FOREX com Forex Analysis Archive

The London session saw some impressive price action and the overall flavor was a much higher US dollar. Talk that the US fiscal stimulus package could total $775 billion and that about $300 b... Read More

On 05-01-2009

The buck was lower against most of the majors in NY trading as poor economic data, lower stocks and some big technical breaks saw the greenback sink. The S&P 500 fell about -0.5% and this... Read More

On 05-01-2009

With high expectations that the incoming Obama presidency will lay out a new sweeping aid package along with a round of tax cuts to help jump start the US economy, risk aversion seems to have fled ... Read More

On 02-01-2009

The New Year began in Asia with the Euro getting crushed ahead of PMI manufacturing data that most expected would show that Europe is slipping further into a deep recession, not a great way to cele... Read More

On 02-01-2009

The London session saw relatively good price action in what is expected to be another thinly traded market following the New Year holiday. Global stock marts continued to press higher and Eur... Read More

On 30-12-2008

Today's Market Update - Asian Session

Today we saw the US Dollar lose further ground in Asia as the escalation of the conflict in the Gaza Strip push investors into the Euro and Yen as the Greenback was shunned. As Israel continued airstr... Read More

On 29-12-2008

The US Dollar continued its run on the losing path yet again today to start another holiday shortened week in Asia. Traders continue to turn their backs on the Dollar as fears that the US recession is... Read More

On 29-12-2008

The price action in the NY session was both surprising and welcomed in what was expected to be a relatively mild holiday trading environment. The lack of economic data or events had traders squa... Read More

On 29-12-2008

Trading activity picked up a touch following last week's holiday lull and this carried on into the London session. The buck headed lower against the euro but was higher against other majors.&nbs... Read More

On 24-12-2008

With the Christmas Holiday on top of us most currency pairs in Asia moved in pretty tight ranges in end of the year thinned markets. USD/JPY opened the session near its highs of 90.97 and proceeded... Read More

On 23-12-2008

USD/JPY was pretty much stagnant today in Asian trading as Japanese markets were closed for the Emperors Birthday national holiday. USD/JPY was a little higher in thinned trading as it wallowed in ... Read More

On 23-12-2008

The NY session was a touch more thrilling than what we saw overnight, though the holiday spirit kept the price action relatively modest nonetheless. Equities in the US got hammered about -1% ... Read More

On 23-12-2008

London trading was a touch lackluster as the holiday shortened week continued to provide overall thin markets. Eurozone data was positive for the most part though even this did not elicit any... Read More

On 22-12-2008

A pretty calm session to start the holiday shortened week off in Asia saw the Yen lose ground across the board as BoJ Governor Shirakawa tried to talk down the Japanese currency in defense of her e... Read More

On 22-12-2008

The buck gained a little more ground in what looked to be a very thin trading market due to the holiday-shortened week. US equities followed overseas marts and declined -1.8% in broad terms b... Read More

On 22-12-2008

The buck rallied some in London trading as weak economic data from across the pond helped support the greenback. Eurozone industrial new orders plunged a sharper than expected -4.7% in Octobe... Read More

On 19-12-2008

The main story to end the Asia week was the Bank of Japan's decision to cut the overnight call rate by 20 basis points to 0.10%. The rate cut that was passed by a vote of 7 to 1 was seen as aggress... Read More

On 18-12-2008

Today saw the Yen reverse a 13 year high of 87.13 against the US Dollar as profit takers swooped in and traders cut positions ahead of the Bank of Japan's rate decision tomorrow where it is expecte... Read More

On 18-12-2008

The USD surged higher in NY trading, gaining back an amazing nearly 500 pips from its overnight low against the EUR. EUR/USD topped out around 1.4720, just beyond the 200-day moving average a... Read More

On 18-12-2008

The USD fell further in European trading, but the losses became increasingly concentrated against the EUR. EUR/USD broke over the key psychological resistance level of 1.4500 and jumped higher a... Read More

