end of the year during a period of “recuperation and recovery.” He added he sees “some sort of growth” in 2009 and 2010. Data released in the U.K. today saw August house prices rise 0.1% m/m, the first rise since July 2007, and were off 6.7% y/y. Cable bids are cited around the US$ 1.6030 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.8825 level and was supported around the ₤0.8775 level.
Technical Outlook at 1230 GMT (EDT + 0400)

(Bid Price) (Today’s Intraday Range)

EUR/ USD 1.4288 1.4315, 1.4255
USD/ JPY 92.94 93.55, 92.54
GBP/ USD 1.6225 1.6300, 1.6181
USD/ CHF 1.0614 1.0634, 1.0584
AUD/USD 0.8363 0.8441, 0.8338
USD/CAD 1.1055 1.1090, 1.0885
NZD/USD 0.6806 0.6855, 0.6791
EUR/ JPY 132.76 133.84, 132.13
EUR/ GBP 0.8803 0.8824, 0.8776
GBP/ JPY 150.80 152.16, 150.03
CHF/ JPY 87.49 88.23, 87.19

Support Resistance Support Resistance

EUR/ USD USD/ JPY

L1. 1.3780 1.4295 90.05 98.85
L2. 1.3605 1.4630 88.60 101.65
L3. 1.3400 1.5105 87.10 105.05

GBP/ USD USD/ CHF

L1. 1.5845 1.6495 1.0510 1.1165
L2. 1.5690 1.6740 1.0275 1.1270
L3. 1.5440 1.6830 0.9750 1.1555

AUD/ USD USD/ CAD

L1. 0.7715 0.8250 1.1340 1.1920
L2. 0.7440 0.8555 1.1130 1.2190
L3. 0.7165 0.9050 1.0725 1.2520

NZD/ USD EUR/ JPY

L1. 0.6190 0.6665 125.65 134.50
L2. 0.6020 0.6945 121.70 139.80
L3. 0.5655 0.7760 118.50 141.50

EUR/ GBP EUR/ CHF

L1. 0.8320 0.8770 1.4905 1.5380
L2. 0.7870 0.9080 1.4670 1.5580
L3. 0.7590 0.9355 1.4420 1.5880

GBP/ JPY CHF/ JPY

L1. 146.10 157.75 81.55 93.55
L2. 142.05 160.30 79.20 97.90
L3. 135.70 167.30 75.40 105.05

SCHEDULE

Sunday, 30 August 2009
all times GMT
(last release in parentheses)

2301 UK August Hometrack housing survey (0.0% m/m)
2301 UK August Hometrack housing survey (-7.7% y/y)
2315 Japan August PMI, manufacturing (50.4)
2350 Japan July industrial production (2.3% m/m)
2350 Japan July industrial production (-23.5% y/y)
2350 Japan July large retailers’ sales (-6.8%)
2350 Japan July retail trade (-0.2% m/m)
2350 Japan July retail trade (-2.9% y/y)

Monday, 31 August 2009
all times GMT
(last release in parentheses)

0030 Australia August TD Securities inflation (0.9% m/m)
0030 Australia August TD Securities inflation (1.9% y/y)
0100 Australia July new home sales (0.5% m/m)
0130 Australia Q2 inventories (-1.2%)
0130 Australia July private sector credit growth (0.1% m/m)
0130 Australia July private sector credit growth (3.4% y/y)
0130 Japan July labour cash earnings (-7.0% y/y)
0300 NZ August NBNZ business confidence (18.7)
0500 Japan July housing starts (-32.4% y/y)
0500 Japan July housing starts, annualized (749,000)
0500 Japan July construction orders (-28.0% y/y)
0530 Japan Bank of Japan Governor Shirakawa speaks
0800 Italy June retail sales
0900 Italy August consumer price index
0900 Eurozone August CPI, estimate (-0.7% y/y)
1230 Canada Q2 GDP, annualized (-5.4% q/q)
1230 Canada June GDP (-0.5% m/m)
1345 US August Chicago PMI (43.4)
2330 Australia August PMI, manufacturing (44.5)

Tuesday, 1 September 2009
all times GMT
(last release in parentheses)

0130 Australia Q2 current account balance (-A$ 4.614 billion)
0130 Australia July building approvals (9.3% m/m)
0130 Australia July building approvals (-14.3% y/y)
0430 Australia Reserve Bank of Australia interest rate decision
0545 CH Q2 gross domestic product (-0.80% q/q)
0545 CH Q2 gross domestic product (-2.4% y/y)
0730 Italy August business confidence
0730 Italy August services survey
0730 CH August PMI, manufacturing (44.3)
0745 Italy August PMI, manufacturing (45.4)
0750 France August PMI, manufacturing (50.2)
0755 Germany August PMI, manufacturing (49.0)
0755 Germany August unemployment, change (-6,000)
0755 Germany August unemployment (8.3%)
0800 Eurozone August PMI, manufacturing (47.9)
0830 UK July mortgage approvals (47,600)
0830 UK July net consumer credit (₤0.1 billion)
0830 UK July net lending secured on dwellings (₤0.3 billion)
0830 UK August PMI, manufacturing (50.8)
0830 UK July M4 money supply (1.0% m/m)
0830 UK July M4 money supply (13.6% y/y)
0900 Eurozone July unemployment rate (9.4%)
0900 Eurozone July producer price index (-6.6% y/y)
1400 US August ISM manufacturing (48.9)
1400 US August ISM, prices paid (55.0)
1400 US July pending home sales (3.6% m/m)
1400 US July pending home sales (9.2% y/y)
1400 US July construction spending (0.3% m/m)
2350 Japan August monetary base (6.1% y/y)

Wednesday, 2 September 2009
all times GMT
(last release in parentheses)

0130 Australia Q2 GDP growth (0.4% q/q)
0130 Australia Q2 GDP growth (0.4% y/y)
0830 UK August PMI, construction
0900 Eurozone Q2 gross domestic product (-0.1% q/q)
0900 Eurozone Q2 gross domestic product (-4.6% y/y)
0900 Eurozone July producer price index (0.3% m/m)
1100 US MBA mortgage applications (7.5%)
1130 US August Challenger job cuts (-5.7% y/y)
1215 US August ADP employment change (-371,000)
1230 US Q2 non-farm productivity (6.4%)
1230 US Q2 unit labour costs (-5.8%)
1400 US July factory orders (0.4%)
1800 US Federal Open Market Committee meeting minutes
2330 Australia August performance of services index (44.1)

Thursday, 3 September 2009
all times GMT
(last release in parentheses)

0130 Australia July trade balance (-A$ 441 million)
0300 NZ August ANZ commodity prices (1.0%)
0645 France Q2 ILO unemployment rate (9.1%)
0745 Italy August PMI, services (44.5)
0750 France August PMI, services (48.9)
0755 Germany August PMI, services (54.1)
0800 Eurozone August PMI, services (49.5)
0800 Eurozone August PMI, composite (50.0)
0830 UK August PMI, services (53.2)
0900 Eurozone July retail sales (-0.2% m/m)
0900 Eurozone July retail sales (-2.4% y/y)
1145 Eurozone European Central Bank interest rate decision
1230 US Weekly initial jobless claims (570,000)
1230 US Continuing jobless claims (6.133 million)
1400 US August ISM, non-manufacturing (46.4)
1500 US August ICSC chain store sales (-5.0% y/y)
2350 Japan Q2 capital spending (-25.3%)

Friday, 4 September 2009
all times GMT
(last release in parentheses)

0715 CH August consumer price index (-1.2% y/y)
0715 CH August consumer price index (-0.7% m/m)
0800 Italy June trade balance
0945 Eurozone European Commission economic forecasts
1100 Canada August net change in employment (-44,500)
1100 Canada August unemployment rate (8.6%)
1230 US August non-farm payrolls, net change (-247,000)
1230 US August unemployment rate (9.4%)
1230 US August average weekly hours (33.1)
1230 US August average hourly earnings (0.2% m/m)
1230 US August average hourly earnings (2.5% y/y)
1400 Canada August Ivey, PMI (51.8)
1600 US G20 central bankers and finance ministers meet

