• May 27, 2024

EUR/USD moves below 1.26

The U.S. dollar moved higher against the euro in today’s forex trading, thanks in part to the announcement that U.S. capital inflows last month had reached their highest level in nearly three years. The euro now stands below $1.26. Two weeks ago, the International Herald Tribune reported on market speculation that the euro could fall…

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IMF Slashes Growth Forecasts

Forex continues to be predictably grim. Last month, the International Monetary Fund (IMF) slashed its growth forecast for every major country and predicted that the global economy will contract 1.3% this year, although the IMF did issue a sliver of hope that it would grow 1.9% next year, depending on the state of the financial…

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Analyst: “The Dollar is No Longer as Good as Gold”

Earlier this month, an AP article painted a bleak picture of the dollar’s current and future status as the world’s reserve currency and the most powerful currency in online forex. The proliferation of stimulus efforts has left analysts worried about both the U.S.’ ability to control its ballooning deficits and the greenback’s position in relation…

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Consumer Confidence at All-Time Low

The January plunge in consumer confidence to touch an all-time low of 37.7 sparked a rally for the USD in online trading, although GFT Director of Currency Research Kathy Lien called the trend a “reflection of more panic selling and not optimism about US economy.” She cautioned that confidence may not be restored until job…

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Recession Outlook Grim

Most analysts agree that the dollar’s rally in online forex trading throughout the fall was bound to be ephemeral, and with 2009 underway, the EUR/USD climb back upwards has begun. In December 2008, the dollar was up almost 20% against a basket of currencies, but since then, the weakening forex trend has taken hold as…

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Rate cuts halt EUR/USD fall

Over the past few days, the euro has finally broken out of its weeks-long slump against the dollar. Federal Reserve Chairman Ben Bernanke announced on Tuesday that the Fed would be taking the unprecedented act of buying three-month commercial paper, and today, central banks around the world made coordinated reductions in the target lending rate.…

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A strong week for USD

Based on the price movement of EUR/USD over the past week, one could say that it’s been a strong one for the U.S. dollar. From a high of $1.47669 on September 25, EUR/USD has fallen to $1.40082 as of this afternoon. The past seven days of online forex trading have even featured the euro’s greatest…

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A “buying opportunity” for EUR/USD?

The dollar experienced a temporary surge against the euro early today as online forex traders anticipated an announcement that Congress had reached an agreement on the proposed bailout of Wall Street. EUR/USD had moved as low as $1.45599 before Sen. Christopher Dodd, chairman of the U.S. Senate Banking Committee, announced this afternoon that a “fundamental…

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EUR/USD down over 2.1%

In today’s forex trading, the U.S. dollar suffered one of its biggest ever one-day losses against the euro on fears that the $700-billion bailout plan proposed by Treasury Secretary Henry Paulson will further exacerbate the growing federal budget deficit. EUR/USD stood at $1.4794 as of 6:41 EST, up from $1.4466 yesterday. Percentage-wise, the dollar was…

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Mood Swings for EUR/USD

This has officially been the most volatile week for the global currency trading market since the Asian financial crisis of the late ‘90s. Interday trading of EUR/USD went through significant swings as the dollar gained ground on word that the U.S. Federal Reserve had chosen not to change interest rates, only to plummet against the…

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