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ECB Gold Reserves -EUR6 Million, Forex -EUR1.8 Billion In Week To July 31

2009-08-04T16:57:00.000-07:00

The Eurosystem's reserves of gold and gold receivables decreased EUR6 million to EUR232.12 billion in the week ended July 31, the European Central Bank said Tuesday.

Euro remains around 1.4400 ahead of Wall Street opening

2009-08-04T16:51:00.000-07:00

The Euro has remained consolidating in a range from 1.4375 to 1.4430 during most of the Asian and European trading sessions, after the 300 pips rally performed over the previous two days.

U.S. markets have opened with moderate losses

2009-08-04T16:49:00.000-07:00

U.S. markets have opened with moderate losses on Tuesday, after S&P 500 index topped at 1,000 level, its highest since November 2008, and on the back of the largest decline on Personal Income seen in the last four years. Euro and Pound continue trading within rather tight ranges, right below yesterday highs.

Peru's Central Bank May Continue Cutting Policy Rate

2009-08-04T16:03:00.000-07:00

The central bank's board of directors will decide Thursday whether to continue cutting the policy rate, which it has slashed by 450 basis points this year.

Dollar above 95.00/10 resistance after U.S. housing data

2009-08-04T16:01:00.000-07:00

The Dollar is picking up momentum on early U.S. session, and the pair, after dropping to 94.35 low has returned to trade above 95.00/10 resistance area, on the back of positive U.S housing data.

US Pending Home Sales Rise 3.6% In June

2009-08-04T15:56:00.000-07:00

Pending home sales in the U.S. climbed a fifth month in a row in June, the longest streak in six years and another sign of recovery in the housing sector.

Euro approaches 1.4435 intra-day high after Pending Home Sales

2009-08-04T15:54:00.000-07:00

The Euro has moved slightly up after the fifth consecutive rise on U.S. pending home sales, and the pair has ticked up from 1.4390 to 1.4430, approaching intra-day high at 1.4435.

Dollar, Yen Rise As Global Equities Pare Gains

2009-08-04T15:51:00.000-07:00

The dollar, along with other low-yielding currencies such as the yen, got a lift as international equities markets pared gains Tuesday, while the Australian dollar slipped after that country's central bank dropped its easing bias.

GBP/USD tests 1.6900 level and posts intra-day lows

2009-08-04T09:01:00.000-07:00

After falling around 80 pips in the last hour, the Sterling has lost its position above 1.69 level against the Greenback, declining from 1.6970 to break 1.6910 support and post 1.6890 as fresh intra-day low.

Brazil's Central Bank Buys Dollars At BRL1.8364

2009-08-04T08:57:00.002-07:00

After rising around 60 pips in the last hour from 94.78 to post intra-day high at 95.37, USD/JPY has extended its recovery from 94.35 in the early European morning to ease all of previous losses and trade 0.20% above today's opening price.

USD/JPY's recovery from 94.35 continues to 95.35

2009-08-04T08:57:00.001-07:00

EUR/USD Current Price: 1.4408

2009-08-03T18:22:00.000-07:00

EUR/USD Current Price: 1.4408. Consolidating above 1.4400 for the past 9 hours, over bought conditions remains, and no signs of corrections yet as strong sentiment supports further rises in the pair.

Light EUR/JPY selling, only flows of note

2009-08-03T18:10:00.000-07:00

It has been an extremely quiet session so far after big moves overnight. The EUR has lost some ground against all the other majors with a EUR/JPY flow being blamed. Dealers seem to be leaving all other pairs well alone.

Australia Business Conditions Stable; Rebound Coming-CBA/ACCI

2009-08-03T18:09:00.000-07:00

Australian business conditions stabilized through the second quarter of 2009, with expectations for the third quarter suggesting a pickup is on the way.

Placing an Order

2009-08-03T17:05:00.000-07:00

Online Forex traders that want to place an order need to click on the buy/sell button after specifying the chosen currency pair and the desired number of units to trade. The buying and selling price that is determined is the same as the price seen last in the site after updating the page.

