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- EUR/USD Fails to Remain on Top
EUR/USD spiked up during the early trading session reaching as high as 1.3385 (the highest level since April 13) after opening at 1.3256 but after the fundamental reports in U.S. showed that the world’s biggest economy is stalling the currency pair rolled back below the daily open level. It’s now trading near 1.3244.
Initial jobless claims decreased from 345k (revised up from 340k) to 331k last week, which is slightly better than the previously expected 340k value.
Personal income fell by 0.3% in March, following 0.2% decline in February. It was expected to fall also by 0.2% this time. Personal spending decreased by 0.2% in March after rising by 0.4% in February (revised up from 0.2% growth). A decline by 0.1% was in the forecasts.
Chicago PMI Business Barometer index went up from 31.4 to 40.1 in April. According to the median forecast it should have increased only to 34.
Posted on Forex blog.
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Переслать - U.S. GDP — Down, EUR/USD — Up
Despite the huge and quite unexpected drop of the U.S. gross domestic product in the first quarter of 2009 reported today, the stock markets rose globally, spurring euro and other high-yielding pairs in their gain against the greenback. The interest rates left unchanged weren’t a big news for the Forex traders. EUR/USD is now trading near 1.3264.
According to the advance report GDP decreased by 6.1% in the first quarter of 2009. It was down by 6.3% in the fourth quarter of 2008. Forecasts showed -4.9% for Q1 2009.
U.S. commercial crude oil inventories rose one more time last week — by 4.1 million barrels. They are still above the upper boundary of the average range for this time of year.
The Federal Reserve’s FOMC left interest rates unchanged at the range between 0% and 0.25%. They also left the amount of the U. S. Treasury securities that they will buy by autumn unchanged at $300 billion.
Posted on Forex blog.
Trade with a leading Forex service provider — trade with Ava FXПереслать - Is Forex Easier for You with Forex4you?
Another Forex broker that offers a technically easier start for the new Forex traders was added to my Forex broker list today — Forex4you. Although they claim to be on-line since 2007 I’ve never heard about this broker until several days ago, but they look worth looking at. It’s a MetaTrader 4 broker with very easy starting conditions. You only need $1 to open a real trading account and you can trade with the volumes as low as 0.0001 of the standard Forex lot. Other Forex4you’s highlights include:
- 2 pips spread on EUR/USD
- Up to 1:500 leverage
- Electronic payment systems accepted: WebMoney, Liberty Reserve and e-gold (a rare occurrence)
- CFD trading is available
- Annual interest rate on account balance — 7%, 8%, 10% or 12.5% depending on the account type
- Not regulated by any financial authority
Trade with a leading Forex service provider — trade with Ava FXПереслать - EUR/USD Rebounds After Yesterday's Drop
EUR/USD rose a little today after falling significantly yesterday. Today’s trading session opened with the bearish sentiment and the currency pair managed to reach the lowest value since last Wednesday but later the rate began to rise. Fundamental reports from U.S. were better than the analysts expected, so that played in the euro’s favor as traders felt less obliged to buy «safe» dollar. EUR/USD is now trading near 1.3066.
S&P/Case-Shiller Home Price Index, which measures the housing prices in 20 American states, went out with -18.63% decline for February 2009 compared to the February 2008. January’s decline was at 19% and market participants expected 18.8% drop from today’s report.
Consumer confidence rose unexpectedly in April — from 26.9 to 36.2. The forecasts said that the confidence will increase to 28.8.
Posted on Forex blog.
Trade with a leading Forex service provider — trade with Ava FXПереслать
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