Since July, oil prices haven fallen approximately 50 percent. For many people, the drop in oil is a welcome relief but for oil producers, the price of crude has reached levels that could turn budget surpluses into deficits.
According to a report released by the IMF yesterday on the Economic Outlook for the Middle [...]

Posted in ECB, Forex News, Japanese Yen, Oil, US Dollar, US Economy, oil dollar No 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 »

The eyes of everyone from investment managers to stock and currency traders were glued to testimony of the 3 biggest players in the latest financial crisis. US Treasury Secretary Paulson, Federal Reserve Chairman Ben Bernanke and SEC Chairman Cox urged the Senate Banking Committee to approve their request for $700B of taxpayer money. Instead [...]

Posted in Bernanke, Currency forecasts, Dow, Fed Rate Cut Expectations, Federal Reserve, Forex News, Oil, dollar rally, euro, fannie mae freddie mac, forex blog, oil dollar, paulson 2 Comments »

With Hurricane Gustav being downgraded to a tropical depression, the Hurricane Premium is off the table. Oil prices have plunged more than $10 a barrel since Friday with $100 a barrel now within striking distance. The rally in the US dollar is a direct result of the fall in oil prices. Since [...]

Posted in Canadian Dollar, Crude Oil Prices, ECB, Forex News, Oil, US Dollar, US Economy, consumer spending, dollar rally, eur/usd, forex blog, gas prices No Comments »

Here is an article that I posted on GFT’s website. Boris and I will be publishing our articles there until we launch our new portal, which we are sure will blow your minds. I will also be publishing a daily wrap up of the currency market that I hope you will like - check [...]

Posted in GFT, Oil, dollar rally No Comments »