Limit if Touched Orders (LIT)

2009-08-03T16:46:00.000-07:00

Market if touched orders are identical to stop orders, except that they are used when the market price has already traded past the stop price, and the trader only wants the order to be processed if the market price comes back to the stop price. For example, if the market price is 1.3010, and the trader places a buy market if touched order with a price of 1.3001, the order will only be processed if the market trades at or below 1.3001.

Stop Limit Orders (STPLMT)

2009-08-03T16:45:00.000-07:00

Stop limit orders are a combination of stop orders and limit orders. Like stop orders, they are only processed if the market reaches a specific price, but they are then processed as limit orders, so they will only get filled at the chosen price, or a better price if there is one available. For example, if the current price is 1.2567, a trader might place a buy stop limit order with a price of 1.2572.

Stop Loss Orders - Market or Limit?

2009-08-03T16:28:00.000-07:00

Stop loss orders are designed to limit the amount of money that a trade can lose, by exiting the trade if a specific price (that is against the trade) is reached. For example, a trader might enter a long trade at 4,000, and place a stop loss order at 3,950. If the price goes against the trade and reaches 3,950, the stop loss order will be filled, which will exit the trade, thereby limiting the loss to 50 points.

Ebay's PayPal shut down for 1 hour

2009-08-03T16:25:00.000-07:00

EBay Inc's (EBAY.O) online payments service, PayPal, shut down worldwide for about an hour on Monday after the Internet retailer encountered "internal" problems, the Wall Street Journal reported on Monday.

Carrols Q2 profit beats Street, ups 2009 profit view

2009-08-03T16:21:00.000-07:00

Carrols Restaurant Group Inc (TAST.O) reported a quarterly profit that handily beat Wall Street estimates, as the quick-service restaurant operator kept a tight lid on costs, and raised its 2009 profit outlook, lifting its shares as much as 9 percent in after-market trade.

GLOBAL MARKETS-Banks, China kick equities to 2009 high

2009-08-03T15:26:00.000-07:00

World stocks shot up to yet another new 2009 high on Monday with banking news from Europe and signs of a pick up in Chinese economic activity driving investors to buy.

Dollar index hits 2009 trough, stocks, oil rally

2009-08-03T15:24:00.000-07:00

Global stocks surged to a nine-month high on Monday as improved economic data from the United States and China spurred investors' appetite for risk.

GLOBAL MARKETS-U.S. data fuels stocks rally, hunt for risk

2009-08-03T15:22:00.000-07:00

Global stocks surged to a nine-month high on Monday as improved economic data from the United States and China spurred investors' appetite for risk.

Dollar Down As Manufacturing Tops Forecasts

2009-08-03T15:10:00.000-07:00

The "Cash for Clunkers" auto rebate program is not only helping automakers; it is also likely to boost steel and aluminum producers who supply the metals to Detroit carmakers, analysts said on Monday.

GBP/USD holds above 1.6900

2009-08-03T15:05:00.000-07:00

After a big rally that brought the Pound to fresh 2009 highs, GBP/USD pullback finding support at 1.6910. The pair is 1.30% above today’s opening price rising for the third consecutive day. Cable has accumulated an increase of more than 550 pips since Thursday. The pair topped today at 1.6987 posting the highest price since October 21.

Risk on again- JPY crosses surge

2009-08-03T14:58:00.000-07:00

The effects of the global financial crisis in the FX market were exacerbated by excessive leverage and the carry trade. The market got itself hugely long in pairs like GBP/JPY and AUD/JPY and it now looks like it wants to do the same thing again.

Colombia Peso Gained 1.5%; Stocks Up, Tracking DJIA

2009-08-03T14:55:00.000-07:00

The Colombian peso gained strongly Monday, tracking a U.S. stock-market rally amid confidence that the world economy will recover and as risk aversion eased.

Russian Manufacturing Shows ‘Modest’ Decline in July, PMI Shows

2009-08-03T14:47:00.000-07:00

Russia’s manufacturing industry shrank last month at the slowest pace since September as new business grew after a nine-month contraction,VTB Capital said.

