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Forex Trading MarketWeek ending 3 April 2009: With global financial markets shaking off risk aversion, currencies resumed answering fundamental and technical pressures to some extent and repat flows into USD and JPY reversed. Dismal data was shrugged off as “lagging indicators” and any surprise to the upside was touted in the search for a bottom. The RBS [...]
Week ending 20 March 2009: As expected, the FOMC left rates unchanged at 0.0–0.25%; however, it flipped on the printing press and aggressively leveraged quantitative easing (QE), sharply weakening USD. Commodities gained, equities dithered, borrowing costs and U.S. investment returns fell, and the VIX risk-aversion measure rose anew beyond 45, while USD/CHF lost all its [...]
Week ending 13 March 2009: Global stock indices rose in the early part of the week and investor confidence tried to follow. Quantitative easing and a LIBOR rate cut by the Swiss National Bank was reinforced by direct intervention in the forex trading market, and the franc depreciated 500 pips versus the Euro and 300 [...]
The forex trading market currently remains within the unweakening grip of risk aversion, rather than either technical factors or fundamental data. Most currency pairs continue moving without dependable trend, and rather are responding to the mood of the day. When investors feel hopeful, the U.S. dollar, Japanese yen, and Swiss franc depreciate and higher-yielding currencies [...]
Week ending 6 March 2009, A horrible week for U.S. equities, with the Dow Jones breaching first 7,000 then 6,500, left currencies consolidating between risk aversion and any hint of hope shell-shocked investors could find. The weight of poor U.S. fundamental data finally shifted its stance as the last safe-haven currency, sending the Swiss franc [...]
Week ending 27 February 2009: The forex trading week saw more jittery currencies, with many pairs consolidating as global equity markets sank back to November’s lows. The Japanese yen showed signs of decoupling from its previous safe-haven status, leaving U.S. dollar the last refuge standing. The RBA meets Monday 2 March and is expected to [...]
Week ending 20 February 2009: The forex trading week was wracked by risk aversion, rotten worldwide fundamental data, and growing tension regarding U.S. trade protectionism, the spectre of U.S. bank nationalisation, and Western European banking exposure to the Central and Eastern European “C4” nations. Near closing Friday many traders pulled long bets on USD, resulting [...]
Week ending 13 February 2009: Renewed risk aversion sent the forex trading market on a volatile ride within narrow ranges as the U.S. economic stimulus and bank rescue initiatives failed to either stimulate or rescue. The Australian economy added 1.2K jobs in January although the unemployment rate ticked up to 4.8%, and ANZ job advertisements [...]