On 17-12-2008

The USD crumbled further today in NY trading as concerns over exploding US budget deficits led to a further exodus from the greenback. EUR had its' largest one-day move higher against the USD... Read More

On 17-12-2008

The US dollar recovered from fresh overnight lows during European trading, but concerns remain about the fate of the dollar following yesterday's larger-than-expected Fed rate cut. EUR/USD fell ... Read More

On 16-12-2008

The USD consolidated at low levels against European currencies, but dipped under the key psychological level of 90.00 against the JPY, ahead of an expected rate cut from the Fed in the NY afternoon.&n... Read More

On 16-12-2008

The USD was decimated in NY trading today, collapsing across the board as the Fed slashed its target Fed Funds rate to a range of between 0.00% and 0.25%. More importantly, the Fed committed ... Read More

On 11-12-2008

The US dollar was clobbered some more in London trading as the recent deterioration in the economic outlook continues to weigh on the currency. Risk taking in equities was nonexistent as Euro... Read More

On 11-12-2008

Today we saw a pretty active day in Asian FX, especially as the session came to a close and the Euro made some huge moves on the back of news that the planned $15 billion auto rescue plan was going... Read More

On 10-12-2008

Risk appetite came back to the fore in the NY session as markets remain hopeful that a bailout for the US automakers will pass before the weekend. The House of Representatives is currently de... Read More

On 10-12-2008

The price action was relatively mild in London as another dovish batch of economic data from across the pond helped the buck catch a modest bid. Inflation in the Euro-zone continues to look l... Read More

On 09-12-2008

The buck was sold for the most part in NY trading despite resurgence in the flight to safe assets. US stocks plunged more than -2% in broad terms as the recent string of rallies could not be ... Read More

On 09-12-2008

Poor economic data from across the pond helped the buck catch a modest bid in the London session. The German ZEW survey of current economic conditions plunged to a weaker than expected -64.5 ... Read More

On 09-12-2008

The US Dollar made some significant gains against the Euro as rumors of poor upcoming German ZEW data later in the session was said to fuel Euro selling. A continued drop in German investor confide... Read More

On 08-12-2008

The price action took a breather in London trading on the back of some big moves overnight. The Obama stimulus package ostensibly has given the market a reason to put risk back on. The ... Read More

On 08-12-2008

The risk appetite remained insatiable in NY trading as the Obama stimulus plan continued to provide support for equities while the news that a bailout for the US auto manufacturers is moving forwar... Read More

On 05-12-2008

After a big data week in the Forex markets, the Asia session ended rather quietly as most traders were awaiting the US November non-farm payroll data tomorrow in New York. The US Dollar was mixed a... Read More

On 04-12-2008

With the Reserve Bank of New Zealand's rate cut now history, we have the BoE and ECB later today to finish this week's rate cut activity until the FOMC comes into focus next week. To jump start the... Read More

On 04-12-2008

The FX market decoupled from its usual relationship with risk aversion as rate cuts across the pond trumped any weakness here in the United States. The Bank of England cut -100bps as expected... Read More

On 04-12-2008

The London session was rather lackluster initially as the markets awaited the BOE and ECB interest rate decisions in early NY trading. Economic data continued to come in weak but was overall ... Read More

On 03-12-2008

Not even another bad batch of economic data could keep stocks from rallying ahead of what is expected to be aggressive rate cuts out of the Bank of England and the European Central Bank tomorrow in... Read More

On 03-12-2008

Poor economic data across the pond led European bourses lower overnight and put a bid under the FX risk aversion trades on the follow. Euro-zone ... Read More

On 03-12-2008

After some initial strength on the back of weak equities to start the session, the Yen soon collapsed as stocks firmed and the Nikkei made gains near 2%. The early drop in USD/JPY saw a level of 92... Read More

On 03-12-2008

The NY session saw the price action in FX whip around but would ultimately see most of the majors close near the open. Equities in NY jumped 4% as the restructuring in the US auto manufacturi... Read More

