2009 January | Forex trading & Analysis

Anarchy in the UK

31. January 2009

Share Seeing as the GBP is the third most traded currency in the forex market, it couldnâ€™t possibly hurt to learn a little about the UK economy, of which it is representative. Although the United Kingdom belongs politically to the European Union, it has decidedly refused to join in the monetary and economic [...]

U.S economy shrinks by 3.8% less than expected.

30. January 2009

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Share 16:00 GMT The U.S economy shrank at a pace of 3.8 percent at the end of 2008. Less than the -5.4% that analystsÂ forecast prior to the report. Although better than expected this is still the worst contraction seen in the last 25 years. The forex market did not react with enthusiasm so far, EURUSD is trading slightly [...]

Ahead of U.S GDP report

30. January 2009

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Share Deepening concerns over the global recession prompt risk aversion in the market once more. It seems we are moving in short cycles of temporaryÂ confidence – where investors join the market trying to take advantage of low prices,Â verses short cycles of temporary fear – where investors withdraw their positions fearing things are going to get [...]

Australia Revealed Bad Private Sector Credit Data

29. January 2009

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Share Australia’s december private sector credit shrank into negative region for the first time since 1992 as banks cut lending to local companies amid the global credit crunch. Analysts now expect a bigger cut in interest rateÂ next month on the Aussie dollar. Aussie dollars has slipped towards 0.6450 against USD while also weakening against other major currencies [...]

Dollar advances further triggered by grim economic reports

29. January 2009

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Share three major US economic reports today turned out worse than expected. U.S core Durable good ordersÂ – (which is the Change in the total value of new purchase orders placed with manufacturers for durable goods) Unemployment Claims (the number of out-of-work Americans receiving unemployment checks ) and New Home Sales have all printed worse numbers than was [...]