Day trading system

Learn how to trade futures

Currency trading Euro moved lower Aug 29

2009-08-29T11:01:00.000-07:00

The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4320 level and was capped around the $1.4390 level. Data released in the U.S. today saw July personal income growth at 0.0%, up from June’s revised -1.1% decline. July personal spending printed at +0.2%, down from June’s revised print of +0.6%. Also, the July personal consumption expenditures deflator was off 0.8% y/y, worse than the 0.4% June reading. At the core level, the July core rate up 0.1% m/m and 1.4% y/y. Finally, the University of Michigan consumer sentiment indicator came in at 65.7, above the prior mid-August reading of 63.2 but below the July reading of 66.0. The common currency failed to sustain its gains through the North American session as U.S. equity prices retreated in the session. St. Louis Fed President Bullard was on the wires earlier and dovishly said the Fed needs to see much more “convincing” economic data before contemplating an increase in rates. In eurozone news, the European Commissions’s economic sentiment indicator improved to 80.6 from a reading of 76 in July. Many economists believe the eurozone economy will expand around 0.5% q/q in the third quarter. Bundesbank reported German banks expect a modest increase in lending volumes in the second half of 2009 and in 2010, corroborating the central bank’s assessment there is no credit crunch in the eurozone’s largest economy. German Chancellor Merkel today reported the German economy might contract 5% or 6% in 2009. Euro bids are cited around the US$ 1.3900 figure.
¥/ CNY
The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥93.40 level and was capped around the ¥94.05 level. All eyes are focused on this weekend’s general election in Japan where the long-incumbent Liberal Democratic Party looks poised to lose its stronghold on power to the Democratic Party of Japan. Some Japan-watchers believe this will result in increased Japanese government bond issuance to finance the expected increase in public works spending. It is unclear how a DPJ victory would impact the yen. Japan is expected to battle deflation through early 2012 and will need all the help it can get from its slumping export sector through a weaker yen. Many data were released in Japan overnight. First, the July unemployment rate rose to 5.7% from 5.4 in June, the largest print since World War II and significantly above expectations. Second, the July nationwide consumer price index was off 0.3% m/m and off 2.2% y/y with the core rate off 0.2% m/m and 2.2% y/y. The Tokyo-area August consumer price index was up +0.3% m/m and +0.1% y/y with the core component flat m/m and off 0.2% y/y. Other data saw July all household spending off 2.0% y/y while the trade surplus for the first ten days in August printed at ¥48.08 billion, off 69.2% y/y. The Nikkei 225 stock index climbed 0.57% to close at ¥10,534.14. U.S. dollar offers are cited around the ¥104.15 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥135.00 figure and was supported around the ¥134.00 figure. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥153.60 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥88.90 level. In Chinese news, the U.S. dollar lost ground vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8256 in the over-the-counter market, down from CNY 6.8273. Chinese Premier Wen this week said the markets need to avoid being “blindly optimistic” about the global economic recovery and added China must maintain its “moderately loose” monetary policy and “active” fiscal policy. PBoC has reported it will ensure “reasonable and ample” liquidity.

Technical Outlook at 1230 GMT (EDT + 0400)

(Bid Price) (Today’s Intraday Range)

EUR/ USD 1.4371 1.4388, 1.4324
USD/ JPY 93.60 94.06, 93.40
GBP/ USD 1.6305 1.6380, 1.6260
USD/ CHF 1.0561 1.0617, 1.0538
AUD/USD 0.8443 0.8469, 0.8375
USD/CAD 1.0831 1.0893, 1.0790
NZD/USD 0.6867 0.6892, 0.6840
EUR/ JPY 134.47 135.00, 134.03
EUR/ GBP 0.8813 0.8829, 0.8774
GBP/ JPY 152.54 153.61, 151.96
CHF/ JPY 88.58 88.91, 88.20

Support Resistance Support Resistance

EUR/ USD USD/ JPY

L1. 1.3780 1.4295 90.05 98.85
L2. 1.3605 1.4630 88.60 101.65
L3. 1.3400 1.5105 87.10 105.05

GBP/ USD USD/ CHF

L1. 1.5845 1.6495 1.0510 1.1165
L2. 1.5690 1.6740 1.0275 1.1270
L3. 1.5440 1.6830 0.9750 1.1555

AUD/ USD USD/ CAD

L1. 0.7715 0.8250 1.1340 1.1920
L2. 0.7440 0.8555 1.1130 1.2190
L3. 0.7165 0.9050 1.0725 1.2520

NZD/ USD EUR/ JPY

L1. 0.6190 0.6665 125.65 134.50
L2. 0.6020 0.6945 121.70 139.80
L3. 0.5655 0.7760 118.50 141.50

EUR/ GBP EUR/ CHF

L1. 0.8320 0.8770 1.4905 1.5380
L2. 0.7870 0.9080 1.4670 1.5580
L3. 0.7590 0.9355 1.4420 1.5880

GBP/ JPY CHF/ JPY

L1. 146.10 157.75 81.55 93.55
L2. 142.05 160.30 79.20 97.90
L3. 135.70 167.30 75.40 105.05

SCHEDULE

Wednesday, 26 August 2009
all times GMT
(last release in parentheses)

0030 Australia Q2 construction work done
0100 Australia August DEWR skilled vacancies (-1.7% m/m)
0500 Japan August small business confidence (41.1)
0800 Germany August Ifo business sentiment, expectations (90.4)
0800 Germany August Ifo, business climate (87.3)
0800 Germany August Ifo, current assessment (84.3)
1100 US MBA mortgage applications (5.6%)
1230 US July durable goods orders (-2.5%)
1230 US July durable goods orders, ex-transportation (1.1%)
1400 US July new home sales (384,000)
1400 US July new home sales (11.0% m/m
1600 France July total jobseekers
1600 US Federal Reserve Bank of Atlanta President Lockhart speaks
2245 NZ July trade balance

Thursday, 27 August 2009
all times GMT
(last release in parentheses)

N/A Eurozone August Ifo business climate survey
N/A Germany August consumer price index (0.0% m/m)
N/A Germany August consumer price index (-0.5% y/y)
N/A Germany August CPI, harmonized (-0.1% m/m)
N/A Germany August CPI, harmonized (-0.7% y/y)
0000 Australia June leading index (-0.1%)
0130 Australia Q2 private capital expenditure (-8.9%)
0610 Germany September GfK consumer confidence survey (3.5)
0800 Italy August PMI, retail (45.6)
0800 France August PMI, retail (46.0)
0800 Germany August PMI, retail (49.8)
0800 Eurozone August PMI, retail (47.3)
0800 Eurozone July M3 money supply (3.5% y/y)
0830 UK Q2 total business investment (-7.6% q/q)
0830 UK Q2 total business investment (-9.7% y/y)
1000 UK CBI quarterly distributive trades (-17)
1230 US Q2 gross domestic product, annualized (-1.0%0
1230 US Q2 personal consumption expenditure, core (2.0% q/q)
1230 US Q2 gross domestic product price index (0.2%)
1230 US Weekly initial jobless claims (576,000)
1230 US Continuing jobless claims (6.241 million)
2100 US Federal Reserve Bank of St. Louis President Bullard speaks
2245 NZ July building permits (-9.5% m/m)
2301 UK August GfK consumer confidence (-25)
2315 Japan August PMI, manufacturing (50.4)
2330 Japan July jobless rate (5.4%)
2330 Japan July household spending (0.2% y/y)
2330 Japan August Tokyo-area consumer price index (-1.8% y/y)
2330 Japan August Tokyo-area CPI, ex-food, energy (-1.1% y/y)
2330 Japan July national consumer price index (-1.8% y/y)
2330 Japan July national CPI, ex-food, energy (-0.7% y/y)

Friday, 28 August 2009
all times GMT
(last release in parentheses)

0300 NZ July M3 money supply (2.7% y/y)
0830 UK Q2 gross domestic product (-0.8% q/q)
0830 UK Q2 gross domestic product (-5.6% y/y)
0900 Italy July producer price index
0900 Eurozone August economic confidence (76.0)
0900 Eurozone August business climate indicator (-2.71)
0900 Eurozone August consumer confidence (-23)
0900 Eurozone August industrial confidence (-30)
0900 Eurozone August services confidence (-18)
0930 CH August KOF leading indicator (-0.99)
1230 US July personal income (-1.3%)
1230 US July personal spending (0.4%)
1230 US July CPE deflator (-0.4% y/y)
1230 US July CPE, core (0.2% m/m)
1230 US July PCE, core (1.5% y/y)
1230 Canada Q2 current account (-C$ 9.1 billion)
1230 Canada July industrial product prices (0.7% m/m)
1230 Canada July raw materials price index (6.2% m/m)
1400 US August University of Michigan consumer sentiment (63.2)

