The Japanese yen was able to post gains against some of the majors over the past weeks. On August 25th, the yen just hit new highs against the dollar as forex trading investors turned to safer assets following the slow economic recovery. The yen reached a new high that was last attained 15 years ago in 1995. Trade balance came out much better than the expected 0.47T, at 0.61T. The USD/JPY pair traded at a high of 85.15 and a low of 83.59.
The British pound fell against the dollar after reports that the UK may be in for another recession. The GBP/USD pair traded at a high of 1.5505 and a low of 1.5372. The euro remained nearly unchanged against the dollar, but the euro crashed against the yen. The EUR/USD pair traded at a high of 1.2719 and a low of 1.2587. The US dollar was able to post gains against many of the majors.
Posted in:
daily forex review
by
admin
/
Tags: daily forex analysis, daily forex review, forex analysis, forex market, forex review
No Comments
As weak economic data continues to plague many of the other major currencies, forex trading investors are turning to the dollar for refuge. On August 24th, the dollar was able to gain against most of the forex majors. Both of the stock markets fell, with Dow Jones going down by 0.38% and NASDAQ falling by 0.92%. The commodities also weakened with gold closing at $1,228.50 per ounce and crude oil closing at $73.10 per barrel.
The pound was approaching a four-week low against the dollar due to a forecast that business confidence will weaken for the quarter. The GBP/USD pair traded at a high of 1.5619 and a low of 1.5499. In a twist of even worse fate, the euro fell to a near six-week low because of weak economic data in manufacturing. The EUR/USD pair traded at a high of 1.2729 and a low of 1.2647. With worries over global economic growth, the Japanese yen posted gains against other forex majors as investors turn to a safer currency. The USD/JPY traded at a high of 85.64 and a low of a low of 85.09.
Posted in:
daily forex review
by
admin
/
Tags: daily forex analysis, daily forex review, forex analysis, forex market, forex review
No Comments
Economic issues around the world continue to weigh down on many forex trading investors. In the US, higher than expected jobless claims are being taken as a sign that global recovery is slowing. Investors have reacted by avoiding risky assets and putting their money into the dollar, causing the dollar to gain against many of the major currencies in the forex market.
In Europe, weak economic data has caused the euro to slip to a five-week low against the dollar. Also, investors’ worries crept up after news came out about a European Central Bank official requesting more financial aid. The EUR/USD forex pair traded at a high of 1.2833 and a low of 1.2663.
The Japanese yen continues to gain against many of the majors due to the worries about global recovery. The USD/JPY forex pair continues on its bearish trend, trading at a high of 85.82 and a low of 85.19.
Posted in:
daily forex review
by
admin
/
Tags: daily forex analysis, daily forex review, forex analysis, forex market, forex review
No Comments
