Bernanke’s Testimony
Bernanke gave his long awaited testimony in front of the House Financial Services Committee. The testimony was short on details and stock markets responded with a 4.6% fall. The testimony signaled a return of risk aversion and Forex traders flocked to the US dollar and the Japanese Yen.
Euro Up Again!
25 April 2009
Euro Gains For Fourth Straight Session The euro rose against the dollar for the fourth straight session causing a significant change in the euro to dollar exchange rate. Improved German investor sentiment prompted many to believe that the worst of the recession in Europe is over. A stock rally improved investor sentiment and also affected the [...]
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US Job Figures Not as Bad as Expected
05 April 2009
US Non Farm Payroll Report On Friday the US non farm payroll report was not as bad as expected and triggered a return to risk appetite. The US dollar rose against the Japanese Yen but remained little changed vs. the Euro. Forex traders noted that previously the dollar had fallen due to a smaller than expected [...]
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Dollar Stages Comeback Against the Euro
27 March 2009
Euro Posts Largest One Day Drop Today (March 27th) the Euro posted its largest one day drop against the US dollar in two months. Forex traders took note of a remark by Germany’s finance minister Peer Steinbrueck who said that fiscal irresponsibility could put the Euro at risk. The remarks combined with weak industrial orders triggered [...]
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US Bank Problems Promotes Safe Haven Buying
04 March 2009
The US dollar rose against the Japanese Yen on safe haven demand and remarks by Federal Reserve Chairman Ben Bernanke. Forex traders sought the safe haven of the dollar due to concerns about the US banking system. Forex traders also paid heed to Bernanke’s remarks to the US congress calling for resolute action by the [...]
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Dollar Falls On Bank Nationalization Fears
23 February 2009
Citigroup Cause For Concern Since Friday the US dollar has fallen amid concerns that the US may nationalize banks. Forex traders have been watching the Citigroup situation closely and are concerned that the US government may own large stakes in US banks. The dollar fell after an article in the Wall Street Journal said that the [...]
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Nothing New From G7
16 February 2009
G7 to Monitor Markets Forex traders had been watching the G7 meeting held in Rome last weekend with great interest. All reports indicate that currencies were not discussed to any great length although the Chinese Yuan was mentioned. Forex traders learned that the group of central bankers and finance ministers will monitor foreign exchange markets and [...]
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