DISCLAIMER: GCI’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

Day trading system

Learn how to trade futures

Swiss franc strengthens, british pound moves lower, and yen appreciates

2009-08-28T07:47:00.000-07:00

€
The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4220 level and was capped around the $1.4280 level. U.S. equity markets were pinched lower as traders continue to speculate the Chinese government may try to slow its industrial sector, probably to the detriment of global growth. Richmond Fed President Lacker hawkishly said the Fed may not need to purchase the entire US$ 1.25 trillion in mortgage-backed securities it has been authorized to purchase by the end of the year. Data released in the U.S. today saw second quarter gross domestic product decline an annualized 1.0%, unchanged from the previous estimate, while the second quarter GDP price index fell to 0.0% from 0.2%. Additionally, core personal consumption expenditures were unchanged at 2.0%, matching forecasts. Other data released today saw weekly initial jobless claims fall to 570,000 from a revised 580,000 while continuing jobless claims printed at 6.133 million, down from 6.252 million. This week’s U.S. economic data have added to the perception that the U.S. economy has likely bottomed out, though some bears are quick to note that the impact from the pending commercial real estate crisis has not been fully discounted by markets. The Federal Reserve is seeking a delay in the disclosure of the identity of companies that received funds from its emergency lending programs. In eurozone news, GfK reported German September sentiment improved to 3.7 from 3.4 in August. Also, Germany’s inflation rose unexpectedly improved to 0% in August on a harmonized basis after declining an annualized 0.7% in July. Other data released today saw loan growth to private sector borrowers in the eurozone decelerate significantly, off 0.4% m/m. Additionally, the ECB reported its annual M3 money supply indicator grew 0.3% last month. ECB policymakers this week have been quite cautious in their assessments of the economy, noting it is unlikely they’ll move to unwind their monetary stimuli anytime soon. ECB rate-setters will next convene on 3 September and are unlikely to change monetary policy at that time. Euro bids are cited around the US$ 1.3900 figure.

¥/ CNY
The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥93.35 level and was capped around the ¥94.30 level. The yen strengthened across the board as traders were loath to assume too much risk during a period of decreased market liquidity. Vice finance minister Tango reported G20 central bankers and finance ministers will discuss the global economy and regulation of the financial markets when officials convene in London next week. Ongoing concerns that China will curb excess growth in the industrial sector continue to result in yen weakness. China remains a major engine of global growth and a weakening in industrial activity could precipitate slower global growth, thereby decreasing demand for higher-yielding assets. The repatriation of overseas yen assets back to Japan is also benefiting the yen. On the political front, Democratic Party of Japan leader Yukio Hatoyama published an editorial that suggested Japan should work with other Asian countries to create a single regional currency “and aspire to move toward regional currency integration.” It is likely that Hatoyama will become the next prime minister on 30 August if his Democratic Party of Japan defeats the long-incumbent Liberal Democratic Party. There is growing speculation the Bank of Japan may extend its forecast for the end of deflation into early 2012 from early 2011, and this suggests the central bank will keep its ultra-easy monetary policy unchanged from quite some time. The Nikkei 225 stock index lost 1.56% to close at ¥10,473.97. U.S. dollar offers are cited around the ¥104.15 level. The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥132.90 level and was capped around the ¥134.45 level. The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥151.05 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥87.30 level. In Chinese news, the U.S. dollar gained ground vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8273 in the over-the-counter market, up from CNY 6.8266. Chinese Premier Wen this week said the markets need to avoid being “blindly optimistic” about the global economic recovery and added China must maintain its “moderately loose” monetary policy and “active” fiscal policy. PBoC has reported it will ensure “reasonable and ample” liquidity.
₤
The British pound moved lower vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.6155 level and was capped around the $ 1.6245 level. Cable reached its lowest level since 13 July. Bank of England Deputy Governor Bean reported it may take years to assess the efficacy of the central bank’s ₤175 billion asset purchasing program on account of “transmission lags.” Bean added the impact of the bond purchase program has been “moderately encouraging.” Cable offers are cited around the US$ 1.6355 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.8820 level and was supported around the ₤0.8770 level.
CHF
The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0660 level and was capped around the CHF 1.0705 level. UBS reported buying back assets from the Swiss National Bank is not an “immediate concern.” Swiss National Bank member Jordan this week reported it “isn’t time yet” to reverse its expansionary monetary policy, adding interest rates “will remain low.” He also verbally intervened against further franc strength, saying it will be prevented “resolutely.” U.S. dollar offers are cited around the CHF 1.0790 level. The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5240 level while the British pound moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.7255 level.

Day trading system

Learn how to trade futures

Europe could be rolling out of a recession, learn to day trade

2009-08-28T07:00:00.001-07:00

The euro rose, headed for its first two-month advance against the dollar since March 2008, on growing evidence Europe is emerging from its worst recession. The 16-nation currency gained for an eighth day versus the pound, its longest streak in four years, before a European report forecast to show business and consumer confidence rose to the highest level in 10 months.
The yen fell against all 16 major counterparts after Japanese government reports showed unemployment rose to a record and consumer prices slumped. Japan’s opposition party may win elections on Aug. 30, polls show, halting the ruling party’s half-century grip on power.
The euro rose to $1.4359 as of 6:30 a.m. in London from $1.4341 in New York yesterday, when it reached $1.4406, the highest level since Aug. 7. The currency has advanced 0.7 percent this month. It climbed to 134.56 yen from 134.14 yen, and strengthened to 88.25 British pence from 88.07 pence.
The yen fell to 93.71 per dollar from 93.52 yesterday. It weakened to 78.64 per Australian dollar from 78.48, and traded at 64.34 versus New Zealand's dollar from 64.28.

Day trading system

Learn how to trade futures

2009-08-05T06:31:00.000-07:00

Canada's currency dropped from near the highest level in 10 months as Finance Minister Jim Flaherty said he is concerned about its "rapid" appreciation and said there are steps the central bank could take to damp its rise. The currency weakened 0.6 percent to C$1.0726 per U.S. dollar at 5 p.m. in Toronto, from C$1.0658 yesterday, when it gained 1.1 percent, the most in almost three weeks. It touched C$1.0633 earlier today, the strongest since Oct. 2. One Canadian dollar buys 93.23 U.S. cents.

The yen and the dollar rose after Lloyds Banking Group Plc posted a first-half loss and increased the size of bad-debt provisions, boosting demand for the safety of the Japanese and U.S. currencies.

The pound fell for the first time in six days against the yen after London-based Lloyds said its total impairments in the first half were "significantly" higher at 13.4 billion pounds ($22.7 billion). The yen gained for a second day against the euro as Asian shares dropped and on speculation Japanese exporters took advantage of the yen’s 1.3 percent drop versus Europe's currency this month to bring home funds.

Japan's currency rose to 94.93 per dollar as of 7:38 a.m. in London from 95.23 yesterday in New York. It advanced to 136.51 per euro from 137.21. The dollar climbed to $1.4378 per euro from $1.4408. The pound dropped to $1.6912 from $1.6939, and fell to 160.84 yen from 161.31 yen.

Day trading system

Learn how to trade futures

Forex trades, learn to trade currency, jpy trade and gbp trade

2009-08-04T09:30:00.000-07:00

The yen rose as traders scaled back bets on higher-yielding currencies and stocks snapped three days of gains, fueling demand for the Japanese currency as a haven.
The yen advanced most against the Swedish krona and South African rand as Standard Chartered Plc said it plans to raise $1.69 billion in a share sale and Yamaha Motor Co., the world’s second-largest maker of motor bikes, forecast a wider loss. The euro weakened versus the dollar after a report showed producer prices fell at a record pace. The Australian dollar fell after the Reserve Bank of Australia kept interest rates at the lowest level in half a century. The yen also gained on speculation Japanese exporters are taking advantage of the currency’s decline against the euro and the dollar to bring home income from abroad. The yen has dropped 7.1 percent compared with the euro this year and 4.2 percent versus the dollar.
The yen strengthened to 136.38 per euro as of 6:24 a.m. in New York, from 137.31 yesterday, and to 94.71 per dollar, from 95.26. The euro traded at $1.4396, from $1.4412 yesterday, when it rose to $1.4445, the strongest since Dec. 18.
Europe's Dow Jones Stoxx 600 Index fell 0.8 percent after trading at its highest level relative to profits since 2003. The MSCI World Index declined 0.2 percent.

Here are yesterday's positions.

Day trading system

Learn how to trade futures

Forex high lights Yen decline, Pound takes off on economic news

2009-08-03T09:16:00.000-07:00

2009-07-15T08:04:00.000-07:00

The yen and the dollar weakened against the euro before a U.S. report today that economists said will show the contraction in industrial production slowed, damping demand for safer assets. The yen and the dollar also weakened after Intel Corp.'s revenue forecast beat estimates yesterday and Goldman Sachs Group Inc. reported higher-than-expected earnings, damping demand for safer assets.

Asian currencies strengthened, as regional stocks gained and foreign- exchange and equity-market volatility declined, spurring investors to buy higher-yielding assets. However, the yen declined against 13 of the 16 major currencies after the Bank of Japan lowered its forecasts for the economy, reducing the appeal of the currency. Bank of Japan forecast the economy will shrink 3.4 percent in the year ending March 2010, more than the 3.1 percent predicted in April. That would outstrip last fiscal year's 3.3 percent contraction as the worst in the postwar era. GDP will increase 1 percent in the following fiscal year, less than the 1.2 percent predicted three months ago.

