We had a number of surprises in U.S. economic data this morning including the Philly Fed index and leading indicators, but the biggest surprise was definitely the decline in continuing claims. Since the beginning of the year, continuing claims, which measures the number of people continuing to claim unemployment benefits rose week after week, [...]

Posted in 2009 eurusd forecasts, continuing claims recession, dollar recession, euro, forex blog, jobs 6 Comments »

The US dollar is selling off aggressively ahead of Friday’s non-farm payrolls report on the fear that for the second month in a row, job losses may have topped 500k. The recent moves in the currency and equity markets suggest that everyone expects a very weak labor market report. Although the consensus forecast [...]

Posted in 2009 currency forecasts, 2009 us dollar forecast, Fed Rate Cut, Forex News, US Dollar, US Economy, dollar recession, forex blog, non-farm payrolls 4 Comments »

Concerns about the US economy are growing as the Dow Jones Industrial Average erases all of its year to date gains, taking the US dollar down with it. The rally that we have seen in the first few days of trading will be difficult to sustain with all of the weak economic data that [...]

Posted in Currency forecasts, Fed Rate Cut, Forex News, GDP, dollar forecast, dollar recession, forex blog, non-farm payrolls 4 Comments »

With no US economic data on the calendar today, the dollar weakened against every major currency except for the British pound. Trading continues to be very thin with commodities being the only products that are really moving. The tensions in the Middle East have driven oil and gold prices higher. US stocks [...]

Posted in Forex News, dollar recession, eur/usd, forex blog, forex signals 3 Comments »

The US dollar appears to be unfazed by this morning’s mixed economic data. An improvement in consumer confidence has failed to help the dollar while the weaker news has pretty much been baked into the markets.
Christmas and New Years week is a time when traders are more focused on seeing family than making [...]

Posted in Crude Oil Prices, Forex News, Oil, US Dollar, US Economy, consumer confidence, consumer spending, dollar earnings, dollar recession, forex blog, gas prices, oil dollar, weak dollar earnings 5 Comments »