U.S. Dollar Gets Punished Ahead of the U.S. Durable Goods Orders Report

Sep 24, 2010 (DailyFX via COMTEX News Network) --

The U.S. dollar has fallen against all major currencies overnight, losing the most ground to the euro as the German IFO business climate topped expectations in September. USD traders will now shift their focus to the U.S. durable goods orders report. As of late, economists are forecasting for a 1.0 percent decline.

iEURiEURiEURiEURiEURiEURiEURiEUR

Fundamental Headlines

- Japan to Release Chinese Boat Captain - Wall Street Journal

- "Macro" Forces Stump Stock Pickers - Wall Street Journal

- Eurozone Crackdown on Public Finances - Financial Times

-German Business Confidence Unexpectedly Reaches Three-Year High This Month - Bloomberg

- California Budget Deal "Framework" Reached in Talks, Schwarzenegger Says - Bloomberg

EURUSD: German IFO business climate in topped expectations in September as figures rose to 106.8 from 106.7 the month prior amid expectations of the reading falling to 106.4. The better than forecasted reading was largely contributed by the current assessment component, while expectations tapered the advance. It is worth noting that today's increase in the business climate report marks the highest reading since June 2007, and suggests that economic growth may remain intact for the next one to three months. Indeed, GDP in Europe's largest economy accelerated 2.2 percent in the second quarter, while the unemployment rate remains at its lowest level since 2008. However, expectations for future growth are blurry as governments will implement tough austerity measures in order to battle their high budget deficits. In turn, the euro pared yesterday's decline and now looks poised to test the pivot resistance at 1.3521.

Written by Michael Wright, Currency Analyst

To Receive Future Articles by Email, please contact me at mwright@fxcm.com

Michael Wright is the author of FX Headlines, Fundamentals vs. Technical's, Weekly Spotlight, and Forex Trading Weekly Forecast

DailyFX provides forex news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM.

Copyright (C) 2010 DailyFX. All rights reserved.

View the original article here

Exto Capital Technical: Euro pushes though key resistance

 

The Euro pushed through the 1.33 resistance area and pressed higher to almost 1.35. The better than expect IFO, along with an increasing appetite for riskier currencies, lead the EUR/USD higher.

Analysis provided by Exto Capital

Next Analysis: Exto Capital
Exto Capital SA is an independent brokerage firm offering online forex trading and CFD trading on indices and commodities. With its asset management partner Exto Financials SA based in Switzerland, it offers a full range of investment products and services to individuals and institutions. Exto ...
Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Currency trading is not conducted on a regulated exchange, and as a result there are associated risks with forex trading.  Related Products

Broad Market Analysis

Overview Adaptation is the name of the game in long term trading success. Join Fernando Gonzalez ...

Controlling the Trade

Overview This course is more than simple rules, this class explores and shows you how to ...

View the original article here

Yen pares losses, intervention talk unconfirmed

Yen pares losses, intervention talk unconfirmed

LONDON: The yen staged a partial recovery from losses prompted by unconfirmed talk of central bank intervention on Friday, while the euro rose on a stronger than expected German business sentiment survey.

The Ifo German business climate survey helped ease some of the concerns over the global economy recovery that had been revived by data on Thursday showing new claims for US employment benefits rose last week.

Crude oil prices rose for the third day in a row and world equities were steady after falling 0.5 percent the previous session.

Talk that Tokyo was intervening in the market to weaken the yen for the second time this month had helped the Nikkei share benchmark cut its losses by boosting the shares of exporting companies, though the index ended 1 percent lower when no confirmation of the intervention rumours emerged.

That still left investors edgy and with risk aversion hitting markets, traders said the Bank of Japan?s task of weakening the yen was becoming even tougher.

?The price action certainly suggested that the Japanese intervened, but one can?t be sure,? said Kenneth Broux, markets strategist at Lloyds TSB Financial Markets.

?With stock markets retreating and a general pullback in risk appetite, the yen and the Swiss franc will be supported, making the BoJ?s job harder.?

The US currency added 0.2 percent to 84.53 yen after rising as high as 85.40 earlier in the day. The greenback is still down 9 percent this year against the yen, which tends to strengthen when concerns mount over global growth.

