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US Session – Dollar weakens on concerns of US debt limit

Posted on September 25, 2013 at 8:09 pm GMT

The US is in the spotlight these days and politics, the US debt limit, tapering will all definitely cause alot of volatility in the markets in coming days. The lingering risk of the US government shutdown is one factor that is hurting currencies versus the safe haven yen. As a result the dollar and the euro as well as the pound are all weaker against the safer yen this week. In Wednesday’s US session, the dollar got a brief boost [..]

Forex News – New home sales in US higher than forecast, lift dollar

Posted on September 25, 2013 at 7:40 pm GMT

Sales of new homes in the United States were up 7.9 percent in August after a 14 percent decline in July, giving hope that the slowdown in the nation’s housing sector has begun some recovery. The US housing sector, which has been a major drag on the US economy since the 2007-09 recession, appeared to turn a corner early last year when home prices began to rise. The Commerce Department reported on Wednesday that sales of newly built, single-family homes [..]

Forex News – USDJPY bounces after US durable goods orders

Posted on September 25, 2013 at 1:13 pm GMT

The US dollar jumped against the yen after US data on durable goods orders which rose 0.1 percent during the month of August, beating expectations. These goods include long-lasting U.S. manufactured goods (more than three years). Demand for new cars drove the overall gain in new orders of durable goods, which include everything from toasters to tanks. Forecasts were for overall goods orders to be flat. The increase is a good a signal that the factory sector gained a step [..]

European Session –Dollar falls as US budget in focus, EUR and GBP higher as a result

Posted on September 25, 2013 at 12:08 pm GMT

Markets are nervous today as the US budget debate drags on and there is reluctance to buy dollars until the picture around the debt ceiling becomes clearer. As markets are focused on the US debt issue, and in the absence of any data or fresh information, major currency pairs have no clear direction and are stagnant, hovering in familiar ranges. Dollar weakness has helped the euro and sterling rise today. Euro was also helped by better Italian and German confidence [..]

Forex News – Sterling boosted by strong UK retail sales data

Posted on September 25, 2013 at 10:23 am GMT

Sterling jumped against the dollar and the euro after some positive UK economic data on Wednesday which fueled optimism over the UK’s economic outlook. A report on retail sales volumes was released by the Confederation of British Industry, which showed that the September index rose to the highest level since June 2012, a new 15-month high. The index climbed to 34.0 in September from a reading of 27.0 in August, beating forecasts of a decline to 24.0 this month. On [..]

Technical Analysis – USDJPY pullback will give good buy opportunity

Posted on September 25, 2013 at 8:21 am GMT

USDJPY has been ranging all week and has not shown any clear direction yet. The main level the pair has been pivoting around is 98.90 yen, which is the 38.2 % Fibonacci retracement of the move from the September 18 low to the September 20 high. While the long term trend is up since August 8, we expect a pullback before resumption of this uptrend. On the 4 Hour chart on Wednesday, the pair is testing strong support at 98.50 [..]

Asian Session – Currencies drift lower against dollar, yen retains gains

Posted on September 25, 2013 at 5:53 am GMT

The Asian session on Wednesday was quiet, following an equally calm US session. Most G10 currency pairs consolidated the prior day’s moves. Risk sentiment remains off, thereby helping support the dollar and yen as safe havens. Euro, sterling and aussie all barely moved out of a 20-point range against the dollar and are going into the European session near their lows. EURUSD found support at $1.3465, a level tested yesterday as well. The pair was unable to break higher than [..]

US Session – Dollar bounces versus yen after US house price data

Posted on September 24, 2013 at 7:49 pm GMT

The US dollar rebounded against the yen and was higher against euro and sterling as data on US house prices stoked optimism amongst investors on Tuesday. Data showed house prices rose on a yearly basis, at the biggest annual rise in seven years. Meanwhile, the impact of the delay in the Fed’s tapering has been diminishing, which could be due partly to comments from Fed officials today and on Monday. More Fed officials speak on Thursday and Friday. Investors [..]

European Session – USDJPY below 99, Euro falls after German Ifo

Posted on September 24, 2013 at 11:26 am GMT

Most majors headed down today. USDJPY fell back below the key 99.00 level after advancing in the early European session to a high of 99.16 yen. Market sentiment is overshadowed by the Fed amid uncertainty about its plans for tapering its huge stimulus programme which has weakened the USD. Fed officials who spoke yesterday gave a dovish view on the US economic outlook and there will be more officials speaking today. In Europe we had the German Ifo report on [..]

Forex News – Euro dips after German Ifo misses forecasts

Posted on September 24, 2013 at 8:34 am GMT

The euro dipped against the dollar immediately after the German Ifo report released on Tuesday. The key survey on German business sentiment for September fell below expectations. It missed the forecast for a reading of 108.2. That compared with a revised reading of 107.6 in August. The Munich-based Ifo think tank based its monthly survey on 7,000 German firms in the manufacturing, construction, wholesale and retail sectors. EURUSD slipped $1.3492 after the survey was released at 0800GMT from $1.3515 beforehand. [..]

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