Turkey Inflation Rate May Fall Close to 39-Year Low: Week Ahead

2009-08-03T14:45:00.000-07:00

Turkey’s inflation rate probably fell close to a 39-year-low in July, strengthening the case for further cuts to the benchmark interest rate, a survey showed.

U.K. Slump for Smaller Manufacturers Eases, CBI Survey Shows

2009-08-03T14:40:00.000-07:00

A survey of U.K. small and medium- sized manufacturers showed output and orders falling at a slower pace, the Confederation of British Industry said.

Weaker Europe Recovery Than U.S. Means Bonds Preferred to Stock

2009-08-03T14:31:00.000-07:00

Dwindling profits, slowing investment and the highest unemployment in a decade risk damping Europe’s recovery from the worst recession in six decades, even as signs of a rebound emerge.

Pound Jumps to Nine-Month High Versus Dollar After HSBC Profit

2009-08-03T14:28:00.000-07:00

The pound climbed to its highest level in more than nine months against the dollar on signs that U.K. banks and manufacturers are recovering from the worst recession since World War II. Gilts declined.

Canada’s Dollar Climbs to Highest in 10 Months as Stocks Gain

2009-08-03T14:27:00.001-07:00

Canada’s dollar reached the highest in more than 10 months against its U.S. counterpart as greater- than-forecast corporate earnings prompted investors to seek riskier assets such as stocks and commodity-linked currencies.

Aussie Poised for 10-Month High Against Yen: Technical Analysis

2009-08-03T14:23:00.000-07:00

The Australian dollar may gain 9 percent to a 10-month high against the yen over the next three months, according to Standard Chartered Plc.

Dollar May Underperform Major Currencies Except Yen, UBS Says

2009-08-03T14:18:00.000-07:00

“The improvement in the global-growth outlook makes it easier for growth-sensitive currencies to continue their outperformance,” Geoffrey Yu, a currency strategist in London, wrote today in an investor report. “All major currencies bar the yen are still expected to outperform the dollar in the current risk environment.”

Futures Industry Group Restricts Offsetting Currency Positions

2009-08-03T14:14:00.000-07:00

The National Futures Association began enforcing a currency trading rule that requires dealers to record small investors’ offsetting trades in a way that clearly shows whether the investors are profiting or losing money.

Colombia’s Peso Advances as Oil Rallies; Chilean Peso Gains

2009-08-03T14:12:00.000-07:00

Colombia’s peso gained for a third day after crude oil, the nation’s biggest export, rose above $72 a barrel amid speculation the global recession is easing.

Mexico Losing Trader Confidence as Peso Proves Worst

2009-08-03T14:07:00.000-07:00

Foreign-exchange traders are losing faith that Mexican President Felipe Calderon will push through the tax increases needed to rein in the budget deficit and stem a rout that has made the peso the worst-performing major currency in the past year.

Dollar Drops to Lowest Level Since Weeks After Lehman Collapsed

2009-08-03T13:59:00.000-07:00

The dollar fell to the lowest versus the currencies of six major U.S. trading partners since the weeks after Lehman Brothers Holdings Inc.’s September bankruptcy as signs the recession is easing reduced safety demand.

GBP/USD holds above 1.6900

2009-08-03T13:25:00.000-07:00

Brazil's Central Bank Buys Dollars At BRL1.8314

2009-08-03T13:09:00.000-07:00

The central bank didn't reveal the volume of dollars it purchased. The central bank has been buying dollars at snap auctions on an almost daily basis since March in an effort to build foreign reserves. Reserves now stand at over $210 billion.

USD/CHF tries to get back above 1.0600

2009-08-03T12:52:00.000-07:00

The Dollar is collapsing today against European currencies after breaking key levels. USD/CHF is not the exception; the pair plunged to 1.0561 reaching the lowest price of the year. From there rebounded and now the Dollar is attempting to recover further. Currently USD/CHF is facing resistance at 1.0600. Current price at 1.0592/96 is 0.75% below today’s opening price.

