This morning, the sun is shining on New York City and on Wall Street.
President-elect Barack Obama was one of the few people that could have restored confidence in the financial markets through the appointment of a Cabinet members that the market trusts and a clearer plan of action for tackling the economic crisis. [...]

Posted in Citigroup Layoffs, Crude Oil Prices, Existing Home Sales, Fed Rate Cut, Forex News, Forex Podcast, US Dollar, US Economy, dollar intervention, dollar rally, forex blog, obama dollar 2 Comments »

Even though the lack of meaningful US economic data has kept the US dollar in flux, there is one commodity that is continuing to grind lower. Oil prices fell to the lowest level in 20 months as exporters wake up to reality that crude prices may stay at current levels for some time. [...]

Posted in Canadian Dollar, US Dollar, dollar earnings, dollar intervention, eur/usd, euro oil, forex blog, oil dollar No Comments »

US equities turned as traders realize that everyone is pinning too much hope on China. The reality is that China’s stimulus plan will not save the global financial and economic crisis. Instead, the only thing that is assured is that at one fifth of 2007 GDP, China will have less money to spend [...]

Posted in Bank of Canada, Bank of England, British Pound, Canadian Dollar, Crude Oil Prices, Fed Rate Cut, Fed Rate Cut Expectations, dollar earnings, dollar intervention, eur/usd, forex blog No Comments »

The type of moves that we have seen in the currency market during the Asian and European trading sessions are typically what we see in a quarter or a half year. USD/JPY has fallen 5 percent, AUD/USD is down more than 8.5 percent while the NZD/USD is down 7 percent. The sell-off in [...]

Posted in Bank of Japan, British Pound, Canadian Dollar, Carry Trades, Dow Futures Carry Trades, ECB, FX Radio, Fed Rate Cut, Federal Reserve, Forex News, Forex Podcast, Japanese Yen, Oil, US Dollar, US Economy, dollar intervention, dow 1907, eur/usd, euro, forex blog, oil dollar 2 Comments »

The Congressional agreement of the $700 Billion bailout plan has proved to be anti-climatic for the stock and currency markets. There was a relief rally in the US dollar Sunday evening, but it lasted for no more than a blink of an eye as more problems came knocking on the door for financial institutions. [...]

Posted in Bank of England, Bank of Japan, Bernanke, Bloomberg, British Pound, Canadian Dollar, Carry Trades, Fed Rate Cut Expectations, Federal Reserve, Forex News, Forex Podcast, Intervention, US Dollar, bank holding companies, bank safe, consumer confidence, consumer spending, dollar earnings, dollar intervention, dollar rally, euro, fed liquidity dollar, forex blog No Comments »