Forex: The Risk Today

The Risk Today: EurUsd Risk appetite has continued to struggle since the Goldman inspired equity market slump on Friday, and EURUSD has also been weighed by the ash-triggered paralysis of European travel networks and the possibility of Greece activating the EU/IMF bailout mechanism appearing ever closer. We are now approaching a critical juncture for the [...]

Conditions are Right for Further USD Appreciation

Forex News and Events: Newswires were buzzing overnight regarding an article, which suggests that Greece wants to cut out the IMF participation portion from the recently agreed upon financial aid plan. In addition, Greece has been rumored to be trying to fix or get details regarding some of the hazy specifics. Given the number of [...]

Afternoon Forex Overview

Previous session overview The dollar extended its earlier weakness against most currencies Wednesday morning after the ADP private sector jobs report for March fell dramatically short of expectations. The euro added to earlier gains against the dollar and broke through the USD1.3500 level to register a session high at USD1.3518, after news that private-sector jobs [...]

Morning Forex Overview

Previous session overview The euro rose against the dollar and yen in Asia Friday as remarks by European Central Bank President Jean-Claude Trihet in support of potential International Monetary Fund aid for Greece prompted U.S. hedge funds to pick up the single currency. The dollar fell against the yen after rising to a two-and-a-half month [...]

GBP/USD UK Data Surprises Higher; Downward Revision (1.4864)

The Pound recovered some ground ahead of the UK retail sales figures and extended its gain on better-than-expected data. Although UK retail sales rose by 2.1%, a revision to last month’s data of -0.8% to -3.0% mitigated the gains in February. The currency spiked higher but reversed gains post data. Bias is mixed-to-bearish in the [...]

GBP/USD Attempts to Hold 1.5000

The Pound weakened further in Europe on risk aversion and UK economic fundamentals. CPI, although still above the Banks target rate, came in at 3.0% compared to the previous 3.5%. CBI realized sales declined to show a balance of 13, below estimates of 18 and the prior 23. Tomorrow is the highly awaited Annual Budget [...]

GBP/USD Cautious Outlook

Despite positive economic news yesterday, investors are trimming their long positions as risk aversion is taking center stage. Data out today was rather mixed, with public sector net borrowing rising nicely, while CBI industrial order expectations weakening more than expected. Any rallies in the pair should be limited for now, as traders will be cautious [...]

Afternoon Forex Overview

Previous session overview The volatile British pound is higher late Wednesday morning after the release of some unexpectedly robust domestic jobs data while the dollar has ceded ground against a number of more risk-sensitive currencies. The pound was propelled higher after the U.K. government reported that the number of people claiming unemployment benefits fell 32,200 [...]

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