Czech Budget Deficit Widened In July To CZK76.16 Bln

2009-08-03T12:48:00.000-07:00

The Czech state budget deficit widened to 76.16 billion koruna ($4.24 billion) in the first seven months of 2009, from CZK68.26 billion in the six months to the end of June, as expenses outpaced collection of tax revenues in the ongoing recession, the Finance Ministry said Monday.

Pound, at 1.6850 after hitting year high at 1.6879

2009-08-03T12:41:00.000-07:00

The Pound is trading at levels around 1.6850 after rally from 1.6475 low on Friday extended to 2009 low at 1.6875 on early European session

Romania Jul Forex Reserves Reach EUR27.33B -MediaFax

2009-08-03T12:34:00.000-07:00

Romanian foreign exchange reserves rose EUR860 million in July to total EUR27.326 billion, news agency Mediafax reports the central bank as saying Monday.

Romania Forex Reserves Hit Record Of EUR27.33B In July

2009-08-03T12:32:00.000-07:00

Romanian foreign-exchange reserves rose EUR860 million on the month in July to a record high of EUR27.326 billion, after loans taken out by the Finance Ministry, news agency Mediafax reports the central bank as saying Monday.

Euro hits 1.4326; right below Jun high at 1.4339

2009-08-03T12:29:00.000-07:00

Euro rally from 1.4100 on Friday has extended to levels above 1.4300 as the Euro reached 1.4326, right below 2009 high at 1.4339. At the moment, the Euro trades at 1.4315,0.30% above its day-opening price.

Asian Shrs End Higher; PMI Data Help Shanghai Stocks

2009-08-03T12:25:00.000-07:00

Asian markets ended mostly higher Monday, with resource and shipping shares jumping in line with commodity prices and as data showed Chinese manufacturing activity continued to gather pace in July.

Dollar Down With Eyes On Manufacturing Data

2009-08-03T12:20:00.000-07:00

The dollar fell to multi-month lows on Monday after a handful of reports showed manufacturing overseas was recovering, and a similar report in the U.S. is expected to show the sector in July was the best it has been since last August.

U.S. markets open with moderate gains; Dollar, testing year lows

2009-08-03T12:19:00.000-07:00

U.S. markets have opened the week with moderate gains, with commodities and financials leading advances. Euro and Pound are testing 2009 highs.

Peru's Key GDP Sectors Decline In June - Govt Agency

2009-08-03T12:15:00.000-07:00

The mining and hydrocarbons sector, an important motor of the Andean nation's economy, contracted 2.28% in June, because of lower zinc, lead, iron and tin output, the agency said in a report.

Euro soars past 1.4350, 2009 high, after U.S data

2009-08-03T12:14:00.000-07:00

Euro Dollar has soared from levels around 1.4320 to 1.4400 high after U.S. ISM Index and Construction Spending posted better than expected readings, suggesting economic improvement in the U.S.

US Jun Construction Up Twice In Three Months

2009-08-03T12:10:00.000-07:00

Spending on U.S. construction projects unexpectedly rose in June, making its second increase in three months as signs of a recovery emerge in the housing sector.

Mexico's Stocks Open Higher On Growth Optimism; IPC Up 1.9%

2009-08-03T12:06:00.000-07:00

Mexico's stocks opened higher Monday as investor optimism about a return to global economic growth pushed the market's IPC index to its highest level in a year.

Dollar Down As Manufacturing Tops Forecasts

2009-08-03T12:01:00.000-07:00

The dollar fell to its lowest levels this year on Monday after the Institute for Supply Management's index on U.S. manufacturing improved more than expected in July.

ISM Factory Index Tips Higher In July

2009-08-03T11:59:00.000-07:00

The Institute for Supply Management reported Monday that activity showed a reduced rate of contraction, with its manufacturing index standing at 48.9, from 44.8 in June and 42.8 in May. The index had been seen at 46.5.

