GFT Daily Forex Market Commentary
The post-Thanksgiving day saw, the European currencies and the yen making new highs early in the day and then giving up these gains to close unchanged.
GFT Daily Forex Market Commentary
The dollar corrected higher versus the pound, euro and yen, but remained under mild selling pressure against the franc on Monday.
GFT Daily Forex Market Commentary
Does this mean Fed Chairman Bernanke slowly learned how to emulate Greenspan?
GFT Daily Forex Market Commentary
The rate cut came through as expected…
GFT Daily Forex Market Commentary
The dollar followed divergent paths, when it sank versus the euro and the pound…
GFT Daily Forex Market Commentary
The dollar had something of a siesta day after being sold off aggressively a day earlier on the weak jobless report.
GFT Daily Forex Market Commentary
The dollar sank across the board on Wednesday and the weak report of US existing houses and fears of a puny non-farm payrolls report didn’t help its cause.
Daily Forex Market Commentary
The FX markets gave some signs of recovery on Wednesday; the immediate rush seems to have calmed, as central banks continued to pour money into the system.
Daily Forex Market Commentary
The FX markets had a day of uneasy calm on Monday, with the stocks up in the wake of the cosmetic move the Federal Reserve executed on Friday. But the T Bills yields collapsed and this tends to be a huge red flag ᾢ is there a big name about to fold? Or worse?
Daily Forex Market Commentary
In an effort to re-establish confidence in the US financial markets, the Federal Reserve on Friday answered the market’s calls and cut the discount rate by 50 basis points to 5.75%.
Daily Forex Market Commentary
Dollar/yen gave back more than 4% on Thursday in aggressive selling to reach the lowest level in 14 months as the carry trades accelerated their collapse. I think a big single position was unwound probably in NZD/JPY or AUD/JPY and the rest of the flock followed.
Daily Forex Market Commentary
Dollar/Europe plunged further on Wednesday while dollar/yen declined, as the standard yen crosses and the carry trades fell victim to long liquidation. The US data showed that the economy was in good shape, but the financial system is in deep trouble.