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The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-21 22:14:00 U.S. Dollar Trading (USD) eased slightly against a number of majors in a follow through from FOMC minutes on Wednesday, which prompted traders to anticipate further rate cuts from the Fed in the coming meeting (March 18th), as the central bank lowered its 2008 growth forecasts. In data specific news, the Philly Fed survey was lower than forecasts coming in at -24.In US share markets, the NASDAQ was down by -96.23 points (-1.06%) whilst the Dow Jones was lower by 142.96 points (-1.15%). Crude oil eased from it record highs seen in the previous session. Crude dropped by US$2.71 a barrel to US$98.03. · The Euro (EUR) gained broadly versus the dollar as output of the US came in on the weaker side. Despite the views that economic growth is expected to slow to 1.8% in 2008 from the previous 2.7%, inflation is expected to remain above the ECB comfort band. Overall the EURUSD traded with a low of 1.4703 and a high of 1.4838 before closing the day at 1.4815 in the New York session. PMI service ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-20 22:18:00 · U.S. Dollar Trading (USD) rallied broadly versus a number of majors as data showed that inflation had risen, prompting investors to trim bets the Fed will avoid slashing rates in their next gathering. Inflation increased 4.3 % in the 12 months through to January, on higher food prices. Core prices which exclude food and energy costs, also rose 0.3 % in January after gaining 0.2 % in December, which was the strongest monthly increase since June 2006. Housing starts provided further boost to the dollar rising to 1.012 mln a slight rebound from the 1.004 mln in December. In U.S. share markets the NASDAQ was up by 50.92 points (+0.56%) whilst the Dow Jones was also up by 90.04 points (+0.73%). Crude oil rallied by US$0.90 a barrel to a record high of US$101.00. The Philly Fed survey is scheduled for release on Thursday as the only key piece of economic data.· The Euro (EUR) weakened on the back of buoyant CPI data out of the world’s largest economy. The Euro was further pressured on ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-20 05:19:00 .S. Dollar Trading (USD) rallied broadly versus a number of majors as data showed that inflation had risen, prompting investors to trim bets the Fed will avoid slashing rates in their next gathering. Inflation increased 4.3 % in the 12 months through to January, on higher food prices. Core prices which exclude food and energy costs, also rose 0.3 % in January after gaining 0.2 % in December, which was the strongest monthly increase since June 2006. Housing starts provided further boost to the dollar rising to 1.012 mln a slight rebound from the 1.004 mln in December. In U.S. share markets the NASDAQ was up by 50.92 points (+0.56%) whilst the Dow Jones was also up by 90.04 points (+0.73%). Crude oil rallied by US$0.90 a barrel to a record high of US$101.00. The Philly Fed survey is scheduled for release on Thursday as the only key piece of economic data.· The Euro (EUR) weakened on the back of buoyant CPI data out of the world’s largest economy. The Euro was further pressured on comm ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-19 23:55:00 · U.S. Dollar Trading (USD) in what was quiet data day, the Greenback trading in a range against a number of majors. In U.S. share markets, the NASDAQ was down -15.60 points (-0.67%) whilst the Dow Jones was also down by -10.99 pts (-0.09%). Crude oil broke level of US$100 a barrel last night, rising by US$4.51. Looking ahead key data in the form of Core CPI (Forecast: 0.2%; Prior: 0.2%) and Housing Starts (Forecast: 1015K; Prior: 1006K) is out on Wednesday. Although, focus will soon shift to the FOMC minutes of the Jan 30 meeting in which the members voted for a 50bps cut, for any indication of monetary policy outlooks.· The Euro (EUR) gained versus the dollar ECB member Noyer said he “remains confident” about France's economic situation despite global economic turbulence. Overall the EURUSD traded with a low of 1.4642 and a high of 1.4757 before closing the day at 1.4733 in the New York session.· The Japanese Yen (JPY) once again tracked stock prices as the N225 closed 0.9% h ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-19 05:31:00 U.S. Dollar Trading (USD) was a quiet session of trade as markets in the US were closed on the back of President’s Day Holiday, as bearish sentiment followed through from Friday’s poor data readings. Market is expected to resume on Tuesday although the only event worthy of noting would be Fed Official Stern speaking on the state of the US economy.· The Euro (EUR) gave up some of its late rally seen last week on the back of poor data. With the absence of data coupled with US holidays, the Euro held broadly in a range trading technically for much the day. Overall the EURUSD traded with a low of 1.4611 and a high of 1.4689 before closing the day at 1.4655.· The Japanese Yen (JPY) demand for services saw its largest drop in three months with Tertiary Index fell by -0.6% from the previous month. Overall the USDJPY traded with a low of 107.76 and a high of 108.09 before closing the day at 107.65.