US Factory Sector Sees Best Month In July

2009-08-03T11:52:00.000-07:00

The Institute for Supply Management reported Monday that activity showed a reduced rate of contraction last month, with its manufacturing index standing at 48.9, from 44.8 in June and 42.8 in May. The index had been expected to come in at 46.5.

July ISM Factory Index Best Since August 2008

2009-08-03T11:48:00.000-07:00

The U.S. factory sector continued its steady trek out of the recession in July, marking its best performance since August 2008.

EUR/USD jumps above 1.4400

2009-08-03T11:37:00.000-07:00

Better than expected US ISM manufacturing data and Construction spending are hurting the Greenback during the American session. EUR/USD is not the exception, and it has fallen around 100 pips in the last hour from 1.4325 to post 1.4430 as fresh 2009 highest level.

USD/JPY consolidates above 95.00

2009-08-03T11:29:00.000-07:00

After rising around 45 pips after the US ISM and construction data from 94.85 to trade above 95.00 level and post 95.36 as fresh intra-day high, USD/JPY is trading in consolidation mode above 95.00. Currently the pair is trading around 95.20/30, 0.70% above today's opening price.

EUR/USD reaches 1.4445, fresh 2009 high

2009-08-03T11:24:00.000-07:00

Mexico's Institute for Finance Executives, or IMEF, said Monday its manufacturing index rose in July to its highest level in a year in a sign the slump has probably hit bottom.

Colombia's Economy Likely Contracted In 2Q -Central Bank Chief

2009-08-03T11:11:00.000-07:00

The Colombian economy likely contracted in the second quarter of the year following a 0.6% contraction year-on-year in the first quarter, the country's central bank chief, Jose Dario Uribe, said Monday.

No more hedging orders NFA – delaying FIFO implementation

2009-08-03T10:36:00.000-07:00

In my previous entries, I have mentioned that the First-In-First-Out (FIFO) processing of orders is part of the new NFA Rule 2-43b requirement. And looking at how some brokers have implemented the new rule, it seems that the FIFO requirement is not required.

No more hedging orders NFA – list of MT4 brokers you can’t used

2009-08-03T10:31:00.000-07:00

So there are 14 forex brokers left in the US that are registered with NFA, according to what I read here. Back in Oct 2008, there were 29.

Sell stop order for maximum profits

2009-08-03T10:24:00.000-07:00

While it is always interesting to speculate what it would be like to sell the absolute top (or buy the absolute bottom), it's more practical to consider maximizing the profits without giving up to much of the possible gains.

Sell Stop Order

2009-08-03T10:18:00.000-07:00

A Sell Stop Order is an order to sell a stock at a price below the current market price. Once a stock's price trades at or below the price you have specified, it becomes a Market Order to sell. A Sell Stop Order is also commonly referred to as a Sell Stop/Loss Order.

Stop orders and risk management

2009-08-03T10:08:00.000-07:00

Stop orders are most often used as a risk management tool to close a position if prices move adversely. Unlike a market order which is executed immediately, a stop order is contingent on the price.

Trailing Stop Orders

2009-08-03T10:06:00.000-07:00

One way to protect gains and limit losses automatically is by placing a trailing stop order. With a trailing stop order, you set a stop price as either a spread in points or a percentage of current market value.

When a Stop Order should be an If Touched Order

2009-08-03T10:04:00.000-07:00

Day traders combine multiple individual orders to make their trades, and for most day trading markets, there are many different types of orders that are available. The most well known order types are market orders, limit orders, and stop orders, but there are also some less well known order types that are equally as important.

Stop-Limit Order

2009-08-03T09:58:00.001-07:00

The benefit of a stop-limit order is that the investor can control the price at which the trade will get executed. But, as with all limit orders, a stop-limit order may never get filled if the stock's price never reaches the specified limit price. This may happen especially in fast-moving markets where prices fluctuate wildly.

Buy Stop Order

2009-08-03T09:48:00.000-07:00

The use of stop orders is much more frequent for stocks that trade on an exchange than in the over-counter (OTC) market. In addition, your broker-dealer may not allow you to place a stop order on some securities or accept a stop order for OTC stocks. Before you enter into these types of orders, you should speak to your broker or financial advisor about how these orders work.

