Latest forex analysis
Latest forex analysis - 11/10/07
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"Despite appreciation which the dollar experimented over the last days it changed its direction after the publication of the Meeting Minutes of the FOMC, from September 9."
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Latest forex analysis - 18.10.07
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USD again closing in on multi-year lows.
"The risk reduction ahead of the coming weekend's G7 event has been far shallower than anticipated, and overnight developments have the USD within reach of its multi-year extremes in weakness again."
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The USD is heading for third-world-currency status imo. Nothing to do with other-currency strengths, more that the fed. has given up any pretense of wanting a strong dollar, instead content to print more as needed. And while a major rush to sell the USD would results in a collapse of the financial markets (so won't happen), expect to see the devaluation rate increase rather than decline...
I recall a few years ago that people were laughing at Warren Buffett's decision on being short the dollar (as was Bill Gates if memory serves...) - he was getting 'killed' at the time as the greenback rebounded. His response: he "wasn't worried" - as long as the US monetary policy remained as it was, he was confident the dollars decline was assured!
How right he was.....
Latest forex analysis - 22/10/07
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G7 Statement focuses on China, giving USD weakness a theoretical green light.
"The G-7 produced little in the headlines. Therefore, the knee-jerk reaction to the statement, which focused on the Chinese Yuan and the unified call for China to allow its currency to strengthen more rapidly, was that this gives a green light to further USD weakness. "
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Latest Forex Analysis - 24/10/07
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Existing Home Sales looks to define today's market.
"The USD slipped yesterday, one day after its strongest rally against the EUR in more than a year, as investors braced for September data on the U.S. housing market that is expected to push interest rates lower."
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Read the latest analysis - 29/10
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Euro and Crude trade at record highs. AUD trades above 92 cents.
"The Euro (EUR) traded at fresh record highs on a broadly weaker dollar following sustained credit turmoil. The Euro headed towards its third weekly gain against the greenback as consumer confidence did little to provide any relief. Overall the EURUSD traded with a low of 1.4317 and a high of 1.4394 before closing the day at 1.4385 in the New York session."
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Read the latest forex analysis:
Euro and Crude trade at record highs. AUD trades above 92 cents.
"The Euro (EUR) traded at fresh record highs on a broadly weaker dollar following sustained credit turmoil. The Euro headed towards its third weekly gain against the greenback as consumer confidence did little to provide any relief. Overall the EURUSD traded with a low of 1.4317 and a high of 1.4394 before closing the day at 1.4385 in the New York session."
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Latest Forex Analysis 5/11/07
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Non Farm Payrolls provides temporary relief on the dollar as markets forecast further Fed rate cuts
"U.S. Dollar Trading (USD) eased on Friday despite a mid session rally. Mid way through the New York session the Dollar was boosted by a positive Payrolls reading with figures coming in at 166K, well above expectations of 80K jobs for the month of October."
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US Inflationary data strengthen dollar. Japanese business sentiment at 2 year lows.
The Euro (EUR) ended the weak down 1.5% against the USD, its largest weekly decline since August 2007, on views that rising consumer prices would prevent the Federal Reserve from easing rates in the near term. In Eurozone specific data, the HICP was released flat on consensus.
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