The euro continues to consolidate within a narrowing wedge formation that has most recently kept EUR/USD contained to a tight range of 1.2450 - 1.2600.
The US dollar was not able to make a successful break higher on Friday, as a look at the trade-weighted US dollar index shows solid resistance at 88.35.
On a day when the market had nothing to be happy about, the leak of President-elect Barack Obama’s Cabinet announcements have erased one major uncertainty for the financial markets, helping equities and currencies recover. The NY Times reports that Hillary Clinton has accepted the post of Secretary of State and NBC reports that Timothy
USD/JPY rallies through 95.00 hitting 95.50 as equities make a U turn to the upside AUD/USD strong move off 6100 lows to hits 6260 in early Europe are risk appetite returns GBP/USD flies to 1.4990 as 1.50 calls after persistent liquidation this ……
- Early trading this morning has been volatile once again, with US indices opening higher, sagging into the red and then rallying back to positive territory. The relentless selling in shares of Citigroup continues to weigh heavily on markets, dragging dow…
- In equities news overnight, reports circulated that Citigroup [C] could be looking for new investors or even merger opportunities. The board is planning to hold a formal meeting on Friday
A hopeful early session on Wall St. following a mid-day rumor of a compromise for the auto sector bailout turned into a rout in the last hour, when a conference of Democratic Congressional leaders sent the CEOs of the Big 3 home emptyhanded. Instead of a …
Loonie gains in currency trading The Canadian dollar is rallying on the FX market today. Thanks to some help from an improving stock market, sentiment is favoring the loonie in currency trading for the first time in quite a while. However, the Canadian dollar is still a ways from parity with the U.S
High yielding currencies on the FX market One of the forex trading terms that you might have come across recently is " high yielders ." This refers to currencies that have high interest rates attached to them. Interest rates are set by central banks. The higher the rate, the higher the yield.
The Euro continues to trade within a progressively narrower wedge formation against the US Dollar, and the next several days of price action will likely dictate Euro/US Dollar direction for the next several weeks of EUR/USD trading.
