Forex Trading
: 22 August 2014
The dollar retreated from its 11 month high versus the euro on Thursday, with the currency pair climbing to $1.3280.
Wednesday's Federal Reserve minutes revealed that officials are considering a rate hike sooner rather than later.
This initially strengthened the dollar but the
forex market saw profit taking in effect which sent the dollar lower.
The slight rebound in the euro came despite data showing that the Eurozone manufacturing PMI was lower than expected, which raised some concerns over the state of the European economy.
Forex Trading
: 21 August 2014
The dollar continued to strengthen yesterday, with the EUR/USD pair falling to $1.3250.
The dollar is now at 11 month highs versus the euro after the release of surprisingly hawkish FOMC minutes which has many traders concerned about a rate hike in the near future.
The euro is also continuing to come under pressure from expectations that the European Central Bank is going to begin loosening policy to fight the threat of low growth and deflation.
Forex Trading
: 20 August 2014
Much like Monday, the
euro-dollar currency pair continued to fall, with the dollar strengthening by more than 0.3% on Tuesday to $1.3319.
The positive US housing data helped support expectations that a hike in interest rates could be on the horizon for the Federal Reserve, however, with the FOMC minutes being released today, anything is still possible.
In contrast, the euro came under pressure on expectations that the European Central Bank will begin to loosen policy.
Forex Trading
: 19 August 2014
Despite Friday's gains in EUR/USD, Monday saw the currency pair fall below the $1.34 mark to close the day around $1.336.
The fall wasn't helped by Eurozone Trade data which gave the bulls little to be excited about.
Tuesday could see little change for the dollar as traders await the release of the FOMC minutes on Wednesday, hoping to see some clues as to when the US can expect a rate hike.
Forex Trading
: 18 August 2014
Even though we saw plenty of drama on Friday, with rising geopolitical tension in Ukraine, the EUR/USD
CFD trading pair rose and finished the week close to the $1.3400 mark.
The rise was helped by the plethora of data that traders tried to get their heads around on Friday, with US industrial output for July, Michigan University consumer sentiment survey for August and business sentiment among New York State manufacturers for August.
Focus for the coming week now shifts to the Federal Reserve, with the FOMC minutes due on Wednesday.
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, 22 August 2014
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Hawkish FOMC Minutes Sees Dollar Reach 11 Month High Against the Euro" » The dollar is now at 11 month highs versus the euro after the release of surprisingly hawkish FOMC minutes which has many traders concerned about a rate hike in the...»
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