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01-10-2009, 09:39 PM
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Crude Oil Jumps on Release of Inventories Data
The price of Oil jumped considerably on the release of the Crude Oil Inventories data at 14:30 GMT. The final results showed inventories rose by 2.8 million barrels of Crude. Since the release, the price of Crude has continued to rise as the black gold approaches $70 a barrel. As a result, the Dollar went lower against the EUR. This was despite the USD making some gains vs. the European currency in trading earlier on.
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05-10-2009, 09:36 PM
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EUR/USD Volatility Ripples across FX Market
As the first week of October kicked off last week, traders witnessed a number of volatile jumps in the worlds 2 primary currencies: the EUR and USD. Optimism appeared to be on the rise in America while Europe was giving off signals of a lagging economy. The USD had pared a moderate percentage of its previous losses until employment data in the US hampered those gains and sent the EUR flying high. As a result, every other currency in the forex market was impacted in a similar way since these currencies have the ability to influence world prices.
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06-10-2009, 09:09 PM
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USD Plummets as Recession Continues to Ease
The U.S. Dollar continued to plummet in Tuesday's trading, as the global recession continued to ease, with the leading economies, such as Canada, the U.S. and Australia continuing to show improving economies. The optimism in the markets was compounded earlier today when Australia unexpectedly raised Interest Rates to 3.25% from 3%. This raised optimism in both the equity market and the forex market. As a result, in some cases the USD went bearish, as traders ditched the greenback for riskier assets. Meanwhile, the GBP plummeted as British manufacturing slid to its lowest level in 17 years.
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08-10-2009, 07:47 PM
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Dollar Slides as Commodities Soar
The dollar weakened against most of its major currency pairs today, after strong Australian jobs data sent the Australian dollar sharply higher and an upbeat U.S. corporate earnings report fuelled investor demand for higher risk and yield at the expense of the greenback.
Gold rose towards $1,055 on Thursday as the dollar fell against the EUR and crude oil maintained its strength, although some resistance emerged around that level. Further gains could be on hold for the rest of the day, however, as investors await news that will provide clues to the state of the global economy.
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14-10-2009, 05:49 PM
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The Dollar Retreats as Commodities Hit New Highs
The U.S. Dollar fell against a basket of currencies to within sight of recent lows on Tuesday as Gold hit a new high and Oil prices strengthened. The USD and commodities are often inversely correlated, with Gold and Oil priced in dollars and seen as an alternative currency and hard asset themselves. Ahead of U.S. corporate earnings figures and speeches from Federal Reserve officials later in the day, currency investors continued to speculate about when the U.S. central bank will tighten its monetary policy, thus putting more pressure on the U.S currency.
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21-10-2009, 05:54 PM
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EUR Unable to Push above $1.50
he Dollar strengthened versus the EUR following a decline in stock markets, poor U.S economic data and an unexpectedly dour outlook from the Bank of Canada. Concerns about the strength of U.S. corporate earnings and the strength of the global economic recovery dampened demand for risky assets, halting hit the EUR's attempt to breach the $1.50 mark Tuesday.
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22-10-2009, 07:52 PM
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Dollar Tumbles as Investors Turn to Riskier Assets
Witnessing a steady decline during this week's trading sessions, the USD became weakened as traders unwound their Dollar-buy positions in exchange for riskier assets, such as stocks. The global stock rally seen yesterday may have been one of the leading causes in the Dollar's depreciation. With recent market optimism, traders may continue to see a small downward trend in the U.S. Dollar as its positions are unwound in exchange for higher yielding assets.
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