Forex News: Sep 9, 2009
- Australian Recovery Losing Steam as Retail Sales, Lending Tumble- UK Consumer Confidence Rose to Highest in Over a Year, Says Nationwide
- The Dollar Tumbles to 2009 Low
- EUR Rises Above $1.45 as Risk Appetite Returns
- Yen Extends it
Euro Approaches 9-Month High Versus Dollar on Recovery Signs
The euro approached a nine-month high against the dollar before a report forecast to show French industrial production rose for a third month in July, adding to evidence the region’s economic recession is easing.
The US Dollar Is Diving
Is the U.S. dollar losing its luster as the world’s international reserve currency? If today’s price action is any indication, the greenback is chugging along like a tired old caboose.
Commodity prices Surprise with Bullishness as USD Weakens
For instance, the USD fell to its lowest in almost a year during yesterday trading session after gains in global stocks. Gold has also shocked the market lately with continues uptrend, rising above $1000 for the first time since March 2008.
UK consumer confidence reaches highest for more than a year
UK consumer confidence has reached its highest level in more than a year amid fresh evidence that the economy is pulling out of the worst recession in decades.
Oil extends dollar-led gains; OPEC
Oil prices rallied above $71.50 a barrel on Wednesday, extending the previous session's dollar-driven 4.5 percent rally as investors waited for an OPEC meeting to conclude and fresh U.S. inventory data.
Yen to Strengthen Against Dollar Over Next Few Months
The yen may rise against the dollar as it’s replaced as the favored currency for so-called carry trades, according to Royal Bank of Scotland Group Plc.
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
EURJPY closed @ 13370 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak a
Daily outlook on EURUSD, GBPUSD 09-09-09
Upside is under renewed pressure as the euro managed to break out of its recent range which has been limited on the upside by the 1.4400-1.4450. A fresh YTD high has been reached on yesterday’s rally at 1.4535 and the euro holds steady against th
Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
USDCHF closed @ 10475 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 15 pips from Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bearish but Oversold an
Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
EURUSD closed @ 14480 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 3 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Overbough
Daily Economic Roundup - September 9, 2009
End of summer... End of low liquidity... End of the greenback?! After the UN urged for reducing the greenback's role in global trade, most majors trampled on the USD. Will they be able to sustain this rally today? Find out on today's economic rou