The yen declined to 131.37 per euro as of 7:50 a.m. in London from 130.62 yesterday in New York, after earlier dropping to 131.40, the lowest since July 8. The dollar weakened to $1.4060 per euro from $1.3967. The yen was at 93.42 versus the dollar from 93.50.

The pound rose against the dollar, climbing 0.3 percent $1.6355 as of 6:59 a.m. in London. The British currency was little changed versus the euro, trading at 85.60 pence, from 85.62 pence yesterday.

Day trading system

Learn how to trade futures

Yen is up, learn to trade forex

2009-07-13T10:36:00.001-07:00

The yen and the dollar strengthened for a second day against the euro as Asian stocks declined, increasing demand for the relative safety of the Japanese and U.S. currencies.

The yen rose against all 16 most-traded currencies after the Sunday Times reported Lloyds Banking Group Plc may announce further losses of as much as 13 billion pounds ($20.9 billion) and the Wall Street Journal said major U.S. airlines may have to file for bankruptcy. U.S. carriers such as AMR Corp.’s American Airlines and Delta Air Lines Inc. may face the prospect of having to file for Chapter 11 bankruptcy by the winter if liquidity does not improve, the WSJ reported today, citing analysts.

The yen rose to 128.18 per euro as of 7:46 a.m. in London from 129.00 in New York last week, when it reached 127.02, the strongest since May 18. The dollar advanced to $1.3910 per euro from $1.3936. The yen advanced to 92.10 per dollar from 92.54.

The pound fell for a second day against the dollar and the euro after the Sunday Times newspaper, without saying where it got the information, said yesterday Lloyds will reveal the losses in its first-half results scheduled to be reported in three weeks. The British currency slid 0.6 percent to $1.6114 as of 6:28 a.m. in London, and weakened 0.5 percent to 86.38 pence per euro.

Day trading system

Learn how to trade futures

learn currency trading best forex course July 10 live trade room

2009-07-10T09:56:00.000-07:00

The euro fell, heading for its worst week against the yen in two months, after Handelsblatt reported the International Monetary Fund is discussing aid programs with at least 10 Eastern European governments.

Europe's currency weakened versus 12 of its 16 major counterparts after the German newspaper cited unidentified IMF officials as saying the countries applying for loans for the first time included Bulgaria, Croatia and Macedonia.

The yen and the dollar rose against most major currencies as U.S. stock futures fell, boosting demand for safer assets.

The euro declined to 129.09 yen as of 7:58 a.m. in London from 130.36 yesterday in New York, set for a 3.8 percent loss this week, the biggest since the period ended May 15. Europe’s currency dropped to $1.3947 from $1.4020. Japan's currency rose to 92.64 per dollar from 92.99.

Canada's dollar rose from near a seven-week low as advances by commodities and stocks boosted investor demand for higher-yielding assets such as commodity- linked currencies. Canada’s currency strengthened 0.5 percent to C$1.1622 per U.S. dollar at 4:57 p.m. in Toronto, from C$1.1675 yesterday, when it touched C$1.1725, the weakest level since May 18. One Canadian dollar buys 86.05 U.S. cents.

Gold traded little changed in Asia, headed for a second weekly decline after falling to a two-month low this week as the dollar rallied, curbing demand for the metal as a hedge against accelerating consumer prices. Gold for immediate delivery traded at $913.72 an ounce at 2:31 p.m. in Singapore, down 2 percent this week. August delivery futures on the Comex division of the New York Mercantile Exchange were down 0.4 percent at $913.

Day trading system

Learn how to trade futures

learn day trading currencies July 9 live currency trading room

2009-07-09T08:52:00.000-07:00

The yen fell from a four-month high against the dollar on speculation Japanese importers sold the currency and as technical charts signaled its 3 percent gain in the past five days was excessive.

The yen weakened versus all of its 16 major counterparts after a Japanese government official said excessive currency movements were undesirable, spurring speculation the nation may eventually intervene to limit its gains. The yen and the dollar also fell as U.S. stock futures advanced and the International Monetary Fund said the global recovery next year will be stronger than it forecast in April, encouraging investors to buy higher-yielding assets.

The yen declined to 93.19 versus the dollar as of 7:40 a.m. in London from 92.88 in New York yesterday, when it strengthened to 91.81, the highest level since Feb. 17. Japan's currency fell to 129.85 per euro from 128.95. The euro advanced to $1.3927 from $1.3884.

Crude oil rebounded from a seven-week low as traders took the view that the decline in prices during the longest losing streak this year was overdone. Oil snapped a six-day slump as traders bought contracts based on technical indicators. Crude has fallen below $62.55 a barrel yesterday, the lower resistance level of the Bollinger Band, indicating it was oversold. Crude oil for August delivery gained as much as 85 cents, or 1.4 percent, to $60.99 a barrel on the New York Mercantile Exchange, and traded at $60.81 at 3:30 p.m. Singapore time. Futures touched $60.01 yesterday before closing down 4.4

Day trading system

Learn how to trade futures

Learn how to trade Forex Currency Trading Charts,live trades July 8

2009-07-08T09:27:00.000-07:00

The yen strengthened to a six-week high against the euro and the dollar as Asian stocks fell and Japanese machinery orders unexpectedly declined, adding to signs the global recession is far from over.

The yen rose against all of the 16 major currencies for a second day on speculation the worldwide slump will sap corporate earnings, increasing demand for safer assets. The dollar fell for a third day against the yen on concern the greenback's role as the world's reserve currency will be questioned at a Group of Eight meeting starting today.

The yen rose to 130.97 per euro as of 7:48 a.m. in London, from 132.13 yesterday in New York. It earlier climbed to 130.42, the strongest since May 21. Japan’s currency advanced to 94.25 per dollar, after reaching 94.08, the highest since May 22. The euro fell to $1.3893 from $1.3924. The pound weakened 0.3 percent to $1.6084.

Crude oil fell, poised for the longest losing streak since December, as equities slumped and an industry report showed an increase in U.S. fuel inventories. Crude oil for August delivery fell as much as $1.06, or 1.7 percent, to $61.87 a barrel on the New York Mercantile Exchange, the lowest intraday price since May 26. Oil was at $62.19 a barrel at 2:51 p.m. Singapore time.

Day trading system

Learn how to trade futures

learn forex day trading July 7 live trading room

2009-07-07T08:26:00.000-07:00

The yen and the dollar rose against the euro on speculation European finance ministers will today reiterate the global recession is far from over, spurring demand for the relative safety of the U.S. and Japanese currencies.

The yen advanced versus all 16 of the most-traded currencies as Asian stocks declined, prompting investors to reduce holdings of higher-yielding assets. Japan’s currency approached a two-week high against the euro after Luxembourg Finance Minister Jean-Claude Juncker said at a meeting of euro- area counterparts in Brussels yesterday that "we are still in the middle" of the worldwide financial crisis.

Juncker's comments in Brussels yesterday came after the Organization for Economic Cooperation and Development said last month signs of a recovery in the 16-nation euro area were not clear. The OECD cut its 2009 forecast for the region’s economy to a contraction of 4.8 percent, from a decline of 4.1 percent projected in March, and said the ECB should lower its benchmark interest rate from 1 percent.

The yen rose to 132.41 per euro as of 7:42 a.m. in London from 133.34 yesterday in New York, when it advanced to 131.74, the highest since June 23. The dollar climbed to $1.3921 per euro from $1.3984, after yesterday reaching $1.3877, also the strongest since June 23. The dollar bought 95.10 yen from 95.35.

The pound declined to $1.6190 as of 7:46 a.m. in London, from $1.6286 yesterday, the first time it dropped for four consecutive days since April 10. It weakened to 85.97 pence per euro, from 85.85 pence.

Day trading system

Learn how to trade futures

Forex trading dollar climbs euro tumbles July 2

2009-07-02T12:45:00.000-07:00

The dollar strengthened after a Chinese Foreign Ministry official said he hoped the greenback would remain stable and was "not aware" of a plan to discuss a new reserve currency at next week's Group of Eight meeting.

The dollar climbed from a three-week low versus the euro after falling yesterday when Reuters reported that China had asked to debate proposals for a new global reserve currency at the G-8 summit in Italy. The yen rose from near a two-week low against the euro on speculation a U.S. report today will show the world's biggest economy lost jobs for an 18th month, spurring demand for the safety of Japan's currency.

The dollar climbed to $1.4119 per euro as of 7:40 a.m. in London from $1.4142 in New York yesterday, when it declined to $1.4201, the lowest since June 5. The U.S. currency was at 96.66 yen from 96.65 yen. The yen rose to 136.44 per euro from 136.70 yesterday, when it fell to 136.89, the weakest since June 15.

