Every day, equities, currency and bond traders weigh the good news with the bad to determine if they want to buy or sell.
Today, there were just as many positive reports that should have helped to stabilize the markets but has instead failed to stem the bleeding in equities and currencies.
In a [...]

Posted in Australian Dollar, British Pound, Canadian Dollar, Carry Trades, ECB, Forex News, US Dollar, USD/CAD, currency trading ranges, election dollar, euro oil, forex blog, forex trading calendar, usd/jpy 1 Comment »

On Monday, I blogged about all of the reasons why I like USD/CAD. At that time, the currency pair was trading at 1.1889 and it is now 200 pips higher.
The resistance level that I have been watching was 1.20. As long as the currency pair closes above that level, there is no major [...]

Posted in Canadian Dollar, Forex Technicals, euro oil, forex blog 1 Comment »

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 »

Unlike the other major currencies, the EUR/USD has not joined in the rally today. For currency traders looking for an explanation, the answer is OIL.
Crude prices have fallen for the third trading day in a row and have even broken below $70 a barrel. Since the beginning of the year, there [...]

Posted in ECB, Federal Reserve, Forex News, US Dollar, US Economy, euro, euro oil, forex blog 3 Comments »

The European Central Bank President has finally buckled under the weight of bank failures, recessions and slower global growth. Although the ECB left interest rates unchanged at 4.25 percent this morning, Trichet has paved the way for an interest rate cut before the end of the year. This has driven the Euro to [...]

Posted in Euro Intervention, Forex News, Forex Podcast, Oil, Trichet, ecb rate cut, euro, euro oil, forex blog No Comments »