On 02-12-2008

A new week and a new direction for the equity markets.....Down. Last week's equity gains in the US were quashed as the DOW dropped over 7%, the ISM manufacturing survey hit a 26 year low, and the N... Read More

On 02-12-2008

The buck was sold modestly in what was a rather lackluster London trading session. Euro-zone producer prices came in much lower than expected at -0.8% for October. This suggests inflati... Read More

On 01-12-2008

This new week in Asia can be summed up by one theme, rate cuts. The coming week will see central bank meetings with the Bank of England, European Central Bank, Reserve Bank of Australia, and the Re... Read More

On 01-12-2008

US stocks plunged as poor data coupled with a somber assessment of the economy by Fed Chairman Bernanke led equities down nearly -9% in NY. The rout erased most of the gains witnessed last we... Read More

On 01-12-2008

The buck was bid in London trading as the flight to safe assets continued. Global stock markets headed lower with Asia slipping about -2% while European bourses were down closer to -3% thus f... Read More

On 28-11-2008

And the Asian week ends with a whimper as most FX pairs trade in small ranges to conclude the US holiday shortened week. As mentioned yesterday, now that the holiday in the US and the terrorist att... Read More

On 27-11-2008

The US Dollar lost its footing in Asia in thin, choppy trading ahead of the US Thanksgiving holiday as investors wondered if the Buck could keep its strength in the near term amid talk that the US ... Read More

On 26-11-2008

Although news of the Federal Reserve's $800 Billion plan to unfreeze credit markets caused initial elation in the Yen crosses in NY trading, quite the opposite occurred in Asia as investors feared ... Read More

On 25-11-2008

The flight to risk witnessed overnight held up in the NY session as the pre-open gains on the news of yet another government bailout (to the tune of $800 billion) held up. Stocks ended the da... Read More

On 25-11-2008

The risk trade was pared in London trading on the back of the fallout of the $66 billion hostile takeover of Rio Tinto by BHP Billiton. This sent a small shockwave through equity marts as it ... Read More

On 25-11-2008

Earlier in NY, US equities extended their gains from Friday as investors looked favorably on the Citibank bailout plan as well as the announcing of the new Obama economic team. The stock gain... Read More

On 24-11-2008

The upswing in risk taking on the back of the announced bailout of a major US bank continued into the NY session. US stocks surged more than 6% in what was the biggest two-day gain since the ... Read More

On 24-11-2008

Week of November 23, 2008

Risk came back to fore modestly in the London session as news of yet another bailout of a major US bank sent positive shock waves through global equity marts. Europe led the way higher and had a... Read More

On 23-11-2008

Risk appetite dictating the pace in a very emotional marketRisk appetite continued to dictate the pace in very emotional markets this week. US stocks got decimated nearly ... Read More

On 21-11-2008

After another disastrous day for US equities and news that the US Congress would delay the possibility of loans to the ''Big Three'' automakers we saw losses extend to Asian stocks and the Yen stre... Read More

On 20-11-2008

In an otherwise rather quiet trading session, the SNB surprised markets by cutting rates 100 bps to 1% as London trading was coming to a close. This led to a bit of a pop in the risk trades a... Read More

On 20-11-2008

The action has picked up a bit in Asia this session as investors hurried to buy Yen amid profound risk aversion due to the fears that are swirling in lieu of the current global recession fears and ... Read More

On 19-11-2008

This session's big question would have to be whether the moves (or lack thereof), that we saw are a return to the markets prior to the credit turmoil, or a proverbial ''calm before the storm''. I d... Read More

On 19-11-2008

The NY session saw all of the action come in the closing hours once again and the flavor was a flight to risk aversion. US stocks plunged more than -6% on the day in broad terms as the FOMC m... Read More

On 19-11-2008

The minutes from the Bank of England meeting showed a unanimous vote to slash rates and this helped Sterling higher in the London trading, in an otherwise rather uneventful session. Economic ... Read More

