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EUR/USD Soars Past 1.3000 at 19-Month High
There's nothing like a vertical rally or fall to set your heart pounding and eyes wide open. Shortly after European session opened, EUR/USD took little (zero, in fact, to be more accurate) hesitation in surging past 1.3000 level, rallying 100 pips in just 10 mins, eventually...Further US rate hikes are possible
The Federal Reserve may have to raise interest rates again, as inflation risks continue to outweigh the risks associated with an economic slowdown, according to Chicago Fed President Michael Moskow. He said, "Taking all of the factors on growth and inflation into account, my...Time-out for siesta after US dollar beat -up
The morning after: US dollar's slaughter yesterday from worse than expected US consumer confidence and Chicago PMI still lingers in the air of the forex market. There is hardly any movement at all in the market during today's Asian session, with most traders feeling exhausted...Can anything reverse the weak USD sentiment now?
Japan's core Consumer Price Index (CPI) rose 0.25 y/y in Sep, less than market's expectation of a 0.3% y/y gain (headline 0.6% y/y rise was within expectation) while the core-core CPI fell 0.5% y/y in...US dollar steadies itself before GDP data
US durable goods came out much better than expected (+ 7.8% vs 2% expected), and this is the biggest increase since 16.3% in June 2000. An added bonus for USD is the better than expected new home sales. Despite...Will USD longs unwind post-FOMC this week?
My guess that the Fed was not going to say anything spectacular was correct, given that past statements also revealed little about their decision. The US Fed has left rates on hold at 5.25% as expected, for the...Euro holds back celebration of positive IFO data
It must be difficult for Euro bulls to contain their glee from the better than expected IFO data prior to the US FOMC rate decision. German IFO business confidence improved unexpectedly in October, with the...The forex market plays a waiting game
The much weaker than expected Richmond Fed manufacturing could not even dent USD bullishness (index -2 vs +8 expected). You can't really be too USD bullish either, because if the FOMC policy statement tomorrow turns out to be less hawkish than expected, the record USD longs...USD's taking a break after yesterday's sprint
If you have stayed away from your trading desk last night, and returned this Asian morning, you would not have noticed anything different on the currency charts. The market hardly moved overnight, and it has been a rather lifeless US session, after USD made all of its gains...Press reports about Fed gave new batteries to the USD
Surprise, surprise. Just when I thought the market was going for a slumber today, it geared up for unexpected action instead. Today the US dollar rallied broadly and sharply against the other currencies. EUR/USD and GBP/USD suffered the biggest decline since more than a...USD on the defensive as FOMC rate meeting approaches
t's been a Cablelicious week for GBP/USD, having rallied around 340 pips, compared to the measly 150-pip rally by EUR/USD over the past week. That has coincided with a 68% increase of GBP longs and a slight decrease of Euro longs in the futures market as of last Tuesday. Yen...To raise or not to raise, that is the question
Are traders back to hoping for US rate hikes by the Fed again, barely after they have been speculating about possible rate cuts? Not too long ago (weeks ago), no rate cut = good for USD. Seems like US bulls are getting more greedy this time round. They want rate hikes,...Temporary truce between US bulls and bears?
No surprises from BOJ's Governor Fukui's words today when he said that the BOJ "will support sustainable growth under price stability by conducting appropriate monetary policy while carefully checking economic and price conditions." He said the economy is expanding gradually...US core inflation the highest in over 10 years
I think the USD bullish sentiment has returned with a vengeance. Even though US consumer prices fell last month (decreased 0.5% in September, the biggest drop since November 2005) on the back of a steep slide in energy prices, the underlying inflation rate accelerated to its...
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