2008 October | Forex trading & Analysis

U.S better than expected GDP figures

30. October 2008

Share A report today showed The U.S economy contracted by 0.3% , smaller than the expected 0.5%, still this is the sharpest contraction in seven years. Consequently the dollar was able to maintain its gains against the Yen today trading around 98 USDJPY. EURUSD has completed 900 pips move up from 1.24 since 28 of October ( [...]

On Today’s meeting the Fed is expected to cut rates

29. October 2008

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Share Later today the Federal reserve is expected to cut its target lending rate by most likely half a point ( from 1.5% to 1%). However there is a slight chance the Fed will cut rates by 0.75 basis points. The Fed’s statement is scheduled at 18:15 GMT, The expected cut is already effecting the Forex market as [...]

Yen retreats as stocks rebound

28. October 2008

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Share Tuesday’s trading began with a considerable correction of the recent Yen move against other currencies. This was moderately due to high gains in stock markets around Asia.Â Since last September, the correlation between the NIKKEI 225 ( the Japanese main stock index) and the USDJPY has beenÂ stronger than usual. This fact creates some interesting opportunities [...]

Yen trading with Excessive volatility

27. October 2008

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Share last Friday the Yen have breached a 13 year high against the dollar printing 90.80Â before correcting back to 93. The last time we have seen these levels on the USDJPY was in 1995. To see a major pair like USDJPY trading from 100 to around 90 in a matter of a few days is something [...]

Euro weakness sends EURUSD to new Lows

21. October 2008

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Share (14:00 GMT) The pair broke through its support at 1.3260 today with much ease, and is already trading under 1.3200. The market is basically disregarding the impact of the current crisis on the American widening deficit. Most investors are concentrated on future monetary actions of the European Central Bank with the consensus that further rate cuts are on [...]