Forex Trading: 21 February 2014
Consumer confidence in the Eurozone unexpectedly dropped this month sparking fresh concerns that the much trumpeted economic recovery is already losing steam.
At the same time, the ECB remains on alert to continue its loose monetary policy should the situation get worse.
Finally, disappointing manufacturing and services data also helped to push the euro lower, with the currency losing 17 points against the dollar to close at $1.3719.
Forex Trading: 20 February 2014
A continued resolve to scale back quantitative easing, as showed by the Fed meeting minutes, kept the dollar strong yesterday.
In addition, the International Monetary Fund warned of the downside risks to global economic growth, sending investors into the safety of the dollar.
As a result, the EUR/USD pair retraced by 25 points to $1.3733.
Forex Trading: 19 February 2014
Lately, some mixed US economic data has sparked a debate about fresh downside risks which translated into spread betting
investors being slightly less enthusiastic about the dollar.
Such is the uncertainty that they have been moving into the euro despite the fact that the common area has nowhere near the growth rate seen across the Atlantic.
Consequently, the EUR/USD pair has rebounded sharply since the start of February, yesterday gaining another 49 points to $1.3732.
Forex Trading: 18 February 2014
Amid a refusal by EU Finance Ministers to offer new assistance to Greece before the European elections in May, the shared currency gained 50 points against the dollar to $1.3709.
German ZEW Economic Sentiment due later today will undoubtedly be getting all the attention from FX traders on this side of the pond.
Forex Trading: 17 February 2014
It seems that global forex markets are prepared to go easy on the new Fed Chairman Janet Yellen for the moment.
A string of mixed economic data from the US last week kept investors rather nervous and so they shied away from the dollar.
Instead they supported the single European currency, pushing the EUR/USD pair 20 points higher to $1.3698.
Investors will be waiting for this week's FOMC minutes to offer some extra hints on the next possible direction.
The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced.
By Jonathan Sudaria, 21 February 2014