The British pound reached a six-week low against the dollar on the September 8 forex trading day. The dollar was backed by risk aversion as investors were worried about investing in currencies experiencing slow recovery. The pound is one such currency, falling into a bearish trend that may continue for days to come, because of the concern that the UK may take longer than expected to bounce back. The GBP/USD pair traded at a high of 1.5424 and a low of 1.5296.

The euro also weakened against the dollar because of the weak economic data in the Euro Zone. Investor worries prevail that the debt crisis in the Euro Zone may worsen. The EUR/USD pair traded at a high of 1.2819 and a low of 1.2677.

In the US, both the stocks and commodities markets fell. Crude oil closed at $73.8 per barrel and gold closed at $1,256.8 per ounce. The dollar posted gains against most majors.

The forex trading market slowed down a bit over the Labor Day holiday. In the US, stock markets were closed and there isn’t much economic data to work with, leading the dollar to finish mixed against many of the majors. Gold closed at $1,250 per ounce and crude oil fell slightly to close at $74.06 per barrel.

In Europe, the circumstances were similar, with little economic data to drive currency trades. The EUR/USD pair traded at a low of 1.2867 and a high of 1.2919.

The British pound weakened against both the dollar and the euro, due to worries about slowing economic recovery. Investors are getting anxious to see the results of the central bank meeting set for this week. The GBP/USD pair traded at a low of 1.5344 and a high of 1.5489.

The Japanese yen increased against the dollar, which hit a two-day low. The USD/JPY traded with a low of 84.04 and a high of 84.49.

On September 6, the US dollar tumbled against many major currencies in the forex trading market. Investors went for higher-yielding assets following hints of a brighter job outlook in the US. It turned out that US private employers have more jobs to offer than what what was previously forecast in August. In the end, it helped quell fears about the state of US economy and encouraged riskier investments. The stock markets went up by 1.53% for NASDAQ and by 1.24% for Dow Jones. Crude oil closed at $74.60 per barrel after a 0.6% decline, and gold ended up at $1,251 per ounce after a 0.25% decline.

After posting gains for several days, the euro finally reached a two-week high against the dollar. A bullish momentum is expected as long as it stays beyond the 1.2800 zone. The EUR/USD closed at a low of 1.2808 ad a high of 1.2897. Meanwhile, the British pound dropped against the dollar in its fourth week. Since June, this marks the longest streak of losses for the British pound. The slow growth of UK services and declining house prices have stirred worries about economic recovery. Moving on a bearish momentum, the GBP/USD traded with a high of 1.5468 and a low of 1.5389.

After European Central Bank President Jean-Claude Trichet said that a “double-dip recession” is unlikely, the euro almost reached its highest level versus the dollar in two weeks. Now that there are less fears about the sliding economic recovery in Euro zone, the currency was finally able to recover from its losses. By surpassing the 1.2800 level, the euro will have a bullish momentum, as the EUR/USD recorded a low of 1.2776 and a high of 1.2848. As for the British pound, the currency declined against the euro and the dollar after reports confirmed that the UK house prices declined in six months, from -0.30% forecast to -0.90%. These data suggest that economic recovery may take a while for Great Britain. Unfortunately, the momentum for the GBP/USD is still bearish, after the currency pair traded in negative range. The GBP/USD traded between 1.5350 and 1.5451.

With hints of an improving housing market, following news of better than expected US home resales, the dollar traded mixed against forex majors. Instead of safer assets, many forex trading investors went for higher-yielding investments. The Japanese yen advanced against major currencies, with the USD/JPY trading at a high of 84.55 and a low of 83.99. Meanwhile, the Canadian dollar weakened against the dollar, with the USD/CAD pair closing at a low of 1.0471 and a high of 1.0555.

After posting gains for several days, the dollar has declined versus forex majors on the September 2 forex trading day. It looks like the investors have placed their trust back on other major currencies following the release of better economic forecast and figures, suggesting that global economic recovery, though slow, maybe on its way. From the forecast of -20K in August, there were only 10,000 unexpectedly cut jobs reported that month. These figures helped push the commodities and stock markets to new levels. NASDAQ went up by 2.97%, and Down Jones gained by 2.54%. Crude oil ended up at $73.91 per barrel after a 2.4% gain. Gold, on the other hand, only suffered from a small decline of 0.2% to close at $1,248 per ounce. It is anticipated that the Unemployment Claims will have a 2k increase, from 743K to 745K. From the -2.6%, the Pending Home Sales are expected to come out better at -1.3%.

The euro and pound both gained against the dollar, following the more encouraging global economic data. The EUR/USD closed at a high of 1.2855 and a low of 1.2662, while the GBP/USD pair traded at a low of 1.5336 and a high of 1.5491.

Due to the response to the FOMC Meeting Minutes, the USD was able to go up against most forex trading majors. During the FOMC meeting, the members shared
different opinions regarding the reinvestment of FED’s profits back into treasuries. In the meeting, the members expressed that doing so might send a bad message to the investors. The CB Consumer Confidence was at 53.5, which was better than the anticipated 50. As for the Chicago PMI, it came out at 56.7, which was worse than the anticipated 57.5.

The stock market posted mixed results; NASDAQ went down by -0.28%, while Dow Jones went up by 0.05%. Crude oil traded at $71.80 per barrel, going down by more than -3%. Gold traded at almost $1,250 per ounce. The ISM Manufacturing Index is anticipated to go down from prior 55.5 to 53. The ADP Nonfarm Employment Change is anticipated to go down from 42k to 13k. As for the other majors, the GBP/USD pair exchanged at a high of 1.5472 and a low of 1.5325. The EUR/USD pair exchanged at a high of 1.2742 and a low of 1.2625.

Risk aversion led to the US dollar posting gains against many major currencies in the forex trading market. The US stocks market suffered from a drop, with Dow Jones and NASDAQ dropping by -1.39% and -1.56% respectively. The Core Price Index came out as expected at 0.1%, while the report for Personal Spending posted a 0.1% gain from the forecast at 0.4%,. As for the commodities market, crude oil fell near the $74 level per barrel, while gold barely moved and closed at $1,236.50 per ounce.

After posting gains for several days, the euro lost its momentum and declined against the dollar after trading below the 1.27 level. On August 31st, the EUR/USD pair marked a low of 1.2633 and a high of 1.2771. The British pound also fell against the dollar as investors seek safer assets due to the closing of UK banks. The GBP/USD traded between 1.5452 and 1.5574. While major currencies failed to rise against the dollar and other forex majors, the Japanese yen came out strong as ever after posting gains across the board.

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.

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.

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.