The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners including the euro, yen and pound, advanced 0.2 percent to 79.764.

Day trading system

Learn how to trade futures

Yen stengthens, dollar weakens swiss franc down June 30

2009-06-30T10:31:00.000-07:00

The dollar weakened for a fourth day against the euro as European and Asian stocks advanced on speculation the global recession is abating, damping demand for the U.S. currency as a refuge. The dollar declined against 14 of the 16 most-traded currencies before a U.S. report that economists say will show consumer confidence rose to a nine-month high, giving investors more confidence to buy higher-yielding assets.

The yen rose from a two-week low against the euro and gained versus the dollar on speculation investors reduced bets Japan's currency will weaken before the Bank of Japan's quarterly Tankan survey tomorrow.

The dollar dropped to $1.4106 per euro as of 8:44 a.m. in London from $1.4083 in New York yesterday. The U.S. currency declined to $1.6686 per pound from $1.6567, after sliding to $1.6743, the weakest since Oct. 21.

The yen strengthened to 134.68 per euro from 135.31, after falling to 135.96 earlier, the lowest level since June 15. Japan’s currency climbed to 95.46 per dollar from 96.06.

The Swiss franc slid for a second day against the euro. The franc fell 0.1 percent to 1.5260 per euro as of 6:17 a.m. in London. It rose 0.1 percent to 1.0811 per dollar.

Day trading system

Learn how to trade futures

learn how to trade forex June 27 Live currency trading room

2009-06-26T23:49:00.001-07:00

The US dollar fell, heading for its biggest weekly loss against the euro in a month, as European and Asian stocks rose and traders added to bets the Federal Reserve will keep interest rates low.

The dollar slid against 13 of the 16 major currencies as Dallas Fed President Richard Fisher may today elaborate on the central bank's statement this week that the benchmark rate will stay at "exceptionally low levels." Australia's dollar climbed for a fourth day against the greenback and the yen as commodity prices rose, encouraging demand for the nation’s assets. New Zealand's dollar fell after the government said the economy shrank at a faster pace than predicted by economists.

The dollar declined to $1.4034 per euro as of 9:38 a.m. in London, from $1.3988 yesterday in New York, extending its loss this week to 0.7 percent. The yen weakened to 134.57 per euro, from 134.22. The U.S. currency traded little changed at 95.90 yen, from 95.95 yen.

Australia's dollar rose 0.3 percent to 80.46 U.S. cents and climbed 0.2 percent to 77.17 yen. The Norwegian krone, the world's fifth-largest oil exporter, rose 0.4 percent to 6.4466 per dollar. The New Zealand currency slipped 0.3 percent to 64.35 U.S. cents.

Day trading system

Learn how to trade futures

learn how to trade forex June 25 Live currency trading room

2009-06-25T10:04:00.000-07:00

The Swiss National Bank is attempting to put a "line in the sand" with its first intervention in the foreign-exchange market in more than a decade after previous attempts to weaken the franc failed. Foreign-exchange traders said the Zurich-based central bank intervened twice yesterday, driving the franc down against more than 150 currencies. It fell the most in three months versus the dollar and euro. The franc strengthened as much as 0.3 percent against the U.S. and European currencies today.

The Swiss franc was however little changed against the euro and rose versus the dollar. The Swiss currency traded at 1.5299 per euro as of 7:22 a.m. in Zurich, from 1.5294 yesterday, when it weakened 1.8 percent. The franc strengthened to 1.0955 against the dollar, from 1.0979.

The yen fell the most in three weeks against the euro after a government report showed Japanese investors bought more securities abroad than they sold for a seventh week.

London from 133.23 in New York yesterday, the biggest drop since June 1. It fell to 96.31 per dollar from 95.66. Japan’s currency slid 1 percent to 76.97 versus Australia's dollar and weakened 0.9 percent to 61.83 per New Zealand dollar. The U.S. currency bought $1.3976 per euro from $1.3930.

Day trading system

Learn how to trade futures

Learn how to trade Forex Currency Trading Charts,live trades June 23

2009-06-24T12:07:00.001-07:00

The yen rose to a one-month high against the euro as Asian stocks slumped on concern the global recession will be prolonged, spurring demand for the relative safety of Japan's currency. The yen strengthened against all 16 most-traded currencies before a U.S. report tomorrow that economists say will show durable-goods orders declined in May. Japan's currency also gained for a third day against the dollar after the World Bank yesterday forecast the global recession will be deeper than it earlier projected.

The yen advanced to 131.84 per euro as of 7:31 a.m. in London from 132.93 yesterday in New York. It earlier reached 131.43, the strongest level since May 22. The yen climbed to 95.15 per dollar from 95.87, after rising to 94.99, the highest since June 1. The dollar traded at $1.3864 per euro from $1.3865.

Canada's dollar fell to the lowest level in more than a month against its U.S. counterpart on speculation recovery from the first global recession since World War II will take longer than some forecast. The Canadian currency, known as the loonie, dropped 1.6 percent to C$1.1537 per U.S. dollar at 4:35 p.m. in Toronto, from C$1.1352 on June 19. It touched C$1.1556, the weakest level since May 20, when it reached C$1.1584. One Canadian dollar buys 86.68 U.S. cents.

Gold dropped for a second day in Asia as some investors sold the metal for cash after global equities slumped on concern the global economic recovery will falter. Gold for immediate delivery was down 0.7 percent at $916.60 an ounce at 1:30 p.m. in Singapore after earlier touching $913.24, the lowest since May 12.

ay trading system

Learn how to trade futures

Learn how to trade Forex Currency Trading Charts,live trades june 24

2009-06-24T11:36:00.000-07:00

The yen weakened for a second day against the euro after a Japanese report showed the decline in exports accelerated, boosting expectations the nation's investors will funnel their summer bonuses overseas.

The yen also declined against the dollar as the MSCI World Index snapped two days of declines, spurring demand for higher- yielding assets. The dollar dropped to its lowest level in more than a week against the euro on speculation the Federal Reserve will signal today it will keep interest rates at a record low for longer to revive economic growth.

The yen weakened to 134.61 per euro as of 8:32 a.m. in London from 134.04 in New York yesterday, when it appreciated to 131.43, it strongest level since May 22. Japan's currency dropped to 95.43 per dollar from 95.22. The dollar fell to $1.4109 per euro from $1.4077 yesterday, after earlier depreciating to $1.4138, the weakest since June 11.

Gold, little changed in early Asian trading, may rise as a weaker dollar revives demand for the precious metal as an alternative investment. Silver gained. Bullion for immediate delivery traded at $925.54 an ounce at 8:21 a.m. Singapore time. Gold for August delivery were also little changed at $925.70 on the New York Mercantile Exchange's Comex division.

Day trading system

Learn how to trade futures

learn day trading currencies june 22

2009-06-22T09:14:00.001-07:00

The yen and the dollar gained as concern the political tension in Iran is worsening and a World Bank report saying the global recession will be deeper than earlier predicted fanned demand for the currencies as a refuge. The yen typically strengthens in times of financial turmoil as Japan's trade surplus makes the currency attractive as it means the nation does not have to rely on overseas lenders. The dollar benefits as it is the World's reserve currency. The World Bank forecast in a report that the world economy will contract 2.9 percent this year, compared with a previous estimate of a 1.7 percent decline.

Iran's government detained five members of former President Ali Akbar Hashemi Rafsanjani's family and said at least 17 people had been killed during protests over this month’s disputed election.

The yen advanced to 133.24 per euro as of 7:49 a.m. in London from 134.18 in New York last week, after rising as high as 133.02. Japan's currency strengthened to 96.13 per dollar from 96.27. The dollar climbed to $1.3855 per euro from $1.3937.

Crude oil was little changed in New York after falling on concerns that U.S. gasoline stockpiles will increase because of weak demand during the recession. Oil traded below $70 a barrel for a second day after gains in refinery output amid lower consumption pulled motor fuel futures down by 5.2 percent. Gasoline inventories in the U.S., the world's biggest oil consumer, climbed a larger-than-expected 3.39 million barrels in the week ended June 12, the Energy Department said last week.