The dollar had had fallen to 84.26 yen on Thursday, its lowest level since Tokyo intervened last week, and traders said major Japanese banks were now bidding it up.

The euro was up 0.7 percent at $1.3407 after the Munich-based Ifo think tank said its business climate index, based on a monthly survey of some 7,000 firms, rose to 106.8 from 106.7 in August. The shared currency added 1 percent to 113.34 yen. reuters

Home | Business

View the original article here

Exto Capital Technical: Market tests the yen

 

The Yen strengthen during the week as the dollar weaken as the 2-year US yields declined. Market participants will be testing the BOJ’s resolve after the USD/JPY failed to hold the post intervention levels and the 50-day moving average.

Analysis provided by Exto Capital

Exto Capital
Exto Capital SA is an independent brokerage firm offering online forex trading and CFD trading on indices and commodities. With its asset management partner Exto Financials SA based in Switzerland, it offers a full range of investment products and services to individuals and institutions. Exto ...
Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Currency trading is not conducted on a regulated exchange, and as a result there are associated risks with forex trading.  Related Products

Broad Market Analysis

Overview Adaptation is the name of the game in long term trading success. Join Fernando Gonzalez ...

Controlling the Trade

Overview This course is more than simple rules, this class explores and shows you how to ...

View the original article here

Today's Top Stock Picks - Sponsored Link

As a security measure to ensure our customers receive the highest quality traffic, we ask that you please type in the characters that you see on this picture in to the box below.

View the original article here

Forex Trading Robot: Trade Forex 24 Hours a Day -- ForexTutor.org Special Report (Forex Trading Strategies)

*** A ForexTutor.us Special Report ***

Is foreign exchange trading a true get rich quick scheme? Foreign exchange trading, or Forex, is a real opportunity to get extremely wealthy in a very short amount of time. How?

The key is leverage.

Some Forex brokers allow you a leverage ratio of 200:1. That is the equivalent of investing $1,000 into a $200,000 asset, and an asset that you could turn around and trade within seconds for a quick profit if done correctly!

Forex trading involves dealing in international currencies. Here, one can sell currency of one country to buy that of another. The trader deals in Foreign Exchange [Forex] at the most appropriate time to profit from the transaction. Good ability to forecast plays a vital role here. One may wonder how Forex trading can be such a lucrative earning opportunity since fluctuations in exchange is so little.

But remember, when done in big volumes, a minor change can mean a lot. There are many non-monetary advantages to it as well. Anyone who wants to deal in Forex can do so, since only the basic knowledge is required for it.


Is foreign exchange trading a true get rich quick scheme? Foreign exchange trading, or Forex, is a real opportunity to get extremely wealthy in a very short amount of time. How?

The key is leverage.

Some Forex brokers allow you a leverage ratio of 200:1. That is the equivalent of investing $1,000 into a $200,000 asset, and an asset that you could turn around and trade within seconds for a quick profit if done correctly!

Forex trading involves dealing in international currencies. Here, one can sell currency of one country to buy that of another. The trader deals in Foreign Exchange [Forex] at the most appropriate time to profit from the transaction. Good ability to forecast plays a vital role here. One may wonder how Forex trading can be such a lucrative earning opportunity since fluctuations in exchange is so little.

But remember, when done in big volumes, a minor change can mean a lot. There are many non-monetary advantages to it as well. Anyone who wants to deal in Forex can do so, since only the basic knowledge is required for it.

Price: $2.47

Click here to buy from Amazon

A Guide To Forex Robot

We might already have an idea what a Forex robot can do for Forex traders. Forex robot manufacturers would claim that this technology enabled them to gain more profit, but aside from this, what other advantages can a Forex robot give.

It is not unusual for a trader to a lose because of backing out from a deal that they think would end up in losing, only to figure out that this trade would go for the better. Emotions can influence traders and make them indecisive. This psychological factor is actually one of the major problems a Forex robot addresses....

Download "A Guide To Forex Robot" Now!

Price: $1.99

Click here to buy from Amazon