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Forex News – USDJPY drops after U.S. durable goods orders fall more than expected

Posted on August 26, 2013 at 12:52 pm GMT

U.S. durable goods orders fell more than expected on Monday and pushed the dollar lower against the yen as markets reacted negatively to the data. USDJPY dropped to 98.25 yen immediately after the data from where it was trading at 98.51 just before the data. The July number fell after three months of increases, indicating manufacturing will be slow to strengthen in the world’s largest economy. Durable goods are goods that are meant to last at least three years. According [..]

European Session – Dollar flat as markets wait for U.S. durable goods data

Posted on August 26, 2013 at 11:56 am GMT

The dollar is flat against the yen, continuing in a range from the Asian session into the European session on Monday. Focus is on upcoming U.S. economic data on durable goods orders, so investors are waiting on the sidelines until then. On Friday, the Commerce Department said U.S. new home sales fell by a larger-than-forecast 13.4 percent in July, the largest decline in more than three years. The U.S. currency received a blow on Friday after the disappointing data, pushing [..]

Asian Session – Dollar lower after disappointing U.S. home sales

Posted on August 26, 2013 at 6:14 am GMT

The Asian session on Monday was quiet as most currency pairs consolidated Friday’s moves. The U.S. dollar fell from a three-week high on Friday after data showed a steep drop in U.S. new home sales which raised concerns about the U.S. housing recovery. U.S. durable goods orders due later today will be in focus. USDJPY fell to 98.38 on Friday and has since traded sideways in a rang, capped below 98.83 yen. The Japanese currency is also given an [..]

European Session – Sterling jumps after UK GDP only to fall again

Posted on August 23, 2013 at 12:11 pm GMT

The euro and the pound were the main focus in the European session on Friday, with both currencies swinging back and forth throughout the session. Sterling gained some 60 pips to a session high on the release of the confirmation of second quarter U.K. GDP second reading which came in at a positive 0.7 percent versus a previous estimate of 0.6 percent. GBPUSD jumped from a pre-data low of $1.5606 to a session high of $1.5636. The gains were short-lived [..]

Asian Session – Yen falls to one-month low against euro

Posted on August 23, 2013 at 6:10 am GMT

The yen was the worst performer during the Asian session on Friday, extending losses against the dollar and reaching a one-month low against the euro on expectations of bolder monetary policy measures by the Bank of Japan. The yen lost 0.3 percent against the dollar and is poised for a 1.5 percent loss since August 16. USDJPY hit a three week high in the Asian session today of 99.09 yen, the highest since August 5. Against the euro, the yen [..]

US Session – Dollar rally stalls after disappointing U.S. jobless claims

Posted on August 22, 2013 at 7:56 pm GMT

Currency markets remain obsessed with Fed minutes and tapering, which is keeping the U.S. dollar supported. As seen on Wednesday after the publication, the July minutes showed that the FOMC committee was comfortable with Bernanke’s plan to begin tapering bond purchases “sometime this year.” Dollar gained most against the yen today, as well as against the pound and euro. Dollar gains were capped though after some U.S. data on jobless claims were not as good as expected. The number of [..]

European Session – Dollar gains alongside US Treasury yields after Fed minutes

Posted on August 22, 2013 at 12:08 pm GMT

The U.S. dollar remains the favourite during the European session on Thursday, as currency markets continue to be driven by the Fed tapering story and U.S. Treasury yields. The dollar advanced for a second day against the euro and hit a two-week high versus the yen in reaction to the minutes of the Federal Reserve’s Open Market Committee July meeting released on Wednesday. The minutes showed most members were “broadly comfortable” with tapering stimulus this year. In other news today, [..]

Asian Session – Dollar extends gains after upbeat China data

Posted on August 22, 2013 at 6:01 am GMT

The Federal Reserve minutes pushed the U.S. dollar higher after their release late on Wednesday, showing that tapering was still on track for September. Stimulus cuts are positive for the dollar, which rose across the board. In Asian trading Thursday, EURUSD slid to $1.3330 while GBPUSD fell to $1.5587. Meanwhile upbeat Chinese manufacturing data boosted risk appetite in Asia, with USDJPY jumping to a session high of 98.32 yen, gaining 0.6 percent from the session open of 97.66 yen. China [..]

US Session – Dollar jumps against yen after Fed minutes

Posted on August 21, 2013 at 7:45 pm GMT

The U.S. dollar spiked against the yen on the perception that the Federal Reserve tapering timeline is on track. The much awaited FOMC minutes were released today showing broad support by policy makers to start scaling back the Fed’s bond buying program and many speculate that this could be as soon as September. Cutting back on this stimulus program is positive for the dollar and so demand for it was back up after having declined in the past three days. [..]

European Session – Euro eases against dollar, Fed minutes loom

Posted on August 21, 2013 at 11:59 am GMT

The European session was a mixed bag and major currency pairs did not show any clear direction as the key risk event of the day looms. Investors are being cautious ahead of the release of the July policy meeting minutes later today, which could reveal when the U.S. central bank plans to cut back on stimulus measures. The Euro fell back from yesterday’s six-month high against the dollar. This week the single currency was propped up due to investors reallocating [..]

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