Stop Order

2009-08-03T09:45:00.000-07:00

A stop order is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. When the specified price is reached, your stop order becomes a market order.

EUR/USD: Euro drops to test 1.4100 after GDP

2009-07-31T06:30:00.000-07:00

The Euro has been weighed by U.S. GDP data, and the pair has pulled down from levels right below intra-day high at 1.4150 to test support level at 1.4100 which has hold so far, as the Euro trades at 1.4115.

USD/JPY: Dollar pulls down from 95.85 high after GDP data

2009-07-31T06:27:00.000-07:00

The Yen is being favoured after U.S. GDP, and the Dollar rally from 94.00 has capped at 95.85 high moments before GDP data was released, to decline to 95.30 support, which is being tested at the moment.

Business Activity Contracts For Second Month In July

2009-07-31T06:24:00.000-07:00

The National Association of Purchasing Management-New York's Current Business Conditions index moved to 48.3 in July from 44.8 in June and after 61.3 in May. An index reading above 50 indicates a faster pace of activity and less than 50 indicates a slower or contracting rate.

GBP/USD reacts down after better than expected US GDP

2009-07-31T06:13:00.000-07:00

Pound has extended its rejection from 1.6570 against Dollar after the better than expected Q2 US GDP annualized with falling around 50 pips in the last minutes to trade below 1.6500 level, close to 1.6490. Currently the Cable is trading around 1.6490/1.6500, 0.05% above today's opening price.

Dollar pulls down from 95.85 high after GDP data

2009-07-31T05:55:00.000-07:00

Interest Rates For Company, Household Loans Fell In June

2009-07-31T05:51:00.000-07:00

Interest rates on new loans to households and businesses in the euro zone fell again in June, a survey by the European Central Bank showed Friday.

GBP/USD: Pound, in range below 1.6585 high

2009-07-31T05:40:00.000-07:00

Asian markets rose sharply Friday to build on their weekly and monthly gains, with Japanese shares ending at their highest level this year as better-than-expected corporate results outweighed data showing the country still faced major economic challenges.

Asian Shares End Up; Nikkei Makes 2009 High Despite Data

2009-07-31T05:37:00.000-07:00

After rejecting at intra-day high at 1.0890 in the early European morning, USD/CHF has fallen around 70 pips to post intra-day low at 1.0820. Currently the pair is trading around 1.0820/30, posting 0.50% daily losses from opening price.

EUR/USD: Euro, back around 1.4100 after hitting 1.4145 day-high

2009-07-31T05:34:00.000-07:00

Euro recovery from 1.4005 low on Wednesday reached 1.4145 high on early Asian session, and, according to Peter Ruud, technical analyst at Informa Global Markets, it was rejected at former trendline support, to drop to levels around 1.4100 at the moment of writing.

USD/CHF falls to 1.0820, intra-day low

2009-07-31T05:20:00.000-07:00

Asian Shrs End Up; Nikkei Makes 2009 High Despite Data

2009-07-31T05:17:00.000-07:00

Dollar Weaker Ahead Of GDP Report

2009-07-31T05:15:00.000-07:00

The U.S. dollar was modestly lower versus major rivals in quiet trade Friday, as traders headed to the sidelines ahead of the release of second-quarter U.S. gross domestic product data.

Iceland Government: IMF Econ Program Review Postponed

2009-07-31T05:11:00.000-07:00

The International Monetary Fund's review of Iceland's rescue program has been postponed because third-party funding hasn't been secured, the Icelandic government said Friday.

Dollar bounces at 95.20 approaching 95.90 again

2009-07-31T04:08:00.000-07:00

After a 70 pip pull down during Asian session, the Yen has bounced at 95.20 on early European session to reach levels around 95.70 with 4-weeks high at 95.90 on sight.

Italy Jun Producer Prices +0.5% MM; -6.3% YY

2009-07-31T04:07:00.000-07:00

Italy's producer price index in June fell on year, as energy prices continued to drop, data from statistics office Istat showed Friday.

