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- Pound to 5-Year Low vs. Dollar on UK Recession Warnings
- Grace Cheng submits: The forex markets are feeling another round of aftershocks caused by the ongoing economic and financial crisis. The British pound and the Euro plunged yesterday Tuesday and today against the US dollar after renewed fears of a global recession caused traders to unwind more of their positions...
- External links 2008-10-22
- Inside Commodities: Is the Bull Run Over, or Just Taking a Break?
- Grace Cheng submits: On Monday (3 Nov 2008) I attended the Inside Commodities conference at the New York Stock Exchange NYSE. The conference was organized by IndexUniverse and hosted at the NYSE. Since the NYSE has acquired AMEX and is boosting its offering of exchange-traded funds ETFs, a lot of...
- External links 2008-11-05
- Forex Interplay: Rebounding Euro, Sinking Automakers
- Grace Cheng submits: The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2770 level and was supported around the $1.2590 level. The common currency moved to intraday highs during the early North American session as traders braced for more potential selling...
- External links 2008-11-19
- Is the Fed Driving Down the Dollar to Boost Inflation?
- Grace Cheng submits: High market volatility doesn’t stop just because traders are taking it easy with Christmas holidays lurking around the corner. One of the biggest movements in the financial markets this week has got to be the fast and furious decline of the US dollar in the forex market,...
- External links 2008-12-18
Additional Resources
- Dollar Wins on Euro. Pound Weakness
- Grace Cheng submits: From 5.5% to 5.7% - that’s how much unemployment rate has increased in the US in July according to Friday’s release of non-farm payrolls. This came in worse than an expected reading of 5.6%, and marks the highest unemployment rate in more than four years. The US...
- External links 2008-08-01
- Forex Wrapup: Dollar Benefits As Traders Focus on Weak Economies Elsewhere
- Grace Cheng submits: Big and largely one-directional moves have dominated the forex markets this week, and once again, the US dollar is the crowned winner against major currencies. It isn’t just any rebound; the dollar rose mightily to multi-month highs versus the Euro, Swiss franc, British pound, Japanese yen, and...
- External links 2008-08-08
- Forex Update: The Week Behind, the Week Ahead
- Grace Cheng submits: Traders and economists often have differing views about currency movements. Most traders, like myself, go with the flow of the market, hitching onto the present, participating in the seemingly illogical game of speculation, and not wasting time questioning over whether a particular currency should actually be going...
- External links 2008-08-17
- A Chill Descends on Frannie, Freddie and the U.K.
- Grace Cheng submits: In the absence of major economic releases Monday, major currency pairs took the opportunity to take a breather and traded in narrow price ranges after last week’s dramatic moves. The US dollar was slightly down against virtually all major currencies such as the Euro, Swiss franc, Japanese...
- External links 2008-08-18
- Dollar Yields to a Slumping Market
- Grace Cheng submits: Tuesday has been a day of whipsaw moves in the forex markets. The US dollar initially gained against other major currencies like the Euro and Swiss franc, but then slipped with relative ease as trading progressed into the American afternoon on cue from the slumping US stocks,...
- External links 2008-08-19
- Crude Inventories: Forex Effects of the Surprise Rise
- Grace Cheng submits: In the forex markets, EUR/USD indeed met resistance around 1.4805 and USD/CHF attracted bidding interest around 1.0890, an expected support level, during the early Asian trading session Wednesday, thus spurring a USD rebound after some weakness experienced Tuesday. EUR/USD fell below 1.4700 while USD/CHF rose to as...
- External links 2008-08-20
- Oil's Jump Pushes Dollar Down
- Grace Cheng submits: Thursday’s picture of the forex markets is a different one from the day before. The US dollar had rebounded yesterday against major currencies such as the Euro, Swiss franc, Japanese yen and the British pound after a fall Tuesday, but then with the media’s crowded coverage of...
- External links 2008-08-21
- Pound Hits Two-Year Low vs. Dollar: U.K. Economy Stagnant
- Grace Cheng submits: The worse performer of the day has been the British pound, which fell more than 250 pips against the US dollar from a high of 1.8770 towards 1.8500, more than erasing Thursday’s gain. Friday’s release of UK GDP was worse than expected, coming out at 0%, compared...
- External links 2008-08-22
- Dollar in Consolidation Mode, Thanks to Home-Sales Data
- Grace Cheng submits: Shortly after the forex markets opened Monday, forex traders took the opportunity to short the British pound against the US dollar, driving it down below 1.8480 towards 1.8400 in a short period of time, taking advantage of the fact that many stops were positioned below the major...
- External links 2008-08-25
- Dollar Retreats as Fed's Fisher Says GDP May Turn Negative
- Grace Cheng submits: The Euro got a huge punch from the US dollar Tuesday, falling to a six-month low following economic data which showed that Germany, Eurozone’s largest economy, is indeed showing negative growth. The past few weeks of US dollar strength have been met with bewilderment by some people,...
- External links 2008-08-26
- Despite Lower Oil Inventories, Dollar Surges
- Grace Cheng submits: So far it has been quite a good week for the US dollar when it comes to US economic figures. Wednesday’s release of July US durable goods orders came out better than market consensus, jumping to 1.3%, following an unrevised 1.3% increase in June, and versus an...
- External links 2008-08-27
- BoE Calls for Big Rate Cuts; Pound Could Suffer More
- Grace Cheng submits: Many traders are already on leave ahead of the long US Labor Day weekend holiday, causing trading volume to be thin in the forex, stock and oil markets. And with such reduced volume and trading interest, the markets are trudging along in a whipsaw zig-zag manner. Even...
- External links 2008-08-28
- British Pound: Largest Monthly Fall Since 1992
- Grace Cheng submits: With Friday being the last trading day of the month and the US Labor Day holiday coming up on Monday, currency flows have been rather disorderly, and the only exciting action in the forex markets has been another steep decline of the British pound against the US...
- External links 2008-08-29
- A Different Kind of Labour Day Across the Pond
- Grace Cheng submits: Yesterday it was Labor Day in the US, and a very different kind of Labour day in the UK. While in the US, people were “celebrating” the end of the summer holidays, in the UK the Labour party was working hard at damage control. In an interview...
- External links 2008-09-02
- Dollar Rallies, Oil Plunges on Gustav's Kindness
- Grace Cheng submits: Summer holidays are over and now it’s back to serious business starting with the first day of September. The highlight of today is the sharp decline in oil prices on news that Hurricane Gustav has luckily bypassed major oil refinery facilities along the Gulf of Mexico, weakening...
- External links 2008-09-02
- Ospraie Shuts Fund, Dollar Up Again
- Grace Cheng submits: A sense of lethargy permeates the stock, forex and oil markets Wednesday, each specific market dazed by different factors. Stock investors are reluctant to bring the Dow (^DJI: 11520.02 +3.10 +0.03%) higher despite falling oil prices. It just so happens that another hedge fund has closed shop...
- External links 2008-09-03
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