- Forex Trading- Learn Forex Trading Through Online Course
- Measure to Avoid Some Most Common Mistakes Made By Forex Trader
- Forex Trading Secrets – Get the Best ways to Trade Forex by Following Simple Steps
- Forex Hedging Trading Strategy
- Benefits of Trading In Forex Market
- Use Effective Trading Strategy to Make Money
- Understanding the Term Forex Hedging
- Beginners Guide to Trade Forex
- Forex Trading: Get the Best Trading Strategy While Hiring the Perfect Broker to Trade Forex
- Three Basic Steps to Trade While Using Forex Swing Trading Strategy
Posts Tagged ‘currency exchange trading’
USD Posts Mixed Results
After the Initial Jobless Claims came out better at 445K against the anticipated at 454K, the dollar posted mixed results. Another factor that contributed to this forex trading result is the announcement from Europe and UK of the rate decisions. The US stock markets also posted mixed results, with NASDAQ going up by 0.13% and Dow Jones going down by 0.17%. Gold went down by 0.95% to close at $1,335 per ounce. Crude oil went down by 1.9% and closed at $81.67 per barrel. The Unemployment Rate is anticipated to go up from the previous 9.6% to 9.7%. As for the Non-Farm Employment Change, it is anticipated to go up from -54K to 3K.
As for the euro, it remained the same against the dollar after it reached the highest level in 8 months. The momentum for the EUR/USD forex pair remains bullish as it traded between a high of 1.4029 and a low of 1.3857. Against the dollar, the pound was able to reach an 8-month high. This was after interest rates were left at their lowest and the bond buying program was not increased by the Bank of England. The GBP/USD exchanged at high of 1.6018 and a low of 1.5826.
The Euro Posts Gains Versus the Dollar
Due to bad US job reports and after the forex trading pair reached a new high level ever since May, the euro was able to post gains versus the dollar. As for the German Industrial Production, it came out at -0.6%, which was worse than the anticipated 0.9%. The German Trade Balance is anticipated to go up from the prior 10.6B to 12.4B. The EUR/USD exchanged at a minimum of 1.3156 and a maximum of 1.3333. Because the pair is able to post results above the 1.3130 support level, the momentum for the EUR/USD pair can be considered positive.
The British pound was also able to post some gains versus the dollar due to the negative US job reports. However, the Manufacturing Production posted a result of 0.3%, which was worse than the anticipated 0.5%. The PPI was anticipated at -0.4%, but it came out at -1%. The GBP/USD forex pair exchanged at a high of 1.5995 and a low of 1.5838.
Dollar Trades with Mixed Results
Against most of the forex trading currencies, the dollar remained mostly the same, although the dollar traded with mixed results. This was due to the anxiety felt about the anticipated NFP data. As for the Initial Jobless Claims, it was worse than the expected, at 479k versus the anticipated 455k. The Unemployment Rate is anticipated to go up from 9.5% to 9.6%. The US stock markets posted negative results, with NASDAQ going down by -0.46%, and Dow Jones plummeting by -0.05%. Gold remained unchanged at $1,194.65 per ounce. Crude oil also went down a bit, but was able to trade above the $82-per-barrel rate.
Amidst strong volatility issues, the euro was able to gain a bit against the dollar. The Interest Rate remained unchanged, which is anticipated at 1%. The German Factory Orders posted better results than the expected rate, which was 3.2% versus the anticipated 1.5%. The EUR/USD exchanged at a high of 1.3235 and a low of 1.3118.
Recent Comments