European Stocks Edge Lower Ahead Of US GDP

2009-07-31T03:20:00.000-07:00

European stock markets traded mostly lower Friday, with investors showing a degree of caution ahead of key U.S. economic data later in the session and on mixed earnings news.

U.S. July Auto Sales May Rise to 2009 High on ‘Clunkers’ Plan

2009-07-31T03:07:00.000-07:00

U.S. auto sales may reach a 2009 high in July after the government’s $1 billion “cash-for- clunkers” incentives program lured shoppers back to showrooms.

Brazil and Colombia: Latin American Bond and Currency Preview

2009-07-31T03:01:00.000-07:00

The following events and economic reports may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the previous day’s session.

U.S. Limits on Bank Pay, Bonuses Face Senate, Obama Skepticism

2009-07-31T02:51:00.000-07:00

Restrictions on financial industry bonuses heading to a vote in the U.S. House may be rejected by the Senate and the Obama administration, which are reluctant to increase government’s role in deciding compensation.

U.S. Economy Probably Shrank at Slower Pace in Second Quarter

2009-07-31T02:18:00.000-07:00

The U.S. economy probably shrank at a slower pace in the second quarter, a sign the worst recession in half a century is winding down, economists said before a report today.

Dollar, Yen Fall Against Euro on Optimism U.S. GDP Drop Slowed

2009-07-31T02:03:00.000-07:00

The dollar and the yen fell for a second day against the euro as investors sought higher-yielding currencies before a U.S. government report forecast to show the contraction in the world’s largest economy slowed.

AUD/USD: Aussie pares losses and reaches 0.8300

2009-07-31T01:54:00.000-07:00

Australian Dollar bounce from 0.8125 low on Wednesday has extended to 0.8305 high ahead of the European session opening, getting back all the ground lost on Tuesday and Wednesday, to ease afterwards to levels around 0.8270.

TGIF- after another forgettable week

2009-07-31T01:48:00.000-07:00

I don't know about you but I found this week to be one of the longer variety. Lots of Bernie the bolt moves, up a bit , down a bit, but overall we are are pretty much back where we started. The IMF told us what we all know, that the EUR is 15% overvalued against the USD but can they please give us an SDU guarantee that it won't trade at 1.50 first.

Dollar Loses Steam As U.S. Stocks Rally

2009-07-31T01:25:00.000-07:00

A global stock rally depressed the U.S. dollar Thursday as investors took advantage of a fresh bout of optimism to snap up higher-yielding currencies such as the euro and Australian dollar.

USD/CHF fails to hold above 1.0900 and falls finding support at 1.0865

2009-07-31T01:23:00.000-07:00

The Swiss Franc fell across the board on Thursday, but in the last hours managed to recover part of the losses. USD/CHF rose only 0.05% after the Dollar failed to hold above 1.0900.

USD/JPY technicals: Fibo and TL resistance looming

2009-07-31T01:21:00.000-07:00

As we've said many times over the past few months, USD/JPY is in a 92/102 trading range, and technicals do not work so well in range-bound markets. Nevertheless, the bearish trendline drawn from the 110.50 high through 101.50 and 99.00 now comes in around 96.80 and this should prove some stern resistance.

Dollar mixed after an increase in US markets and a sharp rise in crude oil

2009-07-31T01:19:00.000-07:00

Wall Street ended with gains on Thursday. The Dow Jones rose 0.90% and closed at 9150, the highest level since November of 2008, but far form intra-day high at 9245. Crude-oil soared, rising more than 5% after a rally in the stock market. Greenback remained steady against the Pound and the Euro, but managed to rise to the Yen and the Swiss Franc.

Argentina Stocks Gain, Aided By Rising Oil Prices; Peso Down

2009-07-31T01:17:00.000-07:00

Argentina's Merval stock index rose 2.44% Thursday as higher oil prices lifted key stocks. The Merval closed at 1,696.19 in low volume trade totaling ARS34.2 million pesos ($8.9 million).