Day trading system

Learn how to trade futures

learn how to trade forex June 19 Live currency trading room

2009-06-19T10:02:00.000-07:00

Resistance & support

EURUSD	GBPUSD	USDJPY	USDCHF
1.4060	1.6620	97.40	1.0980
1.3980	1.6480	97.00	1.0920
1.3920	1.6330	96.30	1.0840
1.3840	1.6200	95.90	1.0780
1.3790	1.6050	95.20	1.0700

Economic calendar

Date	Time (GMT)	Currency	Impact		Actual	Forecast	Previous
Fri Jun 19	6:00am	EUR		German PPI m/m	0.0%	-0.1%	-1.4%
	8:00am	EUR		Italian Unemployment Rate		7.3%	6.9%
	12:30pm	CAD		Core Retail Sales m/m		-0.1%	-0.2%
	12:30pm	CAD		Retail Sales m/m		0.0%	0.3%
	1:45pm	CHF		Gov Board Member Jordan Speaks

Day trading system

Learn how to trade futures

learn how to trade forex June 19 Live currency trading room

2009-06-19T10:00:00.000-07:00

The euro rose the most in two weeks against the yen after European Union leaders said the 16-nation region is on course for a "sustainable economic recovery." The yen still headed for weekly gains versus the dollar and the euro after U.S. reports earlier this week showed confidence among homebuilders fell unexpectedly and industrial production dropped for a seventh month, raising concerns any recovery by the world's largest economy will take time.

Europe's currency also gained against the dollar after the leaders also said "further budgetary stimulus would not be warranted," in the draft of a statement to be approved today, signaling the recession is easing.

The Australian dollar, the South African Rand and the Norwegian krone strengthened the most against the yen as Asian stocks headed for their biggest advance in a week, spurring demand for higher-yielding assets.

The euro advanced 0.6 percent to 135.00 yen as of 7:34 a.m. in London from 134.17 in New York yesterday, the biggest gain since June 5. The European currency climbed to $1.3923 from $1.3900. The yen fell to 96.96 per dollar from 96.47. It dropped 1.1 percent to 77.87 against Australia’s dollar and lost 0.6 percent to 11.8939 to the rand.

Gold, little changed, headed for the longest weekly declining streak in two months as the dollar rallied, eroding demand for the metal as a haven investment. Gold for immediate delivery was at $933.40 an ounce at 3:01 p.m. in Singapore, 0.6 percent lower this week. The metal is heading for a third weekly drop, the longest declining streak since April 17.

Day trading system

Learn how to trade futures

Resistance and Support, news for june 18 currency trading

2009-06-18T08:31:00.000-07:00

Resistance & support

EURUSD	GBPUSD	USDJPY	USDCHF
1.4090	1.6630	97.20	1.0990
1.4020	1.6510	96.40	1.0890
1.3910	1.6370	96.00	1.0830
1.3840	1.6250	95.20	1.0730
1.3740	1.6110	94.70	1.0670

Economic calendar

Date	Time (GMT)	Currency	Impact		Actual	Forecast	Previous
Thu Jun 18	1:30am	AUD		RBA Monthly Bulletin
	7:30am	CHF		Libor Rate	0.25%	0.25%	0.25%
	7:30am	CHF		SNB Monetary Policy Assessment
	7:30am	CHF		SNB Press Conference
	7:30am	CHF		SNB Financial Stability Report
	8:00am	EUR		Italian Trade Balance	-0.28B	-0.02B	0.08B
	8:30am	GBP		Retail Sales m/m	-0.6%	0.4%	0.9%
	8:30am	GBP		Public Sector Net Borrowing	19.9B	18.9B	8.5B
	8:30am	GBP		Prelim M4 Money Supply m/m	0.2%	0.7%	0.1%
	10:00am	GBP		CBI Industrial Order Expectations		-45	-56
	11:00am	CAD		Core CPI m/m		0.1%	0.1%
	11:00am	CAD		CPI m/m		0.4%	-0.1%
	12:30pm	USD		Unemployment Claims		608K	601K
	1:30pm	USD		Treasury Sec Geithner Speaks
	2:00pm	USD		Philly Fed Manufacturing Index		-17.6	-22.6
	2:00pm	USD		CB Leading Index m/m		0.8%	1.0%
	2:30pm	USD		Natural Gas Storage		104B	106B
	5:30pm	USD		Treasury Sec Geithner Speaks
	6:15pm	CAD		BOC Gov Carney Speaks
	7:30pm	CAD		BOC Gov Carney Speaks
	11:50pm	JPY		Monetary Policy Meeting Minutes

Day trading system

Learn how to trade futures

China is growing, stocks as refuge? Investor set up.

2009-06-18T08:29:00.000-07:00

The yen and the dollar fell after the World Bank raised its growth forecast for China, fueling gains in stocks and sapping demand for the currencies as a refuge from the economic slump. The World Bank said the Chinese economy will expand 7.2 percent this year, up from a previous forecast of 6.5 percent. The dollar also dropped as traders pared bets that the Federal Reserve will increase interest rates by year-end. The Swiss franc weakened after the nation's central bank said it will act "decisively" to curb the currency's gains.

The yen weakened to 133.67 per euro as of 8:54 a.m. in London, from 133.50 yesterday in New York. It was at 95.84 per dollar, from 95.75. The dollar traded at $1.3946 per euro, from $1.3942. The U.K. pound advanced against the dollar to trade 0.3 percent higher at $1.6454 as of 8:10 a.m. in London.

The World Bank joins Goldman Sachs Group Inc., Morgan Stanley and UBS AG in raising growth forecasts for China after a 4 trillion-yuan ($585 billion) stimulus package triggered record loans and surging investment in the world's biggest contributor to growth last year.

Traders cut bets the Fed will raise its target rate for overnight loans this year before a U.S. report that may show the Philadelphia region's manufacturing shrank for a ninth month. The odds of a rate increase dropped to 45 percent, from 64 percent odds a week ago, Fed fund futures trading showed.

Day trading system

Learn how to trade futures

learn day trading currencies june 17

2009-06-17T07:51:00.000-07:00

The yen declined from a three-week high against the euro and weakened versus the dollar as speculation the global economy is close to bottoming revived demand for higher-yielding assets.

Japan's currency fell versus all of the 16 major currencies after Japanese stocks rebounded, President Barack Obama said he is confident growth in the U.S. will begin "shortly" and the Bank of Japan raised its assessment of the economy. The dollar dropped against the euro after the leaders of Brazil, Russia, India and China yesterday called for a "more diversified" global monetary system.

The yen declined to 134.52 per euro as of 7:36 a.m. in London from 133.38 in New York yesterday, after earlier rising to 132.56, the highest level since May 28. Japan's currency dropped to 96.67 against the dollar from 96.38. The dollar weakened to $1.3920 per euro from $1.3837.

Crude oil rose above $71 a barrel in New York as investors sought commodities as a hedge against inflation after the dollar fell against the euro for a second day. Crude oil for July delivery climbed as much as 72 cents, or 1 percent, to $71.19 a barrel in electronic trading on the New York Mercantile Exchange. It was at $71.12 a barrel at 2:33 p.m. Singapore time. Futures earlier fell as much as 56 cents, or 0.8 percent, to $69.91 a barrel.

Day trading system

Learn how to trade futures

2009-06-09T10:46:00.000-07:00

The yen advanced from a one-month low against the dollar and gained versus the euro after Japanese reports showed bankruptcies declined and merchant confidence improved, spurring demand for the nation's assets.

The yen rose against 12 of the 16 most-traded currencies after Tokyo Shoko Research Ltd. said bankruptcies fell 6.7 percent from a year earlier. Australia’s dollar was the best performer of the major currencies on optimism U.S. reports on retail sales and consumer confidence this week will add to signs the global economy is improving, spurring demand for higher- yield currencies.

The pound fell a fourth day as U.K. Prime Minister Gordon Brown struggles to retain his party’s loyalty.

The yen gained to 98.53 per dollar as of 6:52 a.m. in London from 98.64 in New York on June 5 when it dropped to 98.89, the lowest level since May 8. The yen climbed to 137.64 per euro from 137.81. The dollar was at $1.3975 per euro from $1.3968. Australia’s dollar rose 0.5 percent to 79.73 U.S. cents. The pound dropped to $1.5924 from $1.5981.

Day trading system

Learn how to trade futures

learn to trade currencies forex June 5 live trade room

2009-06-05T08:26:00.000-07:00

The yen declined, heading for a third weekly loss against the euro, as Asian stocks advanced on speculation the worst of the financial crisis is over, spurring demand for higher-yielding assets.

The yen weakened against 11 of the 16 major currencies before a U.S. report today that may show employers cut fewer jobs last month, damping demand for the relative safety of Japan’s currency. The euro strengthened for a fourth day versus the British pound after European Central Bank President Jean-Claude Trichet said yesterday the region's economic performance will improve this year. The Australian and New Zealand dollars gained as commodity prices rose.

The yen fell to 137.37 per euro as of 7:21 a.m. in London, from 136.97 yesterday in New York, heading for a 1.7 percent drop this week. Japan’s currency slid to 96.76 per dollar from 96.58, set for a 1.5 percent weekly loss. The euro traded at $1.4199 from $1.4183. It climbed to $1.4338 on June 3, the strongest this year. The euro rose to 88.23 pence from 87.68.