· The Sterling (GBP) continued its decline versus the dollar, further tumbling on news tha ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-18 05:08:00 U.S. Dollar Trading (USD) fell across the board as disappointing data ensured the greenback remained heavily pressured. New York manufacturing and tumbling consumer confidence added to concern that the U.S. economy is headed for a recession. The NY Fed manufacturing survey fell to -11.72 for the month of February, signaling a contraction for the first time in almost 3 years, whilst Consumer Confidence recorded it lowest reading since 1992, coming in at 69.6. In US share markets, the NASDAQ was down by -10.74 points (-0.46%), whilst the Dow Jones also declined by -28.77 points (-0.23%). Crude oil fell from a five week high on speculation U.S. demand will drop after a report showed that consumer confidence slumped to the lowest level since 1992. However, Crude did end the day up by US$0.23 a barrel to US$95.69.· The Euro (EUR) traded at a week high on the back of poor data out of the US, prompting investors to look for alternative currencies. Its rise of 1.3% versus the dollar is the bi ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-18 05:08:00 · Euro – 1.4680Initial support at 1.4631 (Feb 15 low) followed by 1.4549 (Feb 14 low). Initial resistance is now located at 1.4698 (50% retracement of the 1.4956 to 1.4440 decline) followed by 1.4759 (61.8% retracement of the 1.4956 to 1.4440 decline).· Yen – 107.85Initial support is located at 107.00 (Feb 13 low) followed by 106.35 (Feb 11 low). Initial resistance is now at 108.67 (38.2% retracement of the 114.66 to 104.97 decline) followed by 109.82 (50% retracement of the 114.66 to 104.97 decline)· Pound – 1.9575Initial support at 1.9606 (Feb 15 low) followed by 1.9551 (Feb 13 low). Initial resistance is now at 1.9738 (Feb 14 high) followed by 1.9763 (Feb 5 high)· Australian Dollar – 0.9080Initial support a 0.9005 (Feb 15 low) followed by 0.8954 (Feb 14 low). Initial resistance is now at 0.9102 (Feb 4 high) followed by 0.9125 (Nov 12, 2007 high)· Gold – 902.60Initial support at 896.50 (Feb 13 low) followed by 885.0 (Feb 7 low). Initial resistance is now at 927.31 (Feb ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-17 07:41:00 The Dollar largely data dependent, although releases were at a bear minimum throughout the week. The general sentiment surrounded poor economic data although the dollar rebounded on risk aversion, highlighted by the mid week release of the ISM services figure, which were released at a dismal 41.9, contracting below the 50 level, at its lowest showing since the October 2001, just after the September 11 attacks. With the services sector contributing 70% of the US economy, the data renewed fears of complete US recession. The Euro saw much of its focus surround the ECB rate announcement on Thursday, and as widely expected, the members of the central bank voted for holding rates at 4.00%. Much of the movements were seen during the post rate press conference, in which ECB’s President Trichet noted that although Inflation remained on the upside, largely due to wage/price spiral, the Central Bank heavily viewed the “downside risks to growth”, causing market to pre-empt a loosening bias i ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-16 02:49:00 TECHNICAL COMMENTARY· Euro – 1.4645Initial support at 1.4440 (Feb 7 low) followed by 1.4366 (Jan 22 reaction low). Initial resistance is now located at 1.4615 (Feb 12 high) followed by 1.4637 (38.2% retracement of the 1.4956 to 1.4440 decline).· Yen – 107.80Initial support is located at 105.71 (Jan 31 low) followed by 104.97 (Jan 23 low). Initial resistance is now at 107.66 (Feb 11 high) followed by 107.89 (Jan 28 high)· Pound – 1.9690Initial support at 1.9403 (Feb 11 low) followed by 1.9389 (Feb 7 low). Initial resistance is now at 1.9643 (Feb 12 high) followed by 1.9763 (Feb 5 high)· Australian Dollar – 0.9020Initial support a 0.8916 (Feb 8 low) followed by 0.8875 (Feb 7 low). Initial resistance is now at 0.9086 (Feb 12 high) followed by 0.9102 (Feb 4 high)· Gold – 909.60Initial support at 896.70 (Feb 13 low) followed by 885.0 (Feb 7 low). Initial resistance is now at 927.31 (Feb 11 high) followed by 936.80 (Feb 1 trend high) /lkjh7y6yhgThe guide that will show you eve ...

The Easy Forex Market Outlook, Currency Trading News And U.S. Dollar, The Euro, Japanese Yen, GBP Sterling Moves. 2008-02-15 09:04:00 U.S. Dollar Trading (USD) eased against a number of majors as Fed Chairman Bernanke signaled the Central Bank may continue to cut rates further, amidst concerns the US was headed into recession. His comments addressed the Fed “will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks”, causing futures market to price in an 80% chance that policy makers will move to cut by another 50bps in the next rate meeting on the 18 march. In U.S. share markets the NASDAQ was lower on Thursday by 41.39 points (-1.74%) whilst the Dow Jones also fell by -175.26 (-1.40%). Crude oil fell by rose by US$2.15 a barrel to US$95.42. Looking ahead, heavy data day is scheduled for Friday, with the releases of TIC flows, NY Fed Manufacturing, Industrial Production, and Michigan sentiment survey.· The Euro (EUR) rallied to a week high post “dovish” Bernanke comments yesterday. On the data front, Eurozone GDP came in better than forecasted in at 0.4 ...