On 18-11-2008

The US Dollar was again a beneficiary of the prevalent risk aversion amidst the reality that no new plans would come out of the G20 meeting. With global economies facing certain recession and US st... Read More

On 18-11-2008

US equities managed a last minute rally which saw stocks reverse more than 4% from the intraday lows and close up about 1% for the day. This helped to keep risk trades in FX land mostly above... Read More

On 18-11-2008

The buck rallied against the majors in London trading as risk aversion was once again in vogue. Global equity marts remained weak with Asia shedding about -3.5% and European bourses down abou... Read More

On 17-11-2008

The price action in the NY session was on the light side as correlations between FX and stocks broke down some. US stocks plunged more than -2.5% as a last minute selloff capped what was an o... Read More

On 17-11-2008

Euro lost some ground in London trading as risk aversion came back to the fore and the ECB's Weber provided a somber assessment of the Euro-zone economy. European bourses could not hold on to... Read More

On 17-11-2008

The new week started out with a much stronger Yen as the G20 meeting ended with all members nodding their collective heads that the global economy was bad, but with no real plan of action to combat... Read More

On 14-11-2008

After a huge run up in the US Dollar as equities staged an 11% turnaround late in trading, the Yen and Euro gained back some ground as traders felt that the upcoming G20 meeting will fail to put an... Read More

On 13-11-2008

The Yen retreated versus the US Dollar and Euro as the slump in equities, commodities and oil brought risk aversion back in full force, but failed to quell talk of BoJ intervention as the RBA inter... Read More

On 13-11-2008

The buck gave back some overnight gains in London trading despite poor economic data out of the Euro-zone and the continued move away from risk trades. German GDP was the highlight and it cam... Read More

On 13-11-2008

The NY session started out like every other day this week so far, with risk aversion in vogue. This turned out to be a major head-fake as US stocks would put in a huge rally and close up near... Read More

On 12-11-2008

It was another session of ''follow the leader'' as early Asian equity losses due to the troubled US auto industry drove investors to buy the Yen across the board. As stocks pared their losses, and ... Read More

On 11-11-2008

As has been the cycle of one day optimistic, the next day pessimistic, today the optimism over yesterday's China bailout was replaced with pessimism over today's news about Circuit City's bankruptc... Read More

On 11-11-2008

On 11-11-2008

The London session was very tame and saw the USD move slightly higher against most of the majors. In terms of economic data, the pleasant surprise was the better than expected German ZEW read... Read More

On 10-11-2008

The week started in a festive mood today as traders rejoiced to the news thatChina unveiled a 4 trillion Yuan stimulus plan yesterday, much to the pleasure of the IMF. Asian equities we... Read More

On 10-11-2008

The NY session saw the risk trades that prevailed overnight come off as poor company earnings reports eclipsed the positive headline reaction from the China stimulus plan. US stocks reversed mor... Read More

On 10-11-2008

News that China will introduce its own stimulus plan looks to have global stock markets content as the risk trades gained in the London session. Asian marts rose more than 4% while European b... Read More

On 06-11-2008

The NY session was all about digesting the BOE and ECB rate cuts and accompanying press statements. The market did not take it well. US stocks plunged more than 5% on a slow and painful... Read More

On 06-11-2008

Trading in the London session was pretty lackluster right up until the BOE and ECB rate cuts. The Bank of England came in and cut rates by a much sharper than expected -150 bps while the Europea... Read More

On 06-11-2008

It seems that the post US election elation was short lived as Asian stocks came crashing down just like their US counterparts did earlier in the day, thus bringing back risk aversion to the FX mark... Read More

On 06-11-2008

The buck had a mixed session in NY as poor US economic data set the tone early and a US stock market rout late in the day saw the USD come back smartly. The ADP employment report ... Read More

On 05-11-2008

Today's Market Update

On 05-11-2008

Week of November 2, 2008

Is it safe yet?Good riddance October. A month that began with much hope as the US government pursued the housing/financial sector rescue package ended with unprecedented c... Read More

On 05-11-2008