Australia's dollar climbed 0.5 percent to 77.80 yen and gained 0.3 percent to 80.40 U.S. cents. New Zealand’s dollar climbed 0.4 percent to 61.49 yen. Australia benchmark interest rate is 3 percent and New Zealand’s is 2.5 percent, compared with 0.1 percent in Japan, luring investors to the South Pacific nation’s higher returns.

Day trading system

Learn how to trade futures

Learn to trade currencies forex June 4 day trading room

2009-06-04T14:49:00.000-07:00

The yen weakened for a second day versus the dollar and declined against the euro after a report showed Japanese investors increased purchases of overseas bonds to the most in a month. Japan's Ministry of Finance said local investors bought 982 billion yen ($10.2 billion) more overseas bonds than they sold last week.

The pound fell for a second day versus the dollar before the Bank of England announces its policy decision at noon in London. Governor Mervyn King’s forecasts last month showed it needs to spend 125 billion pounds ($204 billion) of newly printed money in U.K. debt markets to combat the recession.

The yen dropped to 136.59 per euro as of 7:34 a.m. in London, from 135.93 in New York yesterday, when it fell to 138.00, the weakest level since Oct. 20. The yen declined to 96.17 per dollar from 95.99. The U.S. currency fell to $1.4203 per euro from $1.4162 yesterday, when it slid to $1.4338, the lowest this year. The pound dropped to $1.6294 from $1.6317.

Gains in the euro against the dollar may be limited on speculation European Central Bank policy makers also meeting today will take further steps to keep down borrowing costs in the 16-nation region as optimism over the global recovery wanes.

Day trading system

Learn how to trade futures

learn to trade currencies, jpyusd june 3 ausie dollar

2009-06-03T13:27:00.000-07:00

The euro rose to a seven-month high against the yen after a report showed Australia's economy unexpectedly expanded last quarter, boosting demand for higher- yielding currencies.

Australia's dollar strengthened against all of the 16 most- traded currencies as Asian stocks rose after the report added to evidence the worst of the global recession may be over. The yen erased earlier gains after a Bank of Japan official signaled interest rates may stay low for some time. The Dollar Index traded close to the lowest level this year on concern the greenback will lose its role as the world’s reserve currency.

The euro rose to 137.87 yen as of 7:47 a.m. in London, from 136.97 yesterday in New York. It earlier climbed to 137.98 yen, the strongest level since Oct. 20. The European currency climbed to $1.4335 from $1.4303. Japan's currency dropped to 96.19 per dollar from 95.76.

The Australian currency gained 0.6 percent to 82.56 U.S. cents and rose 1 percent to 79.40 yen. It earlier reached 82.63 U.S. cents, the strongest level since Sept. 29.

The Dollar Index, used by the ICE to track the greenback against the euro, yen, pound, Swiss franc, Canadian dollar and Swedish krona, traded at 78.448 from 78.404 yesterday, when it fell to 77.334, the lowest since Dec. 18.

Day trading system

Learn how to trade futures

learn to trade forex currenies May 29 forex update

2009-05-29T06:59:00.000-07:00

The dollar fell, heading for the biggest monthly drop this year against the euro, on speculation gains in stocks spurred demand for higher-yielding assets.

The dollar also weakened versus 14 of the 16 most-traded currencies after South Korea said its national pension fund plans to hold fewer U.S. Treasuries relative to other assets. The yen advanced against the dollar after a Japanese report showed industrial production rose the most in 56 years, fueling optimism funds will flow back into the nation’s stocks. The Australian and New Zealand dollars advanced for a third month as rising commodity prices boosted demand for the currencies.

The dollar declined to $1.4005 per euro as of 7:16 a.m. in London from $1.3941 in New York yesterday, heading for a 5.6 percent loss this month, the most since December. The U.S. currency dropped to 96.70 yen from 96.85. The yen slid to 135.43 per euro from 135.04.

Australia's currency advanced to 79.26 U.S. cents from 78.40 cents yesterday, after reaching 79.28 cents, the strongest since Oct. 2. It has risen 9.2 percent this month, the most since 1985. New Zealand’s dollar climbed to 63.12 U.S. cents from 62.33 cents. It strengthened 10 percent this month.

Day trading system

Learn how to trade futures

US markets closed, Bank holiday lower volume, learn how to trade

2009-05-25T22:24:00.000-07:00

The euro approached the strongest level this year against the dollar on speculation European Central Bank council member Axel Weber will reiterate today that policy makers should refrain from further interest-rate cuts. Futures traders increased their bets to the most in 10 months that the euro will gain against the dollar, figures from the Washington-based Commodity Futures Trading Commission showed on May 22.

The yen weakened against the euro and the dollar after Yonhap News said North Korea launched a short-range missile, posing a threat to the region's security. North Korea’s official state media earlier said it also "successfully" tested a nuclear weapon underground.

The yen weakened to 133.38 per euro as of 3:05 p.m. in Tokyo from 132.67 in New York last week, after earlier rising as high as 132.07. Japan’s currency fell to 95.11 per dollar from 94.78. The dollar traded at $1.4004 per euro from $1.3998.

Due to bank holiday in the US and the UK, trading volume may be lower today.

Day trading system

Learn how to trade futures

Learn to trade forex US could loose the AAA rating like UK

2009-05-22T08:57:00.001-07:00

The dollar declined to a four-month low against the euro and weakened versus the yen on speculation the U.S. may lose its AAA credit rating. The dollar headed for its biggest weekly drop in two months versus the euro after Standard & Poor’s yesterday cut its outlook on the U.K.'s AAA credit rating, and Pacific Investment Management Co.'s co-chief investment officer Bill Gross said the same will happen to the U.S. "eventually."

The yen rose to a nine-week high versus the dollar after Japan's Finance Minister Kaoru Yosano said the government won’t intervene in the currency market and the Bank of Japan raised its economic assessment.

The dollar declined to $1.3959 per euro as of 7:44 a.m. in London, after dropping to $1.3971, the weakest since Jan. 2. The U.S. currency has slumped 3.3 percent this week, heading for the biggest loss since the five days to March 20.

The yen advanced to 94.07 per dollar, after reaching 93.87, the strongest level since March 19. Japan’s currency is heading for a 1.2 percent gain this week. The yen fell to 131.40 versus the euro from 131.15. Norway’s krone advanced 0.8 percent to 6.3393 per dollar, the biggest gain among major currencies versus the greenback.

Gold traded near the highest in two months, set for a third weekly increase, as the dollar fell against the euro, boosting the appeal of the precious metal as an alternative investment. Immediate-delivery gold was little changed at $952.45 an ounce at 12:27 p.m. in Singapore after touching $956.55 yesterday, the highest since March 23. The metal has climbed about 7.2 percent this month and is about 19 percent higher than this year’s low of $802.59 an ounce. Silver, which dropped 0.2 percent to $14.49 an ounce, is still up 3.5 percent this week.

Day trading system

Learn how to trade futures

learn how to trade forex May 21 live trade room currency

2009-05-21T09:27:00.000-07:00

The dollar fell to an eight-week low against the yen on speculation the U.S. Federal Reserve will boost purchases of assets to counter the global slump, increasing the supply of the U.S. currency.

The dollar weakened against 14 of the 16 most-traded currencies after the Fed projected a deeper recession, sapping demand for the U.S. currency as a refuge. New Zealand’s dollar rose for a fourth day after a government report showed immigration growth accelerated. The euro traded near a four- month high against the dollar before a European manufacturing and services report that may back the case for the region’s central bank to keep interest rates unchanged.

The U.S. currency declined to 94.71 yen as of 7:26 a.m. in London from 94.88 yesterday in New York. It earlier fell to 94.29, the lowest since March 20. Japan’s currency rose to 130.62 per euro from 130.77. The euro traded at $1.3789 from $1.3780 yesterday, when it reached $1.3830, the strongest level since Jan. 5.

The dollar fell as low as $1.5817 per pound, the weakest since Nov. 10, before trading at $1.5791 from $1.5755 yesterday. The New Zealand dollar rose to 60.96 U.S. cents from 60.58 cents.

Day trading system

Learn how to trade futures

Yen and dollar advances, learn how to trade currencies and learn to trade forex

2009-05-20T10:34:00.000-07:00

Gold may rise to a record, possibly driven higher by weakness in the dollar, should the precious metal first clearly hold above $950 an ounce. Gold, which tends to move in the opposite direction to the U.S. currency, reached a record $1,032.70 an ounce on March 17, 2008 and last rose to more than $950 an ounce on March 23. The precious metal traded today at $928.15 an ounce at 2:22 p.m. in Singapore, about 2.3 percent less than the $950 threshold.

