Results for weak

6 articles with this tag name

U.S. Dollar: 3 Reasons Why It Is Higher

For the second day in a row, the U.S. dollar has appreciated significantly against the Euro and is also trading higher against the New Zealand dollar and Swiss Franc. However, the extent of today’s rally in the greenback basically ends there. The dollar is practically unchanged against the British pound and Australian dollars and is trading lower against the Canadian dollar and Japanese Yen. The 2.3 percent sell-off in U.S. equities coupled with the outperformance of the two lowest yielding G7 currencies indicates that risk aversion is the dominant theme. Yet, with no major U.S. economic data or market moving news over the past 48 hours, traders may be wondering, what changed. As recently as last week, investors were optimistic about a turnaround in the global economy following the more substantial outcome from the G20 meeting.

Tags: dollar, bank, economic, trading, recent, quarter, usd, yen, weak, consumer, interest rates, rba, quantitative easing, stimulus, bear market, dovish, stimulus package
Why EUR and GBP Have Failed To Rally

Over the past few months, a rally in U.S. equities has generally been met with a sell-off in the U.S. dollar. The primary reason was because parking money into the low yielding U.S. dollar was synonymous with risk aversion. Therefore one would expect that today’s 2 percent rally in equities should have driven the U.S. dollar lower against all of the major currencies. We did see dollar weakness, but it was only against the Australian and New Zealand dollars. The greenback increased in value against the Euro and British pound leading many traders to wonder why those currencies failed to participate in the rally.

Tags: dollar, gdp, sales, retail, usd, consumers, weakness, zealand, euro, weak
US Dollar: Why Are Failed Auctions Important

It has been an extremely interesting day in the currency market with Treasury Secretary Timothy Geithner tripping over his comments about the U.S. dollar and an auction of 5 year Treasury notes seeing surprising weak results. Geithner’s fumble could not come at a worst time as investors remain skeptical about the effectiveness of the Obama Administration’s efforts to stimulate the U.S. economy. Top that off with the failed Treasury auction and it is clear that the actions of everyone in the Obama Administration from the Treasury Secretary to the Federal Reserve Chairman have left an air of uncertainty across the financial markets. The U.S. dollar has weakened against the Euro and Japanese Yen but ended the day unchanged against the commodity currencies.

Tags: dollar, auction, failed, weak, treasury, such, report, comments, obama, global
Euro Shrugs Off IFO Rallies Off the Lows

The euro shrugged off another weak IFO report and rallied off the Asian session lows breaking above the 1.2800 barrier by early European trade. IFO survey of business sentiment printed yet another new low at 82.6 versus 83 forecast but market expectations were already dour and the data had minimal impact on the pair as EUR/USD continued to benefit from EUR/JPY flows.

Tags: euro, weak, report, yen
US Dollar:Geithner vs. Payrolls

On Friday, the Bureau of Labor Statistics is expected to tell us that US employers fired another 500k people in the month of January. Surprisingly enough currencies and equities are trading higher ahead of the non-farm payrolls report which suggests that traders are not afraid of a bad number. Everyone knows that the US economy is very weak and major job losses will continue. Since traders are becoming immune to bad data, it may take job losses in the area of 600k to spook them (January Non-Farm Payrolls Preview). Instead, traders are looking beyond Friday’s non-farm payrolls report to the Monday, February 9th speech by US Treasury Secretary Timothy Geithner. According to a Treasury official, Geithner is expected to unveil a bank rescue plan next week. This is one of the few things that could strike a meaningful recovery in the currency and equity markets. If traders deem Geithner’s plan as satisfactory, we could see a further recovery in the financial markets despite the fact that the US economy will get worse before it gets better.

Tags: payrolls, nonfarm, number, usd, weak, less, dollar, report, traders, bank, usd/jpy, nfp, non-farm payroll, unemployment, eur/usd, gbp/usd, interest rates
What to Expect Before New Years

It is the first trading day of what is typically the least liquid period in the financial markets. As a result, there was no consistent trading pattern in the US dollar today. The greenback weakened against the Euro but gained strength against the British pound and Japanese Yen. We still believe that the US dollar has hit a top and could be at the cusp of a major reversal. The EUR/USD’s resilience to the US stock market sell-off indicates that we are finally seeing the weak outlook for the US economy reflected in the weakness of the US dollar. In 2009, the greenback may no longer be the market’s safe haven currency of choice as yields on Treasury bills sit at zero to negative levels.

Tags: usd, eur, dollar, weak, currency, data, market, economy, economic, gdp

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currency		recommendation
AUD/CHF Short term		Buy at .9560 Stop at 0.952 Target at 0.9634
USD/CHF Medium term		Sell at 1.0677 Stop at 1.0706 Target at 1.0633
NZD/CAD Medium term		Sell at .7320 Stop at 0.7363 Target at 0.7255

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currency		recommendation
GBP/JPY Medium term Opened 3/18/2010		Long from 136.1000 Stop at 135.58 Target at 136.67
NZD/USD Medium term Opened 2/26/2010		Short from 0.7141 Stop at 0.7205 Target at 0.7055

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Key Quotes
Currencies
Markets

current
high
low

EUR/USD
1.3529
1.3626
1.3503

5 min chart

GBP/USD
1.5012
1.5254
1.4987

USD/JPY
90.53
90.70
90.33

OIL
80.58
82.12
79.83

GOLD
1106.3
1126.6
1100.8

US Stocks
10747
10816
10694

UK Stocks
5657.0
5697.8
5631.3

DEM Stocks
5997.0
6041.3
5955.0

JP Stocks
10764
10824
10699

current
high
low

EUR/USD
1.3529
1.3626
1.3503

5 min chart

GBP/USD
1.5012
1.5254
1.4987

USD/JPY
90.53
90.70
90.33

USD/CHF
1.0613
1.0634
1.0539

USD/CAD
1.0171
1.0188
1.0060

AUD/USD
0.9152
0.9223
0.9128

NZD/USD
0.7080
0.7156
0.7064

USD/MXN
12.5730
12.6063
12.4924

EUR/JPY
122.49
123.34
122.24

GBP/JPY
135.91
138.08
135.61

current
high
low

OIL
80.58
82.12
79.83

5 min chart

GOLD
1106.3
1126.6
1100.8

SILVER
16.969
17.387
16.952

US500
1160.9
1169.1
1155.1

UK Stocks
5657.0
5697.8
5631.3

DEM Stocks
5997.0
6041.3
5955.0

JP Stocks
10764
10824
10699

AU Stocks
4846.0
4882.0
4829.0

Data source: GFT

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