The yen and the dollar advanced against higher-yielding currencies after economic reports showing the global recession may be prolonged spurred demand for the relative safety of the two currencies. The yen rose versus all 16 of the most-traded currencies after Japan reported that the world's second-largest economy shrank at a record pace. The euro slid against the dollar after a German report showed producer prices fell at the fastest rate in almost 22 years.

Japan's currency advanced to 130.03 per euro as of 7:48 a.m. in London, from 130.81 in New York yesterday when it fell to 131.85, the weakest level since May 13. The dollar rose to $1.3604 per euro from $1.3630. The yen climbed to 95.63 per dollar from 95.97.

Day trading system

Learn how to trade futures

learn to trade currency May 18 learn how to trade forex

2009-05-19T23:51:00.000-07:00

The yen weakened against higher-yielding currencies as an advance in Asian stocks and optimism the global recession is easing damped demand for safer assets. The Nikkei 225 Stock Average surged 2.8 percent and the MSCI Asia-Pacific Index of regional shares climbed 2.3 percent after the Standard & Poor's 500 Index rose 3 percent yesterday. Sony Corp., which gets a quarter of its sales from the U.S., jumped 3.3 percent.

The yen fell against all of the 16 most-traded currencies before a U.S. government report that may show housing starts climbed from near a record low, boosting the appetite for riskier investments. The dollar fell to the lowest level this year against the British pound as demand for the relative safety of the U.S. currency eased.

The yen fell to 58.08 against the New Zealand dollar as of 7:55 a.m. in London from 57.28 in New York yesterday. It weakened to 12.9242 Korean won from 13.0768. Japan’s currency declined to 131.34 per euro from 130.61, and dropped to 96.58 per dollar from 96.30.

The euro rose to $1.3593 from $1.3562 yesterday. The pound climbed to $1.5440 from $1.5348, after earlier rising to $1.5443, the highest since Dec. 18. The Swiss franc fell for the third time in four days against the euro. The franc weakened to 1.5120 per euro by 7:07 a.m. in Zurich, from 1.5110 yesterday. It was little changed at 1.1146 versus the U.S. dollar.

Forex, gold and euro learn to trade Forex

2009-05-15T19:21:00.000-07:00

The euro fell against the dollar and extended a weekly loss versus the yen after a German government report showed Europe's largest economy contracted last quarter by more than economists estimated. Germany's gross domestic product dropped a seasonally adjusted 3.8 percent in the first quarter from the fourth quarter, when it fell 2.2 percent, the Federal Statistics Office in Wiesbaden said today. That's the deepest slump since quarterly data were first compiled in 1970 and compares with the 3 percent decline estimated by economists in a Bloomberg survey.

The euro also headed for its first weekly loss in a month versus the dollar on concern a European report today will show the region's economy shrank at the fastest pace in at least 13 years.

The euro declined to $1.3593 as of 7:36 a.m. in London from $1.3639 in New York yesterday, heading for 0.3 percent loss this week. Europe's currency fell to 129.93 yen from 130.67 yen, and was set for a 3.2 percent decline this week. The dollar bought 95.59 yen from 95.80 yen.

Gold headed for a second weekly gain as the dollar extended its decline and global stocks were poised for their first weekly slump in ten, boosting demand for haven investments. Gold for immediate delivery was at $926.92 an ounce at 2:18 p.m. in Singapore. The metal climbed to $930.90 an ounce May 13, the highest since April 1. Silver was unchanged at $14.06 an ounce, a gain of 0.4 percent this week.

The dollar gained for a second day against the euro as Asian stocks extended a global slump, spurring demand for the relative safety of the U.S. currency.The euro declined to the lowest level in almost a week against the dollar on speculation European Central Bank officials will today signal they plan to take further unconventional measures to keep down borrowing costs. Asian currencies weakened on concern a U.S. jobs report today will show the global economy continues to deteriorate, damping the appetite for emerging-market assets.The dollar advanced to $1.3584 per euro as of 7:44 a.m. in London from $1.3600 yesterday in New York. It earlier rose to $1.3526, the strongest level since May 8. The U.S. currency climbed to 95.70 yen from 95.30. The yen traded at 129.83 per euro from 129.61, after earlier climbing to 128.87, the highest level since April 29.The Dollar Index, which the ICE uses to track the U.S. currency against the euro, yen, pound, Swiss franc, Canadian dollar and Swedish krona, rose for a second day, gaining 0.3 percent to 82.746.

http://www.30minutetrader.com

http://www.moneymakeredge.com/blog
http://www.tradingonlinemadeeasy.com

2009-03-20T00:03:00.001-07:00

S&P 500 day trading emini futures online (http://ping.fm/3squO)

2009-03-19T23:43:00.001-07:00

Day trading S&P 500 day trading course March 20 live room (http://ping.fm/10iwj)

2009-03-19T13:14:00.001-07:00

S&P 500 day trading emini futures online (http://ping.fm/3squO)

2009-03-19T13:06:00.001-07:00

My friend Allan B. sees it like it is. Market makers setting up the investors. (http://ping.fm/ya3ma)

2009-03-19T11:39:00.001-07:00

S&P 500 market makers, 1.25 trillion, unemployment and treasuries. (http://ping.fm/4oqmL)

2009-03-19T10:55:00.001-07:00

S&P 500 day trading course March 19 240 min chart (http://ping.fm/vFkow)

2009-03-18T23:15:00.001-07:00

Day trading S&P 500 emini futures live room March 19 (http://ping.fm/LPICN)

2009-03-17T23:38:00.001-07:00

S&P 500 day trading course emini futures march 18 (http://ping.fm/MV2zy)

Day trading S&P 500 emini futures live room March 17

2009-03-17T00:21:00.001-07:00

Day trading S&P 500 day trading course, looks like we are back at the point of control from yesterday. If we can't break through the 800 mark the bulls will exhaust and we will probably see a rollover again.

From: http://ping.fm/bXQ6L

Day trading S&P 500 emini futures live room March 16

2009-03-16T01:18:00.001-07:00

New Day trading S&P 500 video with levels for the trading day.

From: http://ping.fm/wnJDu

2009-03-16T01:14:00.001-07:00

Day trading S&P 500 emini futures live room March 16 (http://ping.fm/wnJDu)

Aug 4 dollar is gaining strength on oil

2008-08-04T21:30:00.000-07:00

Coming off new highs the Dollar is gaining a little strength with the fall of oil. Could see a test of support if FOMC meeting is stable tomorrow.

There will be a US bank report released this week on the number of banks on the watch list for bankruptcy. Supposedly 50 of the top 100 banks are close to folding.

Expecting a small bounce from there.

July 23 Japnese yen is getting cheaper on breakout

2008-07-23T15:17:00.000-07:00

broke away from the support, will be following the support trend line, this has a lot of pace behind it. Lets see how far this will go.

July 23 target hit on EURUSD dollar euro trade

2008-07-23T15:03:00.000-07:00

Our first target is hit + .0180 not yet finished though. Looking for another move based off of financials in the next few days. This could be a good time to sell the dollar for a bounce up to 1.5786.

S&P 500 emini futures trade

2008-07-22T20:38:00.001-07:00

Make on Snapvine | Copy This

July 22 EUR USD trend line breaching

2008-07-22T10:59:00.000-07:00

Watch this short term rally push the Euro around, I bet it is short lived.

Targets of 1.569 and 156. then if we break that and the US markets are still holding up possible 1.55 to .54

We shall see, this is still in a powerful trend.

Feds spigot is still wide open into the market place and getting into the Fannie mae and Freddie Mac will just increase the long term pain to the markets and lower dollar. Expecting a rebound on the Euro soon.

July 22 Ready to Pop USD JPY

2008-07-22T10:53:00.000-07:00

In a major congestion area, looks like it is ready to pop. Possibility of testing 108++ we shall see as this rally settles and oil bounces back.

If fed raises intrest rates we could see a quick bounce up to 110.

We shall see. Lending is tightening again as banks see the 4.10 ten year.

Major currencies July 11 Forex

2008-07-11T15:00:00.000-07:00

Dollar looses about 1/2 % against most majors and .74% against the yen.

Euro Dollar approaching target highs

2008-07-11T14:35:00.000-07:00

Excellent swing entry from 1.57500 as movement was confirmed in most time frames. Big move.

Looking for a little resistance for a day or two then a push up probably off the news of ECB release. Dollar looks like it will be shedding a little more value.

Japan's Nikkei stock average fell 0.21 %. Britain's FTSE 100 fell 2.69 %, Germany's DAX index declined 2.41 %, and France's CAC-40 fell 3.09 %

Euro lost gains after ECB said it will not raise interest rates today

2008-07-03T10:40:00.000-07:00

ECB did not raise Interest rates today and the Euro lost the gains it made yesterday when it broke through the upper trend line.

Expecting another attempt on 160.